that based on some analysis that we asked our consultants to do, where they looked at hospital financial data to give us some summary information about this based on the credit rating. hospitals that are not doing as well. we did look at some of that industry benchmark data. in terms of the actual projections themselves, cpmc has walked us through their projections on a number of occasions. as he said, we did have our third party consultant there to look at our projections for us. on the concept of an audit, it is difficult to see how you can audit projections. what we tried to do is the latter. supervisor? supervisor campos: do you have something that you can share? >> these are confidential numbers. we negotiated that we needed to see them. that is part of what we insisted on in drafting the agreement. since these are proprietary numbers, for sharing those with us, the condition was that we would report on the conclusions but that we could not share those numbers with you. supervisor: we are here to provide oversight to the deal which the branch is recommending. how can we in good conscienc

governments use it to steal lucrative financial data. but computer viruses are also weapons that can delay iran from going nuclear or crash critical networks like power grids without dropping a single bomb. cyber operations are game changing and have a legitimate role in any national security toolbox, but one that has to be treated with extreme care. the cyber attack on iran spread beyond its intended target, highlighting the risks. question is how to create the international infrastructure rules, norms and procedures for this space, including clarifying when cyber operations can be defined as an attack that can be met with a military response. thanks for joining us for "this week in defense news." i'm vago muradian. you can watch this program online at defensenewstv.com or e-mail me at vago@defensenewstv.com. i'll be back next week at the same time. until then, have a

to make the same commitment as those ten leaders did toy tom provide this easy to understand financial data about their higher education investment. director cordray and all the folks on his team at cfpb have been amazing. i want to thank them for their commitment and leadership taking on this important work and now turn it over to rick to tell what you they're doing to help parents, students and consumers know before they owe. >>> thank you, arne. higher education is a critical part of the american dream as all of you know. i'm sure it's been true in your lives. for many students today this treem can only be realized through borrowing. figuring out how to paper for college can be daunting. it's often the first major financial decision that a student will make. one that will affect her for the rest of her life. unfortunately for many families, the process is often complex and confusing. it's hard for students to compare college costs, evaluate financial aid options and figure how debt they can afford. we have heard from thousands of student loan borrowers who tell us they simply didn't whau

how secure is this data that the o f are is going to be mining from financial markets? can you elaborate on your discussions and whether you have concerns about their ability to protect that data? >> i am going to focus my comments on protection as opposed to disclosures made by 0 f r. it is part of treasury and fall under cybersecurity standards, that is the macro picture. we have got to work out ways to send information that protect the information in transit. the methods being used today are somewhat at hawk because of the new nests -- newness of the function and the need to look at risk performance perspective including other nations getting into that data and defending that level of aggression. >> thank you, mr. graff. you put your finger on a central problem which is how do we share that information security and there are fairly sound methods i could talk about to protect in transit as a challenge but the technology issue there. the more intense concern might be protecting it once it arrived in federal networks to say to themselves very strong target. that is a con

lawsuits have been filed in san mateo county claiming facebook disclosed only to a select group financial data that might have influenced other investors whether to buy shares or not. facebook did not respond to our request for comment. they say pending lawsuits may prompt silence but it does little to repair credibility. >> public can forgive people but if you stone wall it and you don't do anything, it just adds to the crisis. then you really do have something to hide and you really did mess up. >> dean johnson adds that the funds for large investors won't begin to cover losses but litigation could take years. so this is case of money now rather than money much later. >> too close to call, that is the latest on proposition 29 the cigarette tax just under 51% voted no. 49% voted yes with only 63,000 votes separating the two. it would add a dollar tax on a pack of cigarettes. tobacco industry spent $50 million on adds and that cut support from a two-thirds majority down in march to a dead heat on election day. >> cancer research is important but prop 29 creates a huge new bureaucracy with no s

the irs already has a lot of power, they have an enormous amount of financial data, it's the complexitynaging all of the credits, looking at the low income credits, norm data exchanges with institutions they haven't regularly exchanged data with in the past. one of the hall marks is people's confidence in their security of the information they send to the irs. so when you start to exchange data and you need infrastructure around that. the irs will never win a popularity contest. but you use the phrase kicking down doors. i know that the criminal tools and leans and levies, those tools are procolluded from the irs in terms of chasing down the mandate. >> but you know they're never going to figure this out. this whole idea of an obama tax for health care is a bad idea. it's going to invite this kind of obnoxious stuff. i'm not making it personal, i'm lookth at it institutionally. it will be so unpopular for families that have small businesses. that's where they're going to go, and i think that's just dead wrong, that's not america. >> you're right, mistakes will happen with 100,000 employ

under the program 16 financial services firms were granted ad access to threatened attack data and analytical date on financial mitigation techniques. actionable information to search for similar threat activity in their own networks, axis to context all information to better understand risk i am playcations various threats. adjustments to cyber espionage using quantifiable information that had previously been unavailable better understanding to need to develop standards to support the automation of sharing and consumer threat data. gisf program grove innovation and new initiatives in the industry and helped reshape the sector's approach to assessings cyber espionage richings. it prompted pilot firms including tdttc to provide best practice. unfortunately the problem was term knitted 2011 for reasons that were unclear. since then more than five financial institutions experienced threat activity from actors first identified through gisf reporting. fsiac found threats willed continue in the future. information sharing which occurred represents the most critical line of defense in mitt bating cy

. >> two prong story to some extent although the weakness across the board with the financial data.tion within the past couple of minutes we've had flash out by reuters that the slovak parliament is ratifying the eurozone, the esm have to go through verification of various countries. >> the big one, the focus deals with germany. still to cobble this show, moody's closes the books on its reviews of several big banks cutting ratings on 15 companies. with the move the industry has made to short finances will these downgrades be a lagging indicator. got to talk bank analyst and former head of the bank bb and t next. don't go away. > with the spark cash card from capital one, sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve the most rewards! [ male announcer ] the spark business card from capital one.

data. while the administration is proposed new financial commitments to big data on the strategy for achieving computing. it's my understanding aa report was due out in february of this year outlining the research and development and again that was due in february so when can we expect to see it? >> let me start by agreeing with your point that the future of computing is going to involve big iron and big data. and you're asking about the big iron part, the hardware development and the energy requirements. i will have to look into where in the process that scale of computing report is and how soon you expect i'll get back to you on that. i know that we are paying a lot of attention to the needs in that domain and particularly the need that you mentioned to reduce the energy requirements of our fastest computers. there have been important developments in that domain which promise to substantially reduce the otherwise soaring requirements for power of computers and more. >> i really -- i worry about, you know, what's happening in the world and we're just on hold because of a report. i was pleased

if we actually look at other financial reserve data, and their flow data, it does suggest that a substantial amount of those losses have been regained over the last year and a half. so due to the things that the president has put forward, the recovery act, the financial rescue, various different housing efforts, we are slowly but surely climbing back and making progress. for an example, today, 401(k)s and i.r.a.s, the amount that is held nationwide is actually larger than what existed before the great recession started. but what's most important is what do we do policy-wise. some would suggest the reaction should be that we should actually repeal wall street reform, repeal the thing that's designed to make sure that this type of hit to the middle class never happens again. the president's out there saying let's do something as commonsense and i would hope bipartisan as offer everybody the chance to refinance their home, save $3,000 to $4,000 in costs, get more demand, help the housing market. this is one of the things on the president's to do list. it's very bipartisan, it's common sense, so

reliable, accurate and timely way and lead to confusion in the public and in the financial markets that rely on the department's data. to gaze the importance of that data to the public in general and markets in particular, look no further than last friday's unemployment report. years had sgoon developing our soft twhair it works with the system and redundant private communications lines to speed the delivery of crucially important information to millions of readers and subscribers across the globe. our software allows journalists to officially and accurately incorporate new material from department news releases and supply date tha puts the material in context. this would be lost if lockup participants must use a department provided standard configuration kpurpt computer and a department internet provider, and lost new procedures increase premature lyrics and as dan said, make an argument it would actually increase the difficulties with the dissemination of the data. because of these concerns, we join with three our news organization, bloomberg, the associated press and dow jones in requesting a meeting with the whi

make the same commitment as those 10 leaders today did today, to provide this easy to understand financial data about their higher education investment. director cordray and all the folks on his team have within just amazing partners in this effort and i want to thank them for their leadership and their commitment as we take on this critically important work and now i'd like to turn it over to talk about what cfpb is doing to help parent, students and consumers know before they go. >> thank you. higher education is a critical part of the american dream. as all of you know. i'm sure it's been true in your lives but for many students today this dream can only be realized through borrowing. figuring out how to pay for college can be daunting. it's often the first major financial decision that is aa student will make. one that will affect her for the rest of her life. unfortunately for many families the process is often complex and confusing. it's hard for students to compare college costs, evaluate financial aid options and figure out how much dead they can afford -- debt they can afford. we have

all 6,000 colleges across the country to make the same commitment to provide easy to understand financial data. director cordray has an amazing part in the effort. thank you for their leadership now by two turnover to talk about what they are helping consumers and parents and students. >> higher education is the critical part of the american team. but many students it can only be realized through borrowing. paying for college is daunting. it is the first decision a student will make. unfortunately the process is complex and confusing. is hard to compare costs, a guy with financial aid and figure out how much debt they can afford. we have heard from thousands of borrowers that says they did not understand what they signed up for. they signed up for private loans before exhausting federal loan options. others were credit-card and they got in on their head. we announced outstanding student loan debt crossed $1 trillion per good has eclipse creditcards as a leading source of debt outside of mortgages. the stakes have never been higher to understand the cost and risk of dead and stove recover from

financial markets and we take this seriously. members comply with a number of stringent laws and the protection of personal data. these laws are reinforced by regular corrective review and audited by highly specialized regulators that are supported by and asia -- an agency. in addition, the financial- services sector and analysis center. i serve on the board of directors. we recognized congress' shares concerns regarding the current supreme -- cyber security structure. we recognize the need for expanded information sharing with government agencies, including greater access. access to threat information must be provided in a manner that provides broader protection without ongoing investigations or the privacy of individual americans. we believe government agencies should let it leverage these and facilitate public-private information sharing that will help institutions better protect themselves. we believe our current regulators are best suited for regulating critical infrastructure. treasury and regulatory agencies should determine what is considered critical infrastructure. and one size fits all approach is not

about, you know, acceptance rates, graduation rates, percentage of students that get financial aid, any number of data points about colleges and universities. >> mr. gupderson, welcome home, i would like to remember you, that iowa -- we beat you into the united states for two years. your concerns are that on behalf of your member institutions, you are opposed to the executive order in itself? or you are opposed to the implementation of the executive order? >> great question. because i'm not sure we're opposed to either. i was disappointed that an executive order would preimp all the bipartisan consensus up here on the hill. that was my disappointment. seconds, what i have lifted up is the executive order if it is developed by all of you and all of us in working out the kinks and what needs to be defined. we need to do it with a -- academic achievement in ways that works for the veterans and works for higher education. if we do that together, this is a win-win for everybody. if we don't, it's a disaster for everybody, the vaeterans the schools and the general public. we only got 60 days left before tha

to maintain the public trust, the financial sectors and government agencies must stay committed to protecting personal data and intellectual property. i thank you for your testimony today. i yield back. >> if gentleman yields back and i echo the remaining comments to the panel, and seeing no other opening statements i turn to our panel for your opening statements. and as always, for those of you who have not been here before, you will be recognized for five minutes and your complete testimony will be made part of the record and you can summarize what you have in front of you. first to ms. candorly, and you are recognized. >> thank you. members of the sub committee. i'm the chief information security officer for regents bank and i am appearing for the financial services information center. i want to thank you for this opportunity to address the sub committee to important issue of corporate account take over. i have been head of information security at the bank since 2004, regents is the 12th largest bank by deposits and loans, it's a member of the fsic, an organization formed in 1999 by presidential order w

financial markets. overseas good economic data sent most stocks higher. the nikkei added 1.5% and hong kong's hang seng lost 0.5%. >>> investors on wall street will keep an eye on medical and insurance companies who may be affected by today's health care ruling. on tuesday, the dow gained 92 points. the nasdaq was up 21. >>> british bank barclays is is paying more than $453 million to settle charges it tried to manipulate interest rates. the commission says barclays tried to influence an interest rate that affects how much consumers and businesses have to pay for their loans. the justice department is continuing a criminal investigation of the bank. >>> california has passed a controversial state budget that will close a deficit of more than $15 billion. the plans call for cuts to welfare and social service programs and depends on voters approving more than $8 billion in temporary tax increases. if voters reject the plan, a series of automatic cuts go into effect, including cutting the public school year by three weeks. >>> the brother of convicted bernie

financial aid. any number of data points. >> welcome home. i would like to remind you that iowa used to be part of wisconsin territory, but we beat you into the united states by two years. i won't get into that. i wasn't clear from your testimony whether your concerns are that on behalf of your member institutions, you are opposed to the executive order in itself or you are opposed to the implementation of the executive order. >> great question because i'm not sure we are a posed to either. i was disappointed that an executive order would reach consensus. what i lifted up is that the executive order if it is developed with all of us and all of you in working out the kirchgs and the issues that need to be defined, this could be good. we have got to deal with those two big issues. a complaint process and a calculation of the information for the veteran on graduation and academic achievement in ways it works for the veteran and it is higher education. if we do that together, this is a win-win. if we don't, it's a disaster for everybody. the vete

combat exposure, post-traumatic stress, misuse of prescription medications, and personal financial problems. army data soldiers with multiple combat tours are at greater risk of committing suicide, although a substantial proportion of army suicides are committed by soldiers or never deployed. "democracy now!" recently spoke to iraq war veteran aaron hughes. >> 18 veterans are committing suicide every day in this country, 17% of the individuals in combat in afghanistan, my brothers and sisters, are on psychotropic medication. 20% deployed to afghanistan are already diagnosed with ptsd, military sexual trauma, or dramatic brain injury. it is clear these policies has had a profound affect on the military, my brothers and sisters. while simultaneously perpetuating a failed policy, unfortunately, we have to live with that on a daily basis. we don't want to be a part of that failed policy anymore. >> that was aaron hughes, field organizer for iraq veterans against the war helped plan the nato protests in chicago last month. we're joined in san francisco by aaron glantz, reporter for the base a decision. his

retrieve this data but that was met with a big fat rejection from the federal courts and a statement from the d.o.j. saying mr goodwin's proposed solution is to have the government bear the financial cost of restoring his data even if that means releasing his assets of the defendants which are subject to mandatory forfeiture twenty three years ago the supreme court made clear that a criminal defendant does not have a right to use someone else's money to finance his defense. so let me get this straight an overreaching illegal operation resulted in an innocent person's data being confiscated by the government and now that data is simply lost because without it he can't even prove that there wasn't any wrong doing so not only is that the o.j. taking the liberty of treating goodwood like a criminal but they're also just trying to wipe their hands clean of the whole thing and for an extra slap across the face they even suggested the goodwin consumate upload or carp out the for his untouchable videos now call me crazy but does anybody else see how the government is being absolutely ridiculous here they go and they seize the servers they lump all of these users in as pirates put people i

the consumer financial protection bureau launches and on-line data base about complaints about credit cards. consumers can see what banks -- what complaint filed by bank and buys a cut. you can see how the banks responded. check it out at our website wjla.com. microsoft is entering the tablet world. they unveiled their surface tablet yesterday. the hope is to compete with apple's ipad. the device features a 10.5 inch screen. there is also an integrated keyboard with a trackpad. it is expected to debut in the fall when microsoft rolls out its new operating system, windows 8. the costs expected to be similar to other tablets. still ahead, a virginia man turns into if you are on vacation not once, but twice. we will tell you the amazing story of how he saved several lives. later -- >> conjoined twins. they may share the same feelings, even thought. >> the former rutgers interest student convicted of bias intimidation was released after serving 20 days. he was found guilty for using a web cam to spy on his roommate kissing another man. he remains free while the case is appealed. his roomm

financials. to quote the data person, pretty strong correlation. 68%. not bad. giovanni? >> giovanni is a good-looking man, thin in good shape. i still think you thought this tremendous headline risk and catastrophic risk in the financials and to me, one is interesting and we talked about it the other day and took black stone out. if you want to be in it, you have a nice dividend. it sort of leads towards what black stone is good at. maybe today you see another move to the upside. >> what did you think of the fancy chart showing the correlation between the 10-year yield and the financials. >> i love correlation. >> do you? >> we talked about it today. >> really? >> he did a very nice job. i was -- there was nice rallies. look at what happened on the three-months before the rally. i don't read a lot into the rally. this discount to tangible book value is attractive, but won't be stepping in to buy stock in the near future. bank of america trading at 60 some ought percent. it was nice, but not a meaningful move. >> let's talk about something that did not participate and face

about, you know, acceptance rates, graduation rates, percentage of students that get financial aid, any number of data points about colleges and universities. >> mr. gunderson, welcome home. >> thank you very much. >> i'd like to remind you that iowa used to be part of wisconsin territory, but we beat you into the united states by two years. and i won't get into that. but i wasn't clear from your testimony whether your concerns are that on behalf of your member institutions, you are opposed to the executive order in itself or you are opposed to the implementation of the executive order. >> great question because i'm not sure we're opposed to either. i mean i was disappointed that an executive order would preempt all the bipartisan efforts to reach consensus here on the hill. that was my disappointment. second, what i have lifted up is that the executive order, if it is developed with all of us and all of you and working out the kinks and the issues that need to be defined, this could be good, but we've got to deal with the two big issues, a complaint process and a calculation of the information for th

consumer names are not publicly posted, the financial industry fought hard against the data base saying it only tells one side of the story but complaints are verified by the consumer agency before they are posted on that list, and the list is updated daily. for a link head to cbssf.com. >> back to the flame retardant chemicals, it would be interesting to hear what fire departments have to say because >> they fought hard for this because these are toxic chemicals, when they going to fight fires, and his coaches are on fire, they inhaled toxic chemicals and some studies link increased cancer rates and firefighters to these chemicals, specifically in california because we have the highest rate. >> less than 24 hours away, but will it feel like summer? >> at least for one day and then we go to a springtime weather pattern. significantly warmer than yesterday topping off at 66 in san fransisco with an average high this time of the year of 69 degrees. low 60s around the seashore and low '80s in san rafael, nearly 90 at the delta and back through the dry valley. some haze at the golden gate b

data. and drugs in financial desperation sends increasing numbers into addiction government is slowly pulling funds from rehab. the trouble is brewing between a russian opposition newspaper and the country's top criminal investigator he reportedly threatened one of the paper's leading reporters or an article alleging that he took part in a criminal conspiracy with a high profile gang let's get more on this now from our peter. peter the learned is that a newspaper is known for its controversial anti government publications or was it trying to hone in on the. well known view. wrote an editorial in which he says that one of his journalists was abducted on the orders of alexander to strike in the chairman of the investigative committee here in russia taken to woods in moscow where his life was threatened now these events are supposed to have taken place a few weeks ago it all stems but to an opinion piece that was written in which he made a series of very serious allegations against him as well as other senior figures in russia for what she later apologized has since left the country. says it's t

data. >> are you equating financial inequality with unfairness, with an unfair economy? >> if you look at the people who are at the top, they're not the people who really transformed our economy. they're not the inventors of the laser, the computer, the discover the dna. they're people who manipulated the system. they're people monopolists who actually use their monopoly power to contract output to increase their profit. >> according to the census bureau the percent of households making over $200,000 per year is close to the highest it's been since the census bureau began tracking this since the late 1960s so there are more americans at that top ten 10 then there has ever been before. isn't that an indication of the opportunities that have been out there in this economy? >> one way of looking at it is the fraction of the income that goes to the top 1% today is twice what it was in 1980, about 20%. >> all right. >> going to the top 1%. >> the census bureau finds 2 1 percent of the nation's income goes to the top five percent of households. these are folks making over $181

we are calling on all colleges to make the same commitment to provide this easy to understand financial data. director cordray and the folks on his team have been amazing partners. i want to thank them. i would like to turn it over to talk about what they are doing to help parents, students, and consumers. >> thank you. higher education is a critical part of the american dream. it has been true in your lives. for many students, this can only be realized through borrowing. figure not have to pay for college can be daunting. it will affect a student for the rest of her life. for many families, the process is often complex and confusing. it is hard to evaluate financial aid options and figure out how much that they can afford. we have heard from thousands of borrowers who told us they did not understand what they were signing up for. many of them chose private loans before exhausting their federal loan options. some resorted to credit cards and other high-priced loan. all too often, borrowers got in over their heads. recently, we announced that outstanding student loan that has passed the one t

data drop. >> let's talk financials. we have rerned to capital hill to address lawmakers about the multibillion dollar trading loss. take a lp. >> if a u.s. bank can't do the business at all, at all, because the rules are written so broadly, then we will lose a lot of business, they will not move to london but they will one day be in singapore, china and other parts of the world. >> shares of major u.s. banks seeing a nice pop on the market rally. but jp morgan remains down nearly 13% since announcing that loss back on may 10, 2012. >> it's a step when do you turn and get long jp morgan? when they restore the share buy back program in the wake of that, while financials have deteriorated, you are seeing the u.s. centric financials continue to perform. you have u.s.b, you have wells fargo. they have recovered all of the losses that they have seen from that thursday evening announcement. >> why did you buy j.p. morgan? >> the most bullish thing that happened today is the fhfa came out and talked about basically credit easin

but i do think that given the current path of data, given the current path of financial news we're seeing in particularly stemming out of europe that more easing is coming. whether we get it in june and of what kind is a different issue. >> and remains to be seen, tim duy of university of oregon. >> tom: in the years to come many u.s. banks may have to hold more money back from lending and other business in order to protect themselves against tough economic times. these new rules are a result of efforts by international regulators, including the federal reserve, to force banks to have a bigger financial cushion. instead of having a minimum cushion of 2% of assets, today's proposal would lift that to 4.5% by 2019, and for the biggest banks, they have to add 2.5% on top of that. phil angelides is the former chairman of the-- with us. great to see you. will this make banking less threatening for the u.s. economy? >> well, here's my view which is, this is a step forward, i don't think it's enough. and i don't think it's fast enough. let's take 9 context we're in, a very fragile global economy