u.s. treasury... the ten-year u.s. treasury below 2% is the lowest it's ever been in history. it can't stay there so i think people need to be realistic and not worry about the last sixteenth of a point or eighth of a point. >> susie: so this is better for buyers and sellers? >> i think it's good for both. i think we have a market where there are buyers and for the buyers we have a great market where interest rates are so low and prices have never been better so i think it's good for both. very good. >> susie: all right, thank you so much. >> you're very welcome. >> tom: looking ahead, we have a busy week next week. >> tom: here's what's on our we'll get a check on consumer prices and earnings season kicks off. alcoa leads the way, as it reports first quarter results on tuesday. we'll talk exclusively with c.e.o. klaus kleinfeld. also reporting results next week, google and a couple of big banks-- j.p. morgan chase and wells fargo. and monday, we sit down with noted economist simon johnson for the latest on europe's debt crisis and its impact on the u.s. >> susie: have you eve

u.s. treasury under ronald reagan so welcome back to the show nice to see you thanks for being here. please play with you ok so let's take it from the top because now that l.t.r. o. money seems to be drying out we have analysts pointing out that this could lead to a renewed crisis in spanish sovereign god that's really where the fire is heating up now so years will rise if there isn't fresh money available to purchase bonds we are these kind of saw that this morning yields rose in a bond auction this is renewed concerns about the solvency a large nation states in europe and i are told that it's only been a few months since that last out here option it was incredibly wary so my question to you is this really the new normal because it doesn't seem central bankers are ever going to allow the markets to return to normal. well they're not going to allow themselves to go. bankrupt and close down but keep in mind the original approach to sovereign debt was to shift all of the cost to the ordinary people carrying all of their social safety net their pensions employment wages selling off of n

u.s. treasury, u.s. treasury secretary heckled this morning. the protester and it demanded to know why the government bailed out big banks. timothy geithner was in town to discuss china's growth. he also talked about the economy with local business leaders. >> key is 8 years old and already a seasoned chef. coming up, the culinary competition that landed a bay area kid a gauge on national tv. says all before year-old was treated like a security threat. the reason she was forced to go through a pat down at the airport >> we have wind blowing into the bay area which means one day this weekend we,,,, >> an airplane had a tough time landing at this airport in spain when strong wind shifted the airplane side to side. another airplane had to abort its landing. how about this passenger, a four year-old treated like a security threat forced to go through a security pact down at the airport. now her mother is filing a complaint. the girl's grandmother set off a metal detector in wichita kansas. the four year-old ran to her grandmother in gave her a hug.

u.s. treasury undersecretary brainerd said the world economic outlook has improved.oncerns over the european debt crisis have eased slightly. but the global recovery remains weak. brainerd praised an agreement by eurozone members to expand their own rescue fund. they said they should make sure austerity measures don't dampen economic growth. she urged member nations to work harder to shore up the euro. she said they need to do everything possible to avoid another crisis. g-20 ministers and bank governors will focus on boosting the lending power of the international monetary fund. >>> imf analysts say the global economy will refrain fragile -- remain fragile through the end of the year. they have renewed concerns about european debt and the price of oil. the analysts say the global economy this year will expand by 3.5%. that's a slight increase from their january forecast. they raised their growth 2.1% and the one for japan to 2%. they upgraded the view of the eurozone by 0.2 percentage points. but they still think the region will contract by 0.3%. spain's economy wil

u.s. treasury bond it runs the entire world so i'm going to flashback to oh about three or four weeks ago egan jones downgrades usa from double a plus to double a out look negative that's right there's a big trend around the world sovereigns around the world are downgrading america's triple a rated credit this is actually another a second downgrade at cent or downgrading u.s. debt exactly now that egan jones their credit rating agency. headline this week s t c pursues egan jones moody's and s. and p. remain at large the securities exchange commission voted thursday in favor of bringing in administrative action against jones in what would be an unprecedented move the f.c.c. could seek to punish the firm by stripping it of its ability to issue officially recognized ratings on securities tied to government debt and asset backed deals an f.c.c. spokesman declined to comment the move stems from alleged material misstatements even jones made when it applied to regulators in two thousand and eight to rate bonds issued by countries u.s. states and local governments and asset backed securities wha

u.s. treasuries after the most tumultuous quarter since two thousand and ten. why is that is that because people expect more q we less q e with a twist no q we can't win without thank you i mean who knows the new more grow we'll talk about what it means and on that note alan greenspan has come to the defense of federal reserve chairman ben bernanke against criticism from republican presidential hopefuls so do central bankers protect their own and why should they escape personal scrutiny scrutiny over how they do their jobs in the first place let's get to today's capital account. you heard the headlines of stock market performance is being attributed to some optimism about an economic recovery and appetite for risk and traders are looking at a continued bull market and u.s. treasuries so we're talking about confidence about sentiment but what is the reality of the facts and figures of the u.s. economy and the debt situation because the new us national debt is that fifteen point six trillion dollars according to the most recent numbers we've seen that's higher th

u.s. treasuries so we're talking about confidence about sentiment but what is the reality of the facts and figures of the u.s. economy and the debt situation because the u.s. national debt is that fifteen point six trillion dollars according to the most recent numbers we've seen that's higher than u.s. g.d.p. you can see there how it skyrocketed since one nine hundred forty and look most of that has been accumulated in the last twenty years only seven percent of that accumulated before ronald reagan was president you can see how the rest is divided up there now if we stay on the path we've been going the national debt will be twenty trillion dollars by two thousand and fifteen and according to jim quinn of burning platform on a zero hedge post if interest rates normalized to the same level they were in two thousand and seven which was five percent annual interest expense would be a trillion dollars or forty five percent of current tax revenue and if you want something more fishel the cd you know says the debt will reach twenty one point seven trillion by twenty twenty two now according to

u.s. treasury controls so why should they take their money given institutional u.s. treasury controls and of course the needed issue is the eurozone crisis and european countries that have the money so you can only give them a kick i mean they're just you know the germans who have absolutely no the fears about inflation and they're preventing you know the eurozone crisis from being resolved id i want to thank you so much for joining me. break. break down just how much the average family contributes to the president and that we'll talk to former new york times reporter and author about his recently released book on the history of the f.b.i. a. story that seems so. you understand it and the. other part of it and realize that everything. is a big. blow to the calculus. well. you know get the real headline not. the problem with the mainstream media today is that they're completely disconnected from their viewers from what actually matters to those viewers and so that's why young people just don't watch t.v. if they want news they go online and read it and we're trying to

u.s. treasury controls so why should they take their money you give it to institutions the u.s. treasury controls and of course the media is the euro zone crisis and european countries have the money so you can only give them a kick i mean they're just you know. absolutely you know the fears about inflation and they're preventing you know the eurozone crisis from being resolved and i thank you so much for joining. us time for our first break back to break down just how much average family contributes to the fence and then we'll talk with former new york times reporter and author tim weiner about his recently released book on the history of the f.b.i. . the emission free the could you take should free in-store charge is free. lunch free risk free. and free. the old free blog plug in video for your media projects and free media and on to our t.v. talk tom. you know how sometimes you see a story and it seems so for you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought. i'm charged welcome to the b

u.s. treasury. not the u.s. congress. >> it's so interrelated to the ability of a manufacturing company to do so. that's why i raise the point now. >> i've indicated what the president has set out for manufacturing companies, but let me also say to you i absolutely agree that your point about the incredible value of the united states now of this natural gas find. so that we become more depend t dependent. we become more dependent on u.s. source rs of all forms of energy, which is just the position we want to be in. so it enhancines our national security. >> i totally accept that. if you raise the cost of the company to produce this energy, which in turn produces the input costs for the manufacturing companies which depend upon that energy, won't you decrease the competitiveness if you will, of our manufacturers? because of tax policy, whatever. imperilling our ability to compete? doesn't that just make sense? >> yeah, i -- gret getting taxes right in our country for business is very important. i can't give you a

u.s. treasury secretary timothy geithner in san fransisco. >> you are 17 and you come to see the treasury secretary speak? >> we wanted to have more insight on the economy especially on the future of america because, i mean, we are the future. >> soon after his prepared comments on economic relationships with china, as he sat down for questions he was interrupted. >> what are you going to do about that? >> i may in fact reader question. it was a good question. >> she was the only protester at the event but the secretary still spent several minutes answering concerns that the obama administration bailed out big banks. >> we did not do it for the banks, we did it for the economy. we did for the innocent victims that were suffering some much and faced the loss of tremendous savings. >> even gave insight into the housing market. >> there has been signs of firmness in prices, demand for houses. that is encouraging. but to be realistic, we have a long way to go. >> he spoke for nearly two hours. it would seem to strike most people was not only is in sight in the global economy but that, one of

u.s. treasury has an office in that building where an ancestor worked as a laborer over 170 years ago. imagine working in an office as a senior executive where a great uncle three times over was paid to clean rooms for more than a few cents a day. today we have heard much about the legacy of the decatur house. built by william and susan decatur. you may have heard about how susan fell upon hard times after the death of her husband. it is particularly germane to our discussion today as part of her way to see herself through those times, she ultimately transferred a property nearby on i between 15th and 16th to lynch and mary wormley. which hand happened to be next door to the building where he lived. she did this because she was unable to pay lynch and mary for the services by their son, john, as a servant to her. it this property was ultimately used by james wormley to be used as yet another component in this hotel enterprise. during the 20-year period lead ing up to the civil war, the wormley family had become firmly el else -- else sconced in the hat business in the city. lynch and a

u.s. treasury yields will back up faster than expected? so these are many of the issues facing us today. what's also interesting is that the u.s. dollar in fact retreated while the japanese yen rose, as well. closed down 1.5%. and getting back to the top story, china c about pi rising than a faster than expected clip. tracey chang has been looking in to this. >> thank you very much. well, the major inflation gauge climbed 3.6% last month above the median forecast of 3.3%, although it largely dashed investors hopes for monetary easing, analysts say it is probably not must have to deter the pboc from bringing mild measures and help china's weakening economy. analysts say the crucial first quarter gdp data on friday will be key to determining how much stimulus the economy really needs. many market watchers also think the march c about pi reading while rising faster than expect, while hopes for easing are still alive, economists also say if the central bank does act, it is more likely to cut the rrr than warn any interest rate cuts are unlikely to happen anytime soon. >> thank you so much for

u.s. treasuries. >>> with the dollar gaining the price of gold plunged to its low elf level since january. it sent crude oil falling down to its lowest level since mid-february. bank stocks which typically drop on european debt news fell sharply. citigroup and bankamerica lost 3%. elsewhere ahead of the weekly jobs report, yesterday data from adp showed factories and other private sector companies added 209,000 jobs in march. the final sale of private shares of facebook set a record at $43.50. heading into the company's ipo that values facebook at about $109 billion. directv subscribers in 19 u.s. markets can see tribune broadcasting channels again now that they have worked out a new five-year deal. >>> and an 11-year-old dutch boy created a solution for the eurozone's debt crisis. he won a special mention in economic competition for his idea for a money exchange machine to deal with the debt in greece. the boy said his plan was inspired by pizza because it was easy to divide into pieces. if only it was that easy. >>> well, the marlins play their opener. the heat rally past the thunder and

u.s. treasury department and regulators move one step closer to designating companies as too big to fail. the financial stability oversight council will hold a meeting to finalize criteria single out nonbank financial companies, systematically and important to greater supervision. >>> michelle obama will guest star on a two-part makeover episode of nbc's "the biggest loser," with a first-ever white house workout. you can watch it at 8:00, 7:00 central time on this nbc station. >>> and happy birthday to doris day who turns 89. >>> all day long, stay on top of those stories and others as they break on nbc. tonight, be sure to watch brian williams with "nbc nightly news". >>> and sarah palin weighs in on the gop race as "today's" special guest host. >>> and wilson phillips performs music from their new album, made of songs written by their parents, members of the beach boys and the mamas and the papas. >>> keep it on this channel for continuing local news, sports, weather and more. >>> i'm lynn berry, thanks for watching "early today," your first stop of the day on your nbc station. first st

u.s. treasury out of billions of dollars in unpaid taxes. >> what do you think was most valuable thing that you gave to the u.s. government? >> the amount of clients and the amount of assets managed by ubs in the united states out of switzerland. >> and that was how much? >> that was 19,000 clients and around 20 billion swiss francs, which is about $19 billion. >> of the percentage of american accounts that you represented, how many would you say were trying to evade taxes? >> my own clients? >> mm-hmm. >> i would say about 90%. >> did people tell you this was their intention when they opened an account? >> it was the unwritten rule. you didn't have to discuss it. people wouldn't fly all the way to switzerland to open accounts just because they wanted to declare their money. >> and as a private banker for ubs, birkenfeld would help his clients invest, spend, and move their money. one example he told us about involved withdrawing cash from a customer's account, buying some diamonds in geneva, and then smuggling them into the u.s. for the client inside a toothpaste tube. birkenfeld claimed it

u.s. treasury checks sent to them.h miami beach neighborhood where the money avenue gang operates, tax refund fraud has replaced drug dealing. so in the cars that you pull over, do you find instead of bricks of drugs, do you find bricks of debit cards? >> debit cards. and the other thing that we find that we get lucky on sometimes is the actual ledgers of the names, socials and date of births. >> reporter: that they've stolen? >> yeah. they've stolen. >> reporter: and no one is safe. these two detectives among four in the unit who fight this very crime are themselves victims of tax refund fraud. detective denise love got a call just hours before our interview that someone had filed a tax return under her name. >> here we are living a legal life and working a job, you know. these crooks are rolling around in $100,000 cars and staying in penthouses on miami beach and throwing money at strip clubs and everywhere else. >> reporter: with your money. >> with my money. >> reporter: detective jose marin got this chilling messa

u.s. treasury secretary timothy geithner is urging debt-stricken europe to strike a balance between growth and austerity. >> we want to avoid getting into a situation since economic weakness produces in the short term larger deficits, you don't want to have to offset that increase in the deficits with immediate difficult cuts in spending. >> geithner was speaking at a seminar ahead of a g20 meeting that starts thursday. he pointed out the risks of undermining stability and growth if europe tries to implement budget cuts and tax hikes immediately. geithner called for europe's self-help efforts without relying too much on the international monetary fund. about china, he welcomed the country's decision last week to expand the daily floating ban of its currency against the u.s. dollar. but he denied that it represents the end of china's reform process and called on china to do more in its currency reform and expand domestic demand. china says it will introduce 5 million eco friendly cars by 2020. it's seen as an effort to combat the country's air pollution. they will prioritize making electric

u.s. treasuries. i think that kind of gravy train american had is no longer going to be there. there may be a financing crisis in terms of selling treasuries abroad. then again could cause problems in washington. >> china is the leading holder and buyer of our bonds. >> exactly. >> you are just back from india. >> mm-hmm. >> what can you tell us about the global economy. people are saying china is slowing down. what did you find in india and what is your thought about the chinese slowdown? >> the chinese slowdown, i expect them to grow stronger than 7.5% people are talking about. it's making everyone slightly nervous. they understand 9% is the number they need to get. the political pressure is there, under control. in india, the government is in trouble. it's not affected. the underlying is strong. i'm optimistic with india and china. the mood is more down beat. >> great to talk to you. thank you so much. >> thank you. >>> up next on the wall street journal report, personal technologies future from your remote to the doctors office. microsoft will be here to tell us what comput

u.s. treasury, one of the safest assets in the world, why would you take any risk? when the bond market turned against you, as it surely will, interest rates will go up rapidly -- market turns against you, as it surely will, interest rates will go up rapidly. >> we could be heading into a period where there is even more political polarization, even more stagnation in washington. we are looking at four more years of politicians not being able to fix this stuff. >> that is a very real policy -- probability. the bush tax that expire this year. unless the president, house and senate all agree on extending the tax cuts, they will expire. that would be a potentially helpful fiscal adjustment. there is a decision to be made. even if you do not do anything, that is a decision. the reason we wrote this book is to try to persuade people to think about what does the government do, do you want these social programs in place. 40% people who use social security and medicare do not think those are government programs. we need to have a program that -- we need to be better informed

u.s. treasury secretary timothy geithner is urging debt-stricken europe to strike a balance between growth and austerity. >> very important to get that balance right between -- to say is simply, growth and austerity. what you want to do is avoid a situation where since there's a risk of a prolonged period and disappointment in growth from the countries. >> geithner was speaking at a seminar ahead of the g20 meeting of finance ministers and central bank governors that starts later on thursday. he pointed out the risks for undermining stability and growth and getting back to the cause of reform if europe tries to implement all austerity measures like budget cuts and tax hikes immediately. geithner also called for europe's self-help efforts without relying too much on the international monetary fund. >>> and about china, he welcomed the country's decision last week to expand the daily floating band of its currency against the u.s. dollar but denied that this represents the end of china's reform process. he called on china to do more in its currency reform and expand domestic demand. >>> i hav

u.s. treasury savings account for a number of years now. and that would allow small savers to accumulate roughly $5,000. but at that point then that would be rolled into the private sector. we feel that the private sector is going to be more innovative. it's going to create more jobs. and, frankly, it will do a better job of keeping costs lower. >> thank you. thank you, mr. chairman. >> thank you. >> thank you, mr. chairman. thank you for holding this hearing today. and your leadership on these issues as well as overall tax reform. as someone who has been interested in pension and retirement issues since i've been here, i look forward to working with you, mr. chairman and others on this issue. i think strongly that we need to make sure that americans have the tools and the education necessary to feel as though they can make the right choices with respect to retirement. one of our panelists did a study with the employee benefits research institute and only in that study mr. vanderheid, only 14% of americans are confident they'll be able to a

u.s. treasuries, and so i think that kind of gravy chain america has enjoyed the last few years is no longer going to be there and creates reasons to worry that there may be at some point a financing crisis in terms of selling treasuries abroad that may again kind of cause problems in washingngton. >> because china is the ading holder and buyer of our bonds? >> exactly. >> you're just bk from india. >> uh-huh. >> what can you tell us about the global story right now? a lot of people are worried that the chinese economy is slowing down. that has been the engine growth for the world.d. what did you find in india and what's your thought about the chinese slow down? >> well, the chinese slow down, i think -- i still expect china to grow more strongly than the 7.5% that people are talking about. we have got leadership in transition going on in china that at the moment is making slightly nervous but they understand that 9% is the number that they need to get to the political pressures there under control. in india, the government is really in all sorts of trouble. it's not really an effective gove