was mccullough looking over your shoulder in this? >> i appreciate you asking me about mccullough. is there a conspiracy of publishers, i mean do you guys all get together and say, you know, let's make the revolution hot, and so everybody gets together and writes -- i was not aware of david mccullough's book, and i was thrilled that it's receiving the attention it's receiving. here's a message to hollywood, john adams' biography is a number one best seller. it's not about his affairs and all this bogusness, thank you american public for recognizing that. i'm thrilled with that book. as i said in some interview that, i'm so happy that new york considers this valuable, and that new york cares enough and believes that the public might actually buy these books. because that's the only way these books get published. david mccullough certainly proved that he has taste, certainly taste in characters. i have not met the man, but i understand he spent a lot of work on this. >> i had no control over the filming, i have mentionedbio of had to get my permission for things. that's not the way i

keith mccullough, thanks very much. some breaking news, not a great one. moody's downgraded three european country, that being italy, spain and portugal, but the news was better on greece. the parliamentary -- all despite the usual street roadway on thes and lawmakers did do their job and the least in the short run seemed to be saving the nation from immediate bankruptcy. let's see if it can last. let's go to our guest, harvard professor and economist jeffrey frankel. okay. it reads better. the parliament got its job done. both the center left party and the center right party participated in a lob sided vote to pass the package. will it last, jeffrey? that's the -- i don't know, $10 trillion question. will it last? >> well, larry, it's not going to be a smooth road from here, but it's a good step forward. you'll have these at different rounds. as unpopular as it is on the street. they have to do their part and the bankers and creditors have to do their part with the haircut and the servicing obligations. >> do you think the political leadership of greece a

mccullough vs. maryland. the power of taxing the people and their property is essential to the very existence of government. may be legitimately exercised on the objects to which it's applicable to the utmost extent to which the government may choose to carry it. the only security against the abuse of this power is found in the structure of the government itself. and imposing a tax the legislature acts upon its constituents. this is in general a sufficient security against erroneous and owe preff taxation. if you did not like this, vote the bums out. i personally don't much like many aspects of this law. as a matter of policy. i personally would have preferred to see a lot of tort reform and malpractice reform in the thing. my wife is a physician. and we've been sued in malpractice. my brother is a physician and he's been sued. my mom's a physician, my dad's a physician, i don't like major portions of this as a matter of policy. if you don't, vote them out. but we voted for president obama and his party in th

joining me is keith mccullough, founder of hedge risk management and art hogan, managing director of lazard. keith, start with you. if there's a big romney victory tonight, do we get the positive romney dollar or does that get drowned out by the falling bernanke zero interest rate 2014 dollar? who's going to win this dollar battle, keith? >> it's a massive tug-of-war. you're dead right on that, and i do think the dollar is up front running with a romney win and everybody sees that coming and maybe dollar strength ahead of that and dollar weakness immediately after that, what really happened is that the dollar just collapsed after bernanke effectively sent this ridiculous 2014 forecast. his forecasts are horrendous to start. now he's going out even further and he's basically saying to savers and consumers in america, savers in particular, you can sit on it and rotate because you will not get a rate of return on your savings account until as far as the eye can see and at the same time the bernanke taxes, immediately gets price into inflation expectations and you'll pay for it at the pu

customers activities for eighteen months just in case police want to review them in the future second mccullough have seen it pointed out this only covers i.s.p. so anybody who gets to the web through a wireless router like say anybody to a web cafe or they wouldn't be tracked by anyone else who goes through legitimate i s p's could get screwed over here just think about holding on to all of your information all of your web history just in case police want to see everything you do online and a scary some even say it is the law enforcement to circumvent the fourth amendment meaning that your right to privacy from police goes out the window because see the thing here is that it's being sold as all the name of protecting the kids the name of the bill would make you think that it's all about protecting the kids of those bad guys on the web when you actually look at what's in the meat of the legislation you realize of the title is very misleading as the legislation is slowly gaining support and it's already made that a committee were thankful to report that the online community is also noticing what

dignitaries and family members turned out to see what was named after someone who grew up bernard mcculloughwas huge but he never forgot his roots ... he always referred to chicago as his home ... >>hull bittersweet this is bike to able to be stand in here right now and be able to show my daughter his granddaughter something that honors him warms my heart >>bernie mac found a foundation that worked to find a cure for the disease that killed him ... >>navy pier is offering special discounts this year in honor of leap year people will be able to enjoy free rides on the ferris wheel and free parking on wednesday as well as 29¢ admission to the chicago children's museum the museum of science and industry is also offering a few special discounts this wednesday the museum is offering free general admission for people who live in illinois about the science of leap yea late february typically means that we have to get out our snow shovels ... >>well that will be true in the upper midwest there are 16 in. of snow on their way to the twin cities ... upper michigan and the dakotas will be getting big s

and especially the diaries. 6,000 pages worth of diaries. 19 binders, and people like david mccullough said the reason these are valuable as they were put down as things happened. so i was at the white house talking to gorbachev or saddam hussein, and he took notes and then he dictated it into this diary that in the up being to plead for million words. [inaudible] [laughter] so, we set sail for the united states, and al said how long is this going to take? i said about a year. that was in 2005. [laughter] i said something that's really important, people know that i worked for you and i was loyal to you, and you've been my friend for half a century. bigger going to expect this thing will be a puff piece, and it's very important a not think that after they read it. so i said, you know, this is going to be important that i tell the bad things and the failures in balance along with all of the success. and al said look, you just do the right thing by telling the truth. he said if hair, lilos and keithley and on the floor as a result of telling the truth about me, so be it. [laughter] i also

chicagoans receive having a street named after you a special tribute for the late bernard jeffrey mcculloughmajor accomplishments. batt but such an honor to have him on board on the street he grew up on. great honor to dead about growing up a poor boy in ankle but limited education devoted family man taking pride never forgetting chicago routes. for that reason bernie mac became a role model for children who look up to him >> we see the results right on television the result of the process. do not see the practice of the investment >> he was a dreamer who never give up on his dream no matter what he has faced in life he kept his dreams held his dreams and determined he was going to chase every one of his dreams >> went on to be star of stage and screen and comedy stand ups. audiences all over the world all ages and career soared until his death. august 2008. his widow and daughter choking back tears said bernie mac of a kind >> please accept heartfelt appreciation for the love you had a four bernie mac sharing moment of history with us to stand here right now street named after him granddaug

i've been very fortunate to be working with a guy kevin mccullough.he political part of it. i have an opinion. for me, so much of the powerful transition and effect that really, really going into my faith has caused, until you walk in my shoes and explored this thing as intimately as i have, all i can say it's real. it has an impact. with that in mind. kevin has been a great learning curve for me. what is odd, kevin and i believe for all we do with our radio show and marking company and voicing our perspective, we like to try to within reason and within communication win people over to our perception and our understanding. there is a lot of people on the left that is progressive and liberal, they appreciate family values. they are people of faith. we strive to try to find the bridges of connectivity as much at we can. >> sean: i can

>> the most important decision that the supreme court ever issued is mccullough versus maryland. the take them seriously everything that they said is clearly wrong. clearly. here is what john marshall says. the argument is that this creates a corporation and it is special. marshall says wrong. he says of for reasons such a applicable. the corporation has already been created under other causes. why not here? george washington signed his name to individual mandates. i will read the language before the end of today. here is what he says about the limiting principle. q government tax me? yes. can they take money and buy stuff with it? yes. the only security and the abuse is against it itself. the act upon the constituents. this is sufficient security. if you do not like this, vote the bums out. i personally did not much like any aspect of law as a matter of policy. i would prefer to see a lot of torts reform. my wife is a physician and we have been sued in malpractice. my brother has been sued. i do not like this as a matter of policy. if you do not, roll them out. we voted for pres

. >> caller: last summit talk to you was david mccullough. >> isn't this a great country?every state is so different and the earmarked talk about the differences between new hampshire and vermont, we always summer in maine which is a very independent state, former governor kean of men who is independent got me to start reading tom friedman's book and columns and mean as two women senators and the girls wonder if you can be a man and a senator. completely different from new hampshire and vermont. when we travel to new hampshire this summer when the flooding was just terrible in vermont and new hampshire everybody came together to help. they truly came together even though murder for montand in new hampshire are quite different. in the parking lot at white river junction all the people were helping with flood victims. i wondered if mark steyn could talk about saint-gaudens national park. >> host: that is south of day. that is a beautiful part of the world. not far from where j.d. salinger used to live. i doubt very much he did three hours with peter in depth because he was a

he is sergeant philip mccullough, junior, being recognized for amazing bravery doing a six-hour battleh the taliban last year. the enemy surrounded his unit, firing from all sides and the sergeant leading his squad in the counter attack, take a look at this very special ceremony today. >> after six hours of fighting and himself wounded in the leg, he returned. by his bold leadership, judgment and dedication, sergeant mccullly upheld the highest tradition of the marine corps and united states naval service. >> eric: he says he systems it on behalf of all fallen warrior, quote, he says, for my brothers who aren't here anymore. arthel? >> arthel: indeed. valentine's day is almost here and i'm told you're supposed to scrap the flowers and candy. we've got gifts for that special person in your life, going high-tech. "consumer reports" joins us with some great gift giving ideas. here is a sample coming up next. . i wasn't eating well. she's a dietitian, and she suggested i try boost complete nutritional drink to help get the nutrition i was missing. now i drink it every day and i love the gr

. >> keith mccullough. >> short hapes brands, awful quarter today. i'm melissa lee.:00 for "options action" followed by "money in motion" at 5:30 eastern time. don't go anywhere, jim has a trifecta of

that's the keith mccullough argument. that would do it if you think the dollar's going to absolutely collapse. >> no, larry. in fact, i am long the u.s. dollar as of this week, a position i've just been putting on in recent days. i think the dollar decline is overdone 37 so i'm long the dollar but also short shares. and i do not believe that the international risks are gone. and by the way, i don't think those risks are just in europe. when we look at china, we got some foreboding inflation data out of china. china has slower growth, higher inflation. that is a toxic combination. i think international risks -- >> we're going to have higher inflation, too. >> well, you know what? larry, the thing about it is i do agree that the long-term problems are not solved. but this market, we're in an election year. there's $2 trillion of liquidity in the europe between their various central banks if you want to speak. the fed sin tent on keeping liquidity low here. we are poised for, you know, fine growth and the market's undervalue

>> the most important decision that the supreme court ever issued is mccullough versus maryland. the take them seriously everything that they said is clearly wrong. clearly. here is what john marshall says. the argument is that this creates a torts reform. my wife is a physician and we have been sued in malpractice. my brother has been sued. i do not like this as a matter of policy. if you do not, roll them out. we voted for president obama and his party and they said they were going to do this. that is what they did. if he did not like it, we will have another presidential election contest. the limiting principle is that they are taxing us. they are making us pay. if they do a cash for clunkers, i do not think they will because there is no room for it. we do not need constitutional lawyers and judges pulling principles out of thin air to limit the ability of congress to pass a loss on cash for clunkers requiring you to buy a car. congress will not do it. there's not a need for its. if they do do it, i want to see why they do it. there maybe a reason for it. mike talked about con

this is to the point from the call-up. -- from mccullough. what the chief justice said is that the taxing power is brought power and that once you have the government exercising the taxing power there will not be a lot in court to limit the power and get the taxes too high for that it is some doubt impermissible. all that is fair. the limit on the taxing power has to be structural and has to be people who are the taxpayers. that is as likely what the people said. that is why in earlier versions congress contemplated something. -- doing something quite at similar by expressed use of taxing power. they backed away from it. the people did speak. the massachusetts election. senator scott brown. the people who passed this law and congress knew full well there not the votes to do this. they use the mandate. it is a sneaky tax. it avoided the tax label, which the president made clear it was credible -- critical to get past. it is not on any group of people you'd otherwise rationally say to be subject to a tax, like people who are high income people

them to collaborate is important brigid lot of -- is important. 2 hearken back to what admiral mcculloughormation sharing at all sorts of different levels and with a number of different points of endicott -- entries so it is easier for the government to share information across the board. i believe the insurance question -- i will leave the insurance question to others. >> what about small and medium- sized businesses? we are talking about the owners and operators >> absolutely right. i think the legislation -- owners and operators. >> absolutely right. i think the information sharing bill is a huge part entities from small, medium, large. in some of the other bills you see pushing for research and development, pushing for workforce development, national cyber scholarship program, putting out performance standards more broadly, not just entities. also working on international standards -- all of these things are present within the legislation. >> one more thing, the car out for it. can you explain that very briefly in your bill? >> i do not want to take ownership of it or anything, but i

let's bring in keith mccullough joining us from hedge eye with a view on greece.not what you'r clients were focused on, but what do you make over what you've seen over the weekend? >> burning buildings is definitely not going to stimulate growth. pretty sure about that. it's pretty sad to watch. the reality is that this is all part of the keynesian bubble. we've had a bubble in japan, a bubble if europe and now we're developing one here with this budget deficit. you can see it doesn't end well. at the end of the day, inflation slows growth. i think that's going to be ultimately what you see across europe, never mind in greece, with oil trading at $119 a barrel brent. >> as we watch the regulators in europe obviously fight hard to keep them in the fold, does that suggest to you that contagion is -- would be worse than we think it might be? >> i think you're right, like certainly thinking about it on different durations is important. there's tremendous political pressure for politicians to be political. and that's probably why they like john mainer kane so much. the

in san diego red sergeant mccullough received the silver star.highest medal for valor and combat. last year at 22, he led his infantry unit flew a six-hour firefight with the taliban. he was praised for his leadership, judgment, and dedication. right now he is a drill instructor. >>> time is 8:20. amp a slow start to winter it's not expected to get much better for the ski resorts. forecasters have to say about the rest of the season, we'll center that for you coming up in just a bit. >> cloudy, damp start to the day even a little fog reported over parts of north bay. giving a lie live look from san rafael. whether you're going to needle umbrella for saturday when we expect the showers to end, coming up. [ mom ] hey guys. guys... [ female announcer ] pillsbury cinnamon rolls with cinnabon cinnamon are an irresistible sunday morning idea. nothing calls them to the table faster. sunday morning ideas made easy. and these are the ones you'll love on a school night. pillsbury ham and cheese crescents. with just a few ingredients, you have an easy dinne

last time we talked to you is when david mccullough was here. >> all these great authors. isn't this a great country? every state is so different and to hear mark talk about the differences between new hampshire and vermont, we always summer in maine, and i think maine is a very independent state, former governor king of maine, who was independent, got me to start reading tom freedman's books and columns, and of course maine that two women senators, and the girls in maine wonder if you can be a man and a senator. it's completely different from new hampshire and vermont. i must say, when we traveled to new hampshire this summer, when the flooding was just terrible, both vermont and new hampshire, everybody came together to help. i mean, they truly came together, even the vermont and new hampshire are quite different. in the parking lot there at white river junction, all the people were helping with the flood victims, and i wondered if mark could comment about the wonderful national park. >> guest: that's a little ways south of me in new hampshire, and was an artist colony a

the most important decision that the supreme court ever issued on the scope of federal power is mccullough vs. maryland. if you take the public seriously, everything that michael and paul said is clearly wrong. clearly. here's what john marshall says. by the way the argument, this -- bank is a corporation, it's special. it's an individual mandate. marshall says wrong, wrong. he says it for reasons that are applicable here. corporation for example, he said created unother clauses of the constitution, why not here? we had individual moon dates. george washington signed his name to individual mandate, militia asket 1972. we had individual mandates, i'll read you the language before the end of today. you can have it for that. but here's what john marshall says about the limiting principle. by the way can government tax me? yes. can it take that money and buy stuff with it? yes. once it has bought something can it give it to me? yes. if it can do those three things as a matter of logic, why can't you cut the middle man out? when he has, either of them has a one sentence or one paragraph argumen