c.e.o. of goldman sachs warning of the dangers of the fiscal cliff. >> what you won't repair is people's attitudes towards the united states. >> glor: and dean reynolds on why there's a smaller bounty to share with the hungry this thanksgiving. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> glor: good evening. scott's off tonight. i'm jeff glor. i eight days of bomb blasts and a celebration in gaza tonight after israel and hamas agreed to a cease-fire. a deal was announced in cairo by secretary of state hillary clinton and egypt's foreign minister. israel agreed to stop air strikes in gaza, where at least 161 palestinians have been killed since last wednesday. hamas promised to stop firing rockets which have killed five israelis. there were fears the deal might not happen after a bomb went off on a bus in tel aviv this morning. 27 people were hurt, no one has claimed responsibility. we have reports from gaza and israel tonight. we begin with clarissa ward in cairo, where that cease-fire was brokered. >> reporter: after 24 hours of intense shuttle diplomacy, secret

c.e.o. of goldman sachs and you're starting to imagine the world that the occupy movement is trying to bring into being we don't always go to greatness not of unanimity we will be like a duke ellington jazz orchestra. everybody got their own voice and even duke is not the conductor he just didn't put the money but he did gonzalez he did it. just is not just yes that's democracy in action at the deepest level experiencing the horizontal community and culture and organization. so radicalizing for people and continues to be so radicalizing because it draws such a stark contrast up against what they're fighting and actually in their minds clarifies what they're up against more and then somebody. more than it would be clarified if somebody got up and tried to clarify it for them thanks to occupy wall . street there is a lot of new ways of organizing which is not just calling people to participate in something you came up with but giving people the opportunity to create themselves and to be part of a regional brainstorming about what to do so that they feel empowered in a smart it's also i think.

c.e.o. of goldman sachs and you're starting to imagine the world that the occupy movement is trying to bring into being it was going to be just not about unanimity we will be like a duke ellington just. everybody's got the only thing we need to do just not to conduct but he just looks good so much that it doesn't look. just like yes there is democracy in action. experiencing the horizontal community and culture and organization. was so radicalizing for people and continues to be so radicalized because it draws such a stark contrast up against what they're fighting and actually in their minds clarifies what they're up against more than somebody. more than it would be clarified if somebody got up and tried to clarify it for thanks to occupy wall street there's a lot of new ways of organizing which is not just calling people to participate in something you came up with but giving people the opportunity to create yourself and to be. a regional brainstorming about what to do so that they feel empowered in this movement it's also i think finally put the kybosh. let's organize a rally on a saturday

c.e.o. of goldman sachs lloyd blankfein recently gave an interview to sixty minutes so i'm into retirement ages and he said with regard to social security medicare the retirement age has to be changed maybe some of the benefits have to be affected maybe some of the inflation adjustments after your advise but in general the title is new you have to be slowed down and contained this is easy for a guy with forty fifty million to say the fact of the matter is he he made the point blank fine in that interview that when so security was created one hundred thirty five life expectancies were shorter than they are now the reality is for anybody making under two hundred fifty thousand dollars a year life expectancy right now if you've made it past your fifteenth birthday is one year longer than it was in one hundred thirty but it's a total nonsense argument it's that was in for mortality that was driving down overall life expectancy rates and that has nothing to do with social security so so mark you know what what the we say to lloyd blankfein when the simple solution is for him who is making fourteen a

of c.e.o.'s of caterpillar, goldman sachs and all state and other key players on fiscal includes including erskine bowles co-author of the simpson-bowles and the republicans want the business community to hear their ideas and make the case a big deal should include spending cuts and reforms. >>shepard: thank you, mike, from capitol hill. grover norquist will join neil cavuto next hour and talk about breaking the anti-tax pledge by some republicans. >> the generation leader who brokered the cease-fire between israel and hamas is in a world of hurt now standing by a you positive we are grab that sparked violent protests. egyptian president morsi is trying to ease the violent backlash over his new power. here is the back story. president morsi essentially gave himself total power over egypt issuing a number of decrees including all decisions he makes are final so the judges do not have any say and another that states that no legislature and no court can overturn any law he makes. so, poof, he dictator, saying he is trying to speed up the government transition but opponents argue he has appointed hims

c.e.o. of goldman sachs, part of it is he doesn't know what he's talking about. he says, you can look at the history of these things and social security wasn't devised to be a system that supported you for a 30-year retirement after a 25-year career. the ave beneficiary collects about 16 years. so that's a 30-year retirement after 25 years. mr. ellison: he must be talking about himself. ms. schakowsky: the retirement age has to be changed, maybe some of the benefits has to be affected, maybe some of the inflation adjustments has to be revised, but in general entitlements has to be slowed down and contained. you know, this is a guy who's a pretty entitled fellow, and the idea of him pawning to these people who, you know, half of whom make -- less than $22,000, doesn't sit well with me and i don't think most americans. it's not just that i think. we've asked most americans. and by the way, people who voted for mitt romney will tell you, do not cut my social security and medicare benefits. they don't want that, and it's not because they're stupid or greedy, as alan

financial crisis, goldman sachs received a total of $814 billion in virtually zero-interest loans from the federal reserve and $10 billion bailout from the treasury department. this is the c.e.o. of goldman sachs. and now, with his huge wealth, he is coming here to washington to lecture the american people on how we have got to cut social security, medicare and medicaid for tens of millions of americans who are struggling now to keep their heads above water. and this is what a statement was that he recently made. quote -- i believe he was on a tv show. lloyd blankfein. "you're going to have to undoubtedly do something to lower people's expectations. lower people's expectations, the entitlements and what people think they're going to get it because they're not going to get it. social security was a system designed to support you for a 30-year retirement after a 40-year career so there are certain things like the retirement age will have to be changed. maybe the benefits will have to be affected, maybe inflation adjustments will have to be revised. entitlements will have to be slowed down and contained. " this comes from a man worth hundreds of millions of dollars. his company

c.e.o. of goldman sachs, who received a $10 billion direct bailout at below market interest rates have preached about decreasing social security benefits and increasing the retirement age. main street americans have lost more than 40% of their wealth from 2007 to 2010. nearly one in six u.s. residents is officially poor, the highest rate in 50 years. 22% of american children live in poverty. we're facing an economic situation that resembles the years leading up to the great depression. now, this prevailing budget plan calls for deep cuts, environmental protection, social security, medicare, medicaid. well, corporations and the top 1% get tax cuts of nearly $3 trillion over the next decade. this is not how you protect a democracy. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from texas seek recognition? mr. poe: i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, so ordered. mr. poe: mr. speaker, the -- a president has finally given us his balanced plan to allegedly avoid the fiscal cliff. he w

goldman sachs c.e.o. labor lloyd blankfein to the list. of them bridgeman we want to just eliminate the debt ceiling oh absolutely. we propose that well you know this is only something only congress can stall congress put on it so their job is to make the country function not to it's not a winning game it's a get a long game. so everyone talking about the political wrangling treasury secretary wall street c.e.o.'s but what gets lost in all of this hubbub over the fiscal cliff is some other news items like the fact that the treasury released friday night that wall street will receive a loophole they lobbied for that exempts foreign exchange swaps from dodd frank dimitri we have thirty seconds but come on friday night not a lot of time to report on it huge loophole for wall street i think overall i wonder how much of this is just one big show the media outlets need something to run with so the elections are over and now they need to really harp on the fiscal cliff because they need to fill air time these guys are the lenders well they're you kn

mario draghi is the former managing director of goldman sachs international and here in the united states after treasury secretary and former goldman c.e.o. henry paulson did his job in two thousand and eight securing goldman's multi billion dollar bailout he was replaced in the new obama administration with tim geithner who had worked hand in glove with goldman sachs as head of the new york fed which was supposed to oversee and regulate them and geithner made sure that goldman received more than fourteen billion from the bailout of failed insurance giant aig. what's happening here goes back more than a decade in two thousand and one goldman sachs secretly help greece hide billions of dollars through the use of complex financial instruments like credit default swaps this allowed greece to meet the baseline requirements to enter the eurozone in the first place. but it also created a debt bubble that would later explode and bring about the current economic crisis that's drowning the entire continent but always looking ahead goldman protected itself from this debt bubble by betting against the greek bonds expecting that they would eventuall

of why nations fail is here to discuss and here in the u.s. president barack obama reportedly speaks with corporate c.e.o.'s from firms like caterpillar and goldman sachs about fiscal cliff solutions here's what he said to the public. and i'll go anywhere and i'll do whatever it takes to get this done it's too important for washington to screw this up. but it's washington and really once again the nation's economic fate may be held hostage by negotiations at the highest levels of government where does this properly we'll talk about it plus manufacturing is slowing and businesses are worried about the fiscal cliff that's according to the fed's beige book out today what is the beige book anyway and who cares we'll tell you why it matters and word of the day let's get to today's capital account.

of why nations fail is here to discuss and here in the west president brought. obama reportedly speaks with corporate c.e.o.'s from firms like caterpillar and goldman sachs about fiscal cliff solutions here's what he said to the public. and i'll go anywhere and i'll do whatever it takes to get this done it's too important for washington to screw this up. but it's washington and really once again the nation's economic fate may be held hostage by negotiations at the highest levels of government where this is patently we'll talk about it plus manufacturing is slowing and businesses are worried about the fiscal cliff that's according to the fed's beige book out today what is the beige book anyway and who cares we'll tell you why it matters and word of the day let's get to today's capital account. when we talk about economic development or prospects on this show we typically talk about debt about private sector innovation we talk about monetary policy probably much of the time we talk about fiscal policy we don't often on this show talk about economic prosperity is primarily a function of political institutions but that's what our next guest thinks is the mos