at unicredit securities and lie to me or to commute off he is chief economist at the critter financial corp ok eric i'm going to go to you first you're very well known fund manager here you've been here actually longer than i have and you write this letter weekly right off its monthly no truth and beauty and russian finance which is not only very smart it's very funny so my first question goes to you how do you correlate high oil prices and investment in russia do we correlate well or not well i mean there is a persistent myth that the russian economy and market is only about oil and i've since quit a quick argument with it i mean since oil is a one way bet and it's in the medium term i don't really think it matters very much the point is that what really is been slowing the investment into russia has been a combination of extremely negative coverage in the western press and the russians own god given talent for screwing up their public relations the russians can make themselves look bad giving out christmas came the importance and this has different effects and different parts of the econo

losses and european worries have cut down investor risk appetite resource and financial stocks among the top losers on elmina corp of china is declining around two and a half percent and h.s.b.c. said in one point three percent in tokyo so much of a metals and mining shed just under three percent up close. and here and russia falling oil prices and to us losses overnight are fueling father bearish sentiment on the markets here. after wednesday's significant drop the r.t.s. one point six percent during the first twenty minutes of trade this morning miles that is also losing ground point four percent in the red. let's have a look at some of the individual show moves loek mortgages are grabbing energy and battles as down gas from is down just. one and a half percent lower as investors seem to be unimpressed by the news of the company's urges of an iron ore company and brazil bucking the trend as normally coal gagne's growth straight session up almost one percent this. the world's top producer the soul has tripled net profit to almost seven hundred two million dollars in the first quarter up if it could be its the fu

we though get fresh out with a new batch of financial results to digest from aol, time-warner and news corp. checking the numbers wall street, dow standing at 12,807, climbed a fraction in trading yesterday. meantime, the nasdaq was down by 22 points and the s&p 500 was off by 4. >> you don't hear this very often. attention, shoppers, 30% off in aisle 4. the safe way in district heights is closing so the grocery store in the 5800 block of silver hill road is selling merchandise for up to 30% off. safeway says it is closing the store because it wasn't performing as well as anticipated. >>> maybe you can pick up some discounted peanut butter. that might be the only way you'll get a break nowadays. analysts believe peanut butter is about to reach its highest price in 25 years because this year's peanut crop not looking so good. the prices for plastic jars and sweeteners are going up as well. it's gotten to the point where you just say food item xyz at all-time highs because everything is high right now. >> unbelievable. >> peanut butter. >> i use almond butter. i'm sure that's going up, too. w

corp. and future challenges to our economic and financial stability. much has been written and said about the recent financial crisis and the factors that led up to it. my written testimony summarizes four factors that i consider the most important. excessive reliance on debt financing, misaligned incentives and finance legal and regulatory arbitrage and inadequate framework that allows financial companies to become too big to fail. the fdic was created in 1933 in response to the mysterious financial crisis in american history. our mission is to promote financial stability and public confidence for bank supervision, deposit insurance and the orderly resolution of failed banking institutions. working with regulatory counterparts the fdic has played an instrumental role addressing the recent crisis. our actions helped restore financial stability and paved the way for economic recovery. my written testimony includes comprehensive account of those actions. i am proud of all that the fdic accomplished in the past five years. my greatest satisfaction is the

financial losses. >> the old mississippi river gets on a rampage every now and then. >> reporter: one expert said the corps made the right call. >> it's the worst one we have ever had. our job now is to get the water to the gulf of mexico with the least amount of damage to anybody and get it down as fast as we can. >> reporter: the flood zone is anticipated to overtop banks in spots along much of the river's length, from minnesota to the mouth of mexico, with 11 locations in 6 states recording new record crests. today in memphis, workers finished sandbagging outside a school in the harbor town section downtown, a full week ahead of a projected 48-foot water crest, roughly 14 feet above flood stage. >> we're going to be okay. it's the people in the greenville area, helena, all the way down the chain, it's going to be serious. >> reporter: genie has watched water steadily creep toward her cottage on the wolf river. now just feet away from entry. do you have flood insurance? >> no, we do not. >> reporter: turning thursday into moving day. >> this will all be under water in a couple days. >> reporter: she expe

hong kong stocks iraq with the gains in the street financial shares but a decline in some resource stocks is weighing on the market and women of corp of china is dropping around two percent this hour. here in moscow the market started friday's trading on a positive note the r.g.s. up half a percent the my six up point two percent this move to see how the stocks are faring gazprom is in the lead it's up twenty five percent this hour as the company maintains its stance against the. energy package burbank is down point two percent approve the sale of seven point eight percent of the state's share in the largest lender. also gaining one of the strongest stocks this hour. and this is hoping for a strong rebound in the russian markets up to several weeks of the client may be in for disappointment at least that's the view of the bank. the markets will be somewhat stuck at the current levels for some time this relates to the fact that investors have to figure out several important global trends that require like what they're saying for one the commodity price environment the market is saskin itself whether the oil price is overvalued as wa

corp., sheila bair, is urging congress to increase the debt ceiling. she will set down for the fdic in july when her term ends. this house financial oversight subcommittee hearing is two hours. >> today we are joined by the fdic corp. chairman, sheila bair. i would like to thank the chairman for more dedicated service. when thank you can say, it has not been a dull five years for you. you have had a lot of activity and i thank you for your service to our country. i hope this will provide a forum for our members to understand the fdic in the financial crisis. the current state of fdic insured banks in general -- the recent passage of dodd frank enhances the role of the fdic. they are charged with unwinding failed financial institutions, providing a liquidation of artie. i am interested to hear about the fdic's ability to balance their new powers with the traditional role of financial regulator. an unfortunate effect of the financial crisis has been an increase in bank failures. the rate has increased dramatically in the last few years which won a good 40 failing in 2009, when added 57 -- 157 in 2010. the fdic requires banks to prep

corp. today's top stories from our review of the week massive anti-government protest rock spraying with a fifth of the population unemployed the country could now follow in the financial footsteps of greece ireland and portugal. the future of troubled economies could be compromised by the arrest of dominic stross car but now ex head of the international monetary fund that led the e.u. bailouts even in the face of resistance from richer states. in georgia thousands of protesters take their anger of president psycho's really on the streets of the capital tbilisi this is the head of the opposition tells r.t. that a revolution has truly started. and there are still question marks hovering over to me from investors plans for the presidency pretty well the russian leader dogs giving a definitive answer in his recent q. and a sessions with the media. and since that media conference has left some one answered questions then he called out with press secretary. sheds light on some of the most pressing issues in russian politics right now. it was the sixty four thousand dollar question but we're all still waiting for the payout in his biggest ever news conference president the m

satellite corp. 2011] >> up next, the head of the federal deposit insurance corp., sheila bair, and testifies about financial regulations and the banking system, and then general james amos on u.s. strategy in afghanistan, and after that, on the patriot act. on tomorrow's " the washington journal, we will discuss the u.s. supreme court decision requiring california to reduce its present population. then the republican senator will talk about the house gop proposal to make changes to medicare. after that, historian and author douglas brinkley joins us for a celebration of the world war ii memorial, and in the afternoon, a member of the palestinian council will discuss the recent unrest and the arab world and what it means for the peace process. that is live at the carnegie endowment for national peace. >> you are watching c-span, bringing you politics and public affairs. every morning it is "washington journal," connecting you with journalists, and weeknights, congressional hearings and policy forums. also common on the one -- also, on the weekends you can see our signature programs and saturday, ."he communi

corp. 2011] >> this morning on c-span's "newsmakers," a campaign on -- a discussion on campaign 2012. then federal reserve chairman ben bernanke on the current federal budget debate between president obama and congress. our financial coverage continues with virginia governor bob mcdonald on the fiscal situation of his state and later, admiral mike mullen's remarks on military lead leadership and the middle east. >> joining us on "newsmakers" is jack kimball, the chair of the new hampshire republican party and matt strawn of the chair of the iowa republican party joining us from manchester and des moines, respectively. here at the table is jonathan karl of abc news, senior political correspondent, and david catanese, the national political correspondent for politico. thank you for joining us. jack kimball, let me begin with you with donald trump's visit to new hampshire this past week. what impact will his potential candidacy have or has it had on the other republicans in this field? >> hard to tell right now. it was an interesting visit. he certainly draws a crowd. but i think that what we're going to see here in new hampshire is -- and we do a pretty good job of it, we tend to do a good job of adding the candidat

financial professionals help you reach your goals. >>> it's a catch 22 on the mississippi river now. the army corpset to open a spillway in louisiana today. the last time it was opened -- 1973. now why would they do this? well, it would divert potential floodwaters from baton rouge and new orleans. but then other communities down river will be flooded. now flooding could close the river to shipping as well at the new orleans port on monday and that would add a huge economic impact on the region. as i bring in reynolds wolf now, you talked about this earlier. people have been trying for a long time to control water. good luck with that. first of all. but how do they make these decisions? let's save this area but, man, we have to go destroy this area. >> you're forced to make a decision. you've got to. who is going to suffer the most? i mean it's very, very difficult to make. we're talking about potential of about 3,000 square miles being underwater. some places deep as 25 feet. and a lot of this can be headed down stream to morgan city which is 12,000 people live there. so really a rough time. let's

financial losses. >> i guess they got the last nerves i had left. >> a corps official defending the decision saying public safety is the number one concern. the flood zone is anticipated to your top banks among much of the river's length from minnesota to the mouth of the gulf of mexico with 11 locations in six states recording new record crests. >> do you have flood insurance? >> no, with do not have flood insurance. >> reporter: it's moving day for jean, with water close to entering her cottage downtown. >> we have a beautiful spot. we are going to be leaving. we are going to be flooded. >> reporter: later today the army corps of engineers is expected to detonate the third and final opening of the levee and they prepare to make use of the floodgates downstream to keep water from as many people as possible. >> our thoughts are with those people fighting that. thank you. >>> one of the most direct calls for libyan regime change as secretary of state hillary clinton urges gadhafi's ouster. richard has more. good morning. >> reporter: good morning, natalie. if there was any doubt about what the real mission

financial and otherwise, the casinos in tuna closed. between the yazo and the mississippi people are evacuated. some roads closed off. and the army corps of engineers keeping a watch on the levees between baton rouge. they opened a spillway to relieve some of the pressure and they may have to open another spillway north of baton rouge, that would wipe out a lot of farmland. but they will do it if they have to, to relieve the pressure from the rising mississippi. rebecca. >> randall pinkston in memphis, thank you. joining us is the memphis mayor a.c. whoort on, jr. >> thank you. >> so now you have the mississippi river expected to crest 24 hours ahead of schedule. how is that changed your game plan? >> actually, we don't have 24 hours. they moved that date up. it should be around midnight tonight between midnight and early tomorrow morning. so, we don't have as much time. fortunately, we're ready for it. >> you're ready for it. what ways are you preparing the city? you evacuated a number of individuals and homes there. >> well, we've learned from other incidents such as new orleans, sometimes it's not enough to get on tv and tell folks

copyright nationl cable satellite corp. 2011] >> freedom of expression was among the topics that juan williams spoke about. his remarks are next. sheila bair testifies about financial regulation in the banking sector. later a kentucky senator on the patriot act. >> on tomorrows "washington journal, we will discuss the u.s. supreme court decision requiring california introduced the prison population. republican senator john will speak about the house gop proposal to make changes to medicare. after that, douglas brinkley joins us for a segment about the world war ii memorial. it is each morning at 7:00 a.m. eastern. a member of the palestinian legislative council discussed the recent unrest in the arab world and what it means for the middle east peace process. >> the c-span video library makes it easier to follow campaign 2012. get instant access. it is all searchable and free. the video library is washington your way. >> are the three day memorial day weekend, commencement addresses from across the country. leaders from across entertainment offer their advice and insights to the graduating class of 2011. it is memorial day weekend on c- span. >> juan williams talks

national cable satellite corp. 2011] >> coming up, federal reserve chairman ben bernanke on the current federal budget debate between president obama and congress. our financial coverage continues with bob mcdonald on the fiscal situation of his state and later joint chiefs of staff mike mullen's remarks on military leadership and the middle east. >> what i try to do is tell a story with visuals instead of words. i'm writing paragraphs, they just happen to be with images. >> carol guzy has won the award more than any other journalist. >> great thing about being a journalist is the variety we get to experience, so many parts of the human condition on so many different levels. >> she'll talk more about her craft tonight on c-span's q&a d. you can also download a podcast of the show. it's one of our many signature programs available online at c-span.org/podcast. >> federal reserve chairman ben bernanke held the first news conference in the federal reserve's 97-year history. after a meeting with the central bank's monetary policy committee. he addressed the issue of rising gas prices and the current federal budget debate between president obama and congress. this

voiced concerns the cost of financial and human capital is outweighing interest or vital need in afghanistan. i wonder what is your response to that perspective and how the marine corpsis vital to securing those interests or those needs? >> you know, i'm not, truly i'm not qualified to, the answer to cost and human capital and money outweighed our national interest. i can't answer that question. that's for the very most senior leadership of our country to answer. i'll just tell you that, there's been a fairly healthy price paid. we paid a pretty healthy price in iraq. i think if you use iraq as a little bit of a model, we lost 851, move your head that way. we lost 851 marines killed in action in iraq and, just about 9,000 wounded. various kind of wounds. that's a pretty healthy price. but if you look at iraq right now and look at the anbar province and you, i mean i keep going back and i say, when's the last time anybody saw anything in the paper about fallujah or ramadi or, any of these places that were in the headlines of our daily newspapers? so you ask yourself the question, was it worth it and hasn't been a commander on the ground, haven't lost my marines, haven