merrill lynch and j.p. morgan both helped manage linkedin's initial stock offering. two other web stocks saw significant buying interest. jobs web site monster worldwide was up almost 10%. an analyst at oppenheimer voiced support for its facebook strategy called be-known and a new search product. chinese online television firm youku popped 30%. it launched a joint venture with warner brothers home entertainment. and that's tonight's "market focus." >> tom: while gold prices have held up relatively well in he past two months, mining stocks have drilled lower along with the rest of the stock market. that brings us to tonight's "word on the street"-- "gold." alix steel is a reporter at thestreet.com. >> tom: alix, nice to see you. why the differ gens. what's going on? >> well, it's a good question and the biggest answer i have for you is miners are risky and investors are skittish. there are two other reasons. the first is the introduction of the backed etf giving invests are a way to buy into the gold market that wasn't there before and in addition we've seen companies

and they worked with all the investment banks, merrill lynch, city bank to structure these deals and of them had exactly the same type of scenario where they would buy a little bit of the deal in order to allow the investment bank to create this much larger deal and go out and sell it around the world to investors but magnetar secretly undisclosed to anybody was actually betting against the deal. of the investment bankers and other people involved in the deal, mushing the deal knew about magnetar's secret debts but the investors did not. >> how did j.p. morgan chase and these other firms as you say are reportedly being intestigated, how do they defend what they did? >> well the investment banks, they haven't really defended what they did. they essentially say this was in the is past. how far these people are gone, we round up the business and magnetar says that they never selected the assets and they never made any misleading disclosures to anybody. that's true. magnetar was never on any of the prospectuses or any of the marketing materials for these deals because that would have the

after my second story, i started getting offers from goldman sachs, merrill lynch. i said, i wanted to do work that was meaningful to me, so ended up working in the prison system at rikers island. i know all of that was in so many ways possible because of the work that you did. i just want to say that i honor you, respect, love everything that you have done, all the roads that you have paid to allow me to do the best things that i have done. [applause] >> 44 years apart these two stories happens. clearly, life is not the same. so i went to ask you, miss coleman, what has changed since your time? and, bryonn, after that, what has not changed? when you listen to this story 44 years later for what you sat down and fought for, what has changed? >> well, that is a difficult question. i have to say, depending on what part of the country you come from -- when i have visited and montgomery, people ask, what did they get out of the civil rights movement? one thing. the street that i lived on, instead of calling it east dixie drive, they called it claudia colvin drive. [appla

they're trying to integrate merril lynch and you want to be patient but morgan stanley you can jump in feet first. >> tom: we've got viewer questions. stand by the first one from doug and says intel with the recent goldman sachs downgrade do you think it's a buy it's paying more money to shareholders and back in may goldman sachs called it a sell. do you agree? >> i disagree intel is a sell. intel is an excellent well-managed company. you have the dividend yield and the concern is more short-term. it has to do with inventtory starting to increase, competition from the rm processors as they're called and people don't want the net books they're going i pads and intel is still an 800-pound gorilla and cisco with other big tech companies are real bargains now. >> tom: speaking of dividends one of your choices was telefonica. a recent choice. he writes the current dividend is 9% and the payout ratio is 159% how can it keep paying the dividend. the pay out ratio one way to cal late is look at the yearly dividend per share divided by the annual if it's over 100 it's paying all earnings plus s

the 15th annual world wealth report was released this week by merrill lynch and cap gemini.ber of high net worth individuals, those with assets of more than $1 million, is up. 10.9 million people around the world controlling more than $42 trillion. the largest concentration is in the united states. representing 28% of the global high net worth population. but the asian region has seen the biggest growth in both population and total wealth. adding up to 3.3 million individuals with total assets of $10.8 trillion. this is the first time asia has surpassed europe in both of those numbers. the continent has 3.1 million millionaires with $10.2 trillion in wealth. that'll do it for us for today. thanks so much for joining us. my guests next week, i hope you'll join us, former federal reserve chairman alan greenspan. each week keep it right here where wall street meets main street. have a great week, everybody, and i'll see you again next week. never in my lifetime did i think i could walk 60 miles in 3 days. 60 miles in 3 days-- i can do that. 60 miles compared to what a cancer pa

that description in asia, second only to those in north america, according to a new report by merrill lynch. if you put all the assets held by millionaires around the world together, they would equal just under $43 trillion. >> susie: in the "money file" tonight, why you can stop worrying about lattes. here's ramit sethi, author of "i will teach you to be rich." >> america is obsessed with lattes. everywhere we turn, we hear a personal-finance "expert" nagging us about cutting back on our morning habit. yet what they won't tell you is that cutting back on lattes actually does very little to improve your financial situation. here's why. first, cutting back on lattes doesn't actually save that much money. if you were to stop buying all lattes, you'd save about $1,000 a year-- hardly a huge savings. and don't forget, the costs of making your coffee at home will reduce that amount. second, you'd want to commit suicide every morning. who wants to live like that? and third, this advice misses the psychological aspect of money. we are what's called "cognitive misers," meaning we have limited cogni

1973, and three months before the yom kippur war which was israel 9/11 the then in chevy chase merrill lynch the five shots were fired into the body of colonel josef alon. colonel alon was special. he was a hero with the state of israel, and a very decorated fighter pilots. but a military attache. and was performing a very, very vital role at the time between not only the u.s. but many other countries with this hostile period of time. to think about this case is one that takes many of us back to a time where it is hard to fathom that we have no cellphones, a new internet, and the police which happen to be my old police department that responded to the scene, did not have the capability lowered means to investigate the international act of terrorism. as it is in this business come in the old boy network came of foreword to help. i made a call for information out to the montgomery county police association and was literally swamped with requests for help by individuals the responded to the scene of the crime that night. also i was a volunteer with the bethesda chevy chase rescue squad and it a

and the big concern with market makers is that you can step in, in front of, say, merrill lynch buyingmillion shares of ibm, and buy your own. so that when merrill buys the million shares, the stock goes up a little bit and you make some money. >> people couldn't figure out any other way for him to make money except if he was front- running. >> smith: people ran those, sort of, models and couldn't make money doing it? >> they couldn't make anywhere near the kinof returns that he did. especially in... when markets were falling. but he consistently made money every year. almost every month. >> smith: in boston, a team of risk analysts was puzzled, wondering what madoff was up toz >> there's always that potential, that one little potential that you've got a rocket scientist, an einein here. and he's found some piece of information that's flowing to him proprietarily, because of the nature of his business of executing big trades. >> smith: in the late '90s, casey was working with harry markopolos, the now famous whistleblower. ç]i/Ñ about madoff's returns from the french aristocrat, thierr

i'll tell you the story quickly of the first big case we made against merrill lynch. they gave advice to people across the country, and on the other side of merrill were the underwriters, the secondary offerings for countries. there's a tension between the sides. why? because when they bid for clients that we want to do your underwriting, they would promise their analysts and brokers would push the stocks whether or not they were good purchases. they would say you bring us the underwriting, pay us tens of millions in fees, and the fact it's not a good stock, oh, too bad, people just have to suffer. this conflict of interest pervaded what they and everybody did. i have an e-mail i referred to earlier, full of bad language, this is for c-span so i i can't use it, but if it was cable, i could. we brought merrill in, filed suit, you know, the first conversation i had with their lawyer, and he said to me, the most sophisticated legal argument saying, eliot, be careful, we have powerful friend. i said, i'm not sure that's a legal argument. he said, well, it's the best we can

. >> rose: and bank of america, for example, bought merrill lynch and is bigger than ever. >> that's another paradox which is that you have banks too big to fail that were all right big, even bigger now that we are in the midst of this crisis. is. >> rose: what's going to be done about fannie maend freddie mac? >> well, congress is going to wrestle over it. it's going to be a food fight and i caot make a prediction about what's going to happen. >> rose: but what about the battle of what to do aboutt? >> the tax peyser intohem for $154 billion. that's not acceptable. it doesn't look like that's going down any time soon. do we want them to be financing the mortgage market? do we want them to goway? unfortunately i don't feelike anyone is willing toave anen honest discussion about this. >> rose: and an others have talked about accountability and who should have been accountable and who was not accountable. clearly the rating agencies come under criticism. >> yes. >> rose: clearly the s.e.c. and the regulatory agencies come under a lot of criticism. but have... what should have happened

bank of america took over merrill lynch. it shows how interconnected the financial system is globally. critics say these calls are alarmist because the u.s. can deal with a greece default because these critics say u.s. banks have investments in europe but they have been boosting reserves and can withstand europe's problems better than before the financial crisis. it looks like the markets today are weathering all of the volatility going on in greece right now. the dow up 118 points. investors at this point are optimistic that a deal can be worked out. >> a little bit on the lighter side, we have somebody we think is really upset about all the cuts in greece. the stray dog. take a look at him. he might be the most famous pooch in athens right now. why? because he's reportedly been barking alongside these protesters at anti-government rallies since 2008. not even tear gas or riot police are enough to make him leave his comrades. >> reporter: is someone trailing dog food along the way to keep him coming? >> we don't know exactl

any message out of al qaeda but there are american company logos put on videos, like exxon and merrill lynchk of america and i never heard that before. what is behind that? >> well, look, he's trying to tell those who will listen, i.e. the jihadists, look, you have so many targets that are in the open. banks, insurance companies, don't want to name examples but that is what he's trying to tell them. you don't have to work hard on entering somewhere with a lot of security. these are almost open places. pick and choose. bill: one more thing, gadahn has not been heard from in a while. but, do you think now he is coming out because bin laden is dead? >> i think, the assessment would be that al qaeda wants to reach the u.s. and one way is to reach the homeland and one of the best ways is to have someone with an american accent and american born to reach out to home-grown jihadist, people like himself, who were indoctrinated and wants to trigger one of them. bill: let's hope we can stop him before he has any measure of success. thank you, walid phares, my guest out of washington. >> thank you. ali

because bear stearns went down and lehman brothers was under pressure and people were looking at merrill lynchrybody ended up marrying up. a big psychologist in the industry and oddly enough created berg sbinities and not a smaller one. but these banks did pay all the big banks except citibank is big banks except citibank is still the last one. if you're suggesting there's a flop the banks, the flop that the fed fund rates has been zero since late 2008, that amounts to almost free money to the banking system and they're not lending it. they're investing it. they're investing it. i saw something in the "wall street journal" that commod distrading was up 55%. distrading was up 55%. host: one more call. scottsdale, arizona, republican line, steve. caller: i was going to say that maybe we're just looking at this pessimistically. doesn't 9% unemployment mean 90% employment and maybe, you know, because we're in an automation age with, you know, the computers and robots, i mean, isn't it likely we're going to start having more employment just for that reason because of robots doing that now? guest: g

because bear stearns went down and lehman brothers was under pressure and people were looking at merrill lynch everybody ended up marrying up. a big psychologist in the industry and oddly enough created berg sbinities and not a smaller one. but these banks did pay all the big banks except citibank is big banks except citibank is still the last one. if you're suggesting there's a flop the banks, the op that the fed fund rates has been zero since late 2008, that amounts to almost free money to the banking system and they're not lending it. they're investing it. they're investing it. i saw something in the "wall street journal" that commod distrading was up 55%. distrading was up 55%. host: one more call. scottsdale, arizona, republican line, steve. caller: i was going toay that maybe we're just looking at this pessimistically. doesn't 9% unemployment mean 90% employment and maybe, you know, because we're in an automation age with, you know, the computers and robots, i mean, isn't it likely we're going to start having me employment just for that reason because of robots doing that now? guest: goo

a survey by merrill lynch for 2010 says the region is home to those worth $1 million or more and notheir homes. don't fort for the latest news about your money check out cnnmoney.com. "american morning" will be back after this break. okay, team! after age 40, we can start losing muscle -- 8% every 10 years. wow. wow. but you can help fight muscle loss with exercise and ensure muscle health. i've got revigor. what's revigor? it's the amino acid metabolite, hmb to help rebuild muscle and strength naturally lost over time. [ female announcer ] ensure muscle health has revigor and protein to help protect, preserve, and promote muscle health. keeps you from getting soft. [ major nutrition ] ensure. nutrition in charge! [music playing] confidence available in color. depend® colors for women. looks and fits like underwear. protects like nothing else. depend®. good morning. great day. yup... it's our annual deal-o-rama! show me the carfax. yeah... show me the carfax. but it's deal-o-rama. just show me the carfax. [ sighs ] before you buy a used car, get a carfax vehicle history report. see a

merrill lynch. we are united states. we should care about the people i just give up and play games. per is the little spark that creates economic activity in areas that are distressed c and creates the jobs allever across the country prepare every dollar of investment as tracks the evolution liu some chart. when we vote for this bill bill, this is theutho authorization, not appropriation, we have authorized a 500 million to starkly in the last couple years although has been around 30250. every dollar as tracks seven -- $7 from the private sector. that is the fact it has been documented a congressional testimony that is the history of that m eda. people say how much it is here is what we know.arou >> is an average of $3,000 a job. that is a good return. 220 and 500 jobs are created for every $1 million of investment. here is what we know. between 210,450,000 jobs were created everybody in the senate i think, although it could bed wrong has been asked what is the mosto important thing we have to do today? help to spur job creation in the private sector.co and most of these are in coop