and he'll get a good haircut.ll that, but he'll get a good haircut. >> we met willard lucas at indiana state prison. he had been working the same chair for 26 years. >> my special haircut is a taper haircut. and my other specialty before they took the razors away from us was a straight razor. i could use a straight razor pretty good. and -- which i enjoyed. but for some reason, they took them away from us. so we don't use them no more. >> at 79 years old, lucas' grandfatherly personality seems at odds with his past. he is serving two life sentences. >> i caught a guy in bed with my old lady and i blowed my top and i kind of hurt him. >> what were you charged with? >> kidnap, murder. i was going to take her to the, to the hospital, i didn't think she was dead. because she was moving. and i put her in the car and that's where i got the kidnapped picked up from. i got to be here until i die. i got double life. and i got to stay here until i die. >> though prison barber shops can possess an almost bucolic small-town c

the haircut is to help lower debt by 2020. the questions still remain over whether greece is truly out of the woods. silvia, who has been pulling all the hours in the very long day and overnight as well today, we have a deal on the table. this is a great er psi involvement. there is the idea of central bank involvement. no, as i understand it, silvia, no escrow account. that idea disappeared, did it? >> reporter: no, it hasn't disappeared. and one can safely say there is no animal safe, no goose out of the woods, no cow off the ice as we say in germany. i think what we're still doing is what we've done all this time, buying time. we push it a little bit further into deep space. greece was on the verge of disorderly default. we've pushed it back into orderly boundaries now. the escrow account, they call it a special account or specially dedicated account, is not off the table. it is there. the conditions of whatever is attached to it have to be fine-tuned yet the but it has been agreed upon. we have, of course, an involvement i

take a look at this haircut. not so much a haircut as it is an architectural feat.s daykwan underwood. look at the intricate detail on that fade. this is pure art. even tri-colored the hat, they etched it, if you take a closer look there. he's listed at 6'1", but with all of that hair he's about 7'3". you have to put the barber's name. >> kid and play meets fresh prince and a little get of gumby. >> bye! >> have a good one. [ male announcer ] for some reason those five food groups sound a whole lot better when you put them in a taco shell instead of a pyramid. old el paso. when you gotta have mexican. fantastic! pro-gresso ] they fit! okay-y... okay??? i've been eating progresso and now my favorite old jeans...fit. okay is there a woman i can talk to? [ male announcer ] progresso. 40 soups 100 calories or less.

. >> oh, the greek haircut. who other did you want besides governor karn sn governor carney? >> i think i'll ask bob first. 75 million young people unemployed. actually, it must be far more. it's a problem not just within the developing world. we see it as a central issue in what has happened in north africa and the middle east. it's a central concern for you. from your perspective, both in the world bank and more widely, how important is this issue and what, if any anything, should be done about it? >> well, it's important across a range of things. number one, what we've seen is that if people don't get a good start in terms of employment and skills, it can can affect them their whole lives. number two, this is a testimonily then underused resource. three, there's a specific issue that we're dealing with and others are about the school, the work transition, and some of the skills development that is part of this. so all of this is part of the bigger issue that i think some of us have been trying to draw out, wh

we know they are probably going to accept greece's a deeper haircut. we know there has been talk of the e.c.b. taking a haircut. on the greek debt it holds. however these details are not finalized. what we know is that greece's outlook isn't that great. we have seen the least reports from the troika on the sustainability of the greek debt which pretty much sums up what everybody here appears to know that greece's position has deteriorated in the last few years. it has deteriorated because the austerity packages haven't done what they were supposed to do. so far they have turned the country into an ever deepening recession which is obviously making greece very, very unhappy. they are afraid that yet more of this -- >> i've got to bring in the live shots. sorry to interrupt you there. just want to show you viewers what we are seeing. this is the scene live in brussels, the scene that we have been anticipating for some three or four hours or so. we are expecting officials there to actually make an official announcement regarding the second bailout package

best case scenario gets what it wants suppose it does get what it wants with seventy five percent haircut exactly what do you think all the other nations such as portugal ireland even spain and italy would do when for support strange austerity measures paying twice the taxes would have the benefits greece gets away with it everybody stands in line and i want no way around this structure ok debt destruction that's an interesting point and i want to get more into contagion and what other countries are going to do but basically are saying this isn't a bailout so is there anything you see that is going to get greece out of this depression as it stands. well as the referencing the charts that you just showed when you have a significant drop in credit to households and corporations those are leading indicators so when you have a significant drop in the lending to. a negative a significant drop in then being in a negative growth rate and then into corporations after the fed corporations will be doing. employment and to do so put then you have the depression area fit so what you're seeing is a pr

when we can organize and city government to provide that to opportunity, and whether it is a haircut,can we provide training, how can we get you some eyeglasses, how can we set you up on e-mail -- q different parts of life we live normally may not be available to everybody, but you are here to make that available. when i think about the otani bennett is singing to, i think about you. -- when i think about who tony bennett is singing to, i think about you. it is a city of people to know how to do things for other people. that is what makes me so proud to be the mayor of this city. i am willing to sacrifice everything there is to do what is good for the city. i do not care about the politics so much as i care that we can bring more people together under this big tent we call the city of san francisco. triple the effort to help so many other people change their lives, and if we can have a moment and their lives to suggest there is a way out, venues in which we care for them, it isç represented in the way you do things today. çthe way you talk to people. the way you communicate.ç i lov

key part of the new bailout but some people say forget all this news ok greece needs more than the haircut it needs a full blown default we hashed out the league debt document with rosy assumptions earlier this week but there are more financial shenanigans to lay out our next guest is going to do that he's been saying for years that this crisis won't end until creditors recognize and mark down their losses and for greece that would probably constitute the bulk of their outstanding debt and then last couple of days we've seen people like the folks at fitch ratings finally catch on they just downgraded greece one notch above default but deep thought as bad as it may be for one country is just the beginning it's really the spark reggie middleton says contagion should really be what everyone is focused on right now reggie is entrepreneur lee investor he's author of the boom bust blog he's also just an all around bad ass and he's here to tell us why contagion is what we really need to be looking at before we get to that reggie i do want to talk a little bit about greece and first of course than

that's called a haircut. greece gets to cut its debt load, and for the i.o.u.s remaining, take more time to pay them back and pay much lower interest rates. the goal is to bring down the size of greece's government debt compared to its overall economy. for greece's part, in order to cut its debt, it will have financial officials from the european commission on the ground in athens, making sure it sticks with its spending cuts. this is an unprecedented move, having outside financial watchdogs with "an enhanced and permanent presence in greece," according to the euro-group. mujtaba rahman is with eurasia group. mujtaba welcome to nba. this deal is nine months in the making does it become a reality? >> i think so. the idea that greece would be able to sinks in to a disorderly default was not a real proposition. we knew we were going to get a deal. we knew that the psi the private sector involvement exchange would go through. i think a real question was a more medium term. the back of the year at the beginning of

decker. >> they fear him and haircut promotes the image. don't want to mess with it. >> meanwhile, another battery is going unplugged and the white house wants to double down on green. time for spring training. @=h "why did i roll over my i.r.a. to scottrade?" "for starters, it didn't cost me anything." "and i got a one-hundred dollar cash bonus for rolling over by april 16th." "i like bonuses." "plus at scottrade, there are thousands of commission-free investments." "and if i need help, i can find it online, by phone or at one of over five-hundred scottrade locations." "it's why more investors with i.r.a.s are saying.." "i'm with scottrade." ♪ [music] in here, the landscaping business grows with snow. to keep big winter job on track, at&t provided a mobile solution that lets everyone from field workers to accounting, initiate, bill, and track work in real time. you can't live under a dome in minnesota, that's why there's guys like me. [ male announcer ] it's a network of possibilities -- helping you do what you do... even better. ♪ >> nei

it implies a bigger haircut or perhaps a widening volume of creditors. either way i don't think this deal will cut it in terms of a debt target. >> so we're still effectively throwing money to buy time. meanwhile in november alone 126,000 greeks lost their job as a country, 11 million people. the greek economy seems to be getting worse. where does this path lead, even if we agree to the package now, where does the path lead? >> a very good question. i don't think anybody knows. ultimate ultimately it does suggest that greece will be forced into a bigger default. whether that default turns out to be again changing in terms of greece's relationship with the eurozone is the question. the optimal position from where i'm sitting we have a much bigger write-off of debt. now that's going to cause all sorts of problems but obviously it could, indeed, end up with greece ejecting from the region which is a bigger problem for greece. that's the way it looks at this point. >> it's like putting a patient on a drip, isn't it? >> yes. unfortunately, it's a little bit l

it makes it rough to get a haircut around here. >> the lack of a good haircut is not his only complainte meat is. we nar low -- narrowed it down to alpackas or guineas or a combination of both. mainly what you get down here seven days a week you can count on it like clock work that is rice and dehydrated potato flakes. as i was saying, rice. that means tonight we'll have poe tays on here. >> they add water to them and it's like sea monkies. add water and poof, you know. >> stop says he had a better diet back at indiana state prison because the inmates were allowed to tend gardens and grew their own food. >> this place has so much area that is not being used. they could do the same thing over here. if they allowed guardening, this place could self-feed itself. this place has to much potential but yet they don't use it. they don't have no cat programs down here. they don't allow no gardens down here. they don't allow no hobby crafts down here. you're pretty much not even allowed responsibilities down here. it's not a place where you have a way of life, you know? you east jury here, that's

it is and i said i think there's more cuts coming both as far as haircuts on the bondholders and more cutbacks in government spending and that's they should just be lowering the minimum wage they should be a policy good but a lot of countries have these minimum wage laws as they first are conscious but you still have too many people employed by government you still have government meddling in too much in the economy and that has to stop i think that what really should have happened is they should have defaulted completely stayed in the euro and dramatically cut government spending that didn't happen but i do believe that look they're doing now is better then simply leaving the euro zone and trying to perpetuate massive government with printing press and it's rock because if the greeks think it's bad now will they see how much worse it would have been if they took that but i mean i'm wondering for so many of these people that are in greece people who have been out of work already or will now lose their jobs it sounds to me i mean fifteen thousand more jobs cut. last wages than even the

ultimately when you are talking about a 70% haircut, the market was implying a 90% haircut, it is a defaultome point all lenders have to accept responsibility for the risk they took and unless we can enact the program, you are at some point whether it's now, today, six months, 12 months' time, you hit a default. and to date we haven't actually really seen any progress on that. we've seen significant progress in other parts of europe. >> george, the important thing -- this is christine, by the way. how to manage the default. are we heading towards an orderly or has the chances of a disorderly default now increased and what's the ramifications of the global economy? >> yeah, i think it's a very key question because actually the last thing anybody wants is a disorderly default and i think that the preparations and the breathing space of the l it tro allowed and the work the troika is trying to put in place obvio obviously gave some form of stability but ultimately i think any form of default is going to be somewhere between the two where you end up with some restricted currency, some assets th

we're hedging our bets, no reason there should be haircuts mao. next question, please.re will be plenty of questions. we can ask about the upcoming ltro. we can ask about collateral requirements. we can ask about the interest rate outlook. we can ask about the economic outlook. there are plenty of questions about but a lot of question marks because there are not a lot of answers mario draghi can give because we are a little bit in the waiting loop and the markets don't expect a rate move straight forward today. >> just worth pointing out the greek unemployment numbers just come out, 20.9%. it was 18.2% in october. so that's hardly going to make the unions want to back off their strikes. you talked about plenty of 0 other questions, of course, and the effectiveness of the three-year ltro will be one of them. james ferguson is head of strategy at west house securities. also with us tony fratto from the united states as well. james, let's bring you in on this. the ltro has undoubtedly been a game changer, it's made everybody believe that we're not going to get a collapse o

london debt agreement whereby creditors for all of germany's debt agreed to take a fifty percent haircut on german debt yeah well this is interesting isn't it a bit of a double standard here the germans got a huge break on the debt back in one nine hundred fifty three the other countries rallied to give them a break because they felt that it was in everyone's best interest now here we are twenty twelve and germany's in a position to return the favor but they bought. going russian president dmitri medvedev submitted the fourth of the final bill which is part of his so-called liberalization campaign well it's seen as a response to the latest opposition rallies in the country following the parliamentary elections in december and the latest amendments concerns the formation of the lower house of parliament for more on the proposed changes lots of parties peter oliver peter can you tell us what exactly this bill is going to change the election system well the idea behind this bill is to make russia's elect electoral system fairer and more representative now as it stands at the moment some reg

in an in in an interview with cnbc, the governori governoring councilmember said a haircut o haircut of greek debt is the cards. the cards. silvia silvia is on the g spoke to spoke to him in frankfurt. silvia? silvia? >> reporter: the no haircuts on greece, greece, i'm not surprised is the is the official ecb line and i daresay daresay at the moment it's not on on the cards because we've had the the decision out of brussels, of course, course, only last week when we -- we -- or was it this week? we we knew the ecb would the centr the central bank. the the interesting take is that they gave they gave us. we never we never said that. >> >> we always focus on price stability stability and that, to me, was very very important, the inflation expecta expec follow follow them in the immediate long long term and there the situation has not created. as long as they are, of course, then we are delivering, so it's not out of the agenda. it's always there but it has not been upside. >> reporter: the markets have always said, and maybe us journalists have a line in the sand at 1% on the down side

coming up, haircuts and history.th a barber and a civil rights hero right after the break. your finances can't manage themselves. but that doesn't mean they won't try. bring all your finances together with the help of the one person who can. a certified financial planner professional. cfp. let's make a plan. >>> every week on this show we highlight a foot soldier, a person who performs challenging work often for the betterment of others. often for no personal gain. i'm proud to bring you our second foot soldier of the weekend. james armstrong. while he's no longer with us, he is the subject of a documentary short. the barber of birmingham. food soldier of the civil rights movement. let's take a look. >> i'm always going out, the worst thing a man can do is nothing. i got a lot of pictures of everybody here. we started to struggle by joining the struggle. i remember some terrible days. i thought about what don king said. i've been to the mountaintop and i look over and saw the promised land. i may not get there with y

thanks, haircut. >>> welcome back. let's find out if we got anything wrong so far. for that we go to tv's andy levy. hi, andy. >> hi, greg, how are you? >> good, thanks. >> in the intros, after the title of gavin's book you said, we will pleep that. well, the audience knows that because it has been bleeped by the time we see it. >> that's weird because i didn't think of it at the time. now i feel foolish. >> unlike you, i am always thinking of the viewers. remember that, viewers. remember when you vote in your favorite "red eye" poll. >> there is no poll. >> anne, regarding the porn you said this is what liberals do. i'm not sure why you think it is a rib brail thing. >> it is a clue. >> yes. and they are limberals. >> i agree with you that liberals have no problem banning thens they don't like, but so are conservatives. >> and subsidizing the things they like. you don't have liberty university flying to new york and demanding they shutdown the gay rights parade. and yet they fly down to whatever liberty or university they are in to take in the sights. they are knot

coming up, haircuts and history.r and a civil rights hero right after the break. [ male announcer ] lately, there's been a seismic shift in what passes for common sense. used to be we socked money away and expected it to grow. then the world changed... and the common sense of retirement planning became anything but common. fortunately, td ameritrade's investment consultants can help you build a plan that fits your life. take control by opening a new account or rolling over an old 401(k) today, and we'll throw in up to $600. how's that for common sense? your finances can't manage themselves. but that doesn't mean they won't try. bring all your finances together with the help of the one person who can. a certified financial planner professional. cfp. let's make a plan. >>> every week on this show we highlight a foot soldier, a person who performs challenging work often for the betterment of others. often for no personal gain. i'm proud to bring you our second foot soldier of the weekend. james armstrong. while he's no

. >> i love the haircut. >> what he did is took her haircut and just made it more contemporary, shortmodern, pixie. but notice it still has the length in the front. >> yes. >> high blush which just lifts the face. you look younger, brighter, prettier. you look like a movie star. >> that outfit looks terrific. >> and jewelry. >> macy's always partners up with us for this national wear red day. we're so happy we could give her these pieces in the process and the jewelry is just great, delicate but statement jewelry. >> it's beautiful. >> oh, my gosh. you look beautiful. >> here's the plan. you're going to go over there and face the wall right there. but she's going to see the back of her hair and she's going to know. will you stand in front of her? >> okay. perfect. >> if something happens, i don't want to know. our second lady is nancy, 57 from st. louis, missouri. after losing both her parents to heart disease and losing her son four months ago, boy, this family's been through a lot. she's ready to start this new chapter in her life with a brand-new look. let's hear it. >> all right.

it's time to get a haircut. so we gave her a great hair cut, gave her shape.d her color with a little bit of high light. add highlights in the winter to give yourself a little glow. >> guys what do you think? >> amazing. >> i hope she will still want to help us change diapers. >> that little black dress is hot. >> i didn't pick it. she did. she's like, what about this? it's simply vera wang available at kohl's, under $100. >> all right. great. thank you so much, everybody. >> our second lady is jennifer. she's 37 from sidney, australia. she's a stay-at-home mom and today is the first day that she's taken time for herself. what better way to pamper yourself than with an ambush makeover. she's with her friend and her friend's son. let's listen to her story. >> second victim, second mommy with two kids and you told me help, i need a makeover. >> yes, i would like a little bit of a new look. i feel i've looked the same since high school. >> what do you think your husband will think? >> i don't know. >> we're going to take you into the factory, like we say. you rea

. >> when somebody has a haircut that is spectacular, it is life changing. >> reporter: we caught uph him at the international beauty show in las vegas where hair is big business. >> babies poop. they always need a diaper. men shave. they're always going to be a need razor. people need to get a haircut and color, there's always going to be business for us. >> reporter: even in a bad economy people will still open their wallets for a haircut and he knows why. >> you're in the salon for an hour-and-a-half and you can completely change your image and identity. how amaze ing is that? >> reporter: which may explain why actress gig orny weaver dives into roles head first. >> i often work from the outside in. i kind of meet the character in the middle somehow because i feel like it's part of the self-expression of the human being. >> reporter: from ghost busters to alien 3, weaver is known for her electrifying.... >> okay. >> reporter:... hair-raising performances. >> that's a different look for you, isn't it? >> are the key master? >> i have to say that throughout my career, our running ha

so it makes it sort of rough getting haircuts around here. >> the lack of a good haircut wasn't stone'sbash. >> this here is probably one of the best meals we got out of the whole menu and we still ain't figured out what the meat is. we've narrowed it down to alpacas or guineas or could be a combination of both. an alpac guinea. mainly what you get down here seven days a week, you can count on it like clockwork, that's rice and dehydrated potato flakes. and as i was saying, rice. that means tonight we'll have potatoes on here. dehydrated potatoes. you know they add water to them, poof. it's like see monkeys, they add water, poof. you know. >> stone says he had a better diet back at indiana state prison. because the inmates were allowed to tend gardens and grew their own food. >> this place here has got so much wide open area that's not being used, they could do the same thing down here if they allowed gardening. this place could self-feed itself even. >> this place has got so much potential, but yet they don't use it. they don't have no cats down here. they don't allow no gardens down h

this requires a haircut of 53.5%, and there are several efforts will reduce the greek public debt tohe level of 120.5% over gdp by 2020. >> olli rehn pointing out it's the private bondholders taking the bigger hit. imf boss christine lagarde welcomed the deal saying it laid the foundation for greece to return to prosperity. >> the combination of these significant efforts plus the ambitious program with a clear focus on competitiveness should really give enough space for greece to restore its competitiveness, to improve its debt sustainability and to demonstrate that with good and solid and rigorous implementation checked on a regular basis by the various partners associated with the program, it can get back on track. >> well, with a colossal debt and years of austerity ahead, that journey could be a long one. joining us with more from agent then is elida. what do you see as the reaction in greece? >> reporter: the initial reaction is it's close to what greece expected. what remains now is to see how much of this can really be implemented. this has been the main thing dominating headl

he walked into court early this morning, clean shaven, a short haircut, and wearing a dark suit and tie. he pleaded not guilty to all six counts including first-degree murder. >>as relatives and attorneys for both families filed into court an extremely large media presence has taken over the small virginia town. >> people are thinking about what they put away for two years. it may be cathartic. >> the circuit court must find a way to select the 12-member jury and three alternates for this high profile murder case. >> we have the jury system in this country and hopefully they will be able to see through both sides of the story and boy with a just verdict. >> jurors will see graphic images of yeardley love when she was found dead inside her apartment in may of 2010 for a defense attorneys will say her death was an accident partly caused by an irregular heartbeat that it is challenging. >> you knew both of them? >> absolutely. >> since the death, the university has increased awareness about domestic violence and protection. students have been warned of emotional distress during this painfu

(interviewer)so what kind of look are you looking to achieve with this haircut? >>well, a normal look, like a decent guy, right? do i look decent? yeah, i do, man. i dress decent, don't i? think it'll work? not that much right now. (vo)slappy is one of the founders of 18 in el salvador. born here, he grew up in los angeles where he joined the latino gang, 18th street. at age 16, slappy was back in el salvador along with hundreds of other gang members who had been deported from the us as illegal immigrants after being convicted of crimes, but his family stayed back in the states. >>i was like, dang, is this my country? i'm serious. i didn't know this country when i came here, 'cause i left when i was a little kid. it was hard to get adopted to the culture here. so what we did is got together and we started the gang here. we started jumping in homes and all that. it started getting big, and a bunch of hommies came through deported in those days and they still come. (vo)the deportees found everything they needed for a gang culture transplant. guns were everywhere on

they took a haircut. they took a big haircut. the wages they have right now aren't anywhere near what they used to be because they wanted to see it succeed. they also took hits in health care and pension. it's a little different on that assembly line than it was years ago. the american workers have stepped up in a big, big way. and it's unfortunate the republican party is saying that adding jobs is a bad thing in the automobile industry because they didn't do it the republican way. yeah. the bain way. give me a break. you want to know why the guy is getting his butt kicked in his home state? he's not honest. he's not honest with the economic facts of what is happening with the economy, and you can just see the jealousy drip off him in the commercials. he would be a horrible candidate at the didn't have a bunch of money to spend on tv ads. if it was santorum and romney standing there with nothing but what they believe in, romney would be out to lunch big time and he wouldn't know how to pay for it. >>> speaking of paying for stuff

i just got a haircut. my barber wasn't aware of this particular rule. second, we have a rule requiring child care providers to smile [ laughter ] finally, and this shouldn't be surprising and i appreciate our leadership today, but the department of environmental quality has 28 separate requirements for outhouses. including the requirement that the seat not be left up [ laughter ] [ applause ] i don't know about you, but i have a higher authority at home. i don't need the state telling me that. [ applause ] it's going to be an interesting evening. now let's talk about 2012. 2012 will be a very different year from 2011. 2011 was focused on dramatic policy improvements over a broken model of the past. we set a bright course for the future. 2012 is about finishing that work. the work leftover from 2011. tackling a number of challenges and really making this year about good government. it's not about big government or small government. it's about good government. government doing the right things for the right reasons. let's fully implement what we already s

haircuts and makeup. i hope you will continue. hear you are going to keep this curly look up. >> i am. it won't be long again. >> it is great. still get -- can you still get tonight a ponytail? >> no, but that's okay. >> we had a great time doing this week. it is our second year. we hope to keep it going. next year on valentine's day. shh. don't tell anybody. great to have you with us. >> thank you. >> thank you so much. our time right now is 11:49. coming up, aretha franklin talks about singing at whitney houston's funeral. tom kierein will have a final check of the storm that could bring us snow or rain thing weekend. stay with news4 all afternoon. at 3:00 >>> aretha franklin and stevie wonder will be singing at the private funeral of whitney houston tomorrow. tommy mcfly from 94.7 fresh a.m. is here to talk about that and bobby brown's appearance. >> a lot of crazy details coming out about the funeral and about what's going on. actually aretha was on the "today" show this morning. >> final preparations are under way as we know