that is what black rock city is. why not transpose that to san francisco?nk the city is now looking at doing art paths for that purpose. it would not be hard, given the abundance of -- after so many years in the desert, there is a huge backlog of brilliant art. magnificent piece is done by armies of artists working together. so that is an obvious things that could be instituted. i also pulled him that we did not have any trash cans in our city. we did not really continue that dialogue. [laughter] >> the question that everyone in san francisco is asking now, i'm going to ask you as a formality. are you going this year? have you ever missed one? have you ever wanted to? >> no. [laughter] at one time, i was very much needed -- i am still needed, from time to time. although, if i and my partners have done our job, we should not be needed that much. i am like anyone else out there. it is a big place. it is hyperactive. not only are there 100 things, but they are all happening at one time. thousands of things happening at one time. i feel dwarfed by it. it is hum

i was on a tour for the black rock arts foundation. we went to various studios around the area where artwork was getting ready for la playa. all of the big ones involving armies of people with the various skills. it takes her attacker, a traditional art, overlapping fields of knowledge -- takes tech, traditional art, overlapping fields of knowledge. even people who were not elected to do something here, they joined other people on their project. those of you who are familiar with the world of commercial art, you must know how deeply weird that is. in order to make it any agent -- anyone will tell you at a gallery, the way to make money as an artist is to put your brand on it and make it unique. then it gives it a higher commodity value. the last thing you do is open the collaborate with other people. the theory is to increase the market value. it moves across disciplines fast. there could be a sound component. this guy knows about digital circuits. pretty soon, you have all of these people. and here is the curious part of it. we never

black rock solor, which came out of burning man in gerlach. the school is closing down because they do not have any kids. the economy has been based on mining. there are some tourists that come through. hunters. some of our people come through and leave money in their wake. a little town like that does not know how to make money. but they have learned in certain ways. we have made significant charitable contributions. i do not want to great -- take much credit for this, but we are helping to keep them alive. the thing about our event, we do not do commercial things at the event. it spreads out the economic development to our neighbors. the piutes down the road are now doing in the in taco stands now and we know them. there was the day when we were considered scary, coming from san francisco, you know. it is much easier to break into a big city. but we are well accepted and respected because we talk straight with everyone and we have benefited everyone. >> one more question and then one final question for you. >> something my friends have talke

the founder of burning man and he is here to talk about the amazing place and phenomenon known as black rock city. he is one of the original planners and architects. we are going to talk about the path of burning man, the future as well. before we jump into the question that had to do with what is going on, tell us about your new headquarters and how that came to be

>>> this potential of passover, black rock road, near falls road, twine mt. carmel and butler road. these neighborhoods, that's where we're seeing the most dangerous part. it's an extremely slow moving system capable of producing a tornado. let's go back down closer to baltimore where we've been watching this other tornado, potential tornado. this is over the southern city limits, glen burnie. elk ridge you're under the gun for a potential tornado, moving toward the northeast going right through the city limit. elk ridge 5:04. catonsville at 5:11. if you have a basement, certainly want to get downstairs, download the app. be prepared to lose power. lightning is a big concern. a slow moving storm will produce massive flash flooding. baltimore under a tornado warning until 5:00. we'll keep the carroll county warning until 35bg -- 5:00. pg county and moving toward the southern city limits. i think that pg county warning will be up until 5:00 because these are such slow moving storms. >> there are tornado warnings until 5:00 for baltimore county and carroll county. the most active is th

most of huge funds like for example black rock or kuwaiti fund they believe that our policy is transparent it's stable it's very predictable and the kuwaiti fund which is most respectable oldest and thrusted in the world for the first time in its history. gave the russian. direct funds. direct fund. five hundred million dollars alone saying that you can use this money for any project which you wrote in the best inside russia. and those projects that are not natural resources the toll it's called mineral service it's trade retail infrastructure logistics. which is a very good sign for world investors and they think that a political climate and political cause is also correct that democracy is developing and that democracy is developing in a natural evolution really way not in a revolutionary way that's why they just stay calm talk about political climate there is they have a lot of criticism lately following the harsh new legislations that will actually implement penalties against unlawful meetings and will fund gatherings many sees this as a crackdown on freedom of speech and freedom of ga

been in north dakota for 43 years, some people refer to this as an oreo cookie, you have layers of black rock shale and you look at the rock, it's hard. it's dense, it's tight. but by drilling, two miles sideways, that is the horizontal component, and fracturing the rock, which means cracking it, you draw the oil out of the entire system. >> the thing we worry about is the federal government and regulations, particularly the environment. we are concerned that the federal government would look at it and say, we are really not sure, let's put a moratorium on the study, that would be devastating. >> from a science standpoint i know that we are safe, people ask me am i a environmentalist and yes, i'm a farmer. i want good safe drinking water here. i think that the country can learn by what north dakota has done. >> that is why we tell congress, you guys need to come see this, and come and talk to the people and see what kind of people are here, and see what made this country as great as it is, it's hard work and blue collar people, not the say that we need politicians. but they are not what made

mortgages, i don't think that average people are going to be your broker at swab so to speak, the black rocksand big companies like this. >> berkshire hathaway. >> and the major investors involved in this. i will say this, it's like tarp in the sense, the initial tarp plan was that the banks would sell the toxic assets to the federal government. why didn't they do that. >> or the bait and switch. >> why didn't they do it. >> too complicated. >> not only that, every bank would have been declared insolvent immediately and they knew it. >> adam, your quick take on this? >> i think the fha is an embarrassment, still insurancing loans with 3.5% down payments and i agree this is a good idea to get it off the government's books. >> the people who get them love them, that's our problem. >> that's fine, fine, any other thing you want to say. >> no, i'm just saying that people who have the mortgages love them and then complain about the fha being on the rocks. >> and at least, i wasn't banging the table, hello-- >> dagen, mr. gasperino, it was a pleasure, up next, what could be more than the magic bus

any way, guys, i think everybody knows friday was a bad day at black rock for the administration, just a bad day. it was a bad day because we all thought it might be coming, the debt turnaround where the unemployment rate was creeping down to 8.1 which started to go up again, symbolizing the market for the bad. the market went down 300 points on friday. the worst that i saw, gentlemen, was the growth rate of this economy this whole year has been about 8.9%. we're not growing. >> what that means is it puts the focus squarely on what the president has done so far and what he plans to do minute by minute from here on. you're harping on the big jobs program -- >> does that make reference to me? >> harping? no, focusing on. >> thank you. >> the obama camp will say, look, we have to explain that mitt romney is not capable of getting us out of this situation. and that may be true, but before voters get to that, they need to know what the president -- remind me what the president has done and what in this dire situation, and it's still rather dire, even though the overall signs have been somew

morgan shocking and black rock are trying to make money in a market now worth a billion dollars a year so apple is completely flexing its muscles and in fact to get entire market over resources and workers forget to call corporate you have to look at an e.t.f. but this is you know the jetliner on the honesty of the city has been a job most of it involved in this invasion of genocide because i guess it's got the bars live in supplies so there's a two fold store and one j.p. morgan to make it it's going to pump and dump this sector and are going to believe that there are supplier or pro consumer i'm sorry and of course of going to sam was obviously concocting a vision. and so that's that was from a demon and on that note i love our beloved is not alone we're going to be fighting the chinese for control of those mines because china went into those mines and got a lot of that lithium in afghanistan but that's where we're going to leave it that's all we have time for thanks so much for watching and be sure to come back tomorrow and in the meantime you can follow me on twitter at warren list

we spoke with several groups expressing interest they include black rock. they say they want to see transparency. they want to know exactly what they're buying, how it's performing, and what future performance expectations might be. we have plenty more details on this on the blog, realitycheck .cnbc.com. and wall street is bringing back the complicated instruments of the real estate market. we asked folks on the street. >> mdf? what is mbs? >> wrong person is ask. >> mortgage backed securities. >> i couldn't tell you exactly what it is, but i can tell you the banks were very eager to give home buyers more money than they needed. >> i don't know. >> we don't know. >> sorry, i'm not understanding. >> oh man, don't ask me that, i have no idea. >>> maybe that's not all together fair, but it does seem like alphabet soup out there for the average joe. are they putting the housing market in risk again? one of our guests says it's horrible, the other says it could be okay. >> it's a horrible idea, the reos should be doa. it reminds us of the saying it's deja vu all

. >>> the burning manifest value received approval today to bring more people than ever to the black rockesert northeast of reno. the bureau of land management granted a permit that allows 60,000 people to attend burning man. attendance has been limited to 60,000. the event sold out last year. and a controversial lottery for tickets was implemented this year. >>> annadel state park in east santa rosa is on the hit list of parks to be closed. the plan is for donations to cover most of the $278,000 it takes to operate the park. >>> san rafael's based autodesk is moving. the additional space will be adjacent to its original tower. >>> looks like east oakland's foothill square will get a renovation. the center will soon get a large food's co grocery store, ross dress for less, anna's lynn thens thens -- linens and a child care. construction will begin immediately with the hope for completion next year. >>> we have a developing story out of antioch tonight. a drive by shooting sent two people to the hospital. we're told that shortly after 8:00 p.m. two people were sitting in a car on wilbur av

. >>> the burning manifest value received approval today to bring more people than ever to the black rockert northeast of reno. the bureau of land management granted a permit that allows 60,000 people to attend burning man. attendance has been limited to 60,000. the event sold out last year. and a controversial lottery for tickets was implemented this year. >>> annadel state park in east santa rosa is on the hit list of parks to be closed. the plan is for donations to cover most of the $278,000 it takes to operate the park. >>> san rafael's based autodesk is moving. the additional space will be adjacent to its original tower. >>> looks like east oakland's foothill square will get a renovation. the center will soon get a large food's co grocery store, ross dress for less, anna's lynn thens thens -- linens and a child care. construction will begin immediately with the hope for completion next year. >>> we have a developing story out of antioch tonight. a drive by shooting sent two people to the hospital. we're told that shortly after 8:00 p.m. two people were sitting in a car on wilbur aven

said, i'm not using my words here, eisenhower said that we've got to deal with little rock, because it's giving us a black eye abroad. we've got to deal with little rock, because it's giving us a black eye abroad. eisenhower wasn't necessarily in favor of school integration. okay? he was a product of his times. and he actually expressed a lot of concerns about black kids and white kids sitting in the same classroom. but he was also the president of the united states, and he felt that he had a responsibility, and he did have a responsibility to enforce the u.s. supreme court decision and other federal decisions. and so the die was cast, as steve said, that eisenhower committed troops, and those troops were going to be sent to defend the rights of these black kids in the south. little rock is significant for a couple reasons. maybe three reasons. let me list them very quickly. and then we're going to take a break. first, little rock is significant because it proves that the 1954 brown decision is, in fact, the law of the land. it proves that decision means -- means that those who oppose desegregation are no

t the former chairman of the swiss national bank joining black rock as vice chairman.his post after a series of controversial securities exchanged by his wife. also, diesel fumes could cause cancer. the ruling could prompt more restrictions on diesel. the fdc says the company violated federal law by selling personal information on its website. ernst and young ceo james turley on the boy scouts is the highest ranking business leading denouncing the policy banning gay and lesbian den leaders. he says he'll work with the scouts on their policies. amazon got a $16.5 million state department contract to put 2,500 kindles in libraries all around the world. do the math here. it comes out to 6,600 per kindle. $16 million of that contract is going to shipping and customer support. and north dakota voting on eliminating property taxes. if it passes, the legislature will have to figure out other ways to get revenue. it's getting traction in places like pennsylvania, north carolina and texas. >> all right, i've never met a tax cut i didn't like. of course, this is the oil and gas

. >>> there's a new report from black rock saying a housing recovery maybe in sight.ery pleased to welcome the vice chairman, barbara novak and senior adviser to the head of government relations. welcome, barbara. good to see you. >> hi, sue. >> let's -- can i pick up with where diana left off if i could? if we're seeing a bottoming in housing prices which i think you are seeing we're seeing people try to invest in foreclosed properties, invest in bank owned properties for profit. but if we have a recovery coming in the housing market, is that longer term still going to be a profitable trade? >> i think there's a lot of different aspects you have to look at from an investor standpoint. the reo to rental is one piece of it. we think there's opportunities there for investors. but in addition, you have to look at the overall mortgage market and the need for private capital to come back in to the housing markets to support the overall market. that's a real key point in our publication that you have to look holistically at the pieces, not just the individual parts. >> as y

look at something like black rock which is in the financial area and has 10% dividend yield and focusedostly on u.s. domestic middle market companies and their financing. much rather own that than jpmorgan right now. >> why no appetite for a regional bank which has everything that you said of some of these other places in the market, exposure to the u.s. less concerns about some of the regulatory hammers that are coming down. it looks brighter than large banks. >> you have the yield curve. you have no movement on yield curve. how will you make spreads over the long run? it seems like it's not something you want to get involved in when you can get a greater spread if you go into lower credit quality which is really what you're dealing with. >> quick comments on the banks? >> gun to the head we go with names we talk about here. u.s. bank, wells fargo, i rather be there than with jpmorgan even though i bet wrong against momentum quick play here. in a world where we watch 100 handle swings in the s&p, you have to be playing xli and xlb for beta moves because the growth is going to be muted

. >>> to me, -- yeah, i think to me hip hop was the second emergence of rock and roll when it first hit black people made rock and roll, white kids love it but there was a force to stop it. the second time it came around white kids got hold of it they love it like i am saying the fedex man will come and his hat will be turned a little to the side that's hip hop. everywhere everybody has a little hip hop slang i mean if you listen to law and order you just listen to the dialogue, all of us there is a little bit of a little hip edge that goes to it. i think that is what cass meant it didn't invent everything. >> you mention law and order you are great on the show your career to me you are one of the most fascinating guys in rap i am serious because of where you started you have been very open throughout your career the criminal background all of that very hard core a flash point, in the 80s and 90s with cop killer and all that, you end up playing a cop you are a reality tv star with your wife has any of this surprised you. >> it all surprised me but the way i explained it i am just a guy comes

cheaper than the red carpet. >> jimmy: here's guillermo at the premiere of "rock of ages." >> eye had, it's me guillermo, at the black of "rock of ages." celebrities, i love rock 'n' roll! let's go! ♪ >> i haven't seen my father in about 25 years. it's so good to see you, dad. >> yeah. >> how you been? >> i been okay. you been out of trouble? >> i've been out of trouble, but you haven't been paying mommy any child support at all. >> i send a check, but she doesn't get it? >> the check's in the mail, i guess. i haven't got it. >> can i measure your tongue? >> yes. >> wow, that's long, huh? >> yeah. >> 0 you're "jimmy kimmel live," what happened to the rest of your clothes? >> i don't know, someone stole it on the way here. will you chase them down? >> i will. kiss. >> yes. >> wow. i have a personal question to ask you, will you come to a private place with me? >> that depends. >> yeah? trust me, it will be fine. >> okay. ♪ >> tell me about the '80s? >> what do you want to know about them? >> the '80s were the best year, huh? >> i don't know if they were the best years but they were definitely years. will. >> will you

we were aware of the little rock nine, nine black youth who tried to integrate central high school inittle rock. we were aware of rosa parks' efforts to deseg grait public busing in montgomery, part of the montgomery bus boycott movement. and so we had to beware of the potential for some very negative dangerous things that could have happened. at the same time it certainly seemed like something that was socially just, socially righteous, and made sense. >> so we decided to use the non-violent approach that dr. martin luther king used here in the united states. so we did this role playing at st. peter claver church, the basement of the respectry. we'd go there and sit on stools and we practiced how we would react if we were pushed or insulted in some sort of way or called out and we did this over and over until we felt comfortable in using the non-violent approach. >> this is the site of the dockum building where the dockum drugstore was located. obviously, it's under reconstruction right now. i'll just point out at least there is one structure that is still located here, and that's this ro

we have head of global rates investment over at black rock joins me here this morning.lcome. >> interesting coming off their conversation. ten year at 1.54 now. do you think we just saw in the last couple of days the point of maximum pessimism or not? >> probably not, carl. there is probably some more to come. we may take a break here for a bit. there is some reasons to believe that. you have an ecb meeting coming up. it may be somewhat dovish in the press conference. you have fed meeting -- i'm sorry, bernanke is making a speech on thursday in front of the jec. he should be dovish. we should talk about. that more importantly, there may somebody solution here in the interim between spain and maybe the esm that we can get something going for the month. but i think as not progresses, you're going to see more bouts of lower yields. >> so 1.5 is not -- how you would characterize it? >> i wouldn't characterize 1.25 as out of the question. i would consider u.s. yields in the context broader of safe assets. they don't look that bad. the payroll number on friday depends again o

. >> johnny depp looking cool was honored with the mtv generation award then rocked out with the black cease. jodie foster looking hot as well. she presented the top prize to the "twilight" cast. she'll be 50 this year, believe it or not. and rob's favorite, jennifer aniston, who played in horrible bosses, got the best dirt bag award. >>> a 20-year-old who plays the ch cello has a big year to look forward to. >> miss usa 2012, rhode island! >> that's olivia copo, the new miss usa. she was asked about transgendered contestants. she said it would be fair for man who became a woman to be awarded miss universe. go rhode island. >>> a fifth grade student from minnesota is handling a full-proof absence note this morning. >> tyler missed school to see the president. the president wrote a note, dear mr. ackerman, please excuse tyler. he was with me. >> the best note he'll ever get. we'll be right back. what ? customers didn't like it. so why do banks do it ? hello ? hello ?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello ? ally bank. no nonsense. just people s