it is your birthday but it's also whitney houston's death.angeles on we came here on co-anchored all night long with a really heavy heart. it was one of those desperately sad things to have happened in the business. i remember. you were 9 years old when you sneaked in to see your first ever concert, a whitney concert. >> yes. >> you started with her in the 1997 movie "cinderella," she played your fairy goodmother. >> your brother, ray, was dating her. >> they were really close friends. >> i realize that's how you want to characterize it. so an incredible journey you went on with whitney houston. tell me about it. >> wow. from the very first time i saw her, i was completely blown away. her music, her voice, just everything about her just touched my spirit in ways that no other singer could. you know, working with her on just sharing moments with her were just unforgettable. one. last things that we talked about was me going forward on what i had to do in terms of my connection with my fans on music on she just told me, you know, you just have

it's your birthday, and it's also the day whitney, your great friend, died.k to you about that. have a good night. here you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. on any new volkswagen. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with n

thousand and twelve municipal bonds traditionally seen as a safe investment were the basis of marin's whitney's crisis warnings in two thousand and ten now she predicted hundreds of billions of dollars in default over the next twelve months which never really came to be but since then we have seen some high profile city bankruptcies particularly in my home state of california so is there a dark underbelly lurking in muni land and how might the fiscal cliff impact this three point seven trillion dollar market we'll ask the author of the warders dot com muni land column long and you may wonder how the fiscal cliff impacts news well it's a potential change to the tax exempt status of municipal bond interest yeah they're federal tax exempt more you may not know about you know simple bonds and our word of the day plus apple concedes defeat one of the world's coming due after what wired dubbed map map the hawk the libs or its disaster of a map app on the i phone five google mountain is back we'll discuss in loose change let's get to today's capital account. all right let's back up a little bit in lat

let's back up a little bit and late two thousand and ten it was prominent banking analyst meredith whitney is a big call there's not a doubt in my mind that you will see a spate of municipal bond evolves how many is a speed you could see fifty sizeable defaults fifty to one hundred sizeable default more this will matter to hundreds of billions of dollars worth of defaults it'll be something to worry about within the next twelve months. ok now it failed to play out as she seemed to indicate it would over the following year in turn pretty much ever since we have seen a spate of headlines similar to this murder of whitney unocal was one hundred percent wrong according to a bond pro there however between two thousand and ten and now we have seen cities and counties run into trouble and in some cases file for bankruptcy they reportedly have included san bernardino mammoth lakes both in california central falls rhode island jefferson county alabama a few others have filed for bankruptcy but had their claims rejected and over the summer stockton california was poised to win then subsequently did

. >> craig whitney on the history of gun ownership and gun control in america. and from living with guns, a liberal pays for the second amendment. saturday night at 10:00 eastern. part of four days of non-fiction books and authors through christmas days. as the electoral college met monday, we spoke with a social studies teacher at pioneer high school in ann arbor, mich., about how she teaches the look for a process in use the c-span as a resource. >> tracie van newsom is a high school and social studies teacher. >> tracy is a high-school social studies and history teacher. fellow, and she is joining us on the phone. what is your approach? >> the electoral college is something that is definitely challenging to students. they have heard of it before, and fortunately i have been using the like doral college map. it shows who got the votes in 2008. it has the new census figures, so i explained it in my unit. we talk about the fact we do not directly elect the president. he or she is indirectly elected through the system, and we talk about how many votes each state

meredith whitney will be my guest tomorrow. talking about this call where she upgraded the banks today. she is telling clients this right now. my next guest is one of the most well known analysts due to his early warnings on the 2008 financial crisis. you know he is leaving rochdale securities after another unauthorized trade by a colleague put rochdale in the red. dick bove is with me more to talk about financials. dick, good to see you. thanks so much for joining us. >> thank you, maria. >> so who are you likely to sign with? there are rumors you're heading to rafferty or cantor. what's your plan? >> i've had an opportunity to look at 20 firms in the last couple months. i've interviewed with 11 of them. i came up with ten offers. basically what i decided after going through the industry is that what i want to be is an analyst who speaks their mind, so i'm looking for a small firm which is well capitalized and has a consistent record of profitability. and fortunately there are a few of those out there. and apparently there are

i love the still photos of whitney during the bodyguard series in the early '90s.were absolutely stunning. and it was such a pivotal point in her life, get iting married, having a baby, becoming an icon. those are my favorite pictures. >> the one i love is a picture where she's clearly holding bob kristichlt na as an infant t gives you all the potential that really she struggled with down the road. there's a picture in the bathroom. let's throw that up on the screen first and then we'll talk a little bit about it. >> okay. >> that's a great picture. tell me about that picture. >> you know what? that photo was taken by randy st. nichols here in atlanta in 2010. and, actually, it was a photo shoot for her world tour. she was absolutely stunning. she was in a great mood. and, of course, it helped that the photographer was randy st. nichols. they had such a great, great relationship. and she just not only captured the moment but she captured whitney was absolutely amazing. she had a lot of fun. she was like a little girl. >> there's a great picture from the 1990s, whic

an incredible journey you went on with whitney houston. tell me about her. >> wow.e very first time i saw her,her, i was completely blown away. to see her music, her voice, everything about her just touched my spirit in ways no other singer could. and, you know, working with her and sharing moments with her were just unforgettable. and, you know, one of the last things we talked about was me going forward and what i had to do in terms of my connection with my fans and music and she just told me, you know, you have to be yourself because when you are yourself, that's who people will fall in love with. and -- >> was she herself towards the end, do you think? or had she just got lost in the maelstrom of fame and abuse and all the rest of it? >> one of the things that i can't -- i can't put my mind around is where she really was because, you know, at the end of her life, i wasn't there. i wasn't around. i didn't talk to her as much, which is one of the reasons why it was so hard for me to get over her passing is because i felt like i wasn't there enough for her at the e

houston, and all those you pointed out, but the whitney houston won. music makes it all the more haunting. hers is so tragic. dick clark, at least he is exciting and lived a long life but whitney houston is one of those tragic drug deaths that's way too early for someone to die. >> we all hoped it would turn out differently but it didn't. when you open up that package with that song, you get chills. you still do. >> how about kate winslot? she got married. >> she did. she married ned rock and roll. yes, that's his name. it was so secret apparently their families didn't know. after spending time with the families the last couple days, who can blame them? >> another one we forgot is the rolling stones. they are back. >> the rolling stones. you know, i was saying earlier. >> that's before -- i mean that's after your time, isn't it, michael? >> yes, after. but, no, two iconic entertainment brands, the rolling stones and james bond are both celebrating 50 years and are both raking it in at the box office. it's phenomenal. >> have you ever been to a stones c

they're also very lucky. >>> plus, a disturbing report about whitney houston.vate investigator says she was murdered. and he says he has proof. stay with us. [ male announcer ] rocky had no idea why dawn was gone for so long... ...but he'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ i get congested. but now, with zyrtec-d®, i have the proven allergy relief of zyrtec®, plus a powerful decongestant. zyrtec-d® lets me

. >>> meredith whitney says it's time to buy. they have upgraded citigroup, bofa and financial services from hole to buy. but speak, cnbc, she said the reasons for her shift in view stem from rises that will follow the fed's stress test in january. henry, there was a little bit of snashg after these comments from meredith. because after all, some of these names she's focusing on are up 90% this year. is there a reason still you think this rally can run? >> it is still an error, absolutely, definitely, that we think is incredibly interesting. and also, i think the uk in equities is making a transition from being inferior to that whole distraction. but there are the advent of contingent convertible bonds. which in my opinion makes the investments. we still quite like financials. i think what we're seeing in the money markets means that margins will continue to improve at very low levels and the interest margins, not to say that they could double, they could go from 1.5% to 2%. we quite like them, absolutely. but probably some of th

. >> the breaking news of whowft -- whitney houston's death. >> reporter: whitney houston died february 11ing in the a hotel bathtub, the night before the grammy awards. houston's death was pan accidental -- an accidental drowning with cocaine and drug use as contributing factors. reporting for cnn hollywood. >> disney buying lucas films, low on that list. we put together a list of the biggest web stories here of the year. you can check out the stories, everything from the question over ballot questions to the dangers of wearing skinny jeans. check out the featured stories fee complur. >>> we are going on ride with police. we take a look inside one local mall has customers hunt for post holiday deals. now a preview of what's ahead on world news at 6:30. >> a mastiff winter storm on the move. our exhibit stream weather team in it and sam champion with the latest track. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need

whitney hooston, whh battled witt &pdrugs and alcohol for decades bathtub attagee48...he night beffre the grammy awards.. houston's deeth was an accidental drowninn with the effects of heart disease and cocaiie use as contributing factors. nats: and i will aaways love youlooking ahead.. one of the biggesttstories for 2013 will most likely be the pirth oo the rooyllbaby.ssaa tunnd.i'm cannace dold and that's your lowdown. we are waitiig forrpresident barack obama to sseak with reporters on the piscal cliif egotiatioos. this ii a live looo at the briefing rrommin the white house. we'll bring yyu tte president's comments ooce he arrives. 3 --adblib weather tz-- about getting fios, it's about getting fios. that moment after you finally got it that you actually get it. when you see the difference 100% fiber optics makes, and you say "woah we are not on cable anymore." when online videos aren't herky jerky, you get it. or when a movie downloads in two minutes, you get it. last chance to get fios for just $79.99 a month for two years with a two-year agreement. plus $300 back.

houston it makes you happy ok well how they were talking about whitney houston's death i don't know what she got a lot of hits on you tube it was a lot of. yes she saw a lot of albums afterwards you know it's it's the old adage you want to be successful you should ok and elizabeth what do you think about the list i just read out. i'm a great believer in soft power i'm a great believer in what graham she called the superstructure to culture popular culture i have found it in culture which i haven't and i think these things matter to people i think especially the fact that you can share. videos on you tube music . and that you can discuss this with people on social networks i think that actually matters and i think politicians don't always follow i was fascinated by the fact that though some do and for instance the the last israeli operation in gaza was also fought on the thought of the social network where you hand on the one side you had the hamas with the same brigade twitter account and the idea of twitter account and they were studying out and sending out different thoughts and i

let's back up a little bit in late two thousand and ten it was prominent banking analyst meredith whitney is a big call there's not a doubt in my mind that you will see a spate of municipal bond evolves how many is a spate you could see fifty sizeable defaults fifty to one hundred sizeable default more this woman out to hundreds of billions of dollars worth of defaults it will be something to worry about within the next twelve months i don't know it failed to play out as she seemed to indicate it would over the following year in turn pretty much ever since we have seen a spate of headlines similar to this murder of whitney unocal was one hundred percent wrong according to a bond pro there however.

let's just start with a very big picture and tell us where you are in terms of are you more with team whitney who saying they're still going to be more pain in union land or are going to be more defaults more disasters this is not going to end well or are you more in the camp of those say i'll say david kotok camp who is someone that's been on our show who says meredith whitney was dead wrong ok the key in the land is to do your homework and just avoid the trouble spots that i mean it's a lot of municipal bond in a list that analyzes many many credits at the individual level and then you have the rating agencies and all these folks you know generally feel the land is pretty strong we have weak spots california as you said they've had some structural revenue problems there and there's harrisburg pennsylvania that will probably file in the next month or so detroit is the very big one but for the most part u.s. credits are strong and the yields in the municipal market are at historic lows we have massive demand so generally it's a strong bright picture but there are these kind of dark spots that

you probably stand exact opposite of meredith whitney. no? >> well, i think you were making exactly the right point. people don't understand that the game has changed. look at me. i've just gone to work for a large nonbank officer lender. we have a completely -- >> that sounds awful. i'm kidding. >> but looks this is the feature. we're sitting here two years from now talking about the top four money center banks, mortgages is not going to be the driver of volumes or earnings. when you talk about bank of america, you're going to be talking about a company with a bigger dividend and probably going to think about meryl lynch first. now, think about what a radical change that is, if you've been following the stock for the last ten years and gain on sale for mortgages has been the number one driver of volumes. >> right. okay, but bank of america at $11, given these new circumstances, is it worth a bite here? >> it's worth a buy, if you go to the franchise value story, you like that story, and you think they're going to escape the worst scenario wi

this one i'm someone a graphic on but i do know that meredith whitney predicted that this year would be it and the fact that we got to the end of one year is is of is is not data to me everything takes longer than you think it's going to take and i don't know why she said this year because we can just keep putting it off for a long time but but they're there and pull examples of cities that are just broken their states that are that are have their pension plans that are forty percent underfunded and you know i did the math and i point out the thirty you have to pay thirty thousand dollars per taxpayer in the contrary to bring the state pension plans up to speed so there's just there's problems everywhere and there's still people who are overpaid and still so i could be wrong kate could be right but i'm betting on america you're betting on america ok and then quickly before we go i guess just to sum it all up what do you think is your biggest concern moving into two thousand and thirteen because you are kind of a perma there and the thing you're most excited about. i'm excited about n

i actually like meredith whitney but i really believe meredith whitney's stature and credibility wenton fat, two years into it or two or three, really bad. i am not saying -- liz: they will all be at fault. charlie: 50 to 100 large issuers defaulting in 2010. they're not large. it is not this massive implosion. it could happen if we had a fiscal cliff but she was wrong. connell: liz: thank you very much. charlie gasparino. markets remain complacent. i would not call 48 point loss complacent but the fact is we are above 13,000. the dow has had a couple decent moves over the past couple weeks. let's bring that kimball broker with some ideas looking at those international and national things. let me start with your first play which is a japanese equity. amazes me you are sticking with this. it hasn't done much. sell me on this security company. >> it is the largest electronic security business in japan. they monitor security alarms and firearms. it is a 60% market share of that business. it produces a very stable cash flow from its subscribers which has grown a little bit over time. japa

whitney in true fashion, after me trying ten different times.ten, i'm a mother and i'm a woman and i'm single, and you're not coming over to my house in the middle of the night. in a way that only she could. but it's beyond tragic. and i was so disgusted. i must tell you i was so disgusted at the media and the way that they handled her death. it was so blatantly disrespectful. the paparazzi -- see, this is what i mean about fame and even in death. trying to get her, just her body from the morgue to the plane. >> because you supplied the plane, didn't you? >> i did. i did. and there was -- it was beyond awful. i tell you, we tried to send a hearse as a decoy. they found out we had the body in a van. and there are paparazzi 50 deep following the van. i had them move the plane into the hangar and close the door, bring the van in. one person, one of the hired drivers is trying to take pictures of them putting her body on the plane. it was just beyond disrespectful for her family and everyone else. and i understand she was a superstar, but she didn't