talks to nick leeson of the rogue trader who caused the collapse of barings bank to get some insight on how the banking industry operates. the sun rises over what seems like and lowest forest but here in new directions crime hundred kilometers north of light of all stalk as in much of the world it's disappearing at a county structure a great. markers both illegal and those finding ways to outsmart the system for filing down the forests of the region for them profit goes well beyond the future of our planet and the result could be an ecological crisis we are on the hunt for illegal loggers and it's not going to be easy the forests or nets in our chances are slim now for now we can stay in our dreams but as soon as we find solid tracks we'll have to drop our wheels and get out silently in order not to scare the loggers off alexander someone in ca has been a ranger for over twenty five years he can spend weeks at a time tracking a single group of loggers easier to work when snow falls in autumn it's impossible to find human tracks and even transport tracks are hard to see after hours of

now bob let's hear a lot see we talked to nick leeson the rogue trader who calls the collapse of barings bank to get some insight on how the banking industry operates. you know sometimes you see a story and it seems so for lengthly you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought you knew you don't know i'm tom harpur welcome to the big picture. soon which brightened if you knew about someone from feinstein. to start on t.v. dot com. good news if she could lumber authority to mccurry was able to build a new most sophisticated robot which all unfortunately doesn't give a darn about anything turns mission to teach the creation why it should care about humans and world this is why you should care only on the dog call. home. play. play. play. play. play play play play play. play. live. more news today violence is once again flared up if these are the images the world has been seeing from the streets of canada. china operations are relieved a place. the current financial system has received the ball called

rates are at a half percent a quarter percent i'm sorry overnight really european just barely european central bank still had seventy five points point seven five percent they should be dropping their overnight rate to a point two five percent and why because it helps it helps by keeping interest rates this low you are allowing cheaper money everywhere and you know the problem with spain and now portugal and of course italy and greece there's six percent plus treasury rates are killing them they can't pay that debt now but it's not a sinner but a cheer for a change an optimistic note hala great in sort of pop freakonomics dot com thanks pete on the program they are quite welcome kevin pleasure right ok let's talk business not no much cheering for in the u.k. you paying for gas is a bit of a scandal or a citizen to rumble over them scandals taken it too far but there's a there's a complaint about the way the gas companies are charging when you go for it well basically regulators right now have discovered that there was at least one case when trading in gas prices was very artificial and that was on

this art bare will not break your bank account. -- this art fair will not break you. >> i like the that rabid in the black sheep. >> i wonder if the dogs start trying to run after them since dogs are allowed. >> lots to choose from so check it out in hamburg. stay with us here for more news in 30 minutes. >> we will see you soon.

bank in madrid. a group of activists push their way through the door, and then the protest begins. they've been laid bare, they say, betrayed by the banks and their questionable financial tactics. most of the protesters are from latin america. for them, spain was the promised land. now they're struggling to stay afloat, mired in an ocean of debt and shady loans. edu solano is from ecuador. he says the banks pulled a fast one, and now immigrants have been left holding the bag. hipatia condor is also from ecuador. she's outraged, too. the banks are nothing but thugs and thieves, she says. back at home, hipatia condor and her family are knee deep in boxes. after fourteen years in spain, they're packing up and leaving. over the past decade, they've paid off 100-thousand euros on the mortgage for their apartment here in madrid. the bank now says all that money went towards interest. hipatia and her husband william lost their jobs a year ago. now the bank is demanding they pay off a second loan of over 30,000 euros -- a loan they didn't even know existed. >> at the notary office back then, they told us to hurr

. >>> thanksgiving just -- 11 days away the cupboards are almost bare at a lot of food banks. what you can do to help. >> soda pop with a difference. we have sodas that don't add calories how about the cola that is promising to slim you down? before cold & flu season, help prevent with lysol disinfectant spray. and use the lysol no touch hand soap for 10 times more protection with each wash. this season, a good offense is the best defense. lysol. mission for health. prove it. enough is enough. d-con baits are specially formulated to kill in one feeding. guaranteed. d-con. get out. >>> welcome back. here's a look at doppler across the state. showers north moving from southwest to northeast which means they are going to stay north of us again like yesterday. heading up to chico, reading, shasta snow mixing in eureka rain, sunshine for the rest of us, 61 yosemite, upper 60s sacramento, fresno. big sur sun, 80s los angeles and palm springs, 77 in san diego. >>> later today congressman paul ryan will give his first national tv interview to abc news since losing the presidential ele

bare necessities. >> reporter: friend, second harvest food bank opened this second location just because of the need. according to this new report today, the number of needy has gone up. >> inside this two bedroom home. >> once we turn it up, the bill will go up about $100. >> reporter: the mother wore layers because she doesn't want to turn on the heat. she's never been as financial strapped as she is today. >> we pay the rent weekly, so we don't get too far behind. >> reporter: 49 million people are living below the poverty line in the u.s., or 16% of the population. california has the highest rate in the country, partly because of the high cost of living and immigrant population. >> these people are your neighbors. >> reporter: the figures don't surprise those who work at this food bank. from after the recession hits, the number of people we served increased nearly 50%. >> reporter: the news also doesn't surprise the head of this south bay homeless shelter. >> we opened our waiting list from our center in st. martin. we had 100 police families overnight, sleeping overnight, just to be on the list.

bare necessities. >> reporter: friend, second harvest food bank opened this second location just because of the need. and according to this new report today, the number of needy has gone up. >> inside this two bedroom home. >> once we turn it up, the bill will go up about $100. >> reporter: the mother wore layers because she doesn't want to turn on the heat. she's never been as financial strapped as she is today. >> we pay the rent weekly, so we don't get too far behind. >> reporter: 49 million people are living below the poverty line in the u.s., or 16% of the population. california has the highest rate in the country, partly because of the high cost of living and immigrant population. >> these people are your neighbors. >> reporter: the figures don't surprise those who work at this food bank. from after the recession hits, the number of people we served increased nearly 50%. >> reporter: the news also doesn't surprise the head of this south bay homeless shelter. >> we opened our waiting list from our center in st. martin. we had 100 police families overnight, sleeping overnight, just to be on the l

and banking after the storm, hundreds of banks shut down and more atms out of service, countless folks facing a cash shortage struggling to buy the bareecessities that cash only vendors. joining me now with more. good to have you back on the show. tell us what banks are doing right now because i'm getting e-mails from american express and everybody else saying they want to help me out because i live in the storm region. what are they offering customers? >> thank you so much for having me. they're offering a few tngs. they are waiving a lot of late fees, a lot of withdrawal fees if you end up using an atm that is not your banks atm, they will wave those fees as well. they're also doing a lot of things behind the scenes. our best advice is to ask what they can do to help you. don't jeopardize your security and just know that everybody is aware of the situation and everything would work out, nobody should stress out if you are late on a payment. gerri: here are some of the banks waving atm fees. jpmorgan, wells fargo, citigroup on a case-by-case basis. do you think there are alternative places people can get cash? par thpart of the probl

arguably he's barely between hamas and the palestinians on the west bank led by mr. abbas. the players and devices we've used in the past are difficult to use. >> what sort of political pressure, though, is morsi feeling? they have an agreement with israel. it is a relatively new government, a new construct. he's being tested essentially. hit basically from both sides. what are those dynamics like? those domestic politics for the egyptians? >> what is new now is the political leadership of egypt has a direct and personal involvement with one party, not the palestinian authority, not israel, but the hamas movement in gaza. so there is a natural affinity as stated by the prime minister and they are essentially on hamas' side ideologically. on the other hand, the president of egypt has made clear he doesn't want to throw over the israel/egypt peace agreement. how far can he go in supporting hamas without getting rid of that agreement or undermining it in a fundamental way? i expect him to go quite far. >> do you think the election affected the timing of this. did hamas step up

. >>> food banks are struggling to meet the need of thanksgiving many facing severe turkey shortage pleading for help. league of volunteers says their pantry is practically bareth year the organization plans to put on one of the largest thanksgiving day dinners in the east became other organizations reporting shortages because the food banks that supply them also need more turkeys like second harvest of santa clara county, which serves 750 organizations. turkeys can be dropped off at the bank's center in san jose, san carlos, second harvest has extended hours to make donating easier we have the times on abc7news.com under see it on tv. while you are there, you are going to find information on our share your holiday food drive coming up december 12th, the abc7 news team will be broadcasting live taking donations we have locations on our website. >> the food donations will be great. soon we'll be talking about the coat donations as the weather starts to turn colder. >> we have a up of cold so it is on people's mind now, going to get a little warmer, of course colder again. this morning looking down from mount tamalpais tiburon, belvedere, sausalito, angel islan

of banks remain unpunished in los angeles remember linda archie all right so this landmark settlement a relief for struggling homeowners family it seems for the vast majority of them that this barely scratches the surface i want to bring in ramona window into this discussion now to talk more about this so ramon according to this report from the office of mortgage settlement overside banks have shelled out more than twenty billion dollars in relief but nearly half of that has gone as you said to debt forgiveness and it has not kept people in their homes that you reference this was this the plan all along or did something in the process sort of go off course here . the purpose of the settlement was to help homeowners avoid foreclosure and to help keep banks accountable so that they wouldn't repeat the practices that led to this mortgage crisis but what we're seeing here in the trends is that that as you mentioned sort of the credit that's being taken from the banks for doling out benefits is really just short sales which ends up putting people out on the street now the problem with this and it's actually beneficial to the homeowner somewhat because it's not as bad as a foreclosure i

several hundred pounds of silver at the bare minimum or paint the paper apocalypse and you've got the four horsemen the paper apocalypse right here the biggest four banks in the u.k. that are aiding and abetting this entire. nomi of fraud which has yet to hear if you thought the two thousand and eight crisis was bad that was just a warm up act here i showed you that the chinese are piling into silver over in the us thirty three times you poor dumb bastards this is from the reformed broker max and he says since december two thousand and seven investors have poured more than one point one trillion dollars into bond mutual funds in exchange traded funds more than thirty three times the amount allocated to equity funds an e.t.f. so many institutions have also reduced long equity allocations look to people in america the dumb country they say that gold is in a bubble. ok let's talk about the u.s. government ten year bond never in two hundred thirty eight years as the price been higher the u.s. government bond is in a two hundred thirty year high that is a ball ball and all of these idiots out there they're buying stockpiling all kinds of provisions against

barely raised his head in court yesterday. he is charged with killing rory parkpettiford of campbell and trying to kill a police officer. wil banks' younger brother is stunned and feels sympathy for the victim's family. >> we all need to unite and donate to the victim's family. i don't know why this stuff happens but that's the only way to make the situation better right now. >> wilbanks could face the death penalty. police are still looking for a second suspect who took part in the armed robbery that say preceded the deadly shooting. there's a $25,000 reward for his capture and conviction. >>> police are doing what they can to help the family of rory parkpettiford. officers have created a site called cops for rory. we checked the site and just $500 has been donated. to help out -- >> police still looking for a hit and run driver. two cars hit a pedestrian who was apparently jaywalking near the intersection of alum rock and jackson at about 6:00 in the morning. the first driver in a dark-colored sedan hit the man and sped off. a second driver also hit the man but did stop and is cooperating with police. >>> meantime, rohnert park

two of our officers barely walked away to their families with their lives. >> it happened about 7:30 when will banks and his accomplice robbed a little caesar's. then they robbed a gas station 15 minutes later. and then an hour after that a jack in the box and a spa. the pair didn't hurt anyone until they reach reached the 7-eleven where they shot and killed campbell residents in an attempted carjacking. abc7 news spoke to a witness who saw the whole thing, but didn't want to be identified. >> the guy stand in front of the car and shooting, shooting just like that one and two and three shots. >> officers later spotted the suspect driving on 280. when they got off near kelly road, police say they got out of the car and started shooting at the officers. during the exchange, one officer was grazed at the hip by a bullet before police ultimately caught and arrested will banks. >> the individuals wanted to kill the police officers. i am absolutely proud of the work they did and the bravery they showed in pursuing these people. >> again there is a $10,000 reward for information leading to this second susp

two of our officers barely walked away to their families with their lives. >> it happened about 7:30 when will banks and his accomplice robbed a little caesar's. then they robbed a gas station 15 minutes later. and then an hour after that a jack in the box and a spa. the pair didn't hurt anyone until they reach reached the 7-eleven where they shot and killed campbell residents in an attempted carjacking. abc7 news spoke to a witness who saw the whole thing, but didn't want to be identified. >> the guy stand in front of the car and shooting, shooting just like that one and two and three shots. >> officers later spotted the suspect driving on 280. when they got off near kelly road, police say they got out of the car and started shooting at the officers. during the exchange, one officer was grazed at the hip by a bullet before police ultimately caught and arrested will banks. >> the individuals wanted to kill the police officers. i am absolutely proud of the work they did and the bravery they showed in pursuing these people. >> again there is a $10,000 reward for information leading to this second susp

city and bank of america are speculative deals below but nobody wants to go there. the key thing is they're going to barely be doing double-digit return on equity. when you factor that into the evaluation estimate, that is about right. melissa: anything change your mind? >> if we got a huge amount of investment banking revenue for morgan stanley, city, if housing suddenly came back, one reason the sell-off occurred is the street understands barack obama and the current cats in washington won't do anything about residential housing and what they're doing a negative. dodd-frank ripped the guts out of the nonbank mortgage origination sector. all we have left other banks. melissa: don't realize they are discouraging lending. >> in six months the congress is going to hear such screens of unhappiness from realtors and everybody else in the housing industry in that they have to revisit these issues and forget about partisan at that point. even liz warren may have to reconsider -- [talking over each other] >> we will have some bar growth and you can expect multiples for large cap financials. melissa: thanks so muc

banks remain unpunished in los angeles remember linda archie so this landmark settlement and relief to struggling homeowners from the settlements sadly it's not working for the major majority of people and barely scratches the surface to talk more in-depth about this we're joined earlier by r.t. correspondent ramon glinda just a little earlier today. the purpose of the settlement was to help homeowners avoid foreclosure and to help keep banks accountable so that they wouldn't repeat the practices that led to this mortgage crisis but what we're seeing here in the trans is that as you mentioned a majority of the credit that's being taken from the banks for doling out benefits is really just short sales which ends up putting people out on the street now the problem with this and it's actually beneficial to the homeowner somewhat because it's not as bad as a foreclosure you don't take that huge hit on your credit but at the end of day you lose your house and a lot of critics of the settlement and a lot of critics of this report say that it really isn't any sort of punishment to the banks because when it comes to short sales the banks had already picked up their short sales even before the settleme

we'll track the storm next and later on one of the top analysts weighs in on banks in a post-election world. mike mayor, he barelytroduction. utilities and financials leading the way and a couple of big upgrades on goldman and bac. materials and health care are the worst performers. we'll be right back. >> just a little more than a week after sandy hit the east coast the nor'easter taking a toll on regions trying to recover. tens of thousands of customers who recently had power restored have once again lost electricity. maria la rosa is in scituate, massachusetts, has more on that. >> reporter: it is hard-hit in those areas and here in coastal new england, the wind and coastal flooding is a big concern. see that exposed land out there? that was not happening this morning at high tide. we're at low tide right now, but when we had high tide was not just the high tide, but it was whipping the water over this wall. at 6:00 this evening we'll have that same kind of concern. flooded roadways are not out of the question even as we get into this evening. with that said the storm will continue to pull away and you can see

bank. we are not spending enough or investing enough in the infrastructure of america. today, china invests 9% of its gross domestic product in its infrastructure. europe, 5%. america, 2.5%, barely enough to sustain and repair what we have in place. there are no grand visions i had about infrastructure and there should be carried beyond the obvious of highways and airports, we have to be thinking about our energy infrastructure in this country and whether it serves our economy well. we have already seen thoughtful suggestions on on both sides of the aisle. when it comes to spending and future, we need to be thoughtful about ways to fund infrastructure. many of you saw the article recently in "the washington post." i want to give a belated thanks to the soviets for launching sputnik and schering americans. because of it, there was a program that got me through college and law school. these loans make a big difference, whether it is pell grants or loans. let me look at this honestly. 25% of the federal aid education goes to for-profit schools. they have more than double the student loan default rate than any other. there are ways to cut back on spending and education that will giv

barely grown over the past two years. that unexpected weakness reflects the impact of the euro area crisis and its effect on confidence and bankosts and the sharp squeeze on real incomes from higher than expected world energy and food prices. as some of these headwinds abate, a slow recovery is in progress, brought about in part by the funding for lending scheme. the committee's overall judgment about the outlook for fourth quarter gdp growth is in summarized in chart one on page six of the report. as usual, it's based on the assumptions the bank rate falls apart and that the size of the bank's asset purchase program remains at 375 billion pounds. in the near term, growth is sluggish. further out it's likely to pick up gently as households' begin to strengthen. it's likely to be above its historical average over the entire forecast period. the subdued recovery reflects a judgment that the global environment will remain unfavorable. in addition, the committee believes that the effective supply capacity of the economy is likely to continue to grow slowly over the forecast period. in october, cpi inflation picked up to 2.7%, part

whether at a food bank or park or church or somewhere where they can get the free meal during the summer as well. >> stephanie: ruth, you know, obviously we just sort of -- we barelyemember what other republicans and all of that. you have a personal story about growing one food stamps and how important that is to so many people in this country. >> i do. my mom raised three kids on her own. there was a period of time in my childhood where she couldn't do it by herself. she needed the assistance. she is a very proud woman and worked extremely hard in multiple jobs but there was an 8-month period where she relied on food stamps to get us by. it is humbling on one side. on the other you're extremely grateful there is that provision for the people who truly need them. >> stephanie: that's the thing. i think that's why in my opinion, there was so much outrage over mitt romney's comments because you know, 47% of us are not moochers. people that have to take food stamps at whatever points in their life, it is not like that's their aspiration. it is necessary. >> it is necessary. it is humbling to say i need help from somebody else, to actually reach out and take that. but

bank. we're not spending enough. we're not investing enough in the infrastructure of america. today, china invests 9% of its gdp to infrastructure. europe, 5%. america, 2.5%, barely enough to sustain and repair what's in place. there is no grand vision ahead about infrastructure. beyond the obvious of highways, ports, airports, we need to think about energy infrastructure and whether it serves our economy well. we have already seen it some thought of suggestions from both sides of the aisle, but i would say when it comes to spending in the future, we need to be thoughtful about ways to fund infrastructure. i just saw merkel rahm emmanuel's in comments about that subject. comments.mmanuel's the national defense and education act, i want to give a belated thanks to the soviets for schering in the hell out of the united states. as a result, they created a program that got me through college and law school. we cannot give up. from this kid -- for this kid comedies make a big difference. let's look at this honestly. 25% of the federal aid to education goes to for-profits schools. they have 12% of the students, 25% of the federal aid, and more than double the student l

bank. we are not spending enough. we are not investing enough in the infrastructure of america. today, china invests 9% of its gross domestic product infrastructure. europe, 5%. america, 2.5%. barelyenough to sustain and repair what we have in place. there are no grand visions ahead about infrastructure, and it should be. beyond the obvious of highways, support and airport we ought to be think about a energy infrastructure in this country and whether it serves our economy well. we have already seen some thoughtful suggestions from both sides of the aisle to take a look at that. but i was a when it comes to spending in the future, we need to be thoughtful about ways to fund infrastructure. i guess many of you saw mayor rahm emanuel's article result in the "washington post" on the same subject. secondly, in the area of education i wouldn't be here today without good education and opportunity created by the national defense education act. i want to give belated thanks to the soviets for launching sputnik and scaring the hell out of the u.s. economist because as result of it they created a loan program that got me into college law school. we can't give up on that. this kid from east s

barely anything left of the second major pier here in seaside heights. >> the subway system that carries 5 million people is flooding. >> at the hudson river, it came over the banksn this part of manhattan. there was an explosion at a transformer. >> in hoboken, new jersey where the national guard arrived late last night to help evacuate residents. >> the medical center being evacuated. >> moved more than 200 patients and even babies in critical condition. >> i was holding a cell phone, while he was putting in the iv and the epidural. >> these are live pictures. there has been a partial crane collapse. >> the stock exchange is sand bagged. it's closed for the first time since 9/11. >> the breezy point neighborhood of queens looks like a war zone after a fire devastated the small community. >> we've faced these kind of challenges before and as we have it's good to see how americans come together. >> during the darkness of the storm, i think we also saw what is right in america. we're going to rebuild but it is going to take some time and some effort and some resilience. >> are you resilient? >> yes. yes. we all are. >> you know, we'll be here for each other, you k