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. >> we've got the ps rising. we have to see the es rising. if the es do start to catch up here, you find those valuations can be justified. the proof is in the pudding and we'll start to see beginning week after next some of the earnings that come out and we'll see how american companies are doing. remember that fourth quarter a year ago was probably the trough of the recession, if my guess is right, and some of the comparables will show improvement both in sequential quarters and compared to a year ago. we have to see the es come along to justify these ps. >> you're right, tyler. thanks so much. tyler mentioned something interesting and important. one year ago we were looking at the worldcoming to an end and the financial system possibly on the verge of collapse. when did you worry the most? what was it for you? give me your sense of what went on a year ago. were we that close? >> i think the worst moment when the reserve fund broke the dollar and the commercial paper market totally froze up. firms like ge were concerned about rolling their

inspired by david and merrill's only beloved canine ps. these inane students are always a crowd pleaser. unfortunately, the "david letterman show" is inundated with problems. not the least of which is its early morning time slot. >> the show was an immediate disaster. just his brand of humor just didn't work in the morning with the housewives looking at television at that point in time. >> narrator: after only a few months on the air, the call comes in, the david letterman show is canceled. although the show's ratings are abysmal, by the time the last show airs, he has a cult following and has won two emmys for his efforts. his one chance at hosting a network show has failed miserably. he's certain he will never work again. what he doesn't know is that he will soon get another break and this one will make him a star. >>> hirk everyone, i'm milissa rehberger. the u.s. will not put in a 2018ed by for the olympics. they were so focused on the chicagoed by they have not been able to prepare a competitived by for 2018. cbs producer joe halderma

she'll take you to task, unless you know your ps and qs. oprah will find out what you do and don't know. here's the thing. i don't think there's going to be that many fireworks because everybody is happy. oprah's candidate won. barack obama. sarah palin is making a lot more money than she would have if she was vice president. seeing the mess the country is in right now, i think sarah palin is going, you know what, i'm all good. i'm doing okay. >> yeah. oprah's man won the race. sarah palin wants to sell her book. what do you hope so see from this interview? >> i hope to see a side of sarah palin that we haven't seen thus far. i mean, we've all seen jokes. we've seen the tina faye coverage, and we've also heard sarah palin and what have you, but i'm looking to hear another side of her, and i'm sure a lot of people are looking to hear explanations for what's been going on with her daughter and her family and the kind of photo opes and what have you. >> yeah. good point. we know that oprah will go there. midland charles, carlos diaz, great to

. >> these have been more accurately called school sex clinic ps. >> by her. >> she routinely referred to them as sex clinics. now to the rest of her spiel. >> the bill orders that the clinics protect patient privacy and student records. what does that mean? it means parents will never know what kind of council and treatment their children are receiving. and as a matter of fact, the bill goes on to say what's going to go on. comprehensive primary health services. physicals, treatment of minor, acute, chronic, medical conditions, referrals to follow up for specialty care. is that abortion? does that mean someone's 13-year-old daughter could walk into a sex clinic, have a pregnancy test done, be taken away to the local planned parenthood abortion clinic, have their abortion, be back and go home on the school bus that night and mom and dad are never the wiser. they don't know the difference. >> in the very sup section of the very bill in which bachman speaks there's this. sex clinics, often known as health clinics, obtain parental or guardian consent, and two, patient privacy and bachmann

clinton had a terrible first two year ps some of them grow out of it like jfk. some like jimmy carter are as miserable as the end as they are in the beginning. >> how do you see obama now? this is a rocky first year in many respects. can he grow out of this? what does he take away? what does he learn from this? five-hour whirlwind. back in 2012, tony blair got the games for london. but he worked the ioc international olympic committee for three full days. obama, five hours, bang, bang, bang. 18 votes out of 93, if i'm not mistaken. that's incredible. >> it's not bad. there's four cities. so 18 is not -- >> it wasn't great. better than iowa, for heaven's sakes. >> people were shocked iowa -- chicago went out in the first round. tokyo wasn't going to get it. they just had an asian city. when we elect these charismatic outsiders, they're going to make mistakes. that's the price we pay in our country for voting for guys like this. now this is a good one to learn from. there's no way obama can mistake this for anything but a big fat public fiasco. makes him look bad,

saying that he may have violated wiretap laws, all the things they talked about are stored communication ps. those communications are not in transit. e-mail, voicemail messages, all stored communications and none of those actually violate the wiretap. there may be some issues if he violated the security on those accounts where he didn't have access to, and that is hacking at the federal level and state levels and punishable -- >> you know, john lucich, i'm not exactly sure what you just said, but after practicing law since 1984, and yes, i will date myself, i know that it is a crime -- i don't need to go look it up in the code annotated. it is a violation of the law to hack into somebody else's e-mail account, to hack into their cell phone account, who they've been calling, who they've been texting -- >> if that's what he did. you can get access to that e-mail without going into that account. it's all on that hard drive, and if someone imaged that hard drive and if he's a technologist and knew how to get access to those files, he could easily recover -- >> can you break it down, lucich? can

they started tting the blowbac of people who were attacking in islamabad and carrying out attacks in psey decided you know what? we can't ride ts tigernymore rose: are you pesmistic abt when you look at t siation on the ground and regardless of whether theydd a few more thousand troops or don't or subtract,0 or 10,000 troops, i don't hear fm u any sense that there's aç real chanc at progress. a re chance at anying that uld look le successs you had in rt in iraq after the surge. >> i think the ideç is the... s imposing a nation sta state on a state that never had one. if iraq s a central gornment wantedo be a country, iraqis felt that they were iraqis and they were engag. afghanistan was... wasn't really a stngentral government most people... the central governnt never hamuch control ove the outer provinces. and the idea of trying to create some sort ofestern model tha isoing to rule afghanisn from the center i think is ultimately a failed proct. and that's perhaps why ifwe're trying to impose a natn state as w understand in the afghanistan throughorce of arms, carried out by tn unifor

the s&ps are up 360. that is, as we see, a little bit above fair value. so, i don't know, we're good for about 20, 30 points on the dow at the open, you know. things can change. we don't always follow the lead of the global but most of the time it works out that way. art cash season here from ubs. you know, i have a specific question i want to ask. i've been gone for a week. so i'm a little behind the curve here. before i left we were seeing weakness every afternoon. has that ended now? >> no, not at all. we got away from it initially on friday but then they came back a little bit. they were able to turn around friday on a couple of things. the sell-off was so sharp that we had the greatest -- sorry, the smallest number of stocks trading above their ten-day moving average than we've had throughout this whole rally. so once we got that oversold, they could take in that bad payroll news and, of course, the dollar reversal helped them but they couldn't sustain it enough to get to the plus side. >> so, where do we go from here? >> well, as i said friday, i th

unless you know your ps and qs, oprah will find out what you do and don't know.is the thing, i don't think there's that many fireworks. oprah's candidate won, barack obama, sarah palin is making a lot more money than she would if she was vice president. seeing the mess the country is in now, sarah palin is going, i'm good. i'm okay. >> oprah's man won the race, sarah palin wants to sell her book. midwin, what do you hope to see from the interview. >> i hope to see a side of sarah palin we haven't seen thus far. we've all seen the jokes. we've seen the tina fey coverage. we've also heard sarah palin in debates and what have you. but i'm looking to hear another side of her. i'm sure a lot of people are looking to hear explanations for what's been going on with her daughter and the family and the kind of photo ops and what have you? >> good point. we know that oprah will go there. midwin charles, carlos diaz, great to see you. thanks. >>> so many people love to throw that word cougar around to describe people like madonna, courtly cox. courtney has a new tv show cal

it's a stopping point that we've seen in the market right now at levels with the s&ps reaching that 10,075we've come basically 50 handles off of that extreme high. whether it's the beginning of a correction or not is anyone's guess at this point. we had a huge week right now in terms of numbers, data that was released and the market reacted very negatively do it. a lot of concerns out there are still looming, the dollar, housing data and the only, you know, real positive thing that the market was able to get its hands on this week was some of the m&a activity which was short lived and we saw some of that selling coming off. but we're in a narrow range right now ahead of the jobs data, which is in my opinion bulis considering that the unique high right now is at two-month lows. this scenario hopefully will find a bit of a bottom to the recent sell-off that we've seen. >> so you figure that the -- i'm trying to rectify the notion that the market likes to keep everyone out and a lot of people didn't get in. how do you correct without letting all these people late to the party, how do you corr

. >> if you had to buy one or the other, the ten-year or the s&ps? >> can i say neither?> no, i would probably be a better buyer of stocks, joe, but i'll tell you, i would do it -- i'd be a little bit shy about it. at 3%, ten-year treasuries probably represent fair value so they could probably shoot -- overshoot that and trade 2.75. what you may hear in terms of the whole credit story, the expansion of the fed balance sheet and perhaps increased treasury issuance. you may see 2010 could look a lot like 2009 in which the back end of the curve sells off on the whole supply story but probably doesn't get above 4%. >> thanks. sorry about rio and everything. i don't know. i don't know where you stood on that, but business as usual. at least you know your traffic's not going to be disrupted or anything like that. i don't think you guys could've paid for it to be honest with you. >> it would have been challenging. >> it would have been challenging, you've got the chicago machine, all the different -- that $20 billion who knows where a lot of that would've gone in chicago, right?