john blackstone there. >> when you're going to take their guns, they're not happy. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds-- unless it's saturday. the u.s. postal service added that qualification to its legendary motto today. the service is broke and it will drop saturday mail delivery in august. the troubles of the postal service are as big as the agency itself. the u.s.p.s. delivers 40% of all of the mail on earth and it has more than 522,000 full-time workers, which makes it among the top civilian employers in america. but the age of e-mail has turned out to be a much bigger challenge than snow or rain or gloom of night and here's nancy cordes. >> reporter: saturday mail delivery dates back to the inception of the postal service itself in 1863. but today the postmaster general said times have changed and his agency must, too. >> when you lose the first class volume that we've seen

just ask blackstone president hamilton entony james.ie gasparino has the exclusive details on this huge fund-raiser. >> you know him well, i'm assuming? melissa: well, from around. >> interesting guy. worked at various jobs around wall street. went to work for steve schwarzman at. been a huge fund-raiser. this is perfect example why, this administration sort of equates tobacco or cigarettes with private equity. melissa: great analogy. >> like mitt romney worked for private equity. private equity took companies private. some of them worked, some of them didn't but sort of a bad industry. as you know it is not. many private equity companies create jobs. there are some cases where they don't but it is pretty good. tony james from what we understand has quietly reached out to the administration since the re-election in november to try to get a job at, in the administration, some sort of senior post, presumably economic post and he has been given the cold should. the cold should. he is essentially been told, not now or maybe not never. kind

john blackstone takes us on a hunt for weapons, next. >> reporter: it's tense work. the people the agents are looking for are convicted felons or mentally unstable, and they have guns. guns. try zyrtec-d®. powerful relief of nasal congestion and other allergy symptoms -- all in one pill. zyrtec-d®. at the pharmacy counter. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache

john blackstone has the debate. and you've got to love todd love. the marine lost his legs and one arm but chip reid found that's when his life really got started. >> i feel like i can do anything i can put my mind to. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. hard to imagine what was going through the mind of jimmy lee dykes, but we are told tonight he had stored home-made bombs in his underground bunker where he held a five-year-old boy hostage. dykes was killed outside midland city alabama late yesterday when an f.b.i. assault team attacked the bunker on dykes' property and rescued the hostage. the boy, whose first name is ethan, was taken last tuesday after dykes attacked a school bus in search of hostages and killed the bus driver. our coverage tonight starts with mark strassman in midland city for us. mark? >> reporter: scott, over the course of a week of negotiations, the f.b.i. and dykes developed a routine. he would ask for supplies. they would leave them at the entrance of his un

listen, blackstone, one of two things are going to happen. 9% dividend in blackstone. going to go down for one of two reasons. they're going to cut it or the stock is going to go higher. i think it's going to be the latter. talked about it for awhile. bx is my top trade. >> what do you make of this rally as we are approaching the record highs. is it a rally you can write home about? it's built on defensive stocks advancing. health care, staples hitting ne. but we don't have the participate of materials -- >> you did have trannies yesterday. trannies yesterday, when they exploded to the upside, partly with the trade that guy adami talked about, that ksu. beautiful trade. guy's been on it for awhile. you look at cp, canadian pacific. both rails doing phenomenally. and the fact that the trannies are more or less giving you an endorsement of that higher high that weevil been p that we've been putting in. i think we get a little bit of a pull-back, but i'm not looking at a major one. >> one of the most bullish men on the street is sounding the alarm. let's welcome tom lee f

blackstone continues to perform.k is another one to watch. >> i love it when the graphic is delayed and you have to wait for the tumble weed to go across the screen. >> our crack staff should do a better job. >> up 8%. >> interesting day today. 52-week high today and reversed. same thing a week, week and a half ago and rallied. it is worth watching again. i wasn't impressed by the way it traded today. be a little careful tomorrow. >> all right. now, onto the bad. about a month before his blackstone call, guy made the bear case for fedex in a "fast money" street fight. take a listen. >> quarter wasn't great, and they said some things that were sort of shaky going forward but the market reacted in a positive way. i would take this opportunity to get out of the name. but price doesn't lie. maybe you have another day tomorrow. >> up 16% since that -- >> wait a second. they have to freeze frame it. what was interesting, the next day it did go higher. that was december 19th, day after my birthday. >> is the baby crying --

blackstone, wayne hughes, public storage has great vehicles, three or four great institutions who are buying. housing has always been a debate between consumption and investment. our government said it's consumption. in the cpi, you have 43% of cpi based on the rental value of housing. i think investor phenomena has helped the economy because it's taken that shadow inventory out of the banks, along with regulatory capital rules. but, for sure, along with that comes a resurgence of confidence. phoenix, home prices have gone up 22% in 12 months. is that because we were all there buying? for sure. there were only 50,000 housing units a year that the banks were producing to be bought. that produces some pressure on the individual who, you know, i really want to buy a secondary house. now, i don't have the ability to do it. >> we'll talk much more about the housing trade through the rest of the show, certainly. quickly, before we move on, how many homes are we talking about in the portfolio of this investment vehicle, if you will, that you have? are we talking thousands? tens of thousands?

the valuation data points, blackstone group, which is obviously smart money, just did $9 billion valuationecondary private stock markets, it trades at roughly $8.5 billion. it's very close. the fact is, twitter, frankly, is a low cost cash machine. and they've just turned on that cash faucet last fall. let me give you some points. number one is, it's the, what's called rtm, real-time marketing, which is something that a lot of people, unless yourself in the digital media social space don't understand. perfect exactly, espn, right? they spend big money, advertising now on twitter and if you are -- during the super bowl, they have a promoted tweet, so, as, literally, as the score changes, who is ahead, that ad continues to change in real time. >> right, so, obviously, very different from some of its competitors but in terms of applying valuation metric, you have the blackstone stake to help you compute that. but can it be -- is it comparable to others -- can we say facebook trades at this and it's worth x per user and so therefore -- >> let me give you secret information -- >> love secret, g

creative in a number of different situations, but i do want to say that supervisor chu and kama blackstone of her staff have stayed with us and dialogue us with to make sure that we do the best possible. i want to say to the individual who testified about being in a vehicle not over sized and certainly we will extend whatever resources we can whether the ridiculous is over sized or not. >> >> clear clee we want it to go better and i feel this legislation has given us impetus to talk to the mayor's office and we need more resources for stabilization beds. i have been fortunate -- this is a year yesterday that i have been doing this job and so i really have been grateful for the constructive engagement that i had with the coalition and i really appreciate that people have come forward that perhaps have never come to a board of supervisors before and testify and talk about their circumstances and that in of itself is a very positive step. that is something good because it gives us an opportunity to engage and understand better and to hopefully be more effective, and so i just want to pledge t

. >>> and from blackrock to blackstone, blackstone has received a underwritings license expanded to investmentfinancial times says blackstone will use the license for now to serve clients on corporate structuring and workers. it doesn't rely on a team of salesmen and analysts. shares up about 1% on the news, also doing quite well over the last quarter. now twitter says hackers attacked its site last week and may have gained access to passwords and other information for from as many as 250,000 users. the attacks were sophisticated and involving the "new york times" and "wall street journal." twitter says the has ae set passwords as a precautionary measure. others were told to change their passwords just as a precaution. we know a little bit about twitter here on "worldwide exchange." in fact, we love getting your tweets, so keep them coming. hopefully you weren't affected by the incidents. let's get a check off european markets, though, and see what's happening today. we're seeing for the most part red arrows. now, the ibex, look at that. just crossing a 1% decline for the day. the ftse 100, do

john blackstone, cbs news, san francisco. >>> straight ahead, your weather, and in sports a race againstme for lindsey vonn. the skier suffers a devastating injury with just over a year before the winter olympics begin. can't always move the way she wants. now you can. with stayfree ultra thins. flexible layers move with your body while thermocontrol wicks moisture away. keep moving. stayfree. for hollywood's biggest stars. who is it for? it's for becky. now, he designs for the star in your life. neil lane bridal. hand-crafted rings. at kay -- the number one jewelry store in america. ♪ every kiss begins with kay at kay -- the number one jewelry store in america. it'and start talking aboutt whawhat you really wanthroom. from your toilet paper. it's time to talk about clean. feeling clean is so important. i use quilted northern. quilted northern soft and strong is stronger than the leading value brand, for a confident clean. [ sad music playing ] [ knock on door ] your bags, sir. both: finally! one taste, and you'll understand. enjoy dunkin' donuts coffee anytime. pick some up where you bu

john blackstone has the debate. and you've got to love todd love. the marine lost his legs and one arm, but chip reid found that's when his life really got started. >> i feel like i can do anything i can put my mind to. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. hard to imagine what was going through the mind of jimmy lee dykes, but we are told tonight he had stored home-made bombs in his underground bunker where he held a five-year-old boy hostage. dykes was killed outside midland city, alabama, late yesterday when an fbi assault team attacked the bunker on dykes' property and rescued the hostage.

john blackstone is there. >> when you're going to take their guns, they're not happy.ing sponsored by cbs this is the "cbs evening news" with scott pelley. this is the "cbs evening news" with scott pelley. >> pelley: good evening. neither snow nor rain nor heat nor gloom of night stays these couriers from the swift completion of their appointed rounds, unless it's saturday. the u.s. postal service added that qualification to its legendary motto today. the service is broke, and it will drop saturday mail delivery in august. the troubles of the postal service are as big as the agency itself. the u.s.p.s. delivers 40% of all of the mail on earth, and it has

excerpts from this resolution and i want to take a moment and thank her incredible staff, kenny blackstone and soon to be supervisor katie tang with whom we look forward to serving together, who helped to draft what i think is an outstanding resolution. and just a couple points from it. whereas supervisor carmen chu has served the people of the city and county of san francisco with dedication for five years, whereas supervisor chu was happily crunching numbers and keeping the city fiscally sound as a deputy budget director when she was appointed in september 2007. whereas supervisor chu not only brought her trustical klatch era long with her to the board of supervisors, but also her budget prowess, all of which were of incredible importance as she served four out of her five years on our board's budget and finance committee and i would just add to this surpassing the expectations of her toughest critics. whereas supervisor chu served on the golden gate bridge highway and transportation district board, the county transportation authority, abag, health system board member. whereas supervisor

john blackstone shows us why two of his final victims say he didn't seem like a bad man.ilence. they're the owners of mountain vista resort where alleged cop killer christopher dorner had been hiding the day police tracked them down. on a routine check of one of their units, dorner surprised them from upstairs. >> and he opened the door and came out at us. he yelled, stay calm and ran out. >> he talked to us, trying to calm us down and saying very frequently he would not kill us. >> he said, i don't have a problem with you. i just want to clear my name. >> reporter: dorner had been apparently keeping an eye on karen and jim for days. although he broke in and tied them up, he felt compelled to pay them an unexpected compliment. >> he said we're very hard workers, good people. he saw us working on the snow every day. >> he saw me shoveling the snow. >> dorner left the couple behind and tried to take their car but he soon returned asking them how to start their keyless nissan. later the reynolds managed to undo their restraints and call police. a few hours later manhunt was

here's john blackstone. >> boy scout troop leader steve tennant and his 16-year-old son christopher have been involved in scouting for the last five years. they are straight, but don't like the policy excluding gays. >> i have a huge problem with that. >> reporter: what did it feel like when you heard that a local troop had thrown out a kid because he was gay? >> i was shocked. shocked and amazed. appalled. i couldn't believe it. >> reporter: the teen thrown out last october was 18-year-old ryan anderson, who was about to become an eagle scout. >> getting my eagle award taken is totally devastating. hearing that it's happening to other scouts is also totally devastating. >> i can't imagine ever doing that to a boy. but that's what this policy would have me do. >> reporter: but others in scouting warn about quickly changing the current policy banning gays. kay godfrey is with the salt lake city scout council that has over 100,000 members. >> we were caught completely off guard with it. we've had a policy that's been in place for over 100 years that seems to have functioned, to the most pa

for "cbs this morning," john blackstone los angeles. >> and cbs news legal analyst jack ford.o pay that reward money, especially to the hostages? >> the question here is this an enforceable contract. we're going back to the first year of law school. well, if you don't have a document that's signed by both sides, it can't be a contract right? the answer is no. you can have a contract an oral side of contract. both sides, there's an offer. starting off, yeah there can be an enforcen't contract, here but the big question is what's the wording and what do the people on the other side do and does what they did fit within the confines of the wording here? >> you know i think the every day reaction is this is kind of lame. the people called them in. shouldn't they get the million dollars. j.b. and i are saying should there be public -- >> the question is we're seeing a little bit of reluctance. we saw one of the officials a few moments ago say here's what the deal is. for the apprehension capture, and conviction of this guy. now, if that's what the offer says and if you don't want to

. >>> blackstone has decided to keep most of its money with sap capital. the hedge fund owned by steven cohen that's at the center of an inside trading investigation. blackstone had threatened to pull its fund but has received more favorable liquidity terms. the company has 550 million as sac announced it will give investors another three months to decide if they're -- the firm by tend of the year. >>> and nasdaq is turning on the lights a few hours early today. it will move the start of its premarket trading session from 7:00 to 4:00 eastern. it allows asset toes generate fees on stocks from european traders. it won't start from today. i misread that. >>> still to come on the show, as well, central banks took a real shine to gold last year. why did they snap up more than usual? more on gold, the pressure metal, when we come back. >>> all right. u.s. futures right now suggest a negative start to your stocks as we get under way a little later. not by much, s&p currentdy down 2 points, the dow jones down 6 and the nasdaq down 2. it's pretty flat here in euro

we sent mo rocco and phil blackstone out to see if one town can outdo the other beyond the field. >> category. >> awe cable cars are adorable. of course the baltimore and ohio was america's first railroad. railroad. that's a cable car for grownups. >> you're on the right track if you're heading west because san francisco has unbeatable seafood. check out these huge dung nous crabs at fisherman's wharf. >> the blue crab is the most popular crab it is. it's a maryland must just ask hall of famer cal ripken junior. >> blue crabs, they're the best right here in baltimore. >> don't argue with him. he's in the hall of fame. >> with respect, no team has more hall of fame players than the san francisco giants. the giants have more wins than any other franchise in history. >> well we'll agree to disagree. besides, both cities have bay bridges. >> that's right. but our bay bridge is a tenth of a miler longer and it's not even the most famous bridge in town. that title, of course, belongs to the golden gate. >> baltimore has tunnels, some are gold inside. we can't show you right now. it's too d

john blackstone shows us why money is an issue. >> reporter: with the police on high alert for a copnervously wondering where the next shooting might be l.a.'s chief of police announced help finding christopher dorner would be richly rewarded. >> $1 million, this is the largest local reward ever offered to our knowledge. >> reporter: two days later, dorner was cornered in a fiery gun battle that came just after two separate sightings reported to police. karen reynolds with her husband, jim, called 911 to report dorner had tied them up and stolen their car, potentially making them good candidates for the money. >> we didn't even think about any of that until sitting around the sheriff's station, we just started joking about it. >> reporter: another possible candidate, rick heltergram. he was carjacked by dorner and said he reported that immediately to the local sheriff's deputy. >> i called him, he said what you got rick? i said paul he just took my truck. >> reporter: it may not who gets the reward but whether anyone does. it may have been offered with a catch. >> the reward is for t

john blackstone tells us why two of his time victims say he didn't seem like a bad man. >> hello, were. >> karen and jim reynolds are breaking their silence. they're the owners of mountain vista resort, where accused cop killer christopher dorner had been tracking them down. on a routine check on one of their units, dorner surprised them from upstairs. >> and he opened the door and came out at us. and he had his gun drawn. >> he yelled "stay calm" and ran out. >> he trucked to -- talked to us, trying to calm us down and saying very frequently, he would not kill us. >> he said, i don't have a problem with you. i just want to clear my name. >> reporter: dorner had been keeping an eye on jim ask karen for days and although he had broken in and tied them up, he felt compelled to pay them an unexpected compliment. >> he said we are very hard workers, we're good people. he talked about how he could see jim working on the snow every day. >> said he had been watching us and saw me shoveling the snow. >> reporter: dorner left the couple behind and tried to take their car. but he soon returned.

john blackstone reports for wjz. why money is now an issue. >> reporter: with the police on high alert for a cop killer. and the whole region nervously wondering where the next one might be. l.a.'s chief of police said a reward would be offered. >> $1 million. this is the largest local reward ever offered, to our knowledge. >> reporter: two days later, dorner was caught in a gun battle after two separate sightings. carol reynold and her husband jim called 911 to report that dorner had tied them up and stolen their car. potentially making them candidates for the money. >> we didn't think about that. >> reporter: another possible candidate, rick. he was carjacked by dorner and reported that immediately to a sheriff's deputy. >> i called him directly. >> he said, what you got rick? and i said, paul, he just took my truck. >> reporter: it may not be who gets the reward but whether anyone does. it may have been offered with a catch. >> the reward is for capture and conviction. >> does this let them off the hook? >> better

black rock -- blackstone. engine private equity firm.ck to my other story, which is the banks. lots of investment bankers are telling me if there are board. clear discussions at the board, and dutch soldier at the show that this would be the year you might see a bank break up. it will clearly be -- liz: and i asked because of the time you thought it might be a big u.s. bank that got caught up. it's not me and i have no clue. liz: heated talk about what people are starting to talk about this inside these various. i hear the most likely suspect and where there is some talk is barclays. a huge u.k. bank under lots of trouble. you know, morale is low. an ico. they have been hit on the scandal and other issues. liz: a pretty chart. >> it has been down lately. any event, we should point out it is an ugly charge is the fun is a crisis. liz: isn't everything? >> no. goldman is doing better, some of the big u.s. banks are doing better, but this is a lawyer is the likely candid to spin off the investment bank if someone does it. we do know at leas

however, as john blackstone reports, his final victims said dorner did not seem like a bad man. >> hello >> karen and jim reynolds are breaking their silence. they're the owners of the mountain resort, where christopher dorner had been hiding, the day police tracked him down. on a routine check of one of their iewnltsdzs, dorner surprised them from upstairs. >> and he opened the door and came out at us. and he had his gun drawn. >> he yelled, stay calm. and ran out. >> he talked to us. trying to calm us down. and saying very frequently, he would not kill us. yeah. >> he said, i don't have a problem with you. i just want to clear my name. >> reporter: dorner had apparently been keeping an eye on karen and jim for days. and although he had broken in and tied them up, he felt compelled to pay them inn unexpected compliment. >> he said, we are very hard workers, we're good people. he talked about how he could see jim working on the snow every day. >> he had been watching us and saw me shoveling the snow. >> reporter: dorner left the couple behind and tried to take their car. but he soon retu

he co-founded the private equity firm the blackstone group.joining us is john nichols whose latest piece is, "the austerity agenda: an electoral loser." it is part of a major exposÉ based on a new website called pete peterson pyramid. lisa graves is an editor of the site, which links billionaires like pete peterson to the campaign to fix the debt. john nichols, lay out who pete peterson is and how he fits into this picture of sequester that we look like we're about to see by the end of the week. >> pete peterson is an old school moderate republican. he is not some sort of hard-line conservative. he is a very expensive suit, a private jet, mineral water kind of guy. he has been obsessed for a number of years with restructuring the u.s. economy, in particular, u.s. fiscal policy. this is important. pete peterson and the people around him do not want -- i was a just particularly interested in fixing the dead were dealing with deficits. what they're really interested in is taking advantage of a moment when the united states is looking at these iss

blackstone valley is a great example. i am sorry the senator left. the redesigned the visit to actually have the providers working at the top of their scope, bringing in more assistance to the nurses and to the health centers. they saved over a million dollars just at one help center, looking at total medical expense. in claims data, you can actually see where patients go. at the health center, you have a medical record of where they have come to see you, but do not have experience in terms of the hospital or mental health. as long as it is medical care center, it aligns the thinking of on both financing and delivery for our patients, so we think about the total medical expense, and make interventions in primary care that matter, in terms of the outcome and finances. >> there is an estimate that we have a $24 billion savings from the current community health centers. part is coming from keeping people out of emergency rooms. part is coming from integrated care. it is a different specialist -- not specialists. different kinds of providers. it is also

we heard about the blackstone hotel with the smoke filled room and harding was chosen to be president. but there was a rebellion the senate was running the whole thing, the republican convention. and out of that rebellion someone said i'm going to nominate a governor. they thought lame root would be an in-between, mild republican progressive from the midwest. they said let's get a governor. so it was a westerner who said coolidge for the vice president. he's a governor, let's have him. there was a lot of pause all of a sudden at the convention. and that's how coolidge got it. i would estimate to lodge's displeasure. >> you say that after calvin coolidge was elected in 1924 as the president elected after the death of harding and all of that, that his vice president was charles dawes and they didn't like each other. >> some of that was his own sanctimony. he was the rogue deputy from hell. >> how did he get picked? >> he was a wonderful man. he was in charge of procurement in world war i, getting stuff for the generals to the front line. he gave a famous speech called the helen maria wh

our next guest is a private equity expert who worked with solomon brothers and was with the blackstonelso with the office of management and budget with the reagan administration. >> david stockman, of course, believes we're now in a new housing bubble, a bubble in danger of popping as soon as the fed stops stimulating the economy. his new book is out in a few weeks. it's called "the great deformation: the corruption of capitalism in america." also with us is diana olick who reported on the worries of a new bubble earlier this week. good to sigh both. david, how is it possible a few years after a devastating recession that devastated our housing market, how would it be possible that we're already in a bubble again in your view? >> it's just starting, but the fed is a serial bubble machine, and i think we're entering housing bubble 2.0. there is a flood of fast money coming into the housing sector from wall street, and we have absurdly low mortgage rates on main street, and you put those together, and they are lifting the market rapidly right now, but it's not sustainable. when interest

take a listen to what blackstone's byron wean has to said. >> i still think we're going to have a correction. the market started with investors complacent. now, they are almost euphoric. everybody you have on the program thinks the market's going higher. we've got a lot of hurdles that we've got to get over. >> so, is it time to get bearish? let's bring in doug cass, president of seabreeze partners manage. he joins us on the "fast" line. good to speak with you. >> hey, mel. >> you have two major reasons why you are bearish. sentiment, as well as valuations. let's talk about valuations. you say they are now at five-year decade averages. you compare levels to where we were compared to five years ago, which is, you know, i guys the comparables, now in terms of the dow and s&p 500, valuations actually look pretty decent to where the markets were last time around and companies are much stronger. why do you think valuation should be an alarm bell for this rally? >> because -- two reasons. first, the secular challenges are unprecedented. we are in a period of slower growth. ultimately fundamentals

blackstone's byron wean not buying this rally saying investors need to be suspicious of the wave of euphoria and focus on the fundamentals and joins me on the telephone. good to have you on the program. thanks so much for calling n.appreciate your time, byron. >> always good to talk with you, maria. i think you had a lot of good ideas presented by the other people earlier. there were a lot of cross-currents today, and they should give investors some pause. >> what concerns you the most, byron? >> fundamentals are really key here. >> what concerns you the most, byron? >> well, i'm concerned about the fact that people are oblivious to the fact that the 2% payroll tax is over. people will have less money in their pockets. the sequester looks like it's going to kick in. there's an increase in taxes at the high end. so i think that the government is going to be spending less and consumers are going to be spending less, and that's going to have an effect on the economy. but i'm also concerned that profit margins are going to be squeezed. revenue growth will be modest and some costs will increase,

first and foremost, seeing a lot of institutional money coming into the situation, jpmorgan, blackstonecoming in and buying inventory. secondly, waiting to see the banks on the net interest margin and once they get the nim in place, they will incentivize the loan. we want to be buyers 2002 in 2013 we'll see continued growth in the home building space. >> what do you say about the charts, how does the home building inteams, the eft, how does that look to you in terms of the technical aspect? >> looks very extended and refreshing to see barclays come out and actually sell when the stock prices are high. if you look at the 18-month chart from the october 2011 low, you can see the stocks have been -- the efts have been in a strong uptrend. more than doubled since then, been in a tight trend channel and i think you're going to see selling pressure ensue. the level i think is where support lies where i'd be more of a buyer here, but i think you pear back your gains. >> sounds like both of you believe the fundamental story but think it's extended. the valuations bother you. >> they are certain

. >> there's one stock, blackstone, we talked about it. it's pushing up towards $20.it closed at $18.75. it's had trouble there in the past. mid '08, early 2011. appears as though it's going to have trouble again now. i think it's headed there. my sense is, third time's the charm in bx and i think it continues to go higher. >> b.k. mentioned a news vacuum. there is a big event this earning. and that could be, in fact, the key to the rally. may be in d.c. with the president set to give his state of the union address this evening with jobs and the economy in the centerpiece of this address. take a look at some of the sectors that actually moved ahead of the speech here. we saw nice pops across the board on cyber stocks. expectations that the presidents could issue an executive order. clean energy stocks continuing its run, as well. so, we saw solar stocks across the board going higher today. we should note, cnbc will have full coverage of the state of the union address tonight at 9:00 p.m. eastern time. let's get more on what we can expect here. the senior analyst at gu

just six minutes away from the bell and blackstone advisory will tell us how he's advising in this marketlosing bell." ♪ [ male announcer ] to hold a patent that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. ♪ to hold over 80,000... well that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for exceptional offers through mercedes-be financial services. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >>> all right. welcome back to the floor for the closing countdown. the best two days back-to-back of the market year to date after we had the worst two days back-to-back year to date with friday and monday. surprising to a lot of peop

they're just financial speculators at blackstone. it's crucial that they're making huge fortunes while not doing anything productive. so they'll do anything they can to argue we are in terrible trouble if we maintain government services that actually help real businesses do business like airlines and food companies. >> i guess when i look at the numbers that are playing out right now, you have to have the question, is deficit reduction an urgent problem that needs to be faced? because it seems like the president's plan wants to take care of this over time. that if we, you know, mind our p's and q's financially, and don't go off into war and not pay for them, that we are strong as a nation, and our economy is strong enough to recover from this piece by piece. what about that? >> well, this is where i would be critical of the president, ed. i think we would have faster economic recovery if we weren't laying off police officers and firefighters and school teachers all over the country. if you look at the reagan era, one of the things re

so we sent mow rock california and john blackstone out on the streets of san francisco and baltimore reporter: all you have do is look at the mechanical marvel of the san francisco cable cars climbing the city's steepest hills to understand in this battle baltimore has an uphill fight beating this city in any category. >> reporter: aw. cable cars are adorable. of course, the baltimore in ohio was america's first railroad. railroad. that's a cable car for grown-ups. >> reporter: you're on the right track if you're heading west because san francisco has unbeatable seafood. check out these huge dungeness crabs. >> reporter: but this is a maryland's must. just ask baltimore orioles legend cal ripken jr. >> they're the best right here in baltimore. >> reporter: don't argue with him. >> reporter: with all due respect, no team has more fans than the giants and the giants have more wins than any other franchise in franchise history. >> reporter: we'll agree to disagree. besides both cities have bay bridges. >> reporter: that's right. but our bridge is a ten ofgt a mile longer. and that's not

this is a great thing for housing, a ton of cash going into housing, funds going into housing, blackstone ton of money into the market, they are buying up 16,000 homes, not going to sell them at the same time. charles: they're going to rent them. this is what i am wondering. when does the general public and get into this? you got the cash, the investors, that is fine because it helped us hit carrot firma but the notion that housing is warring back, it seems like i don't know, doesn't seem like it is reality with respect to most americans. >> the general public is coming around. we had to get through -- even though foreclosures are down don't let that fool you. a lot of foreclosures to get through especially in judicial states. organically people are starting to sell. people who were raise out of a position where they don't have to short sellers are not going to rent. they are going to turn around and become more fired. this is a cycle we will see five to seven years and is a good one. housing is leading the way out of this mess. charles: i hope that is true. i do really worry about where