larry summers is the former united states treasury secretary. ry, wonderful to see you again. >> good to be back with you. >> first let's get into the g-20. christine lagarde said if the g-20 wants to move the needle on growth it needs to focus on jobs. what will it take to move the needle on growth? >> we got a real problem of inadequate growth throughout the industrial world. united states is doing much better than europe or japan. but growth performance in the united states is hardly satisfactory. we're 10% of gdp or close to $2 trillion below what you would have thought based on a trend through 2007. we got huge short falls in growth, some of that is caused by lack of demand. some of that is caused by the fact that our economy's potential to produce seems to be growing much more slowly than it should be. here's something that should worry anybody looking at the future of the american economy. over the last four years, we've grown at only about 2% and that's with the tail wind that comes from reducing unemployment from 10% to 6%. we're not goi

next on his list, larry summers. stocks to watch as we count down to the final trading day of what's been a very rocky week. this morning the futures are indicated higher. that's after a decline for the dow. "squawk box" will be right back. ameriprise asked people a simple question: in retirement, will you outlive your money? uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the exclusive.. confident retirement approach. now you and your ameripise advisor can get the real answers you need. well, knowing gives you confidence. start building your confident retirement today. that's keeping you from the healthcare you deserve.. at humana, we believe the gap will close when healthcare gets simpler. when frustration and paperwork decrease. when grandparents get to live at home instead of in a home. so let's do it. let's simplify healthcare. let's close the gap between people and care. >>> take a look now at stocks to watch. this m

that's why former harvard president larry summers calls thiel's program, quote, the single-most misdirectedphilanthropy in this decade, end quote. but a four-year degree may not be right for everyone. some two-year degrees offer real value. pay scale says students who graduated from these two-year programs earn around $70,000 a year by midcareer. these are two-year programs. and then there are these mooks, massive open online courses. they're expanding access to education. right now more than 300,000 students are taking harvard's intro to computer science for free. >> online learning is a new tool. and it behooves us as professors and universities to embrace new tools and experiment with them on our campuses. we believe that these new tools can transform campus education. >> education is still the great equalizer in our society, but the current model, a four-year degree you pay too much for is ripe for disruption. thanks for watching "cnn money." we're here every saturday 2:30 p.m. eastern. check out cnn money every day for the money news that matters to you. you can also find us on twitter

let me reduce this to a bottom line, and it was larry summers who argued in the history of the world,o one washes a rental car. do you know why you do not wash a rental car? he could you only care about what you own, and the problem is there is not enough local ownership. the arabs have to take responsibility for themselves, the arabs and syrian's. we can do a lot to help them, but we cannot create the will and the skill necessary to build thationing democracies recognizes transparency, democracy, good governance, and gender equality. we are a long way away from that. we have to protect the vital interests, secure our allies, maintain access to oil, and doing what we can to help them resolve the seemingly intractable conflicts that give rise to enormous hatred and valuation. we can play a role there, but we do not own this thing, and i suspect the president will also ofe that a central component his message tonight to the american people. >> i want to thank you very much for spending time with us, from the wilson center in washington, d.c., and we are looking forward to your thoughts

"squawk box" is up next with an exclusive interview with robert diamond, barry sternlicht and larry summers>> and still to come on the show, struging smartphonemaker blackberry reports earnings in just a few hours. are investors buying into the turn around? as we go, we'll leave you with u.s. futures. we're expecting a positive open after a big sell-off yesterday. [ male announcer ] some come here to build something smarter. ♪ some come here to build something stronger. others come to build something faster... something safer... something greener. something the whole world can share. people come to boeing to do many different things. but it's always about the very thing we do best. ♪ >>> poib. blackberry shares closed down more than 6% yesterday amid a broader sell-off in the nasdaq. keep in mind, the stock is up about 40% to date. the ceo john chen will be speaking to cnbc post earnings. that will be on squawk alley at 11:00 a.m. eastern. bringing in the equity analyst at s&p capital i.q. to get a look at what investors can expect when quarterback does report earnings, angelo, what do you

a lot of people -- larry summers is now writing about secular stagnation and talking about growth inthe absence of demand. he has always said the problem is growth rather than stagnation. >> it is primarily psychological and it has to do with whether businesses are willing to invest, whether consumers are willing to spend, whether the incomes exist for them to do that. i think the issues now go deeper than that. i think some post-war premises are now questionable. the stability and low cost of energy and secondly, the stability of the world system which was created by the united states and its allies and then evolved into a kind of single hegemony. thirdly, the nature of technologies and fourthly, the functionality of the financial system. >> how do you find the system today? >> it's a very concentrated system. >> most people do not think there are any more tools in the monetary toolkit, do they? >> i think that's a reasonable concern. i was involved in the oversight of monetary policy for a long time. i was one of the people on the congressional staff who started the process of regu

. >> even larry summers on the show last week was talking so much about the energy revolution in thestates and we need to capitalize on it. >> five years, we can be energy independent. amazing. >> that is the expectation. we'll come right back with the one thing to watch on our panel. stay with us for our one thing, next. at od, whatever business you're in, that's the business we're in with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. i can face my 3rd grade class trip. tying shoes, fixing pigtails, and chasing after them when their wonder turns to wander. hannah. new tena instadry. designed for those unexpected leaks with 864 tiny funnels to zip wetness away. and even when you twist not a drop escapes. that's fearless protection poise maximum can't match. (teacher) and i can stay perfectly dry. with tena, i'm not afraid. and you won't be either. call 1-877-get-tena. >>> we're back with our panel. what is the one big thing to watch for this week? s

. >> even larry summers on the show last week was talking so much about the energy revolution in thes and we need to capitalize on it. >> five years, we can be energy independent. amazing. >> that is the expectation. we'll come right back with the one thing to watch on our panel. stay with us for our one thing, next. whenwork with equity experts who work with regional experts who work with portfolio management experts that's when expertise happens. mfs. because there is no expertise without collaboration. i wish... please, please, please, please, please. [ male announcer ] the wish we wish above all...is health. so we quit selling cigarettes in our cvs pharmacies. expanded minuteclinic, for walk-in medical care. and created programs that encourage people to take their medications regularly. introducing cvs health. a new purpose. a new promise... to help all those wishes come true. cvs health. because health is everything. watch this. sam always gives you the good news in person, bad news in email. good news -- fedex has flat rate shipping. it's called fedex one rate. and it's afforda

names and people drop out and stuff comes out, they see how it works, and last minute, remember larry summersident obama leaked his name out. let him twist and it came out he didn't have a lot of support and he didn't name him as fed chair. it went to janet yellen. cheryl: chicago politics. charlie, thank you very much. something going to keep you busy, i'm sure. closing bell here 29 minutes from now. may be a tough choice for investors choosing between alibaba executive chairman jack ma and fed chair janet yellen. who should youon? we'll talk to a money manager who's going to take the guesswork out of the equation. you'll be surprised by the answer. >>> a west point grad showing the big boys how to do it right and helping battle buddies at the same time. the co-founder and ceo of the service company coming up next. whenwork with equity experts who work with regional experts who work with portfolio management experts that's when expertise happens. mfs. because there is no expertise without collaboration. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recog

and this is the thing i pushed back to larry summers on.straightforward thing harvard should do, just expand the enrollment. if you're doing a great job of teaching people, why limit it to 1600 a year, why not double it? >> an interesting point, if they want to fulfill the mission they often speak so much about, which is eliminating the income inequality. by definition they should expand the enrollment. >> it is like a winner take all tournament. the packaging the institutions have i think is very different from the reality. the costs have gone up 400% after inflation, going up faster than anything else has. these colleges were able to do it for $10,000 in same dollars in 1980. it's 50,000 now. and just a bloated bureaucracy. it is the various edifices complexes -- >> edifices complexes. >> and all sorts of crazy things like that this these institutions have. >> thank you. >>> in a matter of hours, the duchess of cambridge could lose her power, in just hours in scotland they will go to the polls to decide if they stay or got they are choosi

larry summers is very articulate on the point. >> that's not tax reform. that's a spending policy.ax reform is hard enough. >> i disagree. >> tax reform is hard enough. if you turn it into macroeconomic stabilization, long-term supply-side investment on the public sector, welfare policy, you have made too hard. >> know, my point, you're missing my point. my point is there are trillions of dollars lock up overseas, for example, very much as a function of the tax code. they should be unleashed to tax reform. by the way just be very concrete about this and you may not like the president's plans that as a transition to the international taxation, including this minimum tax i mentioned, there's 150 billion of one time savings that is plowed right into infrastructure investment. very concretely there's a plan on the table to do just that. you may not love it but it does link text form to these ideas. >> i want to make one comment. i thought this was a very, very interesting question is usually when you look at taxation of high income people, we think about education and incentives. how d

if you look at the last two years of the clinton administration, you know, larry summers came in as treasury8 months. in that time they passed the reform of -- they got rid of glass/steagall banking laws, passed options laws that people were unhappy with. i mean, there are a lot of things on the financial side that were impactful. you may not like them, but there's a chance to have a huge impact here. i would say to some of the candidates that are thinking about whether or not to take this job, true if you want to run for political office maybe not, but if you are sort of a justice department person or that's the kind of career you want, this is an amazing opportunity. >> that go to some of the blind spots we have in our politics. we look for the conflict. so we go and see how he's been fighting with issa. that was a long fight that never amounted to anything which was why so darrell issa was upset. they never laid a glove on him for most of the investigations. contrast that with some of the work they do below the radar. just this week this justice department under holder filed in a case in

a lot of people, larry summers is now writing about secular stagnation and talking about growth and thebsence of demand. and larry always said the problem is growth rather than the death of it that we have. >> secular stagnation is an idea, my understanding is primarily psychological, it has to do with whether businesses are willing to invest, where consumers are willing to spend, whether the incomes exist for them to do that. i think the issues now go deeper than that. and i think some premises that grew up in the postwar period are now questionable. the first is that the stability and low cost of energy. secondly, the stability of the world system which was created by the united states and its allies in the postwar period and then evolved into a kind of single hegemon if you like after the soviet union coulds lad. thirdly the nature of technologies and fourthly the functionality of the financial system. >> how do you find the financial system today? >> well, it's a very concentrated system. >> most people don't think they're any more tools in the monetary tool kit. >> and i think that

larry summers, commissioner on investing came out to show it is one of the best investments that can be made with respect to economic growth in the economy. ministers of finance really need to understand these sorts of investments are not only ones that help people live and survive, but ones that make abundance of sense in terms of prosperity and economic growth. having said that, in addition to mobilizing, as larry said in, hopefully the commencement level of response, and i would like to make it clear, that we are about 25-30% of the mobilization necessary is the who roadmap of 400 90 million and have not heard it from the u.n. senior warden nader david navarro in terms of what is required above of the immediate health response to respond to the crisis. the price tagged will go up. there is a long way to go to respect of the immediate response. the challenge is that it needs to happen tomorrow, not in three weeks. i was listening to the president of the u.n. this morning. and she said we need a search force capacity at which is paramilitary in character. she was saying the biohazar

evidence.ve tons of larry summers, commissioner on investing came out to show it is one of the best investments that with respect to economic growth in the economy. really need finance to understand these sorts of investments are not only ones that help people live and survive, but ones that make abundance of sense in terms of prosperity and economic growth. toing said that, in addition mobilizing, as larry said in, hopefully the commencement level of response, and i would like to are aboutear, that we 25-30% of the mobilization ofessary is the who roadmap 400 90 million and have not heard it from the u.n. senior warden nader david navarro in terms of what is required above of the immediate health response to respond to the crisis. the price tagged will go up. tore is a long way to go respect of the immediate response. the challenge is that it needs to happen tomorrow, not in three weeks. i was listening to the president of the u.n. this morning. and she said we need a search at which isty paramilitary in character. she was saying the biohazard haved that many countries has to be deployed in th

larry summer, larry sternwick and robert diamond making some waves at the nantucket project conferencet, what they said about this stock market. and the financial world has been digesting the news that the bond king pimco's bill gross has left the room. he's left the company he co-founded anyway. in fact, going to a different room. coming up, jane wells looks at the intrigue surrounding this story and didn't end well between pimco and gross. we'll be back. >>> welcome back. andrew ross sorkin talking at a conference in nantucket and asked them about the selloff yesterday and where the stocks might be headed for the rest of the year before anyone knew we would have a snapback today and here's what they had to say. >> there's no question that assets are more fully priced than they were 18 months ago. yes, price earnings ratios are a little high by some measures but that's what you expect when real interest rates were low. >> i think it's more reasonably priced than that. i think a lot of the key factors in terms of they're still inexpensive money and oil prices are reasonable level. i th

we see that coming russian mark >> some people will say they have seen it coming beginning with larry summerse notion that we are persistently underperforming relative to the capacity of the economy or growth and that that will feed act to reduce the potential for growth. one thing that goes with this chart. we have spent the last five years since the first takes stimulus bill in response to the crisis, totally relying on central banks. this isn't just a diversion of economic conditions version of ideology. >> i'm going to suggest an optimistic tone versus what i hear from bill gross which is more cautious and subdued. those are the tensions you're faced with every day. there are people saying things are great and others saying no way. >> the two may not be as diversion as you think. in reality you can have a strong market and one of the reasons it has been strong, in the context of a subpar economy. there are side effects that of help. subpar means low inflation and low interest rates. wages have been slow and margins have been flatter. this is a good recovery for wall street. central-bank a

larry summers who in his life was sprayed with human repellent himself wrote an article recently about and second term presidents going back to fdr and the only person who accomplished anything significant was reagan with the tax reform in his second term. everybody jumped ship going to private enterprise, there are no grown-ups at home in the white house and what you are going to see is decline throughout the rest of this term. stuart: here is the question for you. if the republicans sweep the senate, if they take control of the senate which is likely, not obvious but likely, will we see a stock market rally and will we see an economic expansion because of that take over? >> any change will help. i enjoyed your interview with mr. ford's earlier on your show and his point is significant. the republicans don't have a plan. this is the most anemic year of anything getting done in congress in congress's history and they have been terrible up to this year. i don't see a lot of hope out ublicans take over if anything if anything is better but nobody there has a plan. stuart: brian kilby, th

return on investment from investments in health and here, we've got a just a tons of evidence, larry summerscommission on health came out and showed this is one of the best investments that can be made with respect to you know, economic growth and the economy, so ministers of finance and this is a job for the bank, really need to understand these sorts of investments are not only ones to help people live and survive, but they're ones which make abundant sense in terms of prosperity and economic growth. having said that, in addition to mobilizing as larry said, hopefully the commensurate level of the response and i'd like toe make it clear that we are aboutn 25 to 30% of the mobilization necessary against the w.h.o. u.. road map of 490 million and we have not heard from the u.n. senior coordinator, david nabarro, in terms of what's required above the immediate health response to respond to the crisis, so the price tag will go up and so, there is a long way to go with respect to the immediate response. the challenge is that it needs to happen tomorrow. not in three weeks. and i was listening t

stuart: the most entertaining guest segment of the summer. larry the cable guy. british accent. ♪ when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. stuart: larry the cable guy. a good friend of this show. we gave him the commercial. that is not where the interview ended. >> stuart, that is unbelievable. it is about time you got your it just sounds different. stuart: prilosec, i am here to tell you in the audience that that product works. you would not advertise it if you had not tried it. >> you would not believe this, stuart, but i am a frequent heartburn sufferer. when they came to me, i said, hey, i use it. i really

summer is over and fall is beginning, we are thrilled today to come together as a of larry's work and his important opus on global health law that has come out this year. when larry raised the idea a few having a bookut event, we do different kinds of book events. we were honored to be able to do that. he is such a pillar of our community here. he has done so much over the years in leadership at the o'neill school of medicine and his prolific output. he has had so much influence over all of us in such a constructive, forward looking, gracious way that we thought it was a great occasion. forward l, gracious way that we thought it was a great occasion. thank you for turning to us and let us pick it up. we are thrilled to be able to do it. we also thought, let's do this as a conversation around big questions and big ideas and bring in larry's closest friends and allies over the years that could help in the celebration in a deliberate tom at interactive brisk discussion. the. agreed to since 2004. another huge presence in our matters pertaining global health. we will be joined by tim evan

robert rubin, larry summers and alan greenspan were determined not to regulate, not to regulate the expandingsectors of the financial economy like derivative trading and securitization of mortgages. they forced other governments to deregulate financial controls as a condition for free trade pacts and as a condition for securing financial assistance during the asian financial crisis of the late 1990s. after 9/11, memories of the berlin wall coming down whetted the appetite and tempted officials to use strength. and to use force. displays of u.s. power would be met with enthusiasm. memories of the jubilation of berliners of 1989 made them think that the toppling of saddam would be greeted with the same enthusiasm as the dismantling of the wall. on november 9th, 2001, bush 43 declared world freedom day. he said, quote, like the fall of the berlin wall, and the defeat of totalitarianism in central and eastern europe, freedom will triumph in this war against terrorism. and a little over a year later, observing the videos of the toppling of saddam's statue, declared, quote, watching iraqis one cann

interviews with former barclays ceo bob diamond, barry sternlicht and former treasury secretary larry summersin nantucket. >> stop. while every business is unique, everyone is looking for ways to cut expenses. and that's where pg&e's online business energy checkup tool can really help. you can use it to track your actual energy use. find rebates that make equipment upgrades more affordable. even develop a customized energy plan for your company. think of it as a way to take more control over your operating costs. and yet another energy saving opportunity from pg&e. find new ways to save energy and money with pg&e's business energy check-up. >>> welcome back to "squawk box." steve ballmer sitting down with josh lipton to talk about his new job as owner of los angeles clippers. let's take a look at the advice he was given. >> there are a lot of people who can and teach you, inform you, coach you up. adam silver. that's been great. paul allen, mark cuban. dan gilbert owns the cavaliers, another detroit guy like i am. pete carroll who is my neighbor and coaches the seahawks. john schneider, they

larry summers coming in as head of council talked about what i that would mean for the economye trilliondollar hole in the economy in 2009. trillion dollar hole in 2010. millions of jobs lost. time geithner spoke, treasury secretary incoming, saying the banking system is locked up and could collapse. no loans are given. then to cheer everybody up, youl within this and steps we need to take with it, will add significantly to the debt and deficits. so at this point, the presidenti e entertained, dismissed the notion of asking for a recount. and what began was we basicallyn became a triage unit trying to right the economy in the quartee we took office. economy shrunk by 8.9%., the worst since 1980. l losing 800,000 jobs a month. stock market was headed to 6500. and we had millions of foreclosures and it was the worst situation any president as had faced since roosevelt in 1933. was and what was thought a recovery act, a time when people were concerned about deficits, buyt necessary to plug the hole in the economy, we had to take steps to stand up the financial industry which was reviled at

we're talking with larry summers, former treasury secretary, of course.n the ground. he continues to say no boots on the ground, even though he wants to destroy isis. general jack keene is going to be with me. john watson, chairman and ceo of chevron is going to weigh in about getting -- >> oh, my gosh! how about some hope from the dolly lama? how did you book peter keale? >> i think it's the perfect time to talk about alibaba and the nsa, by the way. i also might ask him could it be possible that the irs e-mails are gone forever without somebody intentionally getting rid of them? i think he probably has a comment on that. >> thank you. >> thank you. >>> maria, always great to see you. >>> coming up here on the show, do your coworkers seem daze and had confused on that monday morning meeting? could they be stoned? it's happening more than you think. not on this show. >> and it's sunday. that means football. and wing time. celebrity which he jay jackson has some easy recipes you can make yourself and you won't find them anywhere else. stay tuned. . with ce

larry summers is very articulate on the point. >> that's not tax reform. that's a spending policy.x reform is hard enough. >> i disagree. >> tax reform is hard enough. if you turn it into macroeconomic stabilization, long-term supply-side investment on the public sector, welfare policy, you have made it too hard. >> no, my point, you're missing my point. my point is there are trillions of dollars lock up overseas, for example, very much as a function of the tax code. they should be unleashed to tax reform. by the way just be very concrete about this and you may not like the president's plans that as a transition to the international taxation, including this minimum tax i mentioned, there's 150 billion of one time savings that is plowed right into infrastructure investment. very concretely there's a plan on the table to do just that. you may not love it but it does link tax reform to these ideas. >> i want to make one comment. i thought this was a very, very interesting question is usually when you look at taxation of high income people, we think about distribution and incentives. h

larry summers and other schemata sure this show this is one of the best investments that can be madeh respect to economic growth and economy. so ministers of finance, and this is a job for the banks, really needs to understand that these sorts of investments are not the only ones to help people live and survive, but they are ones which make abundant sense in terms of prosperity and economic growth. having said that, in addition to mobilizing, as larry said, hopefully the commensurate level of the response, and i would like to make it clear that we are about 25-30% of the mobilization necessary against the w.h.o. roadmap of 490 million, and we have not heard from the u.n. senior coordinators, david nabarro, in terms of what's required above the immediate health response to respond to the crisis. so the price tag will go up. and so it is a long way to go with respect to immediate response. the challenge is that it needs to happen tomorrow. not in three weeks, and i was listening to the president of msf at the u.n. this morning, and she said we need a search force capacity at which is p

. >> i can tell you, i've been taken aside by professor lawrence summers. lar larry were basically talking about this inside for now, what we can do against ukraine rather than what we can do against russia right? >> it's right to if for on responding to what russia has done. ultimately, ukraine's future is going to be determined by what happens with its economy. these last 20 years have not been easy years for ukraine economically. obviously, the conflicts greatly magnify the challenge and yet there's really no alternative. if ukraine is going to flourish in the 21st economy. that needs to be a both for both side in providing party pore ukraine can the international solutions. >> they didn't complete their imf programs, larry. plus you have this layer of being one of the most corrupt countries in europe, as well. there's@of issues to be sort out. >> but if the west does not provide support, given erlgs, there may not be an doesn't for those issues to be sorted out. so this is a time for both sides to step up, for support to be provided in a strong and comprehensive

we are going from unstable conditions with thunderstorms right now to summer-like heat by the end of next week. larry and cheryl? >> spencer, thank you. >>> up next, red-hot anticipation for abc's once upon a time, taking a spin on the disney animated smash frozen. we will give you a preview of what to expect. >>> new after 4:30, his days of being single are ending. the frenzy that george clooney has created as he gets ready to tie the knot. is it the biting? ...we need to break up. cuz i can stop? no! i love you and your show. it's cable. customers are more satisfied with u-verse. switch and we can stay together forever. forever? ow. i'm not gonna lie to you. it's also the biting. break up with cable. choose u-verse tv from $19 a month for 2 years. >>> abc's once upon a time returns for its fourth season sunday with a spin on the disney animated smash frozen. >> abc 7 entertainment reporter has a preview. >> the show is clearly made for elsa. >> reporter: the familiar characters from frozen make their way to storybrook sunday night on once upon a time. the characters who made the fictional city thei

larry and katie. the weather here for this final day of summer is just absolutely beautiful. there are some high clouds moving in but these are harmless high clouds. in just over two hours, autumn arrives. let's check out live doppler 7 hd. we will talk about a fall storm that is developing in the pacific. right now, we are just seeing those high thin wispy clouds across the bay area. like i said, they are harmless. it was a little warmer today. we are keeping an eye on the smoke from the king fire that has been drifting towards the west. this morning the winds switched around and this afternoon, we saw the wind swing that smoke around towards the tahoe area, where they have been dealing with some smoky skies. dense smoke advisory for that region until 8:00 p.m. it also covers parts of reno. we also have a red flag warning that covers the foothills up towards northern california. begins 2:00 p.m. tomorrow, runs until 8:00 p.m. wednesday. here is a view from our lake tahoe cam. skies are still hazy but this is an improvement, believe it or not, to the dense smoke advisory stil

summer end? >> august, last part of september. >> thank you. >> okay. >> now, larry beil here with sports. >> whaters do? options into sunday's season that will be $22 dollars and 50 cents. $22.50. that's insane! jack. what? it's not even a meal? right now, at my place you can get my spicy chicken club combo. it's my classic spicy chicken breast with bacon and melting cheese on toasted sourdough plus fries and a drink for just $4.99. aww, you're just a big softy. nah, i'm still sad about the popcorn. >>> good evening, 49ers insist domestic violence will not be tolerated. do they suspend ray mcdonald following charges of abusing his pregnant fiancee? or let him play while the legal process plays itself out? general manager noticed today, he has two daughters and no tolerance for domestic violence and says niners are investigating the situation and no decision has been made. >> we're in the mode of finding out as many facts as we can, talking to as many people as we can. and to make the best decision for everybody involved the organization, players. and everybody. >> on the positive side, return of

summer end? >> august, last part of september. >> thank you. >> okay. >> now, larry beil here with sports. >> what should 49ers do? options into sunday's season opener next in sports. jenny jenny carlos alex carlos good morning burrito team! we set out to make a bigger, tastier breakfast burrito and i think we nailed it. introducing bigger, better breakfast burritos. the grande sausage, packed with hash browns, sausage, and creamy sriracha sauce and the meat lovers, sburritos so big, they make severything look smaller.a warm guerrero tortilla.g, they make is it the biting? ...we need to break up. cuz i can stop? no! i love you and your show. it's cable. customers are more satisfied with u-verse. switch and we can stay together forever. forever? ow. i'm not gonna lie to you. it's also the biting. break up with cable. choose u-verse tv from $19 a month for 2 years. you have made my life special by being apart of it.ecenough. (everyone) cheers! you made it buddy. glad you made it buddy. thanks for inviting me. thanks again my friends. for everything, for all your help. through all life's milestones,

zack shepard, jonathan murray, larry shover see you in a cummins when s&p futures close. liz: sun sets on summer. david and i say, that was a great vacation, will it also set the market rally on fire, or dampen it? since 1886 september has historically been the worst month for stocks. if history repeats itself are you ready? we'll sell tell you how to reposition your portfolio for a potential decline this fall. david: talk about repositioning, detroit's historic bankruptcy trial gets underway today, with billions of dollars in the future of the city at stake. who will pay the most for the city's mistakes and what does it mean for bond all over the country? a lot of munis out there. liz: apple suffering a hack attack that exposed celebrity nude photos. who is to blame for the breach? can a company really be aware of all of its flaws? we'll talk to an ethical hacker about what companies can do, should do, but aren't doing. most importantly, forget them. what can you do to protect yourself beyond, don't take nude photos? david: my nude photos are out there. been out there a long time. look at them,

larry ellison steps down from oracle. what this means to the company's future. >>> i'm abc 7 news meteorologist sandhya patel, tracking summerhowers today. what's ahead for the weekend. >>> live, from the kgo broadcast center, this is abc 7 news. >>> unprecedented conditions. >> fuel-driven fires because the vegetation is so critically dry. >> the king fire in el dorado county shows no signs of slowing down. >> there's no estimate of containment for this fire. >> officials say this fire is aggressive and dangerous. good evening,. >> they also say it was started deliberately, and an arson suspect is now in custody. the officials arrested wayne allen huntsman, there's his face, the 37-year-old is being held on $10 million bail. this king fire doubled overnight to more than 71,000 acres. 12,000 homes are at risk. the fire is costing $5 million a day to fight. the governor has declared a state of emergency. let's go live to laura anthony. laura, this fire is really proving tough to get a handle on. >> reporter: well, it is, dan. in part because of the terrain. i'm actually standing right next to highway 50, still closed, has bee

larry bossidy. we are watching the weather this morning and a serious late summer storm. out these pictures coming in at this hour. hurricane odile causing serious damage to buildings and infrastructure in mexico's baja or should i call it baja, california? the storm has been downgraded. but continues to barrel through the region. odile is one of the worst storms ever to hit he luxury retreats of cabo and la paz. >> it is odile. >> odile. >> now to today's top stories. federal reserve policy makers begin a two-day meeting today. when the central bank issues its statement tomorrow afternoon, many expect the fed to remove the phrase "considerable period" for how long ultra low rates might last. we need to tell people that are on the radio, down 24 on the dow. down 24. and the s&p down 1.93 points is where it's indicated for an implied open. the 10-year which got to 2.6 is now 2.56. but if you just look at the last three weeks or so, it has gone from about 2.3 up to 2.6 pretty quickly. pretty sharp rise. we'll see whether it turns back down and stays in that -- you can see t

summer, charged with assaulting his ex-wife. jose conseco pleaded no contest to domestic violence charges back in 1998. while there's no official league policy, giants ceo larry bair said he's in favor of anything that acts as a deterrent. >> it's up to every team in every league to call attention to the issue, and highlight the issue and do whatever they can. >> reporter: for the past 1 years, the giants have held a strikeout violence day at the ballpark. this coming sunday it will feature a nonprofit called futures without violence. that group believes every workplace needs a domestic violence policy. >> sports leagues in particular we think have an additional responsibility. because they do hold social value. and young people and fans are watching every move these players make. >> reporter: her organization has sent recommendations to the nfl, on training and education, in light of the ray rice incident. in san francisco, carolyn tyler, abc 7 news. >>> still ahead on abc 7 news at 4:00, something's wrong with former governor schwarzenegger's new portrait at the capital. we're talking about a cover-up. >>> also, an 81-year-old man will make the swim from al