price when you cash them out so you've got the accounting firms the options trader and the c.e.o. and the executives all colluding to game the system to extract wealth we saw by the way apple computer after nine eleven when their stock crashed they then jumped into the market to price options based on the post nine eleven crash lo those executives and cashed out based on the nine eleven tragedy so they monetize the nine eleven tragedy the apple executives and we see that across the board the fortune five hundred companies gaming the system exploiting tragedy when they can and turning what everyone else thinks is almighty god nine eleven to tragedy there's apple like tough talk left let's make money on this tragedy is disgraceful also they point to the fact that all these changes came about because driven by mark to market accounting firms mark up a value of their assets during good times and then write them down in the bad there is no equivalent to this in the national accounts mr smithers view that means american profits are overstated particularly at the moment indeed according

rating agencies are also committing massive fraud and they simply cook the books on the mandate of the c.e.o. who wants to report numbers that they feel are the best in terms of how to affect stock price except for jack welch of general electric very famously was a bookkeeper every single quarter they reported this earnings number that was cooked by the whoever their accounting was at the time and of course you'll have big four of big four left of the accounting agencies or used to be the big seven in the big eight except or but they've all been systematically closed down for accounting fraud now we've got four left they're all involved in accounting fraud and i'm sure that pretty soon to be only three left well the article in the economist is looking at a new book and it's called the road to recovery how and why economic policy must change is by andrew smithers an economist and he knows that in the early one nine hundred seventy s. american companies invested fifteen times as much cash as they distributed to shareholders in recent years the ratio has dropped back to below two look at this c

rating agencies are also committing massive fraud and they simply cook the books on the mandate of the c.e.o. who wants to report numbers that they feel are the best in terms of how to affect stock price except for jack welch of general electric very famously was a bookkeeper every single quarter they reported this earnings number that was cooked by whoever their accounting was at the time and of course you only have big four of big four left of the accounting agencies or used to be the big seven in the big eight excedrin but they've all been systematically closed down for accounting fraud now we've got four left they're all involved in accounting fraud and i'm sure that pretty soon to be only three left well the article in the economist is looking at a new book and it's called the road to recovery how and why economic policy must change is by andrew smithers an economist and he knows that in the early one nine hundred seventy s. american companies invested fifteen times as much cash as they distributed to shareholders in recent years the ratio has dropped back to below two look at this char

you are assuming that the c.e.o.'s don't have value so but there you go web site development you know and specially if this massive of a scale were some level of a lot of this is. the i.r.s. talking to the social security administration to confirm citizenship and taxpayer and income status these are government agencies talking to government agencies it should have been a government agency that's interacted with i think absolutely look there's one of the major problems that people have had the website is the level of interest in this that they have encountered when they have tried to to apply for you know for health care and they're getting questions like. you know the. their grandmothers you know first made a name sort of thing your social security number are going to look into your credit report one have to think that again if a lot of this has been done in-house government agencies would have been able to talk to one another as opposed to do we really want to have a corporation or a bunch of private corporations who

price when you cash them out so you've got the accounting firms the options trader and the c.e.o. and the executives all colluding to game the system to extract wealth we saw by the way apple computer after nine eleven when their stock crashed they then jumped into the market to price options based on the post nine eleven crash lo those executives and cashed out based on the nine eleven tragedy so they monetize the nine eleven tragedy the apple executives and we see that across the board the fortune five hundred companies gaming the system exploiting tragedy when they can and surname what everyone else thinks is almighty god nine eleven what a tragedy there is apple like tough talk laugh let's make living on this tragedy is to scrape will also they point to the fact that all these changes came about because driven by mark to market accounting firms mark up a value of their assets during good times and then write them down in the bad there is no equivalent to this in the national accounts mr smithers view that means american profits are overstated particularly at the moment indeed

i'm grateful to intel dine because basically i feel like they've got me covered -- >> intel la dine c.e.o. spent eight years in marine corps and says he likes to practice what they preach. we're all in it together and they don't leave anybody behind. >> how generous. it would be great if we could all i think like that. >> thanks, karen. >> you can count on fox 5 to keep you up-to-date with the government shutdown. we'll bring you the latest on air and online on myfoxdc.com. look for updates on facebook and twitter. >> scary moments in virginia. man fell through a sidewalk great. >> how safe is your metro stop? >> outrage in montgomery county

s business their falling off a cliff down forty percent now the c.e.o. of i.b.m. had only recently stated that they expected sales to be double digit growth so he was unable on this conference call with investors even explain what had happened but of course he's not going to publicly state it's the n.s.a. spying on our competitors which have destroyed our market in china first of all i think the c.e.o. of i.b.m. clearly is a woman and this is setting up a situation where i.b.m. will need a bailout so we go from banks needing all kinds of bailout to corporations dating bailouts i.b.m. in the biggest will need oh we need a huge bailout for these companies to pay for by massive amounts of debt oh seventeen shilling twenty trillion forty seven trillion how about the monthly quantitative easing going from eighty five billion two hundred billion on a fifty billion worth of stuff it won't stop at all because a ponzi scheme let's get wider and wider and wider pyramid scheme means a base with the image of bigger and bigger and bigger crashes the american people are going t

research for national australia bank and in the hong kong richard hands were the c.e.o. of universal credit rating group now first too bad you thought before that there wouldn't be a deal but here we are default averted and isn't that a reason to celebrate yes indeed i mean it would have been extremely damaging and customer a lot of money and the the threat of driving it into recession i mean it's growth killer. at the top but at the end of the day i mean there's no real reason to do it isn't so much is this was a law passed. by the supreme court and you know my perspective on this is that lawmakers have a duty to fund laws that are passed and that's what the for the common objects of those simply because they don't like them but it shows in a way how dysfunctional american politics is that we had this far in the first place when they did take quite a while to reach that two weeks deadlock to reach to this point but we're going to come back to that point your predictions were that the u.s. dollar was a we'll stay b. up from now on doesn't mean that the world should stop

morgan chase c.e.o. jamie dimon if wall street with all its reckless behavior should be advising the white house and the top leaders of the u.s. intelligence agencies are back in the hot seat on capitol hill senator saw more information about n.s.a. surveillance and ways to limit its expansion more on today's hearing later in the show. it's wednesday october second two pm in washington d.c. i'm sam sachs and you're watching r.t. and we begin with day two of the u.s. government shutdown now in just the last hour a meeting at the white house between president obama and congressional leaders wrapped up and the result no deal i believe based on what we have seen the performance of the tea party driven cruz led. house now no longer in the senate it's now in the house. i think that. it looks like these people are headed where they want to go michele bachmann said finally finally we're where we wanted to be we've closed down the government she's not alone. and so the shutdown continues for many more than eight

morgan chase c.e.o. jamie dimon will ask if wall street with all its reckless behavior should be advising the white house then the top leaders of the u.s. intelligence agencies are back in the hot seat on capitol hill senator saw more information about the n.s.a. surveillance and ways to limit its expansion more on today's hearing later in the show. it's wednesday october second four pm in washington d.c. i'm same saxon you're watching r t and we begin with day two of the u.s. government shutdown more than eight hundred thousand federal employees remain furloughed and countless services and government functions around the nation remain shutter the national institutes of health is shutting down its cancer trials this week and definitely moving forward as the government remains shut down roughly two hundred patients including thirty child cancer patients were to begin cancer trials this week now they won't also while states food stamp programs are still up and running the federal program is non operational

yeah that was in an mazing admission on behalf of the c.e.o. of shell just a little background max schill is already in a very good position for the emerging global trade in liquefied natural gas it has a very good global infrastructure in that regard but unfortunately what what shell did in us title oil and natural gas shill regions is it came in too late to the game and it paid too high a price and that resulted in an unfortunate economic outcome if you will for them for both natural gas and entitle oil in natural gas they certainly have good assets here in north america but as you will have noticed natural gas prices have have failed to really rise or rally or repriced to a higher level yet we're still wallowing around in the sub four dollar region for a million b.t.u. in the oil area where shell just had some big write downs because of their properties in tight oil. in the oil area what happened for shell is they realize that these assets don't scale anough or a super major remember max the title will revolution to use that word which is a

old cerebral live video for your media project c.e.o. don carty dot com. i was a new alert animation scripts scare me a little. there is breaking news tonight and we are continuing to follow the breaking news. alexander's family cry tears and so why great things other than. red dark and a court of law found alive is a story made for a movie is playing out in real life. welcome to the kaiser report imax kaiser hey you there in liverpool thanks so much for this max graffiti you can now see on your screen i asked people around the world but max your feet up in your city liverpool thank you this is got to be five or six cities now around the world a huge max portrait there phoebe yes. ok now the lilliputians let's talk about them they looked upon fraud as a greater crime than theft. for with care and vigilance one could protect your property from faffed but where fraud is permitted or can see. or hath no law to punish the honest dealer is always undone and the knave gets the advantage just look at america and or the u.k. and you will see in the loop you sions

aims to connect by side analysts in an effort to exchange investment ideas to be on the run for a c.e.o. and co-founder of some zero joins me now live from our new york studio to discuss a their debut idea and higher now i can you briefly tell us other than what i've just described as a. place for by side analysts to go and exchange information what is some zero. yeah i thought your summary was actually quite good before some zero if you want to research it as you know an investor you have to go to wall street you have to go to you know goldman sachs or j.p. morgan and accessories as essentially what's known as sell side research and we created some zero to really develop an alternative to that which is to say research coming from professional investors who unlike and less on the sell side have skin in the game and you know lack some of the conflicts of interest that we think. you know exist with with wall street research. did you have to ask you where did the idea for this platform come from. well you know we get to solve that problem. of wall street research you know you have these an

she will report to apple c.e.o. and was the highest paid c.e.o. in the united kingdom last year. >> fortune magazine is out with the annual list of the 25 highest paid business women in america and the top three are from right here in the bay area. the chief financial officer at oracle topped the list making $43 million. marissa mayer is second, and third is the chief operating officer at facebook making $26 million, and number ten, is h.p. meg whitman who took over $15 million last year. >> different set of numbers ahead. mike nicco is coming up with the forecast. >> they are above average but nothing in that spectrum. good morning, everyone, from the rooftop of the abc7 broadcast center, we will talk about warmer than average afternoon temperatures in the seven-day forecast and we will go in search of rain. you may not find any until november. that is ahead. >> another state trying to crackdown on the home away from home vacation rentals that help >> covering daly city, dublin, los gatos and all the bay area, this is abc7 news. >> fairfield poli

the wall street c.e.o.' job and wells fargo are headed to the white house to meet with president obama. funding the president and raising the debt ceiling is on the agenda. stocks were higher on the day one of the shutdown but day two, we are seeing volatility in this market as the shutdown continues lower. and you may notice that there yaps you do not use and facebook has a tool where the ads encourage you to use the neglected apps you have installed. as the excitement builds over the planned initial stop offering of twitter, investors want did necessity how much money does how much twitter makes from everything? >> they will disclose it this week and the metric is $2.17 peruser which is what facebook pulled in a user. >> okay, you have heard? the a's host the tigers in the division series on friday. look at that. look at the cute fan photos. a little girl is ready for the playoffs. cutest photo of the day. mail your photos to us, as well, or share them with us at facebook.com abc7news. we will show did you

. >> coming up 49ers c.e.o. apology for unsportsman like conduct of fans. >> freak big rig accident in the north bay that nearly sent a semi plowing into a home. >> macy's department store is about to do something it has never done in its 150--year history. >> it is a beautiful start to the work week as you can see from our exploritorium camera looking the at bay bridge. the forecast with mike nicco is or how to get great deals the easy way. you do enough flying around. that's why we give you real big club card deals. this week, load up on your favorite coke products. 12 packs are $2.77 each. $16.99 for 150 ounced up on your favorite coke products. tide is $16.99 for 150 ounces. that's under 20 cents a load. and oikos greek yogurt is just a buck. real big deals this week and every week. only at safeway. ingredients for life. >> in the north bay an accident in vallejo sent this big rig plowing toward a neighborhood that happened near hunter hill rest area this morning. the c.h.p. says the truck came to a stop on

that's why no c.e.o. has gone to jail since the whole financial crisis erupted. we've seen a lot of civil suits but no criminal cases where someone has actually had to go to jail. they are notoriously difficult to bring and to win. so it may be one more case that gets settled. but i don't expect there to be a criminal charge against jay me die man individually or anyone else in that c suite. >> jeff: a $13 billion settlement, what cuss it mean for us. >> i don't think it means that much, i know that is disheartening. there will be some that get mortgage modification, that's great. and there will be a lot of money to be pour mood that. but for the regular old person out there, if you own jpmorgan stock t didn't really affect your stock price, it is a deal anticipated for quite some time. and for the rest of us, i don't feel really good about this deal and i don't think anybody else does. >> jeff: you mentioned jay me die man, what is his future now. >> a lot of people mention whether he is going to lose his job. i done see that happening. the board has been very m

i'm here as the c.e.o. and founder of a boston based startup that improves the efficiency of the buildings in which we live and work. in just over three years, my company has grown in idea to industry leader with over 32 employees and contractors. we help organizations across the country to find inefficient buildings and uncover savings. it reduces costs for owners and increases tenants' comfort. many of our customers management market rates. at the same time we're proud to have helped our home state of massachusetts identify over $300 million in potential savings. we also help local governments to better understander that expenses, including the city of new orleans and los angeles. we are proud participants in the american system of entrepreneurship. to allow a company like ours with innovation and hard work to thrive. we believe business should provide meaningful value in a self-sustaining way. our -- it relies on a supportive public sector. government has been vital. everyone many america knows the value

the c.e.o. of high mark insurance in pittsburgh is a company hoping for thousands of new customers. the web site's problems have held enrollments to a fraction of that. >> well, it's in the hundreds. so it's a fairly low number given what we would have expected. my greatest concern is that people lose confidence in the system generally. >> reporter: three committees in the house plan hearings on why the administration repeatedly promised the web site would be ready without a hint the site was in trouble. officials have since acknowledged the system was not well tested. sources tell cbs news the underlying software was riddled with junk computer code which means, one expert said, "no way it was properly tested before it went live." the white house is also reaching out to experts and companies in silicon valley, trying to tap their expertise for the rescue of healthcare.gov. but, scott, officials have declined to say which companies have been asked for this new level of help. >> pelley: wyatt, thank you. yesterday the president found himself having to explain how angry he is with the

you cannot do all c.e.o. with without boots on the ground in terms of intel just very briefly if you watch homeland the american series you know that. just briefly much of this has been centered of course on europe but your asia times correspondent there based in london of course asia has been missed out on all of this because apparently australian embassies were being used to intercept calls on behalf of the n.s.a. so not just asia but also the fact the embassy is being used to mean that countries should be very wary of what embassies are doing within their own countries and in the worldwide network. or yes absolutely. we respect to the big five the speaking world let's put it this way in southeast asia a lot of diplomats for a few years now be had they were suspicious that the americas and perhaps the of really up to no good in terms of monitoring information now they have proof in china this is a huge scandal ever since snowden was in hong kong and then when the first batch of information it's very importa

you cannot do all c.e.o. with without boots on the ground in terms of intel and if if you watch homeland the american series you know that. more details on the techniques used by the n.s.a. are being revealed a report in the washington post shows the agency has been harvesting huge amounts of data from google and yahoo by breaking into their communications links this sketch from an internal presentation shows how the n.s.a. intercepts google traffic by tapping into the company's data cables millions of records are collected in this way on a daily basis as part of a program code named muscular and the n.s.a. engineers enjoy what they're doing if the smiley face is only to go by or to get a clearer idea of what these doodles mean check out dot com right now also the man behind all those leaks is now earning his keep three months after being granted asylum in russia edward snowden finds a job the details coming up in just a few minutes from now. all of the facilities used in syria to produce chemical weapons hav

of the corporate target of a major criminal investigation at the request of the c.e.o. while negotiations on a global settlement agreement are pending is highly unusual and under the circumstances that meeting occurred gives rise to concern well i mean the crime in a general nature of business in america as william k. black would describe it former prosecutor who put a lot of bankers in jail and the savings and loan crisis this has become the day to day grist of the american economy and the c. and b. c. folks of course they are in denial they don't think jamie diamond has committed massive crimes and committed massive fraud or or lloyd blankfein over there goldman sachs but of course they have it's been documented they've paid plenty of fines for i mean had there not been laws changed after the savings and loan crisis decriminalizing the fraud that jamie dimon is involved with today he like the bankers of that era would be. in jail remember one of the one of the fallouts from the s. and l. crisis was bankers change the law to make the crimes of the s. and l. era legal t

of the corporate target of a major criminal investigation at the request of the c.e.o. while negotiations on a global settlement agreement are pending is highly unusual and under the circumstances that meeting occurred gives rise to concern well i mean the crime in a general nature of business in america as william k. black would describe it former prosecutor who put a lot of bankers in jail and the savings and loan crisis this has become the day to day grist of the american economy and the c. and b. c. folks of course they are in denial they don't think jamie diamond is committed massive crimes and committed massive fraud or or lloyd blankfein over there goldman sachs but of course they have it's been documented they've paid plenty of fines for i mean had there not been laws changed after the savings and loan crisis decriminalizing the fraud that jamie dimon is involved with today he like the bankers of that era would be. in jail remember one of the one of the fallouts from the s. and l. crisis with bankers changed the law to make the crimes of the s. and l. era legal

yeah that was in an mazing admission on behalf of the c.e.o. of shell just a little background max schill is already in a very good position for the emerging global trade in liquefied natural gas it has a very good global infrastructure in that regard but unfortunately what what shell did in us title oil and natural gas shill regions is it came in too late to the game and it paid too high a price and that resulted in an unfortunate economic outcome if you will for them for both natural gas and entitle oil in natural gas they certainly have good assets here in north america but as you will have noticed natural gas prices have have failed to really rise or rally or reprice to a higher level yet we're still wallowing around in the sub four dollar region for a million b.t.u. in the oil area where shell just had some big write downs because of their properties in tight oil. in the oil area what happened for shell is they realize that these assets don't scale anough or a super major remember max the title will revolution to use that word which is a p

video for your media project c.e.o. don carty dot com. hello there i marinate and this is here are some of the stories we're tracking for you today. score another one for the wall street a week you thought foreclosures were bad right well leave it to black stone to turn lemons into well lemons they're the largest player in the burgeoning poor closer upon the rental market and thousands of new tenants are irate their new landlords love the words and the fed just stumbled on twenty eight million dollars worth of bitcoins the stock belonged to the owner of silk road the so-called even a of drugs and i sit down a little bit with fixed point foundation is director of public affairs to talk all things that point as well as new frontiers and currencies and finally with record fines being handed down to j.p. morgan and friends their auditors appear to be getting off scot free them and start talks to us about the failures of the big four let's get to the show. you can have a bubble these days without a new form of financial innovation especially w

you know for your media project c.e.o. don carty dot com. hello there i marinate and this is the boom bust here are some of the stories we're tracking for you today. you thought the thirteen billion dollars j.p. morgan fine was steve well the fed just announced the big banks will have to keep really in dollars in cash and liquid assets in order to withstand another systemic financial panic but those wily bank behave as they have a plan figured out already a way to sidestep this buffer we'll tell you all about it and after taking a pummeling overnight the nikkei stock index is sorting out the effects of all they know next to seen charts the volatility in the yen and john mauldin joins us to weigh in on the dangers that lie ahead for the japanese economy lou and finally rich well talks about an emerging market political risk from the collapse in the paper gold to the reciprocal of speaking of which will even tell you where gold grows on trees no lie we're going to tell you where. let's get to the ship. the greatest chaos during the financial p

three broke video for your media project c.e.o. don carty dot com. kolo there i am married and this is us here's the story we're tracking for you today on the show welcome back to the new normal the s. and p. five hundred smashed its own ceiling today closing at all time highs and google pierced the one thousand dollar bail to look at all shiny and new but it's not just the earning season or america's favorite panda that's bursting at risk assets up the wall of worry yes which channel john hilson wrath and dabble in some fed predictions with the help of chris martin since and tom hartman of the big picture dismisses the fray with a unique perspective on the debt ceiling let's get to the. job owning isn't simply the problems of those who work a few hours per week on the capital last week for. at the federal reserve chairman bernanke you sent bond and currency markets into a free for all in april of this year all because he simply hinted that the fed would eventually trim quantitative easing it would capture the world's attention was the two plus week

president obama is the c.e.o. of america. it is his job to organize our finances.'t negotiate and we go cross that deadline, the blame falls, i think, largely on him. >>steve: so it would be in the democrats' best interest to get things done quickly, wrap up this shutdown as quickly as possible. whereas if they get together, they merge, both of the debates, that would be better for republicans? >> it is a political calculation, who gets the blame. who gets the blame for the shutdown? >>brian: antileadership. >>elisabeth: leading up to the 17th, the market will be where? >> i don't know. elisabeth, if i could tell you that, i would be worth a couple of billion dollars. >>elisabeth: that is another set of uncertain time. obviously you would anticipate things looking great? >> the market looks like it will go up 50, 60 points today at the opening bell. down the road, different story. as we approach the debt ceiling, that will change entirely. >>brian: i'll give you cavuto's extension. he'll know. >>steve: we'll be running varney and company today at 9:20. >> i am open