plus bb & t got a great loss sharing deal with the fdic, one that works out to be heads bb & t wins, tails, the fdic loses. and before it takes the colonial loan portfolio, remember, it's not possibly the fraudulent part, that goes to the fdic, it has marked down the loan book by 7%, meaning they expect the percentage of loans to go bad, that's twice the number of bad loans that the other deals from the fdic have taken and they are thinking about buying down, jpmorgan getting washington mutual and getting into a little bit the washington mutual is a little bit less. get this, they're assuming up front that 67% of the construction loan, 67% are going to go bad. as long as the overall default rate stays under 37 and the construction loan default stays under 67, it's going to be a breeze for both. and bb & t should see enormous upside. the best part after this deal is done, bb & t's estimates, what it's going to earn go higher. that's something called accretion. it's accretiaccretive. there's no better way to get your stock price up than increasing your earnings per share. >> all aboard

focus on annoy, bb&t. it's time for the responsible lenders to reap the rewards they so richly deserve. after the break, i'll try to make you even more money. >>> coming up, with sales of retailers slumping, cramer's got a stock that could have you dressed for success. >>> and later, the time has come for cramer to guide you through the market's ups and downs. stock after stock on the lightning round. >>> plus cramer checks his inbox on an all new mad mail coming up on "mad money." this friday, you don't have to wait until midnight for the madness to start. scratch cramer at 11:00 every night of the week. take a double dose of "mad money" 6:00 and 11:00 eastern. some people buy a car based on the deal they get. others by the car of their dreams. during the lexus golden opportunity sales event, you can do both. special lease offers now available on the 2009 is 250. well, get on out of that department store. and into covergirl outlast. no department store longwear gives you so many different ways to last thr

bb&t taking on its 22 billion in assets as well as deposits and branches. the fdic will handle the rest. most of colonial's customers should be okay. >>> cash for clunkers is causing a cash flow problems for auto dealers. they say the federal government hasn't reimbursed them for their trade-in deals and put them in a cash crunch. some rebate requests submitted nearly three weeks ago haven't been paid yet. that lag time may cause dealers to opt-out of the program. meanwhile, ford motor company says carb for clunkers created such demand it had to boost production at three of its plants. >>> the trial of drew peterson expected to get under way. the judge heard motions about whether peterson's trial should be moved to another venue. >> if we can't pick a fair jury in will cocoununty, it's the government's job to pick a venue. >> the judge is proceeding under the assumption that the trial won't be moved to another county. so far no trial date has been set. peterson is charged with murder in the death of his third wife and a suspect in the disappearance of his f

it's a good transactions for fdic and bb&t. >> over the weekend kelly talked about the bb&t, worriedeasury or raise assessments on banks. should we be worried about how much they have left in their powder keg to take care of more bank failures, which are undoubtedly coming down the line? >> i think we do need to be worried. i do not think $13 billion will be enough. now, some of the larger ones, they have already dealt with, have substantially depleted the fund. but many of the smaller ones that are yet to come won't have much of an impact. but i personally don't think they will have enough. there are at least three ways they can go about it. one is they can raise charges to the bank, which has been done once. they can access funds from the congress, which they have available. the what i personally prefer is for the assets to accumulate in the fdic, to resurrect what's called the old rtc, resolution trust corporation, and finance it with fico bonds. this is what we did in the '80s when the s&l crisis occurred. the fdic had to accumulate billions of assets of bad loans. they simply he

bb and t successfully had a secondary and they priced it right where they closed. they will have a big add to the s&p at the close. there will be a lot of people around and financials are up on that news and of course on that master trust data positive yesterday. >> at the high of the session, / rick, as you take it./ >> t bill auctions are only fun during the real crisis months./ the 12 1/2 basis points to yiel/ of the 32 billion one-month bills was a two-month low yield. i still find it fascinating how much interest is coming back at a time where we all expect as bob said a correction. why hasn't it occurred? it's counter trend tuesday. the other thing we are looking at is yields in general and how they are so correlated with respect to what's going on on the equity side. when they come back up and price yields go up. and you saw it play out yesterday. the markets are waiting for supply next week and huge end of the month buying adjustments. speak ultors play that game early. >> matt nesto. how is the nasdaq. >> we have been zigzagging around and got a burst. w

and bb&t not commenting on it either.the mortgage sector. colonial bank which by the way has 355 branches across the south is on the brink of collapse. the judge froze assets in a bank of america dispute with about $1 billion in assets of mortgage assets. its mortgage lending and accounting practices, tony, also right now under federal criminal investigation for the past few weeks. it's also one of two banks that was raided earlier this month by federal agents. a lot of questions about the health of this bank and what will happen to it. >> well, poppy, if colonial collapses, how big of a bank failure are we talking about here? >> you're very good on say "if" because it has not been taken over yet. if it were to fail, it would be sizable, 355 branches across the south. about $25 billion in assets. and if it doesn't survive, it would actually, tony, be the biggest bank failure so far this year. we have a graphic. take a look there from washington mutual which happened last year, at the top there, all the way down to america

bb & t bought a bank group. it's the largest bank failure so far this year. they are buying $22 billion in assets as well as the deposits and franchises. fdic will handle the rest. fdic guarantees bank balances up to $250,000. >>> cash for clunkers is causing a cash flow for auto dealers. the government hasn't reimbursed them. rebate requests from three weeks ago hasn't been repaid. ford says they had to boost production of three of their plants. >>> doesn't everybody want to save more and spend less? we have just the guy to help you. you can join clark howard at 4:00 p.m. he'll help you save more and spend less. it's 4:00 here on hln. >>> an alligator got into a tug of war with kids in st. petersburg, florida. their rope ended up around the gators mouth. a mail carrier called 911. a cop cut the rope and it got away. >> it's probably 275 to 300 pounds. you get a kid in a tug of war, the alligator is not going to lose. there's a lot of potential there. we're lucky this is where it stopped. they were able to stop the gator because the rope was wrapped around it

bb&t along with the rest of the financials are leading the market to the upside today. we've got the master trust out of yesterday for jpmorgan, bank of america and american express indicating in general that delinquencies are at least stabilizing or moving in the right direction. finally, let's play hmo ping-pong. remember yesterday, they got killed on concerns that the public -- rose on concerns that the public option would now be out of the whole health care plan. today, the democrats some liberal democrats are fighting back saying they want it in. hmos to the down side. trader talk.cnbc.com. matt, the nasdaq. >> we're going to be playing times squares beer pong. we mentioned technologies very strong today, four to one positive or 80% of the nasdaq trading higher today were surging in towards a close close to our high level of the session. look down here. what the heck is going on with google? nothing. just sitting there. that's not a good sign. apple scott mentioned the upgrade from rbc first thing this morning. apple rim all with the price target substantially in s

bb & t shares tonight down 6%. according to an s.e.c. filing, william ashman's pershing square capital management has sold its entire stake in wendy's arby's group. as of the end of march. pershing square was the fast food chain's third largest institutional shareholder, owning 32 million shares, about 7% of the outstanding stock. the stock today down 1 1/3%, as you can see. >>> language education software maker rosetta stone had a great ipo, remember. it cut its third quarter and full-year earnings forecasts today due to higher than expected operating expenses. the company also cancelled a proposed stock offering just a week after announcing it. rosetta stone shares tonight down nearly 30%. up next, we're discussing whether we'll see a u, a v, or a w-shaped recovery. what will that recovery look like? what will 2010 look like? we're going to check it out. then consumer spending has been one of the real drags on the economy, even as other areas show an improvement. take the pulse of the consumer as we approach two important times of the

when the branches open tomorrow, deposits will be with bb &t. colonial customers can keep using the same atm's and make loan payments and they have done before. shepard: this failure could really impact the housing market. it is a little complex. colonial is a "warehouse lender." that means it gives a short term loans to independent bankers who then provide loans for homeowners. colonial is the last major financial company providing the service. >> colonial's failure is the continuing fallout from that mortgage investment. the recession hurt the market. mortgage lending is further tightening in makes it difficult for people looking to buy a home. >shepard: she was convicted of trying to assassinate a former united states president. tonight, she is out. why officials cut short the sentence of a former charles manson follower. we will give you the details coming up. [ male announcer ] colorful, original. that's outlast lipstain from covergirl. light as air lipwear that does what a lipstick can't. it's never sticky cuz it's a stain. and it won't le

customer then hands the teller a handwritenot n demanding accusk ofcari ancra bhs in clinton ra d a bb and t bank in forestville. he didn't appear to be armed. >>> hurricane bill made landfall on canada's east coast striking nova scotia and newfoundland. bill rolled big waves on to shore there. boats in halifax harbor had to be secured. no major reports of damage. for more on hurricane bill let's head up to the storm center and check in with chuck bell. >> here's the latest satellite picture over the last 12 hours. there you can see the very distinctive storm churning its way across the eastern extent of nova scotia, heading up to newfoundland. the radar shows the heaviest of rains have left most of the halifax area and some unrelated showers across new york and new england. 300 miles eastern of the eastern most tip of the great state of maine moving to the northeast at 30 miles per hour, winds down to 75 miles per hour now. this storm will lose it's tropical characteristics as it goes over the very cold atlantic. by wednesday it will rain in ireland as a result. >>> we'll check in wit

reasleasn arimema an ldcan ame in mhe.yanm ngriis h vit h the virginia crdeecitat bdee thate first senr bb poaweetls w mith opsiti leader, the 64 malea dn,wo 64-year-old woman, detaine f oro the last most of themyend u ermostf them under houndre. weelea rseth o release of thf aner .he s sentenced to seven years ha srdab foror swimming to the detainee's lake side house and staying inside two days. >>> suicide bomb rocked the afghan capital killing seven injuring 100. the car bomber struck near the front gate of the kabul headquarters. the explosion happened in a heavily guarded diplomatic area of the city and comes less than a week before afghanistan's presidential election. it seems as if the explosion is aimed at scaring off voters there. the spokesman has claimed responsibility for the attack. >>> police in prince george's county are searching for a suspect who fired an ofyfd ut lipo itthieorsaynuerimeterve a ienuu itors sayof tuty charles cntoufdofolyy charless ntisinic v hheleehn w hin vehicle when the hi ott. ericev nas hhi owt. eid sh ting mhtig shooting might be the result of an ong

we called bb & t bank, the area's biggest small business lender, and asked them why.'s credit score doesn't match his confidence. a spokeswoman for bb & t, who recently paid back its own $3 billion bailout said, we would have turned him down based on his credit history. redferne admits to bumps in the road that have dinged his credit. this is the new world of lending. >> wonders are return to the old-fashioned london standards, they are making loans with the expectation that all of them are going to be repaid. >> reporter: that means making fewer loans it only the best applicants. even small business owners like redferne, who had no trouble borrowing money in the past, are being turned away. >> we sort of ended up in a chicken and egg situation where the banks don't want to make loans because the small section as a whole have been having so much trouble but small sectors cannot get the financing they need to expand. >> reporter: the number of new small business loans is less than half of what it was before the recession but the stimulus has helped. the amount of money

oo pc.comews, and wated the world unfold go to bb .com. >> eibyan convicted of blowing up an americanirliner over ckerbie in over 20 ars ago now free froma scottish prisonand he haseen welcomed as a hero in tripoli. mlions ofafghans have cast their votes despite taliban attempts to wrec the elecons. well, as afghans voted for president,here was sporadic violence acrosthe country. in helmand rovince, the governor's convoy camunder attack as he went to pollin stion in the provincial capital. our reporter was pt of that nvoy. >> it is 7:00 a.m andthe lls have just opened. we are with the governor helman provinc as he gs to te, and then, suddenly, this outside. makeshift bomb eloding as a convoy of journalists om the west drove past. later, insurgent rocketsearby. >> [speaking foreign lauage] >> [saking foreign language] >> it is the first explosn we have heard this morng just as the helmand vernor was onhis way to t polling station. >> momentsater, another roet and the distance, and a clear warning from the liban to vots to stay home. >> that was another explosion. we were trying to get

the expanneded service should bb hoo fotrs fupe.r aw16th pes for awful its underground stations to have wireless coverage by year 2012. >>> still to come, an unoven turns on when no one is home. a cull pretty, ringing cell phone. now concern this may bow a widespread problem. >>> first lady of south carolina talking about moving out whether she plans to move on. >>> bob is back with details of stormy days ahead. >>> michael jackson's doctor proclaimed his innocence. and thanked supporters during what he calls a difficult time. >> i have done all i could to. i told the truth. and i have faith that the truth will prevail. >> he has been at the center of michael jackson's death investigation. police wnot ktow kswac jwon got an anesthetic normally reserved for hospital use. >>> michael jackson will be laid to rest on what would have been his 51st birthday. the family spokesperson says, jackson will be buried august 29th, at forest lawn cemetery in glendale, california. jackson's body will lie inside the cemetery's great mausoleum known for its elaborate art work. >>> recipe for disaster. wh

its assets were taken over by regulators and subsequently sold to bb and t corp.ure of the montgomery, alabama, based regional bank was the fifth biggest in u.s. history with $20 billion in assets. colonial operated 346 branches across georgia, nevada, alabama, texas, and florida. >>> at the box office, the action and alien packed "district 9" took the number one spot with $36 million its opening weekend. that's already more than the $30 million it cost to make. ""gi joe: the rise of cobra" got bumped to number two. "and the time traveler's wife" baseded on the best-selling novel, debuted in third with $13 million. >>> and as he began the pro football comeback, michael vick told "60 minutes" he's disgusted with himself. in the first interview since his 18-month prison sentence for running a dogfighting ring. vick says he let down his family, his fans, and himself. >> not being on a football field, being in a prison bed, a prison bunk, writing letters home, that wasn't my life. that wasn't the way that things were supposed to be. and all because of the so-called co

go to abc2news.com/bb. back to you. >>> 6:30. it's where you bring out of town company. it's where baltimore shows off how good it is but today you have to wonder what is happening at the inner harbor. abc2 news linda so with a scary saturday night. >> reporter: it's always a scary thing to hear about any kind of violence at the inner harbor but this time it's really got people thinking. after shots rang out in a busy landmark. two people were shot in the light street pavilion near phillips seafood restaurant after 10:00 saturday night. a 20-year-old man shot in the leg, a teenaged boy shot in the arm. "the baltimore sun" reports both victims are suspected members of the pludz gang. police say the -- bloods gang. police say the shooting rang out between members of two gangs. the police commissioner and mayor are calling for a more aggressive crackdown against gang violence at the harbor. some say despite the crime they will keep coming back. >> i will come back. i like it here. >> it won't change my, i guess, opinion about the inner harbor. we would still come back. >> r

. >> 200 specialists to spot and defuse the bbs areeing sent out is autn. d the crucialunnned surveiance drones will also have their flying hours incrsed. british commders are waiting for the report from stanley mcchrystal, the st seor u.s. general here, before deciding actly how many more me and women to commit toafghanistan. it begs the estion, if the 65,000 international tops are here cannot sure this country, will afew thousand reinforcements make much difference? ris shipp, itv news, afghanistan. > and joining us now is kan von hiple. she's a senior fellow with the internatiol security program at the cter for strategicnd internatnal studies in washgton, d.c. karen, you just got back fm helping monitor the election situation in afghanistan. how did the security siation affect thevote? >> it affected the vte in traordinary ways. firsof all just as monitors w were n able to visit mo parts of the country. i was withhe national decratic institute for internional affair delegation we were in only 19 of 34 provinces. we weren't able toonitor everywhere and w

bb & t shares trading higher on the day by almost 10%. tenet health care upgraded to outperform from neutral by robert baird on the potential for the hospital operator to keep reporting bet yes than xpd earnings driven by growth initiatives and cost cutting. the firm also raising its price target to $6 from $5. taking a look at that stock, it is also charging higher on the day, up about 8%. >>> and 2-d and 3-d design software maker autodesk reporting an 88% plun ng chblg in second quarter profit because of a drop in sales. excluding restructuring charges that beat wall street's estimates. the company also forecasting third quarter earnings in line with analysts' expectations. and that stock trading up as a result up about 5% almost. many americans expressing real fear about president obama's health care reforms but will the growing anger over health care end up killing the bill or can it still get through congress? some answers in a moment. >>> and new concerns about deflation being raised by the cpi report. coming up we'll discuss whethe

i like bb&t here. >> united health care was up 6%. careen? >> i should have seen it coming. did. with congress out of session and the less fear of the obama administration doing health care reform. up for hmos not surprising. >> a big pop for cheese, pawrm sawn. the regional bank is accepting pawrm sa parmesan as controls. they hold 1,000 wheels of cheese worth $187 million. >> i may have to take delivery on that. >> well, do you know what's interesting -- >> a grilled cheese sandwich. >> a thief actually broke into one of the holding warehouses and they caught the thief. and do you know what the bank said? we caught the thief just in time before they started grating the cheese. >> that's securitization. >> exactly. >>> it's the moment you've all been waiting for. the options action traders invade "fast money." tv history in the making. don't miss it. imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happe

i like bb&t here. >> got a pop here for you. united healthcare on the week up 6%. karen?ngress out of session and the less fear of the obama administration doing some healthcare reform, up for the hmos, not so surprising. >> a big pop for cheese, of the parmesan variety. according to bloomberg report, regional bank is accepting parmesan as collateral for loans. they hold 44,000 wheels of cheese worth $187 million. >> what if they have to take delivery on that? >> well, do you know what's interesting -- >> a grilled cheese sandwich. >> a thief actually broke into one of the holding warehouses and they caught the thief. and do you know what the bank said? we caught the thief just in time before they started grating the cheese. >> that's securitization. >> exactly. >>> it's the moment you've all been waiting for. the options action traders invade "fast money." tv history in the making. don't miss it. >>> welcome back to "fast money," we're live at the nasdaq market site in new york city's times square.. yes, that was a big pile of chairs you see on the corner of your screen.

across the ci there have been at lea six bb and mortar attacks. hospitals have been inun and the latt information suggests that at lst 75 people haveeen killed and more than 300 injured. >> after carl dinnen file that report the death to in baghdad rose agin. it's now said that at least 95 peopleere killed. seral hundred were wounded in today's attacks. >>> nowo afghanistan, wher 41 candidates icluding the incumbent, hamid karzai, a viagare if theresidency in elections now lss than 24 hours away the taliban contues to do all it can to make its presence felt on the e of voting. in kabul militants with ak-47 and nd grenades took over a bank and exchaed gunfire with policeefore beingkilled. the taliban claimed today that 20 armed suici bomber wearing explosive vests are now in kabul. >>> as we've be reporting, the united states isstepping up efforts to improve securityn afghistan. there are now 62,000merican oops in that cntry andhree more werkilled there tay. morehan 160 americans have died so far this year whi has us wondering, what will be the mea

but the bank will reopen tomorrow and will be taken over by bb and t bank. one more note about the economy, the recession andler energy costs are keeping a lid on prices. the government reported today that consumer prices did not budge in july, and over the past 12 months they're down 2.1%, that's the biggest annual drop in nearly six decades. turning to the continuing battle over health care reform now, president obama headed west today to big sky country to once again moderate his own town meeting. one of his goals, to win over some blue dog or conservative democrats, skeptical of his plans. chip reid is traveling with the president tonight in belgrade, montana. >> reporter: the president's critics predicted that at today's town hall in conservative montana he would finally see face to face the rage over health care reform. >> hello, montana! >> reporter: it was clear from the start though this crowd was on his side. >> if we can get it done this year, the american people are going to be better off. thank you, montana. >> reporter: the questions were mostl

the remote controlled bb went off on a crowded street near a fruit mark and appareny tgeted the police chief ase drove into town. th official was in citical condition. >>> this month has also gotten off to a deadly start for american and nato forcesn ghanistan. with t total of nine killed over t weekend, they include six americans, o canadians and one french soldi. >>> wi afghanistan's elections less than three weeks ay and the number of reign troops that country increasing steadily we trn again to karin von hiel. for some analysis. she jos us fom washington. nice to have yo bac >> thank you. >> we had a cord number of sualties last monthnd august is already a bad sfarpt why are so many more roops dying, and h there been exchan in the mission that causes this >> unengineer i think this was anticipad, not on is the summer of the fiting season in afghanistan,ut also of course we deployed-- or starting to deploy an addition 21,000 u.s. tros. the european, another nato alliesare bringg in extra troops for serity for the elections. and so on the military leadership side, they anticipated re

police later learned they were using bb guns. after tear gassing the home after arrested 26-year-old cecil bailey of northeast baltimore. the other suspect remains at large. >>> a woman who admitted starving her child to death will soon get out of jail. ria ramkissen pled guilty to the crimes saying she was part of a religious cult and the cult starved her 1-year-old because he was not say amen after he ate. ramkissen will then go to a maryland farming community to receive counseling. she will testify against four other cult members who are charged in the little boy's death. >>> new developments as we see disturbing video of a shooting last month that hospitalized a 5-year-old girl. on july 2nd police say 17-year-old lamont davis was shooting at another man in pulaski street in west baltimore when 5-year-old raven wyatt was caught in the crossfire. >> and davis pleaded not guilty to charges of attempted murder. brian cubler explains why his public defender believes that video might actually help this case. >> reporter: as the cam

go to abc2news.com/b bb. >>> the state's $4 million budget cut hits home for a local family. the gapps of columbia have four lively kids, the oldest, 9-year-old jessica and 8-year-old johnny, both have autism. their father unemployed. for several years the family has been getting money from the arc. the rolling access program to help with school supplies, security and day care. but the organization that works with the developmentally disabled is facing a million-dollar cut from the program. >> sometimes we don't have much to do -- any income to buy things. they are there to help us. >> the rolling access is a way to help people that are still waiting for ongoing services and to have this cut is going to be tremendous loss. >> directors say that the reduction affects 1,000 families across the state. the cut is scheduled to take effect on october 1st. >>> 6:19. hard to get up in the morning and run, what, two miles in this heat? >> we're going to introduce you you to a man running four mara thobs this week. >> this week? >> you like wine? >> yes. >> the wine you drink could tel

will, political does both the president now having threatened a veto and succeeded and gates having bb the architect of this, get in the next planning rounds forward on defense? >> that is a very interesting question because we have reason to believe that secretary gates will only be there for one more budget round. that is what he seems to be signaling to the reporters he's with. he has to get something done with the dwchlt r and the next budget to reorient things. he doesn't know who will follow him. >> some folks were looking at the qdr and saying this is a more closed review than we have. normally you have leaks. there are absolutely no leaks coming out or very few leaks coming out of it. second is that qdr is done without a strategy. are those fair criticisms? >> because we have a defense secretary held over from the last time around he has a much clearer idea of what he wants to get done. we're not starting from scratch here. you can skip some of those steps. the real thing they don't have is visibility into the availability of funding two or three years from that. without some c

police later learned they were using bb guns and after tear gassing the home they arrested 26-year-old cecil bailey of northeast baltimore. the other suspect is still out there. >>> maryland state police hope a newly released sketch will help them identify a murdered woman whose remains were found in carroll county in march. police say the victim is a white woman, late teens or early 20s with a petite build. remains found in an overgrown area behind a manufacturing company on baltimore boulevard in westminster. if you recognize her or have details on this case you can contact state police at 410-386-3029. >>> 6:49. senator ben cardin will hold another town hall discussion on health care today, this time in hagerstown. yesterday fellow democrat arlen specter had a difficult time of it in pennsylvania. >> one day god is going to stand before you and he's going to judge you and the rest of your cronies up on the hill! >> tempers flaring there. senator cardin faced hundreds of opponents of the president's health care reform plan this past monday night in towson. he was interrupted by boos

log on to abc2news.com/bb. back to you. >>> here he is, certified financial planner dale horn. the first question is from ed. he wants to know if i turn 70 1/2 this year and there are no required distributions for my ira when do i have to take the money out? also, are charitable donations still allowed for 2009? thanks, love ed. >> this is a simple answer, complicated explanation. the answer first. the answer is if you're turning 70 1/2 in this year, 2009, you have until the end of 2010 to take your first distribution. what is happening, an act was passed the ends of 2008, on december 23rd that enabled people who have ira's and over the age of 70 1/2 to not have to take out their mandatory distribution. when you turn 70 1/2 in a normal year you have to take money out. it's suspended this year so people can keep it in, let it grow and there are complicated measures just in the fact that if you're turning 70 1/2 in a year like this, not knowing whether you have to normally take it by april 1st -- forget all that, just remember, you don't have to take it until the ends of 2010. se

we called bb&t bank, the area's biggest small business lender and asked them why.turns out redfern's credit score doesn't match his confidence. a spokeswoman for bb&t who recently paid back its own $3 billion bailout said we would have turned him down based on his credit history. redfern admits to bumps in the road that have dinged his credit. this is the new world of lending. >> lenders have returned to the old-fashioned lending standards, you know. they're making loans with the expectation that all of them are going to be repaid. >> reporter: that means making fewer loans to only the best applicants, even small business owners like redfern, who have had no trouble borrowing money in the past are being turned away. >> we sort of ended up in this chicken and egg situation where the banks don't want to make the loans, but then small business owners can't get the financing they need to run their businesses normally to expand. >> reporter: the number of two small business loans is less than half what it was before the recession, but the stimulus has helped. the amount

little did the victims know that the robbers were holding bb guns as they boldly chased them as theyled. back at william doerfler's house, his son says cecil bailey may have been fortunate, even though he ended up in handcuffs. >> he was going to shoot him. but he didn't. he had the opportunity, but didn't do it. gun was in the bedroom. he was in the bedroom. >> reporter: doerfler says even for a 93-year-old world war ii veteran, he couldn't have missed at point-blank range. in northeast baltimore abc 2 news. >> cecil bailey, the suspect is being held at central boobing on armed robbery, assault, and false imprisonment. >>> now to a yard sale that was red hot in anne arundel county. a severn man is charged tonight with burglarizing a neighbor's home, and then selling the stolen goods at a yard sale. the homeowner tells us tonight she was driving down reece road with her daughter when she saw her stuff sitting on someone else's lawn. >> turned around, and sure enough, everything was mine. probably three or four things were not. the tables weren't, you know. but everything they were se

its deposits and branches will be taken over by north carolina, bb & t. colonial had $25 billion in assets making it the fifst biggest bank failure in u.s. history. expected to cost the fdic fund $2.# billion. >>> the labor department said today consumer prices are falling this year at the fastest pace in 59 years. the consumer price index down 2.1% in july from a year ago, the sharpest 12 month drop since 1950. >>> on wall street today, stocks lost ground. closed well off the lows of the day. the dow finishing down under 77 points. >>> when "nightly news" continues on this friday evening, are scientists getting closer to unlocking the secret of how much sleep we actually need? >>> later, making a difference, a team effort to help young people facing an uphill battle to get an education. r-linking, blind-spot-penetrating side mirrors of the all-new ford taurus. so what doesn't show up in your mirror, can still show up on your mirror. we speak car. we speak innovation. introducing the all-new taurus from ford. drive one. gathering dust, as pollen floats th

it is gibson of bb king. the old guitars. which immediates to us mike and the sign behind him. we talked about it many times. take it away. >> good morning to you. you can hear the sound. that's a paul reid smith guy tar. this is played by the local bright side and the reason why we're here is because the man who built that guitar was inspired by the mans who name is on that guitar, a genuine authentic les paul. we'll talk to him when we return on eyewitness news. >>> welcome back, this is what we were talking about. a gorgeous morning and day. i want to go to radar. notice the control room. it does not tell you the story. it is 100% humidity. let's go to doppler radar. that's what you are looking at. the very western wall of the energy that took its time passing through the area. during the night and overnight take a look at the current conditions. that's moving on off to the east. more will fire up later. 72 temperature and 100% humidity. barometer is 29 alove this weather. bugs have a problem. any kind of a breeze and man they take to the sky. 29.98 and steady at the baromet

we called bb&t bank, the area's biggest small business lender and asked why. turns out redfern's credit score doesn't match his confidence. a spokeswoman who recently paid back its own $3 billion bailout said we would have turned him down based on his credit history. redfern admits to bumps in the road that dinged his credit. this is the new world of lending. >> lenders have returned to the old-fashioned lending standards. they are making loans with the expectation that all of them are going to be repaid. >> reporter: that means making fewer loans to only the best applicants, even small business owners like redfern who had no trouble borrowing money in the past are being turned away. >> the banks don't want to make those loans, but the small business sector as a whole has been having such trouble. but then they can't get the financing they need to run their businesses normally to expand. >> reporter: the number of new small business loans is less than half what it was before the recession. the stimulus has helped. the amount of money loaned through sba's progr

the auction comes after the fdic shut down alabama's colonial bank on friday, selling assets to bb&t, the sixth largest bank failure in history. regulators hope three banks that made offers for colonial, jp. morgan and spain's bbva will hopefully today get in on the bidding for guarantee. christine? >> still to come on the show, the plot thickens in the ubs tax case as the investigation widens into hong kong. we'll bring you details as part of the global stock watch right after this break. >>> thanks for staying with us on the show. you're watching "worldwide exchange." we are going to take a look around the global markets now. starting right here in the u.k. with the ftse 100, continuing to lose ground. overall down eight to seven points, 1.9%. let's look at some of the biggest losers on the u.k. markets today. the basic resources stocks tend to have been hit quite hard, xstrata and anglo american, some of the biggest decliners. we have pretty decent earnings also in that sector. the market shrugged off decent outlooks from these companies and pushing stocks lower on concerns about t

he seemed to bb rating someone at one of them. -- she seemed to bhe be beratin himself. greta: up next, call rove thinks that the democrats are scared. also, lee talks who need assistance getting around their homes. there is a medicare benefit that may qualify you for a new power chair or scooter at little or no cost to you. imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen ... your power chair will be paid in full. the scooter store. hi i'm doug harrison. we're experts at getting you the power chair or scooter you need. in fact, if we qualify you for medicare reimbursement and medicare denies your claim, we'll give you your new power chair or scooter free. i didn't pay a penny out of pocket for my power chair. with help from the scooter store, medicare and my insurance covered it all. call the scooter store for free information today. greta: more with karl rove. how about the recent numbers?

. >> the bank was taken over by fellow lender bb &t.ssets of $45 million and debt the over a 3 million. -- over 83 million. this is the biggest bank to be seized by regulators since the collapse of another one last year. home prices are boosting optimism and there are thoughts that the recession may be ending. one drag maker may make an offer to buy another company -- one drugmaker, glaxoklinesmith may make an offer to buy another company. i am reporting for wbal tv 11 news. >> a california judge has sentenced chris brown five years of probation and some volunteers service along with counseling for his views on former girlfriend rihanna. there were previously reported incidences between the couple. any violation of his agreement could send him to state prison. actress melanie griffith has checked into a rehab center. it is part of a routine plan devised by her and her doctors several years ago. she released a statement in 2000 that she was seeking treatment for breast revocation addiction she was taken for a neck injury. >> another chec

he seemed to bb rating someone at one of them. -- she seemed to bhe seemed to himself. greta: up next, call rove thinks that the democrats are scared. also, sheila jackson lee talks to a cell phone while someone is asking her question. -- karl rove thinks that democrats are scared. hñí quality and reliability... are more than words here. it's personal. i have diabetes. rodney's kid too. so we're so proud to manufacture... the accu-chek® aviva meters and test strips... here in the u.s.a. plus, we've proven you'll waste 50% fewer strips... when you use our meter, which means greater savings... for people with diabetes, like me. now that's a true american value. accu-chek® aviva. born in the u.s.a. greta: more with karl rove. how about the recent numbers? >> it is interesting, the people who are independent and they looked sort of like democrats when it came to supporting obama overall, it looked like democrats when it came to supporting what they knew about the health care plan, they have moved dramatically in the opposite direction and they are looking more like re

the bank which has 346 branchs, most across the southeast will be bought by bb & t. the largest bank failure of the year, six largest in u.s. history. >>> eunice kennedy shriver honored today. her daughter maria shriver offering the eulogy. >> mommy was our hero. she was scary smart and not afraid to show it. she was tough but also compassionate. driven, but also really fun and funny. competitive, but also empathetic, restless and patient, curious and prayerful, she liked to hang with the guys but all her heroes except for her brother jack, were women. she had a husband who was totally devoted to her in every sense of that word. a man who marvelled at everything she said and everything she did. he didn't mind if her hair was a mess f she walked around in a wet bathing suit, if she beat him at tennis or challenged his ideas. he let her rip and he let her roar and he loved everything about her. add that to five kids who adored her and loved to be with her and you have the ultimate role model. mommy was all of our best friends and it was an honor for all of us to be her

bb gluden in europe comes with a halter-type thing for the little girls to wear and when the doll is pressed against sun flowers that act like nipples the baby makes a suckaling sound and then cries until burped. some parents are concerned. they say it's just too much, too soon for kids. and that brings us to our water cooler question of the day, do you think a doll that teaches children about breast feeding is too much, too soon? you can email your response to watercooler@wbaltv.com. >> time is now 6:11. it's 58 degrees on tv hill. we lost a degree. how about that? >> coming up, will parents hit hard to the economy be able to look forward to a tax-free day of back to school shopping? the answer when we return. >> and $7 for a bottle of beer knows how expense i it can be to eat at sports stadiums but dallas cowboy fans thereof dig deeper. why everything is bigger in texas including price tags. >> and three women killed at random by a gunman. that story. >> and a sunny friday with cooler than normal temperatures. stay tuned for your weather coming up. >> and you've got a couple new in

we also learned today that the suspect was armed with a bb gun, not a gun that possibly could have killed someone. but they're searching for a second suspect. back to you on tv hill from gardenville. >> okay, suzanne. thank you. >>> it's been another very warm and humid day out today. some are taking the day to enjoy a snowball. can we expect the warm temps to stick around? we have complete coverage. >> i was actually 6 degrees cooler than yesterday. we have a severe thunderstorm warning for the next 15 minutes, actually in york county. heavy rain with that one cell up there, as much as 1 to 2 inches reported in some spots. just now moving to the west of glen rock, into northern carroll and northern baltimore county. the other cell, just to the north of gettysburg. we have a couple of cells there that may be affecting northern maryland in the very near future. particular morn northern carroll, northern baltimore and northern harford county. as we move out to the east, around 20 miles an hour. that's when this went off to the southeast. maybe affecting you folks in western frederick county

bb and t. successfully completed a secondary, 3.4 million shares and $46. just below yesterday. this was the second time this year. they were able to raise $1.5 billion and repaid t.a.r.p. money and bought colonial bank. the credit card delink wensy that came out yesterday is generally better. all the big names that bank of america is trading to the upside. where is the sell off? tradertalk.cnbc.com. >> close to the best level of the session and we recovered about 40% of the loss that we posted yesterday. the big gainers in the market place, the apple is still buying in so says the analyst at rbc and apple and palm. having their targets raised as well. the retailers and the nasdaq strong and includes sears holding and urban outfitters. he was a pick featured last night and as well. the heavy truck maker strong here as well. goldman sachs no longer a sell and neutral-rate and a backhanded compliment. they pack shares moving higher. pointed out huron consulting is up 35, almost 40%. amazingly it is doing as much volume. this is the company like intel. let's get out to rick santell

bb & t is also a big mortgage lender. 355 branches across the south is on the brink of collapse. no confirmation from the fdic. the judge froze assets in a dispute that colonial had with bank of america. this is the latest trouble for colonial. it's mortgage lending and accounting practices are under federal investigation. it is one of two banks raided earlier this month by federal agents. today, people questioning the health of this bank and will or won't it be taken over by regulators? >> if colonial collapses, how big a failure are we talking about? >> pretty big. you have branches in alabama, florida, georgia, nevada, and texas. about $25 billion in assets there. if it does not survive, it would be the sixth largest bank failure in u.s. history. you see the largest five on your screen in front of you. it also, clearly, kyra, would be the biggest failure this year. you need to know you are protected by the fdic in terms of savings. >> what do customers need to know exactly? >> first of all, don't panic. we talk about t

wall street journal says bb&t has reached an agreement to buy the deposits and branches of colonial bank corps. and atlantic city's resort casino will hand over control to its lenders after being unable to make loan payments. the current owners will stay on as managers of the operation. they still need approval from the regulators. that's cnbc.com news now. i'm courtney reagan. >>> oh, larry. larry, larry, larry. >> we love him, don't we? >> we do love larry kudlow. we are proud to follow him. welcome to "power lunch" for a friday, i'm bill griffith. stocks sinking fast today so far as investors try to figure out the mixed messages we have been getting on the economy lately. almost all of the dow stocks trading lower, in fact near the lows of the session right now. so don't go anywhere. we're going to put it all in perspective for you here today on "power lunch." >> i'm michelle cabrusso-cabrera. one of the questions on investors mupds have sdox gone too far, too fast? >> and i'm steve liesman. consumer sentiment lower than expected as consumers not up beat by the low inflation numbers t

police later learned that they were using bb guns. after teargassing william doerfler's home, they arrested a man and the other suspect got away and still has not been caught. >>> latest developments on a shooting last month that put a five-year-old girl in the hospital. on july 2nd, police say that 17- year-old lamont davis was shooting at a another man and five-year-old raven wyatt got caught in the crossfire. this is why his public defender believes that surveillance video might help his case. >> reporter: as the camera swiff develops automatically, it pauses long enough to document what little regard for life there sometimes is on the streets of baltimore. watch as the bun man comes in and begins firing at a another man repeatedly and then you see the gunman dart down the street and into an alley. as the camera readjusts it settles on witnesses running down the street to assist a child that was struck. the body that you see in the road is five-year-old raven wyatt. she was struck once in the head caught in the crossfire. the camer

we called bb & t banks the largest area lender and it turns out redfern's credit score doesn't match a spokesperson for the bank who recently paid back its own bail out said we have turned him down based to his credit history. he admits to bumps in the road that dinged his credit. this is the new world of lending. >> lenders are returning to the old financial lending standards. you know, they're making loans with the expectation that all of them are going to be repaid. >> reporter: that means making fewer loans to only the best applicants even small business owners like redfern who have had no trouble borrowing money in the past are being turned away. >> we've sort of ended up in the chicken and egg situation where the banks don't want to make the loans because the small business sector as a whole is having such trouble but then small business owners can't get financing they need to run their businesses normally to expand. >> reporter: the number of new small business loans is less than half what it was before the recession but the stimulus has helped. the amount of money loaned thro