he said those instruments exploded jefferson county's debt without any one realizing. >> it we were overextended by 85% and the folks that insured our bonds should have known better. >> when the market crashed in 2008 jefferson's bonds dropped to junk, allowing lenders to demand payment in full. >> they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. >> did wall street really take jefferson county for a ride here? >> i leave they did. >> a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. >> we had 21 people that either plead guilty or went to prison. commissioners, employees and contractors. >> that included former commissioner and birmingham mayor larry langford. sentenced to 15 years for accepting thousands of dollars in cash and gifts from one of the bankers. former commissioner gary white. ten years for accepting bribes from an enginee

he said those instruments exploded jefferson county's debt without any one realizing. >> it we were overextended85% and the folks that insured our bonds should have known better. >> when the market crashed in 2008 jefferson's bonds dropped to junk, allowing lenders to demand payment in full. >> they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. >> did wall street really take jefferson county for a ride here? >> i leave they did. >> a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. >> we had 21 people that either plead guilty or went to prison. commissioners, employees and contractors. >> that included former commissioner and birmingham mayor larry langford. sentenced to 15 years for accepting thousands of dollars in cash and gifts from one of the bankers. former commissioner gary white. ten years for accepting bribes from an engineering

he said those instruments exploded jefferson county's debt without any one realizing. >> it we were overextended85% and the folks that insured our bonds should have known better. >> when the market crashed in 2008 jefferson's bonds dropped to junk, allowing lenders to demand payment in full. >> they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. >> did wall street really take jefferson county for a ride here? >> i leave they did. >> a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. >> we had 21 people that either plead guilty or went to prison. commissioners, employees and contractors. >> that included former commissioner and birmingham mayor larry langford. sentenced to 15 years for accepting thousands of dollars in cash and gifts from one of the bankers. former commissioner gary white. ten years for accepting bribes from an engineering

he said those instruments exploded jefferson county's debt without any one realizing. >> it we were overextended85% and the folks that insured our bonds should have known better. >> when the market crashed in 2008 jefferson's bonds dropped to junk, allowing lenders to demand payment in full. >> they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. >> did wall street really take jefferson county for a ride here? >> i leave they did. >> a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. >> we had 21 people that either plead guilty or went to prison. commissioners, employees and contractors. >> that included former commissioner and birmingham mayor larry langford. sentenced to 15 years for accepting thousands of dollars in cash and gifts from one of the bankers. former commissioner gary white. ten years for accepting bribes from an engineering

he said those instruments exploded jefferson county's debt without any one realizing. >> it we were overextended% and the folks that insured our bonds should have known better. >> when the market crashed in 2008 jefferson's bonds dropped to junk, allowing lenders to demand payment in full. >> they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. >> did wall street really take jefferson county for a ride here? >> i leave they did. >> a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. >> we had 21 people that either plead guilty or went to prison. commissioners, employees and contractors. >> that included former commissioner and birmingham mayor larry langford. sentenced to 15 years for accepting thousands of dollars in cash and gifts from one of the bankers. former commissioner gary white. ten years for accepting bribes from an engineering c

he said those instruments exploded jefferson county's debt without any one realizing. >> it we were overextendedand the folks that insured our bonds should have known better. >> when the market crashed in 2008 jefferson's bonds dropped to junk, allowing lenders to demand payment in full. >> they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. >> did wall street really take jefferson county for a ride here? >> i leave they did. >> a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. >> we had 21 people that either plead guilty or went to prison. commissioners, employees and contractors. >> that included former commissioner and birmingham mayor larry langford. sentenced to 15 years for accepting thousands of dollars in cash and gifts from one of the bankers. former commissioner gary white. ten years for accepting bribes from an engineering com

he said those instruments exploded jefferson county's debt without any one realizing. >> it we were overextendedd the folks that insured our bonds should have known better. >> when the market crashed in 2008 jefferson's bonds dropped to junk, allowing lenders to demand payment in full. >> they called everything in and we were unable to pay. today, jefferson county is debt over $4 billion. we are in bankruptcy. the largest bankruptcy in the history of a local government in the united states. >> did wall street really take jefferson county for a ride here? >> i leave they did. >> a federal criminal investigation of the sewer deal found that was the case. but wall street got a number of help from a number of people with their hands out. >> we had 21 people that either plead guilty or went to prison. commissioners, employees and contractors. >> that included former commissioner and birmingham mayor larry langford. sentenced to 15 years for accepting thousands of dollars in cash and gifts from one of the bankers. former commissioner gary white. ten years for accepting bribes from an engineering compa

got to the point the out cry from groups was so loud they killed the project outright leaving jefferson countyel to nowhere and millions of dollars added to the already ballooning debt. >> the county wouldn't be able to make payments on the bond they went back to wall street looking to refinance. >> original debt service reported $2.3 billion. they said well we can go to a variable rate interest and add derivatives to that to synthetically make that lower. these new instruments wall street generated were so complicated that this average person even the finance person couldn't understand. >> he said it exploded jefferson county's debt without any one realizing it. >> we were over extended by 85 percent. the folks that insured our bond should have known better. >> it allowed ledgers to have payment in full. >> we were unable to pay. the county is in debt over $4 billion. we are in bankruptcy. largest bankruptcy in the history of the local government in the united states. >> did wall street really takeevtake jefferson county for a ride here? >> i believe they did. >> a criminal investigation of t

jefferson county, alabama, suing to restore a local tax that they say will get them back into balancen the beginning of the new fiscal year, it is short by tens of millions of dollars in how much it is collection in taxes. so i don't think that raising taxes is going to get us out of this. we will leave aside the question of honor for a minute and say that bankruptcy is the best way out. gerri: i don't know about that. >> i think you should pay your debt. i think that some of these agreements with unions should be renegotiated. you can't retire at 50 with 90% of your pay. come on red nobody in the private sector does not. >> if you want to renegotiate the contracts, bankruptcy is the only way to do it. even bankruptcy might not work because of the way the laws are written. these are very tough contracts that we have. >> we will find a way. tim, thank you for coming on tonight. >> also today from another distinction for the state of california. they're probably not too proud of that. the golden state is also the worst state to get a loan and. what are the best credit states? tonight's

once again, this one moving in towards portions of jefferson county into west vir i have. let's go the to south and talk about a tropical storm. this is tropical storm isaac. it is making its way away from key west. looks like it's trying to get its act together to become a little bit better organized here. a ton of rain in miami and ft. myers. 2 to 4 inches of rain so far. take a look at the storm over the next couple of days. track changes again. just a little bit to the west. the latest advisory has winds of 60 miles an hour, moving to the west/northwest at 16 miles an hour. that puts it in over the gulf of mexico. strengthens this storm. comes close to new orleans as acategory 1 with 90 miles an hour. is expected to make its way onshore, the official hurricane center says it will bring it to a category 2 storm with winds over 100 miles an hour. the gulf coast states need to watch pout for this in new orleans, pensacola, now under hurricane warnings as are the florida keys. this is definitely going to be one storm we will be watching closely for you right here. areas of

and wiped out the largest bankruptcy in municipal county history and across america which was jefferson county so at the same time that should have been your signal that should have been your true red flag he was waving the flag when he was saying in june on c.m.t. see where he goes to talk his book that was where he was saying jamie dimon is the best banker in the world now everybody two months later is acting all shocked that he's dumped his you know municipal bond holdings so one more book like jamie diamond now you know it's like the u.s. you know after nine eleven al qaeda was the enemy then they attacked iraq now al qaeda is the rebel forces and working with america and syria so al-qaeda is the good guy now so jamie dimon is the good guy now he's the good terrorist he's there to commit financial terrorism on behalf of warren buffett but when it's not convenient then he'll be thrown over the bridge temporarily and then be brought back it goes from being the good terrorist to the bad terrorist depending on what role is easily played out on c. and b. c. the number one propaganda network in

the showers popping up over gaithersburg and moving eastward charlestown and jefferson county. localized showers. we will be in the hunt for showers through the evening hours. the cold front approaches. you see a number of cells and lining up. to the northeast. we will be in the game for more storms for the next several hours. slight risk that could become severe hail and damaging winds. rain and cold air through winchester ind the upper 70's. we will remain monday. the wins will turn to the northwest. will be monday tomorrow. some isolated thunderstorms in the afternoon. senate ready on thursday. friday until on l from gunther friday night and saturday. the cooler air arrives in town. set when they get here. name in a vain. anybody who ever played the game of football knows this is a day celebration. of training camp is euphoric. the change -- the players train year around now. seem to gear back a can save youryou legs. it is a milestone. today marked the end of an era a certain degree. the redskins walked off the d closing training camp for final time. >> i get to go home and

the storm also spawned a tornado in jefferson county that destroyed several homes and buildings. >> the run thing we have not heard out of this is that anybody has lost their lives so no major injuries or anything like that. >> so far, so good. >> they are still dealing with very heavy rain. still a tropical storm. isaac doing its best to keep its act together here although it has lost its energy source now that it is moving inland. maximum winds down to 45 miles per hour. you can see still plenty of heavy rain there in parts of country that don't particularly need it including much of mississippi there, louisiana still getting the rain and even some outer bands stretching into alabama at this hour. isaac will continue tonight story here for another day or so. the remnants will continue to track off to the north and west today. the current movement of the storm is just five miles per hour. so yeah, just not moving a whole lot in the last 24 hours. let's do some local weather. here in washington, you look great. 71 in washington. 73% humidity. winds don't have much out of the north here

we'll zoom up here first, right on the border of jefferson county in west virginia. it's a heavy storm. it has not prompted a warning just yet, but looking at heavy weather right along i-81. it is straddling i-81 right now. we're looking at big storm from georgetown down toward clearbrook. it's south of martinsburg. earlier today, this is what the sky looked like. pretty ominous. and they did have a severe thunderstorm warning at one time early this afternoon, shortly after this video was taken. that may be the tail end of the storm that prompted the severe thunderstorm warning. again, martinsburg, at least thankfully, the storm is south for the time being. live doppler 9,000. we'll go back and travel off to the south and west. front royal, big time thunderstorm between 3:40 and also 28. and that is moving off to the east now. that is moving off to the east, so get ready in warrenton and culpeper. in fact, we'll kind of zoom back out a little bit and put this into motion. where will these storms go in the next hour? i tell you what, they will hold together. the atmos

given what we are seeing you report on, how close and similar are your conditions to jefferson county and the ninth ward? how does grand isle differ from that? >> caller: you know, i have been able to briefly talk to colleagues up there. we are 60 miles directly south of new orleans. this is kind of the end of the road when you come into the marshland south of new orleans toward the gulf of mexico. this is it. this is as far south as you can go, basically. it's an island seven miles long and a half mile wide in the widest places. at this point, the bay waters are meeting the gulf of mexico waters. there's water on every part of the island. i imagine we got the center of the storm here. it's been jogging across us. last night wrapping up the day of reporting, we were on the western edge of the eye of the storm. it makes it easier to take. if you have to pick a side, that would be the safer side. the eye of the storm moved over us. now, we are on the eastern edge. it's definitely, the winds are much more ferocious and much more sustained than they seemed to be last night on the western

here's jefferson county, west virginia. you can see some of the stronger showers right there in through clark county just to the east of winchester and right down route 7 right around the airport seeing some of those and down into fairfax county. we'll zoom into fairfax county. this shower has been here around the last half hour. if you live between braddock and old key mill, you are really seeing some heavy rain there. th also right along the beltway and 95. as you make your way up 395 in and around the airport, that's what's happening right around in this area. then you move over the river and right over nats park we're seeing some rain. i bet they have the tarps out there right now. but this is right over nats park right now. it's not moving a whole lot, so once again, you're going to continue to see very heavy downpours. these are also right along 295 so heads up along pennsylvania avenue. you'll continue to see that rain. these showers will continue to expand and move around just a little bit. so if you're going down to

here's the rain through jefferson county, west virginia. some big-time showers around leesburg and follow the potomac down through the district and you've got more rain out here. here's where the heaviest rain is, just south and east of leesburg and riotght along 7. as far as route 7 goes, more showers right along route 7. you move to the beltway and i-95 around newington, franconia, springfield, mt. vernon seeing some of this rain. you cross over the potomac, around oxen hill, very heavy rain here and that includes nats park. they had a rain delay the last two nights. they may have another delay tonight because it's 6:20 and that game is supposed to start in 40 minutes. it's going to take them some time to get that game together but i do think they should move out of here an they should get the game in. when? these storms are not moving very fast so is as good as mine. tropical satellite showing a storm down to the south. this is tropical storm isaac right now making its way towards the east at a very quick clip. about 22 miles an hour. a

governor mel carnahan, his son roger, and senior campaign adviser chris shifford went down in jefferson county>> carnahan died along with his son who was piloting the plane and his campaign aid christopher. carnahan was running for a u.s. senate seat against john ashcroft. >> governor carnahan died just a few weeks before the election in missouri in 2000. and that meant that democrats did not legally have time to replace him on the ballot for that senate race. state law didn't allow it. in a pinch, the acting governor told the people of missouri if they voted for mel carnahan on their ballot, the acting governor would appoint mr. carnahan's widow to the senate seat. on election day in the year 2000, john ashcroft was in the uncomfortable position of technically running against a dead person. he ran against a dead person and he lost to that dead person. >> john ashcroft, who is the incumbent, was faced then with the delicate and difficult prop pigs of running against a pan who is dead. here's where it stands at this hour. in missouri, two thirds of the vote have been counted. mel carnahan, who

. >> jeffco referring to jefferson county here in colorado. his speech representative ryan sat down for his first solo interview as a vice presidential candidate with fox news senior political analyst brit hume. ryan has now taken to mentioning in stump speeches and the campaign has now taken to producing as posters for back drops posters with the words the romney-ryan plan for the middle class. brit hume asked the candidate about the obama campaign's charge that romney and ryan have in effect forsaken those voters. >> you can answer the charge that your planning massive tax cuts for the wealthy at the expense of the middle class? how do you respond to that allegation? >> what we're saying is get rid of special interest loopholes and deductions that are equally enjoyed by the wealthy so you can lower tax rates for everybody. >> representative ryan from here headed to las vegas for a private meeting with finance people. we're told it's not a fundraiser at the venetian hotel in las vegas owned of course by the financier and casino owner sheldon

young person, got involved in republican politics, serve as a county judge executive here in jefferson county, which is where legal, the largest city in kentucky, is located. ran for the u.s. senate in 1984, ousted the democratic incumbent, and has been reelected four times since then. it been a steady upward climb in the ranks of republican leadership in the u.s. senate. he came in with really no connections and no national reputation i'm a kind of built his reputation on issues like campaign finance reform, resisting a lot of measures campaign finance reforms. got into the leadership at now is the leader and would aspire to become the senate majority leader after the elections this fall. his primary legislative area of expertise is probably campaign finance reform. he is still active in filing briefs in litigation in the supreme court opposing reform he thinks would infringe upon the first amendment. but he's also done several other things. he is renowned as the foremost advocate for burma, and the united states senate, and long before the issue of burmese reform became widely known, he's b