allan? >> you could blow your way out of the debt if debt isn't of the massive size that we currently have. we don't have, in my opinion, a coherent plan for how we're going to deal with the long-term debt, so -- and it's enormous now. i mean, it dwarfs anything that we've seen in this country as far as dollar magnitudes, and it's pretty close to the peak amount of debt that we had at the end of world war ii. and that debt we got rid of in part by inflating our way out of it, and in part, of course, by a very strong growth rate during the '50s and much of the '60s. i don't think we have that prospect now, so we have a problem. and that problem is, in my opinion, exacerbated by the principal reserve's very short-term focus that i spoke of before. there's a chart which i have prepared that is from my book, and it shows one of the reasons why paying attention to the short term at the expense of the longer term. these are annual figures for the monetary base, the amount of credit that the federa

allan, this is their backyard photograph. >>> loving that yard. i'm moving.thank you. >> superbowl -- 35 is in the books. but next season may be in jeopardy over a labor dispute. eyewitness news 10:00 on the cw11 here on cbs 5, what that would mean for bay area businesses. >> aaron rogers makes the round on the late night circuit. and stephen segal's legacy playing out in the octo go. on that's up next in sports. ,,,,,, rocket scientists! you gave us the space age... but your savings accounts are stuck in the stone age! earn more commodore with interestplus savings at capitalone.com. that's new school banking, baby! [ laughs ] instead of earning zilch, your savings will be earning three times the national average. three times more? roger that! go online and sign up at capitalone.com. what's in your wallet?! the packers had only 2 players with super bowl experience . >>> it is tough when you realize you have a broken collar bone because you cheer and oh, that hurts. >> the packers had only two players with superbowl experience. woodson was one of them. now he

. >> reporter: allan, cairo is 7500 miles from san francisco but a couple of bay area companies are helping get the word out to egypt. google and twitter are giving a voice to the protestors. >> we need mubarek to leave the country. >> reporter: that is the voice of an egyptian protestor talking over the internet even though the internet has been shut down in egypt for days. google has set up a bypass for this. >> people in egypt can call on a land line, make a voice recording and this twitter account will automatically link out a tweet to that recording so you can listen to the messages. >> we are worried that it will be disappointing, but we are optimistic that change is coming. >> when you think about it it is not that advanced tech no log clay. just an audio file going into a a twitter account. just old technology used in a very fast way. >> it already started yesterday. we can already receive many voice messages from people. >> reporter: marion is a research associate with the muslim ethnicity. she says the number of protestors are reached a critical mass that allows people to speak ou

i'm allan sloan. >> tom: that's "nightly business report" for tuesday, february 22. i'm tom hudson. good night, everyone, and good night to you, too, susie. >> susie: good night, tom. i'm susie gharib. good night, everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> welcome to the 2011 local hero awards in celebration of black history month presented by union bank and kttv. >> good evening. i'm john bolen, president of kqed and on behalf of kqed and our partners at union bank i would like to welcome everyone to tonight's celebration for 2011 of black history month. this is our 16th year partnering with union bank on this event, and we've honored more than 100, often unsung heros in our community. tonight we're going to be honoring four individuals for outstanding contributions to the community and to get things started

i'm allan sloan. >> tom: that's "nightly business report" for tuesday, february 22. i'm tom hudson. good night, everyone, and good night to you, too, susie. >> susie: good night, tom. i'm susie gharib. good night, everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org

they walk around, allan. but the big question is do they want to keep these waterslides which is really just a seasonal money maker? tonight the east bay regional district will meet with the public to get some input. right now it is not privately owned. owned by the park district. so wait and see what happens. see if they officially kick off in the spring and kids are going down the waterslides or something else here. >> i don't know. a swimming hole would be seasonal, too, is what i was thinking but just my opinion. >> thanks. >> yes. >> the golden gate bridge is getting a makeover. the main cables will be renovated for the first time since the span opened in 1937. scaffolding for the project was delivered this morning and once it is set up crews will start cleaning the exterior of the two main cables. they will scrape their surfaces so a new coat of paint can be applied. >> the public will start to see 60-foot segments with a tented type of material. a tent will be created on the scaffolding and our workers

kim joins us to explain. >> dana and allan this is huge today. it really is.dmark study shows for certain women there is no advantage to getting this procedure. they won't live any longerment the trend is to move away from radical surgeries and towards an individualized approach. the goal is survival. but with the best quality of life. >> a new study may turn breast cancer treatment upside down. >> we knew the study was coming out. we've been waiting for it to be released. >> reporter: the findings show how some women diagnosed by breast cancer can now skip a routine painful procedure without increasing their chances the cancer will come back or spread. the procedure is aggressive lymph nodosum are you. that's when they are removed in order to increase the women's odds of survival. the study found many women with early breast cancer don't need this aggressive approach. instead of the surgery these women may only need to have one removed. and that's good news. the operation comes with troubling complications. >> one of the complications that women worry about a

one that seems to serve our ideals and other that seems to serve other kinds of interests and and allan is right that oftentimes u.s. policy runs in the direction of stability and stability is often perceived as supporting more repressive regimes because the more people have to mark receive the more they're likely to to disagree on you know what the government's aims can be it but i think that also has a point that what we're seeing at the moment is the obama administration not trying to suppress what's emerging attorneys are in egypt they're walking a very delicate line and even though it's very easy for the administration to go along with you know the old stability path wanting to keep friends in power even if they're not the most budding democrats in fact what is happening right now is both in tunisia and egypt the administration is trying to sort of step back a little bit and see what kind of leadership emerges and so if if the policy is more or less legal you know backing is the politics of the egyptians and tunisians . well they they have been but i agree with you i mean exactly a

allan and dana that's coming up next time around. >> all right. thanks, roberta. >> san francisco's most outspoken former supervisor may try to become the city's next mayor. >> i will politically haunt you for the biggest fumble in the history of san francisco politics. it's on like donkey kong. >> chris daly says he will run for mayor if no other leading progressive run for the race. during his eight years in office he was pretty well known for his outbursts and outrageous comments. daly says the progressives need a "big name challenger" in that rapes. he has the power to bring that to the election. >> a trendy style of bicycle but missing something that could save your life. that's in two minutes. at first, they were popular with bike messengers in san francisco and ,, a wireless, okay, honestly, can i just get a cord, please? dad, the cord's invisible. [ female announcer ] for a limited time, call to get high speed internet for just $14.95 a month for 12 months with select services and a 1-year price guarantee. it's our fastest internet for the

allan green says the cereal is like feeding your child a spoon full of sugar and can lead to childhood obesity. he says parents should start on brown rice cereal. the number one seller of white rice serial gesher says they're not aware of any study that's support the theory white rice contributes to childhood obesity. >> and on to consumer news. a warning about offers for phony car warranties. >> michael finney is here with that. >> this is an old warranty scam making a big come back and consumers reporting to 7 on your side and better business bureau telemarketers calling pretending to be from the manufacturer. sound familiar? this was a big problem two years ago. here is what a couple calls sounded like this. >> it's not too late. you're still eligible to reactivate courage. >> these are time sensitive. must be extended before your vehicle reaches a certain mileage. >> the pitch is similar, don't fall for it. hang up the phone. have you bought an item on groupon then had buyer's remorse? there is a web site you need to know about. it's a marketplace for people to buy and sell certifi

. >> and i'm allan martin. >>> well, it is no is he decreed a lot of people are seriously owe he is -- opposed to pg&e's power smart metres. but now it involves the district attorney. >> you are under arrest. hands behind your back. >> reporter: these people have been arrested for

came in better than expected we're seeing the dow jones allan nasdaq up one percent european shares are also rising on that positive u.s. opening also french drugmakers out of here the answer is strongly after it agreed to buy its rival genzyme corporation for twenty billion dollars in cash in russia the indices are just the markets are just about to close and positive there's our investors are continue to trade cautiously however the r.t.s. and the my zero zero point four percent the shares are mixed blue chips that is burbank is gaining the point eight percent the stock is finding it hard to recover after climbing around eight percent over the past couple weeks severstal is also are following reports that make cuts to supplies to car maker after that. french lender sort of vision around said its fourth quarter profit quadrupled due to a turnaround of this russian unit the russian consumer banking business had a thirty million euro profit compared with the loss of fifty eight million years last year russia which is the second largest market by employees may become the biggest contribut

. >> good evening i'm allan martin. >> and i'm dana king. >> it will make gang members

air balloon that crossed the atlantic from england to america was described by none other than edgar allan poe in the new york sun in 1844. three english pilots including the famous charles green, and the overflew greenland and they landed on the shore somewhere i think in massachusetts. this was the biggest scoop the new york sun had ever had. and then epigram poll realized and revealed was a complete hoax. they never crossed the atlantic. it was the first of his stories of mystery and imagination. that was an 1844. but the first person who fueled the english channel, it was an english balloon, the pilot was an american, dr. john jeffries. so that's a little bit of history which appears in my book. and the first woman aeronaut was an actress mrs. sage and she has a great term in my book. and at the end of this week coming, i'm going -- look-see it may be the last you'll ever see of me -- to the international balloon fiesta and mexico to fly with the winner of the american hot air challenge cup. bye-bye. [laughter] second question, can you remember your long subtitle. it's amazing. i just

. >>> i'm allan martin. >> and i'm dana king.t happened in richmond, a dog, a sheep and the owners of the animals are all on the side of a cliff waiting to be rescued. this is happening on the cliff side near the richmond harbor. late this afternoon, fire officials got a report that the dog chased the sheep and both got stuck on the cliff. now, the person believed to be the owner

it's one of our top stories allan russia's commemoratives first president. who would have turned eighty on t. stay there. not say talks to the head of protocol but. he reveals details about the will. mr xi thank you very much for joining us today so the new russia you know just a first president of russia what were the main new protocol procedures that came with him. i think would be more relevant to describe how i got the job with the new russian yeltsin his new president it was no protocol we had some innovations with mikhail gorbachev when i was head of his protocol and i was the first assume the position soon after he was elected president of the soviet union we had not succeeded in many respects so i was invited to work with buddies nikolayevich when i had been hired and we began to build up this protocol it was indeed rather interesting each of us thought he was in charge apparently we would not come up with anything new because protocol everywhere is always unbending most importantly we do everybody's attention to us with this protocol. with this prec

good evening i'm allan martin. >> and i'm dana king.five show dogs trapped inside. tonight good samaritans are being credited for jumping into action and pulling those dogs from the flames. mark say r with the dramatic video of the rescue. >> reporter: show organizers have confirmed that three of the dogs have been released. but as for thes conditions of the two most seriously injured dogs, at this point we do not even know this if they have survived this incident because their owners have requested privacy. this cell phone video shows the van going up in flames just moments before these pictures were taken. the five dogs which were inside were pulled from the burning vehicle by dog show participants. >> so i ran over, opened the doors and the whole front seat and the dash and everything was on fire. >> reporter: josh was one of the first on the scene and did all he could to help rescue the dogs. >> i could hear the dogs screaming. we were just trying to get them out as fast as we could before the dogs really got

spectacular performance from their side gary hooper accelerated past david ware and fired through keeper allanmcgregor legs open for the hoops seventeen minutes and have the celtic have the rap. again the just eleven minutes later showing great place to get on the ends of the videos of these cross then in the second half hooper turned provider is past and chris collins was sent to swerving at thirty past mcgregor and into the net so i know the three celtic eight points clear but rangers have two games in hand. basketball now sensational ricky blake griffin has won perhaps one of the most eye catching competitions in the world of sports the n.b.a. slam dunk contest the star studded grab at the staples center in los angeles expected something special from the clippers star and griffin lived up to their expectations over a car and threw down a two hundred dollars to the compliments of a gospel choir the route he also got a pass out of the sunroof from teammate baron davis griffin you see sixty eight percent of the fans post the thurmond the final results so when the slam dunk contest in iconic st

tackler performance from their side gary hooper except right at past david where and for a three keeper allan mcgregor is the breaks to open for the hoops after seventeen minutes and the englishman had the celtic fans in the raptures again. seven minutes later showing great place to get and the video is like there is cross then in the second half hooper started provider his past bad place called once was sent to swerving at thirty past mcgregor and into that credit of the three sets of eight points clear but rangers have some games in hand. basketball and sensational ricky blake griffin has won perhaps one of the most eye catching competitions in the world of sports the n.b.a. slam dunk contest the star studded crowd of the staples center in los angeles expected something special from the clipper star and griffin lives up to their expectations over a car and threw down a two handed dunk to the compliments of a gospel choir there ruthie also caught a pass out of the sunroof from a teammate baron davis britton received sixty eight percent of the fans both to determine the final result to win th

. >> good evening i'm allan martin. >> and i'm dana king.e of the state speech jerry brown laid out the problems in california. a governor wants to put a key part of his budget plan to a vote. hey, mark. >> reporter: hey, dana as promised by the governor himself the speech was short

spectacular performance from their side gary hooper accelerated past david ware and fired through keeper allan mcgregor his legs open for the hoops after seventeen minutes and the englishman had the celtic fans in a rapture again eleven minutes later is showing great pace to get on the end of the million is a good process and then in the second half hooper turned provider his past and kris commons was sent to swerving effort past the bragger and into the net self three celtic eight points clear but rangers have two games in hand. basketball and sensational ruki blake griffin has won perhaps one of the most eye catching competitions in the world of sports the n.b.a. slam dunk contest the star studded ground at the staples center in los angeles expected something special from the clipper star and griffin who lives up to their expectations he leapt over a car and foods out a two handed song so that compliments off its gospel choir there was also quite a pass out of the sunroof from teammate baron davis griffin received sixty eight percent of the fans vote that determined the final result to win t

. >> and i'm allan martin. a question for you, what will your annual pension look like?res or are you saying what pension? at a time when americans

bureaucratic formality and now i'm saying that it's actually nothing better than legalized kidnapping allan's it's been going on national finance and i haven't figured out what the charges are yet an interest if i can say about what's going to happen in suite and begin to use a very very rarely used mechanism here to try this case in secret so we won't even be able to hear what's being said what the allegations are what the charges are and all the full evidence because that's it's going to be done in a secret hearing which is absolutely astounding. you with auntie live from moscow of course and i were just about thirteen minutes past the russian army to make over the next ten years the government has announced that it will allocate about six hundred fifty billion dollars to upgrade its equipment it's bush's plan which fits in with russian president dmitri medvedev this long modernization girls. huge amounts of money these are the large scale spending plans that have been done by the defense ministry and so we needed a main focus of the spending that's going to take this up to twenty twenty fi

after the in eighteen the country's politics for almost eighty years the party has been blamed for allan's financial crisis which led to a bailout of the country's banks from mr brown colors but standing in the election which comes a year early in his power to quit coming about. let's return to our breaking news the russian authorities are on the hunt for the culprits behind an attack on an f.s.b. security services building in the republic of congo in a car or president of the republicans dismissed reports that dozens were injured and son killed he insists that only one police officer was wounded in the attack and i just remind you of what happened there in f.s.b. security services building was shelled with a grenade launcher in the city of knowledge chick and it will of course be bringing all the latest on this breaking news story as soon as we get it. well i'll be back in a few minutes with the latest headlines but first as promised business news is next with creeping. back into business global equity markets seem to be breathing a sigh of relief as oil prices moderate prices for crude t

that was allan crab re-tying it. crab developing as the go-to guy. he went for 27.econd ot tied at 87. arizona leading 90-88. in that ot crab misses but the bears keep it alive. camp gets the hoop with 33. the bears led by three in the final seconds. but here was that guy again jones. time is ticking down. he hits the three. they go to overtime number three. that's when the bears came up just short held by some luck by the wild cats. that pass actually hit file fog in the back of the leg. jones goes for 27. he comes up big with the wildcats need him most 107-105 in three over had times. it is the longest home game for cal in 35 years. it he happened the bear's win streak at four games. 13-10 overall. 6-5 in the pack ten. >> stanford is trying to slow down a losing then this afternoon at maples. last place arizona state just what the doctor ordered. cardinal had lost five of its last six. late in the first half green puts the cardinals in front hitting one of his five three pointers. green 5-5 behind the arc on the way to a 23 point game. stanford led by four at the

imagine allan having to get to this extent politician and his wife and telling them, your daughter is going to die. allen told them that he could prolong elizabeth's life, but she would never eat normally again. every single gram of food would be weighed and regulated. her diet would consist of aches, cream, the stubbles boil three times to rid them of cover hundreds. at times she can send as little as 400 calories a day. allen's motta was test darth is to survive. this was the horrible decision that families were forced to make, choosing between the lesser of two evils for their children. many medical experts at the time believed that it was more humane to allow their patients to eat themselves to death than to subject them to the torture to the starvation diet. elizabeth parents chose to follow aldo's advice and use this most radical of treatments. keeping their daughter alive long enough to benefit from the breakthrough on the horizon. but at the time the families could not estivation lied ahead with a mediocre graduate of the university of toronto medical school. his name was fred

allan misses but victor doesn't. virginia tech within three. in front by two now. malcom is about to put the nail in the coffin. he gets the three. they storm the court as they knock off number one 64-60. at 19-8 that may have earned them a spot in the tournament. >>> the much discussed 7th ranked byu and san diego state. aztec had no answer for that. it was dished to an open man. they make the regular season sweep over san diego state. the only two losses so far in the aztec season 80-67 the final. san jose state got the win over louisiana tech. oliver had 23 for the spartans. >>> women's pack ten play, stanford rolled over oregon and won its 11th straight pack ten championship. the cardinal 26-2 overall. 17-0 in the conference. winningest record the cal women were winners by nine over oregon state. >> we have heard a lot about the slimmed down pablo sandoval this spring. but tonight we get the first look at him in uniform. sand pablo sandoval in decidedly better shape. he got the rbi single in the third. he had a pair of hits today including a homerun in the four

." >> up next allan meltzer presents "a history of the federal reserve: volume 2, 1951-1986". mr. meltzer is joined by paul volcker, federal researcher during the carter and reagan administradministrations. they discuss past and present economic issues. mr. volcker talks about his experience in office. this event was hosted by the am

if it is passed allan, san francisco would be the first big city to make such a plan. >> maybe a lot of families don't know that you can get four. that might go a long way to solving the problem. >> reporter: well, yes and no. then nobody would be able to park. if everybody got their four permits nobody could park. it would be too much. >> yes. >> reporter: you have to have a car and it has to be registered to your address. but man that's a lot of cars in san francisco if they all had them. >> mike sugarman, thanks. >>> look out for detours through union square and san francisco starting today. construction is un -- underway on geary street for the central subway. it will take a year and a half to move the utilities and another six years to complete the tunneling. business owners are worried about the impact of years of construction, enclosures and detours. >> i remember when they did bart that was the first thing that happened, what was it just west of 5th to about 8th is just still dead. i mean, it never really recovered because of the years it took. so i think they are planning it

air force, hats off to the coast guard and i'm looking forward to hearing admiral adel to -- admiral allan echo what has been said. just a quick point mr. chairman in regard to the jones act, which is i think it's right to becoming up in the witnesses' testimony and i sure there will be some questions about that today i personally believe it's the jones act is a jury critical component of america's maritime heritage, and during this tragic incident in the gulf, the jones act suffered from an unfortunate misguided on true media campaign against the jones act and they re singing the jones act ndered cleanup efforts and created a lot of the confusion in the gulf and actually looking through the admiral's testimony in regards tthe applications of the jones act there was a misperception that the jones act and he did the use for the deepwater horizon response operations and in reality the jones act had no impact on the operation and just one other quick quote from the of reports that we all have in front of us. we did not reject because of the jones act restrictions. these restrictions didn't ev

on we have allan boyle. go ahead. >> caller: hi. candidate there were some candidates that were held back for confirmation by the team 400. i wonder if there are with a no. number of candidates being held back for similar reasons. t >> no, there are not. all of the data in addition to the 400 targets of the team hadave a extended exclusive use so they season could have a full follow-up observation were released actually just a few hours before all of the data of the 156000 for the second three months of th the mission so all of the datare. is out there and there are no targets that have been held back at this point. was >> we had an opportunity to take a look at those and candidates that were held back over the summer by the reconnaissance spectra of the thousands.e had we don't some of those that we those t have released and reserved false positives that work by an areaupst or whatever. that is all that we have a released malae and much more heavily studded we have a better re good understanding these are good obser candidates and

air force, hats off to the coast guard and i'm looking forward to hearing admiral adel to -- admiral allan echo what has been said. just a quick point mr. chairman in regard to the jones act, which is i think it's right to becoming up in the witnesses' testimony and i sure there will be some questions about that today i personally believe it's the jones act is a jury critical component of america's maritime heritage, and during this tragic incident in the gulf, the jones act suffered from an unfortunate misguided on true media campaign against the jones act and they were singing the jones act hindered cleanup efforts and created a lot of the confusion in the gulf and actually looking through the admiral's testimony in regards to the applications of the jones act there was a misperception that the jones act and he did the use for the deepwater horizon response operations and in reality the jones act had no impact on the operation and just one other quick quote from the of reports that we all have in front of us. we did not reject because of the jones act restrictions. these restrictions did

air force, hats off to the coast guard and i'm looking forward to hearing admiral adel to -- admiral allan to echo what has been said. just a quick point mr. chairman in regard to the jones act, which is i think it's right to becoming up in the witnesses' testimony and i sure there will be some questions about that today i personally believe it's the jones act is a jury critical component of america's maritime heritage, and during this tragic incident in the gulf, the jones act suffered from an unfortunate misguided on true media campaign against the jones act and they were singing the jones act hindered cleanup efforts and created a lot of the confusion in the gulf and actually looking through the admiral's testimony in regards to the applications of the jones act there was a misperception that the jones act and he did the use for the deepwater horizon response operations and in reality the jones act had no impact on the operation and just one other quick quote from the of reports that we all have in front of us. we did not reject because of the jones act restrictions. these restrictions

we have allan boyle. go ahead. >> caller: hi. candidate there were some candidates that were held back for confirmation by the team 400. i wonder if there are with a number of candidates being held back for similar reasons. t >> no, there are not. all of the data in addition to the 400 targets of the team hada extended exclusive use so they n could have a full follow-up observation were released actually just a few hours before all of the data of the 156,000 for the second three months of the mission so all of the datar. is out there and there are no targets that have been held back at this point. was >> we had an opportunity to take a look at those and candidates that were held back over the summer by the reconnaissance spectra of the thousands.e had t don't some of those that we have released and reserved false positives that work by an areaut or whatever. that is all that we have a released malae and much more heavily studded we have a betted understanding these are good, or candidates and we are gratified planets and we haven

as you know, allan became chairman of the board of governors of the federal reserve until 2006 and had an extraordinary amount stable and relatively inflation-free growth during that time. he is now and greenspan and assess its and i can attest that he is still extremely active in the economics and research. he gave a paper at the brookings bell recently. i have had the privilege of talking to him regularly and hear what he is working on. he is very much still part of the world of economics and macroeconomics. welcome. [applause] welcome. >> thank you very much, martin. you didn't say of's been around here 40 years being one of the very early numbers of the brookings panel on economic activity. >> i apologize for not saying that. >> all i can tell you is if you go into one session today versus what the sessions were 40 years ago, you realized how little we learned. >> you haven't been coming often enough. that's the problem. >> while the rest of the seminar is devoted to the structural mortgage finance, i thought it might be useful to spend a few minutes on what mort gain finance is ul