so call me at 1-800-743-cnbc.n recent years, stocks have become more hated, hated than any time i can remember my entire career. it spans a lot of time. but you know what? i still believe anyone can turn a profit in the stock market, as long as you're willing to put in the time and the effort to keep track of what you own. i wouldn't come out here every night to try to educate you if i didn't think it was not just theoretically possible, but actually feasible for the vast majority of people to succeed at managing their own money. okay. so if that's the case, then why is investing so darn difficult? how come so many people struggle to make money in the stock market? how the heck can i believe it's possible for you to beat the averages, the big benchmarks like the s&p 500 and the dow jones industrial average when so millennium -- and mutual fund managers fail to do so. simple. you can do it. but you have to do it the right way. one of the biggest obstacles to successful investing is a lack of clarity about just what

[ticking] >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we look at three stories linked by the financial collapse of 2008. first, we examine a scam that's cost thousands of americans their homes. then we look into wall street's shadow market of credit default swaps. finally, a report on the perilous state of state finances. we begin with the foreclosure crisis. in the aftermath of the great recession, the huge number of foreclosed properties was a significant factor in weighing down the economy. many were stuck on the market for an unexpected reason: the banks couldn't find the ownership documents. as scott pelley first reported in april 2011, lenders wanting to evict people found that often, the legal documents behind the mortgages simply weren't there. caught in a jam of their own making, some companies appeared to have resorted to forgery to throw people down on their luck out of their homes. >> these folks on the street aren't homeless. they slept on the sidewalk because they want to keep their homes. facing foreclosur

that's our edition of 60 minutes on cnbc.

. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we look at the multibillion dollar business of international crime. first, we report on the theft of an eye-popping fortune stolen from the iraq treasury. then we take a look at shoplifting gangs from south america. and finally we go undercover in china to expose rampant product counterfeiting. we begin in iraq with the theft that's been called one of the largest of its time, the mother of all heists. and it happened right under the noses of u.s. advisers. as iraqi investigators told us in october of 2006, more than half a billion dollars had disappeared from the defense ministry-- money that was supposed to equip the iraqi military. investigators believe the very people that the united states had entrusted with the funds had stolen them. but it seemed neither the u.s. nor its allies had much of an appetite for pursuing the matter. >> people have died. moneys have gone missing. culprits are running around the world, hiding and scurrying around. i have to ask myself wh

tyler mathisen, my colleague, certainly an anchor and vice president here at cnbc. he's back at global headquarters with details. >> less than two weeks ago one of cnbc's own, kevin krim, head of digital operations and his family were the victims of incomprehensive crime. in new york city the family held a private memorial service for their two young children who died on october 25th. many of you have reached out to the family and to cnbc to express your condolences. we deeply appreciate your thoughtfulness. many of you asked how you could help. a fund has been established in lulu and leo's names to honor their love of arts and sciences. the proceeds will go to support educational art and science programs for youth. if you would like to contribute, you can logon to lululeofund.org. our hearts and prayers remain with the krim family. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global ac

that's ahead when 60 minutes on cnbc returns. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> credit default swaps are private unregulated contracts that mortgage investors entered into to insure themselves against losses in the event their investments went bad. but as we reported in october 2008, when homeowners began defaulting on their mortgages, wall street's high-risk mortgage-backed securities also began to fail, and the big investment houses and insurance companies who sold the credit default swaps hadn't set aside enough money to insure all of those losses. bear stearns was the first to go under, selling its

author of "the black swan," nassem taleb joins us at cnbc headquarters. he's just written a new book. we'll talk about that and get his take on the fiscal cliff and the drama playing out in washington and the markets. he has some very interesting opinions. back in a moment. >>> over president obama's first term, the federal debt to gdp ratio increased over 19%. it is projected to increase over 20% by the end of his second term. er -- you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> welcome back to "power lunch." i'm kayla tausche with a "market flash." we saw the market turn into the green following the president's remarks. that's been really good for the consumer staples sector which is to the up side by .75%.

voila. >>> time for the run down with cnbc's cindy herman and john carney. "wall street journal" says goldman is expected to slash the number of part mothers just 70 new names this time around, the lowest number of coveted partners since lloyd blank fine took over. john, you called this coldman's great deleveraging. why? >> goldman likes to talk about these people as if they are human capital but they are really human debt. they can make you a lot of money if you are one of the top executive, when times are good. but when times are bad, it actually -- they become giant cost centers. it cost a lot of money for goldman as a firm to have a lot of partners when their business slows down. they need to start cutting back. that is what they are doing. shrink the partners. >> got to pay the debt, right? >> it is an ebb and flow, i don't think anyone can be surprised. at the end of the day, i don't think we feel sorry for goldman sachs new york matter how many vampire, squid or muppet scandals they have, they are still goldman sachs, they comes to your campus, you wa

"squawk box" on cnbc and twitter.me years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> if congress fails to agree on a budget americans will see an average increase of 5% in federal income taxes. >>> the stock market coming off its worst week in five months amid some growing concerns about the fiscal cliff. joining us is peter bookvar. you've been writing a lot about the fiscal cliff and what it might mean down the road. first of all, do you think we've come to a solution and if not, what happens to the economy? >> well i think we come to a deal but there's this perception as long as you get a deal, everything is going to be fine. i'm of the opinion if you get a deal it's a bad one. in december the market will have its own dynamic and will cheer a deal but in 2013 we have t

>>> we're holding down the fort obviously here at the cnbc headquarters. we have a massive show lined up for you but i want to first of all do our bread and butter -- and that is taking a look at the markets. the nasdaq is doing a little bit better than the others but we're in the red across the board here. after some gains for the three indices of around 3% to 4% over the course of last week. there is some profit taking going on right now. we did of course cross across some key technical levels as well on friday. we're back below 13,000 on the dow and just sitting right on that technical level of 1,400 for the s&p. >>> okay. that's the business side of things. let's get back to the fun. brian, why don't you explain to us first of all about what exactly this road trip is and the methodology of how you came up with the top three cities. >> well, really a team effort here, mandy. thank you very much. yeah, we didn't just randomly pick cities. because then we'd be in barbados or something. right? about a year ago we created city indexes. 23 different metro ar

michael polk, thanks for coming on cnbc. you guys raids tsed the divident heading towards the end of the year, any thoughts of a one-time special big dividend? >> i don't think we'll go down that paths. of course that's the board's -- at their discretion. i doubt they'd choose to do that. we increased the dividend 50%. it is the second dividend increase we've taken this year. >> when you took over the company there were some issues. it's been a reorganization. a couple weeks ago announcement of job losses. but most of the job losses that you guys are doing are in the european markets. correct? >> that is correct. what we're trying to do is transform this company from a holding company to an operating company. >> what's that mean? >> take the structural costs out of the organization and put that money behind brand programming to help drive growth. we think that's the right choice to make. this company's been managed historically as a set of autonomous businesses and we are looking to build scale across the areas -- >> like th

. >> welcome to 60 minutes on cnbc. i'm lesley stahl. the information technology revolution changes our world on a daily basis, but one thing that doesn't change is our fascination with the so-called nerds who not only transformed society but became billionaires in the process. this edition features a trio of these tech titans: bill gates, the man who created the world's most valuable software company, microsoft; mark zuckerberg, the young, geeky computer programmer behind the internet phenomenon facebook; and sergey brin, the cofounder of google. we'll begin with brin. has there ever been a brand name like google? in less than five years, it went from an idea to a global verb, as in, "i googled this," or, "i google that," or, "i google you." back in 2006, shortly after the company went public, google opened its doors for the first time and let us google them. >> we have north america. >> oh, look at that. google cofounder sergey brin is showing us an electronic globe that displays the mountains of google searches happening around the wo

. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the price skyrocketed from $69 a barrel to nearly $150 before it plummeted along with the stock market. there are lots of theories about what triggered the price rise. as steve kroft reported in 2009, many people believe it had more to do with wall street speculation than with oil companies. >> to understand what happened to the price of oil, you first have to understand the way it's traded. for years, it's been bought and sold on something called the commodities futures market. here at the new york mercantile exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a ce

. >> welcome to 60 minutes on cnbc. i'm steve kroft. we live on an increasingly endangered planet, from the glaciers of antarctica to the rich prairie lands of canada. and the ultimate disaster may be financial as well as environmental. later in this episode, scott pelley reports from antarctica on the wide-ranging effects of global warming. and later bob simon has a story from canada on the environmental damage caused by the next great oil rush. but our first story involves a controversial waste product that could have damaging effects on the environment. there are more than 600 coal-fired power plants generating electricity in the u.s., and those plants produce 130 million tons of waste called coal ash. it contains concentrations of mercury, arsenic, lead, and other toxic materials. and as lesley stahl first reported in 2009, when coal ash is dumped into wet ponds--and there are more than 500 of those across the country-- the result can have an enormous health risk on the people living in nearby communities. >> we get about 48%, nearl

here is how they look now, cnbc obama index, not collapsing, down .2. still, down. romney stocks though, doing a little bit better today. that index up more than 1.5%. the opposite of intrade now. we showed you yesterday that republican -- get to the names here, these are who are in the portfolios a lot of names, read them for yourselves, not going to go through them that would eat entire show. the romney portfolio, obama heavily health care, some of the health care name, hospital stocks, are the biggest down stocks in these respective indexes today. heavily dude is coal, energy and oil. we gave you the question there was a republican who had the single best run during his term, calvin coolidge. since world war ii on average, democrats done better on their term notice stock market. the dow up 74% on average during democrat terms, trounce the republicans and the elephant, up 47%. important to remember, the next four hours a lot of headlines, tweet, rumors, even bad web pages going up today. be careful trading out there today, folks. all right. from cnbc hq, send to y

you can do cnbc 2012. she has been on squawk before.aria bartiromo has never taken the squawk walk. on her way to the set. we will talk about the long night ahead as americans cast their votes for the next president. check out the major indexes. we had green arrows pretty much across the board. don't know what that says and people have different ways of deciding what that nnindicates. let's take a quick look at oil. crude at 88.71. we are back after this. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ ♪ when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's s

. >> he joins us now a long with michael, cnbc contributor for destination wealth management and mary thompson joins us as well. russ, you're saying it's not priced in at this point. what should we be worried about? >> it's not priced in. it's very hard to find much evidence, either from investors or the sell side that people really expect to go over the fiscal cliff. i think what that means is if we get into the end of the year and looks like negotiations are not going forward, we may not solve this before 2013, we're likely to see rise in volatility, likely to see selling. >> how bad could it be? >> if you look at what might happened, in other words, we go from an environment where the economy is chugging along, uninspiring but growing 2%, to go over the fiscal cliff which means for that period when we're over the fiscal cliff, contracting, that suggests that multiples come down probably as much as 10%. in addition you're likely to see drop in earnings estimates as well. some real risk if we go over the cliff. >> a lot. >> michael, you're not as concerned about the impact of the fis

. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we look at stories of crime, punishment, and what money can buy. first, the high-stakes world of japanese organized crime, where big dollars saved the life of an infamous gangster. then we investigate how best-selling author and philanthropist greg mortenson used some of the assets of his multimillion-dollar charity. and finally, we talk to dennis kozlowski, the former ceo who once made headlines for illegal corporate excess. we begin with the yakuza, japan's not-so-secret version of the mafia. american law enforcement keeps a close eye on the yakuza, and that includes keeping tabs on a ruthless gang leader named tadamasa goto. as lara logan reported in the fall of 2009, goto not only got into the country; he was first in line for a lifesaving liver transplant. [haunting wooden flute music] >> this is the godfather, tadamasa goto, at a rarely seen ritual of the yakuza. filmed by the mobsters for their own private viewing, the top bosses are gathered to pay homage at a

. >> welcome to 60 minutes on cnbc. i'm leslie stahl. by most accounts, the financial crash of 2008 pushed the u.s. economy to the brink of collapse. in its aftermath, some of the country's biggest banks received very big bailouts while large numbers of small local banks failed. this edition features a unique inside look at the seizure of a failed bank and a rare interview with one of the men at the center of the 2008 economic crisis and the recovery plan that has followed, the chairman of the board of governors of the federal reserve system, ben bernanke. plus, morley safer asks, "can america afford the lincoln penny?" well, we begin with bernanke. after the crash of '08, bernanke invoked emergency powers, and with unprecedented aggressiveness, he's thrown more than $1 trillion at the crisis. the words of any fed chairman cause fortunes to rise and fall, and so by tradition, chairmen of the fed do not do interviews. that is, until march of 2009 when ben bernanke sat down with scott pelley. >> mr. chairman, i'm gonna start with a questio

you can of course catch all of it right here on cnbc. john boehner is also scheduled to hold a you news conference today, as well. st. louis fed president james bullard is saying the u.s. economy is strengthening. but he's cautioning that leaders must tackle the looming fiscal cliff. a conversation we can't get away from. speaking in missouri yesterday, bullard also says he doubts the central bank will extend a bond maturity extension program that expires at the end of the year. bullard is not currently a voting member, but he will ebb in 2013. and china's national congress continues with new leaders for the communist party set to be named later this morning. today a rising star said the party is moving towards requiring officials to their their assets. so an interesting piece in the chinese business press this morning. >> we have been talking about the fiscal cliff and -- >> we have? >> and yesterday somebody tweeted a new drinking game. every time they say fiscal cliff, you drink. they're right, but it's absolutely what matters. >> loo

we have it here first on cnbc. >>> also, a "power lunch" exclusive.eff jordan the venture capital firm behind facebook, foursquare, instagram, twitter. he's up next with his next big bet. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on groung at fedex office. closing right now. let's check the final trades as they come in. in terms of gold, we saw a little volatility as we did in the equity market just a short while ago. c comex gold is up at $1,726.70. industrial metals which includes the copper and platinum market, copper is up almost 2% on the trading session in terms of a percentage move. but that's off of the best levels of the day. palladium is traded at $686.50. up 1.66%. pretty firm day overall for the metals markets. >>> lot of volatility here on the trading floor. bob pisani's here with me. once again -- >> the

. >> welcome to 60 minutes on cnbc. i'm steve kroft. the so-called great recession sparked by the financial crash of 2008 continues to impact the business practices of wall street and the lives of americans on main street. this edition examines the seismic shock of the economic collapse on american families and what many of them believed were their most unshakable investment vehicles: their homes and their 401(k) retirement savings plans. we begin today with the culture of wall street and the role that it played in the crash. if you had to pick someone to write the autopsy report on the wall street financial collapse in 2008, you couldn't do any better than michael lewis. he is one of the country's preeminent nonfiction writers with a knack for turning complicated, mind-numbing material into fascinating yarns. he wrote his first best seller, liar's poker, about his experiences as a young wall street bond trader when he was still in his 20s. another lewis best seller called the big short: inside the doomsday machine was published in marc

. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we meet two silicon valley billionaires a generation apart who revolutionized the world of computing and the internet. facebook ceo mark zuckerberg and paul allen, microsoft's cofounder. we begin with mark zuckerberg and facebook. if you have a facebook account, you've probably reconnected with an old pal, shared photos with your family, and gotten advice from your friends on what to buy and what to read. but facebook has bigger plans. it wants to turn the entire web into one big social network. lesley stahl first talked with mark zuckerberg in 2008, and three years later, we sat down with mark again. he gave us a preview of his site's new profile page, a change that would affect the 500 million people who were then using facebook, an idea that zuckerberg had cooked up in his dorm room at harvard. >> when you first thought about this--19 years old--is this what you had in mind? did you see this far into the future, or is it way beyond what you dreamed? >> well, it's f

"mad money," week nights on cnbc. >>> here is a serious conundrum.sn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. and waiting in line. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certified. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. i gave bfive days later,ter i had a massive heart a

we want to get back to our cnbc all stars. joins us here. >> just to note that president obama has now become the president re-elected with the highest unemployment rate, 7.9%. we had a discussion, what matters more. he did have that 1 percentage point decline. the economy looked like it was improving into this re-election. october was better than september. that may have helped him. so to the extent that he barely got over the finish line. certainly looks like it will be that way in the popular vote. i think that momentum may have helped him overcome that huge burden he carried. >> that's a really good point. >> thanks. >> they have had a big night. some of that is to be expected. don't overread. i hope they don't overread that there is a big mandate to go out and raise taxes. people are still more confident in mitt romney in the economy. >> agreed. but the polls did show that a fair majority of americans believed that the economy was improving. 51% believed the economy was improving. >> you have got to add housing to the mix

stay with cnbc. we'll be right back.you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. [ male announcer ] can a car be built around a state of mind? ♪ announcing the all-new 2013 malibu from chevrolet. ♪ with a remarkable new interior featuring the available chevrolet mylink infotainment system. this is where sophisticated styling begins. and where it ends? that's up to you. it's here -- the greatest malibu ever. ♪ a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. w

join me and the cnbc team for extensive coverage. we are going to be here all night. >>> coming up this evening, will republicans be praying for rain tomorrow? we're going to show you the facts on how the weather could actually be a game-changer on election day. obama supporters more likely to stay home in bad weather. the full story up next. >>> we're going to see mitt romney elected president tomorrow night for a couple of different reasons. first of all, the early voting coming out of ohio is trending in the way of mitt romney, especially as compared to 2008. we also see young voters who came out so strong for obama in 2008 are not going to be doing that in 2012. charlie rose: will you endorse president obama? colin powell: yes. when he took over we were in one of the... worst recessions we had seen in recent times... close to a depression. and i saw, over the next several years, stabilization... come back in the financial community. housing is starting to pick up. the president saved the auto industry. and the actions he's taken

did you watch cnbc's coverage last night? republly can after republican came on right after ohio got called for the president. these people were just plain, out right sellers today. they bought in anticipation of winning. they sell what romney lost. most of my investors will say oh, yeah, hey, sure. let that run its course. i'm not going to sell my gap stores for target, right or wrong? however, i would rebut that we suddenly have a new word. the head of the european central bank picked up today, of all days, to say that things have worsened dramatically in europe including germany. that means there's a new sense of urgency to fix the europeanness and we're learning to be wary of the way europeans are going about their "bailouts." here's what the client would say. wait a second. we've been through this before. why do i have to take any action? come on, that's a fool's errand. you're just trying to churn me. i, with my broker hat on again would say, okay, sure, this, too, shall pass, i guess. but now let's talk about the fisca

jeff killer, cnbc contributor.e will drill down on thing, m and a action, conagra is buying ral core, what do you make of the deal? people feel it is a good deal for conagra because the ral corps space is the only place available. >> this activism theme we have seen talking about "power lunch" in 2013. actual acceptance price was about $107, not 90. >> exactly. quite a bit of premium put into the deal. let's talk about oil. because this is a phenomenon that you have never seen. no one. no one has seen it hasn't happened in the history of oil trading. tell us what's happening with brent crude now? >> brent crude the first time is take over trading contract. now the most traded commodity future in the world. ever since crude oil, wti here domestically as well as brent oversees taking over, a lot more relevance than seeing spread between these two contracts way lot of traders look at, above $20. i think that all stems from the geopolitical tension the lack of supply potentially out of the middle east. >> we have conag

cnbc contributor zach caramel is more optimistic. while mike santoli says a deal is already priced into the market. mr. party pooper, why do you think we get no deal at all? >> the same composition of congress existed before the election is what we have after the election. nothing happened before then. i'm just repeating what lawmakers said. chris van howen, representative out of maryland, said if nothing is done before they go on summer recess, you have to suspect nothing can get done by the end of the year. everybody is concentrating on this december 31st deadline. actually december 14th is the final day for congress. they can work through the holidays to try to get this deal done. we're looking at $600 billion according to the cbo and if you really want to look at all of 2013, you are looking at $800 billion to $900 billion. it is hard to imagine they could come to terms with everything that needs to be taken care of in just a few weeks from now. >> what happens to the markets if we miss that deadline, todd? >> they're going lower

sources tell cnbc that this is a deal. >> it's in the bag. you -- i'm going to keep saying it until you smile, herb. thank you. >>> what exactly is rich? the president believes it is those make 2g $50,000 or more or $200,000 as an individual but an eye opening report on the fiscal times says we may have to rethink that number. jackie deangelis, break it down for us, please. >> good afternoon, brian. lots of discussion regard rg the fiscal cliff. a piece of the conversation focuses on the tax hikes that the president is looking to impose on those high income earners, those who make $250,000 are the households that are considered rich in this country. answer to that question depends on where you live. for example, living in new york costs about double compared to living in peoria, illinois according to salary.com. new york employers may pay a bit more to compensate but only about 30% for similar jobs. also consider housing costs as well. a three to four bedroom house in glendale, california is about $750,000. comparable area, twin falls, idaho,

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i'm not going to come on cnbc and tell but it. he did say he thinks speaker boehner's press conference a little while after the geithner meeting really speaks for itself. let's take a listen to what boehner had to say. this is a little bit of what spooked the markets earlier today. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> so who is it, who's not being serious here? no surprise, the democrats think it is the republicans who aren't being serious up on capitol hill. take a listen to harry reid a little while ago as well. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. president has said the same thing. it's been weeks -- at least two weeks since we met at the white house. we're still waiting for a serious offer from the republicans. >> i folk harry reid here in the h

that's a cnbc hallway. this will be a cnbc exclusive coming up.f we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. ♪ welcome to the world leader in derivatives. welcome to superderivatives. >>> all right. we went to break and showed you mystery door. we said behind this door is something all of america is clamoring for. it's all the rage on social media. we're going to show you what's behind our cnbc mystery door. oh. >> busted. >> the h

cnbc's john harwood has made it down to the nasdaq. he's got the latest from camp obama as well as camp romney. john? >> melissa, this thing is going down to the wire. the candidates have been crisscrossing the swing states for the last 24 hours -- wisconsin, florida, virginia, ohio, all the places that matter. let's take a look first at the national polls. our last poll shows 48% for obama, 47% for mitt romney. the president inching ahead. the same thing has happened in some other national polls. more importantly for the president, look at the swing state numbers. start with the state of virginia, 13 electoral votes. the president's got a one-point lead, 48-47. in florida, with 29 electoral votes, a state mitt romney absolutely has to have, president obama leads by two points-47. and in ohio, the ultimate hinge point in this election, another state that mitt romney absolutely believes that he needs to have to get to 270 electoral votes. he is down 6, 51-45. now, of course, all of these things depend on how you define likely voters. th

"squawk box" on cnbc. rise above. and profit from it. do you trade? quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> welcome back to "squawk box," everybody. take a look at the move in the yen versus the dollar overnight. it's something that traders are certainly paying attention to. you can cite this back to the head of japan's main opposition party, calling for a move toward negative interest rates, which is why, you know, jarrod, we have been talking about this today, why is the 10-year yield so low at this point? >> it was below 1.6 this morning, i think it was 1.56. >> how do you square that with the whole fiscal cliff solution? >> as bad as we think they are here, look around. let's get do

cnbc's jon fortt joins us from san jose.on, good morning. >> i can't hear him. >> no, and i couldn't read his lips. i tried. did you see me trying to -- i have no idea what he said. he was talking about microsoft, that's all i know. normally we'd want to check him before i toss to him, just to see if you could hear him, that's just something i would try. maybe google just pulled the plug on that, i'm not sure. are they still rivals? they don't like each other. >> it could be apple, too. let's talk about jcpenney, the sales plunged at jcpenney hitting the company hard amid a transfor transformation by ceo ron johnson. bill ackman is giving the turnaround several years, bill ackman, founding and ceo of pershing square capital management, on the board of jcpenney, handpicked ron johnson and we'll talk about a column i wrote i think you're relatively disagreeing with the premise of the column which is to say this is a company that is struggling and at least in my estimation and by the way not just mine but i think a number of an

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eastern time followed by prime time coverage here on cnbc.im will be a big part of this. >> i can't wait. a big night. i think that -- look, as maine goes so it goes. new hampshire, i don't know. when i look at all of the polls, i here it neck and neck. when i look -- this is why i believe it will be for obama. that's not a political statement by the way. what i'm saying is i look at the states and obama does factor plus or minus he's ahead except for virginia and maybe florida depends on the poll. i urge everyone to go out and vote in new jersey. very difficult. largest polling place in our town closed. no power. people have to recognize that the adversity of a lot of people trying to vote today shows you that democracy is trying to be at work. not as easy as you thought. >> i have always said voting is messy. we do it better than just about anybody else. >> north korea has the 99%. everybody seems to turn out. >> regardless of whether the lights or off or not. >> another call today from deutsche bank saying that there's a rally if obama win

cnbc's phil lebeau has a preview, joined by a very special guest for a "first on cnbc" interview.hil? >> i'm joined by jim lents, president and ceo of toy outo motor sales. you and i were talking earlier, you believe we're at the beginning perhaps of an increase industrywide on prices of new vehicles. give she some percentages and what we're likely to see. >> the cost of new emissions, cost of safety and cost of meeting the new high fuel standards will require new technologies in transmissions, engine management systems, so i think you'll see just the cost of engines alone in the neighborhood of $800 to maybe $2,000. >> for individual models. in the luxury market, so much being paid on lexus is not ability to pay up with bmw and mercedes, how much is being driven, taking production out of the europe and china, and pushing it into the u.s., and then pushing inkrechbtives. >> i think that's a big product of it. we have a new e.s. this year, so i think we'll get closer, so there's no doubt that the cost of currency playing a big part in this. >> will i chase them, raise incentives fo

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means for every day americans with our guest from cnbc. spending cuts go effect in january. and actress barbara hershey is here, the star of many noble project. she is on the hit abc series. glad you have joined us. coming up right now. >> there is a saying that dr. king had said, there is always the right time to do the right thing. i just try to live my life every day by doing the right thing. we know that we are only about halfway to completely eliminate hunger and we have work to do. walmart committed $2 billion to fighting hunger in the u.s. as we work together, we can stamp hunger out. >> and by contributions to your pbs station from viewers like you. thank you. tavis: pleased to welcome the maria to this program. in addition to your column and the syndicated series, she is the host of a show on cnbc and joins us tonight from new york city. the dow have you back on the program. >> good to be with you. >> i mentioned all this drama, what happened at the closing bell the day? >> we saw a pretty good rally, there was rhetoric over the weekend that the two sides, republica

stay with cnbc. "fast money" begins right now. have a good night. >>> i'm melissa lee. let's get to the breaking news this hour. eamon javers joins us with the latest on the fiscal cliff negotiations in washington. eamon. >> and this is a big one, melissa. "the wall street journal" reporting just within the past few seconds here that according to republican congress aides who have talked to the wall street journal, they say they've obtained a copy of the white house's proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless

let's go live to cnbc's brian shactman with the latest. good evening, brian. >> reporter: hi, larry. as late as midafternoon mayor bloomberg was adamant that the race would go on. preparations were moving forward from the equipment to people signing up. but basically the negative momentum swung actually early this morning with the publication of a front-page article in the "new york post" about the huge generators that were being used to power the new york city marathon in central park. there was actually a third generator sitting idle. all three of those could have been used for recovery efforts. well, it exploded on twitter and facebook and eventually public figures came and spoke out against this. this afternoon, later in the day there were meetings and major bloomberg, canceled, didn't postpone but canceled the marathon. here are some of the statements from the mayor's office. while holding the race would not require diverting resources from the recovery effort it is clear it has become the source of controversy and division. we cannot