let me start with frank. frank, you have done a long way back in history, collected experiences from around the globe on many continents. what does an effective modern stay, a liberal democracy need to endure and can you list the ingredients and what is causing the decay in those institutions that we're seeing? >> well, thank you michael. so this is a really important issue because the difference between 25 years ago when i wrote that original article and now is that back then, i think most people around the world would have looked to the united states as the model of an effective democracy. i think very few people would say that. i mean new democracies are not saying, yes, we want to replicate everything that is going on in washington with the shutdown and refusing to pay back your previous debts and that sort of thing. so it's an important thing for global politics. so in my view, a modern political order has to three things. it has to have a state which is about power and the ability to use power to enforc

he calls a retired tequila -- texas ranger, named frank hai haimer. >> i said put clyde and bono the spot, shoot everyone in sight. jamie: haimeer develops an imfor informant who reveals their location, the posse sets up an ambush. clyde appears over a hill, bonnie at his side. the law men open up with a deafening fuselage. bonnie and clyde are dead, before they can return a single shot. in the death car, posse members uncover an arsenal. >> inevitable end, bonnie parker and clyde barrow who died as they liveed -- by the gun. jamie: the officers take the weapons and other personal items. >> frank haimer wound up with all of the weaponry that was recovered within that car. >> no surprise to earl that an avid collector like his father would covet these macabre trophies. >> "bonnie and clyde," a 3-year-old kid knows who that is. jamie: they had the shotgun from the borrow gang to his house full of texana artifacts. >> gun 45, that was in clyde a waistband, a and a 38 tape to bonnie's leg, frank haimer wrote a note that bonnie was squating on this gun. jamie: it takes patience, luck, and

frank recently said the year 2013 feels different. this is an electoral authoritarian regime that seeks to take back territory that it lost when the soviet union dissolved. china has an economy that rivals hours but remains authoritarian. to democracy in many countries has proven anything but smooth or straight in the united states we experienced a prolonged recession, gridlock no end insight. this involves confidence in public institutions. it is an inconvenient union that we have written about, succession movements and economic stagnation since the need for fresh approaches to governance and leadership and that is the theme and i think we have almost a perfect panel to address this. francis fukuyama, rand trustee, alumnus of the research staff, the author of many rand report and best-selling books including the two volume book on political d k we are going to get into today, the second volume of this that has just been published. sheila bair is also a brand trusty who lived systemic risk council and was chair of the federal deposit

frank keating on banking, on his oklahoma.y with us. ♪ >> good morning, "bloomberg surveillance." i am tom keene with olivia sterns and earning grilli. >> west virginia, hundreds of families were evacuated after a train caring more than 100 tankers of crude oil derailed in a snowstorm. look at that fire cloud. intense flames burned for nearly nine hours, at least one plunged into a river. the accident occurred near the town of mount carbon. no fidelity's reported. a major panic at lax, about 20 passengers fled through emergency doors and onto the tarmac after incorrect report of an armed man on the loose. the incident your boarding area partly stem from a police pursuit of an unarmed driver that ended outside the terminal. it took about 15 minutes for authorities to get the scene under control. $10 million judgment goes against lance armstrong, an arbitration panel ordered armstrong and tell sports corporation to pay up with a fraud dispute surrounding armstrong's tour de france bonuses. the company accused armstrong of unpara

frank saw the damage to his summer house for the first time saturday morning.m destroyed. >> i was shocked. i wasn't imagining it was going to be like it was. >> reporter: it was frank's wife's dad who built the house in 1939. floods have been a concern but not falling redwoods especially one that crush a bed and refrigerator and side wall. >> it's wiped out the one room. but i think we have good people coming. >> reporter: frank's house was hit hard but so was his neighbor's home. the same tree hit bill's house first on the way down. >> surprise (laughs). i didn't know the extent of the damage until i came down here and looked at it and saw a tree had fallen through the house and our neighbor's house. >> reporter: both frank and bill live in the homes seasonally. they're thankful no one was here and no one was hurt. >> it's an act of god. it's wood, metal, glass, it can be repaired. glad nobody was injured. >> reporter: a damage estimate has not been given here. easily in the thousands of dollars. frank and bill both have insurance and hope the companies will

>> certainly not seeking in any way to alter dodd/frank at this time. it is -- >> let me ask the question -- >> framework that is -- >> do you think it's appropriate that mr. alvarez took public positions that do not evidently reflect the public position of the fed's board, especially before an audience that has a direct financial interest in how the fed enforces its rules? >> well, i think the fed's position and my position is that we are able to work very constructively within the framework of dodd/frank to tailor rules that are appropriate for the institutions we supervise and we're not seeking to change the law. >> i appreciate that. we know that the fed staff plays a critical role in shaping dodd/frank rules and enforcing them. in the case of the swaps pushout, congress passed the law in 2010, but the fed and the occ delayed the effective date of the rule until 2016. giving citigroup and other big banks time to get the rule repealed before it ever went into effect. did mr. alvarez provide input into the fed's decision to delay the effective date of

-- the dodd-frank rules.his criticisms reflect your criticisms or the criticisms of the federal board? >> i personally and the board consider dodd-frank to be a very important piece of legislation that has provided a roadmap for us to put in place regulation. >> i appreciate that madam chairman but i need a yes or no here. it is criticisms reflect your criticisms? >> i am certainly not seeking in any way to alter dodd-frank at this time. it is framework -- >> let me ask it differently. do you think it is appropriate that mr. alvarez took a public up position that is not reflect the public position of the fed board especially before a board that has a direct interest in how the fed enforces its rules? >> i think the fed's position and my position is that we are able to work very constructively within the framework of dodd-frank to tailor rules that are appropriate for the institutions we supervise and we are not seeking to change. >> i appreciate that. we know that the fed's staff plays a critical role in shap

is dodd-frank really working?one side of the debate is bill cohan who says it is fine that smaller banks are suffering and he hates dodd-frank. on the other side is dennis kelleher, the ceo of better markets. dennis, i was surprised by this. you hate the study? dennis: hate is a strong word. good morning to you and bill. it is misleading to say it is a harvard study. is a study by a former j.p. morgan chase executive that happens to be a consultant for a company in boston and did this paper through a harvard affiliated organization. harvard's claims association with it on the front page of the paper. i look at it and it reminds me of the book "how to lie with statistics." is more fiction than fact. it says that the crisis ended on march 1 of 2010 and everything that happened afterward is due to the dodd-frank law. it ignores the fact that the bill was not passed until july of 2010. almost none of the rules were finalized in 2011. today, less than half of the rules have been finalized and less than 40% of them have

frank rich we're going to start with you. got to keep this 100, frank, all right?y difficult keep it 100 question on tonight's show. you answer ad honestly but driving home you thought you may have answered too honestly and afraid you may have damaged your career but it's really funny, do you call and ask us to edit it from the show before airing? >> no. >> larry: it could damage your career. >> that's easy as a journalist i wouldn't -- >> larry: jokes are better? come on frank. (applause) a man who doesn't care about his career for the joke. not even freed yans comedians are like that. (laughter) okay, you can hand pick the next president either a racist republican who you know will be tough on terror but you know they're racist or a democratic who's a black woman who is your best and first friend in the world -- (laughter) -- wait wait! you knew this girl kindergarten but you know she's really soft on terror, even back then you knew that! >> even in kindergarten. >> larry: who do you choose? the racist republican! at least if he's racist, you know that but he's g

and we hear that you have new information, frank? well we all have sources that we talk in with and i am told that this is for buying time for comcast that owning the them, and nobody from the inner circle expects him to be back, and this is a fig leaf of sorts for brian williams, himself, a and this is also, the second and the fourth shoes that they felt would drop a lot of them spring from the conversations that they have had with him in the past and not on the air, but contributes to a damaging profile of him. one person told me for xamexample that he had claimed that he never went to college, and then she found out that later, this person found out later that he did. or that this whole business with the puppies and the rest. so there are a whole bunch of things happening here, and the real story here is how damaging this is for nbc news. >> it is an -- i mean -- the guy last week and the guy was on top of the world, right? and it is so sad to see, and what is awful, too, the reaction from social media and the people rout porg his

franks. >> beneficial. we do that also. >> you said earlier that it's easy to calculate the cost of regulations but not the benefits. that might be true. i don't know. maybe more work needs to be done. in 2011, the general accounting office found that federal financial regulators both fall short of what could be done. how do you respond to this? do you think that you need to do more? a lot of us think you need to do more. >> if i said it was easy, i would try to qualify that and say it's easier. >> easy or easier? >> easier to identify costs. we very much value information about costs. when we put rules out for comment the most valuable ones are institutions take place. here is a cost i'm going to have. here is the impact on perhaps my need to change commuter systems to implement what you need to propose. we respond to those and incorporate those in the final rules. i think our capital rules is a good champl where we took the feed back from the banks about the cost of implementation and made adjustments. we

let me start with frank. frank you have gone a long way back in history, collective experiences from around the globe. what does an effective modern state a liberal democracy need to endure and can you list the ingredients and what is causing the decay in those institutions that we are seeing? >> thank you michael. this is a really important issue because the difference between 25 years ago when i wrote the original article and now it's back then i think most people around the world has looked to the united states as the model of an effective democracy. i think very few people would say many democracies are not saying we want to replicate everything is going on in washington with the shutdown and refusing to pay back previous deaths in the sort of thing. so it's an important thing for global politics. modern political order has to have three things. it has to have a state which is about power and ability to use power to enforce laws and provide services and protect the community but it is also got to constrai

so let me start with frank. frank, you have gone a long way back in history, collected experiences from around the globe, many continents. what does an effective, modern state, a liberal democracy need to endure? and you list the ingredients -- can you list the ingredients, and what is causing the decay in those institutions that we're seeing? >> well, thank you, michael. so this is a really important issue because the difference between 25 years ago when i wrote that original article and now is that back then i think most people around the world would have looked to the united states as the model of an effective democracy. and i think very few people would say that. i mean, new democracies are not saying yes, we want to replicate everything that's going on in washington with the shutdown and, you know refusing to pay back your previous debts and this sort of thing. so it's an important thick for global poll -- thing for global politics. so in my view, a modern political order has to have three things. it's got

>> dodd-frank does not do anything about underwriting standards. that is one of the puzzles about all of this. what it does is impose a lost restrictions on private sector, slowing economy. we've had slowest recovery from recession since the mid '60s. it hasn't cured the problem we set out with. government policy reducing underwriting standards causing a lot of people who can't sustain a mortgage, can't pay a mortgage to get homes of the we go into the same cycle again, have more failures and another crisis. david: you used to work for the treasury department. you're familiar with looking at accounts who has what, what kind

good evening, i'm julie haener. >> and i'm frank frank.re hit in san jose. police say they all appear to be smash and grabs. at one store, thieves took off with an entire cash register. new at 6:00, ktvu fox 2 news' azenith smith is live at aloha coffee and water. just one of the places there targeted. >> reporter: well frank, the thieves didn't just break into big name stores but you can see the door is now boarded up and owners were greeted with broken glass everywhere this morning. at 6:00 this morning it was the alarm system that alerted the manager something was wrong at this

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i'm frank mallicoat. happy friday. it is 5:00 now. >>> a robbery suspect who police say was wielding a large knife in san francisco's mission district is now dead after officers shot him. kpix 5's anne makovec is at san francisco hall of justice with the latest details. anne. >> reporter: police say they had no choice but to shoot this man. they have been interviewing witnesses about this all night long. the trouble started at about a quarter to 10:00 last night in the mission district. folsom and 24th. police got a call a man chasing someone with a knife. and two plainclothes officers got there. they say they saw an hispanic man in his 20s with what looked like a kitchen knife. they drew their guns and told him to drop it. >> at some point in time, the officers are only allowed to fire in defense of themselves or others felt that one of those situations was in play they fired upon the suspect. witnesses say they heard between four and six rounds. we found six casings so far. that appears to be consistent. >> reporter:

i'm frank mallicoat. it's 4:30. liz is off. we have liza in on traffic and roberta serving up another awesome day. >> you know, he went roberta -- rolls his eyes! [ laughter ] >>> good morning, out the door we have a cooler start to your day. let's check the numbers. 50 bayside. 49 san jose. 46 san ramon. low 40s in napa. clear skies, sunny and bright all the way up to the high 70s. we'll talk about that straight ahead. >> and roberta, we're looking at a good start to the morning commute wide open at the bay bridge toll plaza but commuters will notice the same roadwork we have had out there. crews will be out there and various lanes blocked between oakland and san francisco until 5:00. more coming up. >>> a young man is dead after being shot by san jose police. these pictures are from a facebook page. police say he broke into a home at the corner of alma and sherman streets at 5 p.m. and was confronted by officers outside. police say watkins charged officers with a knife and refused to drop it. two officers then opened fire and

. >> and i'm frank frank. at least four businesses were hit in san jose. police say they all appear to be smash and grabs. at one store, thieves took off with an entire cash register. new at 6:00, ktvu fox 2 news' azenith smith is live at aloha coffee and water. just one of the places there targeted. >> reporter: well frank, the thieves didn't just break into big name stores but you can see the door is now boarded up and owners were greeted with broken glass everywhere this morning. at 6:00 this morning it was the alarm system that alerted the manager something was wrong at this oarily auto parts store. >> i thought it was just a simple, someone just broke a window or something, but it was breaking and entering. >> reporter: when he got here, he discovered this. thieves used a rock the size of a fist to grab what they could. while they failed to steal a generator worth $800, they made up with other merchandise. >> it shouldn't be ladies like this. you >> reporter: similar break ins occurred at the radio shack across the street. and the president restaurant

frank and michelle?jill, i guess valentine's day is tomorrow and, of course, all the sweethearts going to love that and some companies are kind of cashing in, too. but in a different way. tell us about that. >> reporter: yeah. apparently there are many heartbroken and perhaps bitter people out there who are not necessarily looking for love on valentine's day. so there's one website cuddle up to me and that offers professional snuggle sessions for a dollar a minute. dirty rotten flowers lets you send a bouquet of dead roses and tattered teddy bears to an ex. if that doesn't go far enough, the san francisco zoo will actually, um, let you for a small donation, you could actually, um, adopt a very large cockroach. again, frank and michelle, i'm not promoting this. >> it's kind of a fun idea. the scorpion and the cockroach at the san francisco zoo. they can get. >> you can get two. >> creative. jill wagner of cbsmoneywatch.com, have a great weekend. >> thank you. >>> it is 5:40. scientists think they may have

. >> so in the process under consideration related to dodd/frank with the federal register notice and public comments that is an important part to design those rules considering in the appropriate way to design regulation to meet the dodd/frank objectives. for those agencies is something we go through very recently in the process for even those have not gone into effect. >> is it the same with the cfpb wheat it is news and we don't need to review the rules? >> we don't have that rulemaking authority. >> day understand vague argument. but that is not what it says and does not say let's review the rules and regulations that our old but let's review them all. that is why the law was passed. but that recently is through the process but the dodd/frank legislation in itself is 48 pages long but the page cavanaugh of the regulations required has mushroomed to more than 50,000 pages so far in the over 50 million self-regulatory text to say the fact they are new end day implementation process with that response to look at their regulations. >> we will be taken extensive public comments. sort t

frank and michelle? well, jill just a couple of minutes ago i told frank i was craving mcdonald's french fries. >> i'm all over that. >> and apparently mcdonald's is rolling out a new way to pay. tells about that. -- us about this. >> yeah the next time you go into mcdonald east there's a chance you may not need your wallet. the fast food chain is rolling out a new pay with loving campaign. over the next two weeks randomly selected customers will be asked to do a random act of kindness as payment. the one example calling your parents to tell them you love them. i don't know if you guys saw the commercial last night, the super bowl. but it actually -- was made me a little emotional i got to say. >> you go up and order some fries and they say caloyer mother right now. >> according to the commercial you go and it's totally random. when you go to pay instead they'll say perhaps you could do something else. so it would be hug your -- hug someone. whatever they decide. >> hug the next guy in line. >> okay fran

it is sort of an absolutely no changes to dodd-frank.r than the policy that has been talking about -- talked about by the ranking member or the former chair, or has been voted on by this committee to my friends across the aisle join me in voting unanimously for two of my bills that changed dodd-frank. when dealing with derivatives reform, a package the executive branch officially opposed because it sailed through this committee. you join us twice a year, but it is my understanding we hold near weekly lunches. last year, according to your public schedule from february to december alone, you held 51 meetings with the white house and 23 meetings with lawmakers. i do not know exactly who those were. vice chair. a meeting with me was not one of those 23, but that is 42 hours of your time meeting with that. that is three to one you are dealing with the executive ranch versus the legislative ranch. you are willing to share any of the items discussed, that would help with transparency and any of the agreements made during these. if not, i guess

frank, michelle? >> thank you, roberta. 6:21. >>> up next a pair of new warnings about potential measles exposures here in the bay area. where and when check out my breakfast! i got eggs... sausage... ham... bacon... cheese... and toasted sourdough bread. uh, mine's easier. mmm... (eating sounds) do you know that guy? get a load of jack's loaded breakfast sandwich. what's on it? what's not on it? two freshly cracked eggs, ham, sausage, bacon, and cheese all on toasty sourdough made just for you. it's like a big ol' breakfast buffet right in your hand. my tin man has a big toe the size of a house. the lion is small like a toy poodle. and has webbed, duck feet. my scarecrow has wooden teeth... and his clothes have tubes on them. and that's dorothy. she looks like me. everyone has a favorite movie. now people with visual disabilities... can find theirs. introducing the first talking guide. from xfinity. >>> good morning, everybody. billed as an nba finals preview in cleveland last night. the emotions of

frank and michelle? >> thanks, roberta! fireworks the big part of the lunar new year celebration but they are also illegal in a number of cities. we are i love my shows, but i can't just sit around all day. that's why i have xfinity. their cloud based dvr lets me take everything i recorded, anywhere i go. which is perfect for me, [whispering] because i have responsibilities. ...i mean that's really interesting, then how do you explain these photos?! [people gasping] objection your honor. sustained. with the x1 dvr library you could take anywhere, xfinity is perfect for people on the go. >>> good morning, everyone. giants manager bruce bochy is in the hospital after having a heart procedure. he was admitted to a scottsdale hospital where doctors inserted stents. he is resting comfortably and will be released today. he should be back with the giants within a couple of days. >>> jim tomsula looked so uncome for the during his press conference last month is seemed like he was taking a lie detector test. >> did you fly often an

i am frank somerville. >> and i am gasiafrank -- >>> hello. i am frank somerville. >> and i am julie haener. >>> an east bay intersection, people in wheelchairs say there is no safe way to get across. >> another obstacle for people in wheelchair. >> that intersection forces them to put their lives at risk every day. that is because there is no wheelchair access to help them cross the street. that intersection is near san leandro at liberty street and 159th avenue. ktvu's paul chambers is live now at the intersection with what officials said when we asked about the problem. >> people have been complaining for years about this issue. here is the problem, if you are in a wheelchair and you come here, look at that. a major drop off and you would fall off. not wheelchair accessible and they hope to change that. >> reporter: for the last six years he relied on his wheelchair to get around. he lost his mobility to multiple sclerosis. >> hello, my friend. how are you doing? >> reporter: he says getting out and about lifts his spirits. getting here is

any positive urine test, frank could be sent right back to usp. >> i smoked marijuana. my distribution was for mushrooms. every time i get out, i end up getting high again. i hope this is different. i'm scared, though. >> frank's 30 years old. that's where offenders are usually on the cusp. where they'll start aging out, they'll slow down and will start making responsible decisions. you'll hear a lot, i'm too old for this. i'm too tired for this. >> so if you're not hanging out with the bad guys, if you're not using drugs, if you're employed -- >> it shouldn't be a problem. >> exactly. you're going to move on and this is going to be the first day of the rest of your life. >> that's how i'm trying to look at it. >> statistics show that if an offender is able to stay in the community for six months, they have a 30% chance of completing parole. that percentage rises to 50% if they are able to stay out a year without re-offending. >> ready to go, baby? >> daddy! >> i don't know that there is anything i can do to make up for it. hopefully i can be a good dad and be an active

i'm frank mallicoat. happy wednesday.d energy company that was shipping bakken crude oil through the east bay has stopped. but it's not out of concern for safety mind you. the trains carried the same highly flammable liquid that fueled this week's explosion in west virginia.

frank and michelle?rea woman now a step closer to winning a trip to the red planet. >> but there is a catch. the journey would only be one way. betty yu talked to her about a historic mission to mars. >> reporter: it's a mission that's literally out of this world. winning a trip of a lifetime to mars. what was your first reaction when you got the word? >> i cried. i was super excited. >> reporter: ken yeah armbrister of oakland is one of 100 finalists who could leave earth forever in 2024. they have been chosen from 200,000 applicants around the world to be part of the "mars one" project to send humans to mars using today's technology. why leave earth? >> why not leave earth? there's so much more to explore and see within our own solar system. >> reporter: the 36-year-old works in research and development at a pharmaceutical company in san francisco. she has been preparing to be a martian for months. >> it's basically creating a new society on another world from scratch. >> reporter: kenya still has to p

. >> reporter: frank's stereo shop got hit hard. literally. >> they backed into the store. >> at 4:00 this morning thieves drove a pick up truck through the front door. >> had to get enough velocity. enough to send it flying and snapping a gate in half. then frank says they hauled his pricey stereo systems right out of the show room. >> a pair of those is $17,000. >> reporter: stairs made in canada, england. >> reporter: frank says they stole $15 to 45,000 worth of equipment. >> i feel like i have been -- what is the word for it? violated in some form or another. >> reporter: nancy heard the truck crash. she was sheeping just above the shop. >> i heard a huge boom that we both thought was a earthquake at first. >> she and her husband raced to the window but too hate to spot the thieves. >> you can tell he thrown something into the back of it and it took off towards the tunnel. >> this is all about ... >> reporter: he is left with a business to rebuild but left with the last upon laugh. the theft took his pricey stereos but failed to

frank: significantly more than that.ve been cautious about talking about the apple pay numbers. erik: why? frank: i just think people look at it. erik: it's ushering a revolution that you're going to benefit the from which is why everybody is going to have a house that we have enabled millions of cards. and we've enabled the merchants. and we see expo innocencal traffic from what we first saw. erik: now at the outset one of the largest leverage buyouts of all time and a tough foil sexual other from your private equity what about seven years? frank: yes. 20 quarters or so. erik: i'm sure that's your objective. frank: what i said when we got to the company was we are here to make a great company. building the i.p.o. is not. erik: wait a minute. the i.p.o. is the most leveraged equity. >> i think if you look at kendrick perkins, they put frank: we're way better prepared than we were a year and a half ago. erik: thank you frank from the first data corporation. >> some of the headlines around the world that the hour. the ukra

frank, thank you for your time.appreciate it. >> thank you. >> there is a lot going on on the hill. more breaking news. the senate is moving very quickly to hopefully class the clean funding bill. we'll bring that to you right next. when heartburn comes creeping up on you... fight back with relief so smooth... ...it's fast. tums smoothies starts dissolving the instant it touches your tongue ...and neutralizes stomach acid at the source. ♪ tum, tum tum tum...♪ smoothies! only from tums. doers they don't worry if something's possible. they just do it. at sears optical, we're committed to bringing them eyewear that works as hard as they do. right now, buy one pair and get another free. 73% of americans try... ...to cook healthy meals. yet up to 90% fall short in getting key nutrients from food alone. let's do more... ...add one a day 50+. complete with key nutrients we may need. plus it supports physical energy with b vitamins. one a day 50+ pizza is perfect. pizza with bacon cheeseburger on it? way, way more perfect.

frank and michelle? >> thank you. >>> the iconic at monday windmills are getting an -- altamont windmills are getting an update. >>> reporter: and i'm dennis o'donnell. coming up, how can you possibly play pebble beach if it's valentine's day? one golfer's unusual response is coming up. and the golden state warriors, can they hit the all-star break as the best team in the nba? tip-off straight ahead. i love my shows, but i can't just sit around all day. that's why i have xfinity. their cloud based dvr lets me take everything i recorded, anywhere i go. which is perfect for me, [whispering] because i have responsibilities. ...i mean that's really interesting, then how do you explain these photos?! [people gasping] objection your honor. sustained. with the x1 dvr library you could take anywhere, xfinity is perfect for people on the go. >>> good morning, everyone. it's official. warriors coach steve kerr has named klay thompson as the starter in the nba all-star game joining teammates steph curry as an all w

i think dodd/frank is a little too large with there are portions of are tremendously important.ennedy: i and a stand that there are parts that are really good but the unintended consequences coming from over regulation it is hurting families and small businesses and that is the bottom-line. >> think about washington and unfortunately historically you have enormous pieces of legislation. kennedy: it is baked into the cake you cannot take it apart. >> they pay lawyers and lobbyists to go to a court's to fight for these regulations and it could have been solved and food gets hurt? because of the regulation because it is too much. please come back. kennedy: tell me what you think and you can sell off. agreeing energies kandel takes down a governor and we have details of a lot of the worst scandals a long time will say the best part of last night's special coming up next. of the "topical storm". know that chasing performance can mean lower returns and fewer choices in retirement. know that proper allocation could help increase returns so you can enjoy that second home sooner. know th

i'm frank mallicoat. >> i'm michelle griego.e now is 6:30. >>> new details on a plane crash today in taiwan. rescue workers pulled survivors from the wreckage of a plane that crashed in a shallow river in taipei. so far, there are 15 known survivors. 23 people are dead. and another 20 are missing. after dark, a crane lifted the fuselage enabling access to areas that had been under water. take a look at the left side of your screen. the impact is actually caught on camera. the plane is a french-made atr- 72 turboprop that turned sideways and clipped the elevated national seaway number 1 and landed in the keelung river in taipei harbor. >>> a man implicated in the discovery of a dismembered body is now free. at least for now. kpix 5 reporter anne makovec has the latest developments. she joins us live from the hall of justice. >> reporter: the d.a.'s office has not said whether or not it believes that this former suspect did commit the crime. the d.a.'s office simply says it doesn't have enough evidence to support a murder charge.

and private frank thompson comes into the war with a secret. private frank thompson is actually a woman named emma edmunds and has been living as a man for two years. and emma edmunds had quite an interesting and difficult childhood. she was born and raised in canada to a father who was increasingly disappointed by the fact that his of wife kept bearing sons -- excuse me, daughters. he wanted a son. and edmunds did her best to become a son figure to her father but still failed him. and he told emma he was going to arrange a marriage for her just as he had done for all of her older sisters, and emma didn't want any part of this. she craved the life of excitement for herself and she decided that one day she was going to cut her hair, bind her breasts and trade in her man suit for a woman's dress and start living, um life as private frank thompson. and she becomes an itinerant bible salesman and migrates to the united states and starts hearing about abolitionist john brown and decides she wants to enlist. she considers herself a devout christian a

you're covered taxi and limousine commission you vent heard what mike bloomberg said about dodd-frank was job killer. >> leaving city because of automation and growth in technology in the u.s. more diverse economy is good for us. this is will happen where cities get better and suburbs get worse. cheryl: 10% of the all the jobs added by wall street. this time around 1% to wall street. wall street is not contributing to new york city. >> that is a problem. wall street didn't just give you very high-paying jobs it gave awe lot of jobs. we're not talking about traders, back office people, support people. those people took the brunt of layoffs. took a lot of layoffs. if you're going to tell me that you know, people that make between 75 and $200,000 a year, that is kind of middle, right there, right or 75 and 150,000 that those people are doing better since dodd-frank and the fact that we have less of those jobs, that is a good thing, you're nuts. that is apology for dodd-frank and impact this had on this city particularly in those types of jobs. cheryl: thank you, "new york times." guys, t

frank and michelle? >> bring it on. okay, roberta, thanks. 5:17. >>> some experts say the world's best surfing spots could one day fall victim to climate change! the usgs helped put together a landmark study of the california coastline and using that information, some scientists think the beloved surfing spots of santa cruz could be victimses of a changing climate! >> i know some surfers can do it in a second you know some really good surfers could look out there and tell you those are two meters breaking coming in to one meter into shore. >> if the forecast correct the declining waves in santa cruz could be coupled with the creation of a big surf break on other parts of the pacific coast. >>> 5:18. shattered dreams for hundreds of bay area little leaguers. why these kids won't have a place to play ball this season. >> reporter: and i'm dennis o'donnell. coming up, the warriors got their superhero back last night. we'll show you how steph curry did. and what giants player does not have a world series ring but a japanese

the dodd-frank does in fact hurt smaller banks.ng horse for larger banks to have their regulations? jim: it also affects credit unions. it is having a chilling effect across the small financial institutions across the country. we have had 6000 pages of regulations with 36 different agencies, not just the cfd be issuing them under dodd-frank. says had a chilling effect in adding cost to the bottom line making it difficult to issue loans and serve that population. brendan: how do you rewrite dodd-frank to fix this problem? jim: it has become political. it is not just a stalking horse down the chain. it is one of the chain at if you change anything, it must be for big banks and must be political. betty: speaking about cost, the american action forum keynote this report. it says the seven rules have cost $12.5 billion,. they say where is the return? jim: that is great question. erik: maybe we have to live in a world of lower returns. [laughter] jim: it is a sad question. betty: what does that mean for the economy? erik: what is a bigge

franks. >> good morning, chairman shelby ranking member brown and distinguished members of the committee. my name is candace franks and i serve as bank commissioner of the arkansas state bank department. i'm chairman of the conference of state bank supervisors. it is my pleasure to testify today on behalf of csbs. i would like to thank congress and this committee for your focus on community banks. in my 35 years as a state regulator i have seen firsthand the positive local impact of community banks. these banks are critical to providing access to credit and urban as well as rural areas and they are important to building and maintaining consumer confidence in our financial system. one out of every five u.s. counties has no physical banking offices except those operated by community banks. in my home state of arkansas a very rural state, there are 96 towns that have only one physical banking location. for these small rural towns, the community banking system is the banking system. community ban

anne, you're in red, i'm in red, frank is not. >> oh, frank! it's hard to think about all this stuff when you're getting up at 3 a.m. trying to make it to work but you should get your red on because it is the beginning of a new lunar year. chinatown here behind me has a little bit of waking up to do but it is safe to say "gung hay fat choy." i have been working on my pronunciation. the lunar new year celebration? san francisco is the largest in north america two weeks long that culminates with a parade on march 7. this is last year's parade video. people will be gathering the symbolic staples, tangerines, red envelopes and material for the signature dish buddha's delight. >> everything has significance. it's the same type of stuff, you know, the, um, prosperity, the longevity, there's, like, those big long noodles in everything. >> reporter: now some people have actually been having trouble finding some of these materials some of the dried goods especially because of the port shutdown. that's another story entirely. so what is it though? is it

strongly questioned by senators on whether dodd frank is too tough on banks. reducing lending. it's a prelude to possible changes that could come in the new republican-controlled senate this year. yellin likely faces an even tougher grile house with more support from conducting monetary policy according to rules dictated by congress and for bills to audit making a monetary policy. both ideas yellin strongly opposed today. for "nightly business report," i'm steve liesman. >> chief global economist at deutsche assets and wealth management. nice to have you back. >> nice to be here thanks. >> do you agree basically with the chairman's assessment of how the the economy is doing is doing? >> i think the economy is improving but it's not complete. they're lacking in the labor market although we've made a lot of progress in whittling it down particularly over the last year or so. >> are you in the camp josh that the fed will raise interest rates this year? >> i do. i think that it's not a sure thing and i think the real takeaway from the yellin testimony today is fle

and then lastly i wanted to mention some news about one of our long, long-term tenants, frank sabella: frank sabella was born in 1912, one of 12 children born on francisco street right across from the port, to his parents and he had long been the owner of sabella and latora restaurant on fisherman's wharf. they serve lunch and dinner and also has a crab stand that sells calimari, among other things. he was born in 1927 right in the roaring 20's period and frank acquired it right after world war ii and ran it for many many years. it's now being run by the fourth generation of sabellas, which is very exciting. in january, frank sabella passed away at the amazing age of 102, which just goes to show that you eating crab is really really good for your health and crab with san francisco sour dough is even better for all of you who are conscious of your carbs, knock it off. so we want to celebrate his life and his legacy at the port of san francisco and i would ask you to consider adjourning in his memory today when you adjourn your meeting. so that concludes my report. >> next item. >> publ