in 1930 mellon was presented with an extraordinary opportunity. the soviet government agreed to sell two of their best raphaels. one was the alba madonna, for which mellon offered the highest price ever paid for a painting up to that time. the other was raphael's small saint george and the dragon, an early work with an illustrious history. along with the rest of his collection, mellon's three raphaels formed the nucleus of e national gallery, founded in 1937 and opened to the publiin 1941. president franklin roosevelt: "this national gallery and the collections it contains..." narrator: the raphaels in the national gallery were joined by another painting by the artist, the portit of bindo altoviti, purchased by chain store magnate samuel kress. on berenson's recommendation, kress bought the portrait from a european museum. today, it is generally accepted as a work by the master's hand. it was not only nostalgia for the past which led american collectors to pursue raphael, nor was it merely rivalry with each other. these collectors shared a sense o

in 1930 mellon was presented with an extraordinary opportunity. the soviet government agreed to sell two of their best raphaels. one was the alba madonna, for which mellon offered the highest price ever paid for a painting up to that time. the other was raphael's small saint george and the dragon, an early work with an illustrious history. along with the rest of his collection, mellon's three raphaels formed the nucleus of e national gallery, founded in 1937 and opened to the public in 1941. president franklin roosevelt: "this national gallery and the collections it contains..." narrator: the raphaels in the national gallery were joined by another painting by the artist, the portrait of bindo altoviti, purchased by chain store magnate samuel kress. on berenson's recommendation, kress bought the portrait from a european museum. today, it is generally accepted as a work by the master's hand. it was not only nostalgia for the past which led american collectors to pursue raphael, nor was it merely rivalry with each other. these collectors shared a sen

am asked roger welcome back to the kaiser report trying not to go to new york and speak with bart mellon uncorrelated investments mark welcome to the kaiser report thanks max good to be here all right mark now it's been five months of global collapse what do you know about what crimes took place what are the unmentionables who are the untouchables the unmentionables and the untouchables max i don't think we have enough time for that but let me just give you some of the headlines i was in d.c. i was speaking to a number of people i heard that a finra investigator had actually said to me that they counter parties which is one of the unmentionables and off global has some very interesting aspects of it that should be investigated you know my big question is is there an investigation going on there is clearly indications of fraud as mater of fact in congressional testimony the chairman of the c.m.e. group noted that documents were falsified from m.f. global to the regulators i don't know it seems like that's fraud to me but there's no fraud investigation here and it appears. trustee louis fr

the state says it no longer requires the services of bank of new york mellon and state street following a lawsuit. we'll talk to the machine who issued the banks their walking papers right after the break. >>> ohio has cut >>> ohio has cut ties with bank of new york mellon and state street. last week ohio filed a lawsuit against them accusing the bank of overcharging the funds in currency transactions. this follows legal action by several other state and the justice department, as well. joining us to talk more about will is josh mendell, ohio state treasurer. let's start with the lawsuit that's been filed. obviously you are trying to protect the people of ohio who have invested all this money in pensions and we've seen a lot of fraud really destroying the system here in the united states. tell me how you first sort of learned of this and what let you to file the lawsuit. >> it actually started when i was running for state treasurer. this was a couple years ago. we saw some unethical activities in the treasurer's office in respect to state street bank. and we asked a lot of questions of

do it for this edition of the kaiser report with me max kaiser and i want to thank my guests mark mellon is going to send me an e-mail please do so at kaiser report at r t t v dot are you know it's a nice time x. guys are saying. things . emission free cretaceous free in-store charges free arrangements free. free spirits free. download free broadcast money over for your media projects a free media and on to our t.v. dot com.

a former mellon man is returning to a court room.he is trying to get his sentence modified before judgment. barry simms has the details. >> in the court motion, matthew miller claims he's of his punishment and wants to put this matter behind him. parents of the victim believed that he has had leniency. >> angela and charlie ryan know it will never get over what happened to their child. now the must go to court and deal with the trauma. >> it is difficult and reliving this in dredging up the intensity of the grief that we felt in october of 2007. >> that is when their son was killed in a hit and run accident. the man convicted in the accident, matthew miller, plans to return from denver where he lives with his parents. he wants a baltimore county judge to reconsider the charges and sentence. nearly four years ago, he pleaded guilty to manslaughter by vehicle. he wants to have reduced to probation. >> this is running away from your past and your record. >> charlie ryan and the prosecutor are opposed. >> this was egregious. he left the

then, earned a master's degree from carnegie-mellon in pittsburgh pennsylvaniamy work . spent time as an executive director for nonprofit on the hill. i was assistant to a wonderful person named julie middleton. the park that worked at was formally known as the hunters point community foundation. we did several programming for kids in the neighborhood. i also have a background in politics on both sides of the day here in san francisco and oakland. i have done fund-raising for different candidates. i have work experience with the federal reserve bank of san francisco. i am most proud of the work i have done for myself. i started a business called power forward, a social media and public policy consulting firm. >> why did you choose to return and live in san francisco? what motivated you to run? >> what motivated me was my love of san francisco. i see the changes that are happening. i see people picking cans out of the garbage. i see that there is no neighborhood grocery store. i see that small businesses are coming and going. they have not been able to sustain themselves.

carnegie mellon conducted an independent assessment of the dib pilot for dod and concluded that nsa provided few signatures that were not already known to the companies themselves and in many cases the dib companies by themselves detected advanced threats with their own nonsignature-based detection methods that probably is not known to the nsa. and so we need to hear from general alexander on his view of those issues as well. we thank you both again for your service, for your being here this morning and we call on senator mccain. >> thank you, mr. chairman. let me thank our distinguished witnesses for joining us this morning and their many years of service to our nation. u.s. strategic command is in the midst of pivotal change has we proceed why the modernization of the nuclear weapons complex and nuclear try add and further imbred cyber defense and cyber attack and the core mission competencies of 21st century warfare. nuclear modernization i'm encominged even with the unpress didn'ted level of defense spending uncertainty, the department has maintained its commitment of modernizing the try

carnegie mellon conducted an independent assessment of the dib pilot for dod and concluded that nsa provided few signatures that were not already known to the companies themselves and in many cases the dib companies by themselves detected advanced threats with their own nonsignature-based detection methods that probably is not known to the nsa. and so we need to hear from general alexander on his view of those issues as well. we thank you both again for your service, for your being here this morning and we call on senator mccain. >> thank you, mr. chairman. let me thank our distinguished witnesses for joining us this morning and their many years of service to our nation. u.s. strategic command is in the midst of pivotal change has we proceed why the modernization of the nuclear weapons complex and nuclear try add and further imbred cyber defense and cyber attack and the core mission competencies of 21st century warfare. nuclear modernization i'm encominged even with the unpress didn'ted level of defense spending uncertainty, the department has maintained its commitment of modernizing the try

the post of president quite a few people among his associates for weird practices one of them yuri mellonas a professional psychic. said it was possible to improve ratings summit size that they would be beyond the reach of opponents give me forty five minutes of any maintain the states and the certain candidate would be elected as this is called the management of the collective mind the management of the audience. please of the nine hundred ninety six elections president yeltsin was going out of his way to demonstrate that he was physically fit from the time of peace he was indeed elected for a second stint but he paid a price for his exertions. needed heart bypass surgery it was decided that the complex operation would be performed in russia it lasted several hours cardiac surgeon or an epicurean was in charge of the team of doctors. everyone thought that yeltsin would not survive that operation that because of all the stress the contraction function of his heart was a ruin. the only person who said there was a chance of success it was me. i said that we should prepare him for the surger

borders and in washington we go to jendayi frazier she is a distinguished service professor at carnegie mellon university hines college and department of social and decision sciences all right folks this is crossfire going to use you can jump in anytime you want and i often go to you first and wondered what was your reaction to this documentary because i watched it very carefully twice actually for its production value and for its editorial value production value i'll give it a ten out of ten but for what its message was i was very good pally disturbed by it because i walked away from it not being an expert on africa but i felt it was of a exercise in very sophisticated propaganda that has very has many hidden agendas. yeah no doubt about that as was a slick video i think the makers got it from the mentally wrong when the video seemed to be stopped in a particular time which is about ten years ago. of course and was very very active in uganda and clearly he doctrine of children the the the war itself was physically happening very different from the uganda that we know today which is very much

and there's a famous statement by andrew mellon, who was hoover's secretary of the treasury. liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. sounds pretty heartless and i think it was. but what he was trying to convey here is we've got to get rid of all the excesses of the '20s and bring the country back to a more fundamental, sound economy. all right. so what i wanted to get into here in the last few minutes is what was the fed doing during this period? unfortunately, the fed met its first great challenge in the great depression and it failed. body on the monetary policy side and on the financial stability side. on the monetary policy side, basic bottom line here is that the fed did not ease monetary policy the way you would expect it to in a period of deep recession. for a variety of reasons, because it wanted to stop the stock market speculation, because it wanted to maintain the gold standard, because it believed in liquidationist theory, for a variety of reasons, the fed did not ease monetary policy, or at least not very much. and so we d

number one, the carnegie mellon study that i referenced earlier has determined that you cannot -- most consumers cannot even access these do not track mechanisms. so that's one reason. and the second reason is because these big entrenched companies i'm concerned about -- that in terms of self-regulation that they will use self-regulation privacy as a tool, as a weapon, if you will, to preserve their positions and against entry by smaller rivals. i'm concerned about that. >> commissioner, thank you. and i share similar concerns that whenever we allow the strong force of government to enforce, as was the term that was used here, that has not been ratified or approved by members of this body but only rules of engagement by a private sector, i think we should all be cautious of that. >> thanks, mr. graves. given the fact that most of the time voluntary turns into mandated at some point down the road, it does make me nervous at the same time. one question that i'd like -- it's not a question. one thing i'd like to ask you all to do, we all have record of questions for the record. we'd like

bring you back on to talk about the carcass thank you the vultures are for now that's it with mark mellon mark millennia excuse me host and author thank you. so i say. hello and lists sixty. all right it's friday time for viewer feedback we took a little break last week but we are back because there's so much to respond to turbo trana one said such an informative show i asked my dad when i was ten which is about thirty five years ago about why he does not invest in superannuation his answer was that they will rob you i learned very early never to trust anyone with your investments but i'm surprised how many have so much faith in their investment adviser and third party controlled investments with these wall street guys get up to you does not surprise me at all well let me just say your dad sounds very smart i wonder if only then he knew that not only could wall street be stealing from you but also the federal reserve was zero percent interest rates there's so many more levels these days speaking of that we talked this week about the ben bernanke he covered you see there on the atlantic ma

carnegie mellon says he attended but did not graduate. savannah? >> tom costello in washington for us, thank you. >>> now let's get a check of the rest of the morning's top stories from natalie morales at the news desk. good morning. >> good morning, everyone. we begin with the fate of president obama's health care overhaul now in hands of a divided supreme court. nbc's justice correspondent pete williams has more. good morning, pete. >> reporter: good morning. the future of that health care law is in doubt this morning. judging by their comments, a bare majority of the justices seem to think that most of it should be struck down including its central requirement that all americans get health insurance. >> protect our kids! >> reporter: outside demonstrators maintained a show of support for the law while inside the justices debated what to do if the court strikes down the law's core, the insurance mandate. >> my approach would say, if you take the heart out of this statute, the statute's gone. >> the more conservative approach would be salvage rath

and then the bill clinton of course is richard mellon skates, who funded all of the investigations thated to paula jones on and on and the articles in the american state theater. but nothing compared to the money and the organization that we have seen on charles david polk. who bar the heads of coke industries, they are at the third and fourth richest man in america and the people of america, both men. and we know about locates and warren buffett. these are number three and number four. combined wealth of $50 billion. they have put more money -- by the way, i have to say this. they do some good things, particularly david cook was the wealthiest man in new york city. he thought michael bloomberg was. no, it's david cÔte. but he funds the master poets and not try. the metropolitan museum of art, cancer research centers around the country. but most of their money goes into political activities. and they are everywhere. the heritage foundation in washington d.c., coke brothers. the cato institute when it started, coke others. some of you may know that the cato when it's done independently i

we'll be oatmeal mon auditorium in downtown -- at the mellon auditorium in downtown d.c. >>> the kingwn meets students from our own duke ellington high school. we take you to smokey robinson's class. >>> first be ready for some potential problems at our local airports tomorrow. we'll tell you why there could be some passenger confusion up next. >>> back now with a consumer alert about a big airline merger. we are hearing that the integration of operations for united and continental airlines could cause some major confusion for passengers at reagan national airport. starting tomorrow united will operate out of several terminals. make sure to read the message boards closely for your gate. starting at 1 a.m. the two airlines will take down their computers to integrate everything and that means you won't be able to check in online for three to four hours. so if you're trying to check in for a flight tomorrow at any airport, you actually might have to do it in person. that's something you want to know. >>> now an update on a problem with baby monitors that our consumer team told you about

with bill clinton, richard mellon escape who funded the investigation that led to paula jones.s in the american spectator. nothing compared to the money and organization fiend on the part of charles david coke, heads of coke industries. the third and fourth richest men in america. we know about bill gates and warren buffet. these and number three and number four. combined wealth of $50 billion. they have put more money -- i have to say this. they do some good things. particularly david cote who is the wealthiest man in new york city. you thought michael blumberg was. he funded the metropolitan opera. metropolitan museum of art. cancer research center is around the country but most of their money goes in to political activities and they are everywhere. the heritage foundation washington d.c.. the kenna institute when it started. and a coke brothers are suing the cato institute to get it back to be a totally controlled operation. who people -- americans for prosperity -- and dick armey's organization, john k. sick in ohio, co carothers candidate, same with scott walker. and a mea

bank of new york mellon is announcing a stock buyback of $1.6 billion. a continuation of their 13 cents dividend. also discover financial, now announcing a $2 billion buyback as well. regents financial announcing a $900 million common stock offering. and key koerp is announcing a $344 million buyback. and they're also saying they're going to evaluate a dividend increase, maria. so a lot of headlines moving here very quickly as the entire financial sector now reacting to the fed's move this afternoon. >> all right. eamon, thank you so much. we have the news that wells fargo is increasing its dividend, the details there wells fargo boosting the dividend to 22 cents, up from 12 cents a share. this is another one we were expecting, wells fargo among the stronger banks in the money center segments. the company is looking at a stock, also trading higher in the extended hours. jpmorgan led the parade, raising its dividend about an hour before the close tonight. wells fargo also raising its dividend. as you can see, the stocks did trade higher substantially. in

i'm not even sure how this contraption might have worked, so i'm headed to carnegie mellon engineering edward furlani, a research professor from the university at buffalo. ed has written a textbook on magnetic materials and devices. hi, ed. hi, elyse. nice to meet you. come on, follow me. ed's unfamiliar with our boot. i've never heard of this, and i've worked with magnets for many years. but now that i'm looking at it, i can see that there are some permanent magnets attached to the bottom of it and there are also some coils of wire. what's a permanent magnet? a permanent magnet is like a household magnet or a refrigerator magnet, and when you stick it to metal, it stays stuck. ed thinks the presence of the copper coils indicates the boot operated on something called flux transfer. what i'm going to do is sprinkle the iron filings on top of the magnet. the iron filings align with the magnetic field, and those are called flux lines, or lines of force. but what exactly is a flux transfer? flux transfer is a way of turning the pull of a magnet on and off. was this a new invention in the 1

i drove out there and mummy and daddy were paul and buddy mellon and their guests were jack kennedy,helicopter. >> what do you do as a 23-year-old at that moment, here come the kennedys? >> you don't know what it is until much later. you don't realize it until that night you're suddenly realizing at 23 years old you sat at a table with noel coward and the president and watched noel coward become more and more vulgar with each story he told. and watched the president literally bending over in laughter, and then dancing on the coffee table. it's a miraculous thing. and it was the beginning for me, of those sorts of adventures in people. >> elizabeth taylor is someone i think you met her, she was a more mature woman. >> 12 years ago. >> okay. had a few dates. is that accurate? am i portraying this correctly? did it ever develop into a serious relationship? >> no. >> you describe her as not the bejeweled person that a lot of us now remember. you talk to her more about her being more fragile and lonely. >> yes. it's actually one of the -- there's no theme in the book but one of the things

>> the red stuff is water mellon. >> this is part of a juice cleanse. >> no, this can be part of a juice cleanse. >> six juices $54. >> am i supposed to do six juices a day? >> can you do a cleanse. >> you have done one? >> i'm done a couple of them. obviously i'm still a work in process. i'm enjoying the juice. it not what you eat, it what you don't eat. if you eat this stuff, it meal replacement, it's incredibly healthy. >> i'm telling you, you could get back to college shape. >> they're charging $10.99 a bottle. >> have you gone to the deli and bought a turkey sandwich, it's about $10.99. >> i'm cheap. >> can you make the green stuff red? >> this i might try. >> you'd put artificial coloring in that? >> i would, just to get it down, i think. >> we're really excited about this investment. >> sorry. >> we're oversubscribed on series a on this and we're really, really excited about it. >> what's in the tiny bottles? >> they're a volcano and ginger fire ball. it's a great way to start your morning. >> you miss this with vodka? >> off camera i'm going to try one. maybe. >> we got to run. s

i know there is pete paray professor ingalls en la carless de captivate could carnegie-mellon need to understand the link is in and want to carry a bridge with other agencies to improve that both of the data in this area which is a lot of the mission and the analysis in this area has been as far as recently jury interested in this. he has great expertise in this area. this is not something we are ignoring and sent to me the eia has never said its song. it is a critical issue and want to be. i do think the standard of proof people apply had a very. that is where their role would be. i think that what you are describing has been quite marked since 2005, and it's important to understand it affects the oil market. weddington terms of facts on the ground there is a general agreement that is a premium and its. the policy of the u.s. government, the policy of europe is to drive on the market. the second factor is we have a very tight market any way that it is reminds me of 2005 and the eve of the crisis and we were using a number of 750. i know paul's number is closer. so, it is iran. the co

carnegie mellon conducted an independent assessment of the dib pilot for dod and concluded that nsa provided few signatures that were not already known to the companies themselves and in many cases the dib companies by themselves detected advanced threats with their own nonsignature-based detection methods that probably is not known to the nsa. and so we need to hear from general alexander on his view of those issues as well. we thank you both again for your service, for your being here this morning and we call on senator mccain. >> thank you, mr. chairman. let me thank our distinguished witnesses for joining us this morning and their many years of service to our nation. u.s. strategic command is in the midst of pivotal change has we proceed why the modernization of the nuclear weapons complex and nuclear try add and further imbred cyber defense and cyber attack and the core mission competencies of 21st century warfare. nuclear modernization i'm encominged even with the unpress didn'ted level of defense spending uncertainty, the department has maintained its commitment of modernizing the try

but i would first like to invite an undergraduate at carnegie mellon university to talk about his commitment. it is very important to me because it involves haiti. the haitian government estimated that 300,000 people were injured, many with long term disabilities. today, an enormous percentage of the population, as high as 10%, qualify as a disabled. in addition to that, 75% of the haitians do not currently have salaried employment. something i have worked every month to do something about. about 70% of them live on $2 a day or less. to address these issues, brett will create a sustainable business model for mobility impaired individuals who need jobs. the program will train them to build functional schools out of disposable plastic bottles -- functional stools out of disposable plastic bottles from the streets. he will recruit and train 10 people to prepare people to become furniture makers. the program will employ a group of 20 bottle collectors from the local community. and estimated production time of 20 minutes per stool, the haitian furniture makers could have the capacity to earn $24

it was the same statement by andrew mellon.idate real estate. sounds heartless, and i think it was. when he was trying to convey was we have to get rid of all the excesses' of the 1920's and bring the country back to a more fundamental sound economy. what i wanted to get into in the last few minutes is, what was the fed during during this period? period? it failed both on the monetary side and on the financial stability side. on the monetary policy side, the basic bottom line here is that the fed did not ease monetary policy the way you would expected to in a period of deep recession. for a variety of reasons because it wanted to stop the stock market speculation, because it wanted to maintain the gold standard, because it believes in the -- they did not ease monetary policy or at least not very much. we did not give the offset to we did not give the offset to the decline at the policy could have provided. when you see 10% declines in the price level, monetary policy is much too tight. the deflationary was an important part of

there's a famous statement by andrew mellon who was hoover and secretary of the treasury. liquidate waverly person will liquidate stocks, liquidate farmers, with with a realistic. sounds hard and it was. what he was trying to convey is we have to get rid of all the excesses of the 20s and bring the country to a more fundamental, sound economy. for what i want to get into in the last few minutes is what was the fed doing during this period? unfortunately the fed met its first great challenge in the great depression and it failed. both on the monetary policy side and on the financial stability side. on the monetary policy side, basic bottom line here is the fed did not ease monetary policy the way you would expect it to and period of the recession. for a variety of reasons because it wanted to stop stock market speculation and wanted to maintain the gold standard, because it believed in liquidation, the fed did not ease monetary policy at least not very much and so we didn't get the offset to the decline that monetary policy could provide. what we saw was sharply falling pri