i went to barron's after "the baltimore sun." i had by that time become a financial righter. at barron's there was one of these nasty intramural spats, the lower the wages, the more intense and petty was the contention. i couldn't stay there and barron's, you could see one's copy in the print, so i felt, okay, what i'll do is start my own sheet. i realized that according to the surveys that dow jones ran i had many tens of thousands of readers in my column. i thought, well, if only a few dozen thousands of those loyalists signed up for my publication, i would instantly have almost insurmountable tax problems so rich would my family become. so about -- almost 30 years ago i started grants, and i discovered -- well, i had one of the consummate adult experiences. one of those experiences is having children. another is starting your own business and realizing that when people returned your calls when you were an employee, it wasn't because of you. you were living on the borrowed luster and affiliation of the organization with which you worked. so i had the ever-so-eye-opening exp

three journalists who cover the economy for politico, the economist and "barron's" provided analysis on multiple issues including uncertainty among u.s. businesses, and the debt crisis and federal reserve ben bernanke's job performance. this is an hour and 15 minutes. >> related to the presidential election. so please keep watch on press.org for other events and aga again, i just want to thank you for braving the weather this morning. so i kind of think the next five months will be pretty interesting as we see how obama and romney duke it out, and i think our panelists would agree, as well. i just want to show you the front cover of the economist and the sinking ship with the world economy and that's one testament there. and at "barron's," and we're getting red flags about the possibility of sequesterment in january that could lead to $1.2 trillion and trillion with a "t" folks of spending cuts and for me, the most telling element that economics matters to washington, d.c. is that i hear that politico is hiring some economics writers. so if you have any questions on that maybe he can

talk about a tough wearing a shocking sight one woman came home to after running a couple of barron's. >>> it breaks your heart a small basketball fan with a very big tears the viral video coming up. >>> so much for the summer heat trickling down big time around the bay,,,,,,,,,, ,,,,,,,, >>> however agitate gets at least your house wasn't stolen up by a giant sinkhole. that's what a florida woman discovered when she returned home from running a couple of aaron's down town. three of the rooms to house its 20 to 40 ft. below and houses condemned and neighbors are warned to stay clear because they might be next >>> have you even begin to start over from that. >>> that thing could expand that's weather word about the neighbors. what a change from yesterday we had a hot '90s outside and today is going to be different. as a hint of the day with see the cooler temperatures approaching the coast line not much of the way of cleaning. members now in the '50s and '60s. a much cooler day as we have a very strong see breeze and only partial clearing as we head toward the afternoon tonight cloudy

you've had a long lunch with one of the barrons himself. do you think it would help if more policymakers in america had experienced war? >> i do. i think it would be -- i think world war ii generation, the korean war, these people were in congress and makes a big difference because they know war. and when you don't, you start to be like a bit of a chicken hawk. a lot of these neoconservatives that have started these wars in the last 20 years have no war record. ge except for rumsfeld. cheney, rove, bush. it's not an attractive portrait of people who can call for other people to suspend their lives. also, well, the whole issue of vietnam, you know, the whole -- lyndon johnson never raised taxes. and bush jr. never raised taxes during the iraq war. so, you know, the whole idea of how to fight a war is what's weird in this country. we have to learn that it's a national -- if we go to war, it's a serious thing. >> everyone's in it together. >> yeah, but we don't call it war in this country. we call it a mini-event or something. >> what was it y

to live with people like the master of the roads, the master of the courses, pages, countesses, barron's -- how do people live in that environment? it is it fun? is it stodgy? >> well, she obviously has to go around and she has a set calendar that as outlined one year ahead. they fill in the details. there are said rituals she has to follow, but she does have time to have fun. he has fallen on the weekends. she loves to ride. she goes back with her friends on shooting weekend's and she picks up the pheasants that her husband and other people shoot out of the sky. so, but she has never known any other life. because of her hereditary position, everybody treats her with special deference, including her children and closest friends. they all have to bow when they greet her and say goodbye to her. i spoke to one of her friends from childhood and he told me about the time the royal family came to visit his family at their castle in scotland and he was fooling around, and he took care and he tossed her on the spfa and her father -- his father punched him in the stomach and said never do that to

eagles declaring a mistrial on the remaining charges, charges that almost $1 million provided by fred barron and rachel bunny mellon to head edwards' pregnant mistress, rielle hunter, while he ran for president amounted to ill legal campaign contributions. edwards' attorneys argued the money was a gift and on one count the jury agreed. for that, edwards was contrite. >> while i do not believe i did anything illegal, or ever thought i was doing anything illegal, i did an awful, awful lot that was wrong. and there is no one else responsible for my sins. >> reporter: the justice department can still choose to retry edwards but given how this turned out, legal experts say it's not likely. >> the government had to show he had criminal intent, they got all the rulings in their favor but couldn't get at conviction. >> reporter: edwards says he plans to return now caring for his children to include the now 4-year-old daughter he had with hunter. chris clackum, nbc news, greensboro, north carolina. >>> gop presidential nominee mitt romney has won the endorsement of former first lady nancy reagan. rom

the commanders, the barrons as a call them, the intelligence barron barons.assad's own family. his brother. his brother-in-law and the like. if you are a decent professional if you are a sunni officer looking at the behavior of this barbarous regime, killing people, killing children, using children as you enter as cover, i think you feel a sense of embarrassment and shame about what's going on in your country. >> foaud, thank you very much. >>> coming up, president obama tells a conference of hispanic legislators why they should not vote for mitt romney. ♪ ( whirring and crackling sounds ) man: assembly lines that fix themselves. the most innovative companies are doing things they never could before, by building on the cisco intelligent network. ♪ [ male announcer ] its lightweight construction makes it nimble... ♪ its road gripping performance makes it a cadillac. introducing the all-new cadillac xts. available with advanced haldex all-wheel drive. [ engine revving ] it's bringing the future forward. it's bringing the future see life in the best light. [musi

if those are the rules and the barrons made king john sign it was the rules in runnymead in what, 1215. so that's been the rules for a long time. two and a half years without charge is an amazing thing, but it could happen to jose padilla because of who he was. but what would it take in this country for it to happen to you or someone you know or someone who lives in your neighborhood? again, not because he's a good guy. the courts have found he's a bad guy. but what our legal protections, what our civil rights exist for is not to protect the rights of good people. it's to protect the rights of people we suspect might be bad people. the jose padilla case should be something that we don't forget very soon. >> i want to switch gears just quickly and get back to the panel. i know this is about contemporary struggles, but i want to take us back to robert kennedy's famous trip top south aftrica so we can have the scren come down. he was invited by a group of students while he was a senator, and after he accepted the invitation, the head of the organization was actually arrested and was not a

why didn't they say not only are people fierce but it's barron and no way to make a life there.f you want to get away with a big lie, you fool people by starting with a small truth. we know as this has been going on how much we hear from the administration about how much they love israel and what they do for israel and point to little things here and there that they have no choice but to do or constituencies or whatever and they are pushing them to do it. it's not coming from a feeling that they want israel to be strong and to survive and to thrive. we'll be hearing a lot of big lies prefaced by small truths. i think you all know. we'll keep an eye on that lesson. as we go forward, it's our job to tell the big truth. how do we tell the big truth? well, we're the faith and freedom coalition. we join together in the field. we work for what we believe to be true. and we send our work, our good works up to god as our prayers and that's what we do together. that's what unites us together and unites us as american and that's why this is faith and freedom coalition, jewish, christi chr

and chris barron, go proud co-founder. and he is back from his latest round, my repulsive sidekick, bill schulz. and if hilarity was an ab workout, i would do him in under six minutes on the floor of my living room. next to me, comedian or so he claims to be though i haven't seen proof, shaw rad small. and the words he doth say willied you a stray. good to see you, pinch. >> a times editor your wholeheartedly supports the demolishing of the great works dam. there by replenishing the dore president ma salmon population. >> well done. >> i was guy be inned hind the guy -- behind the guy in the t-shirt. >> it is a pittsburgh pirate. it is a pittsburgh pirate ladies and gentlemen. there we go. >> there is the proof. >> does flashing a severed head mean they want him dead? "game of throwns" apologized for george w. bush's head on a spike during the show's season finale last year. the whole thing had gone unnoticed until they put it out on their dvd commentary track. >> i am saying people should back up. the last head on the lef

michael barrone, you can ask him any congressional district and he can tell you the ethnic breakdown,istory of the british kings and queens. i was watching this tuesday and it was a heartbreaker for people like my colleague ed schultz. i think there was a lot of trump about the potential for a lot of things happening and falling in place that didn't happen, thinking all labor people would vote together. >> by wathe way, republicans, that's usually about the labor share. >> the other thing is a lot of people thought the recall should only be used when somebody is a crook, basically. this is their authority and 70% of the people took that. a lot of things got in the way of this thing being a real political test. let me ask you about this. a lot of money was thrown in there by big people, the usual suspects. people are spending roughly half a million bucks apiece, and they win. is the message now to the big people on the right it works? start spending big money, you can knock off obama. >> it's a message in 2008, right? look at -- you had the biggest money campaign in the history of pres

did this guy fred barron give them illegal contributions.wo more counts did bunny mellon and two counts whether he conspired and lied. the only one they reached a verdict on and it was not guilty and s. whether in 2008 rachel bunny mellon gave him campaign contributions that should have been reported. the prosecution didn't prove that everything else they had jurors this that deliberation room who could not reach agreement. some were saying guilty. some were saying not guilty. >> bill: they come to the judge and said we have five verdicts we have decided on and five we have. no the judge says to them okay. go back. >> get back in there. >> bill: get back in there and give me a verdict on the other five. they are back in there for 15 seconds and back out again. >> like an hour. they come back out. they say we are hopelessly deadlocked. >> bill: hopelessly. >> the judge had given them the so-called allen charge which is get back in there and keep deliberating. it didn't have as much teeth as you can have. >> bill: second time they came out aft

. >> michael barron, any congressional district, he will tell you the ethic break down.et me ask you about this. i'm watching this tuesday, and it was a heartbreaker for people like ed schultz and labor guys, i think there was a lot of potential falling into place that didn't. 37% of the labor families voted for the governor. >> that's usually about the labor share. >> everybody thinks all labor people are democrats. the other thing is the people thought the recall should only be used when someone is a crook and misuses their authority. let me ask you about this. a lot of money was thrown in there by big people by big suspects, and heindricks with a lot of money, and they win. is the message to the people on the right that is works? >> it was a message in 2008, right? on the other side. look at, you had a democrat -- the biggest money campaign in the history of presidential politics was barack obama. what did it mean? he carried states that democrats had not carried in a generation. i think -- >> are you surprised right now looking at romney this month? these numbers are

barron's calls him the real bond king. even with the u.s.all-time lows he believe the treasuries are still an attractive place to be. joining us is robert kessler, founder and ceo of the kessler companies, thanks for being here. >> thank you. >> when we look at treasuries at 1.5%, that makes a lot of people think, oh, my gosh. why would you give the government money tore ten years, expecting a yield of 1.5%? what makes it still attractive? >> for some reason we have a problem with zero. which is where the federal reserve is. and the federal reserve has been there the last three years and that kind of tells you that anchor is really determining these other rates that we're looking at. and as long as we think the federal reserve is going to be at zero, then rates have no place to go other than to meet that zero. and, in fact, we have countries all around the world right now where rates are negative, an amazing thing. switzerland, minus a quarter of 1% for a five-year treasury. so people are paying to give the government money to know they're g

committed the pain finance violation with was money freely given to him by bunny mellon and fred barron name is from texas. $1.5 million. bunny mellon the 101-year-old heiress who gave him the money testified she was giving it to him not as a campaign contribution. >> bill: as a gift. >> a gift. in fact she paid gift tax on the money. >> bill: that was it, right? >> you had to prove that john edwards in his mind knew that he was going to use that money to cheated campaign finance not to save his family from further hue mill quation. >> bill: you think the verdict was correct? >> i think the verdict was almost a slam dunk. i can't believe that the prosecutor, the same team, the same discredited team that brought the case against republic senator ted stevens brought this case and i think they did it to show that they were even handed in their -- >> bill: attorney general holder has got to be embarrassed it's his crew. >> i would agree. >> i didn't use the john edward's self-serving microphone thing afterward. the reason i didn't use it is i didn't want to offend my audience. i don't think

>> look, talking with speaker barron with mike emanuel. the fact that the speaker had been cautious about moving forward in this suggested it might have blown up in their face. now they are giving the green light. this will fire up the republic base heading into november. look what dan pfeiffer the white house communication director is saying earlier today instead of creating jobs or strengthening the middle class, congressional republicans are spending their time on a politically motivated tax-pair funded election year fishing expedition. the hope inside the white house is they can paint this as republicans overreaching, if you will, and while it fires up republicans, independent voters who actually decide these elections may look at it and say look, this is a little bit too much. too much investigating, fighting in washington. instead they should be focused on jobs and the economy. that's the hope inside the white house, shep. >> shepard: ed henry outside the white house this evening on a sweltering first day of summer. brian terry's mot

which is the really vile drug barron end. it all goes horribly wrong. you've been no stranger to drugs. you've spoken very vocally about it. what was your purpose of making the movie? what do you hope to achieve? all your movies have a purpose. >> it's pretty hard-edged. it's like writing a book. i think i made the movie because it was different. you didn't know what was going to happen next. it's a wild ride. you don't -- it's an improbable situation because we don't know anything about the present day contemporary marijuana industry. in california, it's legal. so these growers are growing it semi illegally. they're selling it out of state but they're also selling it in state, which is legal. of course the cartel. hypothetical fiction. wants to move in like a walmart would move in on a niche business and take it over. learn their techniques. >> you've been to south america a lot. you've been very outspoken about the way mexico has treated the drug war. what is the simplistic answer do you think? >> this war on drugs got bigger since 1970 when nixon dec

there is not just copper bearings, but union barrons.of the aisle and controlling politics. it's not between candidates, but between special interest. >> coming up next, actor eugene levy. >> he's great. >> he's called upon when bad things happen. we will talk to ken fein berg who determine what is gets what after disaster strikes. why seeing the gulf oilpill claims. >> a guy who is not prepared for his role. bill, give him a dart board. just give him the dart board. >> see what happens. >> he makes up stuff. a little ambien. what's the forecast. >> my turn? i will work on that actressy thing. the forecast, this is an easy one. florida is wet and we are watching heat in the rest of the country. unless you are on the northeast or the west coast, it's a hot summer pattern. the horrible thing. it's isolate and where it is happening is very, very bad. let's talk about the story that is encompassing much of the story. you can believe it was 105. wor 08 in phoenix. that tied the all time hottest temperature. all the heat has been in the middle

barrons refused to publish my article .t: we'll go out to texas, pete is on the independent line waiting to talk to mr. pitt. go ahead pete. caller: good morning mr. pitt. my question deals with the fines. i remember during the housing meltdown. i read i believe it was in 2007, got $140 million in profit. the fines that the sec were able to against him were in the $60 million range and those were paid by bank of america or whoever took over countrywide. he didn't have to admit any wrong doing. this seems like a joke. china has something right when their executive, her people, they do public execution. is there any way the sec might be able to get to that point? guest: well, let me just say the whole question of sec fines has come under scrutiny. very bright and thoughtful judge, federal judge in new york judge jedd raycoff questioned sec. with respect to your question, one thing that i think becomes very important is to understand that when a corporation pays a fine, that money comes out of usually the corporation's coiffur

i said, why do you go on fox and barron, whatever they call it, and screw it up?for mayor? obviously as a new yorker i ask for that question. a lot of speculation. does he have it in his heart, do you think? >> i think that politically i think he would be -- he already is very valuable and i think he would be very valuable. i'm not quite sure if he should pursue elected office. i think he's the kind of guy, i don't know if he has the ego for this, but i think he's the kind of guy behind the scenes that would make an excellent chief of staff. i worry about someone with his temperament, you know. i endorse him but i'm not making an announcement that he would be running. i would certainly back him. >> billy, thanks so much. appreciate your taking the time. >>> "out front" next, there's no real jewels or gold. on saturday you can buy it at a shoe store. if you want it today, it could cost you $90,000. we'll show it to you. [ woman ] for the london olympic games, our town had a "brilliant" idea. support team usa and show our olympic spirit right in our own backyard. so

and when it came down to it, you didn't have rachel bunny mellon testifying, you didn't have fred barron, you didn't have john edwards, you didn't have rielle hunter. all you had was andrew young. could you trust his word when he made so much money out of this? it was just a reasonable doubt case. that's what i really think it came down to. >> thank you. we'll go now to erica in london. hello. >> charlie, good morning. nice to see you this morning. the u.n. human rights commission is meeting in geneva today to discuss the growing crisis in syria. the commission is considering charging syria's government with crimes against humanity for last year's massacre in hula. as alex thompson reports from damascus, the government is trying to shift the blame. >> astonishment around the world that the syrian government in damascus is blaming the massacre at hula one week ago in which more than 100 people were killed most of them women and children, armed militia armed with heavy weapons. i can say i myself have personally witnessed heavy weapons being used in hula and those were very much in the han

of course, she's deceased, fred b barron, he's also deceased. he's a texas trial lawyer. bunny mellon, the other big contributor in this case, 101 years old, lives in northern virginia, can't see very well, and didn't testify at trial. john edwards himself did not testify in this trial. and neither did rielle hunter. so a whole list of people who didn't get on the stand this time and probably wouldn't get on the stand next time if the government were to decide to retry it. >> and one would imagine a very expensive retrial, right? >> reporter: that's for sure. we've been trying to figure out just how much all of this would cost. and it's very difficult to calculate, partly because you have to wonder what some of these expensive attorneys particular already for the government might be doing if they didn't have this case to do. so it's a little hard to calculate that. but it's one of those kind of keeping them honest things you might want to look into. >> joe johns live for us, thank you very much. >>> a big victory in the courts for supporters of same-sex marriage. a federa

mike santoli associate editor for "barron's" magazine. welcome to you both. mike, what does it mean for our money. >> bottom line, it doesn't change very much in the average person's deposits loans, things like that. it means a recognition, by the way this was months in coming, we were sort of expecting this. a recognition that that economic conditions and regulatory conditions have worked against banks. they're going to be less profitable. they may have higher borrowing costs. it might be one more thing a bit of a headwind to the economy. i don't think though a real big surprise or a big change in behavior just in the short term for the banks. jenna: charlies is our financial system safe? >> that's one of those very loaded questions. i can't tell you what is going to happen in europe. part of this is a reaction what is going in europe. we know all the banks have deals with european banks. they underwrite insurance policies on bank debt over there. so this could be foretelling something bad if europe, if the financial crisis in europe doesn't stop i will disa