jeff greenfield, cbs news, new york. >>> on a lighter note, what's up, doc? how about a birthday.bunny, the wise-cracking cartoon rabbit turns 70 years old today. the carrot chomping looney tunes staple made his starring debut in a short in 1940 called a wild hare. since then bugs has been in more than 100 cartoons and even a few hollywood movies. for many kids, though, he is simply the highlight of saturday morning cartoon watching. i know he was for me as a kid. >>> well, this morning on "the early show," julie chen takes on her dream job and goes to work at one of the world's best restaurants. i'm betty nguyen. this is the "cbs morning news." i'm from the gulf coast. my family spends a lot of time here. i have a personal interest in ensuring that we get this job done right. i'm keith seilhan. i'm in charge of bp's clean up on the gulf coast. bp's taken full responsibility for the clean up, and that includes keeping you informed. over 25,000 people are included in the clean up operation. our crews are cleaning the gulf beaches 24/7. we're going to be here as long as it takes to

reporter: yeah, in a word. >> couric: ( laughs ) okay, we needed a short answer, thanks very much, jeff greenfielde'll be right back. greenfield. we'll be right back. welcome to the world of lovaza, where nature meets science. if you have high cholesterol, high blood pressure or diabetes, you may also have very high triglycerides -- too much fat in the blood. it's a serious medical condition. lovaza, along with diet, effectively lowers very high triglycerides in adults but has not been shown to prevent heart attacks or strokes. lovaza starts with omega-3 fish oil that's then purified and concentrated. it's the only omega-3 medication that's fda-approved. you can't get it at a health food store. lovaza isn't right for everyone. tell your doctor if you're allergic to fish, have other medical conditions and about any medications you're taking, especially those that may increase risk of bleeding. blood tests are needed before and during treatment. in some, ldl or bad cholesterol may increase. possible side effects include burping, infection, flu-like symptoms, upset stomach, and change in sense of tas

jeff greenfield, cbs news, new york. >>> that's the "cbs morning news" for this thursday.r watching. hope you'll join us a little later for "the early show." i'm betty nguyen. later for "the early show." i'm betty nguyen. have a great day. -- captions by vitac -- www.vitac.com >>> your realtime captioner is linda marie macdonald. caption colorado, l.l.c. comments@captioncolorado.com >>> hey, good morning. it's thursday, the 22nd of july. >> good morning, everyone. wow, what a rude welcome for a couple of people flying into

jeff greenfield, jeff, thanks so much. overshadowed by all this is the financial reform bill the president signed into law today. it's designed to prevent another economic meltdown and the white house believes it's too important to fail. here's sheryl attkisson. >> reporter: the new law is 880 pages, packed with regulations and restrictions that touched on every facet of the economy. >> it's done. (cheers and applause) >> reporter: so how exactly does congress's creation solve the complex problems behind the financial storm? remember big banks took big risks, straying from the primary role of lending money. they delved into risky trading, relying on mortgages that became worthless, lending froze, taxpayers got stuck funding a $700 billion bailout. now bank investments will be more regulated, banks will be barred from so-called speculative trades. then there are the non-banks, financial firms that the government also deemed too big to fail. taxpayers had to bail out a.i.g. and others after they, too, got stuck with toxic as

jeff greenfield is here with more on that. jeff? >> reporter: katie, it is indeed a very old conflict. the press versus the government. this time it is coming with a twist. the massive release of documents came not from a news organization but from wikileaks, the three-and-a-half-year-old on- line site with no headquarters, no physical presence anywhere and with a history of releasing see decrees of all sorts from rule books from guantanamo to sorority initiation rituals. >> is this based on the truth. >> reporter: wikileaks founder 39-year-old australian julian assange acknowledges that he has an agenda. >> we hope the release of this material will result in significant reforms in u.s. and allied policy in afghanistan. >> reporter: traditional media outlets don't talk that way. then wikileaks is completely unlike traditional media. for instance, newspapers often consult governments before publishing potentially damaging secrets. >> i think it requires a lot of judgment on the part of people who are gate-keepers. >> reporter: wikile