barney frank is angry and barney frank is here. you're watching special coverage of washington on the brink. we're there, following your money. turn left. you have arrived. sweet belt. e-reader for textbooks. gps. hd video cam for lectures. game pad. have you considered this by motorola ? it's got all that and more than 200,000 apps. technology to learn and play on-the-go. only at verizon. get the latest smartphones like the more powerful than ever droid x2 by motorola. buy one for $199.99, get another one free. the two trains and a bus rider. the "i'll sleep when it's done" academic. for 80 years, we've been inspired by you. and we've been honored to walk with you to help you get where you want to be ♪ because your moment is now. let nothing stand in your way. learn more at keller.edu. >> welcome back everybody, neil cavuto reporting from washington where we're just watching with only days to go whether they come up with an agreement here. but as you probably heard some of the ratings agencies today, if it's investors, moody's hav

but having said that, barney frank did raise an interesting issue and one i want to talk up with a colleague and friend, house producer, just because that happens, it doesn't mean you just unload en masse triple-a securities because you're under the assumption, let's say you're a bank or brokerage house, chad, that you have to. what do you make of that? >> that's the interesting thing. it doesn't work like the government shutdown where the law funding a certain branch of the federal government expires at 11:59 p.m. at a certain day and 12:01 a.m. you don't have the money to run that. this is so long as the money is in the treasury to go out the door and cut the checks, social security checks, what have you, ostensibly nothing happens. and moody's signaled nat u.s. would likely retain the triple-a credit rating so long as they didn't miss a bond payment and standard of poor's is sort of only one they think something, so we keep saying august 2nd, august 2nd, there's some degree of consequence, but not where we're shut down 11:59, they lock the gates. >> neil: right, right. in the meantime, th

tonight, the latest with massachusetts congressman barney frank and ohio senator brown. senator reid's plan may be the last hope to avoid default. >> last train leaving the station. >> republicans are signaling they may get onboard. >> have you figured out a way to make changes to make it stronger, you could figure out a way to make this different. >> unless washington can get its act together less than 98 hours from now, the u.s. of america will default the first time in our 235-year history. shortly after 6:00 p.m. eastern, john boehner's third attempt at a budget bill gesqueaked by the house. speaker has spent the last 48 hours trying to quell a rebel-on from the tea party members of the caucus. >> to the american people i would say, we tried our level best. we've done everything we can to find a common-sense solution that could pass both houses of congress. we tried to do the right thing by our country. some people continue to say no. i stuck my neck out a mile to try to get in agreement with the president of the united states. i stuck my neck out a mile. i put reven

his name is barney frank. now, i don't normally use notes, and i apologize for waiving these around, but i have them because i want to be able to make exact quotations without air. you might remember one of the refrains his every time leslie mood stood some ridiculous thing that made the economy even worse he and his cronies would be in washington and would say we need broader powers. okay. reno government is the only enterprise that when it makes a mistake it repeats the mistake bigger. well, let me quote party frank. after the collapse of the u.s. housing industry in the u.s. mortgage -- mortgage industry collapsed. he engineered from his position in the u.s. congress getting fannie and freddie to loan money to and subsidized loans of money to people who could not possibly ever own a home, could never pay back the mortgages. that was all barney frank's work. when as will the city to clean up the mess he said the way to cure that is to give us a broader powers. you can't make this stuff up. the amazing thing

barney frank talked about the top earners in the country. the top 1% of earners in this country have an effective tax rate on their income of 19%. think about that as we listen in to senate minority leader mitch mcconnell right now. >> in the hopes we can come together behind something that can pass both the senate and the house and be signed into law before tuesday. now, i don't blame anybody for being confused about what's been going on here in congress this week. but i'd like to take a moment to explain what's going on right now. last night, the democrats who control the senate, proposed a bill that would lead to the largest debt ceiling increase in the history of the united states and which completely ignores the root of this crisis. this bill has one goal -- to get the president through this next election without having to have another national debate about the consequences of his policies. the president wants to make sure this kind of debate doesn't happen again even as he gives democrats in congress permission to add trillions more to

barney frank would be in there hectoring, shouting-- "we don't have a safety and soundness problem. we should care more about housing." >> reporter: representative frank rejects the charge, thinks morgenson is getting back at him for his complaints about her coverage of the dodd-frank financial reform law. >> i made the mistake of being very critical of her, i guess, to her editor, because i thought she misreported on the financial reform bill. so she's been very angry. that simply isn't true. i asked her for the evidence that i was constantly hectoring. there was one case, one hearing she cited. in fact, the bill in question that passed in '92 was signed by george bush. it was non-controversial. one version passed the house with only eight negative votes. the second was a voice vote. she simply is describing a debate that never happened and, as i said, i know there are reporters that think you should never criticize them, and they get even. that's what she's doing. >> reporter: frank's response to other charges in the book is on our web site. others point out that the sub- prime bo

we're going to be talking about democratic congressman barney frank in just a moment about how he sees this all ending. but as we head toward an end to this crisis, an end that is likely to reveal the utter pointlessness of the last few weeks of wrangling over a deal that never happened, in the midst of that storm of pointlessness, from presidential politics of all places came today a reminder of what is not pointless. of the real crisis that the country wants washington to be working on, the real crisis that washington hasn't been working on that maybe they can finally start working on once this pointless crisis of their own making finally gets settled. today politico.com got access to a political ad that never ran against mitt romney when mitt romney was running for the united states senate in massachusetts in 1994 against ted kennedy. this never aired, but it was given to politico.com today. check it out. >> mitt romney says he saved bain & company. but he didn't tell you on the day he took over, he had his predecessor fire hundreds of employees. or that the company was rescued with

his name is barney frank. now, i don't normally use notes and i apologize for leaving these notes around, but i have them because they want to make exact quotations without error. you might remember one of the refrains is every time he wesley milch did some ridiculous thing and the economy even worse, he and his cronies have made in washington and david say, we need broader powers. we know government is the only enterprise makes the mistake bigger. let me quote her in a frank. after the collapse of the housing industry, a collapse any other engineered from his position in the u.s. congress getting fannie and freddie to loan money and subsidized loans of money to people who couldn't possibly ever own a home, could never pay that mortgage is. that was all barney frank's work. when asked what we should do to clean up the mess he said quote unquote, that we could carry that is give us broader powers. [applause] you can't make this stuff up. the amazing thing is ayn rand did 54 years ago. frank is more like a mooch

barney horner, who is the great grandson of chief john grass from standing rock reservation in south dakota. one of the songs he gave me before he passed on, on indigenous people's day in 1995, was a song that he called the blue horse special. the blue horse special is the song that i have been fortunate enough to be able to play in a lot of different performance contexts. it's a song that was made by a man named matthew too bold, a very well respected elder whose wife, ellie, just recently passed on. both of them were very well respected for their singing skills. when i thought about doing an arrangement for today, the blue horse special came to mind. i thought i wonder if i can bring a cedar flute into an air, i thought, i wonder if i can take a pala song and turn it into a reel. what i will do is sing you the original pala song, so you can hear that, then we will go into an arrangement that also includes a little something at the end for my grandparents. (singing) announcer: b dreams and good grades aren't enough to get into college. there are actual steps you need to take. findin

of the public interest ought to prevail over his own self interest a seemingly reasonable comment barney went nuts. with the public interest story point that while there to be talking about the public interest on your show it you i just dismiss it i guess oh yeah i just want to i do not like the billionaires socialists who hate america and try to make money out of our rude i don't like back ok i think barney is confused he must be talking about the koch brothers not george soros. is begging to be taxed more and support policies that cost him money but improve the nation of course koch brothers generally support policies that make themselves rich at the expense of us that's one of the significant differences between billionaire conservatives. and billionaire progressive presses want to contribute conservatives want to make off with a big profit and the very very ugly tea party congressman joe walsh walsh is bashing the president and encouraging our nation to default on its debts because he's busy not meeting his own obligations namely pain child support ex-wife claims he owes over one hun

aquÍ en washington, darwin barney rompiÓ el empate mediante un doblete en la novena entrada, para coronaroquecido de los cachorros de chicago, que se recuperaron de una desventaja de ocho carreras y vencieron 10-9 a los nacionales, escucho bien ganaba washington 8-0 en el cuerto periodo y termino perdiendo 10-9. por los nacionales, el venezolano wilson ramos se fue de 4-1 con dos impulsadas. el cubano liva Án hernandez en el fenway park, otra paliza para orioles. el dominicano david ortiz conectÓ un jonron, y los dos siguientes bateadores en el orden hicieron lo propio en la sÉptima entrada, para que los medias rojas de boston vapulearan anoche por 10-4 a los orioles de baltimore. dustin pedroia tambiÉn aportÓ un vuelacerca, que produjo tres carreras. de hecho, seis diferentes bateadores de boston empalmaron sendos bambinazos, incluidos los tres seguidos de ortiz, josh reddick. boston, se colocÓ medio juego arriba de los yankees de nueva york. los dueÑos de los equipos de la nfl y los dirigentes del sindicato de jugadores se reunieron por mÁs de 12 horas ayer, sin llegar a un acuerdo para

street that led the way to subprime mortgages it was actually the government that did it and that barney frank and chris were odd because you know this was going on people's doors saying it is ready for as a result of what president clinton did with the affordable housing act it opened the door for the government to start the subsidizing these people who should not have been so it's be affordable housing to activists right subs i'm not going to say is you it's a new book that's coming out by a new york times. reporter because a book doesn't you know it is one of the reason i bring it up is because it confirms what i nor any report of the seeds then she's really whole reason let's let the jury hear a moment that there's two two bit two entities and that the clinton ministration that the democrats were fought for saying hey you guys it and put it on the breaking waters died for you introduce the act that has transformed what phil banking industry let's see a very very difficult for the banks to do anything let's actually it's the opposite it's very easy for the banks to be to now if they'r

barney hits an rbi double to right. he is a strong up and comers. this is the worse lonely in nats-expos history. >> you can charge that to me. i tried to save some guys in the bullpen. i felt that if he could get me through six, i could save a bunch of people. >> mike morese lost the vote for the final spot on the all-star team. victorino will join the team. he is joined by a konerko. wang looks like he could return to the majors in a matter of weeks. he has not pitched in the majors since 2009. he threw his sinker as hard as 92 miles per hour. he will make his next start in five days. the orioles are in boston. we go to fenway for what would be a mirage of home runs. adrian gonzales, that is a home run. it may be a bit too soon to ask the miami heat fans if nowitzki is the game'is greatest. ali sent dirk some boxing clubs with the inscription who you are the greatest. he was flattered. that be a sign of things to come. williams said that he plans to play in turkey if the nba lockout does not solved by the fall. >> honest. [ female announcer ] keur

in the ninth inning, barney, a star rookie, helped seal the deal with a double. the national's lost 10-9, a demoralizing loss. the club feels confident that it can bounce back. >> it is easy to get over this one fast. >> we have a lot to look forward to. we have a big weekend series. we look forward to winning the series bling idiots colorado. >> -- winning the series in colorado. >> look at espinoza on his knees, thrust the first to get the out. unbelievable. just one complete motion. he could be their future shortstop. he defies gravity. he has now earned sports centers top plays. he sent a bullet to first for the outbreak he does not even break that line. the indians when 5-4. rather than wait for the n.c.a.a. to deal out punishment, the ohio state are doing that themselves. the school vacated all 12 of its victories from 2010. this comes on the heels of the head coach resigning. other measures officially taken to date include a five game suspensions of five players involved in violations. those players sold paraphernalia for cash. breaking news, capstans. he

joining us now is democratic congressman barney frank of massachusetts. the ranking member of the house financial services committee, and co-sponsor of course of the dodd frank wall street reform bill that passed one year ago. congressman frank, nice to see you. >> thanks, rachel. >> can you give me your understanding of where the current negotiations are on the debt ceiling? >> yeah. i don't know. i mean, i can be very honest with you. there's a lot of going back and forth. look, we have this problem. there are a substantial number of republicans in the house who have a serious problem with reality. a large number of members of the house republican caucus agree with michele bachmann that we shouldn't raise the debt limit, which would be of course an economic disaster, which even ronald reagan understood was crazy. another substantial chunk don't agree with michele bachmann, but they are afraid of losing a primary to someone who does agree with her. so we have this reality problem, and i do not know what will happen. these are people who are in the mediev

he said bigger, stronger and faster than barney. this is the type of person. >> greg: intense guy. shirtless and chops wood. >> kimberly: that is what the video are asking for. >> dana: this is gross. >> greg: i can get behind this. >> kimberly: new way to campaign in russia. >> greg: these are better than the way we do it here. >> kimberly: had i known they were giving away ipads, too. >> dana: putin walks around shirtless. bob wanted to get the topic and i do, too. a poll today said a lot of people make their decisions in russia or here, anywhere around the world, they make their decision who to vote for based on looks. appearance does matter. because it can be very distracting. there is a lot of people in the race right now for republican nomination that you could say, they look like america. they are not unique. i wondered if somebody like a taft, who was a very heavy person or madison, he was the shortest president at 5'4", can you imagine in a debate with president obama what it looked like. facial hair. president hays had facial hair, i don't think any of guys in the modern

no one is taking it seriously than you and that dope barney. wake up. we are out here in the reall world. >> you are no more in the real world than the man on the moon. you no more understand real people. than the man on the mood. you are not driving anything except for from the back seat of e limo. >> i drove my f-150 pick up that is pack up. >> you are lying. >> you have a driver waiting inside and that's what you are doing. you told a lie on national tv. >> i am driving the truck. >> okay. let me ask you about this and you are open and honest talking about your previous addictions and drugs and alcohol, and i kind of liken what is going on in washington in a similar way to addiction to spend . never get over it. one of the things i offered a couple of days ago, i want your reaction to it. washington needs a wake-up and if it is a down graped thradoes it cruel as it sounds, it is a wake-up call of doing that to an addict. what do you make thav? >> why do we have to use unfortunate events in my past and when i did cocaine and vodka. >> you did more tha

. >>> congressman barney frank. a response to that next. looks like american performance is doing just fine. ♪ carry on. ♪ time to mix it up with new philly cooking creme. it'll make your chicken creamier, dreamier, with lots of flavor. spread the love in four fabulous flavors. spoon in a little new philly cooking creme. spread the love in four fabulous flavors. somewhere in america, a city comes to life. it moves effortlessly, breathes easily. it flows with clean water. it makes its skyline greener and its population healthier. all to become the kind of city people want to live and work in. somewhere in america, we've already answered some of the nation's toughest questions. and the over sixty thousand people of siemens are ready to do it again. siemens. answers. >>> the dodd-frank bill was used to bring this country to the verge of financial collapse. kw one year later the republicans are doing all they can to block the law. block the president nominee to head up the consumer protection bureau an agency that protects investors of being st

fellow gang member senator warner and barney frank. breaking news in norway, an explosion rocks the prime minister's office building. two people are reported dead. 15 injured and an historic change here for the military. a major step towards finally getting rid of don't ask, don't tell. >>> plus unspeakable tragedy unfolding half a world away in the horn of africa. the faces of famine. pictures that are hard to watch, but impossible to ignore. actress and human rights advocate kristin davis just returned from the region and will join us this hour. >>> good day, i'm andrea mitchell live in washington. the balanced budget amendment now shot down in the senate. and the mcconnell-reid fall back plan short of votes, there's only one plan left the plan crafted by the president and speaker boehner. but it's already underfire from the left and right. luke russert covers capitol hill and joins me now. luke, you've been doing a lot of reporting. there was an exclosive meeting yesterday and they were still venting this morning. that and the repub

there is a statute from what barney frank was saying that is not the case. that could give institutions wiggle room or not? >> i don't think that dodd frank can override a mutual fund perspective. the by laws say you have to hold a certain amount of triple a securities. be honest about the debate. we have one rating agency moody's investor service that came out yesterday and said unless we default, we are likely to keep the triple a. s&p. it sounds like they are going to downgrade and let's say s&p lowers us to a double a . that is a split rating? i covered the bond market all of the time and institutions go with a higher rating. i will say this, neal and your last guest hit the nail on the head. we have a chance right now to do some good things and cut the budget. this august 2nd deadline. >> we are going to be up against the deadline. >> it may not mean anything. we are not going to default. people are going to get their social security checks. >> i am sorry we are having serious audio. and we remind you we are back on sunday with special coverage especial

we go to the national press club where congressman barney frank will be speaking. a look at the dog-franc reform bill. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] >> please keep questions brief and to the point we can get in as many questions as possible. after the press has been affecting their questions, other audience members are welcome to rest there. congressman barney frank represents the fourth congressional district of massachusetts and he is also the ranking member of the house financial services committee. he helped pass the dodd-frank consumer protection act last year. welcome, congressman frank. >> thank you. those of you who cover the financial services committee might ask your editors for dual pay because you will also be covering the republican presidential campaign. for the first time in history, three declared republican presidential candidates set up and -- financial services committee, ron paul, thaddeus mccotter, and michelle bachmann. we have ever had three declared presidenti

when this scandal broke in 2009, fox's steve barney yanked murdoch's ass out of sun valley and laid the smack down. >> the story that is really buzzing all around the country and certainly here in new york is that the "news of the world," a news corporation newspaper in britain... >> i'm not talking about that issue at all today. sorry. >> i can, no worries mr. chairman, that's fine with me. (laughter). >> jon: and stay down! we'll be rig (cheers and applause). >> jon: welcome back. my guest tonight, he is the former president of pakistan. please welcome back to the program pervez musharraf. sir. (cheers and applause) nice to see you, sir. thank you for joining us. (applause) have a seat. (cheers and applause) nice to see you again. thank you for joining us again. we appreciate it. >> thank you. nice seeing you. >> jon: the last time we... i prepared some refreshments for us. i prepared tea and a twinkie. (laughter) that was our... we have to take it up a notch because of the deterioration of our two country's relationship. (laughter) power aid and balance bars. (laughter) i don't know

when this scandal broke in 2009, fox's steve barney yanked murdoch's ass out of sun valley and laid the smack down. >> the story that is really buzzing all around the country and certainly here in new york is that the "news of the world," a news corporation newspaper in britain... >> i'm not talking about that issue at all today. sorry. >> i can, no worries mr. chairman, that's fine with me. (laughter). >> jon: and stay down! we'll be right what is that? oh, we call it the bundler. let's say you need home and auto insurance. you give us your information once, online... [ whirring and beeping ] [ ding! ] and we give you a discount on both. sort of like two in one. how did you guys think of that? it just came to us. what? bundling and saving made easy. now, that's progressive. call or click today. (cheers and applause). >> jon: welcome back. my guest tonight, he is the former president of pakistan. please welcome back to the program pervez musharraf. sir. (cheers and applause) nice to see you, sir. thank you for joining us. (applause) have a seat. (cheers and applause) nice to see you aga

outs, and barney shoots one into the right field corner and tony campana scores. the cubs rally from eight runs down to beat the nats 10-9, the final tonig final. tonight they take on the rockies and davy johnson, the manager said that was my mistake, left him on too long. >> must be hard to see that happen. you can see him coming. got to be terrible. thanks. >>> coming up, a look at the future of >>> nasas final flight is under way now. while there won't be anymore shuttle missions, a company right here in the d.c. area can get you a seat on a russian rorkt. derrick ward has the story. >> reporter: the last liftoff for a space shuttle. the program has brought success and sorrow and a sense that there is more of a chance for nonastronauts to fly into space. >> it's because more people who look like more of us and who might be like more of us, who are medical doctors or researchers and not just necessarily jet test pilots were able to fly on this vehicle. >> reporter: until nasa gets the next generation shuttle off the ground, this russian rocket will be the way to

when this scandal broke in 2009, fox's steve barney yanked murdoch's ass out of sun valley and laid the smack down. >> the story that is really buzzing all around the country and certainly here in new york is that the "news of the world," a news corporation newspaper in britain... >> i'm not talking about that issue at all today. sorry. >> i can, no worries mr. chairman, that's fine with me. (laughter). >> jon: and stay down! we'll be right you didn't get a miller lite? no. what's the difference? miller lite has more taste. i don't care. i just got one of these. well that's the second unmanly thing you've done today. what was the first? ahhhhh! get me off this thing right now! get me off this thing! get me off this thing! yeah, i guess that was unmanly... [ male announcer ] man up. choose a light beer with more taste. grab a miller lite vortex bottle. taste greatness. hey, look. i made t-shirts! awesome. (cheers and applause). >> jon: welcome back. my guest tonight, he is the former president of pakistan. please welcome back to the program pervez musharraf. sir. (cheers and applause) ni

. >>> morgan smith barney is contacting 34,000 of its customers tonight. their personal information got lost on the way to a government agency. two cds are missing containing the list of numbers and details most of us would rather keep private. social security in connection with, account information and tax i. d .s. if they give you a call to let you know that you are included in that number you want to make sure you alert the credit bureau to keep watch for any suspicious posting. >>> it is a decision that could have changed the course of american history. according to a new book president obama's father considered putting his son up for adoption. boston globe reporter sally jacobs writes that the elder obama told administrators at his college that his wife was making arrangements with the salvation army to give up her unborn child. according to former white house press secretary robert gibbs, president obama said he is absolutely convinced this was never his mother's intention. >>> coming up tomorrow. a long chapter in space history is supposed to come t

north stanley smith barney mailed two cds with personal information about 34,000 clients to the new york state tax department. it arrived but the cds disappeared and there's no evidence of wrongdoing. and the auto industry is hiring at a faster rate than the rest of the economy. that's because sales are rising and auto makers are adding shifts to meet the demands. the treasury department is printing less paper money because more and more purchases are now made with plastic. in fact, last year the government didn't print any 10 dollar bills. but don't write off cash yet. most americans like to keep a little on hand. and music sales are increasing again up 8 1/2% in the first half of the year. the increase was fueled by am bums such as adelphi's 21. album sales are rising for first time in 7 years. and that's america's money. i am peggy bunker. >>> now "good morning maryland." >>> welcome back. new video from the arizona dust storm we showed you yesterday. now this is a time-lapse version making it look much more frightening engulf the city of phoenix. it created a dust storm. it's known a

the other chicago team the cubs made a wild comeback in washington, darwin barney a tie-breaking doubleh, finished a rally from eight runs down, the cubs beat the nationals 10-9. bases loaded bottom of the ninth in cleveland, a drive is smashed into the right field seats, the walk-off grand slam homer gave cleveland a 5-4 win over toronto. >>> hall of fame baseball manager dick williams died, he won two series with the oakland a's in 1972 and '73, he won pennants with two other teams and managed six other teams in 21 years in his career. williams was 82. >>> nfl hall of famer john mackey is dead at 69. mackey redefined the tight end position playing for the baltimore colts in the 1960s, president of the nfl players' association and pushed for better health care for former players. >>> when we come back on this friday another look at this morning's top stories. >>> and rupert murdock shuts down a cash cow tabloid, that's news. we'll hear about it when we come back. good morning! ♪ [ female announcer ] nutri-grain -- one good decision... ♪ ...can lead to another. ♪ ♪ with real fruit, more

i talked just a little while ago with congressman barney frank, who is the top democrat on the house financial services committee. and he gave me an idea of what he believes needs to be in any bill that could get support from both democrats and republicans this weekend. listen up. >> significant reductions going forward, not immediate, in domestic and military spending, deferring the tax issue for when the bush tax cuts expire, so we can fight over that top 2%, and not cutting medicare and social security benefits, including in my point, further taxation of the upper income social security and medicare benefits. i think that's a package that could pass. >> reporter: now, what barney frank does not think will pass the house is the bill that passed the house last night. that, of course, is the bill that was put forward by the speaker of the house, john boehner. boehner said he did everything he could and he really stuck his neck out. listen to him. >> and to the american people i would say, we've tried our level best. we've done everything we can to find a common sense solution that co

barney completed the comeback with an rib single in the ninth.he cubs won it 10-9. >>> the sports world lost two legends. dick williams passed away at the age of 82. he led the a's to back-to-back titles in the '80s. and john mackey died at the age of 69. >>> soccer fans around the nation will watch the women's world cup this weekend when the usa plays brazil in the quarter finals. the under 17 world cup. mexico trailing 2-1. they tie it with a corner kick. they did just that. the ball untouched and into the net. one of the toughest goals to score. hooul owe gomez, a thing of beauty. a bicycle kick. injured his head yerler in the game. mexico put on a show and won it 3-2. have a great weekend. i'm fred roggin. >> and now for another quick look at the weather, here's nbc meteorologist billy joe karins with the weather forecast. >> you notice how hot it was yesterday? >> i slept all day. no i didn't. >> you were in the a.c. you were smart. yesterday was 95 in d.c. on top of that we had humidity in the air. that was different from yesterday and the