summer's $4 gas and $140-barrel oil though that is essentially what a government report is expected to reveal. ben stein has been looking at this and says that the real hoax, this proves the white house's green agenda is based essentially on a lie. explain. >> it's based on a major fiction. though supposedly the gasoline price hike skyrocketing and oil price skyrocketing last year was because they're having a fundamental shortage of industry and would make us switch to wind, solar, nuclear power, that was all a fraud. it was so speculators -- they did this complicated thing where they manipulated the price of natural gas and that, in turn, affected the oil futures. they pushed it up sky high. they made all of us suckers believe we were running out of oil, $300 oil, $400 oil so we had to switch to alternative forms of energy. that was a fraud. it was the speculators making money off us and ruining our lives. there's no basis now for a large part of the cap and trade and other energy portions of the bill. yes, there still is some question about green house gas, but there are an awful lot of scientis

ben is going to watch monetary conditions carefully and watch pressure on wages very carefully and right now, the unemployment rate is way way above what would normally cause inflationairy pressures to develop and i think right now, that is foremost on his mind. >> i believe john tammy is with us, john r you there? >> i am. >> thank you for coming on tonight. very important with this renomination. i think is there very confusing, stocks up but not a huge day. is bernanke the right guy to exit us from this massive liquidity? and what do you think bernanke should be targeting as tee indicator for fed policy? >> i don't think he's the right guy, you look at what he said, look at raising the rate they pay for dollars they give back to the fed to raise the money supply. that can't be because the simple truth is two-thirds of all dollars are overseas right now. if the fed tries to control money in banks, money from overs overseas markets will fill the breach there. i don't like the idea of the fed targeting interest rates. by doing that, that's trying to fine fun the economy. we don't need mon

ben bernanke does not get reappointed? >> it depends who takes his place. perhaps larry summers is a very suitable replacement for ben bernanke. that's somebody they could live with. he was rumored to be in line for the fed chairmanship in the past. it remains to be seen how negatively or positive ly markes might react if bernanke is to be replaced. >> andy, do you agree with that? did you read that "vanity fair" article when he was running harvard and all the money he spent, spending money out of style like the endowment was going to grow at the pace it was forever. is that the kind of person you want running fed policy. >> a lot of the endowment funds made similar mistakes as far as -- >> i'm not talking about the endowment, talking about the spending at harvard run by his part of the balance sheet. >> let's put it this way. summers is presumably the choice that obama would make. i think there's other candidates. for right now, he seems to be the front-runner. >> would you be comfortable with him? >> i would not be considering he worked with robert rubin. i wasn't a big fan of ro

ben is a very modest man. if he had not been reappointed he would have been disappointed for about 20 seconds and relieved from then on. and what he's now got is maybe 20 seconds of elation and four more years of very, very tough situation. i think he knows that. and, you know, he's committed his life to it. and, you know, we can only wish him, you know, every good wish there is. >> we've been looking at some pictures of the chairman testifying in front of the senate, which he must love. that must just be -- >> it's the high point of everyone's life, carl, believe me. listening to our distinguished representatives. i liked it when the three of you were up there, by the way. i thought maybe we should have you three replace the senate. >> that may have been a market top as far as government goes, having us there. we're here with leader armey and art cashin. i wonder if you would comment on how the senate may take this. senator dodd says it's probably the right choice. and he's promising a thorough review of the

we'll get the cnbc cast in a minute. >>> also tonight, the big decision on big ben. is he going to stick around for another four years? or will the president bring in a reliever? and a more important question, what's it all mean for your money? >>> also tonight, don't miss "options action" at 8:30. we're back right after this. >>> if you're heading to the beach on the east coast this week, a word of advice, stay on the sand. hurricane bill is whipping up the undertoe. waves could be as high as 20 feet, but that's not the only problem caused by hurricane bill. paul goodloe with the weather channel. >> we're watching hurricane bill, the good news is, hurricane bill at one point was a category four hurricane with the same winds 135 miles per hour. right now it's weakened to a category two hurricane, but still a strong hurricane at 105-mile-per-hour sustained winds moving 20 miles per hour. and it continues to turn up a huge amount of waves that are heading into the u.s. and crashing across the beaches right now. again, here's a close up view. this is a reason why it's far

our crew this morning is ben stein and charles payne, dagen mcdowell, rob stein as well. charles, what do you make of that? >> this is a scary element. the only element i can think worse than this, you come home and another man's shoes sunder your bed. you know what's going on. listen, $145 million -- neil: i would be ok with the plumber. it's very difficult booking that dude. >> $145 million has been paid out on $2 billion. at the end of the day, i don't know how any of these politicians can say that -- and i have heard a couple of them talk about efficiency, but you can't use the word efficiency and government run in the same sentence. they just don't go together. this is scary as all get out. neil: the president is right. the cash for clunkers was much more successful than they thought so they couldn't keep up with the demand. you can argue they should have planned for that. the problem wasn't the lack of interest. it was too much interest. >> right. that sets an example for what could happen. if we got a public option with health care, will a lot more people wind up on

ben is in. bernanke gets a second term as fed chairman. so how would wall street react it if obama reappointed bernanke now? let's ask our real deal bulls and bears. our bulls, joe miller, chief strategist at wall street capital, bill smeade, ceo, and jay of alcott capital, and our lone bear, al, assistant labor secretary under president reagan. al, let's start with you because you were a white house aide. you kind of know that type of stuff. what do you think the story is on bernanke and will summers get the bid instead just because he's more friendly with the president? >> it will be a great mistake if he did, i'll tell you that right now. i'm a turnaround executive and the golden rule of turnarounds is don't replace a proven producer with an unknown because it usually turns out bad. i'm afraid politics will win out here, dennis. >> politics is going to win out and he'll go with one of his own instead of reappointing a bush guy. miller, what do you say? >> i disagree. i think he'll keep bernanke. think of all the difficulties that they'r

that is when i was jamming on the guitar. neil: what do you make of that, ben? >> it is a small high tech company and it is like buying a lottery ticket. small companies have very hard times recently. it is really as i say just like putting a chip on a number in largse but if you like doing that go ahead. neil: what are you doing? >> i'm not doing this. i have already done but i like city bank. the i think it will zoom up. it will shed a lot of divisions but eventually it will be a core and make money. one of the smartest people on wall street writes for them. i think people that smart will make money. >> they had a big upgrade. but the company will never go out of business with the money we put into it. the stock from that point has a pretty good risk-reward. neil: adam? >> if you use that rationale, g.m. would not have been a good investment.

is clear. we are dealing with remnants of it. and backed up to 495. a live shot of benning road. this is actually still closed between 34th and anacostia avenue in northeast. if you follow me on twitter, oh my goff is my name i have listed the alter nate or hit me on facebook and i will get you a way to go around. slow from the times building to bladensburg road and using the brakes at florida avenue. and good news on 270. at route 85 the accident has cleared but slow germantown to 370. not so bad at montgomery village avenue. 95 and the bw parkway all of baltimore all clear to the beltway. we have been asking for your back to school picture and christy garcia sent this one in. little madison will be attending hutchenson farm elementary. good luck, madison. you are a doll. over to you. >>> the maryland board of public works has approved a number of budget cuts which will save the state $454 million. it means the state government will shut down for five days. some employees will lose up to ten day's pay and 200 will lose their jobs the layoffs are not going over well with their job

that is why we need ben bernanke to continue the work he is doing.t is why i have said we cannot go back to an economy based on over-leveraged banks, and act out credit-card. for even as we have taken steps to rescue our financial system and economy, we must now work to build a new foundation for growth and prosperity. we have to build an economy that works for every american, one that leads the world in innovation, investments, and experts -- exports. part of the foundation has to be a financial reglets or system that ensures we never face a crisis like this again. we have already seen how lax enforcement and weak regulation can lead to enormous wealth for a few and enormous pain for everyone else. that is why even though there is some resistance on wall street for those who would prefer to keep things the way they are, we will pass the reforms necessary to protect consumers, investors, and the entire financial system. and we will continue to maintain a strong and independent federal reserve. we will also keep working towards the reform of health in

is -- we have to pay the piper. we are at that place. >> we could also have that much spending for a little while. >> you are talking about households. >> i'm going to be ben stein. charles, the government never stops spending. it is true. we have to make decisions about what we want. if we don't want a tax break we have to cut spending. ten months into the fiscal year, $1.3 trillion deficit. that took my breath away late at night. >> your impression of ben stein took my breath away. >> ben is right, that the republican presidents, democrats, we are all going to lay -- when leaves office, the government's share of gdp is always higher. we can't stop it. so, then what? we just try to slow the beat? >> well, look, we can stop it if we just at election time get rid of all of them and bring new people in and tell them you are going to balance the books. >> it is not going to happen. >> of course, it is not going to happen. >> the problem with the state tax holliday, it is minor. the problem with obama's supposed cuts for 95% of americans, it minor. i think all the poll sixes have foregotten it is our money in the first place, we earned it and we are giving it

. >> ben yardin is holding a -- ben cardin is holding a rsvp town hall meeting. it will be at host inside as it is outside. >> reporter: the meeting is expected to start 7:00 on the campus of towson university. it's an rsvp meeting and it's expected to be a doozy. here's why -- president obama's plans to make big changes in the health care system has been meeting with the applause in some circles, even more so, anger toward what many are calling the biggest mistake ever is also mounting here. protesters have showed up outraged by what many have called the administration's attempts to socialize meeting. opponents say cardin is only allowing people on his mailing list to speak. >> let me start by disspelling the outlandish rumors that reform will promote euthanasia or cut medicaid or bring about a government takeover of health care. that's simply not true. >> reporter: once again that meeting will be held here at towson starting at 7:00. however, the doors are expected to be open at 6:00. you can expect lines. if you're going to try to get here you may want to get

. >>> a replica of big ben is almost complete. organizers got together for 911th year in england to make a cop of the clock out of straw. it is meant to be a celebration of summer. like the real thing, it has a working clock that lights up at night. we'll be right back. this fiber? i'd had my fill. then i found miralax. announcer: miralax is the only brand clinically proven to relieve constipation with no harsh side effects. you'll see. it's clearly different. restore your body's natural rhythm with miralax. dr. scholl's back pain relief orthotics with shockguard technology give you immediate relief that lasts all day long. dr. scholl's. pain relief is a step away. >>> letterman is next. thanks for watching the n

is off. stocks are higher, fueled by another term for ben bernanke and good news on the housing front and consumer confidence. larry. >> hi, everybody, i'm larry kudlow. now that bernanke is here to stay for a while, we'll discuss what it means for the economy, and the stock market going forward. >> and i'm mandy drury. in our "call of the wild" can the s.e.c. institute tighten regulations on the stock market, as one is calling for? this is "the call" on cnbc. >> a lot of positive news for investors to digest today. first up, president obama renominated ben bernanke as fed chief. home prices posted their first quarterly increase in three years, and consumer confidence rose in august. more on that one later. right now, though, the going above 9 600 for the first time since october. the s&p 500 is sitting at 1031 with a gain of just over half a percent. the nasdaq is also moving higher by about the same quantum at 2028. now, we do have john powell at the white house on the bernanke renomination, and with market reaction, bob pisani, and rebecca jarvis at the nasdaq. we have it all covered. let's sta

. >>> despite the rowdiness maryland senator ben is pleased with the outcome of the town hall meeting in hagerstown yesterday. many people are questioning why so many of the town hall meetings are getting out of hand. jeff is here with that story tonight. jeff. >>reporter: well across this country these town hall meetings are erupting with anger and outrage. meetings like the one senator card held in hagerstown yesterday are designed to discuss health care reform. but audience members are using them to vent about other issues. like public education. public debt. experts say the meetings are drawing people who are proud to be americans but not so proud of their american government. >> i think what they are reacting to in part what is happening over the past year or so. they watch while the government bailed out banks and other financial institutions when they subsidize automobile industry with billions of dollars andal thol many economist and newspaper columnist tell us this is bringing about an end to the recession, they haven't seen it yet. >> analyst say simply too early to tell how

then -- ben is an organ donor and is kept on life support. >> one of the men who kidnapped a couple andaped a woman is facing two consecutive life sentences. the fourth to the 17-year-old male inside the car trunk while the female was raped. the victims were abandoned. he will be sentenced in october. ingenue tonight, the man accused of kidnapping and 11-year-old girl 18 years ago is now being investigated in the myrtle -- in the murder of several prostitutes. he worked during the 1990's -- he was a convicted sex offender. he is speaking out about his relationship with the girl he and his wife are charged with abducting. >> for 18 years, this maze of tents and sheds was the prison. it was home for her two young daughters, ages 15 and 11. both father by the man accused of kidnapping her when she was just 11. convicted sex offender philip, and his wife are answering up to dozens of criminal charges in the california court. he tried to defend himself. >> it is something that needs to be understood. >> as the criminal case begins, the family of a kidnapped girl is reunited. >> she is very h

is to me, too. they have never been accused of being ahead of the curve and my biggest concern about ben bernanke ishis ability to accurately time and pulled money out of the economy at the right time. all of the dollar's thrown into the system are going to cause runaway inflation at some point if that is not managed properly, and how is he supposed to manage that properly if washington is throwing more dollars into the system -- all of the dollars thrown into the system are going to cause runaway inflation. neil: how much did that help his reappointment? >> i think it helped a lot and that is what obama did it when he did it. if he waited five months from now, wall street would have had another thing to worry about. as you accurately have pointed out, neil while street hates uncertainty more than anything else and this economic recovery is just a very feeble right now. we have seen some improvement in manufacturing, but consumers are not getting credit, and as much as bernanke has thrown into the system and as much as the administration has thrown into the economy, we are not out of the woods yet,

. -- >> you have two sons, ben and josh. >> been is much under -- ben is much younger and he is a host of turner classic movies. you cannot do much better than that. there is no downside. >> was and he won of the young turks on air america? >> yes. he was the first drama critic of "the new yorker" magazine. he worked for "new york world." i knew all of those people. he was a member of the round table crowd. maybe it came from him and maybe it came from his father who was a professor of german literature. >> here is a little more from ted kennedy at that rose. >> -- at that roast. >> it was a marriage made in heaven. she relied heavily on his press skills, what my brother love the most was the day-to-day company and his sense of humor. once bobby brought him to the senate office said he was just a tiny baby. body showed him off and introduced into the whole office. at that time, frank had just become a father again, too. his son had been born a few weeks earlier. so, bobby went over to frank's desk, held up the baby, and said the "franc, say hello to dodi. he has just read [unintelligib

obama is reappointing ben bernanke as chairman of the federal reserve for a second term. he is given credit for keeping the nation from economic catastrophe during the economic meltdown. >> john hendren has more on this story. >> reporter: good morning, jeremy and vinita. ben bernanke will be at the president's side this morning as the president makes the announcement from martha's vineyard. the president is expected to say, with bold action and outside-the-box thinking, bernanke put the brakes on the financial free-fall. bernanke's term doesn't expire for another five months. there was no need for immediate action. but a white house source says the president believes that consistency is crucial. bernanke's a republican that was appointed by president bush. but he's earned widespread respect on both sides of the aisle. bernanke is expected to win easy approval in the senate. jeremy and vinita? >> we mentioned the long-term impact of this announcement. do we know how the stock markets are likely to react on this news? >> reporter: i wouldn't expect a market rally on this ne

one of the big questions is the future of ben bernanke as fed chief. be giving us a report card on how bernanke is handling the financial crisis and whether he thinks reappointed. more town halls voicing their opinions over health care. we have senator tom coburn with us today. also marsha blackburn. they're going to report to us about how their constituents are feeling about this plan and what they are hearing. cash for clunkers is running on empty. that controversial program giving the industry a boost. we're going to take a look at what is ahead on the road for car sales. becky, "squawk box" is coming up at the top of the hour. we mentioned that steve leisman will be joining us in just over an hour's time. ap story out today about the fed and it says that there was a reporter who has been entertaining them, a television correspondent who has been playing guitar and entertaining them and we're going to find out if that's steve. >> what a multi talented guy he is. we know he's skilled, but that's extraordinary. maybe we should get him playing his guit

. >> reporter: 19-year-old ben alexander is a talented musician, but he almost gave up his music andeven dropped out of the college in a quest to ma master world of warcraft. >> at most, it got up to about 16 or 17 hours a day. >> reporter: ben is an iowa teen addicted to internet gaming. he's already completed several addiction treatment brams in several different states and for the last 3 1/2 weeks has been part of an online detox program, the first of its kind now open in western washington. >> there's nothing wrong with being online until it starts interfering with what you want to get out of life. >> reporter: located on five acres just a few miles from microsoft's head kwaurkts the restart internet addiction recovery program has opened its doors. >> we've really moved into an internet nation. >> reporter: the creators of restart say internet addiction is a growing problem affecting as much as 10% of the online prop lags. >> our program is designed for someone who has lost complete balance. everything is done online and the things they that they might have liked to do in real li

benning road is closed. a lot of ylow tape around that scene. we will give you more details. ing route is a popular route for drivers mainly going westbound. we will get more from stan thomas in just a while. this is an accident on 395 northbound after glebe road and before washington boulevard. we go to top stories now. >> thank you. >>> we continue our coverage of the death of ted kennedy and the legacy the liberal lion leaves behind. >> he left his mark on thousands of pieces of legislation. courtney robinson is live with more. certainly his imprint is far and wide. the patriarch for the family. the question now, who will succeed him? he was a voice for civil rights, alth care, education. now the roar of the lion has fallen silent. >> the work goes on. the hope still lives. the dream shall never die. >> ted kennedy carried their dream forward. we saw his personal failures -- chappaquiddick, and the loss of the 1980 presidential bid. >> i believe the camelot era passes today. i do not believe the next generation could ever measured up to the first. >> but the legacy continue

it going to be helicopter ben or is it going to be king dollar ben? protect the dollar and inflation rate without asset bubble and inflating ben or helicopter ben. >> there's no evidence he's anything but helicopter ben. he's sitting on $2 trillion of toxic assets he has to work out of. he will pay banks interest on reserves and endorsed. >> you're voting for helicopter ben. i have to go real fast. you're going for helicopter ben. brian wesbury. helicopter ben or king dollar ben? >> i think it will be very difficult for the fed to raise interest rates in here. they should be doing it right now. it will be difficult because the unemployment rate is high. we have a populist political environment right now. when you have pop pewism, it's difficult. >> a tough call. >> brian, stay with you. the new york's labor leader is now the chairman of the federal reserve bank of new york. this is a story, i saw it as a big editorial on invest"investo business daily" a day or two ago, nobody is talking about this, the guy is anti-business, pro-regulation, doesn't lik

he is reappointing ben bernanke for another four-year term. says the country is still a long way away from a complete recovery. bernanke helped to limit the damage of the financial crisis. >> as an expert on the causes of the great depression, i am sure that he never imagined that he would be part of the team responsible for providing another. because o-- for preventing anot. that is what he has achieved. shepard: ben bernanke has to be confirmed by the senate. christophechris dodd is going td a thorough hearing. he says that ben bernanke is probably the correct choice. for the first time in three years, the values of homes are going up. that is according to the s&p national home price index. it rose for the second straight month in june to end in the second quarter. the index is up 1.4% higher compared with the end of the first quarter. take a look at what has happened over the past year. the numbers don't mean muchevyú y half a million dollars to prisoners. by law, prisoners do not qualify for the rebate. this was blamed on bad bookkeeping.

and i think as a result of that, the federal reserve is going to stay on hold. allen -- benernanke is not going to be forced to move monetary policy anywhere in the near future. >> okay. so basically, steve, what you're saying is all the good news has been front-loaded and all of the temporary and also potentially reversible factors like cash for clunkers, home buyer credit, whatever, all that is going to run out. in the fourth quarter, though. is there anything maybe the government or the fed has up their sleeve to be able to keep the economy chugging along, to give it that extra kick, if you like, a bit more candy? >> to the extent they're willing to run multitrillion dollar deficits on an ongoing basis, yes, they could come up with things. but the reality of the situation, we go into the same thing -- we don't make many appliances in this country anymore, we do make cars. and therefore, it's not going to help us. and there aren't that many big durable items out there that are going to figure out system way of policing an environment to do incentives. all this has been com

is wrong with your tv set. you are not seeing double. >> predictions? jeremy, you are up. >> bennke, a target of identity theft. as someone who has actually been a target of identity theft, i wouldn't wish that on any one. it is horrible. who is going to benefit is companies like equi fax. i love the chart, i think it is up 20% by the end of the year. >> toby, do you love it? >> i loved it about 30% ago. >> your prediction? >> h and r block. couldn't get out of its own way. subprime mortgages, horrible stuff. focused on the core tax business which is insanely profitable. 3.5% yield. >> the internet and competition is goglet their luncheon. >> and what is your prediction. >> hasn't happened yet. >> am i going to give my prediction or what? go ahead. >> cisco systems. they have come through the bad times and sector is leading the way out. i think the stock could be up 30% in 12 months. >> gary b., do you agree? >> i don't. it is way overbought. i would buy it on a 20% pullback which i think is going to happen. >> and your prediction? >> you think you have the ultimate prop. i have

activity that we just mentioned a few minutes ago, benning road at 34th street, the inbound side of benning road is outbound benning road, though, between 33rd and 34th northeast, outbound benning road does remain closed. eun, back to you. >> thanks so much, jerry. >>> 6:42 is your time. federal stimulus checks sent to hundreds of convicts behind bars. we'll explain how that happened. >> and d.c. mayor adrian fenty is here with us for "connecting with the mayor." we have a lot to talk about this morning, including something residents are calling a waste of taxpayer money, as well as ted ridistct.n e ristct . >>> good morning and welcome back. i'm here this morning with d.c. mayor adrian fenty for "connecting with the mayor." thanks for joining us. >> good morning. thanks for havingme. >> before we get to some questions from our viewers, let me ask you your thoughts on the life and legacy for the district of senator ted kennedy. >> senator ted kennedy was a strong supporter of d.c. voting rights. that's our number one issue, so we really will miss him. but i think he was also kind of philosophically

is. gwen: how far will the investigation go? and as fed chairman ben bernanke wins re-appointment, stocks gain but deficit projections have slowed. is there a silver lining anywhere? covering the week, david broder of "the washington post," karen tumulty of "time" magazine, pete williams of nbc news, and david wessel of "the wall street journal." >> celebrating 40 years of journalistic excellence. live from our nation's capital, this is "washington week with gwen ifill" produced in association with national journal. corporate funding for "washington week" is provided by -- >> it creates half the electricity that fuels our dreams. we have more of it than anyplace on earth. and we're working on cleaner ways to use coal every day. there's more information at nma.org. >> corporate funding for "washington week" is provided by boeing, major funding for "washington week" is also provided by the annenberg foundation, the compragse for public broadcasting -- the corporation for public broadcasting and by contributions to your pbs station from viewers like you.

i was probably a bit surprised on the timing, but i think it's a good move for two reasons, one, ben is a capable economist, certainly has studied the area and knows it as well as anybody in the world, but more important he's been there. this is a situation like a 1 in 100 years hurricane. it came out of the blue. there's no playbook, no set of guidelines, but i think for the most part, and when i say we i mean the bush administration and the fed, got it right. the fed put liquidity into the market early on, they initiated a number of facilities that i think were quite helpful in making sure the market worked, and i think we're back on track. i would say for the most part these moves were good, and i applaud the tlts appointment. >> do you believe that congress will have the political will to allow ben bernanke to do the exit strategy, which would be to soak up liquidity by paying interest on bank reserves, you know that means restrictive lend fog main street. congress is going to let him do it? >> when i hear rick talk about it, my thought was amen. the problem is the huge expansion in

this one is at hagerstown community college in maryland. and your host, senator ben cardin. >> the main reason, i've said it up front, the first reason why we're taking up health care reform is to get the costs of health care reduced in this country. our children and grandchildren cannot afford to have a growing part of our economy spent in health care. there's other needs out there. we need to be able to give them a higher standard of living, but if they spend more and more on health care, it affects our economy growth. so, the first goal is to keep health care costs to reduce the rate of growth, and i'm going to repeat what i said at earlier town meetings. i'm not going to support a bill that doesn't bring down the growth rate of health care, and i'm not going to support a bill that's not totally paid for. so, in both respects we're going to make sure there's no addition to the deficit. >> thank you, senator. ingrid from smithburg has this statement to make. question and statement. why does the government want to rush into the bill when many don't want it? please t

is only getting hotter. there has been out raid on both sides of accusations made. a few critics have performed lawmakers to nazi's. -- have compared lawmakers' to not cease. >> senator ben cardin is holding a town hall meetings on the issue. his foreign drew a large crowd in towson last night. -- his forum drew a large crowd in towson last night. kate amara has more. >> although the two sides clearly clashed last night, we found them agreeing to a day of what happened here. baltimore county republican chair used his network of contacts to organize this vocal opposition at the town hall meeting. >> this was citizens who were upset with public policy and that rarely happens, especially not only in maryland but also nationwide, when citizens are upset with public policy. >> senator ben cardin got an earful from hundreds of angry constituents. >> i have done town hall meetings for a long time but i think this one is exceeded numbers we have seen it in the past. >> both sides seem to agree that the meaning behind this may trumped the motivation. >> it was an opportunity to exchange views. i had a chance to respond to the questions. >> anytime you can involve public opinion a

is staying on the job. >> the president announces he wants ben bernanke to stay on. is that a coincidence?he president interrupted his vacation on martha's vineyard to make the announcement, and bernanke then gave some positive news about the economy. >> the u.s. economy appears likely to expand at a moderate pace over the second half of 2007. to a rate close to the economy's underlying trend. >> already, with us now is jimmy pepicoucus. am i wrong to be a little bit suspicious of this? ben bernanke had to wear white shirts to make this announcement. >> i think you're being a bit cynical, but what's your take? >> i'm not naturally cynical, i'm incredibly cynical. i think they not only timed their own budget relief of that, so there's only going to be one day of a lot of story. but, yeah, i do think they timed his announcement on this really horrendous budget deficit numbers. but yes, ben is back, the guy who is involved with screwing up the economy, also would save the economy. what have you done for us lately, what he's gone for us lately, wall street would like. >> and you have allen gre

ben is the official spokesmen for all jewish people today. >> yes.is is an honest question. i don't understand how so many jewish people can just vote for somebody who so clearly is anti-israel, not that jews are all, you know, pro israel. i mean, i think israel stinks sometimes on ice, but in the grand scheme of things, much better than the rest of the middle east. >> israel is great, period. it doesn't stink on ice anytime. it's true. one, jews traditionally were angry at their sovereign party because they thought it was a party of the rich gentile country club union league type people that did not admit jews to their club. by the time that nixon and reagan came along and assured them that they were the best friends israel ever had, there was a little bit of movement, but not many of jews tend to vote -- the same as their immigrant grandfathers did, and jews have a long, long time, historical sympathy for the african-americans and their suffering, so they went for obama. obama had it in big neon sign on him, i'm not going to be a friend of israel.

well, he is the country's top banker, the head of the federal reserve. ben bernanke is often an identity theft victim in this case. we'll tell how ripped him off and how much they got. and what ben bernanke himself says about the whole experience. that's coming up. generally awesome. and you could just-- go online, video-chat with my cousin. this is un-- under $200. are you some kind of-- mind reader, visionary ? no, i have them. huh. the new lightweight hp mini netbook with windows and america's largest and most-reliable 3g network built in. only 199.99 with mobile broadband plans from 39.99 i am-- speechless, envious. wanna be me right now. getting one. hñwhat heals me? girls' night out. and for damage from acid reflux disease, my nexium. announcer: for many, one prescription nexium pill a day can heal damage to the esophagus that acid reflux disease may cause over time. and nexium can provide 24-hour heartburn relief. headache, diarrhea, and abdominal pain are possible side effects of nexium and other serious stomach conditions may still exist. anno

is interesting. obama doubling down on ben bernanke today. take a listen. >> as an expert on the causes of the great depression, i'm sure ben never imagined he would be part of a team responsible for preventing another. but because of his background, his temperament, his courage and his creativity, that's exactly what he has helped to achieve. and that is why i am reappointing him to another term as chairman of the federal reserve. >> our next guest, he worked with ben bernanke in the white house. he was chairman of the council of economic advisers. i interviewed him at one of the option pits a couple years ago. joining us from stanford university where he's now professor of economics, what a surprise there. welcome, ed. >> good to be back with you, rick. >> you know what? give me your take. were you surprised at all today? >> i don't know that i was surprised. i was a bit surprised on the timing but ben is a very capable economist. certainly he's studied the area, knows the area as well as anybody in the world. but more importantly, he's bee

>> there is only one person whose opinion counts on that, and that is president obama. i would say that beneserves reappointment. >> talking of president obama, obviously there is some financial regulation reform on the table right now. and amongst those proposals, there is obviously to give the fed essentially the mission control spot. how much do you think that is also jeopardizing further the independence of the fed? >> i think it's a mistake to give all of that to the fed, and i don't say that because i don't think the fed's up to it. it is. but it runs again the political risk that would compromise the fed's independence. the committee on capital markets regulation that i co chair had recommended a large umbrella regulator to stand side by side with the fed, and i still think that's a much better idea. >> mr. hubbard, when do you anticipate a rise in interest rates? we were debating it earlier on the show. some people are saying maybe by spring. what do you think? >> i think that would be aggressive. a rise in interest rates will occur when the economy's financial normalization is well

fire. >>> senator ben cardin is going to be on the road today in the eastern shore.e's talking about healthcare reform. he spoke at the second meeting. it was a little more controlled. he plans to meet with more marylanders in the next couple of weeks. >>> and the big news out of washington is that the federal deficit has hit an all-time high. the latest government knows show that it's $1.27 trillion. that's more than $4,000 for every person in the country. healthcare reform critics organization that the country can't afford the change. but supporters say that it will pay off in the long run. >>> in howard county, an accident killed a 26-year-old man. he was on a riding lawnmower and working on annapolis junction and he tumbled done a steep hill and got caught under the mower. he was rushed to the hospital where he died. >>> miss shirley is back home in cherry hill. a stray bullet came through her window and lodging into her left breast. she's more committed now to helping the neighborhood children. and that bring it's hope and inspiration to other activists. they're

but first...how healthy is the banking system...why some aren't convinced we're out the woods just yet. relatively slow but beginning to emerge.that's how federal reserve chairman benbernanke is describing the return to economic growth. still, worries continue about the health of the bank industry, considering it continues to sit on so much toxic debt. the tarp watchdog warned this month that 10 months after the bailouts began, - quote - substantial troubled assets remain on bank'' balance sheets. michael iannaccone is an independent banking consultant with mdi investments. is always nice to see you. thank you very much. we can position has been focused almost a year now how have banks been using their capital where there belau capital? that pretty much have been using them to shore up their balance sheet. there is not enough capital around to shore up the balance sheet and up for them to a write off nonperforming assets and because the value of the industry puts on assets are probably 20¢ and the banks came take the 80¢ hit so that's why the assets aren't moving off the balance sheet. i and lot has happened in the 20 years since the savings and most prices so ther

dnc chairman howard dean, and the childrairmf democracy for america which is sponsoring that ad you just saw. are you saying that ben nelson is in bed with the mutual of omaha and the other insurance companies out there in nebraska? are you saying he's in bed with them? you say he's taking their money. is he in bed with them? >> here is what's going on -- >> you're saying that in the ad. so just say it now, jim. what's the different if you can say it in the ad and saying it now? >> chris, this is part of a much larger campaign that we've been involved with in our million mex members of our community have been involved with. it's a campaign of letters to the editor, petitions, 150 to 200 meetings with congressional staffers. all aimed at getting citizens to take responsibility over this debate and take responsibility over this process. the democratic party is a big tent. it's a coalition party. with he no he there's some candidates -- excuse me, senators that are going to disagree with the president's plan. we support the president's plan, and we're going to challenge those senators or other elected officials that di

ben bernanke. the president and bernanke appeared at a school this morning. he said he was reappointed bernanke when the fed chair's term is skecheduled to end at t end of the year. >> as an expert on the causes of the great depression, i'm sure ben never imagined he would be part of a team responsible for preventing another. because of his background, his temperament, his courage, and his creativity, that's exactly what he's helped to achieve. that's why i'm reappointing him to another term as chairman of the federal reserve. ben approached the financial system on the verge of collapse with calm and wisdom, with bold action and out of the box thinking that has helped put the brakes on our economic freefall. >> for his part bernanke also noted the historic economic challenges that he and the obama administration have been dealing with this year. >> i'd like to express my gratitude to president obama for the confidence he's shown in me with this nomination and for his unwavering support for a strong and independent federal reserve. our objective remains constant, to restore a more stable financial and economic environment i

. >> senator ben cardin is not done pushing healthcare just yet. >>> it's come down to this? are we facing recovery or ruin. there are new sign that's the economy may be improving. but we have the federal deficit and it's hit an all-time high and it's not slowing down. here it is. $1.27trillion. that's more than $4,000 for every person in the country. healthcare reform critics argue that the country cannot afford change. but bill supporters say that the reform will pay off in the long run. >>> later for the family of a baltimore bicyclist killed last week says that surveillance video shows that the george was the direct result of the truck driver. they're discussing releasing the video it clearly shows that an unidentifiable truck did not signal when it turned on west lafayette killing the cyclist. police are trying to identify the truck and drive. >>> yesterday we told you how someone shot miss shirley. she is on a first name basis because of her love for cherry hill. the 59-year-old, there she is with the phone in hand is smile and her face. a bullet came through her window

respected reporter and correspondent and ben is much younger, has i think maybe the best job in america. he's the weekend host of turner classic movies. can't do much better than that. no down side. >> wasn't he one of the young ones on young american for a while? >> may do that again. >> where's all this come from in your family? >> i don't know. maybe something from my father was among other things the first drama critic of the new yorker magazine. reporter in europe for a while. worked for the new york world, always known as old new york world. i knew all these people. that crowd. he was a member of the roundtable crowd so. maybe it came from him. maybe from his father who was a professor of german literature. i don't know. >> here's a little more from ted kennedy at that roast. >> what a great two years they had together. i love to watch it a marriage made in heaven. bobby relied heavily on frank's excellent advice and extraordinary their press skills but my brother loves the great good company and brilliant, laugh your head off sense of humor. once bobby brought his newborn son to

. >>> not even ben bernanke is immune to identity theft, someone stole his wife's purse last august atapitol hill starbucks. according to door. court documents, the thieves used his wife's information. there were part of an elaborate identity theft scheme. the schemers stole more than $2 million from conmers. >>> a united airlines employee is accused of stealing thousands of dollars of merchandise out of passengers' luggage. the police say she has been stealing laptops, cameras, jewelry, ipods, and other items. she works and yet it costs lost and found. the police -- the police searched her home and found thousands of stolen items. >>> there republican gubernatorial candidate is defending a comment that he made. he started talking about a hot and tags that had to be purchased. the person asked about a bomb attacks, and he said, "we would buy some of those." >>> if you drive interstate 95, getg ready for night delays. in the end inctthe rustion will inc fullyru help traf fairfax and prince william county. meantime, drivers can expect multiple lane closures. for a list of the closures an

fed chairman ben bernanke is asked to stick around another four years...how he has answered the challenges of the credit crunch..and what may be ahead. new white house numbers on the government's growing red ink... and what americans are doing now.. to brace for a potential crisis in the future. and...ma bell is accused of not hiring back older workers...a look at age and unemployment...it's all ahead on this edition of first business. ba ahead of monday market action glad you're along proprietor market still trading like it's already in a labor day holiday well before the holiday break to come and more than a week if we assume eyeballing but the market still remain near to have ties with less bad news and perhaps the market may give a boost or a lift peru housing data new home sales on top form and states than in recent weeks the headlines and housing have been positively remember we still have star clouds regarding increasing foreclosure that are still looming above all said and with the unemployment rate still go and hire people content to boost their jobs is still a big problem to cons

a good thing in the market. >> that is right, and it is interesting that ben bernanke guy. greta: i guess that if it is a flop, they can spread the blame. a success for ben bernanke and the president on the economy. ok, the deficit. >> these numbers are just so horrendous. by the way, i wanted to clarify what you said. the debt will be that figure, not the deficit. but there was a little sliver of good news today, which is that the deficit for 2009 will be a little bit lower than we expected, about $1.60 trillion. that is still four times larger than we have ever had it, but we areÑi still headingç towards a financial train wreck as a country if we do not do something. we cannot do this over the next 10 years and not expect huge repercussions in terms of interest rates, and you mentioned all of the money we are borrowing from china. greta: i do not know if our numbers are right, which is why i keep emphasizing that we and the staff crunched these numbers. $1.20 billion. if that is just the debt service or one month, that could practically rescue one of the smaller sta

ben cardin is holding a town hall. they expect about 500 people and they will have extra police on hand. it seems like it's news when there is an uneventful town hall. >> i don't get any member of congress not being excited and looking forward to coming out. >> if senator mccaskill needs an answer -- >> i want to talk to you face to face. >> how dare you? >> i want to know if it's coming out of my paycheck. >> look for further than youtube. volumes of video from town halls getting heated. >> [beep]! >> in st. louis rlings several were arrested after things turned vital. >> a guy attacked me. >> in tampa, this representative was drowned out -- >> [beep] >> when those inside and outside began to fight. >> open the door! >> in georgia, this congressman fired back. >> you want a meeting with me on health care? i'll give it to you.rstsbu son white house today unveiled a website called reality check to counter what it deems misinformation. >> i want to talk about one of the myths that's been swirling around the health care d