side i was just looking at zero hedge they made the good point that institutions like options clearing corp or the group that is responsible for clearing of short sells they're all being downgraded too so this is affecting the fundamental infrastructure of the entire system itself was being downgraded as the entire ponzi scheme of raw bills yes i also read while we were in the states that j.p. morgan is the next for a downgraded by s. and p. and the reason why is they said that j.p. morgan rely so much on the u.s. government despite all their protestations despite every year when jamie diamond collects his tens of millions of dollars bonus he says because i deserve it nobody works as hard as i am i'm so clever i can print money but it's the u.s. government according to the rating agencies that give j.p. morgan its its rating right well nobody works as hard at fraud. jamie diamond but as you point out all they do over there j.p. morgan is they take the risks on their. books and they stick it on the federal government's books that worked beautifully for years as long as america had a aaa rema

more than 100 guests might be trapped for days until the army corps of engineers can replace the washed-out bridge. in ludlow, bulldozers cleared debris. neighbors got to work, too. >> is there anything i can do, really? >> reporter: in manville, new jersey, resources and emotions stretched to the limit. >> it's tough, but life goes on, you know? my dad built this house. and now i lost it. >> reporter: brian, there are decisions being made all up and down the east coast, whether it's worth rebuilding or whether people should cut their losses and go. >> what an absolutely unbelievable scene. you work for something all your life and comes along barely a category 1 storm at the tail end of its life. and it keeps on going. michelle franzen from new jersey and a reminder, we're watching the flooding and it runs on a delay. we've had a foot of rain here in the east on top of already-saturated soil. it takes a while to crest. some rivers have yet to crest in the northeast. so much of our time and attention has been devoted to the state of emergency in the state of vermont. and with us on the phone tonight from there, the state's publi

twenty two thousand and four olympic champion to clear the bout on a unanimous decision and he is now the mandatory challenger to oblige the medical corps the younger of the creature brothers vacated his belt following his picture with david haye in the unification belt but the thirty five year old gave it up as if the event years before he could to found that title however five get together should get how these day in the rain with the ukraine and by beating another former w.p. should guide. and finally went sportsmen are preparing for the new season already including players of one of the most popular games here in russia and in scandinavia bendy but as liked as it may be it is still overshadowed by more established sports as it reports now. if you want anyone outside of russia will stand the view of what is randy but those majority didn't have a clue how well the game is very simple just right field hockey plain or minus it may not be as big a sport even on tokii a band he still has a strong following in russia and sweden and one of the biggest stars around. as a household name in goofy's nations it's been a big week for the russian

producer financial corp so a lot of good to see you right now yes is down five percent my six three and a half percent how would you describe the situation. well the situation is clearing nothing short of a panic we have seen a somewhat panicky mood in the market last week and luckily we had forty eight hours to digest the s. and p. downgrade over the weekend we've seen quite volatile session this morning expectedly the market opened quite sharply down then recuperated parts part of the losses and clearly closing still lower and especially this is a bull cross the blue chip universe which is the easiest to get rid of and what we observe we have what we observe at the moment of the climb to seventy is we see hedge funds trying to get rid of the blue chip makers and the police situations trying to pick up somebody tell you a place in the second tier universe in what is a good time to look for interesting blog an opportunity is all to stay clear and wait for another day. there is clearly going to be a balance of some sort in this market because all markets do not move in that the same direction all times the switched directions my personal view would be that it's too earl

clear why you are where you are. you bring a wealth of experience and talent. >> thank you. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] >> coming up next, a senate hearing on disaster prepared this. live at 7:00 a.m., your calls and comments on washington journal." >> later today, fema will give an update on hurricane irene and the federal response to the storm. homeland security secretary janet napolitano will brief, along with fema administrator craig fugate and the director of the national hurricane center. later today. >> now a eighth senate commerce committee hearing on protect emergency preparedness. it focuses on improvements. senators look at how congress can better is serve the needs of u.s. government agencies to help protect american lives. this part of the hearing is just under an hour. >> i am going to put my opening statement in the record, which pains me greatly. we have a vote, and the whole idea of doing statements and then going to you and then going to vote and then coming back does not make much sense. what makes sense is to have all of you say what you're going to say. and then we will prob

institute] [captions copyright national cable satellite corp. 2011] >> all the more than four decades have passed since his tragic death, it is clear that his spirit lives on. it still has the power to bring ordinary people together to accomplish extraordinary things soon inspire acts of courage, compassion, and cooperation and to move people to blaze new trails to overcome longstanding obstacles and, of course, to make history. in three days, we will do just that. together, before hundreds of thousands of people here in our nation's capital, and before millions of people on television all around the world, we will gather near the place where nearly half a century ago dr. king shared his dream with all the world and called for the best in the american people, the best in all of us and the presence of leaders who once struggled alongside dr. king and shoulder to shoulder with many others who strive undaunted to advance his cause still today. we will join with president obama to dedicate a permanent memorial to this extraordinary leader and to his enduring legacy. this moment has been a long time coming. it has been too long. it neve

clear why you are where you are. you bring a welcome experience and talent, so thank you. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] >> and join us later tonight for "the communicators," weekly look at the telecommunications industry. you will hear from mar rotenberg and larry clinton. they will discuss discuss cybers against the united states. this is that 8:00 eastern on c- span to. -- c-span 2. we will check in at the harlem book fair. this gets underway at 8:30 eastern. on c-span 2. obama said gadaffi's rule is over, even though elimentements continue to take over the libyan capitol. this was his first apeparance pearance since the weekend push. >> i just completed a call with the national security council. i am talking about the extraordinary events taking place there. there are still regime elements, but this much is clear. khadafi's regime is coming to an end, and the future of libya is in the hands of its people. his reign has unraveled. we were inspired by what broke out across libya. longing for human freedom, echoing the voices we have heard all across the region. the campaign of violence was laun

clear why you are where you are. you bring a wealth of experience and talent, so thank you. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2011] >> it is a country fraught with corruption, natural disasters, an islamic extremists. >> what was really shopping -- shocking to meet and to many others, was that these assassinations were welcome, were congratulated by many pakistanis. these are not terrorists, not al qaeda, not taliban, but ordinary pakistanis who feel that their religion is threatened, that the country is becoming too secular, that the islamic values are under attack, and that blasphemy, which is anything ort insults' the profiet islam is something to be defended with your life. >> pamela constable on this sunday's "q&a". >> blog social security is so clear that if this schedule benefits cannot be paid, and that is a clear work, they will give only the payable benefits. that may sound like garbage, but that is a real gut renter because that is the one that is going to hit in 2037. last may there was less coming in than going out. this last may. so we get to this point and you are going to get cable benefits

clear why you are where you are. you bring a wealth of experience and talent. so thank you. >> thank you. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corpgton mayor vincent gray has declared a state of emergency ahead of hurricane irene. he made that announcement from the mayor's office just a short while ago and follows similar emergency orders, in neighboring states of maryland and virginia and similar sorts of orders all the way up the east coast. president obama earlier this afternoon had declared an emergency -- federal emergency for new york state in anticipation of the hurricane. meaning the state is eligible for federal emergency aid, coordination with state and local emergency officials as well. we will keep you posted on other briefings as well and you can find the briefings we've covered, links to ready.gov and hurricane center at c-span.com. with the weekend weather anticipated next week on washington journal the focus will be on weather and the federal government. on tuesday, starting the series with a look at zaft relief and preparedness -- disaster relief and preparedness, wednesday an examination of climateology and weat