what in hate teaties name has t got to do with hank paul on? he's plainspoken, high intelligence can border on arrogance but hank paulson helped save this economy from an even worse collapse. let's bring back the real deal squad, michael, tanya, greg, michael, start us off, can i get a witness? >> i don't know. if you're the treasury secretary and the economy collapses on your watch, you know, you're going to be in the hot seat. i think it's at best naive to think that hank paulson is not going to be dragged over the coals. >> questions about nixon -- >> dennis, i am no fan of hank paulson, you know my theory on t.a.r.p., they stole money from the american taxpayer between bernanke and paulson, paulson forced the president to do this, it never should have happened. let me ask this question, say b of a had collapsed, say merrill lynch collapsed, i say so what? so what? what would have happened -- >> so irresponsible, greg knapp, we saw what happened when lehman collapse, i don't think i wanted to see any other big banks collapse. >> i don't want

what's good for hank paulson. >> and i want -- i'll come back for a hank paulson conversation, not becausethe american democracy has broken down to the point that whether it's hank paulson, dick cheney, taxpayer bailouts of aig, whatever it is, that the process by which we are making the decision to torture, the decision -- i don't care about what the decisions are, but the mechanism by which we are making decisions in this country with american resources behind closed doors in private meetings and then we find out after the fact about whether it's waterboarding or with a bank or whatever it is, and i'm trying to figure out what the american voter, what the american journalist, and what we should be expecting of our congress to improve the congressional system so that this stops happening across the board. >> you are absolutely right. one of the best examples of that is the trillion dollar secret bailout issued by the federal reserve since last september. that's $3,000 for every man, woman, and child in america, and they won't tell me or any other member of congress who got the money. >> i

and later, maria bart rohmo's exclusive interview with hank greenberg. coming up, did his outlook on the economy d the significance his legal win against aig. we'll be right back. bl >>> apartment vacancy rates hitting a 22-year high in the second quarter according to real estate research firm reese. apartment vacancies rising to 7.5%, nearly 1 1/2 points higher than a year ago because rising unemployment is reducing demand during the peak leasing season. rents falling the fastest in markets which have cut white-collar jobs, no surprise. such as new york and san jose. and the markets where a lot of foreclosed homes and condos have been turned into rental properties including las vegas and orange county. but the troubling news for the housing market doesn't stop there. the fbi says mortgage fraud is rampant and getting bigger every day. cnbc's diana olick is in washington with all those details. diana? >> reporter: in addition to that, melissa, just a few hours ago the manhattan district attorney announced indictments against 13 people in a $100 million-p

now, the treasury secretary, again hank paulson, remember, goldman sachs' c.e.o., he decides he needs somebody to head up tarp, you know, somebody to make sure he can figure it out. who do i know, who i do know? there is this guy at goldman sachs, neel kashkari, he decides he will be appointed to oversee tarp. he changes -- one of the first things he does is goldman sachs has to be changed to a bank holding company. why? well, you know, that way they can have access to tarp, fdic money, get money from the fed in the discount window. that way, they can be saved. right. right. so kashkari, after he makes this decision, he's out. i mean, he's still in the system. he's out. he has been replaced now by gary gensler. what a surprise! gary is the former partner at goldman sachs. now, once kashkari has made goldman sachs a bank holding company, they don't have that pesky s.e.c. thing, you know, to look them over. instead, no, no, no, they have a guy named steven friedman. he was the former chairman of goldman sachs. now overseeing them, because

here's what hank paulson said. we don't have it? sore.at he said was and i believe i have it, but it was along the lines had i made the call from my living room and the questioner said there was no one else in the room and he said it does appear that we are focused and are these kwar questions that we should focus on that? >> the purpose of that question is to find out if he was telling the truth. what does the secretary and he did believe that the entire financial system is at risk. at this point you have a heart to heart conversation with whoever it is. i don't know about the legalities, but that game was being played and no one would have any doubt about it. i call it a threat. if someone call skmeed said you have a way to lose your job if you don't go along with it, i don't know how anybody would report it. interpret it. i want to bring in jim cramer and when this interchange happened between paul and marcie from ohio on the interest create of the tarp poen and i wanted to get you in because you know more about this than anyone else a

hank paulson is taking the oath and i believe he's about to begin.here for just a moment. yeah. here he goes. let's listen. >> ranking member issa and distinguished members of the committee, i served as secretary of the treasury from july 2006 to january 2009. during my tenure, the world experienced a financial crisis unprecedented in our lifetimes. the crisis presented a relentless series of novel challenges that required swift, innovative and dramatic responses. had the crisis of 2008 been left to unfold without strong federal reaction and intervention, the world of 2009 would look very different from the world we live in today. many more americans would be out their homes, their jobs, their businesses, their savings, their way of lives. the crisis of confidence last fall threatened to disrupt or entire financial system, not just the institutions that had high credit losses on their mortgage investments, but all financial firms, whether weak or solvent. as liquidity dried up, the continues collapse of financial institutions that provide credit and

hank paulson puts it to bed and said i told him i would fire him. he would be out of a job. that's it. the fed could do it if he didn't do the deal. the question i have is now you're ken lewis. don't you have a conflict of interest, because you're told if you don't do something you don't want to do, you're going to lose your job. you're ken lewis, darned if you do or darned if you don't. >> or were you negotiating for a better deal. or can you say, okay, i did what they want me to do, now it's important that i stay and run this thing. >> and ken lewis was exaggerating and using hyperbole and not telling the truth. >> hyperbole, you're kidding me. i just want to drill down, because i don't understand this issue of disclosure to the shareholders. i want to get your views on this. to me, it was an orderly process. i'm not sure what it is.g these congressmen wanted lewis to do. first they were trying toe attack paulson. that didn't work, because paulson basically said you're darn right i put the wood to him and i was right to do so. so now they're going back and attacking lewis

a jury nonow didi with hank eeeenbg finding h h not liable rr breach o of trust or coconvsion of the money to ares. the e jue e stl h to issue a fil decision. thcocompy says itt i disappointed. but for now majoricicto in only an incremental victory for hank greenberer >> thanks very mucuch, otott. we'll contininue f flowing th. a victory f h hangreenberg for susure up next a cnbc exclusive inteteieiew with devry. how presidenenobama's plan to tataxoverseas profitss wi i iat his mpmpy and wt dodo about theducation iues in this cocouny.y. back in a momome.. mr. evans?s? ts s janice from ononst.. you've b beeinin aront-end crash. . y youeed help? yeah. i'll contact ememergcycy services and statawiwithou. you okay?? onstar. stananrdrd f one year on 14 chevy m mods.s. >>>lolosi b bel realtimeme flas. 30 minutes to go in thehe sess. i got o o to t te a peek at. chececk t t mil. poppeped on my radar screen bebeususe crcrosdd the x volume level. moving 1.5%. if you look at thevolume,1.1.3 million so far mororththan doub what itoeoes on the average.e. the headlines totoy,y,othing goinggon the

hank, what do you think about that? >> not such great news, but frankly, it's early in the term and midterm elections are a year and change away. when the people see something happen in the economy that seems to move a little bit better, those numbers are going to go up. and it's about the economy. nothing much has changed since then. >> general powell's comments on this subject kind of got overshadowed by sarah palin's surprise announcement. he was concerned that the president had too much plate at one time. >> colin powell? >> yes. and i think lots of people are starting to agree with him. >> i agree he has too much on his plate, mostly he's been overambitious, trying to remake the health care system and global warming and all this other stuff when there's an economic crisis to deal with. but i wouldn't make too much of these polls. his numbers were very high when he came in. they were going to come down, simply the law of gravity. i think these numbers are probably pretty normal for a president at this point in his t

>>hank you. >>> this week washington, the obama administrion highlighd the gre importce of the u.s. relationip with china. especially economic matters. chinais, after all the biggest lender to the united states economy but while 200 cinese economic officis were in washgton, chinese authoties continue to crackdown on human rights groups back me. in one move, a prominentlegal scholar was taken in custody, and he hasn't been herd from since. and it didn't stop there, ase hear from melissa chanf al jazra english. >> reporterthe center isn organation that helps people fig discrimination in china. its operated for yea. but wedneay on, the thorities showed up, unannounced, to collect evidence and investigate suppos illegal activities the problem? the publition of th oice's newslter. it has apparently not ben cleared by the government. >> translator: i suspect our andiscrimination activities have ofended many people including g erations, common officis and wealthy businessmen. >> reporter: it's e latest blowo the handful of organizatio in cha that push for soci change and justice. here at t

when it was obvious they were coming to get him police say hank turned the gun on himself. >> the son came out and then they dragged the body of the man out. >> reporter: 14-year-old garrett johnson and his cousin chris saw the entire ordeal from just feet away. >> the cops breaking the doors in. the german shepherds go in. guy yelling. everything. everybody was standing back wondering what was happening. >> how close were you? >> i'd say 100 feet. >> reporter: police reported he had died but paramedics stabilized the man. fairfax police are confirming last night's shooting was precipitated by a domestic argument over who would get custody of their 8-year-old son. tonight that 8-year-old boy, both his parents are in critical condition at the hospital. andrew stack, 9news now and wusa9.com. >> thank you. >>> another developing story that broke during rush hour. this one began with police pulling over a man who turned out to be armed and dangerous. this all happened at the intersection of new jersey avenue and c streets nortwe st just blocks fr omthe u.s. capital and union station. brit

now to work very closely with hank paulson on the design of the t.a.r.p.of the financial crisis as they played it out last fall. i'm not sure they're too interested in excavating for too very long on that subject. >> you know, but, john, you make an interesting point with this letter that was sent to the president last week. this b of a/merrill deal, even if it isn't the most important situation that the nation faces, has become a part of the political football, part of the political game. right now that's being played over the fed. these lawmakers said the fed shouldn't get additional powers in the financial regulatory reform until everybody gets to the bottom of the b of a/merrill deal. it's very much a part of the mix. there are a lot of questions hanging over the fed right now. how its powers and responsibilities are going to be altered by the regulatory reform and other aspects of review of the financial crisis. >> hey, jon, it's matt nesto. we come in for a headline surprise with the plain vanilli headline cpi number wednesday because of the oil pric

paulson believed they must go through the deal with ken lewis and hank paulson wanted to back out of the deal. >> was he right. >> he put the wood to lewis. at that moment he was right. >> he did not at the time have any firm agreement with the government. his decision was reached against a backdrop of public commitment undertaken by chairman bernanke and me dating back to at least october 14th, 2008, that the government would act to prevent the failure of any systemically important financial institution. i believe that they have come to the conclusion, prodded by sheila bair cit is not a systemically important financial institution. >> i agree with it but would like to let them down a little easier. we appreciate the point. if you have anything new coming up, give us a yell, our phone wires always open. >>> when we come back, i'll explore the rally some more and get reaction to this cit story, is that 99 the ointment, i want to look at tech stock out look and bank symptom outlook. i want to talk about china that may be the in visible hand in this stock market rally driving up commod

tomorrow on "squawk box." >>> hank paulson is on his way to capitol hill today. he'll be testifying on the government's role in last year's bank of america/merrill lynch deal. in written testimony for the house hearing, paulson argues he was justified in suggesting the bank of america ceo could lose its job if the bank backed out of plans to buy merrill. we'll be joined live at 8:00 a.m. eastern time, just over half hour away with ed towns. >>> when we come back this morning, we'll get a look at top stories moving markets, including the latest on cit. two market experts will give us their views of earning season and whether cit will have widespread consequences. taking its rightful place in a long line of amazing performance machines. this is the new e-coupe. this is mercedes-benz. >>> welcome back to "squawk box." we're going to take a look at the markets which have been fluctuating. you saw some downside because of the major gains we saw yesterday. dow up 3% yesterday. right now you see the futures are still under a little pressure. dow futures down by 21 point

courtney hazlett,hanks so much. go get breat. >> reporter: thank you >>> for more on howhe jackson family is coping since the sudden death, i lked to reverend al sharpton ts morning. >> yeah absolutely, heartbroke but strong. i visited with mr. and mrs. jackson again on yesterday. at the cpod in encino, talked to several of the brothers. and i think that they're determinto moverward to tuesdas memorial toeally ise the real historic contribution that miael made and to give h the kindf dignitand the kind of respect that he deserves. >>> epit right here forpecial live cerage of michael jackson's memorl service. it will be all day tueay on msnbc. >>> it was a test of couge, and thensome, a tightrope walker g for a death-defying walk. but was it his last evening stroll? that is coming up. > and it's the freeway to holiday lebrations, butre americans keeping to the fourth of july traveling tradion? [ door clos s ] [ footsteps ] [ man sighs ] whew! lot goes through your mimind after an acciden but with liberty mua insuranc

i am giving hank paulson the very first cud loy award for financial and economic bravery. here it is, get a good look at this. bring this camera in for mr. paulson's award. let me tell you why. this whole business, did you put a gun to ken lewis' head for the deal?? he said to these guy, straight up, the kind of guy he is, yeah, i put the wood to lewis and paulson was right to do it, he didn't flinch or back off. all these "politico"s are looking for a smoking gun. i don't really understand it. like looking for a needle in a haystack f. these "politico"s found a needle, it would be so rusted and useless at this point in time, they would throw in the towel. here's how goofy they are, half of these guys want to defend ken lou wins and half want to fire ken lewis, they can't make up their minds they're desperately looking for stuff. reality is paulson working with bernanke and sheila bair at the fdic and yes, tim geithner at the new york fed and yes, president george w. bush who supported all this, they did what they could at a time of great peril, when the entire financial s

i feel sorry for hank paulson. i've covered him for years.s been quoted in some deposition that he had -- basically hates my guts. but i'm going to stand up for him and say this, that, you know, if you're a hank paulson and ben bernanke, you get that call in mid-december from ken lewis, like, listen, i want to unwind this deal and use the mac laws, which is rarely used. in terms of natural disasters. it's not used -- >> this would have been one, though, charley. >> oh, come on. come on. >> unless you could prove and talk to some lawyers about this that he -- remember, he did due diligence. he didn't know what was on the merils books? >> got to go. >> citigroup talk, jpmorgan, goldman sachs. those are the three names. >> i don't trade anything. >> we will talk to you soon. the oracle of the bronx. thank you very much. >>> coming up next, sayonara, japan. a new country now holds the number two spot in the rankings of the world's largest stock markets. we will tell you which country is it and how to trade t yeah, my buddy's got all that. ouch. w

>> very simply, bud selig worships hank aaron, he's one of his best friends. and hank aaron said publicly the other day here, it's time pete should be in the hall of fame. take that for what it's worth, howard. >> keith olbermann, working even while he's on vacation. enjoy the rest of your final off. >> thank you, sir. thank you for filling in. >> thank you. it's harder than it looks. >>> that will do it for tuesday's edition of "countdown." i'm governor howard dean. and a quick reminder, in minutes you will find me on the world wide web talking with you about health care. go to progressivebookclub.com to join the conversation. i will see you back here tomorrow. >>> up next on msnbc, "the rachel maddow show." good evening, rachel. >> good evening, governor dean. you made it look very, very easy. thank you so much. great to see you. >> i don't know what you guys get paid, but you more than earn your money. >> thanks, gov. we will see you tomorrow. >> yep. >>> and thank you for at home for staying with us the next hour. today a new conspiracy theory got its wing

call it the "e" victory for hank.tar international does not have to pay back aig for $4.3 billion in shares taken from the firm's retirement fund. standing by with the former aig ceo in a cnbc exclusive interview maria. >> thanks very much. i am indeed with hank greenburg, chair manned and ceo right off this victory. hank, great to have you on the program. >> good to be with you. >> you just came off of this trial. you testified for seven days, is that right? >> that's right. >> how was that? that must have been a physical test for you as well. >> it was grueling. it was gruling. >> can you tell us about it? >> well, you know, you're -- you're under pressure all day long. and but, you know, you have to do it. and i'm glad i did. i think it helped create what the facts really are. >> obviously you're feeling good about this ruling by the jury. tell me really what the critical piece of evidence you think was that turned them, that made them come up with the idea that, in fact, you don't have to give aig this stock or th

you about it and on hall of fame weekend we'll hear from the inductees as well as ozzie smith and hank on >> theth wnba all-star game all kinds of former uconn stars back in the alumni state includi incs who dropped 22 points and silvia fowles wanted a highlight all to herself. >> there it is! silvia fowles throws it down. >> working it out. this did not help the east cause our. they got trounced 130-118. snapping they're two-game win streak and the west has now won seven of the ten. now meanwhile i mentioned that cash the mvp of the all-star game and the record. the record was originally set by nico nicole powel and she stole the recognition away from her. >> right on back. sprint cup qualifying at indy. rain swept over in the motor speedway delaying qualifying for three hours and mark martin, most sprint cup series wins there year with four and posted a lap of 182.054 miles an hour and dale earnhardt jr. says he will race sunday and juan pablo montoya had the second lap but mark martin takes the pole and prior to this year he hadn't won a pole since 2001 and the others start being ne

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that we -- i believe quite strongly that if we, if -- if tim geithner, ben bernanke and hank paulson had found something legal we could have done to save lehman, we would have. and let me explain the difference. the -- in lehman brothers, there was a liquidity problem, and a capital problem. and we were unable to find any buyer to come in and make the acquisition on an assisted basis or an unassisted basis. and so although the fed was able to loan against lehman collateral and did loan to help facilitate liquidation and bankruptcy, a fed loan would not have saved lehman brothers. in the case of bear stearns, we had a buyer, jpmorgan, and jpmorgan then -- the fed was able to make a loan to assist that acquisition. bear stearns was a liquidity problem and a capital problem, and jpmorgan took care of the capital problem. they were able to -- to guarantee the trading book while the merger was being voted on. aig was a different situation, because in aig, the perception at the time was, this is a liquidity problem only, because we had -- they had a number of stable regulated insurance com

hank, hang on to that thought. we'll come back to you. >> just a bit.stephen gallo will still be with us, head of market analy s analysis, snyder foreign exchange. let's head over to tokyo and get an update on the trading day. >> hi there, christine. tokyo stocks ended marginally higher. the nikkei 225 rose in the morning, boosted by better than expected u.s. corporate earnings. but the lack of queues and uncertainty in economic recovery ahead weighed on the index. strong concerns for intel rose. ibiden rose more than 4%. elpida memory rose nearly 5%. but both shares later declined as investors sold off the stock. investors welcomed announcements from nippon steel that will be restarting one of two furnaces that have been off since february. shares climb up to 3% during the morning session. real estate fared worse after the new condominiums being put on the market rose to 26% in the first half of 2008. mitsubishi estate dropped more than 2%. meantime, politics appear to be gaining sway in the market. investors seem to expect consumer finance regulations

hank snow wrote the song, and he lived it. i've been everywhere. and he has.en all over major league baseball. >> buck: the chance to come back. that ball is twisting on other

the new york daily news reports some behind the scenes lobbying from hank aaron and joe robinson has selig considering lifting the life-time suspension. >>> to new york where the mets are showing competitive fire. new york rallied, scoring six straight, including a grand slam in the eighth. the mets won it 7-3. they've won three in a roach. >>> what a night for josh willingham for the nationals. not only did he hit one grand slam but twice. the odds are rare. only the 13th player in history to accomplish such a feat. he finished with eight rbis. milwaukee lost to washington, 14-6. >>> cubs hosting the astros. tied at one in the 13th. soriano at the plate. walk-off grand slam to end it. the crowd, ecstatic. why not? the cubs won it 5-1. afterwards, soriano received the good old shaving cream in the face. that's your early look at sports on "early today." >>> engine trouble for katie holmes and jessica simpson can't get passed the gate. your early morning entertainment headlines straight ahead. >>> plus, get ready to say, w x as we bring you a trio of baby tigers from the wild plains o

ex ceo of aig hank greenburg getting a jury verdict in his verdict.uptcy judge late tuesday ruling a group who claimed they were injured as a result of defective g.m. products may not appeal directly to g.m.'s asset sale. and google is getting into the operating system business for pcs which will sharpen the already intense competition between google and microsoft. and let's wrap up on this story, clueless thieves bypassed real cell phones and cash when they broke into a cell phone store in marania, mexico. apparently employees say they took replica phones rather than the real things. that's a pretty dumb way of going about trying to make money in this current environment. back to you, christina. >> all right. thanks so much, geoff. >>> manny gets the thumb. the rays get a walkoff and lance gets second place. >>> plus, a little creativity in the beautiful game. your early morning sports headlines are separate ahead. >>> hey, coming up, we'll have a look at the second half of your week. you're watching "early today." >>> good morning. if you're just wa

hall of famer hank aaron says he thinks rose belongs in the hall. it's believes the commissioner will consider a pardon. but faye vincent says that scenario is unlikely. very controversial subject. >> you'll be on the radio tomorrow morning. >> that and football, yes. >>> homeward bound. ♪ ♪ tell me who's watching. (announcer) it's right here. it's easy. >>> gi joe hits the big screen with a premier. fireworks in tokyo as the cast was mobbed by thousands. most of the fans were there for korean actor hung. it opens in the united states on august 17th. >>> a texas canine shows some amazing survival skills, daisy ran away from a boarding kennel ten months ago. flier and posters were put up. then last week, she was spotted in a wooded area near the kennel. she came running back to the owners. avitene months on her own -- after ten months on her own, she is back. >>> well, actor eric bana. i'm vic carter. >> and i'm denise koch. thanks for watching. have a good night. ( band playing "late show" theme ) >> from new york, the greatest city in the world, it

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he got there faster than babe ruth, hank aaron, and everybody else.ty good start to the second half of the season. lance armstrong's hopes rid eon his climb tomorrow. where else would you find a mountain named that? he has managed to hang onto third place. three days of flat terrain have put them out on strength. he had to deal with a tire punctured on his bicycle. he probably feels lucky just to hit the mountains. try the new subway big chipotle cheesesteak. an updated all-time favorite: juicy steak layered with zesty chipotle sauce, melted cheese, piled high with only... the toppings you love on freshly baked bread. only at subway. subway. eat fresh. >> not quite as hot more of but a thunderstorm in a few spots. comfortable for saturday and sunday. >> thank you for joining us. we will see you back here tomorrow night. [ cheers and applause ]

. >> h jeff,hank you. >> jeff: fir give us your sense of the mket today, the dow up 50-plus. >> earer in the week the s&p was down and we tnk it got angst out of the way so what he we witnessed was a reef trade because earnin are coming in bets than feared and the market's appease with his send quarter repor and the guidance is sen percent below the year ago perio intel is still not operating ia normal environment ands ty a bit daunting to us given we' 18 months into the recession so we wouldn't get carried away with what we'reeeing so far. >> >> so be patient. you still haveto wait around a bit. >> given t run we've h off the march, yes, we would agree with that. >> jeff: you write the baain huntincolumn for brfing.com. at's your comments on howou defi a bargain. >> to stt from from a top-down prespective and looking the broade economy and based on where we think the economy is heading breakingown to industry gups and one of the value-oriented metrics is the ice to earnings growth ratio thpe divided by the gwth rate. >> jeff: what's yourhought here as far as iyou had to pick one bgai

backing martina up is the hank lane orchestra.ver here this beautiful cake designed by nine cakes. and this is betsy and it is a chocolate on chocolate with a fluer de del. as you saw, al mentioned each of the guests are going to be receiving one of these, the flip hd, a fantastic camera. you plug it right into your computer and download your video. now walk with me back here in the kitchen and we have the executive chef chris hartness getting our entrees ready. >> sure. >> how is it going? are you ready? >> fantastic. >> you have to make 180 entrees? >> yes. >> what are you serving us? >> a tomato turrine with a crab vinaigrette. our two entrees are herb seared filet mignon, with potato gnocchi, baby mushrooms. and then our fish for today is roasted monkfish over sweet pea risotto with a preserved tomato jam. >> now i mentioned what's really important to you here is the sustainability, and all of this, and sort of that green theme. and all of this really comes within you call it your 100 mile menu. >> we do. what's really great i

>>hanks for your reporting tonight. let's turn now to someone who knows sarah palin well. decratic alaska senator hollis french. senator french, thank you for yourime tonight. >> nice to be here, alison. just a basic question. were there any rumbles on the grown that this was in e pipeli, pardon the pun? >> lutely not. you know, pnerhaps the coention wisdom leading up to last friday was that she would not run for re-ection. st thought she wou decide step down an theened end of h term to prepare r a national race but i don't think u could have would have guessedshe would quit midterm >> there appear to be two camps on this event. there's governor palin is crificing her office for the state. she was adistraction, now she can get of the wa and alaska can bon the move, aska politics. and then there's the sarah palin bailed on us camp. wherdoou stand? >> i don't think youan find a single historical precedent there's a sacrice involved. and quting your job halfway through it, she signed a contct with the peoe of the state of action oolaska. she pred to serve a four-year rm. unle

hank you for joining us tonight. there e some in a things that wal-mart is looking forward to doing, likeelping ople live better, but moly building içó)ong committeesnd relationships. with your help, e best is yet toome. >> nationwidensurance proudly supports "tavis smiley. Ñitis and nationwide, working together to impve financial literacand the economic empowerment thacomes with it. >>♪ nationwide on your side ♪ >> and by contributions to your pbs station froviewers like you. thankou. captioning made possible by kcet public tevision] tavis: i am lghing already. look who isere. loowho is re, traceyllman is ck on therogram. e seven-time emmy-winnin actrs and comedian is back wita new set of episodes of proclaimed andruly hilaris sers, "tracey ullman's state of the union," wch ai this sday nights at 10:00 on showtime. >> sisters, let's pr. degod,re husband and a profit was arrested this morning for consummation with twee. we pray that hemakes bail. we're just for humblwoman who between us have gin birth to five and 17

it is something one of hank's closest friends is grappling with. the 8-year-old has to see his own father turn the gun on himself. >> talking about an 8-year-old child to see that. the mother in the condition she is in. to lose his father altogether. even somebody as tough as me, i have a heart. so it hurts. >> reporter: the violence began thursday night. police say a fight over hank and his ex-girlfriend's 8-year- old son spilled out into the street on fisher off root 7. he shot the mother of the child and holed up in the house. police say one of the reasons this took so long was because innocent victims were involved especially with a child inside that home. >> wasn't just the suspect, just this man we were dealing with. we take great care to protect our victims and witnesses. >> reporter: the s.w.a.t. team stormed the house right after communication broke and vallentini shot himself. this was not a hostage situation. the woman came out in handcuffs and the boy both unharmed. >> he basically loved him a lot. and she tried to do everything she cou

to detroit, this is hank, an independent. caller: i studied the president's proposal and all the other proposals. i looked at the tactics that these ultra right wing business on wall street and business people have. it is the same old thing. i think we need to get behind this president. he is sincere. he has the qualified people around him. he is doing the right thing. he is asking for our help. host: we remind all callers to give you 30 days between calls. wal-mart endorsed the idea of using large companies to offer insurance to their employees. this is omaha, next, at all on our democrat line. caller: the president is doing a magnificent. -- a magnificent job. why do not they address the subject of the hospital's charging such exorbitant prices for our madison got mad -- are madison got a hospital. -- our medicine got a hospital. host: what were you an awful for? caller: -- what were you in the hospital for? caller: i was in for blood pressure and then i was in for a back procedure because of the spinal fracture in the back

>>hanks f having me.viously, many the lt,t, particulular t tho left ogogrs, ececsticic aut the possibility here,bubut how d do this play out again, as wee p t ou w wh the president's wiwies? >> ththiss something tt the presesenent s said on a numbere of occasions t th he does not want. esisted caallsararer this year for aruth commission loloining tois, much to t chagrin n his rerepoerers, particulararly oththlt.t. and he's al said a nuererf times thatat he wants too ok rward andot backward. it remains t to b seenen, sort h howe'll handle thihis ltetes ththg, buthat said, y y k kno withth theprident's numbers the waway ey are and his pol numbers sortrt odrdropng a t,t, maybybe he wantsn investigigioi into theuu adminisistrioion. maybe he wants something g th llll remind eveonon sort of w wy he n in theheirirstplace. dd to bring this backk u up to sort of remind e eryrybo what the alternative was befofore h got elected toto office. w wel that's aninteresting thought. let me ask you abt the titite goal herer

. >>> hank the hero, former treasury secretary henry paulson testifies before congress.aulson been unfairly vilified in the aftermath of the meltdown? i say this story is understood play -- underplayed. i think congress ought to apologize for beating the daylights out of im saying you were right. even obama is only buying $30 billion worth. >> there are a couple stories. hank paulson is the guy who thought he could solve the economic crisis with a three-pager calling for $700 billion in buying toxic assets. this is not some genius guru that saved us from armageddon. >> actually, you are entirely wrong. how can someone i like so much be so wrong. dana, this guy did save the entire system from economic collapse. >> i'm sorry. to the extent paulson is getting any credit, it's overplayed, like giving rumsfeld war hero status for iraq. >> how can you say that? he didn't get us in this mess? >> i sat in a hearing with him in early 2008, there's no problem in the mortgage markets, economy is coming along, the market will take care of itself. >> except for a couple of bears alwa

hank plson was back in the spotlight onapitol hill today, but it wast the kind of homecoming he expected. testifying bore a house committee, the formetreasury secrary was grilled on his role ibank of america's controrsial purchase of merrill lynch. facing harsh accations from lawmakers, pauon defended his decisions anactions in the deal. in the pt month, fed chairman ben bernanke and bk of america ceken lewis also faced tough questiing from this committee. but as dana bateeports lawmakers e still looking for answers. >> reporter: former easury secretary henry pauln may be out of t office, but he's still unr the gun. lawmakers slmed the treasury's handling of the nk of america deal-- saying paulsobullied ecutives into completing the purchase of merrillynch. but pauln gave little ground as he defended the pressure put on bank of ameri c.e.o. ken lewis. >> i was attempting send a very strong message toen lewis inerms of how strongly the fed and easury viewed this matter. >> reporte they viewed it stronglyecause they worried a cancelled deal would throw the markets in turmoil. significant lo

hanks, c crse, i don't neneedo say it. you already kw.w. $3$35 bibilln? isis h been the number for the ththreyeyearote auctions and in abt 60 minutetese'll havehe results. does anybodody expect this not go well? not manyny traders i talked .. erere'a lot of thehem comomin forward. mamae e tomorrow's tens anand 3 might be more interesting. let's go b bac tosue. believe some b breininnews. dedeed 're going to goo to sharon for the eaeaki nss down in newew york. >> the energy department leleed its short-term enerergy outlook and d eyey he raised theieir ouooook for00009 world l demandnd they're sing it upp by 170,000 barrels a y, closeo 84 million b brels and t therere raraisg theorecast and raising their 202009 otput forececas for opec toto 28.63ililon barrels perr day. they continunuetoto raise thr outlook here for dedema.. a betttt demand tlook inn june. that was the f fir time ty raised in tltlk since septptbeber. the idea being t tt by thee e e ofofhehe year, 're going t to pick up in demand. abebeer tltloo there.. there e we a a number of ananal inin

. >> ervand abrahamian,hank you very mh. >>> iran and russ are in the mid of thr firstoint name military exercises. ships and helicopters are acticing of what iran calls a maritime exercise exerci in the caspian sea. a lak stretching between russia and northern iran. experts say the cspian sea exercises icheganyesterday may rk a newlevel of cooperation beeen the two countrs at a time when the united states is tryi to isolate ir from its pursuiof nuclear weapon >>> there was new unrest today in southrica. poli there used tearas and rubber bullets to battle demonstrator protesting poor pulic services. violentdemonstrations have flared up all over the cuntry dung the past two months and as we hear now from al jazeera english the roots ofthat violence gback many years. when the government began promising help for the poorst communits. >> reporter: hnting for troublemakers onfoot, dep inde the township. ots are fired ofhe suspects as police continue tir sweep. it amenacing reminder resints that all is not well where they live. >> guys are throwing stones a making fire. and when close to you t

. >> susie: a big viory for hank greenberg todaas he won a rounin court against a.i.g., the giant insurae firm he once heed. a federal jury imanhattan says a company controlledy greenbg can keep more than $4 billion in stockaken from an a.i. fund meant for his retirement. a.i.g. claim greenberg improply took the stock, then sold it because he wasngry at being booted frothe firm. there are stilother issues to be decided in this case, a a judge won't issue a finaruling until the end ofugust. >> jeff: decliningrices for oil and metals in e commodity rkets put wall street in a selling mood. the dow stair-stepped lor from the openinbell. the biggeslosers were the materials and heavy-equipmen companies, like 3m and caterpillar. g.e. shares fell 4%, and t punishment in blue-chip d tech shares contied straight into e closing bell. the dow ended off 161.27 at 8,163.60. the nasdaq fell 41.23 pots to 1,746.17. the s&p 500 finished dow17.69 points at 881.03. the bond market saw so flight- to-safetbuying from the equity sell-off. e ten-year note climbed 15/3 to 97 9/32, puttg the yield at 3.45%. >> su

bipartisan beating of former treasury secretary hank paulson on capitol hill.thompson is here with the latest. i was watching it, mary and certainly he was on the defensive. >> that's right. he was taking the charges from both sides of the aisle about his actions last year, actions that paulson called abhorrent given his belief in the capital market system here in the u.s. but he said the consequences would have been much worse if those actions weren't taken.n. >> our responses were not perfect. but i am confident that they were substantially correct and that they saved this nation from great peril. >> paulson said preventing great financial upheaval at the time required that bank of america complete its deal to buy merrill lynch even as merrill's losses were mounting. paulson also acknowledged he told bank of america ceo ken lewis as his regulator the fed could fire him if bank of america backed out of the deal. >> i was attempting to send a very strong message to ken lewis in terms of how strongly the fed and treasury viewed this matter. >> but it wasn't just

>>hank you. my guest this evening: congressman george mler. >> jeff: stos jumped to nine- month highs thanks to the last jobs data, song results from stercard and an upgrade of g while new weekly jobless befit claims rose ightly, the number ofeople filing for an extension of benefits fello a three-month w. that helped the dow rally to 170 point gain ithe first 90 minus of trading. while the mark remained higher through the afternoo some late-profitaking trimmed the gains. >> breaking news frothe department otransportation, ter less than aeek of its crash forlunker's program, it's being suspended. got officials believthe billion dollars seaside for th program h already run out. cashor clunkersad offered up t $00 for consumers whocrap oldas guzzlers formore fuel efficient cars and trucks. >> suzannemastercard reported better than expected quartly profits today it cut expenses d raised fees charged to banks. still, the world'second largest crit card processor said the dnturn in consumer ending would

>>hank you. >> my gues tonight, dan mica, e.o. of the credit uon nationalssociation. >> susie: itissed the credit isis, and the bernard madoff ponzi scheme. some say more money wod solve the probm; others say the agency just needs to think smarter. but as darn gersh reports, airman mary schapiro says th s.e.c. is improving the wait does business. >> reporr: to many members of congress, the securities and exchge commission is almost a troubled teenage after each bad rort card, it offers a long list of cuses. day, congressman scott garre askes.e.c. chairman mary schapiro why investors suld believe is time will be different. >> it ems like the s.e.c. is always cominin after the fact to the table, alys a different chairm, saying, "we realized our errors and now we' going tory to correct them." reporter: in response, schapiro offered long list of coections. the s.e.c. is focusing enforcement on what it cls "high impact cas" that could hurthe most investors; it's increasintraining for emplees; and hiring more expericed market ofessional