frank's son comes in. makes his living writing and directing feature films such as 2009's critically acclaimed "city island." but he also has a passion for preserving documentaries. particularly his father's. >> the loss of documentary film if it's not preserved is the most, you know, is the saddest loss because it's history. how do you preserve these? in the case of my dad's films, i thought we had the only copies of them. i was determined they had to be preserved. first i donated them to the museum of broadcasting. >> but ray didn't feel that was enough. he wanted his father's work to be seen and appreciated by new audiences. so he posted the mississippi film on his blog where anyone could watch it. >> and almost instantly, my producing partner david zelerford said this is an extraordinary movie and who is this guy, booker wright? >> sitting in his office, he said he immediately saw a potential for a new film. one that would finish booker's story. >> he mentions his children in the film, and i said to ra

>> (laughs) frank, thank you so much for joining me. frank oz.of horrors" we'll be right back. (cheers and app lçms

>> (laughs) frank, thank you so much for joining me. frank oz.p of horrors" we'll be right back. (cheers and a (cheers and applause) >> stephen: well, that's it for the "report," everybody. good night! (cheers and applause) captioning sponsored by comedy central captioning sponsored by comedy central (cheers and applause) >> jon: welcome to "the daily show"! my name is jon stewart! we've got one for

susan, good morning. >> reporter: hi, good morning, frank. petraeus is here in the first of two hearings. he snuck into the first one without being seen by the press. lawmakers are already questioning him. they may be tempted it talk about the sex scandal but the focus is benghazi. they believe that petraeus has information about what happened there that no one else does. >>> reporter: former cia director david petraeus is headed to capitol hill this morning to talk about the attack on the u.s. consulate in benghazi. congressional leaders say he has a unique insight into the attack. >> director petraeus went to tripoli and interviewed many of the people as i understand it that were involved. >> reporter: house and senate intelligence committee members spent thursday interviewing top military and intelligence officials. they were also shown a video taken from surveillance cameras from the consulate and from drones flying overhead. >> it does begin from when the incident --before the incident started and goes through the incident and the exodus

i'm frank mallicoat. >> your realtime captioner: linda marie macdonald >>> good afternoon, everyone. i'm michelle griego. >> hi, everybody. i'm frank mallicoat. and we are working on a developing story right now out of oakland international airport. federal authorities are investigating the suspicious device there found as a man tried to go through security at the airport last night. according to the alameda county sheriff's office, the man was wearing a watch that looks suspicious and caught the eyes of tsa agents there. he was detained and is now being held for questioning. >>> so was money the motive? vallejo police believe a local teen was after ransom when he kidnapped and assaulted a 65- year-old woman last night. the 14-year-old is now behind bars and the woman is in the hospital. cbs 5 reporter anne makovec is in vallejo with more. >> reporter: there are a lot of disturbing factors about this case. it happened in broad daylight. the victim and the assailant didn't know each other and it was in a p

love that, frank. first person you said build a good team around, and you said build an accountant. oh, go ahead. >> so i would tell the person something different. >> okay. >> because pro formas and accountants and all that seem very foreign to people that are passionate about what they do. i would first tell them to make sure that your idea is awesome. and the way i would do it and the way i did it when i started, because i didn't know what a pro forma was, was that i would vet my idea, and i would analyze it. i would pick it apart. i would take this notion of what this concept is, beat it up, come up with a list of why it wouldn't work, and if in the end the list was greater for the pros, then i would attack it. i believe -- and this goes against what you would think i would say to you -- that if you build it and it's fantastic, they're going to come. and you'll figure out the accounting stuff later. all right? just make sure you budget it right in your construction costs. >> let me ask you guys, we

that is a big part of i am bring mentation of dodd-frank -- implementation of dodd-frank. make sure it is clear and we know the rules of the road and it is not so overbaked it detures economic growth. david: let's talk about some tax rules. taxes are due to go up january 1st. we saw some type of negotiation in a public forum by speaker boehner yesterday and harry reid weighing in. phat do you think will happen there? are we going to have an increase in the top rate of taxes in the u.s.? >> well this fiscal cliff looms large. it is no longer a political debate or philosophical debate it is mathematical necessity. the walls of the fiscal cliff, the walls are moving in such they have to solve it. we prefer it would be done in timely and orderly manner so it doesn't disrupt the economy. the nonpartisan cbo, congressional budget office, if they don't address this the gdp could drop 3%, go into negative territory, in other words a recession. unemployment could go back up to 9% and another series of cascading developments. they must address this as soon as possible. i have writte

columnist frank rich. rich dissects what he calls the fantasyland thinking inside the republican party and what it means for the gop moving forward. his thoughts tonight on a number of other issues including the political implications of the david petraeus story and what a second of, term might look like. we're glad you've joined us. a conversation with frank rich coming up right now. >> there is a saying that dr. king had that said there is always the right time to do the right thing. i try to live my life every day by doing the right thing. we know that we are only halfway to completely eliminating 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. and tavis: a quick look at what is coming up on this program. actress keira knightley is on. and her film "anna karenina" based on the tolstoy classic. thursday and friday night, a two-part conversa

i'm frank mallicoat. >> i'm michelle griego. major disruptions today at the bay area's biggest port. striking janitors and maintenance workers at the port of oakland have been blocking access for trucks and longshoremen all morning. cbs 5 reporter elissa harrington is in oakland with more. >> reporter: hi there. that's right. well, it's very quiet here at the port. there are still a couple of picketers behind me but all the longshoremen have been told to go home. all the truckers have also left. even though a port spokesman will not tell me that the port has officially been shut down, the union workers i talked to say the strike was a success. two picket lines in oakland one at the port one at oakland international airport, more than 200 workers with the local service employees international union are on a 24-hour strike upset that port executives want to cut wages and benefits and can't come to an agreement with the union. >> we have been without a contract over 16 months, that's not right. >> reporter: they shut down the port

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commissioner bart chilton is on the show to talk about what should be done and why it's taken so long to be frank and wall street journal reports a federal jury cleared two former money market mutual fund managers of fraud charges this report only gets to the issue we've seen so often of how difficult it is to prove intent in these financial fraud or manipulation cases so does the law need to change when it comes to intent or the burden of proof of it all our children think so so we'll talk to him and speaking of intent also find out about the c.f. season ten with regard to m.f. global and the ongoing silver market manipulation probe plus congress or turn to work today they have seven weeks to avert the fiscal cliff or to go off of it so to speak we're sick of the term we ask you to rename it the response was overwhelming we're below our top ten new names in loose change let's get to today's capital account. from silver market manipulation to high frequency trading to m.f. global or p.f.g. best we hear so much what is going on with this probe we've heard about where our regulators where our charg

good afternoon everyone, i'm frank mallicoat. sudden flow of water and mud was a rude awakening for dozens of residents and it all started thanks to the 80-yard pipe burst. cbs 5 reporter aiolis is a hairington joins us how -- aiolis is a hairington joins us lou. >> reporter: frank, basically the pipe was very, very old. it failed and pumped water into the neighborhood. take a look behind me at some of the mess it's left behind. we have bulldozers the trying the clean up -- trying to clean up some of the mud and a lot of neighbors out taking a look at the scene. they told me they never thought they would see. a daly city neighborhood covered in mud. >> you cannot take it out your car because the mud is all the way up to the tire. >> reporter: a sheer break of the 18-inch water pipe caused flooding and forced evacuations spilling 45,000 gallons of water near the street. this happened near hillside park overlooking the saint avenue. you can see where the water came rushing down the hill causing a mud slide leaving this picnic area

i'm frank mallicoat. >> i'm michelle griego. time is 6:00. east coast residents still recovering from hurricane sandy were hit again overnight. a nor'easter pounded the area with snow, rain and winds gusting up to 60 miles per hour. the storm is creating a deadly situation for those without power after sandy. it's put recovery efforts on hold. right now cbs 5 is manning with the red cross to partnering with other groups to help out. roberta gonzales is in our help center. >> reporter: i'm proud to be part of cbs 5's hurricane relief fund telethon. i'm going to be here from now until 7 p.m. each and every minute trying to raise a dollar from each and every one of you out there. so we're not leaving here until we have your support to help our friends across the country. in fact, we would like to give you a recap on what's happened over the past 7 days. it's been the american red cross, they have been there for the entire country in this will the battle for hurricane sandy. the red cross has served more than a million meals and snacks providing

to be frank, i really got tired of seeing rats and dropouts speaking for the aryan brotherhood.hey don't speak for us. they're not real brothers or they wouldn't have dropped out. they're marked men. they're dead men walking. as well they should be. >> weaver's role in the aryan brotherhood is one of the reasons he has been housed in administrative segregation. a lockdown unit. >> that was part of the reason why -- that's part of the reason why we sent him over there. >> that's part of the reason why we sent him over there. >> just his activity and his influence over the population being a leader with the stg group is enough reason to keep him over there. just at that. because he can call shots and make things happen and stand back in the shadows. >> think i don't understand is they put me in here thinking i can make a hit. how does that save that person? he's still going to get hit. if i had the authority to do that, which i don't. but my past haunts me. and it's bloody. >> coming up -- >> as far as the extortion, i think he's lying. >> nick compton's story comes under fire. an

i definitely in change change the intent section now we did a little bit to make it better in dodd frank in two thousand and ten but i'm convinced that we need to go even further and the idea is i mean the reason that we don't in the future is industry for example have things like bans on insider trading like they do in the spirit world is because we want people to trade on information they have we want them to bring all of the the very good facts and figures and senses that they have to the market that helps develop actual price discovery but i think we've aired too far letting people do anything and that this intense standard is way too high now so i hope that we relax it somewhat and then all enable us to ensure that we don't have to peel ation the future and the markets are devoid of manipulation or attempted manipulation so just to get a little bit more color i do i do want to talk about concentration are you familiar with the degree of concentration in the positions held by major investment bank traders in the silver amable of markets and do you think that any particular position i

you dismantle dodd frank?t you're advocating? even jamie dimon admits there's need for regulation after the financial crisis. candidly, he calls it dodd frankenstein. that's more for shoe more effect than anything else. >> let me ask you this question. what policies do the federal reserve and what authority do the federal reserve not have to rein in the risk of citi corp.? >> what if they had no? >> yeah, what authority did they not have to rein in the risk of citicorp? >> well, they're not one only regulators. that's the problem. >> what's the answer? >> the problem that regulators aren't regulating. >> right. >> we don't need more regulations. every regulation that existed would have reined in, if the regulators had done their job, would have regulated the risks. they failed to do their job. >> so what you're saying is under obama, we will get more regulation for the financial services industry because of dodd frank. as a result of that, you'll see smaller banks go away, go out of business, et cetera. what a

frank bisignano is the co-chief operating officer at the bank. frank, i want to start in lower manhattan because late this afternoon you turned back on a.t.m.s. how many are operational in that affected area still without power? >> well, we put a.t.m.s into operation at our flagship branch at it it chase manhattan plaza. that is in zone a, and zone a still does not have power. we brought generator power to our branch there, and we have that branch open and so there is cash available for the customer in that year. we are out there trying it serve our customer. >> tom: what about the entire affected area. as of today, 70% of chase's a.t.m.s were operational. >> we have more than 75% our a&ms operational. we have 80% of our branches open. we brought generator power in to our branches. we bussed employees to our branches. we're out there to serve our customers. we think having cash and the branches open is critical for our customers. >> tom: speaking of, what about cash supply? have you had ample supply in order to staff up and meet the anticipated d

we'll ask barney frank about that coming up. the dow down about 50 points right now. >> thanks, everybody for joining us. we have a lot more to come on this special edition of the "closing bell." >>> coming up, a frank discussion. all the talk from the president has been about raising taxes for the wealthiest americans. but why haven't we heard anything about cuts to wasteful spending? we ask congressman barney frank straight ahead. >>> plus, playing the cliff. noted investor talks exclusively to maria how he is prepare for what he believes it the inevitabineve tablt that the country will fall off the cliff. >> and the men with the plan. how simp sop and erskine bowles join maria to talk about how to fix the nation's fiscal mess. is this the time for their plan to finally be adopted? that's all ahead on this special edition of the "closing bell." i always wait until the last minute. 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 s

the door and one which we've seen recently is the final word that foreign exchange swaps from dodd frank derivatives regulation are exempt for context according to bloomberg big banks like u.b.s. and deutsche bank lobbied for this exemption and here is a sense of why foreign exchange contracts were the second largest source of derivatives trading revenue for u.s. bank holding companies in the second quarter the company's reported three point one billion dollars in revenue on trading of foreign exchange derivatives foreign exchange swaps and forwards are part of a four trillion dollar global daily market for foreign exchange but is that really all because actually it could be more than that our guest put together this chart showing outstanding over the counter derivatives take a look ok so making up the largest swath of that is interest rate swaps three hundred seventy nine point four trillion dollars there but does this exemption that timothy geithner gave to forex swaps essentially exempt interest rate swaps to now forex wops and forwards are a thirty one point four trillion dollars but

in chicago hey frank what's on your mind tonight thanks for calling. oh goody goody two shoes frank from chicago my work for you i work for one of my big thank you. my question was mitt romney trying to show his kids sportsmanship. feel action then when this president and i know how you want to go action your thank you frank i appreciate the call it really is a sad commentary on mitt romney the whole republican culture of victimhood which they've been living up i mean this is what they these guys have been living on for the last thirty years is that they're victims ronald reagan kicked it off with you know we're all having to pay taxes so that the welfare queen can drive a cadillac down and get her welfare jacks a new york times said oh really where is this welfare queen oh i don't know and they went off looking for for six months in new york times while looking for didn't exist that culture of victimization is still alive and well in the republican party and yeah i think that this is actually a very bad example that romney gave not just to his kids bu

what they got was a frank discussion of oprah winfrey's life and career. first notion of entering broadcasting came when she was a young girl growing up in the rural south. >> it was like an apartheid state for black people. we were called colored people then. i had no idea that television was a possibility for a black woman or a colored woman at the time. when i first saw the supremes on "the ed sullivan show" in 1968, it was like a miracle. >> letterman didn't pull any punches, asking winfrey about the abuse she endured as a child, her pregnancy at age 1, k and a fateful moment when winfrey's mother tried to send her to a detention home. >> what would have happened if they had room for you in the detention home? you don't know. >> i don't know. i probably would not be sitting here today. >> thanks to that second chance, winfrey embarked on her broadcasting career as a teenager. >> this human experience of yours is stunning, because it's going in one direction at the speed of light, and then suddenly, it turns around. >> well, dave, i have to tell you, i

dodd/frank is the reform of president obama's first term.ail bailouts. some dodd/frank regulatory rules have yet to be written but president obama vows not to go back on its efforts. >> after all we've been through, i don't believe that rolling back regulations on wall street will help the small business woman expand or the laid off construction worker keep his home. >> critics say dodd-frank didn't go far enough and may have made big banks more dangerous. one of those critics is neil barofsky, assigned to monitor t.a.r.p., the $700 billion bailout. he's since written "bailout," an inside account of how washington abandoned mainstreet while defending wall street. look back at the polls in 2008 from finance, real estate, and insurance industries. in 2008 he can got more than mccain did. in 2012, that collapsed for president obama. he's not getting support from wall street on regulating anymore. >> no. one is they looked at what romney was offering which is a complete teardown of dodd/frank. the other thing that i think is very important to th

i'm frank mallicoat. >> i'm michelle griego. a lightning strike near a transformer leaves dozens in the dark. cbs 5 reporter cate caugiran is with the crews that are busy now trying to get those lights back on. >> reporter: good morning. they have been working nonstop. pg&e says there is still no estimated time of when the power will be restored. but you can look right now. they are in one of the cherry pickers trying to bring power back to the area. one crew member told me they are hoping to get the lights back on by 8 or 9:00 this morning. about 100 customers had their lights out because of the hoffman, fountain street and grandview avenue outages. that caused transformers to be shut down. the challenge is because so many transformers were affected. pg&e had to count just how many customers were tied to each transformer. for customers the challenge will be getting that power on in time for the workday. how will this affect your workday? >> it's bad. my husband works out of our home. so this is going to affect him most of all.

robert frank, thank you very much.e'll go to belize this weekend, you and i. >>> i'm getting a lot of heat for saying we were doing well. guess what? we're up now ten points. yes, we fell 50 points at the beginning of the show, we were down 60 points but still i don't spend every moment staring at a screen with numbers going up and down. got to prep for fine interviews like the one robert delivered for us as well. there well. there are are your markets up across the board. coming up, what is behind this door? it is something that has everybody in america clamorring to get their hands on. that's a cnbc hallway. this will be a cnbc exclusive coming up. if 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

i'm frank mallicoat. it is 5:01 now. we are following some developing news down in palo alto. that's where a masked man broke in an apartment and woke up a woman inside. >> cbs 5 reporter anne makovec is on the scene where k-9 dogs are helping with the search. >> reporter: they so far have not found this guy. in happened here at this -- it happened here at this apartment complex at high and a thorn in palo alto at 2:20 a.m. -- hawthorne in palo alto at 2:20 a.m. a woman found a man in her apartment, she screamed and he ran way. she lived on the ground floor of the building in downtown palo alto. police aren't saying how the man got in. police blocked off the neighborhood and sent dogs to search for him. no luck. so they have since opened the streets back up, called the dogs and are interviewing the woman right now. >> at this point in time, she is safe and unharmed. she is with detectives and they are conducting interviews and the investigation is ongoing. >> reporter: we don't know how get to in, whether

frank, michelle? >> all right.hank you. >>> an east bay man is charged with attempted murder for trying to hang his girlfriend from a tree in his backyard. this happened on sunday night. police tell us the woman's hands were tied behind her back and there was a noose around her neck. but police say when her boyfriend went inside to get a cigarette she got her cell phone out of her pocket and called 911. >> he was intent on killing her. >> yes. he told her he was going to hang her. >> 31-year-old daniel howard used her as a shield when police confronted him. they say he pushed her down and took off running. the woman suffered minor injuries. suspect's family members says he may have been on drugs. >>> a teen could be arraigned in adult court sometime today. police say he and 26-year-old jonathan wilbanks robbed four businesses. they shot at police and killed a man during a carjacking attempt on november 16. >>> and a simple mistake led to a hazmat emergency in a gym in san jose's evergreen area. about 150 people all

if you believe the orderly resolution in dodd-frank prevents too big to fail. you need to explain why it didn't work for fedy and fannie. the woman here in front who has been patiently waiting. >> hi, ann stone. i was one of very few women in southeast united states that helped start and organize bank. went through the problems. we started at the height of the snl crisis. we were smart enough we had problems with the churl nirmt the bank that was causing concern to make profitable enough for bbt eventually bought it. it ended up being a good investment. i wanted to ask a lot of speculation was done when financial meltdown happened. that a couple of things were -- [inaudible] to the drivers of the crisis. one was the effect of the gse on the primary mortgage market and the personality age of risk that went up from -- and the change of the rule fsa rule 157. i wondered hue change in that rule could be done and nobody saw that it was going deval -- deval -- how somebody could not see that. second part as female, of course, a lot of there would have been less of a

i'm frank mallicoat. nearly 5:30 now.s are now being allowed back in a local hotel after a hazardous leak happened this morning. cbs 5 reporter anne makovec joins us now from burlingame to explain what caused the unexpected wake-up calls. good morning, anne. >> reporter: good morning. it was a carbon monoxide scare isolated to a boiler. the building did just get the "all clear" as you mentioned. people finally getting back in their rooms. i'm sure it's going to be very nice to get back in their beds. they are prioritizing getting people back in as far as people who have flights this morning. the embassy suites on anza boulevard is by sfo. hundreds of people were evacuated just before 1:00 a.m. the fire department got a call around 12:30 this morning and determined there was high levels of carbon monoxide from a boiler malfunctioning on the side of the building. they immediately evacuated hundreds of guests first sounding an alarm and then on a bull horn to tell people to get up and go outside. >> had a good alarm system.

i'm frank mallicoat. time now is nearly 6:32.egin this hour with some breaking news on the bay bridge. a multicar accident is creating a massive backup on the westbound lanes. let's get right to elizabeth in the traffic center. >> thank you. if you work in san francisco you may want to consider an alternate to the bay bridge this morning. the five-car crash is cleared. this is a view liv from chopper 5. the damage is done stacked up into the macarthur maze. they had to turn on the metering lights about a half hour earlier than typical. so even when we have a minor stall on the upper deck, it causes big backups. you can imagine what a five-car crash would do. the roads are slick. drives are taking it extra easy in addition to that. so you can see all the approaches to the bay bridge are backed up including down the eastshore freeway where we actually had an earlier traffic alert in emeryville approaching powell street. so again, let's talk about alternates. bart might be your best option. the san mateo bridge looks okay right now

joining me is congressman barney frank, democrat from massachusetts, ranking and former chairman of the financial services committee. mr. chairman, thank you for joining me. >> thank you, al. >> given the election loss, do you think the republicans will be more open to compromising with the president and the democrats on taxes? let's start there. >> some will. this is going to be a struggle. there are clearly republicans who understand that it was their original right wing policies, the tea party domination, that turned off an awful lot of voters, both on substance and in the way they acted. and the question is whether they'll have the courage of their convictions. speaker boehner appears to be torn by this. mitch mcconnell, on the other hand, appears to be concerned about winning a primary in kentucky. i can only recall his tactics that tried to mug the president, apparently, will continue. so this is a very interesting question. there are clearly people within the republican party who don't want them to be more flexible, who want to go down in flames. and that's the key issue. there a

as part of the dodd-frank bill, the s.e.c.ties futures trading commission imposed new regulations on companies that deal extensively in derivative products. as a result of that action, credit default swaps now clear through exchanges or clearing houses, but they're still exempt from insurance regulatory oversight. [ticking] coming up, the harsh reality of state finances. the state's a deadbeat. >> yeah, i mean, the state of illinois is known as a deadbeat state. you know, this is a reputation that has taken us years to earn, and we've reached, you know, the heights of, i think, becoming the worst in the country. >> it's the day of reckoning when 60 minutes on cnbc returns. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10

frank and michelle? >> thank you, anne. >>> well, voters rejected another ballot measure that would raise taxes to benefit california's schools. the biggest backer of prop 38 was civil rights attorney molly munger. she spent at least $20 million on the yes on 38 campaign. >>> 6:10 now. an attempt to repeal california's death penalty law was narrowly rejected by the voters yesterday with just 6% of ballots unaccounted for right now. 53% of the state voters oppose prop 34. the ballot measure would have wiped out the largest death row population in the country. but while prop 34 appears destined for defeat, some activists are finding a silver lining in all of this. and cbs 5 reporter cate caugiran is outside san quentin state prison in marin county with the encouraging signs some death penalty opponents are seeing today. good morning. >> reporter: good morning. that's because now the death penalty is back on the talking table because this is the first time in 30 years we have seen a statewide vote on whethe

i'm michelle griego. >> i'm frank mallicoat. it is 5 now, and breaking overnight, a stunning turn of events

for example, the size of france. >> frank, let me ask you this. >> it's some of it, i believe, they're getting from places that are -- happy to supply them. i think the saudis, the turks are providing some of the arms. some of the arms i think almost certainly have emanated from the caches of moammar gadhafi, and some reason to believe those were made available through a pipeline from our own efforts to gather up those weapons in libarch sent on to turkey, by shipment, as fox news reported, and sent across the border to syria. unfortunately the people getting the weapons in syria are the muslim brotherhood. >> i'm coming up against a hard break. frank, muslim brotherhood, are we in a better position with them? charge? who are they? very quickly, frank. >> the muslim brotherhood is an organization that is it -- islamist to its core. seeks our destruction. they're not our friends. we should not be trying to do business with them, period. >> frank gaffney, i want to have you back on this. that's it for us tonight, folks, nobody said an inkjet had to