merck says it acted responsibly. it has admitted no wrongdoing in its settlements. critics say it is not surprising that a drug as risky as vioxx was approved for sale. >> having seen what the process is like, there are drugs where i look at it and say, i can't believe they approved this. >> dr. david ross was a top drug safety reviewer for the food and drug administration. he left the agency after ten years, frustrated that it had approved drugs he says put patients at risk. ross says the fda's drug safety testing is not what you might think. >> i think the average person imagines the fda has a place where all these scientists are working sometimes around the clock, testing drugs to make sure they're safe. is that the way it works? >> no. there are a large number of scientists and they do work around the clock, but they are not themselves testing the drugs. >> so who is responsible for getting the drugs tested for safety? it's actually the pharmaceutical companies themselves, and the fda often doesn't see the results of those tests until drug companies want approva

of a class action lawsuit against merck who makes propecia.ck believes that propecia has demonstrated efficientlisy and the product labeling appropriately describes the benefits and risk of the drug to help perform prescribing. they saw no casual relationship between the use of propecia and continued sexual dysfunction after designation of tiscontinu treatment. how do you respond? >> the warning labels are adequate why do they have warning labels -- and change the warning labels four times in the past two yerks? obviously, merck knows is there a danger but they don't want to properly warn the public. >> how old were when you you started -- how long did you start taking it? >> i took it off and on from may to october 2011. >> when did you -- >> i started noticing -- >> when did you start noticing the side effect? >> i started noticing severe problems around october. i was doing jujitsu with my girlfriend and noticed my body wasn't responding correctly and when it was time for sex i noticed things weren't responding properly either. i got off th

. >> you are part of a class action lawsuit against merck that makes propeeshia. they said merck believes it has demonstrated safely and inefficacy profiles and labeling appropriately describes the benefits and the risks of the drug to perform prescribing. they saw no casual relationship between the use and continued sexual dysfunction after discontinuing the treatment. how do you respond to that? >> well, if the warning labels are adequate, why do they have a discrepancy between them and change the warning labels four times in the past two years? obviously merck knows that there is a danger, but they don't want to properly warn the public. >> how old were you when you started taking it? >> i took it off and on from may to october of 2011. >> when did you -- >> i started noticing. >> when did you notice the side effect? >> i started noticing severe problems around october. i was doing jujitsu with my girlfriend. when it was time for sex, things were not responding properly either. i got off the drug and expected things to get better, but the side effects got extre

another drugmaker is bristol myers with the upgrade today of buy. >> same call as merck.here's one call and hitting both stocks. analyst there sees enough return potential to upgrade it. they expect the approval of an anti-coagulate drug and a riskier name than the other buys. you got about $3.50 of upside and down 7% year to date. >> what do you think goes on at a shoe carnival? clowns and stuff? shoe carnival recommended by a guest yesterday on the show and not looking so good today. >> what happens when every shoe you sell is size 22 and red. i'm kidding. they did have pretty strong sales of athletic shoes and down in part because costs rose because they're continuing to open new stores and a bad news/good news story and downgraded and shoe carnival up 33.5%. >> talking about rising shoe costs or import costs of shoes and nike this week with the $350 lebron james shoe. is that the most expensive ever? >> you have to be a heel to put that one out. >> aruban networks soaring today. guidance, i wonder? >> it's a new name. maybe you didn't hear of it. up 17%. revenue and e

to accounting gimmicks but to unleash the frontiers of the world economy and of the schwimmer mayor merck says it energy. the u.s. can overcome the energy crisis in a few years by of the shipping natural gas and oil technologies that have formed the horizontal tracking and other developments to make it possible with a much smaller footprint reach more fuel man in the past. the grain energy sources was part of the global a environment that was from arable soil solar cells and windmills and biofuels they waste what is important while a ignoring the infinite drove of energy below the surface and it could be reached with a small footprint of usable land. >> host: george gilder what is altruism? how does that fit? >> is the needs toward others. i believe capitalism is altruistic to say it is based on making investments in without any assurance others will respond. might only work if they respond imaginatively to the needs of others why i think it is altruistic but socialism is based on agreed. maybe the greed for power that leads addis an invisible hand to a welfare state because goldman sachs

on wednesday, october 10, circuit brother brian and melissa morris and merck mulligan and officer james johnson of the central station responded to a fire at 8 -- 824 height street in downtown san francisco. officers found the first and second story buildings involved in flames. leaving the residents, many of them students inside the six- story building in grave danger. officers immediately entered the building and began evaluating the evidence, pounding on doors and alerting them there was a fire. many of them were still asleep. essentially they were forced to withdraw from the building because the heat was so intense in the building. the fire department was still in route to the fire. not until the fire department arrived did it take over the evacuation of the fire personnel were ordered out of the building onto the street for the structure at 824 high street, and asphalt and some of the fire equipment had to be moved because the heat was so intense it was buckling the street and the water pipes. the fire spread quickly and started the fire department personnel were overwhelmed. build

, and we also like -- merck would be our top pick, the best performing large cap name in pharma overalllilly, which catherine arnold upcapped last week. we think there are some winners here, jeff, thanks so much for weighing in. >>> let's talk about mario draggy, he has this -- out in germany today. if you're into reading all about the alternative wonky scenarios that they came up with the future eurozone structure, go ahead and read it. what is interesting, tell me if anybody disagrees, he kept on the table the possibility of what he calls exceptional measures which we know means a lot of things and could ultimately be a real boost to the stock market. anybody get that sense as well? >> i got that sense, it is also based on conditionality where anybody -- any bond buying will come with giving up some of your sovereignty. i think as i read it, it looks like spain is going to have to go into crisis before they actually get their bonds. >> i would say -- that's exactly the point. i think there has to be a cri s crisis. for worse than we are right now. i don't think that bodes well think f

for four year, merck's fighting men have set a record for courage and sacrifice unsur paced in our history and four years this administration has had the support of a loyal opposition for the objective speaking honorable end to the struggle. never has so much military and economic and diplomatic power been used effectively. if that for all this time and ul of the sack fis and all of this support there is still no end in sight then i say the time has come for the american people to turn to new leadership not tied to the mistakes and the policies of the past. that is what is in the office of america. and i pledge you tonight, the first priority foreign policy objective of the next administration will to bring an honorable toned the war in vietnam. we shall not stop there. we need a policy to prevent more vietnams. all of mark's peacekeeping citytutions and all america's foreign commitments must be reappraised over the past 25 year, america has provided more than 150 billion in foreign aid and through nations abroad. in korea, and now again in veriette nam, the united states furnished most of

much more proof do you need again go outside the banking industry look at glaxo smith kline look at merck look at johnson and johnson have you seen one head were all oh yeah the government collects money so they could pay their guys and keep getting more money to keep their game going and none of the big heads roll oh and by the way if you get caught stealing that chicken sandwich three then it's streets strikes you're out and now you have to live with some guy that got caught selling you know now and so we so let's put this into perspective you know i know i do think that's important that said i don't think you can see this gerald but i can we have the front page of your trends journal behind me where we have jesus chasing the bankers out of the temple i'm assuming this is a reference to when jesus chased the money changers out of the temple which was in the bible from what i understand i guess the question here is this more of a moral issue now the law has failed to go after these untouchable guys and and this is really about morality in this country and i don't know instilling some of

elections and that time is the subject of tonight's daily to wall street makes a lot of money for merck more correctly they take a lot of money as the leeches and banks hers and wall street are very much takers rather than makers they don't make anything they just move money around and skim take their vigor at the top but in the process they end up with hundreds of billions of dollars in cash truly big books about a dozen wall street banks toure's made over two billion dollars last year each and the banks themselves have had one of the most profitable years ever borrowing billions from the fed at zero percent interest rate loaning that money to the us treasury at two percent or so spinning off trillions into rivet of us and stuff and all the profits in their pockets meanwhile other divisions of the banks are foreclosing on your homes and actually making a profit and a tax write off. result is that both the banks toure's and the banks on wall street have billions and billions and billions of dollars that they can buy pretty easily and given that what better place to put that money that i

bristol-myers squibb, the carriage foundation, glaxo's with klein, i.b.m., merck, airborne lifeline, and the national breast cancer foundation. cervical cancer is the leading cause of cancer death in sub-saharan africa and is preventable and treatable disease. it is up to five times more common in women whose immune systems are already compromised with hiv. the pink ribbon of red with initiative will build on the platform to screen and treat women for breast and cervical cancer. george and i launched the pink ribbon of red ribbon last december. on the return earlier this month president bush and i were thrilled to see their progress. pink ribbon of red ribbon has expanded beyond the capitol city and across the country. multiple clinics are now screening, diagnosing, and treating line for cervical cancer. already more than 14,000 women have been screened, nearly 40 percent of those women are hiv-positive. nearly one-third of all the women screamed tested positive for precancerous or cancerous cervical cells. of those who tested positive more than 8 percent could be treated immediately

what is the merck?here's one in chicago as well, but i wrote about the merck exchange in new york, rigged, commodities are traded, oil was traded, used to be a physical exchange where you stand in the pit, the tickets flying and you sell orange juice or whatever, but oil is the main one, and it's a physical place that where you stand matters because who you are trading with it's about real estate in the trading exchange. there was one guy who was a trader, but he was very small, so he hired clerks who were to just hold him in the put so he was not pushed out. rigged was about a guy who went to harvard business school, but grew up in brooklyn. >> host: a real life guy? >> guest: a real life guy. the merck is tough guys, jews and italians from new york who get a spot on the floor, and oil was traded insanely, like guys without a lot of education, it's gambling. it's about a market, and this guy with a foot in two worlds in the school world and brooklyn world goes to work there and sets up an exchange in d

>> we've just rolled up on what police say is evidence of one of the biggest and easiest frauds in mercko pu-- america to pul. a crime hidden in a piece of plastic, a debit card. >> it looks like he just purchased them. >> those debit cards are used to take advantage of fast refunds from the irs. the thieves are feeling those refunds by stealing people's identities, filing returns online with phony information and getting the irs to put the refund money on the debit cards. >> this is what they're buying. see green dot money cards, target. he went to target and spent 600 bucks. and he paid with a debit card. >> what did you get? $1,000 for christmas in gift cards? >> police say the man they pulled over already facing identity theft charges in another case is a known member of the infamous money avenue gang which specializes in this kind of fraud. not surprisingly, he's in no mood to talk. >> i'm curious what you do for work that you drive such a fancy car. >> i don't know about that. >> you don't know nothing about that? can you tell me if you know anything about identity theft happening

merck, genentech. cell scope, these are companies that are coming in and it is clear that some of the bigger guys on the market out there, the big names, want in on the little names because they're more innovative? >> absolutely. novi is graduating from our program today. they made it so you can have a virtual office visit with your dermatologist. that saves costs. get right to the point. convenient. with the doctor. bypasses all the steps along the way. it uses secure, digital and mobile technology to get you there. david: you say graduate from your program. what exactly do you teach in your program? what do you need to get a degree from institute of rock health? >> sure. rock health is national incubator of startups. hard to get it two, three, scrappy entrepreneurs hard to get what you need to. need doctors lawyer, scientists fda approval and insurance and pharma. we bring all the people together when one curriculum. that allows them to consolidate the resources and be much more effective. one of the

chips, he picked prunes as a youngster and called that a terrible job but he did a great job at the merck. he was 76 years old. >> still to come, deadly errors t bay area hospital's under fire for safety problems that in some cases have led to the death of patients. >> also peg prince george's new plan for safety across the state. why some say the plan does not go far enough. >> two titans could team up. leaders of apple and google may be making dates. >> i'm jeff ranieri. a lot of sunshine and heat in the east bay. temperatures the warmest in the east bay. discovery bay at 94 degrees. almaden valley at 8 sefrnlt here's the thing, this heat spike is also pushing the allergies up there. everything in the moderate to high category. we have a track on tropical depression isaac. the full forecast coming up in a few minutes. >> the silicon valley ipo market has been a rocky road. local companies aren't shying away. let's find out who is next to go public. our business and tech reporter scott budman is here with the news. good evening. >> good evening. yeah, announced the company is work day, i

you have procter and colgate, general mills or kellogg, drugs like pfizer or merck.re the classic recession resistant stocks. you want to buy them when the economy slows down and investors flock to stocks that can generate safe, consistent earnings. you don't stop eating food or brushing your teeth because of a recession. but then again we know the stocks don't outperform the others, don't do better when the economy is in full speed motion. why is this secular versus cyclical distinction so important? why is it the first piece of wall street jargon i'm translating for you? it helps you understand how much companies will earn. it matters to the big institutional money managers who have so much money to throw around they are buying and selling and it drives stocks up and down. that's the anatomy of the game. the single biggest determinant of where prices go in the short term. the whole hedge fund play book is about when to buy and when to sell cyclical stocks and when to buy or sell secular growth stocks based on how economies in this country or around the world are do

it's a mistake because you can trust your nest egg to merck.ut people don't look -- s&p traders, all those come on, from "the new york times," listen, you can't do it at home. c at home? apple. go look around. look at what your kids are using. apple. think about the balance sheet. done think about knight capital when you think about apple. think about a company that's well run with its destiny somewhat secured. >> the impacts of this glitch and whether or not retail investors will shy away from the markets, will we see this in the volumes reported by a td ameritrade or an e-trade in the next quarter? will we see the result in the monthly trading volumes going down for this month? that will be the true tell in terms of is the retail investor really shying away because they don't have faith in the markets anymore? >> we had ameritrade on recently talking about how facebook pulled back volume and then came back, but now people options they're trading. >> yes. >> they're trading derivative securities you wouldn't expect the regular public -- i don'

. >> merck, intel. >> all right.on trennert, one of the best of the best from strategic research. another broken dream from obama. a new report shows taxpayers could lose a lot more than $25 billion on that oil bailout. that auto bailout, that gm bailout. full details on that thing, plus some of the late-breaking headlines. taxpayers are getting hosed again. you know what i love about this country? trick question. i love everything about this country! including prilosec otc. you know one pill each morning treats your frequent heartburn so you can enjoy all this great land of ours has to offer like demolition derbies. and drive thru weddings. so if you're one of those people who gets heartburn and then treats day after day, block the acid with prilosec otc and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn. [ male announcer ] one pill each morning. so what i'm saying is, people like options. when you take geico, you can call them anytime you feel like saving

cisco, merck, chevron, the topper formers. the s&p up 8%. sprint nextel, tesoro, first solar, the winners there. the nasdaq's got more work to do to reach new highs though up more than 8% this summer. tops in the nasdaq 100, seagate second too long, sirius xm radio and sandisk. and don't sleep on apple. after some stumbles, the stock is up 12% this summer. back at all-time highs.and if i be unstoppable. you have to love lightning the tortoise, everybody. we had to bring him back and here in march of 2010, the dow's up almost 24%. is it too late for you to get in? let's ask andre julian, president of -- i can't keep that up. scott ren sr. at wells fargo. got to have fun here, andre. trying to understand about the rally is why. >> i mean, if you look at it, we have a lot of bad news. obviously high unemployment. slow gdp. china's slowing. the's bad news. you have a little good news comes in now and again but looking at it it's a statements of draghi. he said -- pulled a bernanke. going to support the euro no what and then merkle out of the sha

when you look across the entire sector, talking merck, pfizer, lily, these are names that continue toe great cash flows, traded in unbelievable valuation, and you get the yields and i don't think this is any kind of a bump. as a matter of fact the reason they're getting that bump up like i say that secondary potential. >> talk about an interesting mover over the last 24 hours or so, amazon.com, stock is up 2%. speculation swirling around whether the company will unveil a new kindle at its september event. murph, a lot of speculation as to whether it's that. i don't know, the event i think is in a hangar, maybe a spaceship. >> it could be. with these guys nothing would surprise you, right? you look at amazon here i've missed the trade, haven't been long this stock and it's trading up now at new highs and everyone's talking about this meeting that they have scheduled for fths irs week of september. with the company amazon, i think you lump them with an apple. it's hard to bet against these guys. anything they enter into, any segment of the market they enter into, they do well. so i thin