once again, we have bank of america, merrill lynch the winning bidder. on the next slide, slides 3, you can see all three sales. some of the bonds were the largest, $603 million. we had several bidders, and bank of america/merrill lynch once again the winning bidder there. to help put this into perspective for bank of america/merrill lynch, they have been one of our largest buyers since 2006, and the enterprise has been selling a great deal of bonds. about $1.60 billion total they have purchased, including what they have just purchased. this bid was to fund our hetch- hetchy facilities as well as our water in the city. citigroup global bought those, and then our bank of america/merrill lynch bought all of the re-fundings. so we premature cheap what was adopted as part of the last budget hearing. in that model, we had an average cost of borrowing. we achieved an average overall of about 4.48%, so we are pretty close. the items that also happens, the bond sale, moody's did downgrade us given our weakness. we had thought that would occur. moody's previously

worth and why with patience especially merrill lynch global such as metal visions but never the worse it was more pressure for the market. neutral and basically. more that's it for now join my colleague mary in the course or she'll be here ten twenty am moscow time with a fresh wednesday update. all . the. hungry for the full scoop we've got in first hand the biggest issues get the human voice face to face with the news makers on our t.v. . wealthy british style. that's not the type of. market finance come to. find out what's really happening to the global economy with much stronger for a no holds barred look at the global financial headlines tune into cars a report on our cheek. if. russia would be so much brighter if you knew about someone from financed impressions. who for instance on t.v. don't come. to india cause he's available in the movie.

bank of america merrill lynch and the president what results which were action was really great for what you're worth more or less and why and with patience especially merrill lynch almost a little your solution but never the worse it was more pressure so the market reacted great news for all that and where they agree if there's one person. high tech project scorpio voice continued to attract new companies russia's arts it's a silicon valley has revealed a further thirteen signing up projects chief operating officer says investment is coming from both big and small plates and on one level we've already attracted commitments from for example cisco over one billion dollars to invest in chicago on a smaller level one of the big pharma we've also attracted forty million dollars to invest in venture funds pause a hundred million dollars to invest in setting up an r. and d. center for clinical trials at skolkovo and then on another level in the venture capital we've attracted four funds collectively which have committed financing to go finance with us about forty million dollars as well so if

actually look really great for what they're worth more or less and why with patients especially merrill lynch global socialism to the local officials but nevertheless that was what frederic so the market reacted quite unusual on that and basically the if there is with this high tech project skolkovo is continuing to attract new companies russia's answer to silicon valley has revealed a further thirteen signing up for g c four pricing offices says investment is coming from both big and small plates. on one level we've already attracted commitments from for example cisco of one billion dollars to invest in chicago on a smaller level one of the big pharma we've also attracted forty million dollars to invest in venture funds plus one hundred million dollars to invest in setting up an r. and d. center for clinical trials at skolkovo and then on another level in the venture capital we've attracted four funds collectively which i have committed financing to go finance with us about forty million dollars as well so give you a range of the type of partners we're working with from the very large commit

>> merrill lynch originally sought an affair is a growing tea party movement. >> i have heard. >> of pleasure to meet you. >> >> you are catching on. [laughter] smack hello. i am from or against the macquarie doing in washington? >> i am here with one of the university's. >> is this for you? >> i am glad you were in town. >> tomorrow. >> from the heritage foundation. >> nice to meet you. >> where you from? >> virginia smith how long have you been here? >> two and a half years. >> hello nice to meet you. i thought you looked familiar. >> this is for my dad he wanted to make sure that i came to say hello to. >> thank you for all that you do. [inaudible conversations] [inaudible conversations] >> i talked to the last stafford. >> can you have a cartel while i finish this then we can talk? [laughter] it is so good to see is. >> rihanna radios today? -- were you on the radio today? >> that is my girl. >> they cannot let it go. >> we will see you later when did you get the picture? thank you. >> thank you for everything that you do. each of them that was so they can read it at the same tim

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

investment management at bank of america, she oversees more than $2 trillion of assets for clients at merrill lynch and u.s. trust. our conversation began with her take on the stock market for the second half. >> the u.s. economy will continue to muddle its way through for the remainder of the year, and the return on equities will be positive for the remainder of the year. >> sallie, what is your take on the economy? so many people say the u.s. economy is in for a prolonged slow-down. >> not atypical after we see see a financial crises. our clients are affluent, high net worth, ultrahigh net worth clients. we see that they continue to feel very conservative, that they're deleveraging as a group. that's important, because these folks start businesses, run medium businesses, small businesses or corporate executives, and their conservatism feeds through to the rest of the economy. >> do you think that stocks will still prove to be a good investment in an economy that's going to be weakened with high unemployment? >> it is a fallacy in many ways, the belief that economic growth has to be very fast in o

america merrill lynch if there's a result which will actually look really great for one or more worse than what i was. just global such as middle east but never the worse that was what frederic so the market reacted neutral on that and basically. all that's it for now enjoy my colleague in the course or she'll be here at ten twenty am moscow time with a fresh wednesday update. hungry for the full story we've got it first hand the biggest issues get the human voice face to face with the news makers on the. wealthy british style. that's not on. the. market why not come to. find out what's really happening to the global economy with max cause or for a no holds barred look at the global financial headlines tune into cars a report on our. if. russia would be so much brighter if you knew about someone from focused impressions. who for instance on t.v. dot com. in india call to. is available in the move go joint be put to the ambulance we go to the grand imperial truly the george west coast coromandel you can go with her till the close of the show to say don't need to go. read this and the c

bank of america merrill lynch and now the specific what results which would actually look really great that would be worth more awareness and why with patience especially marilyn woman such as with all the local officials working with the west it was more pressure so the market reacted. on that and basically your fears. is as he will be back in fifteen minutes time will not take ten secs. hungry for the full support we've got it for us has the biggest issues get a human voice face to face with the news makers i'm not see. if. i am sick of nature and discover its music in the. in the. communicate with the wine until the. test yourself and become free to. see what nature can give you on on see. the. india call she's available in.

it's actually third party data we've generated whether it's bank of america, merrill lynch or other organizations. we tend to find it and present it to the fcc as sort of independent data. that which does come specifically from ctia is part of a semiannual survey we've been doing for about 20 years now that is submitted by members and pieced together before it even makes its way to cti automobile accident. >> host: matt wood, does that effect the quality of the data with ctia providing it? >> guest: we havewe've often sat the fcc should do more independent analysis and also go out and subpoena people. get the data from industry that is proprietary, that is not readily shared. the fcc doesn't need to put that out there, they need to do a better job of actually gathering data and not simply relying on what comes to it from third parties and other analysts who might have a stake this the industry or a very easy, tailored opinion. >> host: we're pleased to be joined by our regular, paul kirby, who's a senior editor with telecommunications reports. >> host: thanks. let's dig down a little. the report

couple of important results mostly from the point of full sector goldman sachs and bank of america merrill lynch in the us to think what results which would actually look really great for one or more western was patience especially marilyn trauma such as we do what we usually but never the worse that was work so the market reacted neutral on that and basically. this is us it will be back in fifteen minutes time with. you. hungry for the full story we've got it first hand the biggest issues get a human voice face to face with the news makers on our team. in the. discovery. communicate with you want to. test yourself and become free. nature can give you. in india in the movie the joys the photo. the gateway photo the grand imperial trying to tell us to. close the. clear road to the colonel was a photo retreat. this is our team from moscow our top stories the murdoch media. has over alleged phone hacking and bribery of the now defunct means the world rupert murdoch and his son were followed by the former c.e.o. in the u.k. rebecca brooks questions about the inner workings of the shady. takeover a s

. >> getting hurt the have inspired his greatest speech when he got to merrill lynch in october dazed october 57 happen as my life i would talk amusing for half an hour and it wouldn't hurt anybody. hardly the gem of words but anti-them did inspire or made possible bid greatest act. into them and the fall of 1862 liberated they can as much as it liberated the enslaved people. and as have been argued so convincingly with their work as we all agree tonight, it transforms the war for the union has it was our what it could be that embraces freedom. thank you very much. [applause] >> what inspired you to write this book? >> when i began looking at this study it was one of the topics that i got the most interest and questions about and tell what it meant to people and how important and the time being worked out because i was undergoing a renovation that was pretty close to being done so the interest was that the fever pitch. >> host: can you explain the shopping center and its importance to chicago and the suburbs of the early '60s? >> guest: is a big first there's a lot of unique figures.

merrill lynch an expected player, putting out a note and they exhibit x us to not default and lose the triple agent rating down the line, on main street and wall street for borrowing costs. >> harris: that's where people are going to tune in closer now. for the average person, how does it affect our wallet. are 401(k)'s going to suffer? >> absolutely. you can expect if stocks and bonds selling off. if we lose the triple-a rating. we've paid our debts and that's one reason people continue to flock to the u.s. dollar and treasury markets and globally you'll see them rallying and see that happen as people see what's happening in europe. treasuries selling off and individuals own, we own most of our own debt here and you could have money market mutual funds in trouble because they invest in treasuries, some can only investor in triple-a rated entities and have to sell off the bonds and that makes borrowing costs higher for the u.s. and higher foremunicipalities, and borrowing costs all the way to individuals trying to get a loan to buy a car and everything could be moving higher in terms o

members has also led his name to this organization and also kgmg, and ktmg, bank of america, a merrill lyncho our attorneys working pro bono working into full compliance. there is been a series of organizations that i could keep meaning we are very thankful. >> awesome best of luck. fifth let us know what happens. >> we will see you at 8:00 p.m.. (music) >>> the best in our back story series on the stars of summer's block busters. >> a special fourth of july "insider." i'm brooke anderson. >> and i'm kevin frazier. the "insider" is on. >> see if this thing is working, oh sflchlt. >> before you see her in black lingerie, the lost bikini shoot. >> modeling can be really hard. you have to keep smiling and not fall over. >>> before friends with benefits -- justin timberlake's star search debut. the days with christina and future girlfriend, britney. >> i'm a proud boyfriend. >>> as harrison ford

but merrill lynch coming out and saying that they don't see a deal getting done right now.t shutdown for about a week, they expect a ratings down grade. a lot of other people saying they expect a ratings downgrade because they just don't like what they're seeing in washington. >> and tell us about this gdp report. how concerned should we be? >> the gdp report was weak and it add as wrinkle to this whole thing because does it mean that you cannot messing up the debt ceiling and having an immediate cut back this government spending that would hurt a very weak economy and make it weaker? the first quarter of the year, we've learned that the economy only grew 0.4%. that is not good at all. there you can see a bar chart, shows you thedepths of the recession on the left. and the last two bars, 0.4% first quarter of the year, second bar, 1.3% was the growth in the second quarter. that is not good enough to lower the unemployment rate. that is not good enough to show an economy that is finding it footing. very worrisome. especially if you're talking about a quick pull back in good

whether the bank deliberately misled shareholders about massive losses on the books before it bought merrill lynch in 2008. the sports fans. cbs news correspondent jim axelrod reports. >> reporter: two and a half weeks after the dallas mavericks beat the miami heat for the championship, it looks like that might be the last nba action fans see for awhile. >> i don't think we're closer. in fact, it worries me that we're not closer, and that we spent all this time trying to get closer. we have a huge philosophical divide. >> reporter: nba players are now locked out, joining professional football players who are in the same boat. >> what we're doing on the business of football on the macro scale is about getting a fair deal done, and trying to get back to the game of business of football as quickly as possible. >> reporter: heading into this holiday weekend at a time fans would be dreaming of players who might join their team next season -- >> i think the fans should have a lockup. >> reporter: it's the first time since the winter of '94-'95 when it was hockey and baseball. >> i'll read the paper, wat

senior positions in the investment company industry, most recently as global general counsel for merrill lynchinvestment managers. i've been associated with investment company industry since 1975 and i've recently been elected to the board of mutual fund directors forum, nonprofit organization of independent fund or actors. the views i express today are my own and should not represent those of my firm, my firm's clients or any other organization. funds are subject to a conference of regulatory regime that has served funds invested well and played a significant role in the success of the one industry. with a critical role that funds play on our economy and an investment of american people's hard-earned money for savings and retirement, it is essential that this regulatory regime urban comprehensive yet flexible enough to meet changing market and investor needs as well as to enable product innovation. during the financial crisis, funds and their investors receptor to many the the of the same challenges as other financial institutions. funds perform quite well during this period with but a few ex

. >> andrea: the difference is merrill lynch would move. >> bob: merryl lynch would move, my butt. >>rea: cordoba house is trying to build this bridge and improve muslim relations and make at it sign of peace, they would not be literally ripping open the hearts of 9/11 families. >> greg: the thing that bugs me, if they to build it, fine. we all agree with that. they have the right to build it. it's that if you question the taste, you are now guilty of the new bigotry that came out within the last year, islamophobia. i say it's a jerky thing to do. that's how i feel. but you got to let them do it. that's america. >> eric: why do they want to? there are so many other buildings. >> greg: they're clureless. the developers had no idea what they were getting into when they got into this. i think they were shocked. i think they were shocked by the amount of anger. when they saw the anger, they should have backed off. >> bob: do they own the building? ask a question. do they own it? >> eric: cordoba house got together with a developer, a guy who apparently years ago was a waiter and somehow c