in both cases the president signaling a tough hand on the side ofonsu mary jo white would replace maryry shapiro, when we were going through a financial crisis, brought a background of expertise in financial regulation. mary jo white has a different profile. she is prosecutor, serving under president clinton. has a reputation for toughness and the president is trying to signal na in addition to after 2009, now that we are implementing dodd-frank, he wants a tough cop on the beat. that is also richard cordray's profile. he was not able to be confirmed. he was a recess appointment, because the republicans in the senate blocked his nomination to a permanent job. but the president is counting on his stronger position post election to get both nominations through. with respect to mary jo white, we will see whether the president has enough steam behind him that she can be confirmed on her own or if there a package deal with a new republican seat on the sec, that will be appointed later. >> john, the president is speaking. let's listen in. >> -- depends on smart common sense regulations to pr

this is mary jo white. when it came time to prosecute the people who carried out the 1993 attack on the world trade center, the person who led that prosecution was mary jo white. that was ms. white's first year on the job as the u.s. attorney, the federal prosecutor for the southern district of new york. she is the only woman who have ever had that job in the 200 years that job has existed. one of the first things she did her first year is help prosecute the people who bombed the world trade center in '93. that same year her office prosecuted the blind sheik, omar abdel rahman for his role in conspiring to bomb the u.n. in the wake of the blind sheik case, ms. white created a terrorism unit in her office. no other u.s. attorneys office had one at the time. she was the first to do it. she also led the prosecution against mob boss john gotti. she won the conviction that put him in prison for the rest of his life. several other prosecutors had tried to do that, but had failed to it. she did it. in 1996 she hel

. >> you don't want to mess with mary jo. >> pelley: the president names mary jo white, famous for prosecuting terrorists to the s.e.c. anthony mason reports on new bright spots in the economy. an assault weapons ban is intrawsd on capitol hill. nancy cordes on the bill and its prospects. why is the world's most advanced airliner catching fire? sharyl attkisson investigates. and it came out of the darkness like a ghost-- a giant no one had ever seen alive until now. >> what science fiction writer wouldn't just love it? captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. a lot of americans find it galling that the people who caused a world financial calamity didn't go to jail. they pushed mortgages on to people who couldn't afford them, bundled the doomed mortgages into investments, rated them aaa, aad then sold the worthless packages to investors, including pension funds. remember when the bubble burst? the dow lost more than 5,000 point, 40% of its value. retirement nest eggs were wiped out. nearly 7.5 million americans lost their jobs, and 1

. >> you do not want to miss with mary jo. mary joe does not intimidate easily. >> the second obama administration began with an 19- minute 2114-word address that senate minority leader mitch mcconnell described as an unabashedly left-of-center speech that brought back memories of the democratic party of ages past. >> our journey is not complete until we find a better way to welcome the immigrants who still see america as a land of opportunity, until bright young students and engineers are lifted in our work force rather than expelled in our country. . our journey is not complete until all our children, from the streets of detroit to the hills of appalachia to the lanes of the town know that they are cared for. and cherished. and always safe from harm. >> immigration and gun-control. at his comments on the need to preserve medicare, medicaid, and social security, and you have a good picture of where you want to take the country. how would you grade the president's speech a to f? >> i thought it was a lot better than the first s

if you do not want to mess with mary jo. >> mary jo white is the president's new twist to be the he of. thprident also renominated forr a higher prosecutor richard cordray as the president of the consumer financial protection bureau. what is the message for wall street? >> it sends a message consistent withth the president has said, this is who i am, the the the ople that will best carry out the p policies in my judgment that i think are necessary to clean of this country and make sure we do not go tough it ain. challenging the senate to act and confirm richard cordray and mary jo white to dits constitutional duty. >> good choices, bad choioices colby, based on your banking experience? >> based on experience of my frie who was a former federal prosecutor in new york and those mary jo white, an excellent choice. she will faithfully enforced the law, you can bet on that. >> this is a woman thatt is it does n not slip, as far as i can tell. maybe threree hours a night. she ran this humonus prosecutor's office, a widely respected under both publican and democrats -- u.s. attorney forhe sou

you don't want to mess with mary jo.n said, mary jo does not intimidate easily. that's important because she has a big job ahead of her. the sec played a in protecting our financial system in the worst of the financial crisis, but there is much more work to be done to cleat the task of reforming wall street and making sure that american investors are better informed and protected going forward. we need to keep going after irresponsible behavior in the financial industry so that taxpayers don't pay the price. i am confident mary jo has the experience and resolve to tackle these issues and protect the american people in a way that is smart and in a way that is fair. i want to thank elise walters who has done an outstanding job holding down the fort as chair woman. i expect the senate to confirm mary jo as soon as possible so she can get to work. my second nominee is a familiar face. a year and a half ago i nominated him to lead to give americans the information they need to make a sound financial choice and protect them fr

you don't want to mess with mary jo. mary jo does not intimidate easily. and that's important. because she has a big job ahead of her. the s.e.c. played a critical role in protecting our financial system during the worst of the financial crisis, but there's much more work to be done to complete the task of reforming wall street and making sure that american investors are better informed and better protected going forward. >> reporter: for the last ten years, white has been in private practice defending some of the world's biggest banks against s.e.c. charges. now, historically, these big banks have delayed or evaded s.e.c regulations through better lawyers. in white, these big banks may meet their match. >> pelley: major, thank you. well, a lot of wall street's big names are in davos, switzerland, for the world economic forum this week, and that's where we find anthony mason. anthony, what are they saying about the nomination of mary jo white? >> reporter: well, scott, the thing you have to remember here is the s.e.c. was a laughing stock when it missed the bernie madoff ponzi

it caused a phone call from mary jo white to his superiors.at is how the bankers got away with everything. the person who helped them do that, mary jo wait, the person just put in charge of regulating the bankers. this is a sick joken all of us. if you're not convinced yet listen to mary jo white back in february of 2012. on this panel is lenny brewer, in charge of the criminal division or who was in charge of it at the justice democratic. another guy who says we cannot ever prosecute the banks but also eliot spitzer and leon brow ski. one of side does she go on? >> anymore you've got a financial crisis of the unprecedented dimension and scope of what we've been going through, you're going to have crimes being committed, you should be aggressive where there is crime. what you should not do is fail to extinguish between what is actually criminal and what is just mistaken behavior, what is even reckless risk-taking and not bow to the frenzy. >> cenk: just mistaken behavior. you wouldn't want to bow to the frenzy and prosecute any of the bankers.

you don't want to mess with mary jo. >> reporter: the s.e.c. has struggled to rebuild it's reputation and stature following the madoff scandal and the financial crisis and white signaled she would be an active reformer. >> the s.e.c., long a vital and positive force for the markets has a lot of hard and important work ahead of it. i would welcome the opportunity to lead those efforts. >> reporter: the president says white isn't easily intimidated, a requirement for the job facing the s.e.c. >> we need to keep going after irresponsible behavior in the financial industry so that taxpayers don't pay the price. >> reporter: the president wants to keep another cop on the financial beat. senate republicans blocked a vote on richard cordray's nomination to be the first head of the consumer financial protection bureau. the president appointed him anyway, but that term ends this year and obama wants the senate to act this time. >> financial institutions have plenty of lobbyists looking out for their interests. the american people need richard to keep st

you don't want to mess with mary jo. >> reporter: the s.e.c. has struggled to rebuild it's reputation and stature following the madoff scandal and the financial crisis and white signaled she would be an active reformer. >> the s.e.c., long a vital and positive force for the markets has a lot of hard and important work ahead of it. i would welcome the opportunity to lead those efforts. >> reporter: the president says white isn't easily intimidated, a requirement for the job facing the s.e.c. >> we need to keep going after irresponsible behavior in the financial industry so that taxpayers don't pay the price. >> reporter: the president wants to keep another cop on the financial beat. senate republicans blocked a vote on richard cordray's nomination to be the first head of the consumer financial protection bureau. the president appointed him anyway, but that term ends this year and obama wants the senate to act this time. >> financial institutions have plenty of lobbyists looking out for their interests. the american people need richard to keep st

so i want to thank mary jo, richard and their families once again for agreeing to serve.nvite them to say a few words starting with mary jo. >> give me my stand here. thank you, mr. president, for the confidence that you have placed in me and the faith that you have shown in me by nominating me to be the next chair of the securities and exchange commission. i'm deeply, deeply honored. if confirmed by the senate, i look forward to committing all of my energies to working with my fellow commissioners and the extremely dead katded and talented men and women of the staff to fulfill the agency's mission to protect investors and to ensure the strength, efficiency and the transparency of our capital markets. the s.e.c. long a vital and positive force for the markets has a lot of hard and important work ahead of it. i would welcome the opportunity to lead those efforts and to build on the work of chairman shap ro and chairwoman walters and finally, and most importantly, i want to thank my husband john white here today on our 43rd wedding anniversary. >> today many. >> today. >> a

and i expect the senate to confirm mary jo as soon as possible so she can get to work.iliar face. a year and a half ago i nominated richard cardray to give information the information they need to make sound financial choices and protect them from unscrupulous lenders and debt collectors. attorney general of ohio and long record of working with democrats and republicans on behalf of the american people nobody questioned richard's qualifications. but he wasn't allowed an up or down vote in the senate and i-- as a consequence took action to appoint him on my own and over the last year, richard has proved to be a champion of american consumers. thanks to his leadership, we've made it it tougher for families to be tricked into mortgages they can't afford. we've set clear rules so that responsible lenders know how to operate fairly. we've launched a know before you owe campaign to help parents of students make senator decisions about paying for college. we've cracked down on credit card companies that charge hidden fees and force those companies to make it it right and throu

. >> you don't want to mess with mary jo. >> pelley: the president names mary jo white, famous fory: names mary jo white, famous for prosecuting terrorists to the s.e.c. anthony mason reports on new br an assault weapons ban is introduced on capitol hill. nancy cordes on the bill and its prospects. why is the world's most advanced airliner catching fire? sharyl attkisson investigates. and it came out of the darkness like a ghost-- a giant no one had ever seen alive until now. >> what science fiction writer wouldn't just love it? captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. a lot of americans find it galling that the people who caused a world financial calamity didn't go to jail. they pushed mortgages onto people who couldn't afford them, bundled the doomed mortgages into investments, rated them

you don't want to mess with mary jo. mary jo does not intimidate easily, and that is important because she has a big job ahead of her. there is much more work to be done to complete the task of making sure that investors are better informed and better protected going forward. and we need to keep going after irresponsible behavior in the financial industry so that taxpayers don't pay the price. i am absolutely confident that mary jo has the confidence and resolve to tackle these issues in a way that is smart and fear, and i want to thank elisse walter, who has done an outstanding job of holding down the fort is chairman, and i expect the senate to confirm mary jo as soon as possible so she can get to work. my next nominee is a familiar face could a year ago i nominated richard cordray to help give americans the information they need to make a sound financial crisis and protect them from unscrupulous lenders. nobody questioned richard's qualifications. but he was not allowed an up or down vote in the senate, and as a conse

you don't want to mess with mary jo.one former sec chairman said, mary jo does not intimidate easily. that's important. because she has a big job ahead of her. >> the record that the president, the record the president was talking about there includes her team putting john gotti behind bars for the very first time. it took the teflon off the teflon don. she also prosecuted the terrorist behind the 199 world trade center bombing, including the leader, ramsey juice seven. she, after leaving the u.s. attorneys off became a white-collar defense attorney and her clients included among others ken lewis, the former ceo of bank of america. also today the president renominating richard cordray. richard cordray to be the head of the consumer financial protection bureau. he is a former federal prosecutor as well, former attorney general of ohio and for the last year he has been running the cfpb in a recess appointment, a controversial one. the president tried to get him through the senate. nominated him in 2011. senate republicans

you don't want to mess with mary jo. mary jo does not intimidate easily, and that is important because she has a big drop ahead ever did -- job ahead of her. there is much more work to be done to complete the task of making sure that investors are better informed and better protected going forward. and we need to keep going after irresponsible behavior in the financial industry so that taxpayers don't pay the price. i am absolutely confident that mary jo has the confidence and resolve to tackle these issues in a way that is smart and fear, and i want to thank e lisse walters, who has done an outstanding job of holding down the fort is chairman, and i expect the senate to confirm mary jo as soon as possible so she can get to work. my next nominee is a familiar face could a year ago i nominated richard cordray to help give americans the information they need to make a sound financial crisis and protect them from unscrupulous lenders. nobody questioned richard's qualifications. but he was not allowed an up or down vote in t

i expect the senate to confirm mary jo as soon as possible so she can get to work. >> mary jo white would be the first former prosecutor to head the sec, a critical position for the oversight of wall street. while supporters of bills for her nomination as tougher and financial regulation in the second term, she also brings the job, a resume, of defending top financial institutions as a white-collar defense attorney. her client list includes former bank of america head ken lewis, the board of morgan stanley, and the firm jpmorgan chase. in a statement, the consumer advocacy watchdog group public citizen expressed cautious optimism over her appointment, calling her "tough prosecutor with expertise in complex securities and financial fraud." during his appearance, president obama also announced the renomination of consumer financial protection bureau director richard cordray. >> richards appointment runs out at the end of the year and cannot stay on the job unless the senate finally gives them the vote he deserves. financial institutions have plenty of lobbyists looking out for their interes

attorney mary jo white to head securities and exchange commission.ma's says she will go after irresponsible behavior in the financial and industry. >> you don't want to mess with mary jo. as one former sec chairman said to mary jo does not intimidate easily. that is important because she has a big job ahead for. gerri: i guess you will see. obama is also renominating richard cordray as the head of the consumer financial protection bureau. the president used to reset a point of last year to go around congress. that is something he is fond of doing. his appointment expires at the end of this year. more to come this hour, including the program that congress just can't seem to cut no matter how hard they try. next may 5-year high for the s&p and a five-year low for jobless claims. this recovery starting to finally take hold? all ask some economists. there he is right there. ♪ hey, buddy? oh, hey, flo. you want to see something cool? snapshot, from progressive. my insurance company told me not to talk to people like you. you always do what they tell you?

is a seasoned prosecutor, considered one of the best white-collar lawyers in the country, but is mary joight person to lead the agency? charlie gasparino probably doesn't have his own opinion but you have spoken to somebody that does. >> i have spoken to a lot of people that do, people that were in law enforcement, people that have worked at sec, people that like mary jo white. she was a very good prosecutor. she was the u.s. attorney for manhattan. that is the lead prosecutor agency of all the u.s. attorneys. do most of the big white-collar cases, do mob cases, terrorism, you name it, mary jo white has been there, very good prosecutor. republicans and democrats like her. the question is, does she have the right skill sets and i'm not saying intellect but it is a skill set, the way of approaching the job that should make her the head of the securities and exchange commission, which is a regulator, not necessarily a prosecutor. there's an office of enforcement in the securities and exchange commission that often prosecutors will get the job there. you know, that's where prosecutors, becau

president obama said, you do not want to miss with mary jo. president obama had an unwelcome visitor while announcing the information. >> this guy is bothering me here. >> secret service, take him down. >> this guy is bothering me. get out of here. >> it is 5:55 and 19 degrees outside. >> coming up, a look at what is hitting the big screen. arch campbell has a preview of quartets. [ male announcer ] now at your neighborhood subway: the big hot pastrami melt. we've perfected the pastrami sandwich -- filled with juicy pastrami pickles, yellow muststard and melted cheese. all piled-high on freshly baked bread. taste one at your local subway today! subway. eat fresh. >> and the movie hopes to make sweet music at the box office. >> arch campbell has a look at it. >> good morning. maggie smith does it again in herma new movie "quartet." it finds a retirement home for musicians in france where maggie smith comes to retire only to discover one of her many unhappy ex-husband in residence. an annual gala must save the place. can they talk her into perfo

mary jo white has been appointed by president obama.needs to be confirmed i believe by the senate. you are going to see that same mindset continue. wall street should expect these enforcement actions to basically keep coming. liz: separate of that, i've seen a lot of questions about this, that the sec when they nail certain wall street firms, they get their fines, but there's no admission of guilt or anything like that or denial, just here's the money. should that change? >> i don't know. there's two ways of looking at it. you really do want the wall street firms to pay up -- liz: to pay up. >> if they admitted wrong doing, that would open the floodgates for civil civil litigation where they would be put out of business. is that right? this is a debate we can have all day. the financial crisis occurred. there was some fraud involved. it's always been my opinion. but the reality is guess what? irrational exuberance is not a crime. that thing was based on a lot of hype and bubble mentality. that is usually stupidity, not crimes. liz: a lo

mary jo, good morning.ng you had a few problems with what we heard from the president yesterday. >> well, kelly, it wasn't exactly the inaugural address that i would have written, but, you know, the president delivered it well. the crowd reacted enthusiastically, and now it's time for the nation to get to work. >> what about, mary jo, this sense of coming together, which is the great hope that obama would unite the country? i think people have gotten cynical about those prospects. is that right? >> i think the tone has certainly changed over the last four years and also if inaugural address yesterday, it was not exactly a hands across america speech. >> a lot of people were criticizing the speech for being general. inaugural addresses don't necessarily go down in history as being some of the most memorable in the world. if anything, it's perhaps interesting to look at what was happening in the last week so so with the republican side of the aisle. what is its future going to be, now if they're going throw f

attorney mary jo white was picked by president obama yesterday. money lawners and terrorits. mr. obama says she'll be a toughen forcer on wall street. >> you don't want to mess with mary jo. as one former sec chairman said mary jo does not intimidate easily. that's important because she has a big job ahead of her. >> the president says he's depending on white to take on what he calls irresponsible behavior on wall street. >>> republican party leaders are searching for the way forward, democrats are facing new struggles within their party. with us bob schieffer, chief correspondent and host of "face the nation." he's also been nominated as an inductee into the hall of congress. congratulations. >> well, if you live long enough. >> it's more than that. two big ideas, one, what's happening in the republican party and what do you make of republicans saying the president wants to annihilate them. >> well you heard haley barbour early this morning. i think he speaks for a lot of republicans when he said we thought this was an election we should have won

is mary jo white the right woman for the job?ters on the investigation into boeing's dream liner. we'll have the latest on that ahead. as we head out to break let's look at some winners and losers on the s&p 500. we'll be right back tracy: president obama is moments away from announcing his latest nominations. peter barnes will join us with the details. first let's take a look at the dow quickly. it is almost near its all-time high. 14,164.53 was the high on october 9th, 2007. we are very, very close now. the dow is at 13,820. ashley: we're getting there. >> sure are. we'll go tore nicole first. nicole is standing by with keith bliss. >> no one loves the graphic more than i do. it is exciting to watch how close we are to all-time highs, keith. some of the traders i have spoken with, the high we saw today, 1,877 was a peak at least for now. do you think that is the case? >> for me it is too early to call that. a couple weeks ago i thought we would be overbought at s&p 1490. this coincide with that. >> which way are we going? >> we

attorney mary jo white to be the head of the securities and exchange commissioner, the first federalrobation report to hold the position of chairman of the fcc. she has a reputation of having very stuff. formally was the u.s. attorney for the southern district of manhattan which includes wall street, but she didn't do a lot of financial crime prosecution investigations there. she was known more for her work fighting the mob and fighting terrorism. for example, her team is the one that timely put john goddy behind bars, took the teflon and prosecutorred the 1993 bombers, and she's now a white collar defense attorney with clients of former bank of america ken louis for example, and the president talk about her reputation for being tough. take a listen. >> in the early 1990s, she brought down john gotti, head of the gambino crime syndicate and brought down the terrorists responsible for bombing the world trade center and the american embassies in africa. i'd say that's a good run. you don't want to mess with mary jo. >> the other nomination today was a re-nomination, richard cordray to

he has nominated mary jo white to lead the securities and exchange commission. she spent a decade prosecuting white-collar crimes. her experience mr. well- positioned to implement the president's reforms on wall street. it is the amount that has sparked national conversation. military women will soon be moving to the front line of combat. outgoing secretary of defense leon panetta is expected to lift the exclusive -- exclusivity ban. it is an opportunity but is also stirring controversy. >> today the pentagon will announce it is listing the -- lifting the two-decade and of not having women on combat role. recently the front lines of or have been blurred. women already make up 40% of the 1.5 million active-duty personnel. more than 100 women have died in afghanistan and iraq. congressman tami duckworth was a helicopter pilot who lost both her legs serving in iraq. >> women have been in combat. in fact, many have been awarded the purple heart and combat action bench, both of after engaging in direct fire from enemy forces. >> under the new policy, womenwill offici

i'm absolutely confident that mary jo has the experience and the resolve to tackle these complex issues and protect the american people in a way that is smart and in a way that is fair. >> white served as a u.s. attorney in new york and led investigations on financial crimes and terrorist attacks, including the 1993 bombing of the world trade center. white said she'll devote herself to protecting investors and ensuring the transparency of u.s. capital markets. the obama administration is pushing for financial reform to avoid a recurrence of the financial crisis. japan's toyota motors and bmw group have teamed up. executives from the two automakers announced the collaboration in japan. >> we have high hopes for this project as it promises a bright future for cars. >> they hope to create a fuel cell system including a motor, battery and hydrogen tank by the year 2020. they will develop next generation batteries that are expected to be more powerful than the current lithium batteries used in electric vehicles. toyota and bmw will decide by year end on a method to merge their technologies t

. >>> president obama has announce ed 2 more nominees to its staff, mary jo white has president of the exchange commission, she won convictions for the 1993 world trade bombing and put john gad i in prison. she would be -- gaggi in prison. >>> the legal battle over those brats dols has taken another term. -- dolls have taken another turn. >> mattel originally sued mg assaying it society its idea but a jury found in waiver of mga. the counterclaims should never have reached the jury. >>> san francisco twitter launch aid new video sharing service. it allows users to record 6 second long loops which can be imbedded in tweets. the brevity will inspire users. >>> you need to clean up your image? a new app will let you delete questionable posts that may help you on a job. the app serves your facebook profile for inappropriate comments. then able to delete those items in that serve. >> manti te'o spoke how much he knew about the des epz. the 21-year-old -- deception talked to katy cuoric. >> he only learned of the hoax after the person he thought she was, called him months after he believed s

mary jo white is a former u.s. attorney nope for going after white collar crimes. >> "usa today" says states are scrambling to find money to pay for highway reparis. massachusetts is considering raising the state's gasoline, sales, and income taxes or imposing a tax based on how far someone drives. virginia wants to end its gasoline tax and increase the sales tax instead. >>> and "the washington post" has details of a new strain of norovirus. it appeared in australia last march and is spreading in britain. here in the u.s. it's caused 66 outbreaks in november. it's res >> announcer: this national weather report sponsored by new pantene. healthy makes it happen. deaths each year. >>> the search engine that is searching you. googles is handing over more information about its users to law enforcement than ever before. what they're looking for and if you need to worry. >>> plus sat lake city is known for snow, skiing, and now smog. >> if you see it, you probably don't want to be breathing it. >> we'll show you why the

you see it with mary jo white going in as fcc director. anything that will help the financials. it says of human capital, the report, solid earnings that going forward you need that risk component and it is just not there right now so i question where the revenues are going to be. great to sell to the strength but i would go on the sidelines for the foreseeable future. cheryl: i could understand your trepidation about major financials. what about regional? the biggest and strongest performers of 2012. that is the piece of the financial pie that you like. >> that is the wild card. i would say go to this regionals. and the banks are good one. they took over a ton of these mortgages from wells fargo and able to turn around. they were profiting very well. a great company and look at bankers in taxes. they have done exceptionally well. if you want to concentrate on those regionals those would work well. cheryl: you don't hate everything, you are a nice guy, you do like consumer discretionary. i do wonder, one of the better sectors of the year,