mac or pc. we'll help you make that choice easier. >>> a boating accident like you've never seen before because this one happened on a highway during a police chase. >>> and drivers call it the flash of death. and tonight, its responsible for a major auto recall. >>> let's check out the temperatures now from our weather net station, 76 degrees, much coolinger. you know a torm came through there. storm came through there. . >>> for many of us, our biggest back it school decision was skooby doo, these choices between mac and pc. we tray to make that decision a little easier. >> reporter: we like to make that decision easier too but unfortunately we can't do that right now. let's go to norm and the forecast, i believe. we've got some storms out there? >> things are rocking in some areas tonight? >> tell you what, by about 1:00 this afternoon the crowds started to thicken up an we had thunderstorm activity moving through between 2:30 and 4. it's now in the process of making its way to the northwest.

how long does it take for you to earn a big mac? >> you don't earn them.care. >> greg: that is true. >> brazil, special seats in the subway. jack, can we put up the picture of the seats. i just want to say that i think in this day and age it is shameful that blue people can only sit in certain seats. >> it is bluest. >> i thought we were past this. greg, you said should you get a special seat if your waistline is several feet. i think the average guy's waistline is several feet, isn't it. >> yeah, 36 inches. that the' where i'med a, sadly. >> martha, you said this gives people too much credit for being comfortable with who they are. i would think i would rather be comfortable in my seat. >> but they won't sit there because it has a fat person texture on it. >> by the way, you look huged compared to me. >> that was amazing. it is an unusual -- i have never felt smaller as a man and that is saying something. >> i may need a blue seat. >> greg: martha is 7'4". >> and a lot of people don't know that. >> former wnbaer. >> greg: andy, the things around her neck,

freddie mac was a fast second of your leader, but it was ginnie mae. so there is a role for government to play. but market can be terrifically efficient and allocating resources. i think we are all appreciative of that. and i believe that yes there is room for government but it is much more limited role -- >> i didn't ask whether there's room for it. that seems to say that we want to compete. as a member of the government i want to compete. for housing i want people to have good housing if they live in and if they can't otherwise would i wouldn't give them a penny. i wouldn't support any. >> there are better ways by finding direct transfers rather than trying to lean on housing markets. all we do is encourage inefficiency and housing markets. we end up investing too much income, too much of our capital stock in housing, not enough in product of physical capital, not enough and social capital, not enough in human capital that could help people durham higher and higher incomes. >> we've got two more activists here so we want to get to them. >> mr. chairm

fhfa continues to classify fannie mae and freddie mac as critical supervisory concerns.e significant risk they would be unable to fulfill their missions we place them into conservatorship last september. since then, the treasury department has purchased $86 billion in their senior preferred stock. >> enterprises short-term financial outlook remains for. which will result in additional requests for preferred stock investment from the treasury department. however, both enterprises have stress tests their capital shortfalls and expect treasury commitment to fund up to $200 billion in each-- and capital for each of them to be sufficient. the senior preferred stock purchase agreements have given investors the confidence there is an effective guarantee of gses obligations. in addition the combined financial support of the treasury department and the federal reserve of over three-quarters of a trillion dollars to date for housing gse debt heaven sure they remain liquid. because of this support both enterprises have been able to maintain a critically important presence in the se

. >> susie: the regulator in charge of fannie mae and freddie mac considers the future of the mortgage giants. we hear from the federal housing finance authority's james lockhart. >> paul: while retailers have been promoting "back to school" sales for over a month, the buying bonanza hasn't materialized. the latest retail reports show consumers are still holding tight to their wallets. microsoft says "windows 7" is ready to go. how does it compare with the competition and is it worth the upgrade. our tech guru has a preview. i'm paul kangas. >> susie: and i'm susie gharib. this is "nightly business report" for thursday, august 6. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. a more upbeat projection on the job market from two wall street powerhouses. goldman sachs and deutsche bank sharply revised their forecasts on the number of jobs lost american businesses cut in july, a day before the government releases its report. deutsche bank now expects 150,0

mac, it's been kind of a roughkelton quarter, hello, i'm a mac.i brought in a trainer to get me back on top of my game. come on, get started you bucket a bolts. pc mag rated mac #1 in customer support. are st gonna take that? no... pc world's readers called mac #1 in reliability. he's laughing at you. i'm not laughing at you. he's #1 in customer satisfaction. what are you?? okay, maybe we could try some positive reinforcement. sure. you're doing a good job mac. thanks. hey! nives first 3-3--1 shshowerer...shamp...and shav. it's alalmost evrything men need f for grooming... most. i need the baker file stat!! reply!! still making changes. circle back later!! what's with the yelling? oh, our internet slows down during peak hours so sending e-mails and large files just takes forever. so, we just yell. ben!!! thanks for the flowers!!! i thought you hated me!!! lol!!! semi-colon! right parenthesis! winky emoticon! (announcer) switch to verizon and get a dedicated high speed internet connection from our office to your small business so you won't be slowe

mac, it's been kind of a roughkelton quarter, hello, i'm a mac.i brought in a trainer to get me back on top of my game. come on, get started you bucket a bolts. pc mag rated mac #1 in customer support. are just gonna take that? no... pc world's readers called mac #1 in reliability. he's laughing at you. i'm not laughing at you. he's #1 in customer satisfaction. what are you?? okay, maybe we could try some positive reinforcement. sure. you're doing a good job mac. thanks. hey! nivea's first 3-in-1 shower...shampoo...and shave. it's almost everything men need for grooming... almost. new active 3 from nivea for men. what men want. and the suit? you like it? no...i love it! ♪ ♪ >>> i was going to write your score down here. shaq has ten. i have -- i'm going to lay down my word. which is gonad. so that's eight points, i think. wait. yeah. no, nine points. all right. i have nine. jimmy, nine, shaq, ten right now. so it's your turn. so i heard you went to broadcasting school. >> yes. >> how was that? >> it was fun. >> what did you learn there? >> i learn

mac, how many could you down? >> i was just telling her it is great portion control because a lot of the issue we have is kids each eat too much too much the size of the meals are not controlled the way they used to be. if you have a big 12-year-old and you can put two on there and it will fill them up versus going with the traditionable lunchables and things of that nature. >> certainly we have not done this type of healthy eating yet. pizza on an english muffin. if you want more information we will post it to our website but speak to me about back to school. what are other fun lunches we can pack so they are not stuck going to the cafeteria which doesn't have the best things. >> you have sandwiches, definitely slice up apples, put that in their lunch. get multigrain tostito chip. >> and the kid will think they are getting junk food but they are not that bad. >> because they are getting multigrain and the main thing with kids and i want parents to understand, stay away from the lynchables, please. high in sodium

and plus, remember fannie mae and freddie mac? meet their cousin jenny, the latest subprime mortgage lender and possible bailout considered e-candidate. gearing up for the 2010 sen have yo yous-- census. the journal editorial report starts right now. welcome to the journal editorial report, i'm paul gigot. claims fast and furious that the democrat health care reform plan, what critics are calling death panels for seniors and children with birth defects. sarah palin got in on the act recently writing on her facebook page, saying the american i know and love is not one where my parents or my baby with down's syndrome will have to stand in front of a death panel so his bureaucrats can decide based on a subjective judgment of their level of productivity in society whether they are worthy of health care. what they said this week. >> the rumor circulating around lately is this idea that somehow the house of representatives voted for death panels that will basically pull the plug on grandma because we've decided that we don't-- it's too

it was about fannie mae and freddie mac.he single biggest factor in the increase in the deficit was the war in iraq. much more than the economic recovery bill. what we have is a continued excess military spending. there are other areas that i wanted to cut back. as far as fannie mae and freddie mac, -- these are things that cause the deficit. in 2003, i said i did not think they were in crisis. i didn't think there was a crisis in lehman brothers or others. i invite you to read a book of john mccain adviser. it was in the wall street journal a week ago. the bush administration decided that their way to help low income people was to greatly increase mortgages for lower income people. i saw it -- i thought that was a mistake. we could build rental housing for them. we will give up the paper to show you the quotes. in 2005, i joined an effort by the republican chairman of the financial services committee to pass a bill to regulate fannie mae and freddie mac. the republicans in the house passed the bill. >> [inaudible] >> are yo

ones that need fannie mae and freddie mac guidelines. fannie mae and freddie mac would lose billions of toxic assets. they back 40 percent of all u.s. home loans together. marion barry is under the spotlight again, or questions he outspent his colleagues on contracts. and ex-girlfriend filed and then dropped stalking charges. pete once hired thhe once hired. >> because he hired her, it includes an investigation on council spending on outside contracts. >> [unintelligible] >> he once said donna whites by to --brighthaupt was qualified. there was an email record that said he would try to support her financially if he could not get a contract. there's a report ithat he spent $252,000. he has very few documents to show what the city got for its money. a spokesperson for him since the email between him and donna josie was closely supervising his work. he wrote "i was greatly disturbed by our meeting on tuesday it because your project is behind schedule. oded tells her she should follow instructions without long debates. keeper cell phone on a

macs are easy to use and less prone to get viruses.ow, if you're going into graphic design or music, it's a must. but macs are more expensive. they typically cost about twice as much as a similarly configured p.c. notebook. if you proffer a p.c., you can buy a slim and sleek-looking laptop, and you get more choices in terms of configurations. regardless which of type of computer you want, shed ask for studentiscounts when you go to the store. and you should ask your school if it has a deal with one particular company. >> confusing world out there, sent it? too many options. 6:15 right now. time for a look at the traffic and weather every 10 minutes. >> brian? >> i'll take it away from you guys first. we'll talk about what's happening outside. a cold front is approaching from the west. this will inner harbor ate stronger thunderstorms maybe later today and into tomorrow. this was going to whiz on by us, down off of bermuda, we have the hurricane down to the south, bill. it's going to be moving up into the atlantic. it's going to slow th

>>hat do thecall a b mac. >> a big mac's a big mac b they call it le b mac >> le big mac. at do they call a whopper. >> d't know. i didn't go into burger king. >> what's in it? >> beauty products. alarm clock. glass case. control. >> what' that? >> my diet. >> what else is in there? >> here, here, here >> what's ts? >> . >> if you wa to be old hool about it, a you know i all about school, then we coulwait until dawn and slice eh other up at sunri le a couplef real life -- now if you don't sele down i'm going to have put o in your eecap and i heartell that's a very painful place to get ot in. >> wel pam, which w are you going? leftr right. >> right. >> that's too bad why? >> well, because it was a 50/50 ot on whether u would be going left right. yosee we're bot going left. you could have just as easily bn going left too and ifhat was the case t would have been awhile before you srted gting scared. since you'reoing the other i'm afraid you'r going to have to start getting scaredmmediately. >> tarantino's lates film may beis most ambious yet. inglourious basterds features ban

mac died and another was severely wounded. >>>> the best friend of mac said nanaboo did not take violencelemme. >> she is outspoken and would not take what people were going to say to her. >> the transgendered society says there providing grief counselors. it -- they are providing grief counselors. families is in their hurt and angry. >> my mom, she has got 10 boys and that is one of my other brothers, and for me to see him pass like that -- 9 >> i am angry with people that do the wrong thing to people. >> no word yet about the suspect. the victim's blood remains on the sidewalk more than 24 hours after the attack. it transgendered support group is organizing a vigil here tomorrow night. >> i want to get a track -- a check on the traffic. >> we do have a lot of slow traffic out there as we head out on the beltway. it is bumper-to-bumper each way here on the road. pretty solid across the legion bridge and into tyson. a new incident on the outer loop of the legion bridge as well. nothing reported in the way on the 270 spurr. up ahead in clarksburg, a very slow ride as you head toward freder

we saw indy mac a the stt of the year. they were the first of this year to get bough by private equity or a series o private equity firms, a group of them. and i've seen som criticism after that osome who say rhaps indy mac was breredr sold too cheap by the fdic >> that's a problem and worry you have if you're a receiver whose taken over the bank and now sellinit, that later so somebody's gng to say you sold tocheapnd somebody made a pile of money because you gave them too gd a deal. that certainly happened in the early 90's when you ha the rtc, if yo remember that, quidating thrifts and selling them pretty cheap. and se people me enormous amnts of money buying thing chea so you got to worry abouthat financially t also politicall on the other hand,f there are few buyers, the pricesre going to be chp. if the are lots of buyers dying to buy, the prices wodn't be so cheap. that's the nature of a mket, d this is a sor of spialized market in taking over the ongoing assets of fail financial institutions. >> jeff: we'll have to s

ken beston's invention is called mac track. it where the comp uter where the computer d isan the first time it goes on-line after being stolen it comes up. if it is camera equiped it will take a picture. the success stories out of brooklyn. a tattoo own shop owner bought the laptop. >> they recovered that mac and found two other laptops in different cases. they didn't have our software on it but as a result of our software we were able to solve other crime. >> reporter: for more many information, go to wusa9.com and click on this story. it is right under "living $mart." >>> shoppers in virginia will save $4 million starting today through sunday. virginia's fourth back to school sales tax holiday is up and running and if you purchase any school-related item like supplies or uniforms you don't have to pay the 5% tax. even people who don't have children in school can save money because retailers can choose other items to down if they would like. >> 47-inch tv. >> nice. tax free. >> tax free but that is on school supplies. >> you c

i thought macs were much more stable and secure than pcs? they're not. you can't believe everything you hear! i'm gonna think about it. just get a pc. man, it never ends. i don't even wanna ask. >> joe: third down and six for josh freemen. we're about to see the third down play. if there's one thing we can look about, it's the play of the young quarterbacks, with chad henne on the miami side and josh freeman for tampa bay. >> troy: they get a chance to play against young players, get evaluated and see what it's all about. also the young receivers for tampa bay, like we've talked about, that's a key positional battle. coming out of this game on who's going to make this team. >> referee: false start, offense. number 66. five-yard penalty. still third down. >> joe: so third and six became tougher at third and 11. we'll look forward to the play of the two young quarterbacks. maybe we'll get into the wildcat at some point and explain tt a little more with regard to pat white, the young quarterback that the dolphins drafted. third and 11, freeman bounces off o

i thought macs were much more stable and secure than pcs? they're not. you can't believe everything you hear! i'm gonna think about it. just get a pc. man, it never ends. i don't even wanna ask. >> joe: third down and six for josh freemen. we're about to see the third down play. if there's one thing we can look about, it's the play of the young quarterbacks, with chad henne on the miami side and josh freeman for tampa bay. >> troy: they get a chance to play against young players, get evaluated and see what it's all about. also the young receivers for tampa bay, like we've talked about, that's a key positional battle. coming out of this game on who's going to make this team. >> referee: false start, offense. number 66. five-yard penalty. still third down. >> joe: so third and six became tougher at third and 11. we'll look forward to the play of the two young quarterbacks. maybe we'll get into the wildcat at some point and explain that a little more with regard to pat white, the young quarterback that the dolphins drafted. third and 11, freeman bounces off

. >>> and wh we come back, overuling fannie mae and freddie mac. the idea would be to give them a clean slate in the wake of mortgage mtdown. >>> and the former congressman caught with cash in his freezer. william jefferson pays the p >>> stocks are rising overseas this morning after wall street took a breather from its summer rally. tokyo's nikkei average jumped 1.3% today. hong kong's hang seng is higher. in london, the ftse opened higher. wall street starts the day with the dow at 9280, after slipping 39 points yesterday. the nasdaq fell 18 points to close at 1993. >>> the obama administration is considering one of the biggest overhauls to the housing finance system since the great depression. the president's top economic advisers are meeting today to determine the future of fannie mae and freddie mac. one proposal would strip the companies of their bad debts. >>> president obama has announced a major investment in clean energy technology for cars. he unveiled $2.4 billion in grants from the stimulus package to use to create advanced batteries a

mac hen mac henry, birthplace of the "star-spangled banner." >> the barracks was established to defend the nation's capitol, and because this is the oldest post of the corps, because most of our history comes from this place from the 19th century, we started holding parades to show people what we're all about. >> good evening, ladies. welcome to marine barracks, washington. >> every friday evening over the summer, the public is invited to visit the post to watch the evening parade. >> what's really nice about marine barracks, washington is that we treat all of our guests with the utmost respect. they receive all military courtesies, customs. welcome to the barracks. have a great night. whether you're 5 years old or 85 years old, officer enlisted, we welcome everyone aboard equally and we try to show them the hospitality they would get anywhere when you invite people to your home. >> need any assistance? main gate 4 south. actually that's going to be right here, ladies. the reason we escort the ladies while we're outside on 8th street is to demonstrate propriety and courteousness. durin

. >>> michael and mac. an "e.t." exclusive.ng macaulay with the king of pop on the set of "home alone ii," the never before seen amateur home video. new insights into their unusual friendship. >> mac is the king of the child stars. >> and i'll tell you what my investigation has uncovered about michael's three kids. >>> inside the jackson compound. what paris just created in tribute to her late father. >>> patrick swayze leaving the hospital in a wheelchair. the latest in his relentless fight against cancer. >>> senator kennedy's multimillion-dollar will.

. >>> and when we come back, overhauling fannie mae and freddie mac. the idea would be to give them a clean slate in the wake of the mortgage meltdown. >>> and the former congressman caught with cash in his freezer. william jefferson pays the price for selling his office. hi, may i help you? lots of discounts on car insurance. can i get in on that? are you a safe driver? yes. discount! do you own a home? are you going to buy online? yes! discount! isn't getting discounts great? yes! yeah, i got carried away. helping you save money -- now, that's progressive. call or click today. was about 30 seconds after i woke up. still not smoking! seven days. nicorette takes just enough of the ege off the need. i still want to light up, bu i don't have to. (announcer) .you can do it. nicorette can help. good. ( laughs ) ( gasps ) do you hear thatsound?, they're popping! - really?! listen. - ( laughs ) ahhhhh... mmm. where'd the sound go? even when they've stoped popping, is it in your tummy? they haven't stopped working. now, every box of kellogg's® rie krispies0 c

its index shows prices on homes with mortgages guaranteed by fannie mae and freddie mac rose one half a percentage point from may to june. both groups say price gains are being driven by first-time buyers and bargain hunters snapping up foreclosures. >> susie: as paul mentioned, a new report from the conference board today shows that consumers looking ahead six months are much more confident about their own financial fortunes. that should be good news for retailers, because people concerned about their finances tend not spend. scott gurvey explains. >> reporter: when the economy hit the skids the retail sector fell off a cliff from which it has yet to recover. people without a job or afraid of losing one just don't spend. marie driscoll of standard and poor's says retailers have scrambled to adjust. >> in the last year we've watched retailers slow down their store expansion, reduce their inventory investment, skew their merchandise assortment. while they still have higher priced items available for their shoppers, they've skewed their assortment to lower price points. >> reporter: wal

they are far lower than freddie mac and fannie mae at 2.8%, 3.7%.those levels are even lower than the prime market at 4.7%, the home market at 7.2%. although fannie mae and freddie mac have a combined 56% share in the mortgages outstanding, they account for 22% of serious delinquency. on the other hand, those private-label securities i mentioned earlier, which are 13% of the total mortgages, account for 42% of serious delinquency. as these high levels of delinquencies trigger downgrades in the aaa private-label securities, presented significant challenge for investors, fannie mae and freddie mac and the federal home loan banks were big investors in these securities. currently, 65% of the value of private-label securities in the federal home list, federal home loan banks system have been downgraded to-watch. this compares to 20% at year end. the combined fannie mae and freddie mac private-label securities portfolio, about $167 billion, are much worse, with 84% currently downgraded. as you can see, 68% are junk below investment grade. unlike the banks

i thought macs were much more stable and secure than pc's? they're not.ou can't believe everything you hear. i'm gonna think about it. just get a pc. man, it never ends. i don't even wanna ask. well? well what? you said if i came to work dressed like a matador you'd move me up your leaderboard. so that if you win the golf trip i'll be one of the three guests you take to spain. oh, right-- well, now i'm thinking i might go to scotland. so, this doesn't really make sense anymore, you know? i see. forget it-- forget it. (announcer) we understand. you want to golf the world. enter for a chance to win a global golf trip and taylormade clubs at fedexcup.com. and taylormade clubs >> jim: fedex field here in landover, maryland. some of us on this crew heading up to the playoffs for the fedex cup. >> phil: i'm coming with you, i'm going to do a little golf tomorrow. >> jim: you're welcome. third down run does not get the first. anthony alridge plugged up. let's look at colt brennan throwing that tying touchdown. he drops back, two receivers to his left, the patrio

. >>> michael and mac. an "e.t." exclusive. a young many kauly on with the king of pop on the set of home alone ii the never before seen amateur home video. new insights into their unusual friendship. >> mac is the king

mac is now done a 180. when he took over as the ceo he basically adopted and got rid of the agency model where you make money as a brokerage and transaction stock trades and being an advisor on deals and stuff, that was the main business model. the trading model and that risk model is doing the 180. for a part of that, jim gorman is the head of the brokerage department. that is a part of being a broker. he got mixed reviews in the transition. i will say that with the loss recently. that did not help. >> good stuff, charlie. thank you. coming up next, murdoch said he wants to charge for all of news corp's online contents. is that a good idea? can he make it happen? can others follow suit? >> par performing and the stock roller coaster ride up 1.7% to $12.42. back after this. undefeated professional boxer floyd "money" mayweather has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse

i thought macs were much more stable and secure than pc's? they're not.ou can't believe everything you hear. i'm gonna think about it. just get a pc. man, it never ends. i don't even wanna ask. well? well what? you said if i came to work dressed like a matador you'd move me up your leaderboard. so that if you win the golf trip i'll be one of the three guests you take to spain. oh, right-- well, now i'm thinking i might go to scotland. so, this doesn't really make sense anymore, you know? i see. forget it-- forget it. (announcer) we understand. you want to golf the world. enter har ctoa e nc e n ala obgl golf trip and taylormade clubs at fedcu >> jim: fedex field here in landover, maryland. some of us on this crew heading up to the playoffs for the fedex cup. >> phil: i'm coming with you, i'm going to do a little golf tomorrow. >> jim: you're welcome. third down run does not get the first. anthony alridge plugged up. let's look at colt brennan throwing that tying touchdown. he drops back, two receivers to his left, the patriots double cover the slot receiv

glenn: freddie mac doesn't do ballet. that's true. the other job he has is that he gets a job with wasserman pearl, a major wall street deal company, and he gets in their chicago office, and he makes $16 million in less than 2 years. glenn: in two years? >> yes. glenn: $16 million is ma he makes. >> on top of the quarter million taxpayers gave him for freddie mac. he was there when they were cooking the books. he was there when they were cooking the books. glenn: how did he make the $16 million? >> basically on one large deal, a big deal he got it on was he was advising s.b.c. which later grew into the new at&t. glenn: ok, s.b.c. >> right. glenn: here is what is interesting about the s.b.c. thing is the guy who helped make this deal took a loss, did he not? >> yes. they had to sell because they bought another phone company, ameritech. they had to get rid of a company called security link t was a billion and a half dollar investment. he sold to a group headed by a bess bethesda group led by mr. acre, the chairman and sold to a group le

the thing that probably was the most well-known was the bernie mac show which i created an executive produce and have just come from doing previews on the office and writing that and started as a stand-up comic and felt now is this time to start teaching again and kind of stumbled into "the daily show." >> host: how often do you appear. >> guest: really only once or twice a month but because of reruns, and cable, and this internet, it feels like i'm on a lot more than i actually a i give the illusion that i am on the show more than i am. >> host: larry wilmore, by the way, we'll put the numbers on the screen if you want to chat with larry wilmore, here's your chance, 202-585-3885. if you live in the east and central time zones and 202.585-3886 for mountain and pacific time zones you are watching book tv live from the los angeles festival of box, from african-americans, what kind of reaction to you get to your book. >> the thing -- i have gotten great reaction from people that have read it and know about it because most of the people who kind of know me know by work from "the daily sh

. >>> the white house is considering splitting up fannie mae and freddie mac. this deal would place the company's billions in so-called toxic assets into a new federal corporation, leaving them with a clean slate. the proposal is said to be in the early stage. >>> brand new developments in the summer long saga of marion barry. >> this time is hundreds of pages of e-mails about the work his former girlfriend was doing for his office. matt brock has more on this. good morning. >> follow me on this. we know marion barry was arrested back on july 4, accused of stalking his ex-girlfriend. those charges have been dropped. he hired his ex-girlfriend to work on a contract. now this morning his office spent $225,000 on outside contracts over two years. that compared to his next competitor on the council, kwame brown, who spent about $45,000 during the same time. he spent more money. that is under a lot of scrutiny, as is this e-mail between him and his girlfriend. marion barry has said his former girlfriend donna watts- brighthaupt was well qualified for the contract hi

is it good policy or politics and are the media paying attention to mac badness on the budget deficit. it is far bigger than anyone predicted. did the white house try to sidestep that news with this news question mark sometime reappointing into another term as chairman of the federal reserve. >> plus is that family and a nation mourn a clinical legend, how did the press and of the passing of ted kennedy. smack the president tries to vacation. did late-night comics let them get any rest? on a panel this weekend haul of the american university, andrea antero's conservative columnist and foxnews.com contributor, jim pinkerton, fellow new american foundation and judy miller, writer and "fox news" contributor. i'm jon scott. "fox news watch" is on right now. see mcnamara how you look at it this is a rough time for the cia and we never needed a more than we need them now. >> peter king they're reacting to the news this week that the justice department is planning to look into possible abuses -- abuse of prisoners by cia interrogators. that news came on monday when longtime secret cia docume

t-mac idled at will pay off. i think they white house lost control of the message around this healthcare bill. i turned it over to the house democratic whip the house democrats the most liberal wing of the party. they convey the idea. over the years they've talked about a single-payer system. i think the public has it in its mind that where the democrats are going with this bill is in a very broad sense of direction and i don't think the white house is able to push people off of that idea. someone barbara boxer, the senator from california said that some of these demonstrators -- they're closer to good. they are dressed too well smacked of stress too well see one she is all always desperate well herself. what do you make of that criticism which mark this is just all a republican campaign russian ark. >> have heard a lot of which back from democrats on this coming up with all kinds of reasons for why these are supposedly made up. i think steve makes a point. there may be some people in the audience who have been p

a reorganization of fannie mae and freddie mac. -- the government is weighing a reorganization of fannie mae and freddie mac. no decision has been made to go with the good bank, bad bank issue. that is your business news. live at bloomberg headquarters in new york, i am linda bell. doug and alison, back to you. >> thank you very much for that. 72 degrees. the news continues. >> as the virginia race for governor heats up, one candidate is scheduled to get some presidential support. >> hundreds of documents are released and the show marion barry for outspends his colleagues on the council when it comes to outside contacts. >> live in the weather center, we are watching some showers >> live in the weather center, we are watching some showers pursue the every head. every bite. every gallon. every shoe. every book. every cereal. well, maybe not every cereal. but every stem. every stitch. every tune. every toy. pretty much everything you buy can help your savings account grow because keep the change from bank of america rounds up every d

i'm talking aig, fannie mae, and freddie mac. look at these numbers, these percentage increases up here. over 50%, 30%, 30%. what's going on? the volume has been huge all day. there's a lot of speculation. there's some speculation around aig might be preparing a detect swap with the u.s. government, might lighten their interest expense, but there's no confirmation of that. others note we had a great bond auction, that may have helped freddie mac as well. at any rate, stheekz haven't seen this kind of action in a long time. i'm particularly watching the volume there. financials also strong again. remember citigroup, it's got big volume today because they're being rebalanced on the s&p 500. we saw that on the russell here. that's important. jpmorgan's up nicely here. here's somet

guest mac i had to. -- just mac i had to. [applause] >> host: and why did you have to. >> guest: we already made strides, you know. so it was a natural thing to do. we had to go back, competition is part of life, it's in my soul. and so you know, i tried one, didn't make. try again. and this time more determination and you know, each stumbling block became a stepping stone. [applause] >> host: all right. did you ever feel intimidated when you were running against, did you ever once think maybe not? guest mac no, no, no. never intimidated. i knew the competition with years and i knew that one would have to really find the right strategy to be able to win. but no, i have never been intimidated. i always have confidence in myself. [applause] >> host: all right now. you said during the runoff that you released your secret weapon, that no one saw coming. what was that secret weapon? guest women. [applause] >> host: and what did that secret -- what did those women do? >> everything. from all walks of life, urban women, the illitera

mac, it's been kind of a rough quarter. lo, i'm a mac. of my game. come on, get started you bucket a bolts. pc mag rated mac #1 in customer support. are you just gonna take that? no... pc world's readers called mac #1 in realiability. he's laughing at you. i'm not laughing at you. he's #1 in customer satisfaction. what are you?? okay, maybe we could try some positive reinforcement. sure. you're doing a good job mac. thanks. hey! >>> you love yourself some kid rock don't you? >> i love him. >> do you? >> do not give it away or tell. i love kid rock. >> perhaps no american city has been hit harder by the decline of the auto industry than detroit. kid rock. >> reporter: this is no ordinary concert. it's kid rock performing at his biggest headline show, bringing 80,000 people to his hometown of detroit. ♪ >> reporter: detroit has never seen times like this. but there is an unexpected friend in kid rock. how long have you had this? >> this? probably ten years. >> reporter: you won't leave will you? >> no, i will never leave. >> i got one more

with luck, they will get fixes soon and also snow leopard requires macs sold in 2006. there two radical things. they went for smaller and faster instead of bigger and more. second, if you have the 2007 version, snow leopard will cost you only $30. not $130. and that may be the best feature of all. >> my daughter is a mac devote and told me i have to get off the windows thing. you will never go back again. >> a lot of people say that. >> this is different from windows. when they do a broadway production and much of the fact that they will up great. this is a quiet one compare and david makes the point. >> yeah. it's a decidedly low key event that will be that $30 price tag for the upgrade and looking at the improvements we were talking about in that piece, this is an incremental improvement, but saving seven to nine gigs on the hard drive is a big deal. memory is so important it so many people as you turn your mac into a multimedia entertainment device. that's a big deal as far as how this will sell. analysts and most of this worked into apple stock and $125 million in

but they're things that was trying to do to combat the necessary for example, fannie mae and freddie mac to the economic crisis this is what we were hearing but it is not true. fannie mae and freddie mac did many things but if you read the book i think i tried to explain that there was in fact, the absence from the market bridges that allowed wall street to move and and cause some problems that we're still suffering from rather from their irresponsibility from offering subprime mortgages was tried to gain back the market share that they lost to wall street i do point* the finger squarely at wall street and i do think wall street there are many culprits common many, many culprits but wall street is chief among them and their lack of leadership among so many of the firm's and a lack of understanding of the risk that was being taken on buy so many of the firm's again i focus on maryland very tough but very smart man who ran the firm with an iron fist but ultimately was forced to resign in october 2007. he is an interesting story but it was not even close frankly the risk that was undertaken

to help fannie mae and freddie mac.s a fact. i was in the minority from 1995 until 2006. in 2005 i did not like it in the end because of what they did to rental housing. we were also trying to restrict subprime mortgage lending. we tried to pass a bill to do it. republicans got into a fight. they control the whole congress so how could it be it my fault if no bill passed from 1995 to 2006? in 2007 i became the chairman of the committee. several months after i became chairman of the committee we passed a bill to regulate fannie mae and freddie mac' because it included a special provision for the-income housing. the senate did not pass it until 2008. those are the facts. i did not think it was a it problem until bush increase of prime mortgage lending. what do you think i just said is inaccurate? let me summarize if t and you cn react. in 2003 i did not think they had a crisis. in 2004 are projected it when bush increased subprime lending. the republicans in the senate defeated the bill, wanted a different bill. the chair

. >> what about if you have a mac, mac users? is there anywhere they can go?hey subscribe to the same? >> they can. but there's also apple.com where they have forums and mac uses love to blog about what they're doing and talk about it. you probably find something that's wrong with yours on one of these forums. that's helpful a that's free. >> next stuff is a car. i think my dad spent six hours trying to teach me how to change a tire which i couldn't do. i don't know what's happening nund neath the hood. besides taking it to a mechanic which is going to charge you an arm and a leg, is there any way you can get help online? >> listen to npr. there are two brothers, tom and ray, they're also known to click and clack to those followers. they talk about all the common problems, people call in and ask questions. maybe sothing will ring a bell. also can you go on to their website, action hadn't publicbroadcasting.net/car talk. you'll get some advice from them. there's also twocarpros.com. they're two professionals, they answer 10,000 questions a month on their websit

aig, fannie mae, freddie mac also on the rise. we'll discuss whether there is still an appetite for these risky stocks. this is "the call." we are cnbc. >> stocks trading negative to find better than expected results on both gdp and jobless claims. and the fdic reporting the number of problem banks rose sharply in the second quarter. home builders also lower, after toll brothers reported a widening second quarter loss. right now, the s&p is also to the down side. and the nasdaq is not doing too much better, an over 1% drop for the s&p 500. and the nasdaq is only getting 1995, below 2000, a drop of 1.5%. we have hampton pearson in washtd, bob pisani with the market reaction. but hampton, let's begin with you. >> well, first, here at the fdic, its second quarter banking profile tells us that by the end of june, its list of so-called problem banks was at a 15-year high, some 416 institutions with combined assets of just under $300 billion. fdi-insured banks had a $3.7 billion aggregate net loss in the second quarter, two out of three

let's talk about a big mac. look at the size of a big mac here compared to let's say copenhagen denmark or any other country and four, five, six, seven times the calories here as opposed to another country. we super size it we use the transfats. that stuff has to be cut out because we strangling our hearts. bill: if you are hungry, you don't want to eat some little fish that swims up into the copenhagen peninsula. >> have a burger. i agree have a burger, yeah, but you can have a burger that's not as big and not laced with so much transfat or cooked in so much transfat. bill: freedom is hitting health costs because obesity does take it out on everybody because you are not as healthy when you get sick -- >> can i make a point about that? bill: go ahead. >> you noted, bill, that they are starting to tax things like they have already taxed the cigarettes, the alcohol, probably going continue to crease taxes on that. now that we have been set on fire economically and they are probably going to tax sugary drinks. here

berkshire hathaway, freddie mac. you know last week we spent a little bit of time on fannie mae's numbers, which were not good. freddie mac, a bit of a different story, worth mentioning. 79.9% of the company owned by the u.s. government. there's a look at what is an option on the company in terms of that stub of equity. as for the results, freddie mac reported the first profit in two years. that is right. and it was up last week, of course, like freddie, fannie, aig, cip, a number of short squeezes there. there's freddie, first profit in two years. it earned -- well, it actually lost -- if you take it out before it had to pay the government the interest, it made money. otherwise, it lost 11 cents. that's still way better than what people expected. look what it lost a year ago. net nrk was $768 million, compared to a loss of what's called a $10 billion a year ago. revenue, $7.74 billion. virtually no revenue a year ago. all of the write downs that took place, they take hits on revenue. now, freddie is paying interest

sirius is up as well as is freddie mac. tech is back in the earnings with hewlett packard due to report quarterly results after today. shares of the printer are up almost 20% year to date at 43.66 just today. jim goldman has a look at what to expect from ph. >> real mixed signals from the pc. investors look at hp as much more than a computer company. shares are in the green and saw at tonight's report and analysts anticipating 90 cents a share. that is another eventful quarter and cost cutting will likely keep this company's bottom line performing nicely, but with so many ahead of it, the attention will turn to the top line to see if there was sales growth out there. hp is facing increased competition from the likes of dell and oracle and sun microises as well as cisco now that the company is in the server business. ibm seems to be the model. hp likely won't come out to save flatly and the bottom is behind us. they need to sing an optimistic tune and offer positive guidance to keep the rally alive and that of the broader te