is a greek swimming champion, let's just get the thoughts of the bbc's olympic correspondent, james pierceo's been watching all of this with me, and in terms of the words we've heard, james, from the v.i.p.'s and the speeches, we're certainly getting lots of sentiment about the olympic ideals, about people coming together through sport. of course, that is the essence of it, isn't it? >> there is no doubt this is a very big moment. it's really easy to be cynical. everybody is an actor or actress and they're not doing it for real, but at the heart of it is an important message, a symbol of fellowship and peace, in the words of the i.o.c. president. but this is for those in the audience, who have been on a 10-year journey, that's how long it is, and we're first going to see it. now for the first time since 1948, they can see a london olympic flame burning again, and that's for them, of course, a very, very important day. >> yes, and jacques rogge making the point that, as he put it, london is ready for the third time. this is quite something. it is going to be the third time that the u.k. has

i was a young full employment liberal, one of our colleagues, james pierce, former federal reserve research director was a mainstream keynesian at the time. two other colleagues, robert hour back and robert wine trap were chicago monetaryists trained by william friedman. we compromised and gave tra transparency to the federal reserve in the presence of ultimate objectivity but did not impose anyone's theoretical views. had we done so, i fear the oversight process would have failed long ago, perhaps when mainstream academics adopted the concept of a natural rate of unemployment in the early 1980s, perhaps when the classical mon tarri tarrism, the relationship between money and prices fell apart shortly after that. instead, being flexible, it has survived 35 years even though theories have come and gone and and objective of monetary policy. it is the presence of the maximum employment objective, alongside price stability, in my view, gives the federal reserve leeway to pursue inflation targeting at some rate other than zero, forever it chooses to do that. similarly, if in some alternate unive

i was a young full employment liberal, one of our colleagues, james pierce, former federal reserve research director, was a mainstream keynesian at the time. who our colleagues were chicago monitorists trained by milton friedman. we promised on lang that gave clear reporting transparency and accountability requirements to the federal reserve in the presence of ultimate objectives but that did not impose anyone's theoretical views. had we done so, i fear the oversight process would have failed long ago, perhaps when man stream economics adopted the concept of a natural rate of unemployment in the early 1980s, perhaps when classical m monitorism fell apart. being flexible the process has survived for over 35 years even though the theories come and go. price is it built is written into current law of monetary poli policy. similarly if in some alternate universe the federal reserve were to pursue a full employment strategy at all costs, the presence of the price stability language would give you legitimate cause to question its policies and the reasoning behind it. having price stability alope

one of our colleagues james pierce, two other

paul pierce, blocked by lebron james. wade taking it down the court. and 2 of his 23 points there. the heat up by seven. eight minutes left in the fourth. rondo, one of three steals on the night. going the other way to get the bucket. a career high 44 points for him. and the celtics retake the lead by one. two minutes left. shane battier, three of his nine points. we're tied at 94-94. just over a minute left now. haslem, how about a jumper? the heat lead by four. 38 seconds left. duhon to ray allen. he's hit a couple of threes in his day. we're tied at 99-99. six seconds to go. heat with a chance to win it. lebron james, trying to be the hero. not so much. the game would go to overtime. under two minutes left in o.t. lebron james, finding haslem. exclamation mark. heat up by two. a minute left now. wade, driving. the circus shot and the foul. pierce would head to the locker room early, as the heat go on to win 115-111, to take a 2-0 series lead. >>> and don't forget, the eastern conference finals, on espn. it all starts at 7:30 p.m., with the kia nba countdown. and then, at 8:30, i

pierce get out. lebron james huge block. starting the fast break.at the other end. a classic tv highlight right there and 23 for wade. miami by three. 30 seconds left. allen. we're tied. lebron. this is for the win. and you settle for a fadeaway jump shot. lebron, no! on to overtime. rondo deep two. played all 53 minutes. 44 points. 8 boards. 10 assists. nice passing, miami there. heat back on top and flash like only he finishes through the lane. 115-111. miami takes a 2-0 series lead,. >>> game one of the stan any cup finals also ended up in overtime. the kings and devils vying for lord stanley's cup. let's go get a snack. first period battle along the boards. jordan nolan to colin fraser. ricochets in front and gets past jonathan quick. tied at one. on to overtime. one on one with martin brodeur and schools the legend! 2-1 kings. and they take a 1-0 series lead. yesterday serena williams lost in the french open and today sister venus followed her to the exit. second round action. venus who came in unseeded barely played in over a year because she

james with 11 of miami's 21 points in the first quarter. celtics made it to the game. paul pierce three ball corner pocket, boston rallies to tie the game at the half. but that's as close as they would get simply too much lebron for the ageing celtics. finished with a game high 32 and 13 boards. miami opens the series with a 93-79 win. game two is tomorrow. baseball, yankees and angels tied in the ninth, a jumbo for trumbell. the wind blowing out of wrigley. four homers against the padres. snap a 12 game losing streak. cubs were hit about and the white sox chris sale was punching them out striking out 15 over seven and a third. he was the strikeout giant of a team record set all the way back in 1954. they beat the rays 2-1. finally yesterday was a memorial day that one family will never forget. the atlanta braves invited the family of master sergeant david sims to turner field. between innings they watched a recorded message from sims who was deployed in afghanistan. big set up. sims gave his family the shock of their lives by walking out of the stand. his wife and four kids immed

allen and pierce sought 6-25 -- shot 6-25 and it was down hill from there. lebron jamesade and let's go get the celtics. dwyane wade drive and layup. 22 points. and boy, when he hooks up with lebron james, forget about it. lebron james 32 points. heat win. and they lead the series 1-0. nba draft lottery will be wednesday. warriors, a bunch of guys trying out. these are draft hopefuls. none will be in the lottery, i can tell you that. we will focus on josh owens. out of stanford. a forward. 6'8". i play with james in the summer. i can play in the association. >> for me it is -- i played with guys in this league and played against lebron james. he is one of the best players in the league, knowing you stay on the court with him makes you feel good about your chances. >> the french open. give it to me. novak jokevic, this one would not last long. a straight set victory for him. roger federer also advances that french open. >> have a good night everybody on that.

recently a television i saw president obama and his family coming out of the same church james madison used to attend pierces through his wife he did attend church. when he was a young man he apparently was uncertain what he wanted to do for a career. so after he completed his graduate studies at prince and he stayed on as a graduate student for a year, where he studied among other things hebrew and the only practical application of hebrew for a protestant guys from orange county i think what has been to the time a minister. but apparently he decided at an early age he did not to be a minister to the next he turned to the idea he would become an attorney and a static which after a few weeks he described as exceedingly dry and i can say yes. it's exceedingly shy. he had absolutely nothing to do with drafting the declaration of independence because he was in virginia drafted the declaration of rights. these are done at the same time. thomas jefferson is now more famous for madison because he was the chief draftsman of the declaration of independence. one philadelphia was writing to williamsburg same please rel

james getting his dance on. that was before game one against the celtics. paul piercend dwyane wade sharing pregame pleasantries. first quarter, lebron with the steal, takes it the other way for the dunk. takes his time. he should. he's smooth. then mario chalmers off to lebron, this is smooth, as well. wow. second quarter, celtics coming back. paul pierce buries the three from the wings, celtics down two. more pierce. how about another three from the corner? game tied at 46. here we go. third quarter, tied at 50. shane battier with a block on rajon rondo. get that out of here. then chalmers feeds battier, lets him finish what he started. buries the three. heat up, 53-50. later in the third, wade grabs a rebound, chucks a full-court pass to lebron. that was sweet. another look. lebron with 32 points and 13 rebounds in this game. later in the third, more heat, battier, forcing a turnover, gets it to chalmers. miami led by as many as 17 points in this game. fourth quarter, wade, drives. 22 points in the game for him, the heat win it, 93-79, and the winner of game one in

recently a television i saw president obama and his family coming out of the same church james madison used to attend pierceshrough his wife he did attend church. when he was a young man he apparently was uncertain what he wanted to do for a career. so after he completed his graduate studies at prince and he stayed on as a graduate student for a year, where he studied among other things hebrew and the only practical application of hebrew for a protestant guys from orange county i think what has been to the time a minister. but apparently he decided at an early age he did not to be a minister to the next he turned to the idea he would become an attorney and a static which after a few weeks he described as exceedingly dry and i can say yes. it's exceedingly shy. he had absolutely nothing to do with drafting the declaration of independence because he was in virginia drafted the declaration of rights. these are done at the same time. thomas jefferson is now more famous for madison because he was the chief draftsman of the declaration of independence. one philadelphia was writing to williamsburg same please relea

james with 11 of miami's 21 points in the first quarter. celtics made it a game in the second. paul pierceket. boston rallies to tie the game at the half. but that's as close as they would get. simply too much lebron for the aging celtics. finished with a game-high 32 and 13 boards. miami opens the series with a 93-79 win. game two is tomorrow. >>> baseball, yankees and angels tied in the ninth. a jumbo for trumbull. a walk-off homer. halos win their seventh in a row. >>> to chicago, the wind blowing out at wrigley. good news for the cubbies. four homers against the padres. they snap an 11-game losing streak. >>> cubs were hitting them out and the white sox chris sail was punching them out. striking out 15 over 7 1/3. sail was a strikeout shy of a team record set all the way back in 1954. chi sox beat the raise, 2-1. >>> yesterday was a memorial day that one family will never forget. the atlanta braves invited the family of master sergeant david simms to turner field. between innings, they watched a recorded message from sims who was deployed in afghanistan. big setup. as sims gave his fam

recently a television i saw president obama and his family coming out of the same church james madison used to attend piercesrough his wife he did attend church. when he was a young man he apparently was uncertain what he wanted to do for a career. so after he completed his graduate studies at prince and he stayed on as a graduate student for a year, where he studied among other things hebrew and the only practical application of hebrew for a protestant guys from orange county i think what has been to the time a minister. but apparently he decided at an early age he did not to be a minister to the next he turned to the idea he would become an attorney and a static which after a few weeks he described as exceedingly dry and i can say yes. it's exceedingly shy. he had absolutely nothing to do with drafting the declaration of independence because he was in virginia drafted the declaration of rights. these are done at the same time. thomas jefferson is now more famous for madison because he was the chief draftsman of the declaration of independence. one philadelphia was writing to williamsburg same please releas

>>james: here is a big hue from the roof camera shot. piercingound this city puritan that's the way it is most in the area. and the take a closer look at what receiving a. right now receiving temperatures in the '60s and antioch is in the '70s. we're making great progress in getting toward our afternoon highs. we are looking for a possibility but afternoon at the nineties in some places around the bay. piquancy and noon and then at 3 can see the war intensified to read. those are the areas that would be in the 90 degree mark. that will be how temperatures will develop. we're looking for a 90 degree with the weather and are east bay valleys. most of the area will be in the upper 80s. of course closer to the the beach you again cut the '70s some low eighties in to marcia be warmer than today. and then starting off about wednesday the temperatures levelland in the mid to lower eighties. >>erica: term no hot spots. the ride is 15 minutes of oakland. roasting modern conditions and the east bay and the south bay. problem free along the peninsula and th

. >> there is lots of sunshine out there >>james: the fog is still in the north bay keeping things cooler. otherwise we are looking at a warm day. piercingthe fifties. haber 54 half moon bay 48 walnut creek 54. you get the idea, fifties. here is a wide view of the temperatures. you can see the lighter blue dominating the north bay. those temperatures are in the upper 40's and is where we are seen the concentration of the law. here the temperatures for the afternoon. in the east bay, if you close to to the water though the cooler for you. but in the ballets and will be near the 90 degree mark. some of the cisco will be about 72 degrees. -- seven to spell will be-- san francisco will be 72. and the rest of the area will be in the upper seventies lowercase. it will be cooler on wednesday and thursday and friday and no rain in the forecast. >>george: there are some unusual delays but not related to any incidents. heading into concord out of antioch is not uncommon to see slow traffic. in this spot here through the will pass it is unusual to see slow drive time. we're tracking this ride at of the coyote valley and the south bay highway 101 pi

james: here is a live look at the golden gate bridge where you can see an ice conditions out there. already there are low pockets of cloud cover. temperatures are beginning to warm. their upper 60s. piercingeared we're looking for a mix of upper 50s and 60s right now. the sunshine will keep as warming. the plan will be a factor. bill clinton will be a factor. he fell wind and whoopi a eighth factor. south bay as mid-70s as well. across the north bay europe you should be seeing 70 degree weather and the afternoon. let's take a look at this 7 day around the bay. temperatures will be cooling through friday and things will bounce back for this saturday sunday and monday >>erica: all other lanes are clear on the 11 set up good very seeing sluggish conditions in the bay bridge toll plaza. and of psychopathic coming from 80 ft. is coming moving well. and looks like traffic coming from 880 can running very smoothly. this is kron 4 morning news we will be right back. ♪ [ male announcer ] for our families... our neighbors... and our communities... america's beverage companies have created a wide range of new choices. developing smaller portion sizes and more low- & no-calorie beverages... adding cl

james schiro as the lead independent director earlier this year. the company is diving into social media. today it will be tweeting from the annual meeting. blankfein's tenure has been marked as the outperformance of its piercefaction. we'll have headlines later in the day. back to you guys. >> thank you. we have a quick moment to talk to sallie krawcheck, someone who probably dealt with individual investors as much as anyone, or at least you heard from your brokers about it. >> sure. >> i used to do that for a living and i remember i started like 1981 or '82. that came after 12 years of people being totally uninterested in the stock market and it set up a move from 800 to 10,000 in the averages. i feel like given what we had with the financial crisis, the flash crash and 9/11 and no real advance in the averages for a long time, the individual investor has to be totally disillusioned and now you have facebook. this didn't help the individual investor either. >> no. >> do you have anecdotal evidence for people just buying real estate or just saying i'm finished with -- >> real estate is hardly the place to be. >> where is it, though? >> a lot of people are in banks. look at deposits. you've seen money come ou

james buchanan's house are completely thrilled when you show up. >> exactly. >> the desk where a thousand indecisions were made. >> exactly. >> i don't think they train them in the subtleties in the anti-fluttering policy. [ laughter ] >> charlie pierce >> the crazy lady is going to win in nebraska -- >> which lady? >> deb fisher. >> oh, dear god. dear god. are they still going to be a factor in -- >> i mean, i'll -- >> they are trying to push the senate farther to the right. >> this woman was running third when i was out in nebraska a few weeks ago, and now it looks like she is going to win. if you are a republican now you can make any other republican look like a liberal just by going presto changeo. but that's more than you need to know about nebraska. >> it really is who is that wing nut. all right. 46 minutes after the hour. right back on the "stephanie miller show." >> that happened and we all let it happen. >> announcer: it's the "stephanie miller show." ♪ >>i think you know which one we're talking about. the overwhelming majority of the country says"tax the rich, don't go to war." >>just wanted to clarify that. (vo) don't miss your chance to catch the premiere of the gavin newsom show. with special guests: >> i'm lance armstr