of a ring fencing but not a direct separation of the two paul volcker former chairman of federal reserve america was here in london last week and said that the current system as iterated would be insufficient and lead to a creep getting back exactly to where we were with loopholes being exploited what about is that what's hard you've got to you've got to give the proposal some sort of challenge some coom look and say that the thing hasn't worked we're going to start it as an exam we have to me want to keep making the same mistake over and over again as a definition of insanity right that's true if you're right if you have letting banks run with the ball without any constraints then. they themselves are their own lobbyist but there are a lot of things happening with about to go ball three which is saying that they should be putting more capital against that loans which is restrictive i mean that's something that is going to be restricting their activity if you have to put couple you know one capital against only about three so to say that we don't do anything we're lying that sort of casino capit

federal reserve. >>> binders, jobs, and america's future. reaction to the presidential debate. >> i thought he did a good job last night. i thought we had a second debate where, you know, governor romney wouldn't even commit to tell us anything about the details of the budget. that ought to tell people all they need to know. >>> dropped like a rock. lance armstrong was sacked by almost every company he represented. a devastating day for the once represented. a devastating day for the once heralded athlete. captions paid for by nbc-universal television >>> good morning. i'm lynn berry. well, a 21-year-old man from bangladesh is being held this morning on charges of plotting to blow up the new york city headquarters of the federal reserve. prosecutors say he was inspired by osama bin laden and that he tried to recruit others from across the country not realizing those were undercover agents. >> reporter: this is the face of suspected bomber quazi muhammad nafis. this was his target, the federal reserve bank. he parked a van packed with what he

federal reserve. >>> binders, jobs and america's future. reaction to the presidential debate. >> i thought he did a good job last night. i thought we had a second debate where, you know, governor romney wouldn't commit to tell us anything about the details of the budget. that ought to tell people all they need to know. >> this is a pivotal time in our country's history. we're at a crossroads, ladies and gentlemen. >> and dropped like a rock. lance armstrong was sacked by almost every company he represented. a devastating day for the once heralded athlete. good morning, everyone. i'm lynn berry. this is "first look" on msnbc. >>> a 21-year-old man is being held on charges of blotting to blow up the new york city headquarters of the federal reserve. now, prosecutors say he was inspired by osama bin laden and that he tried to recruit others from across the country. not realizing those recruits were undercover agents. wnbc's jonathan dientz has details. >> reporter: this is the face of quazi nafis and this was his alleged target, the federal re

i came to this conclusion, about the federal reserve bank in new york, targeted america's economy is iteration of america. most influential of the federal reserve banks. >> this speaks to peter's point. that's lifted straight from wikipedia. if you went outside and asked ten americans, ten new yorkers about the federal reserve, i don't think they could tell you anything about this building or what it does. some people may know they have the biggest gold vault in the world. it's not a well-known landmark. >> is that brilliance or stupidity? >> what he got he didn't know in any other fashion. his words were exactly what he got off of the internet. >> i wonder, for peter, what he makes out of the fbi and new york police letting this get all the way to the point where the guy pushes the trigger. are they also trying to send a message to the greater terrorism world that, you know, we can get you? we're on to you in some public way or was this just an attempt to make sure you had enough probable cause for an arrest? >> i think maybe a little bit of both. certainly if you read the complaint

federal reserve. he said he wanted to destroy america's economy. the new york federal reserve certainly a large goal and certainly an important regulator, but not critical to sort of the day to day operating of the economy. however, when you look at what happened and when you listen to the new york police commissioner, they very much think that he was a real threat. listen to what ray kelly had to say. >> we're still very much a covet the target by terrorists. they say new york is the top of the terrorist target list in this country, and i think this just reaffirms that. i think it shows, again, that law enforcement is vigilant. certainly we understand that the public can become complacent. we've had no successful attack here until 11 years, but law enforcement can't be. >> so, michael, again, they believe he was working alone. they are still looking into every detail to make sure that is the case, but even one suicide bomber in a crowded city like new york, which has seen its share of terror threats, is a very serious problem as far as they're conc

debt ceiling that would also betray what ben bernanke the head of the federal reserve bank the central bank in america said oh that holding gold is just a tradition there's no reason for us we might as well be hyperinflationary chickens we know. after it has been stripped of its currency delusions there is trying to figure it all out all been. well first you know. a currency starts to collapse through slowly through inflation you see prices rising every month but when it's a hyper inflationary collapse that's a political event people have lost complete faith in the currency so it's all about perception right so this takes us to the next headline s e c suze the one reading for not on wall street's take this is on bloomberg out comments from william d. cohen and he says the securities and exchange commission it seems has finally lost its mind in april motivated by what i consider pure maliciousness the f.c.c. initiated a cease and desist administrative proceeding it deems necessary for the protection of investors and the general public interest against jones rating agencies and its principal owner sean

for three straight quarters, the european economy has been shrinking and federal reserve chairman ben bernanke said today america is feeling the impact. >> it has been a problem for the u.s. economy. we have seen head winds coming from slowing trade. >> reporter: if you combine imports and exports, the european union is our biggest trading partner. >> so we have a very strong interest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. what brings the europeans back to growth? no one started to address that issue. it's like saying what's going to bring the united states back to a healthy and manageable deficit. >> reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. the ratings agency fitch has said uncertainty about u.s. fiscal policy is the single-biggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. that is precisely what the americans are doing here

debt ceiling that would also betray what ben bernanke the head of the federal reserve bank the central bank in america said oh that holding gold is just a tradition there's no reason for us we might as well be hyperinflationary chickens we know. after it has been stripped of its currency delusions there is trying to figure it all out all been. well first you know. a currency starts to collapse through slowly through inflation you see prices rising air.

federal reserve. >>> binders, jobs and america's future.n to the presidential debate. >> i thought he did a good job last night. i thought we had a second debate where, you know, governor romney wouldn't commit to tell us anything about the details of the budget. that ought to tell people all they need to know. >> this is a pivotal time in our country's history. we're at a

america's financial infrastructure. he wanted to detonate a bomb outside the federal reserve bank in new york.building where transactions from the nation's largest banks are process and a large reserve of gold is stored. he came to the u.s. on a student visa in january to study cybersecurity. authorities say it lasted just one semester. the f.b.i. started watching him after he tried setting up a terror cell using an online chat room and facebook. undercover agents then started working with nafis posing as al qaeda operatives. he told one agent is what i really mean is i don't want something that's like small. i just want something that's big, very big. his first target wall street. >> he goes to the new york stock exchange. he sees significant security there and he shifts his target to the term reserve bank. >> reporter: undercover agents helped nafis fill would he thought was a 1,000-pound bomb in a van but it was actually made of harmless materials. on wednesday morning he drove the van here to the federal reserve building. he was arrested when he tried to detonate the bomb from a nearby hot

he wanted to, quote, destroy america, blow up the federal reserve bank with a 1,000-pound bomb. romney's binders full of women comment. it's kind of taken on a life of its own. how accurate was the statement about hiring women? will that hurt him or help him with the female vote? >>> also, a new face. the incredible reconstructive surgery that's given this man a second chance at life. you won't believe what the "before" photos look like. we'll talk this morning to the doctors who led the transplant team. >>> is and is this question appropriate in a debate? >> miss long, have you read "50 shades of grey"? >> wow, they both turned red on that question. it's our "get real" this morning. it's our thursday, october 18th, and "starting point" beginnings right now. >>> good morning.

federal reserve bank. his name is quazi mohammed rezwanul ahsan nafis he came to america on a student visa, and studied cybersecurity at southeast missouri state university. new york police say nafis loaded what he thought was a bomb into a van, parked it outside the federal reserve building, and planned to detonate it remotely with a cellphone. and the new york times says, nafis briefly considered a plot to kill president obama. nafis was caught after the f-b- i got wind of the plot and arranged for him to buy a fake bomb. president obama has chosen a chicago venue for his election night rally. win or lose, obama plans to spend the evening at mc-cormick place. this victory rally in 2008 drew more than 200 thousand people to grant park. mc-cormick place is a much smaller venue. since it's indoors, there's no risk of rain, and much less risk of a security problem. chicagoans will get a chance to see a debate between the third- party candidates in the race for the white house. larry king will moderate the debate between libertarian candidate gary johnson, green party candidate jill stein constitution party candidate v

federal reserve bank. friends and family say 21-year- old kwauzi nafis wanted to come to america and study and often stated true muslims didn't believe in violence. federal authorities say nafis was determined to become a martyr for the cause. he was arrested wednesday as part of a very elaborate fbi sting. >>> $20 billion in value gone in minutes. that's what happened at google when a 3rd quarter earnings report was released mistakenly hours before the market opened. the stock value dropped 9% in minutes. it finished the day down about 8%. also, after the closing bell, microsoft reported lower profits and revenue ahead of its windows 8 launch. >>> and sunnyvale's advanced microdevices or amd says it will lay off about 1800 people, about 15% of its workforce. the company's revenue was down 25% in the 3rd quarter. amd is intel's smaller rival in making microprocessor chips for personal computers. >>> well, the reviews are in and four out of five online reviews of restaurants or other services are fake. it turns out the companies are offering cash for positive testimonials. yelp is cracking down on that thou

videotape he said he wanted to destroy america's economic power just like those 19 hijackers who went into the world trade center. he wanted to destroy the federal reservek in america because he thought that would break america's economic power all consistent with al qaeda missions. >> exactly. again, they continued to see many of these alleged terrorists attack the financial center of the united states. and that of course centered right here in new york city, those are just targets they like to go after time and again. certainly this is more evidence of that. >> susan candiotti all over this story. thank you. >>> it's a safe bet that the federal reserve bank of new york isn't anywhere near the top of many tourists must-see lists for a visit to new york city. so why would this potential terrorist be interested as we've been reporting just like the world trade center, it's a symbol of the united states' economic power. consider this, the new york fed holds about 15 million pounds of gold, that's more than exists at ft. knox. it's also the world's largest accumulation of gold. and most of it belongs to some 36 governments and central banks and internation

america. a bangladeshi man in federal custody now after he allegedly tried to blow up the federal reserve buildingn new york city with a car bomb, that of course is in the heart of america's financial center not from where the world trade towers once stood. thankfully the feds broke up that plot but it is a real reminder that terrorists remain committed to striking at the heart of our democracy. our next guest says al qaeda is not on the run and they simply moved shop so to speak. bill has more. bill: i want to bring in kt mcfarland, national security analyst. good morning to you. >> good morning. bill: we'll get to this big debate. monday night is all foreign policy. as you see as it right now what is the state of al qaeda or groups like to think they are linked to al qaeda or the next generation? >> well, al qaeda is on the move. it is not just expanded into other parts of the middle east. it is expanding all over the globe. it is now in northern africa. in eastern africa. it is in western africa. it is now in countries in the middle east. it back in iraq. it is in syria. it is in yemen. it is i

perhaps the most important cause of america's relative health is the federal reserve. ben bernanke understood the depths of the problem early and responded energetically and creatively. the clearest vindication of his actions has been that the european central bank after charting an opposite course for three years with disastrous results, has now adopted policies similar to the fed's, and thus avoided a potential lehman-like collapse in europe. the leading experts on financial crises argue that the united states is performing better than most countries in similar circumstances in history. consumers are paying down debt, and consumer confidence is at its highest levels since september, 2007. every american recovery since world war ii has been led by housing except this one. but finally, housing is back. two weeks ago, jamie dimon, chief executive of jpmorgan chase, declared that housing had turned the corner and predicted that as a consequence, economic growth in 2013 would be so strong that the fed would have to raise interest rates. corporate profits are at an all-tim

federal reserve bank in manhattan. nafis allegedly told authorities he wanted to destroy america by going after the nation's financial institutions. he ultimately settled on the landmark bank. he didn't realize the contacts were actually members of the fbi's joint terrorism task force. new york city police commissioner ray kelly said terrorists have plotted 15 attacks against new york since 9/11. >> we're still very much a coveted target by terrorists who said new york is the top of the terrorist target list in this country and i think this just reaffirms that. >> reporter: kelly praised officers for keeping the city safe. >> i think it shows again that law enforcement is vigilant, certainly we understand that the public can become complacent. we've had no successful attack here in 11 years but law enforcement can't be. >> reporter: nafis came to the united states on a student visa. he was a cyber security major at southeast missouri state university from january to may of this year according to a spokeswoman for the university. i'm ed payne reporting. >> a pair of hikers who spent days lost inside montana's national park are sha

america. most active by volume and most influential of 12 federal reserve banks. >> that's pretty amazing. >>t with real explosives, he could have done serious damage. >> but if you're trying to ruin assets, there's cash in there as well, and gold, and it's a pretty solid building. you can see. the vault is extra solid. so it's a strange thing. i'm not sure that symbolically, people would say, oh, my god, the guy got some gold, or blew it up. but he definitely knew it was important. it is a very important place, and it's very important to the financial system. it is, also, by the way, the authority that regulates the financial services and the banks. so it's crucially important. he had the right idea about how important it was. i just don't think most people do. >> well, timing is everything, ali, so we're glad that you were there. >> i'm glad it didn't happen. >> reporter: thank you and susan candiotti, thank you as well. and coming up, peter brooks will walk us through the plot and the sting. >>> the confessed mastermind of the 9/11 attack speaking out in court, lecturing his military tribu

man arrested in a sting operation for allegedly trying to blow up the federal reserve bank in new york wanted to, quote, destroy americaey say the 21-year-old suspect sat in a hotel near the bank and used a cell phone as a trigger to try to detonate what he thought was a 1,000-pound bomb. the suspect came to the united states on a student visa that bangladesh. >>> passengers on an air canada flight were asked to look out the window to help find an australian sailer whose yacht was there for nine days. they asked them to investigate an emergency beacon. people on the plane quickly spotted the yacht and help arrived in the nick of time and he was saved. >> isha, coming up, a 360 exclusive. >>> the man who for years hit behind the screen named violent acres while moderating the online forum called jailbait goes on camera. is he sorry for all the creepy things he did? our interview ahead. and experienced retirement specialists can help you build a personalized plan. and with our no annual fee iras and a wide range of low cost investments, you can execute the plan you want at a low cost. so meet with us, or go to etrade.com

federal reserve and the man. who is taylor, john taylor and he is a professor at stanford university, a senior feller at the senior institution as well. five keys to restoring america's john, stay on the federal reserve, it is good to see you, by the way. how much trouble has the federal reserve showed for this country and whether you want to talk about a weakening dollar or preventing inflation, how much trouble are weak and just because of what the fed is doing in recent years? >> i think the fed has gotten quite unpredictable in its policy. i like to look that good. and monetary policy. the fed was pretty predictable. you knew what they would do. it created long expansions. recently, it has gotten to quantitative easing. some people like and some people do not. it has been very hard to predict what the feds are going to do. to me, if somehow the fed can get back to the strategy, not necessarily the same, but some strategy it would be a good thing. dagen: to focus in on the bond buying or quantitative easing that has been going on, the most recent effort focused on mortgage securities, do you like it or do you not like it? >> no, i do not like it. i think it is not

america. i'm mitt romney and i approve this message. >> we're learning more about the of trying to blow the federal reserve in new york. >> quaasi nafisas arrested as part of a federal sting by the authorities. tonight, one of his former classmates spoke up. >> he is not an evil person, but such an evil thing, i -- i am stumped. >> he says that nafis told him that he did not believe that osama bin laden was behind the attacks because a true attempt such at thing. learned he was to target president obama. >> there are concerns about a prominent institution in the nation's capital tonight. national geographic will air a about the killing of osama bin laden next month. it has raised the ire of some local extremists, and stephen a reports the title of the also bothering some. >> a spokeswoman for national geographic says she has not of a specific threat and confident security is adequate. still, this film and its scheduling are receiving criticism. national geographic headquarters, widely reported to the object of jihadists' anchor, because of a film they plan to run next month. "seal team 6, the raid on osama bin laden." >> as crazy as i

america's economy. that is what vestigators tell us. he hatched a plot to blow up e federal reserve bank here in lower manhattan. we're on liberty street. what the suspect did not know, he was closely monitored and watched by the fbi and nypd. as you can see behind me. there are new york police officers standing outside the wating the federal reserve bank in lower manhattan where earlier a man attempted to detonate what he believed to be a department of justice bangladeshinational. he came to the united states in january 2012 for the le purpose of carryingut a plot on u.s. soil. he is charged with attempting to use a weapon of mass destruction and attempting to import materials from al qaeda. he assembled what he believed to be a 1,000 pound bomb in the van. he drove to the new york federal reserve bank in lower man hat and an attached the detonator what he belied to be the bomb. he parked the van and walked to a nearby hotel and repeatedly tri to detonate the bomb and the van did not blow because the explosives were not real and. consequences. it is important to emphasize that the

america." they're going to have the latest on that developing story of the this warted terror plot against the u.s. federal reserveere. we're always online at abcnews.com. jimmy kimmel is up next. and we'll see you here tomorrow.

america this year. on the one hand. on the other hand we think it's a great play on what the federal reserve is doing. when they put all this money into the economy they are 12i78ity-- stimulating housing. citi has problem relating to housing. they are stimulating emerging markets where citi is the strongest. >> all right, let's take a look at some of your other picks besides citi. you like goldman sachs. you have been telling us this all year. and the regional bank suntrust. again, was's the attraction? >> suntrust again is in the southeast. it has continued to have credit problems later than a lot of the other banks. but that's been a bad thingment but now we think it's a good thing. because right now we can still see a lot of positive improvements as we start to see a pick up in the economy and housing and places like florida, can help move that stock back up. so we still like suntrust. >> we just have about 45$p)-sec. a new round of bank stress tests coming up. how do you think banks are going to do. are they strong enough to withstand a financial downturn? >> well, i think they're strong enough.

america. the federal reserve in new york if it was in fact such a target obviously had that kind of ambition. >>> let's get to some other news we're following. we're down to only 20 days until the presidential election. this afternoon president obama and mitt romney, they are squeezing in some campaigning in the all-important swing states before they have to hunker down once again to prepare for their third and final debate monday night. last night's fiery town hall debate is very much on their minds today. our white house correspondent, dan lothian, was with the president at his first stop today in iowa. >> reporter: wolf, even before the president arrived here at cornell college in mt. vernon, iowa, supporters were bragging about the performance one fired up the crowd by saying president obama was passionate reminiscent of the candidate they saw here in iowa in 2008. >> sharp, focused, passionate, knowledgeable, game on. >> reporter: with his sleeves rolled up and his tie loosened, the president strutted on to the stage in a sweltering gym and reminded voters about last night. >> as many of

federal reserve bank in new york. his foiled plot is raising questions about america's student visa process. 21-year-old bangladeshy who camed to united states on a legitimate student visa. then he transferred very quickly to the asa institute of business and computer technology in new york city. that move did not trigger a red flag, and that, according to elected officials, is a problem. >> but we do know that the student visa program in the hands of a few wrong-doers, so-called, sham universities around the country, are serving as a back door for foreign nationals to enter our country improperly. >> "outfront" tonight is susan candiotti. you find out how easy it might have been for this young man to get a student visa? >> i talked to another student that attended that same university in missouri, and this is a student from bangladesh. he told me that the process he thought took a really long time. i said how long? he said a month and a half. i don't think that's that long. he said he was asked three questions and three questions only in an interview in bangladesh. the three questions were,

federal reserve facility and try to detonate it. that goes way past inspirational. >> they have the suspect on tape saying he wanted to destroy america and was a follower of our beloved sheikh osama bin laden. >> our beloved. thank you, jonathan. first john i ever had, federal reserve bank. i'm glad they nailed him. let's get right to our special guest on this. peter king. chairman peter king, welcome back. first of all, i believe you've been quoted as saying that actually whether it's domestically or internationally, you believe al qaeda may be more dangerous now than ever before. is that an accurate quote? >> larry, it's very accurate and many intelligent experts agree with me. al qaeda going back through or four years ago they realized under the bush/cheney administration we built up too much defense for them, on offense against them. they decided to change their tactics and rather than just al qaeda, now you have al qaeda and arabian peninsula, al shabab, and lone wolves recruited by al qaeda and al qaeda sending people into this country or under the radar screen, clean people if you will with no record or no criminal record or n