then there's names like local car rental in brazil and dufre, the duty free in brazil. vale and petrobras are the big blue chips in brazil. those will get more flow. there's also a small cap etf, ticker br frchlt. it's the market vertical small cap brazil etf. we think that's an easy way to play the small caps. trades about 10 million a day, so it's pretty liquid. that's another name we like to play, small caps for brazil. >> the other good news for brazil this year, the huge oil find off the coast. >> yeah, petrobras has discovered a lot of oil offshore on the pretty solid area. that's kind of a long-term investment theme for brazil but it's definitely a sizable find. so there is going to be investment needed to bring it out of the ground, but yes, it's definitely another positive for the investment case in brazil. >> what about security? do you remember the movie "city of god" which was all about the horrendous crime levels there and the gangs that could take over the city at some point? they're going to have to do that as well. >> yeah, crime is a problem in brazil.

. >> but brazil -- >> in buying the commodity story in brazil, we read in the paper about the big oilre, and increasingly, they're less of a commodity importer, even though i think they're still only a net importer on that score. >> there's a lot of great things coming out of brazil. i think that you're going to have a lot of noise around that you're going into a presidential election here. this ends next october, so you're going to have a lot of noise around populism about how those revenue-sharing agreements are structured on those new oil finds. i think investors need to realize that emerging markets are not just a source of cheap labor and a source of cheap raw material. they're a great dynamic domestic economy. that's where you should look. >> jim, last word. >> no, i just -- i agree with almost everything he said. i didn't like the commodity part, but everything else, we're 80% on the same page. i think brazil is the place to be and it's got the momentum going forward. >> don't be an olympic type -- >> don't buy the olympic hype, but wait. >> but it's a good long-term play. than

brazil has as big an economy as the u.s. they're coming and they're capitalist and it's something to celebrate, and they're good at celebrating. >> if there's one thing they have down pat, it's the celebration part. it will be hard i think to match the spectacle that china put on for the summer olympics. that was -- >> don't forget brazil does it every year though, right in they do it every year with carnival. they do mount big, big events every single year, and i can't emphasize enough how exciting it is to have seen these changes in brazil when the president was running for office, their currency tanked. some bank stocks in america got hit hard because they had exposure to brazil. they were so worried that he was going to ruin the country, and instead he's done phenomenal things by embracing things like balanced budget, things they haven't done for so long. >> this could be an infrastructure play right there. tele brasil is rallying right now. >> that must be the brazilian etf, wisdom tree. >> up half a percent. >>> let's

but brazil's cost of borrowing, brazil's valuation coming down. it is rerating.his has a mechanical impact on stock valuations. it is good news. i just think a lot of this had been priced in, people who were following brazil had been expecting this, but i talked about the world cup. i would take this with a grain of salt. brazil's a fantastic investment opportunity. they were upgraded gdp this year to 5.3%. it's a good story. >> statue, thanks so much for coming on. zach's book is called "super fusion with why the u.s. and china became one company and why the world's prosperity depends on it." which is out october 13th. zach karabell. time now for "analyze this." financials rebounding after a rough start this week following ken lewis's revelation that he would be stepping down at the end of the year. could it be that banks will go from worst to first in the fourth quarter? christopher whalen is co-founder and managing director of institutional risk analytics. he joins us on the fast line. christopher, great to have you with us. >> hey. >> right now what is your a

cup that brazil won in 2014.ow with the olympics you're going to see a huge amount of infrastructure investment. a huge amount of projects. it will be good both for brazilian companies as well as multinationals in this area. you're still going to see an immense amount of growth given the infrastructure and the need for construction that they're going to have to prepare for the games. >> one of the things that brazil talked about doing is expanding its courts, actually similar to what greece did when it hosted the olympics. not necessarily building tons of hotels it may not use in the future, but really expanding its ports which could, in turn, lead to future growth in terms of their import/export business. what is your take on that? is it a smart strategy? >> absolutely. i think what you have to look at is we have to hope that the host of the olympics will invest in infrastructure which has lasting value. a lot of times you've seen a buildup of assets no longer usable such as sports arenas. which is obviously goi

favor of. -- in brazil's favor. in rio de janeiro, but a huge amount of sadness not only in chicago but also in america. we are now getting breaking information from president obama who lobbied so hard to get these olympics brought here. we have reaction from robert gibbs from the president, right? >> yes, i believe we do. that would be coming from air force one. you probably have it on your e- mail. what i'm going to ask you to do is give me that information while our tell our viewers what the senior white house adviser said on fox about an hour ago, which is the politics of the international olympic committee are very difficult. he told me afterwards they are probably more difficult than the politics of chicago, which is saying something. he also said that the president has no regrets, and what has become evidence of the white house is that the president made this trip along with the press lady, who was already scheduled to go because the chicago committee down the stretch was very deeply anxious about their big f

jane: the president of spain, brazil, and japan also made the trip. so president obama was certainly not the only head of state to make the pitch for their nations, as he pointed out. a little more years. tokyo has been eliminated, and now it is to madrid and real. we're told that this is direct from copenhagen, and the election is over. a city has been chosen. we're told we will get the announcement in about 50 minutes from now, that is what they have scheduled. jon: it is my understanding that the announcement is coming in just a couple of minutes. the vote has been taken and that announcement coming up in just a couple of minutes. maybe we can take a couple of pictures from those cities. i believe we have cameras in rio de janeiro, for example. jane: we're waiting for reaction from the white house and from other cities. it really was thought to be the front-runners in a close tie with real. we have another breaking story want to get to prepare a wedding for the manhattan district attorney to address reporters, talking about david letterman's case.

we play brazil by going to spain.e're like the lincoln brigade except we're not affiliated with uncle joe stalin. s to r as to be distinguished from my real uncle or at least great, great, great uncle vlad lenin. this is just like winn's ipo of its macau business in hong kong. talked about that. i thought winn was a buy because its macau business would give the independent valuation that would make people realize that wynn should get some credit. the principle here is the same. banco santander, the parent, which has operations all over the world, isn't getting enough credit for its ultrahot brazilian operations. banco santander is a $134 million bank that i believe after this deal will be less valuable than the sum of its parts. how long can that last? once its brazilian unit starts trading separately investors will see that. stock's going to get a boost. if santander's brazilian operations price as expected the rest of the bank is playing at an implied price to earnings multiple of 6.9 times earnings. that is super c

it is brazil's time and south america's time and it is rio's time. in fact, he cleverly stole or adopted the obama motto during the president obama campaign and, yes, we can. a lot of yes, we can, signs and chants from spirits back in rio de janeiro and also all the way to the presentations today, the general feeling amongst the media here is that chicago's presentation was pretty flat. aside from the president and michelle obama who were very good one-two punch, the rest of it fell, some people think, quite flat, as compared to rio's presentation which was uplifting, vibrant, colorful and positive. so, again, i wouldn't say anything was wrong or done wrong, it's just that chicago came up against someone better perhaps this year. >> jim maceda in copenhagen, thanks so much. >>> now, to the city that did lose the bid, chicago. john yang, let's talk about that contrast because i watched the two presentations here on foreign television and, frankly, the response of some of our colleagues here in europe was that chicago looked very american but that the

. >> party time in brazil as rio strikes gold. th the first south american country to host the games. there is a shocking chicago, the front runner is voted out in the first round. welcome to bbc world news. coming up later, still finding survivors for two days after powerful earthquakes in indonesia. prove he is alive, the first pictures of the captured israeli soldier, gilad shalit, are released. it will be the first time south america has ever hosted the olympics. four countries on four continents bid for the games and it was rio that beat off challenges from madrid, tokyo, and chicago. even a personal intervention by two obamas was not enough to sswing it for their home town. >> tonight, i have the honor to announce that the games of the 331st olympiad are awarded to rio de janeiro. [applause] >> the joy of finding out that four years of hard work had ended in success. they had defeated the world's most powerful man. the president that touched down just an hour before the chicago presentation. his challenge was to persuade the

president was ecstatic: >> ( translated ): brazil needed these olympics.zil has always been a great country, a important country with an extraordinary people. the brazilian people are extraordinary and they deserve this opportunity. >> suarez: but jubilation in brazil does not reflect the challenges it faces in a long sprint to prepare for the games. along with stunning beaches and scenic mountains, rio is plagued by serious crime, pollution and infrastructure problems, not to mention frequent clashes between drug lords and police. billions will be spent to ensure the area is ready for the world to arrive in 2016. after its selection was announced i spoke to christine brennan without covers the a loim -- the olympics. >> even the most pessimistic forecast didn't have chicago finishing last, at the bottom of the deck. what happened? >> you know, i think it was a simple case of the international olympic committee wanting rio and then in the case of madrid, the president that they cared pore about was not obama, but wanted the former president of the ioc. the

brazil has it, canada has it, guatemala has it. a lot of countries have it. he needs to get his facts together. >> assuming you are right there, and i did not know that. i have not looked at what other countries make you a citizen simply for being born here. but the point is that isn't a lie. >> okay. >> he made a mistake. >> it's ill informed. >> if you're going to talk that much, he has a radio show, he has a tv show. if you're going to talk that much, people are going to make errors and trip over themselves. to be constantly jumping down -- i mean, they treat fox news like, you know, they're stalin and every little thing has to be analyzed. >> that's not true. >> there's more respect for roman polanski than hosts on fox news. just yesterday little contessa brewer on msnbc was introducing jesse jackson and introduced him as al sharpton. that's a little bigger than making a mistake about how many countries say you're a citizen if you're born here. >> i'm not going to deal with contessa brewer here. >> if i'm defending glenn beck, you are defending contessa b

tonight, we are heading to brazil. brazil is ultra, ultra hot. it's steaming. the sexiest thing out of brazil is not gazelle. we like brazil and we like -- >> i'm a little conflicted as to whether to say hi or boo-yah. >> the latter is better. boo-yah from boca raton. >> i have a halloween boo-yah. >> very scary. >> boo-yah to ya. >> we have a lot of boo-yah things going today. i'm frightened now. trick or treat. my first reaction was classic miley cyrus. ♪ >> yeah, that's right, i was nodding my head like yeah. you have to do it like miley. i mean, i would have been moving my hips. okay. this show is great. cramer knows how to throw a party. i have to be careful. you never know when they are filming. tomorrow, we're working into the show. i have to call on all my investing knowledge. bring in every sage i have, including the team of investors like the black eyed peas. ♪ >> let's live it up, i got my money. let's spend it up. or do they mean spend it down? i have a feeling i'm a little late, like fill up my cup. moz >>> yesterday stephen in illinois made me fee

the president of brazil, got the prime minister of japan was here. king juan carlos, president of brazil are embedded within the bidding teams within the presentation teams and have been for quite some time. i think that perhaps makes a difference as well. >> you mentioned this, chicago. there wasn't much enthusiasm. there was some rioting on the street. the polling data showed a slight majority was opposed to the olympics coming to chicago. is that the kind of thing the ioc would have looked at? >> absolutely. they would have looked at that. remember most of the ioc members that are voting are ex-olympic athletes. so they are are looking at it through their eyes. they want a game where everything is being celebrated. it's the culture. the sport. where they know the venues will be well attended. where they will feel a warm welcome. i got to tell you in that respect, rio no doubt in their passion. they have been passionate from day one. i was with the presentation team last night. the passion oozes out of every important of that team. with the u.s. pr

instead, it is party time in brazil. hard to imagine how much this means there. the first time ever in south america, the first time for that country. they have seven years to plan. if only it would stop dancing. wendell is live in copenhagen with more. >> headed back to washington, robert gibson said that mr. and mrs. obama were proud of the presentations they made and glad they came to copenhagen to make the pitch. they only spent about an hour- and-a-half with the international olympic committee members. 14 hours in the air. the president aimed to trade on his own international popularity and to the decision to and what he considers the bush administration's unilateralism. >> there is nothing i would like more than to step in just a few blocks my family's home with michelle and our girls and welcomed the world back into our neighborhood. >> brazilian presidents luiz inacio lula da silva argued that it was rio's turn. there has never been an olympics in the southern hemisphere, and even opponents admit that it was probably their time. david axelrod says that th

dollars. >> ash a before brazil? >> they're a similar story in many ways. >> the big thing that happened with non-farm payroll, it looks like the u.s. might lag global growth now. maybe compared to europe, that may be why g-7 didn't make a statement on the dollar this weekend? are we going to be lagging the rest of the world here? >> i think we're going to be growing faster than europe. it looks like the same unemployment rates. we'll probably be able to bounce back a little harder than europe once the banks come back. >> asia grows the fastest. the u.s. is probably going to grow less than a core year. so the euro might be a better currency. >> i'm hearing very, very slight whispers, how about you, bob, of europe beginning to turn. it's the first time i've been hearing that, actually. a lot of people were saying companies, executives managing business on the ground saying, we're stuck in the mud. i'm hearing a little different tone now. >> and i would agree. but you've got france and germany, which seem to be doing w

in rio de janeiro, brazil, steve harrigan, fox news. gym we will show you how far the leaders of one show will go to show global warming and democrats may try to wrang al deal solving two political problems at once. (announcer) we understand. you need to save money. yeacl 's h fba icos y!tyft juneck yno itft'sse sut'cu tyftef (ckicli jim: and now the latest from the political grapevine. new york democratic congressman charles rangel is trying to hang on as chairman of house ways and means committee despite several ethics investigations and efforts to oust him, and new york governor david paterson is resisting efforts by democrats, reportedly including the white house, to get him to step aside for what some believe would be a stronger gubernatorial candidate. now a new york t.v. station reports some democrats have devise add clever plan to solve both problems simultaneously. sources say the idea calls for rangel to resign and replace him with paterson, giving him a dignified to leave state politics while also taking him out of the runnin

should you be betting on brazil as a result? we'll show you more on that at 4:00 eastern time. 100 years of engineering excellence is right on time. it's gmc truck month. shop sierra 1500 slt with the 403 horsepower 6.2 liter v8. it's the most powerful half ton v8 in its class. step up to the best. it's gmc truck month. get 0% apr for 60 months on 2009 gmc sierra or get $6,000 total cash back on select 09 sierra 1500 extended and crew cabs in stock. see your gmc dealer today. what's on the minds of independent investors? let's ask. when you're trading a stock, every penny counts. i hate when the trade is done and you find out you paid more than the quote price. i want it at the price i expect... or better. td ameritrade's unique trading platform uses multiple market centers to help you find the best possible price. i like those odds. i know they can't flat out promise a better price, but they're always looking for it. they know what matters to me. every online stock trade is always $9.99. not a penny more. and no maintenance fee

i do want to congratulate rio de janeiro and the nation of brazil for winning the 2016 olympics. i think this is a truly historic event, as these will be the first olympic games ever to be held in south america. and as neighbors in the americas, as friends to the brazilian people, we welcome this extraordinary sign of progress and the fact that the 2016 games will be in the americas. i had a chance to talk president almost ula and gave him a hearty congratulations and told him that our athletes will see him on the field of competition in 2016. again, i want to thank everybody who worked so hard to put america's bid together, not just mayor daley and the delegation, pat ryan, but most especially the thousands of chicagoans who volunteered over these past few years. they put their heart and soul into this bid. i have no doubt that it was the strongest bid possible and i'm proud that i was able to come in and help make that case in person. i believe it's always a worthwhile endeavor to promote and boost the united states of america and invite the world to come see what we are all ab

that's a big, big selling point for brazil.their games. that's another selling point. but chicago, of course, has the president, they have the first lady, and they have their secret weapon, and that of course is oprah winfrey. she's been doing a lot of one on one meetings as well. so much of the vote really comes down to relationships. the ioc members have to feel comfortable and they have to feel like that they are really being sold. so that's why the 15-minute session that mrs. obama held yesterday one on one giving the hard sell, that's why those were so important. we're told the president will focus on big picture, mrs. obama will speak from the heart. she's a chicago native. she's going to rely on that in her sell to the ioc. back to you. >> the closer for many reasons. reporting from denmark, thank you. >>> heavy search and rescue equipment as well as additional relief supplies are arriving in devastating areas of the south pacific. the death toll from two major quakes in indonesia is up to 1,100 and counting now. clarisa

he congratulated brazil of four earning the first olympics ever despite the loss that is coming with it. the president believes it was a worthwhile endeavor. >> the olympic committee's decision has left them absolutely stunned. >> we don't even know what to say. >> chicago was considered a front-runner, especially after president barack obama flew into the capital to help with the final bit presentation when his adopted city was ousted early. >> it was the strongest bid possible. i am proud that i was able to come in and help make that case in person. >> now that the high-profile lobbying crashed early and embarrassingly, critics are attacking the effort. >> the world rejected obama first. they believe this is a huge black eye for the white house. >> he is powerless in this situation. >> in brazil, impromptu carnival have erupted. it has been hard for the brazilian staff to stay focused. >> we made it, and we can do it. >> they could not help getting emotional this afternoon when his home town was finally picked. >> there were a lot of problems in my country. >> this was the first ti

. >> reporter: it was another president who got to celebrate today, lulu dasilva of brazil and from rio's famous copacabana beach to downtown copenhagen, brazilians went wild. what won the day for rio was its vibrancy and its passion and it didn't hurt that the president of brazil is the man president obama has called the most popular politician on the planet. as the four cities began their final presentations, analysts say at least 25 of the 101 delegates had not made up their minds who they would vote for. as chicago's power pitcher, president obama, flew in this morning. >> if we walk this path together then i promise you th-frplt the city of chicago and the united states of america will make the world proud. >> reporter: but some delegates said they were less than impressed that the president stayed just four hours and left before the voting even began. chicago didn't even make it past the first round, getting just 18 votes. tokyo slipped by with 22, but lost to madrid and rio in the second round with rio finally prevailing in the third. sources familiar with the olympic committee tol

brazil will have to do a lot of work. it will be $500 million for bosses alone to get people around the congested city, and there is real concern about safety. it is a city where rich and poor live side by side. shepard: while obama was in copenhagen, he also met with the top commander in afghanistan to talk about the war there. the associated press reports that obama's spoke to general stanley mcchrystal for about 25 minutes to a board -- 25 minutes aboard air force one. critics have been hitting president obama for not talking more often with general mcchrystal. the secretary of defense and chairman of the joint chiefs of staff say he does not want to make a habit of skipping the chain of command. today, the white house said it was a convenient opportunity. >> he met with general mcchrystal because mcchrystal was in london, he was in copenhagen, it was easy for them to get together. it made sense for them to get together. shepard: that was david axelrod earlier today. this comes as the president and his team work on a n

. >> we placed her in brazil, right after the crime.without going into a great deal of the evidence, the bottom line is, yes, this is a very winnable case. >> reporter: but as long as she remains in brazil, she will not face trial. the constitution there bars extraditing any native-born brazilian. >> we have raised her case on numerous occasions with the government of brazil, and it is an ongoing law enforcement matter and i'll leave it there. >> reporter: and claudia remains there, in brazil. her attorney reportedly says claudia was abused hi her husband and karl says she should come back to ohio and tell that to a jury. >> i wanted to say it -- have her say it in court and let the criminal justice system take its course. that is where she needs to be. >> in warren ohio, steve brown, fox news. >> what a tragedy and how frustrating for the family. >> yeah. >> not to be able to get her back to the country to face justice. >> exactly. >> when we come back, giant marionettes coming alive, a country pulling out all the stops to celebrate a

in copenhagen, brazil soccer legend celebrated with hugs and cheers. luis made a case the olympics should belong to all people and all continents. >> translator: our time has come. it's time. tonight, the olympic calderon is lit. >> reporter: the olympics have been held 30 times in europe, five in asia, twice in australia and 12 times in north america. brazil, with 200 million people, most who speak portuguese is the power house of south america. it's expected to be the fifth largest by the time of the 2016 games. what they have going is the stunning backdrop. the promise of all sports held in the city. rio promised to spend $14 million on venues and infrastructure on the games and go green by planted 24 million trees to offset carbon die ox side emissions. as they prepare, there are challenges ahead. known for its high crime and murder rate, will the city be safe for the games? what to do about the poverty and slums scattering the city. back on the beach, concern is no match for celebration. rio is dripping with pride and now south america is finally

. >> reporter: brazil will be the first south american country ever to host the olympic games.he oddsmakers say the money rushed towards rio the last 24 hours. >> rio shows the map of the world. and they show that there have been 30 olympics winter and summer in europe and 12 in north america. and then they go to south america, zero. >> reporter: about the only place you could find more unbridled glee than brazil was with rush limbaugh. >> our president, barack hussein obama, mm, mm, mm, had been running around the world for nine months, telling everybody how much our country sucks. why would anybody award the olympics to such a crappy place? >> reporter: there is, of course, another way to look at this. maybe despite the tears, maybe, just maybe, chicago is better off. just ask montreal. that city just finished paying off debt from the 1976 games. ask athens. the greece budgeted $1.6 billion before the 2004 games and ended up spending $16 billion. london hasn't even had the 2012 games yet, but they've already blown their budget plans. a number of chicago websites had argued ag

of course america's loss is brazil's gain as lester just mentioned. the 2016 games will be heading to south america for the first time. nbc nbc's miguel almaguer is in rio. good morning. >> reporter: good morning to you. >> tell us what the mood is like there. >> reporter: there was quite the celebration, as you were able to see yesterday on the beach of cocoa cabana. some 100,000 people were estimated to be down there. a wild celebration on the beach that lasted all night, spilled into this morning. rio does have a lot of work to do in the next couple years. they have some $14 billion of infrastructure that they still need to build and to offset some of that they plan on planting 24 million trees to cross cancel that carbon dioxide. there's also a lot of problems here in the city of rio. the slums here are really infamous as you drive along the highways leading from the airports, you can see them on both sides of the streets. the poverty will really be on display here. of course there's some infrastructure. and one of the big knocks on rio is the cri

. >> brazil is ready.io is ready. >> reporter: brazil's president said voting for them would send a powerful message to the world. rio's time had come. tears of joy for rio. and sadness for chicago. >> that's the way it goes. some days you win, some days you don't. it wasn't our day to win. >> reporter: still, a crushing blow for chicago, a city that had counted on the winner of that last big election to make the difference. in this one. and now, very disappointed mayor daley clearly very sad about what happened, has said that it will be many years before chicago bids on another olympics. charlie. >> all right, chris bury in chicago, thanks to you. christine brennan, a columnist for "usa today" and abc news consultant who has covered the olympic movement and the international olympic committee for years, joins us now. christine, what happened? this was such a stunner. maybe the fact that rio won isn't such a surprise but that chicago finished so badly. >> the ios is a mercurial group, charlie. it is -- the

tim. >> the brazil olympics trade is moving passengers and freight around. gol airlines, gol. >> guy? >> rimm looks interesting now. >> karen. >> we covered some borg warner today. bwa. >> unbelievable cash flow for pepsi. i like the action we saw in there today. highs or not, this thing's going higher. >> all right. i'm melissa lee. coming up next, "options action."

arianna huffington and donna brazile. george, i have to condition fez, when i want to know what the white house thought and what you thought given your history with the nobel prize committee. >> the nobel prize committee forfeited its reputation for seriousness. if it had a reputation for seriousness. the president has a problem in afghanistan a real problem in scandinavian. the war set off a global cry of two words, for what? the committee answered that. they said, after 263 days of his presidency, but really after 11 days, because it was february 1st that the nomination was closed. he was honored for values and attitudes. notice the word attitude. shared by a majority of the world's population. this is an award for attitudinizing. >> it is well deserved. >> well deserved in. >> come on, george. i'm a forward-looking optimistic person. the president, in my judgment, he's well deserv. but he must also earn it. george, in 11 days, president obama overturned many of the policies that much of the world disliked. he ended ban

and the spotlight, of course, on brazil now that brazil is going to be hosting the olympic games.e're doing to take a close look at where to invest in that emerging south american economic power house. >>> and are you worried about retirement? we're going to tell you how to protect your 401(k). all ahead only on "the call" at the top of the hour. but first, "squawk on the street" is back right after this break. >>> welcome back to "squawk on the street." you're taking a look at brocade commune tagss. it's telling the wall street journal it is up for sale. potential buyers include oracle and hewlett-packard. meantime, let's check in on the day's movers. for that we go to matt nesto back at hq. >> thanks so much. we're checking on this marketplace and seeing a sharp rebound in financials. we talked about the upgrade of that group and some of the key names at goldman sachs here today. check out dow chemical. this is the best performer in the materials group, worst performer sector since the sell-off began 2 1/2 weeks ago here today. so dow chemical very, very strong. leading the mate

joe lockhart, i would argue that the best thing we could do here is acknowledge the emergence of braziland the other nations as viable locations for economic activity, social development and innovation and the real wake up call was not the politics of left or right and who won chicago, but are we aware of the fact as a country as we sit here hanging on too big to fail and competitive practices in health insurance that there are other countries on this earth that want to move forward in some potential way, and one of them is brazil, joe? >> i think that's a legitimate question, and brazil has been a growing economic powerhouse over the last decade. they have their own challenges. but i think you are getting at some of what the ioc was thinking about, which they were trying to expand the olympic movement. they went to china for the first time. they wanted to go to latin america. the debate has been silly in the last few days about the blame and the white house and i am happy to talk about that. i do think that brazil, you know, and latin america is an important economic both competitor an

europe and brazil much better than we are, australia's on fire. a lot of those countries over there are doing very, very well, and they're leading us. we will catch up. china took a break the past quarter. they'll be back up pretty strong the next quarter or two. but in this country we're sort of lagging behind. and that's happened before, it will happen again. but i think we're still going to keep up with the rest the world. >> so how do you invest, then, in that environment, harry? >> we're very heavy international right now, maria. we've been in the -- in europe very heavy the last several months. we're backing out of europe now. more in emerging markets again. taiwan, south kraerks iorea, in australia. we still have italy, spain, austria, and europe. we've been heavy in brazil and brazilian small cap for months and months now. very, very nice gains there. latin america's been the biggest gainer in the market of all so far this year. up 75% for the year. >> matt, what are you looking at? what's most important to you in terms of sifting through

quite a different story in brazil. going to be like carnival for a long time, how one 22-year-old brazilian put it after learning rio de janeiro was selected to host the games. an estimated 55,000 people gathered on rio's famed beach to celebrate the announcement and party into the wee hours of the night. >>> let's go from there to politics. most economists say the recession is probably over but the latest jobs report reminds us that is not the reality many americans are living in. in the weekly address this morning, president obama reacts to the news that 263,000 more american jobs vanished in september. bringing the total lost during the recession to 7.2 million. >> yesterday's report on september job losses was a sobering reminder that progress comes in fits and starts and that we will need to grind out this recovery step by step. >> i'm joined live again from the white house by nbc's mike viqueira. final good morning to you. >> once more to the breeze, alex. >> how will the white house convince americans the econom

it would help brazil. we don't need the olympics. we've had them a million times. our economy doesn't need the boost of the olympics. an american president in a george w. bush like way tries to bully the international committee. >> he didn't bully them. >> come walk with us. i'm here for america. can you imagine with bush had done this and we hadn't gotten it? cowboy unilateralist. obama falls into that trap and they weren't for us. >> juan, does the staff of the white house -- should they receive some blame for sending the president over there in this environment when south america now looking back, it looks like they kind of had it in the bag? >> i don't know if they had it in the bag. what's clear is that the united states did not have the votes lined up. i think that valerie jarrett, david axelrod, rahm emanuel, deciding this is going to happen. we can get the african nations. they didn't have anything lined up and it is a temporary embarrassment. i agree with mara. it's not going to have any long-term effect. the way it looks internationally, with the presiden

maybe it is madrid. >> the competent, we have brazil, japan, spain.y are all sending their heads of state as well. >> richard, there are a lot of bigwigs supporting the chicago games. there is a grassroots effort to keep the olympics out of the city. what's that about? >> we have bigwigs and little-wigs. a website, chicago is for rio that bashes the olympic bid and earlier this week, 200 people who share that sentiment and took to the streets in protest. >> hey, hey, ho ho! the olympic games have to go! >> all right. clear right there. they say chicago cannot afford the games and it is too corrupt to handle them. a group, another one, no games chicago is actually traveling to denmark to tell the ioc. >> allal that way. they are serious. richard, thank you. >>> a 5-year-old hunter bagged a pretty big trophy in texas. he took home an 800-pound alligator. the kid was hunting with his dad and a family friend when he shot and killed a 12-foot gator. look at him there. not even afraid. the boy's mom was worried. >> as a mom, it scares you to death because t

to 2016 but when you're looking at rio and this was the impassioned plea made by the president of brazilu never had an olympic in south america. how much does the timing play into a factor? >> i do think it is a factor. the united states had the olympics eight times and spain has had it once in 1992 and barcelona, the entire continent never had it. i think that is a factor. >> how much more will we hear once we know the final round and the final decision whether it is rio or madrid, how will we hear from members of the ioc, do they talk about that? >> they do a little bit and the ballot is secret. who knows if they're honest with how they voted. you'll get members to talk about how their thinking was when they cast their ballots. many do keep it under their hat and don't really discuss the reasoning. >> i wonder, give on the fact that president obama did show up for this and did make that personnel plea along with the first lady it's the first question that those ioc members will be getting, not about chicago, even though it is the winning city. why do they think chicago lost out? >> sur

greta: going to denmark, i am told that when he left, it was a 50/50 split, with brazil, and the brazilian president was going. if he had not gone to do that pitch, and we had lost to brazil, as we ultimately did, it would have looked like this president does not care, that he would not even get out of the olympics to do this, are hurting our national pride. -- to do this, hurting our national pride. i sing it would have look bad if he did not try. -- i think it would have looked bad if he did not try. >> they had been meeting people four days, and glad handing, and the president parachuted in, gave a seven-minute speech. i think a lot of these people felt a little bit disrespected by the president who came in and said, "give me what i want, and, by the way, and out of your." -- out of here." greta: pres. sarkozy. i understood that. this is different to me. >> i do not think they understood what was going on, and also, after action report on this, the chicago bid was not as strong as chicago thought it was, and also, the momentum for south america was huge, and the brazilians were almost m

first off, congratulations to brazil. they're a rising nation and good for them. but when a president acts on a last-minute whim, there are huge international consequences. whether mr. obama is trying to save mayor daly's re-election, i don't know. if mr. obama had a higher motive that's broad-based olympic americaa, fine. but here's the deal. his failed five-hour whirlwind trip has hurt american interest and american prooej -- prestigious around the world. the risk of defeat was too weak. he's playing with the prestigious of the most powerful office in the world. that capital must be harbored and protected carefully. but he was not. neither he or his operatives understood the workings of international olympic committee. it was a huge mistake. but the ioc surely knew the polls showed half of chicago was against this. coming back empty handed this afternoon, president obama must face questions such as posed by our very good friend doug ghee cass. does this signaled the end of the american economic and financial hygemony. it's a high wire act of the greatest importa

brazil and china, russia, they are talking about direct trading. these countries have real power and they are making their own side deals. this is not going to happen overnight, but it is happening already. the key thing is, reserve currencies, the middle east, over $2 trillion in denominated assets. they cannot force the dollar down too quickly, or else and will hurt their own economy. martha: what difference does it make what currency they use? >> it makes a huge difference. alexis, you are right about the numbers. if they all of a sudden say, we are going to move away from u.s. dollars, what happens is they have all of these dollars of their own that they have to unload into the market. the value on the world market will go down, so it will take a lot more on that to buy anything. inflation would skyrocket if that happened. this whole article was started from robert fiske. in the article, he called it an international kabal. i find it hard to believe that they want to have something on this happened so quickly. >> when we are thinking about the

we are talking about china, brazil, the indian markets that are going to have faster growth than our market. that means greater savings, that means greater, a faster growth in their middle class area of these countries. savings will be larger. so we expect opportunities overseas to be very robust over the next five years. we believe retirement in the united states is going to have to be addressed very importantly. most americans do not have enough money saved in retirement. >> what about the financial services industry as a sector? are we talking about a smaller industry with less leverage or are we talking about too big to fail still existing? most people say you still have too big to fail. >> we need large institutions. i think we should not run away from large institutions. large institutions can provide cheaper products, better products to our investors. we are going to have banks are going to operate with lower leverage though, but i think as a combination of stronger capital with large institutions. that's what we need. >> you think we need financial reform? >> we definitely ne

king carlos, brazil's president, chicago's prime minister, they all made appearances for the olympic committee as did president obama. and after returning from copenhagen congratulated the city that won. he congratulated brazil on their victory. >> one of the things that i think is most valuable about sports is that you can play a great game and still not win. i believe it's always a worthwhile endeavor to promote and boost the united states of america. >> who would think that would become a controversial assertion in this country? joining us now is democratic congressman danny davis of chicago. congressman, thank you very much for joining us tonight. >> well, it's my pleasure. i'm sorry that your city and our country didn't win the olympic bid, you must be disappointed. >> i'm disappointed, but i also know that chicago is a city of big shoulders, people here have a tremendous amount of resiliency, we'll bounce back. i was thinking to myself back when i was a kid, there was a year that the yankees did not win the world series. we didn't win the championship every year that we had mic

brazil will ho t

when morning comes, brazil will have a lot of work on ahead of it to go ahead with the games. there are problems with infrastructure, problems with hotels, shortages so great that they might have to have cruise ships near the shore to put up all the guests expected and of course the biggest problem is crime, in this city where the very rich and very poor live next door to one another and some neighborhoods are no-go zones for the police, they will have to spend a lot of money to ensure these are safe games and brazil's government has budgeted $14 billion for the games, more than 3 times as much as proposed and that's where we find my colleague, steve brown. >> steve, here in the america's second city, the city that came up fourth in this particular competition. you can both see and hear the disappointment in chicago this morning. it was like someone had knocked the wind out of the windy city. many thought if the president was going to denmark it was to close the deal but it was no deal. somewhere between $50 and $100 million spent on a bid that came up short f you are thinking

south africa are awaiting see if they broke the record, and had to ride a wave for five seconds, and brazilld the record, and it looks like the surfers in cape town topped that, it looked to be 125. and thanks for with -- for being with us, on "bbc world news." >> funding was made possible by the freeman foundation of new york, stowe, vermont and honolulu, the newman's own foundation and john d. & catherine t. macarthur foundation and union bank. >> union bank has put its financial strength to work for a wide range of companies, from small businesses to major corporations. what can we do for you? >> i am julia stiles. >> i am kevin bake. >> i am kim cattrall. >> and public broadcasting is my source for news about the world. >> for intelligent conversations. >> for election coverage. >> i am kerry washington, and public broadcasting is my source for intelligent connections to my community. >> "bbc world news"

hundreds of companies higher armored cars in brazil, and 86,000 are on the road.evlar can stop a handgun for $10,000, or steel for $25,000 and even more protection. it is something that residency as an unpleasant necessity. those without the means brave the streets unprotected. if you cannot afford to buy an armored car here in rio, you can rent one. there are even special deals. you're getting married, the bride can be taken to the beauty salon and to church in an armored vehicle. jon: dogfighting. it is brutal. many feel it is absolutely wrong. but should videotaping a dogfight and selling of land you in prison? it took us maybe, what, two hours to give up the corporate life? i think it took me about ten minutes. running a b&b is not a desk job. i have to climb stairs 20-30 times a day. announcer: keep moving with new nature made triple flex. newly formulated to work in as little as 7 days. with glucosamine to support cartilage health, hyaluronic acid, known to lubricate joints, and chondroitin complex for fast joint comfort. it's like a new beginning. new natur