of course we are aaa. better than aaa. we should have a quadruple category just for us the countries in the 18 countries in the aaa category. they lose the nation, they can't compare with us. we need to understand. we are not aaa. $15 trillion in debt to get the tripoli. ten times that in the unfunded liabilities you can't be aaa. cecil rhodes actually it wasn't the great british imperialist was an unpleasant man but he left one memorable, i forgot where i was for a minute. [laughter] i've got to remember the atoka felch it's a big cheer in new hampshire and cecil gets cheers in south africa. i've got to remember. [laughter] i took the wrong desolation bill the deplorable british imperialist. there's still the assumption of the generations when he said to be born and englishmen was to win the first prize in the lottery of life and on the eve of the great war he got around to taunt the ruling class the too smart and self observed to see what was coming. do you think, he wrote, the laws of god will be suspended in favor of e

of course we're aaa. we're better than aaa. we should have a call kruper pell a category just for us. the loser countries, 18 countries in the aaa category, they're loser nations. they can't compare with us. we need to understand, we are not aaa. when you got $15 trillion in debt you can't be aaa. when you have 10 times that in unfunded liabilities you can't be aaa. cecil rhodes the great british, actually wasn't a great british imperialist, remarkedly unpleasant man but he -- forgot where i was for a minute. got to remember.

means aaa means aaa across the board anybody they didn't learn in the two thousand and eight crisis that doesn't apply should find another line of work but there you go again that's more hazard because it's up to whoever the job bad don't discount is running some pension fund for you you have to hope that they learn their lesson because the crooks are not behind bars they are setting policy they have christine legarde threatening countries around the world for them well the rating agencies use the ratings to stabilize the market to create volatility so that their friends can make money trading things like the volatility index the vix and if you have advance knowledge about what the reading injuries are going to do and they give out advance dollars to their friends and on the exchanges you can buy and sell the vix the v.i.x. the bell till the end x. and make money that works well ok so if you think this is all accidental again like . that this is going to start let's look back at another cable viewing cable zero seven paris four one zero nine paulson discusses financial markets iran'

morgan sub prime mortgage bonds getting aaa rating s. and p. denies to u.s. treasuries so standard and poor's is giving a higher rating to securities backed by sub prime home loans the same type of investments that led to the worst financial crisis since the great depression then it assigns the u.s. government now these aaa subprime mortgage backed securities one of the participants of this is a i g. which is owned by the same government that is now suing these other guys who are that it's the same is the same circle of of a psychopathic schizophrenia schizophrenia schizophrenia back. as i was. right it's good for the background and you can buy when they change but as you're doing it make sure that you look at yourself in the mirror collateralized by your own image slice and dice your invention by the schizophrenia cloud was gone and taken a kind of drug like doing it and you yourself can become as rich as lloyd blankfein sitting on trillions of dollars a fair person which actually sort of the article here quotes gregory w. smith the general counsel for the f

government now these aaa subprime mortgage backed securities one of the participants of this is a i g. which is owned by the same government that is now suing these other guys who are that it's the same is the same circle of a psychopathic schizophrenia schizophrenia schizophrenia back bought. as i was. right it's getting pretty backbones and you can buy my things change but as you're doing it make sure that you look at yourself in the mirror collateralized by your own image slice and dice your image by the schizophrenia class and take a problem and i kind of drugs like doing it and you yourself can become as rich as lloyd blankfein who's sitting on trillions of dollars of currency which actually is worth something the article here quotes gregory w. smith the general counsel for the forty one billion dollars public employees retirement association of colorado and he says everybody has been led to believe over the years that aaa means aaa means to play across the board anybody that didn't learn in the two thousand and eight crisis that doesn't apply should find another line of work but

we are not aaa. when you have $15 trillion in debt, you can't be aaa. the unfunded liabilities. special roads, remarkably and present, but he did leave one memorable. forget where i was for a minute there. a big chair in new hampshire. big cheers in south africa. i have to remember. i took the wrong pill before i walked on. so deplorable british imperialists. [laughter] the assumptions of generations when he said that to be born and englishmen was to win first prize in lottery of life. on the eve of the great war george bernard shaw turned the thought around to taunt a ruling class too smart and self-absorbed to see what was coming. to you think the laws of god will be suspended in favor of england because you were born in this? in our time to be born citizen of the united states is to win first prize in a lottery of life. as britain's did, too many americans assume it will always be so. steve you think the laws of god will be suspended in favor of america simply because you were born in it? think carefully about that question. when you live in the north country, when you live i

aaa says people are still concerned about the economy and gas prices.the average price for a gallon of gas is $3.81 a gallon in california up 8-cents from just a week ago. this is no holiday for the highway patrol, officers will be out in maximum patrol for the labor day weekend looking for drunk drivers. next year more than 1,500 people were arrested for driving under the influence. 21 people were also killed. >>> of those 21 people about 50% may have been alive today had they belted. so we're hoping people will buckle up and drive sober. >> reporter: local law enforcement will be holding dui checkpoints during the long holiday weekend. >>> right now a fire is forcing evacuations and in passing a busy freeway. >>> big waves are hitting santa cruz and the california coast. coming up how the surges are prompting warnings. >>> and we're looking at the long weekend and the heat. ♪ ♪ free access to chase atm's wherever you are. that's a step forward. chase customers can avoid atm fees with over 16,000 nationwide. take a step forward and chase what matters.

and how did aaa rating credit rating and all that would say you know what you take this package of junk we just created. kind of insure it you basically write a default swap to basically credit for it you got a much better rating than we do so our investors will buy it from you what that they make money we make money everybody's happy former bank regulator william black told bill moyers this was all deliberate this stuff the exotic stuff that you're talking about was created out of things like liar's loans that were known to be extraordinarily bad and now it was getting triple a ratings now aaa rating is supposed to mean there is zero credit risk so you take something that not only has significant it it has crushing risk that's why it's toxic and you create this fiction that it has zero risk that itself of course is a fraudulent exercise. in. listening to this crisis. she made guarantees totaling more than their ability to pay an amount larger than the entire value of the company actually that's a bit of an understatement he i-g. along with others who sold a rivet is and insured their p

of 100,000 people, the biggest desert city in the south of libya, hundreds of kilometers away from aaasits right on the main highway that comes all the way down from aaa and it's down here to -- from tripoli and it's down here. gaddafi fighters are now in position to control the exit route and be in a position to control the south of the stoc country, too. there are a couple of cities for the to the north where they are still holding out. >> another one-time senior official, the former prime minister of libya has been arrested in tunisia officials say he was detained as he was right to leave the country on wednesday night. supporters of the opposition candidate in the zambian presidential elections have been celebrating after he was declared the winner. he defeated the incumbent who took office after the death of the pri's he of -- after the death of the previous president in 2008. readings of subatomic particles traveling faster than light have astounded scientists. the palestinian president will put forward a bit for palestine to be given full membership at the united nations later o

liar's loans that were known to be extraordinarily bad a on now it was getting triple a ratings now aaa rating is supposed to mean there is zero credit risk so you take something that not only has significant it has crushing risk that's why it's toxic and you create this fiction that it has zero risk that itself of course is a fraudulent exercise. taking. place to tell its crisis. we are in g. made guarantees totaling more than your ability to pay an amount larger than the entire value of the company actually that's a bit of an understatement ai g. along with others i'm sold a rig that is and insured their policyholders to tune of an estimated five hundred ninety six trillion dollars compare this to the gross national product of the entire world and the problem should become more obvious so you were just gambling of the aliens possibly trillions of dollars. but i would refer to it as gambling i would you know these these transactions were individually individually underwritten very carefully and maybe i can provide some of background see that might be helpful . they were carefully under

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david cameron and nicolas sarkozy surveyed their handiwork the most senior leaders to visit aaa since their countries began the nato intervention in libya they say their work is not yet. born with. the billions. he's right civilians are still being killed but now that gadhafi is virtually powerless the people increasingly doing the killing are national transitional council forces together with nato as they attack bani walid and other gadhafi strongholds on that cameron and sarkozy are silent to paraphrase george orwell in animal farm some civilians are more equal than others nato insists that targeted attacks but there are reports of m.t.c. reprisals against suppose it could be supporters clearly there are real problems on the ground there's a legacy of such a conflict you will have human rights abuses taking both sides the rebels the national transitional council have promised to hold their own forces to account and i think that is a process that we will see from now it doesn't seem to be happening yet. the african union alleges that transitional forces are hunting down and killing b

. >>> aaa says the price of gas is now starting to level off. after climbing steadily towards that $4 mark for weeks now current price is $3.99 per gallon and $3 99 in oakland and $3 99 in san jose. they will switch to a winter blend of gas and that typically brings down prices. >>> breaking news out of alameda, a tube is blocked after a hit-and-run accident and we will have the very latest in a live report. >>> michele bachmann is coming to the area, we'll see if the republican candidate will be making a stop.

the companies that aaa continues to contract with will need to handle an increased number of calls. aaa said it's making the move to lower costs and customers shouldn't notice a difference. >> lawyers for senator dianne feinstein accused a bank of helping to swindle funds from her campaign. the senator's campaign is suing first california bank and democratic treasurer since dirky. the suit claims the bank helped illegally transfer millions of dollars from the campaign accounts. dirky is charged with mail fraud for allegedly siphoning funs from another campaign. as a longtime democratic treasurer since, she controls hundreds of candidate accounts. >>> a well-known republican in california is not going to take on fine steep when he -- finestein when she runs for re- elect next year. michael reagan is the latest to say he's not interested in resulting for the senate seat. he didn't want to put his family through the rigors of campaigning. finestein held her senate seat since 1992 and so far has no challengers. week be moving closer to a government shutdown in washington, d.c. this afte

aaa reporting that the price of regular unleaded now stands at $3.65 a gallon.an a month ago and it was $3.70. it's flat compared to a year ago when gas was about $3.68. >>> it's supposed to be a way to raise money, but it's being so-called a stunning lack of judgment and sensitivity. less than nine months after the tucson shooting which left six dead and 13 wounded including congresswoman gabby giffords, the republican partynxjj ralphig off a handgun. in the newsletter headlines, it says help pema gop get out the vote, maybe help yourself to a new glock .45. >>> he sent his family e-mails saying he was on vacation in africa, but it turns out a california man was really dead. how police say his e-mails was used in a cover-up. that story, straight ahead. >>> plus, the new outcry this morning over the death of a woman at her california mansion. her family says, no way this was a suicide. [ male announce r ] walls can talk. but it's our job to make them say something interesting. so how about this weekend we learn some new tricks of the trade... then break out our

. >> the war has swept through aaa and back into the desert, taking the colonel with state superior region swept through tripoli's -- the war has swept through tripoli and back into the desert. it is the end of the holy month of ramadan. just after dawn, the square was full of people and memories of almost 42 years of dictatorship. >> they killed our children and raped our women. he is a murderer, and god will punish him. suburban growth still have barricades' put up by residents to keep the violence of colonel gaddafi's fall away from him. the war had already touched. a nato mistake killed a family here, but now the children can play outside. he can save the fighters gave think its and and and we is going to be fine for our families and -- gave their lives, and we think it is going to be fine for our families now. people are looking out for themselves, their families, and their neighbors. now the government has been recognized by some of the biggest government in the world, but around here, it is local people making decisions, and decision making starts with these men, locals who picked u

>> when my car breaks down, i call aaa. i have come up with the plan called eee. first we energize to move cases through the system and 120 days. then we expedite, using proposition 115. those kinds of testimony can be done through other witnesses and forms. and also evaluate as the last e. we have a 14-day window in which i would prioritize before they are filed in superior court to quash the the court rooms. -- clog up the court rooms. let's move vigorously to make sure that we are not wasting our resources. >> there are things called a motion to continue, defense attorneys are very adept at that. often is a delaying tactic, but more often than not, they needed additional time to prepare. people waved time because they need their attorney to be prepared. what i would do is use by in a knowledge, my institutional knowledge of the san francisco court system and my understanding in respect for people in the probation department to work together to move things along. to decriminalized by moving people out of the criminal justice system, the diversion process was cut

gas prices, this labor day weekend are more than $1 above the national average from a year ago, but aaahe spike in cost won't stop more than 27 million people from hitting the road over the holiday. 87% of all labor day travelers are going by car which is a slight boost from last year. overall travel is projected to drop nearly 2.5% this year, but 29% of labor day travelers said that prices would affect their plan. >>> i'm joined by robert sinclair, media relations manager for aaa, new york. robert, folks don't have the money. doesn't that account for it? >> well, this is troy green, michael, first of all, but going forward you would think that the higher fuel prices would disproportionately affect those in lower income brackets or on fixed incomes or unemployed or otherwise financially stressed and some of those people may decide to stay home this labor day versus last year. >> troy, more people are traveling by cars and overall travel is decreasing and how do you explain those numbers? >> well, it is about the economy right now and you ruck talking about shaky consumer confidence and

looking live here at the evening commute on interstate 80 where it's jammed up in both directions aaa says prices shot up 12 crepts a gallon in just one month. prices are up 16 or 17-cents a gallon. >>> san francisco mayoral candidate chu made -- plans include more diversion for car traffic. the improvements will also make everyone's commute faster. >>> it is a towerrering flight once again and it could put 70,000 people temporarily out of work. i'm consumer editor tom vacar, the fight over faa funding still ahead. >>> overjoyed. the news out of iran today that has the families of shane bauer and josh fattal feeling very optimistic tonight. >>> and i will show you which cities will be the coolest. >>> a san leandro police officer slammed his patrol car into a liquor store last night. three robbers went into three ring liquor. one robber pistol whipped the clerk and then ran off. another customer held the suspect until police arrived. the clerk suffered minor injuries. >>> the families of two uc berkeley grads being held in iran say they are overjoyed. today the court ordered shane bau

. >> in a aaa warehouse, an alarming discovery. -- in a tripoli warehouse, an alarming discovery. >> this is a dangerous weapon. it is gone. this is the surface to air missile, the exact model. >> thousands of sophisticated weapons have been stolen from this one warehouse. no one knows who has got them or where they will end up being used. you have to wonder, almost three weeks after tripoli fell, why hasn't anyone taken the trouble to secure them? some of the weapons have been taken by libya's rebels. there are reports that others have been offered for sale abroad. >> it is a serious problem. the key thing is to try to track them and bring them under control and to assess the state of the disappearances. >> what if things turn sour. authorities are racing to find the weapons before they fuel a new insurgency. >> i think they need help. i think they need to coordinate among the factions to try to stop the propagation of these weapons. >> a single guard offer little protection. inside, 800,000 land mines up for grabs. >> as the search for weapons continues, so does the fighting in col

richard galpin, bbc news, aaa. >> one more note from libya. a correspondent from bbc arabic has been injured. you can see here, he was wearing a flak jacket as he was preparing to go live on their. his injuries are not life- threatening. in northern ireland, a former ira commander is running for president. the party, sinn fein, is closely associated with the ira. in pakistan, international aid agencies say there has been a lethargic response to the massive flooding that has affected up to 6 million people. as many as 4000 villagers have been affected in an area still recovering from last year's monsoon floods. orla guerin has more. >> this was home to 90,000 people. by the roadside, an attempt at normality. but he has to wash in contaminated water. and all around, stories of loss. her crops and her cattle are bon. and she and her family have had no help from anyone. she shows were village used to be. it has vanished, like so much else. we to go boat -- we took a boat across the fields, joining the pakistan army. they have been racing against t

bbc news, aaa. >> you are watching "bbc world news america."still to come on tonight's program, seeking solace in country music. for many fans, the tune of economic woe is hitting too close to home. australia has lifted all restrictions on the roles that women can carry out. it means that female soldiers who are physically and psychologically qualified will be able to serve in special forces and front-line combat units. positions previously considered too dangerous for women. the country's defense minister has called this a significant and major cultural shift which could take up to five years to implement. from sydney, the bbc's duncan kennedy has more on what the changes will maine -- mean. >> australian women can go to the frontline and fight alongside their male colleagues. the battlefield in the longer a battle of the sexes. women already carry a 93% of all military jobs. now, the australian government said the remaining 7% of duties are being opened up for females. >> and now, all of the roles on the front line will be determined on the b