my name is mike williams, and i am a former vice chairman of barclays global investors. bgi was headquartered in san francisco and at the time was the world's largest global investment business. we serve over $2 trillion in assets. i have known leona bridges in a professional capacity since 1993 and seen her in a wide variety of roles and functions at the firm. she managed the global financial markets operation, which provide significant income to our clients. she had responsibility for people management. she ran a large budget, audits, regulatory compliance. she was very successful in developing the global the apartment, and making certain year after year that our firm had clean audit results. when i became head of the global index and markets group, directly responsible for 14 $3 trillion in customer assets, leona moved into a role serving clients in a much more directed capacity. she brought a wonderful school to our clients -- the ability to translate the arcane language of finance to everyone broadly, so that the experience -- that her experience and knowledge was m

barclays citigroup j.p. morgan goldman sachs you commit fraud on a daily basis it's a law against you not being prosecuted doesn't make it right it just means you have a weak prosecution in place you still committing fraud and you're causing inflation markets around the world people to die every day you're killing people from starvation you are murdering people right now and you have the temerity to say that you deserve a bonus well he's saying it like this to be fair when the chief executives of the major banks sacrificed their contractual entitlements to bonuses of over the past. couple of years or gave the cash to terry not one jot of praise or even understanding came their way well what about us sacrificing our human rights our constitutional rights are rights to. a monetary system that isn't destroyed by these very same bankers and to be free of the debt that they impose on us whether we want it or not even the people who were not in debt had these bankers debts thrust upon them via the this kleptocracy

now they're trying to foreclose and if committing additional fraud but basically let's be honest barclays h.s.b.c. refereeing barely northern rock royal bank of scotland they are rapists they have raped on mercifully these poor young people and now they want to be portraying themselves as the victims they're the rapists so why can't they pass in the u.k. anti financial rape laws rape are still illegal in the u.k. last i checked and these banks are raping people why can't they take them down to the old bailey and string them up for rape i agree with you that the the the rule of law is part of what's being on the minds when i say it's a crisis democracy it's seriously wonder about the rule of law but go back to you when you were doing the analogy with warfare i mean it's an old cliche but the first casualty of war is the truth and i think that's what's happened i think the financial cost of said this is a war and it's a war. they're fighting for their for their survival as they see it and they think therefore any amount of lying any amount of dissimulation is justified ok well it any war th

♪ meet cathy, who's lived most verywhere, from zanzibar to barclay square.ut patty's only seen the sight, a girl can see from brooklyn heights, what a crazy pair! ♪ cathy: oh my, patty. did you find all your files? patty: finally! who knew it would be this much work when richard and i decided to retire! cathy: well, what are you going to do first? patty: we're heading down to brooklyn heights and start in on that social security paperwork. cathy: why would you do that? patty: what do you mean? cathy: it's so much easier to log onto socialsecurity.gov and file online. patty: what if i need to know how much money i'll be getting? cathy: online. patty: what if our address changes? cathy: online. patty: what if i want medicare too? cathy: online. patty: so, how did you get so darn smart anyway? cathy: online! ♪ when cousins are two of a kind! ♪ >> welcome to a special edition of main stage. the first anniversary. time to look back at one year of great performances from the stage of san francisco's main library. we will key the authors, poets and playwrights, the

barclays may award 5.5 billion pounds in salaries and bonuses. numbers indicated there would be paying out to global employees of the investment bank. even if bonuses are cuts, investment bankers have still enjoyed fixed salaries of up to 40%. >> at a time when most british people are suffering a squeeze in income, not everyone thinks bankers should be squeezed. >> according to the banks, banks historically paid a lot of corporate tax. now they're facing a lot of losses. that will take awhile to come back. we could lose a massive amount of revenue through the treasury. we all suffer for that. >> when the bonuses are paid, some want a new tax on them. >> we are calling for a tax on bonuses to support the country's charitable sector. we think there is a direct link between the banking collapse and the social -- social consequences, and the threatened social catastrophe that faces charities and the people they support. >> years the prime minister visiting a smaller business, one of many vital to the uk's recovery. banks can make criticism of the bon

reuters is reporting that the company has hired barclays capital to evaluate strategic options, including a sale of the maryland based satellite services provider. next, pep boys shares got a nice pop: up 15% on a bloomberg report that its seeking a buyer. the news pushed the auto parts retailer to a fresh three-year high. next week will be another big week for earnings. two dow components scheduled to report on monday: american express and mcdonalds. ahead of that, american express shares gained 73 cents or almost 2%. analysts are looking for earnings of 95 cents a share on revenues of $7.3 billion. by contrast, mcdonald's shares lost just a bit of ground ahead of monday's earnings down 15 cents. quarterly results are due out before the opening bell. investors will be looking to see how the global fast food giant is coping with rising food costs. and that's tonight's market focus. >> susie: when you think of a fast food giant, the golden arches probably comes to mind. but in china these days. mcdonald's faces growing competition from the chain country-style cooking. as nick mackie report

but barclays analyst suki cooper thinks the retreat in gold is only short-term profit taking. >> we expect gold prices to average a fresh annual record high of $1,495 per ounce. we expect prices to continue to build on their gains until the third quarter of 2011. >> reporter: she believes the factors behind gold's rally the past few years are still firmly in place. >> if we are looking at the longer term drivers in gold, they still very much remain intact. there's the longer term concerns such as currency debasement, and inflation could spiral. those factors are still their driving investment demand. >> reporter: many gold analysts are watching to see if gold falls below the key technical level of $1,275 an ounce. if it does, expect a heavy wave of selling, particularly by options traders. longer term, analysts say gold's direction depends on interest rates and inflation. >> u.s. inflation right around the 1% to 2%, while yields are rising, would be a sign that the economy is gaining more traction, while inflation is not. and that would really put a damper on prospects for gold going forwa

barclays premier league because it is different from the championship. elsewhere liverpool travel to wolves in one millet and field recently new boss kenny dalglish says it's a game they plan to win but has remained tight lipped about possible transparent. and give you the names of model going to be christian this answer that i don't. know myself who going to the sums of money. i'm sure mark is be responsible to continue. to try and spin. the club's money. spend more and look at the rest of the games on saturday leaders manchester united entertain a massive face we can and spurs away newcastle in could guy for with the wind. it is a massive weekend in american football the n.f.l. season is approaching its climax with the super bowl set for kick off on the sixth of february and few people expected to see the new york jets come within one step of that game may face the pittsburgh steelers at heinz field in the a.f.c. title game on saturday before the playoffs started it was hard to imagine the jets would go anywhere beyond the wildcard round but rex ryan's

even at a time of tight credit, this high profile project was able to secure half its finance from barclays bank. >>dixon: they've believed in the location and the desire that we have to create this hotel and also that it'sin a very strong market. i think they saw the opportunity and they were able to see what we were going to create in terms of value for the long-term. >>reporter: which represents something of a shift in attitudes, as high end hotels have not traditionally been attractive to investors. >>sangster: the hotel industry itself has been something of a backwater in terms of property investment. in terms of commercial property, hotels represent, globally, something like 5 percent of the market. >>slattery: quite frankly, big capital has not been particularly strongly attracted to hotels. >>sangster: now it's a much more hard-nosed transaction. you know, what's the return going to be. and i think one of the things that they've begun to understand is, particularly with a highly valuable asset likea luxury hotel, you've got to be in it for the long term. >>reporter: there's been tal

years of global meltdown and bankers are once again coming to the fore last year and the head of barclays bank told me he gets people's anger at the bankers and the banking system but this year he says the time for the same story is over but it might be too late anyway because the chinese are coming really the big breakthrough this year has been the amount of people from the east really told me they'd seen before in this year. so what about the role of emerging economies that this u.s. form. china's economy soared ten percent last year through the global collapse compare that with barely one percent for many drugs emerged economies and this is really reflected in today's forum we've now got a through track system forced growing emerging states with balls to currency reserves like china russia are on the one hand and on the other you've got sluggish growers with north the levels of debt for example the european union and the united states the slogan for this year's shared norms for the new reality tries to find common ground between the two sides and the first four sessions today all try t

markets european stocks are higher in london the footsie is high point eight percent and in london barclay is rallying twenty point seven percent and lloyds banking group is agent two percent shares of h.s.b.c. holdings have jumped two point six percent off to citigroup upgraded the investment bank to hold from by citing strong new management and expectations for stronger growth from asian operations the dax is just marginally harve point two percent shares siemens giving two percent in germany after the electronics and engineering group's chief financial officer said the company will report higher fiscal first quarter earnings and sales. ok and here in russia the markets have reopened after a ten day break for new year some making only modest gains on the back of the strong but well priced the r.t.s. is up a third of the senate and m i six is trading point three five.

been a catastrophe fatal mistake we see that this some of the leading finance houses around europe barclays. goldman sachs and others are actresses suggesting that we should never bail out countries like greece ireland portugal and so on primarily because it won't help because these problems are due to the lack of economic reforms in these countries secondly because there is no reason why we should continually be paying banks with taxpayers' money not to mention china and japan who are now on the belief that we will continue to. german taxpayers monies into these sound european countries that they can benefit economically on that project this is simply the time to say that this vision has failed and therefore we ought to get realistic and simply turn our back to the euro or let's let's bring attention to portugal now let's bring up portugal into the conversation here because there are there are some members officials in the e.u. the eurozone that have been saying portugal needs to take a big bailout portuguese officials in lisbon saying we're not going to take a bailout because they've just

european stocks in the black in london the foot sea is up more than a percent it's led by financials barclay's is up five and a half percent and lloyds bank is up two percent in frankfurt the back says point eight percent higher shares and siemens are gaining two percent after the electronics engineering group its financial officer said the company would report first.

as a former managing director at barclays global investors, i come with over 25 years of investment experience. i will bring financial expertise to the mta. bgi, now blackrock, is the largest asset manager in the world. my responsibility was over about $800 billion in assets. during my tenure, i was responsible for budgets, investment strategy, client reporting, audits, client service, and financial capabilities of the largest firms in the world with global fiduciary responsibilities for all of those funds. some might say, more importantly, i'm a lifelong muni rider, a lifelong user of public transportation in san francisco. growing up in san francisco, i walked to middle school, wrote three buses to abraham lincoln high school, and rode three buses to sanford stake -- san francisco state university. i have continued to be a lifelong user of muni transportation. additionally, i take taxis and what many places. i have a vested interest in this city. i have a vested interest in knowing that we have timely, accessible, reliable, affordable, and save modes of transportation and services in the cit

banking is down one and a half percent and world bank of scotland is dropping two point seven percent barclay and h.s.b.c. are both slipping into red point two percent. foundered russia of the r.t.s. in the mind six a slightly lower losing the same number of points about point three percent is the see or read most of the blue chips are losing more leverage by one percent that's solid bucking the trend is for those gold up one point seven percent and corning mittal forty six percent on higher gold prices. russian energy chips are traded moderately negative with the oil majors lukoil and russell have both dropped me about half a percent that on the backdrop of the government raising that oil exports to ship by nine point two percent from february and the person hydropower monopoly was hydro is on just. via losing a third set of losses sparked by authorities raising the terror charge runs in siberia. now one see it too many russian air companies are being forced to remove seats to avoid have to texas russia council some doozies on foreign made airplanes depending on the number of seats they have

optimistic statement made at investor conference and in london puts his high point nine percent but barclay out about four hundred percent and arm holdings has just jumped six and a half percent off it's been dry. commanded by sea a big seas led by as one of cell technology to take over targets. and here in russia the markets have reopened after a ten day break for new year the indices are making only modest gains on the back of the strong well priced the r.t.s. is up a fifth of a sound my six is trading zero point three percent higher energy stocks are mostly on the rise but look boyle up more than two percent. of the oil company is among analysts top picks for investors looking to take advantage of the country's recovery of an it's going to sound from bernay since capital also believes russia is likely accession to the world trade organization will also boost . the wider energy industry its improving its information flow it's starting to. publish very good very strong very strong numbers and another big driver for you is that it's almost like russia is going to go into a w w two membershi

indeed and one of the footsie is up one point two percent dax is up point eight percent ok and one barclays big point seven percent better lloyds banking group is up two percent in frankfurt shares and siemens are gaining two percent up to electronics and engineering groups chief financial officer said the company would report higher first quarter earnings and sales. here in russia the markets have reopened a ten day break for new year indices are in the black this hour on the back of the strong oil price and ruble. more than a percent this hour some of the stocks russian metal producer m.k. is leading the gains as the company announced it paid two thousand and nine dividends on time coproducer metro is also among the top gainers in the myself to call prices rose to two year high as heavy floods disrupted mines and cut transport in australia stronger crude prices are giving some support to russia's oil majors lukoil up more than three percent on the r.t.s. two hundred percent on the my six that's all we have time for this hour join me again in fifteen minutes time. it is filled with joy. wi

keynote speech well let's get details on the government's reaction to today's incident parties from barclays there in central moscow tom so tell us what did the president have to say. well first of all the latest development is with the prime minister vladimir putin he spoke to the health minister how to briefing with her and said first of all the decree will be announced announcing compensation for the victims of this bomb blast and also recommended that she go and inspect the condition of the wounded in the hospitals personally secondly president medvedev he has indeed delayed his trip planned for wednesday for the start of the davos economic summit where he was due to be a keynote speaker he has delayed that and he he has had a meeting with the prosecutor general with the russian transport ministry and with the investigative committee the message from that meeting is first of all we have to get on and find the people who are planning this we have to be in his words hot on their heels here he's also said that those people now in hospital they are going to need medical help psychological he

markets european stocks are higher in london the footsies higher more than the percentage in london barclays rallying three point seven percent and lloyds banking group is adding two percent shares of h.s.b.c. holdings have jumped to point six percent off to citigroup upgraded the investment bank to hold from vite citing strong new management expectations for strong growth from asian operations the dax is high point five percent shares of c. minnesota giving two percent and drive any after the electronics and engineering chief financial officer said the company will report higher fiscal first quarter earnings than sales. and here in russia the markets have reopened after a ten day break for new year the indices are making only modest gains on the back of the strong got world priced r.t.s. is up to six hundred percent my sets this trading point seven percent higher. russian metal producer m.k. is losing the gains as the company announced it paid two thousand and nine dividends on time called producer meshal is also among the top gave us on the my six after coal prices rose to a two year high

even at a time of tight credit, this high profile project was able to secure half its finance from barclays bank. >>dixon: they've believed in the location and the desire that we have to create this hotel and also that it'sin a very strong market. i think they saw the opportunity and they were able to see what we were going to create in terms of value for the long-term. >>reporter: which represents something of a shift in attitudes, as high end hotels have not traditionally been attractive to investors. >>sangster: the hotel industry itself has been something of a backwater in terms of property investment. in terms of commercial property, hotels represent, globally, something like 5 percent of the market. >>slattery: quite frankly, big capital has not been particularly strongly attracted to hotels. >>sangster: now it's a much more hard-nosed transaction. you know, what's the return going to be. and i think one of the things that they've begun to understand is, particularly with a highly valuable asset likea luxury hotel, you've got to be in it for the long term. >>reporter: there's been tal

barclay's ceo bob diamond told lawmakers in london that banks should stop apologizing for past mistakeshe goes on to say while banks should be remorseful, we need to move forward to promote economic growth. diamond was in the capital to face a u.k. treasury committee to talk about the conduct of banks on executive bonuses. the bank chief is one of the highest paid bankers in the u.k. >>> financial times are so tight across the state that governor brown is taking unusual steps to cut spending. he issued his first executive order taking aim at state employee cell phones. he wants department heads to collect about 48,000 state-issued cell phones from state workers. there are an estimated 96,000 state-issued cell phones and governor brown says taking half of them back will save the state $20 million a year. according to the governor's office, each cell phone costs an avj average of $36 a month. he'd like to see the cut by june 1st. the governor will lead by example and return his state-issued cell phone. >>> california is tied with illinois for the worst state credit rating in america. scot

barclays is in the senate. he was actually vice-president under truman from 1948-1952. when the peninsula, he did not like being there. he ran back to the senate. he is the only successful republican we ever had. he became a back bencher in the senate. for what ever reason, he decided to go to washington where they mock convention was in 1956. there was some aligned that he audited bur. right after he said that, bam. [laughter] there is not a snowball's fell in chance i am doing a lot convention in washington. a chance in hell i'm doing mock convention in washington. >> what about the two republican responses tonight? do you expect similar divisions in the senate? >> there will be 534 responses to their -- tonight. every single member will be responding. i find it not particularly noteworthy. everyone will be responding. the hall will be jammed with people responding ag. it is legitimate. absolutely. >> how worried are you that he party pressure will be there for john boehner? >> not at all. what? look, i have had the experience in managing. every day is a maalox moment