. >> weave got a drop here for moody's. >> not a good week for moody and is one has to wonder what is left of their franchise if they don't have any credibility, people don't think they need the rating what do you get when you buy moody's. i wouldn't buy it. >> pop for natural gas, up 5% on this week, joe. >> absolutely. natural gas technically great rebound. as of 2:30 on this coming monday becomes a $5 commodity versus a $4 commodity. >> united health was down 11% on the week. steve? >> can anyone tell me that we're not going to reform health care in any way, shape, or form? no. so i'd stay away from the space. >> drop for a & f, abercrombie & fitch down 8% this week. >> the cute girl on your left told to you short that one, and it's going to go lower than this. you know it's just starting to go down. this one trades for 28 1/2 i think. >> the cute one on the left. >> cute girl, which is a little bit not respectful. >> i've been called a lot worse. i'll take it. >> we've got a pop here for guinness. you know, the beer. >> ah. >> 250 years ago this dark irish brew was first brewed an

moody's share price is down 14 percent since the california investigation was launched. the stock of s&p's parent company, mcgraw hill, which includes businessweek magazine is down seven percent over the same three days. online items after the show, head to our website firstbusinessx.com and type in charity to see how one non-profit organization that helps teens is weathering the recession. plus, why uncle sam may help out of work americans receiving unemployment benefits for an additional three months. and...hear why one viewer thinks unemployed parents may be setting a bad example for their children...you can find it all on our website, first businessx.com. and coming up on the show.... we catch up with rock band kiss to discuss music and money and their new venture with the world's biggest retailer...that's coming up next after this in-the-know message. for 35 years, the rock band kiss has redefined music and money. the band is best known for its make-up, but it also is a booming business with more than 25-hundred licensed products ranging from video games to board ga

. >>> meanwhile, moody's also had negative words on the banking sector.e've got the moody's report on banks next. >>> one of the major upheavals of the financial sector. the ceo of florida's bank united thinks we're not out of the woods yet. he's joining me next. i've been growing algae for 35 years. most people try to get rid of algae, and we're trying to grow it. the algae are very beautiful. they come in blue or red, golden, green. algae could be converted into biofuels... that we could someday run our cars on. in using algae to form biofuels, we're not competing with the food supply. and they absorb co2, so they help solve the greenhouse problem, as well. we're making a big commitment to finding out... just how much algae can help to meet... the fuel demands of the world. >>> if you think the banking system has turned the corner, maybe think again. matt nesto joins us now with a report from moody's. >> they call it fundamental credit concerns. basically saying they still think there's a lot of trouble ahead. these are the highlights of the reports tha

in fact moody's didn't disclose the soot in the recent s.e.c. filing.case, they might be in trouble. let me explain why. historically the ratings agencies have had to defend against fraud claims. they simply said these are our opinions, just like "the new york times." they might be right, they might be wrong but they are just opinions. some called them the world's shortest editorial. therefore the rating agencies argued under the amendment these are non-objectionable opinions. people might hate your show but if i give it four stars it's my opinion and i believe it. this is called a non-objectionable opinion. if someone tries to sue me, this is protected speech under the first amendment and the case gets dismissed. now, in last week's ruling, the judge ruled where a disseminating agency is not entitled to the first amendment protection and the rating agency ratings were not mere opinions but actual misrepresentation. as a result, the judge rejected the argument these are non-objectionable opinions and ruled the ratings agencies can be sued for fraud. mr.

he says he was suspended by moody's after warning the firm's compliance group after what he believed to be a securities violation. christine. >> julia, you can get more news, videos and blogs all at one place, cnbc.com. >>> coming up, promises, promises, have leaders in the world's most powerful economies helped to kick start trade inspect we'll look at the road to today's g-20 in pittsburgh. >> and we are continuing our focus on the currencies these days. >>> welcome back to "worldwide exchange" for a look at the indian markets, we have reema ten due car joining us live for the india business report. >> it's turning out to be a bit of a sticky session. so the index has managed to get themselves into the green. so the breath has recovered considering what it was trading, but still marginally favoring the declining side. we have stocks lying in forces hindalco is sporting a cut of about 4%. we have sterlite and hindalco down, as well. and on the gaining side, we have banks, which are holding up quite well and they have been for the past many days. hscc bank, up about 2%. bharti is up,

let me ask you, moodie's released an outlook on czech bank. they are concerned the weakening economic environments will put pressure on asset quality ratios. do you worry about that? do you worry about something loom something. >> yes. yes and no. definitely we have to pay attention. on the other hand i don't see an imminent stress. i had a meeting with 40, 50 largest businesses in the czech republic two weeks ago and i came with very good confidence. so maybe it will not be that bad. >> let me ask you about the trade situation overall. we have been getting information on the idea of protectionism, the strain so many nations have felt over the last year have caused them to look inward, of course. the administration and the united states had put new restrictions on tires coming from china and china is retaliating with hollywood movies and poultry. do you worry about a trade war or protectionism? >> i do worry. but until now avoided it. for 40 years in the communist more or less closed or semiclosed economy. we know something about it. so for us

. >> carter moody is constantly frustrated by the cost of private health insurance. >> 864. >> he hasshopping for coverage ever since the non-profit he works for dropped its plan. >> the annual bill was going to go up 82 percent. >> the debate over health care reform is raging across america. and in states like tennessee, many feel they have seen the results of a public option. >> in tennessee we learned our lesson. about what happened. >> congressman marsha blackburn is talking about 10 care a state program that many are comparing to a government health care overhaul. ten care also promised to insure more people and reduce health care costs. blackburn said the program nearly bankrupted the state and ended with nearly 200,000 people being cut from its roles. >> we need to look at those, and say, what should have been the lessons learned from here? what are the perils. >> leeann lynch learned hard way. she said 10 care let her down on, just before she needed eight life saving bone marrow transplant. >> 10 care sent a letter at the beginning of june saying they would probably drop me. >

moody's was able to offset some of the recent bad blood voungd its alleged role in the current financial crisis. sales jumped 10% after one analyst's upgrade. after the bell action on tuesday included upbeat earnings by nike sending shares up 4%. and saks fell after hours on news the retailer is offering up to $100 million in new shares of stock. >>> finally, it looks like this halloween season could be very frightening. at least for retailers. a recent survey shows americans will cut back on candy and make their own costumes to save money. those aged 18 to 24 who typically spend the most plan to spend 18 fewer dollars than they did last year. >>> does anybody want to clinch a playoff spot? divisional and wild card leaders have trouble sealing the deal. >>> plus, the hard-charging twins play a desperate doubleheader with the central leading tigers. your early morning sports headlines are straight ahead. >>> and we'll have storms out west, cooler weather to the north and east. your regional forecast is coming up, and you're watching "early today." >>> good morning. if you're just waking u

i like moodies. they are the only game in town and legislation it reform them -- sfl kneel? >> this cheap because it has a lot of problems. david: that is it for "forbes on fox." see you next week. >> it is the sick truth. >> you can't handle the truth. >> oh, yes, key can. another "cashin' in" exclusive. how the battle over the healthcare reform is saving the economy. now they are leaving american to get the american dream? >> good morning, my neighbor. >> top earners bolting for better pay in other countries. where are they going and who is trying to stop the brain drain? it is an outrage alert. hollywood hypocrisy hits a new level. >> why is obama trying to abort healthcare? >> aren't these the same movie stars making millions working on bobs office disasters? all that and talk about a big pay day. american men willing to work for sex? >> you want to be my pimp? >> it is good work if you can get it and we have it here and only here. your money, your life, your show to stay ahead of the game. "cashin' in" starts right now. >> mr. chairman, i'm not delaying. i'm making an e

he's mark zandi, chiefconomist at moody economy.com. >> taxpaye will spend trilons of dollars to quell the financial cris and great receion. tarp, auto bailouts, morage modifications, fiscal stimus, etc have worked totabilize the financiasystem and end the debilitating downturn. but taxpayers serve much more r their money. for l of the trillions in llars they should get a financial syem that is much less likely to sufr another crisis, ateast not a cataclmic one. this reqres comprehensive financial regulatory reform. the obama administration h propos a wide range of changes,nd while not everything is toy liking, in broaterms the proposals are good. king the fed as a systemic sk regulator makes sense, as doesutting derivatives trading on exchanges. establishing a more ratiale and early defined mechanism for resolving trbled financial initutions is also vital. also important is forming e consumer financi protection agen. the neagency would be responsible for enring that there is a minimum s of standards that all finanal institutions mt follow when priding credit to consumers. judging from

moody's economy.com has crunched the numbers, and we put it on a map for you. this is a map of job growth in america from the middle of this year to the middle of next year. divide it up by state. let me show you this ledge. anything in orange, dark orange or red say those states are likely to lose jobs overall, and those in gold, yellow, or bright yellow are likely to gain jobs. take a look at this. the only state overall slated to gain jobs between the middle of 2009 and the middle of 2010, texas, maryland, and the district of columbia. that's the overall job situation, but what we often talk about is that there's really robust growth in certain specific areas of the economy. i have two copies of the same map. i want to show you when we go away from all sectors and move to job growth in health care and education, take a look at how this map changes. all of a sudden you've got only a couple of states in the red. only a few in the orange which means they're losing jobs, and almost every other state is gaining jobs. some more than others. there's a whole improve

moodies, talking about mon santo as well. it was a drag throughout the day today, seeing earnings at the lowest end of its range. that's the story here. our team, of course, is covering the markets. we begin with bertha up at the nasdaq. we've been talking about the technology story as a dominant story today as well. >> it's an interesting story. you've got companies themselves sort of saying they're seeing a little bit of an uptick, we've worked through some inventory, and they're starting to see some demand and a turn in the corner. that's the case in terms of yahoo! saying they're seeing better performance there than they thought. they thought the valuation much more attractive. yahoo! close to the highs of the session, up over 4.5%. ebay getting an upgrade at montgomery scott. scott was talking about new highs. we're seeing them quite a bit in technology. oracle hitting a new high. we're seeing money come into these stocks. seagate technologies. software, staffing, we're seeing that there. and especially in the chips base

we will talk to steven cochrane from moody's economy.com, managing director.e will be with us right after this. >> c-span's supreme court week is just a week away, featuring personal interviews with each of the currently serving and retired supreme court justices. get an insider's view of the people and places, that make up the nation's highest court. >> why is it that we have an elegant, astonishingly beautiful and posting impressive structure? it is to remind us that we have an important function. and to remind the public of the importance and centrality of the lot. >> supreme court week, sunday, october 4, on c-span. and to complement our original production, c-span offers teachers for resources on the judicial system at c-span classroom.org. >> the c > theam contest ends here. -- >> thus c-span student cam contest is here. just create a video on one of our country's greatest strengths or challenges. it must incorporate c-span programming and show varying points of view. deadline, january 20. when injuries could be shown on c-span. grab a camera and get sta

kick it off with moody's. again, again, again. down 4%. karen? >> it's groundhog day for moody's. had a hearing that was postponed while they reviewed the whistle-blower's information. not a good thing here. >> pop here for american greetings. up 30%, joe. >> apparently a lot of people are sending each other get-well cards or something. i mean, they improved cash flow. great earnings on its way to 20. you want to own it. go right ahead, not me. >> pop here for a123 systems. pop of 51%, tim. >> hybrid cars you need litium ion batteries. a lot of excitement here. $2 billion company, i'm not sure it's worth that much. >> guy. >> microsoft said not interested in buying. i say balder dash. they might not be but somebody will. i still like it. >> a pop here for trans. what do chinese president hu jintao, burke shire and microsoft and bill gates all have in common? they all wear the same pants. not the exact pair. the same pants. the bigwigs get their suits from trands. made a video for the company's 30th anniversary. he apparently owns nine trands suits so they might be fine suits. >> t

. >> reporter: moody a magnificent smania. has a dna trail that stretches bk to antarctica a 200 llion years. he nature is awesome a humbling. ecoours are a specialty of this auralian island where sighseers are given a unique glimpsento how our planet evolved in the pastnd where it's heading the future. >> i've seen small changes i what happening in the environment. and here i feel like there's fair chancthat i'll be part a generation of ople that will be the la to see and experience what some aspec this coinent has to offer. >> reporter: and for goo ason. there's nothing betwn taania anthe cold waters of the south pole. >> theemperature around tasmania has ris by about 3 degrees in t last years. which doesn't sound li a lot bu enough to change the marine system here. with temperatures pdicted to ri furtr, it poseserious questions about what the future holds. >> reporter: tasmania is renowned for its nature a richness of marine life, me to a variety ofpecies including seals, dohins and whales. but nare and man a faci seris all

. >> reporter: moody and magnificent tasmania. it has a dna trail that stretches back to antarctica and 200 million years. here nature is awesome and humbling. eco tours are a specialty of this australian island where sight-seers are given a unique glimpse into how our planet evolved in the past and where a stark warning about where it's heading in the future. >> i've seen small changes in what's happening in the environment. and i feel like there's a fair chance that i'll be a part of a generation of people that will be the last to see and experience what some aspects this continent has to offer. >> reporter: and for good reason. there's nothing between tasmania and the cold waters of the south pole. >> the sea temperature around tasmania has risen by about 3 degrees last 30 years. which doesn't sound very much but enough to change the marine ecosystem here. with temperatures predicted to rise further, it poses serious questions about what the future holds. >> reporter: tasmania is renowned for its nature and richness of marine l

j, you're watching moody's. >> warn rwarren buffett has run the bell.e's sold twice in the last two months and the quarter is just ready to close out. it's going to be a miserable quarter for moody's. they've already lost 33% of their market wrap. that's about a half a billion dollar hit to warren buffett's 48 million shares that he still owns. normal activity is 3,000 put options a day, melissa. today we're approaching 50,000 puts in moody's as it breaks through 20 to the downside. volatility has doubled in the quarter. i look for the stock to test those march lows down around $16. i am short this name, and i remain short. >> you were short through the put, correct? >> i am short through ownership of puts, yes. >> okay. good to know. that's your "power lunch" trade to go. time to call the close. let's go around the horn. do you buy or sell going into 4:00 p.m. eastern time? j.j., kick it off. >> i'm going to be a buyer based on r.i.m.'s earnings. >> staying short with my tight stock. >> christopher. >> i definitely would be short here again with the st

host: from west chester, pa., steven cochrane, managing director of moody's economy.com. a new report on the construction and housing market in the next decade. thank you for being with us this morning. host: wanted to take a look of the overall findings that, that the housing correction is bottoming as home sales and construction stabilize. prices will decline for another year, making this the steepest correction on record by many measures. tell us about your methodology. how are you able to look out 20 years or so and calculate how the market is going to do? guest: we have a economic forecasting models. one of the most and -- most important points is a balance between demand, largely by looking at the projection for growth in the number of households, and supply. we know how many houses are in the ground right now. we have projections of construction activity going forward. so we can make an estimate of the supply-demand balance over the long term and then more broadly simulate the behavior of the tollway economy so you have the estimates, the pace of unemployment growt

after 21 years on the force, lieutenant joe moody has seen the worst of the worst. [ bell rings ] still, all that experience doesn't prepare him for what happens at this quiet convenience store. [ bells rings ] >> ugh! >> narrator: a masked mugger storms the mini mart with a tire iron and targets the most helpless of victims. >> not only was he mentally challenged, he was also deaf. the guy come up from behind him. he never heard him, never knew what was coming. that's just mean. >> narrator: the handicapped patron crumples to the ground... >> ugh! >> [ screams ] >> narrator: ...as the vicious thug ransacks the register. he even rips the clerk's cash right out of her pocket. then he tries to finish off the witness. >> the brutality, the cowardice of this guy -- i mean, it's unbelievable. >> narrator: luckily, the second swing misses the crippled customer. but the battered man is too terrified to fight back. and the thief makes a mad dash for the door. [ bell rings ] the cashier calls 911, and an ambulance will rush the customer to the hospital, with a severe head wound. >> not very ofte

diaz said he believed some of the opposition to president obama -- moody's said he believes some of the opposition to president obama has a hint of racism. there will be two more debates. >>> it principle is expected to make a decision on the fate of the head coach. the football team took to the field for the first time since marked maradei was suspended. he is accused of shoving his players. parents say he is an excellent chance -- an excellent coach and should be given another chance. >>> the latest on a summer rice sort of attack in baltimore. authorities did not believe the johns hopkins student did not have the it sent to kill when they confronted and a trooper. he killed a man with a single swipe of the sword. prosecutors have not decided whether any charges will be filed. >>> there are more problems for acorn. the house voted to deny all federal funding for the scandal- tainted community group. the monday -- on monday, the senate so similar action. video shows employees apparently advising a couple posing as a prostitute and her pimp to lie about her profession and launder her ea

the former managing director of moody's analytics. thanks for coming in.reat to see you. >> thanks for having me. >> you warned early on, back in january that there was still a lot of funny business going on at ratings agencies. why don't you explain what you got. >> the specific warnings i sent to the compliance group was that they had changed the methodology for rating deals blacked by leverage loans in december. yet in january they rated a transaction without taking that information bo account. they knew they were going to change ratings and ratings were going to go down substantially. yet when they rate add new transaction in january -- >> based on those securities. essentially a c loan, they didn't take that into account. >> the issue we are still paying the freight? writes the reason for them doing that? is it a -- >> i don't know. i can't speculate. i don't know. >> i don't see why they would do that at this point? >> i don't know. >> you have no idea for motive, if you were to look for a diabolical motive could you find one? could you connect the d

this latest moody's report says it could be a decade before we recover from the housing bubble burst charles payne is here to talk about what it means for not just homeowners but the larger economy and charles i was stunned to read it and i'm turning to it now, ten years to recover, 40% in losses? really? >> right, first of all it is made's opinion from the boom to the absolute bust, and where the average home lost 40% of its value and will take ten years according to them and i have to tell you, gregg this is also part of the whole new economic reality that i think a lot of us have to get used, to though i will say, i'm not nearly as pessimistic as they are. >> gregg: what about this rally in homebuilders stocks, i looked at the case schiller index and prices of single family homes in the top 20 cities, in addition to the homebuilders stocks rose in june for the second month in a row, what about that. >> we have positive trends and in fact existing homes sales are up for the first time four months in a row for the first time since '04 and there is the unique aspect, the first time h

moody's reiterating its negative outlook for banks.nasdaq. >> we're seeing modest gains come in the internet and chip stocks. we have yahoo! and ebay both getting upgraded. google entered the electronic medical records. now dell is joining google and microsoft launching a product that's having a pretty good day. up 3%. the weird thing is despite the fact you have texas instruments upping its guidance, it's to the downside. three of the biggest components in the stocks are kind of dragging the sector despite the fact you hear from some of the other who boosted their outlook and say they see things turning, they see more demand. you do have a few communication chips today, also lamb research and others hitting new highs. nvidia hitting new highs. we look on the hot board. along with them in the other area in the tech sectors is the gamers. we have a downgrade of electronic arts to a neutral. one last sector to look at coming back out to the wall, we've got the airlines today moving higher on an upgrade of united over at jpmorgan. it's up

moody's real commercial property price index fell 5.1% in july from the month before, and that may be precisely why investors want to get in now. witness three new ipos this week. apollo, and barclays symbol, ari plans to invest in commercial real estate securities and corporate debt. foursquare capital plans to invest in commercial and residential mbs. mortgage loans and asset-backed securities. colony financial, managed by b of a merrill, morgan stanley and ubs, planning on commercial mortgages and real estate, looking to raise $1.4 billion in ipos. >> there's a lot of money standing on the sidelines. tons of money flooded in last week. you can look at the major reits in the country and they've done essentially rounds of new money raising, which will help them defer some of their costs. >> up 84% in the last six months. in that same time, 60 different reits have raised more than $16 billion in new equity, as for the decline in commercial real estate value reits can only take on 50% debt of their investments so they're not as hard hit by the declines. industry folks tell me these rei

copyright national cable satellite corp. 2009] >> tomorrow, steven cochrane, managing director of moody's economy talked about his companies report on housing prices. former secretary william cohen looks at the obama administration's options in washington. author william ouchi talks about his new books, and the latest on treatment and research of alzheimer's. "washington journal," live at 7:00 eastern on c-span. >> up next, remarks from u.s. central commander david petraeus. then we will show you a house hearing on renewing the employment nondiscrimination act. after that q&a with senate historian richard baker. >> an event now with u.s. central commander general david petraeus. he talks about the situation in afghanistan. it was part of an event hosted by the marine corps university here in washington. it is about 90 minutes. >> good afternoon. since the fourth of september, i have been the president of marine corps university. it is our pleasure to be with you here today. before we get to our last panel and our keynote speaker, i would like to take an opportunity to thank all the people

. >>> california's attorney general has issued subpoenas to moody's investors service, standard & poor'sngs company's role in the crisis. they are looking into whether the agency violated state law by giving better ratings to shaky assets. that is cnbc, first in business worldwide. now back to msnbc. >>> i'm norah o'donnell live in washington. >> i'm monica novotny in new york. police are looking into possible motives for the murder other of yale grad student annie le after raymond clark was charged thursday with the killing much the two worked in a research lab that conducted experiments on mice. lee's body was found last sunday stuffed in a crawl space of the basement of the yale lab building. the hartford current is reporting the crawl space contained dna from clark as did bloody clothing hidden behind a ceiling tile. the newspaper also reports that investigators witnessed clark trying to hide lab cleaning equipment that was found to contain blood splatters. >>> now to the bigger picture, who is raymond clark? here is what we know a lab co-worker says clark was very controlling about

moody's down 20%. aig there and back and there and back again. up 11% this week.ly, the transports, the dow transports, not surprisingly, i guess, given the kind of cyclical retreat we saw toward the end of the session here today, the dow transports were down about 4.3%. so much worse than the dow and the s&p. conway down about 15%. but yrc, little yrc trying to make a comeback, up about 15%. and lastly the russell 2000, chelsea therapeutic just blowing up 15% and perot systems of course acquired by dell. back to you guys. >> great summary, matt nesto. thanks so much. thanks so much for watching. "fast money" is up next. you have a very good night. >> announcer: this is cnbc.com "news now." >>> world leaders at the g-20 summit in pittsburgh agree to maintain stimulus programs until a recovery is assured. in the 95th bank failure of this year, regulators closed atlanta's georgian bank. its $2 billion of deposits will be assumed by first citizens bank of south carolina. >>> and the "wall street journal" reports china's sovereign wealth fund is committed to invest ab

david einhorn on "squawk box" this morning talking about moody's and s&p, losing a verdict that they are not allowed to use free speech as a defense for less than stellar research. >> pop here for -- >> it's mcdermott here. credit suisse upgraded today, raised the price target to 31. they talked about their nuclear potential. a-ha. stock broke down to 32 last september. i think that's where it goes. >> and i know, by the way, fyi, mcdermott. >> i know. >> manitowoc. >> nucular. >> pop for mccurry. a malaysian restaurant wins an eight-year trademark battle overt use of the m-c in its name. malaysian chicken curry and the mccurry. and says mcdonald's does not have a monopoly on the prefix mc. what's next? >> i'm confused. >> mctowels. >> i knew you were going to pull that one, pedro. >> pop for harley-davidson, hog, up 8%. >> they raised the price target. also talked about the improving sales from july to august from down 30% to only down 15%. you've got to like what's going on. plus the new ceo, they like the new management team. big pop today. >> allegheny. >> this is one of the name

i'm much more irritable and moody... >> [irritated] what are you trying to say?lt a burst of energy. i didn't have the irritability that i usually do. >> you wanted to drink the bottle, you didn't want to throw it at someone, yeah. >> exactly... able to sleep as well. i slept a lot better. thank you. i'm really excited about this product. >> o.k., so, dr. bob, o.k., she just brought up a really interesting point to me. she talked about perimenopause. what would you tell mindy, say, about perimenopause? >> well, the great thing is that gem is treating the symptoms of hot flashes, night sweats and irritability. because of that focus, this product is extremely useful for perimenopause, hysterectomy, menopause, post-menopausal hormonal imbalances. >> marie: pretty amazing, huh? hoo! love that. [applause] >> women: ♪ gem... keep it cool. ♪ >> this is an answer, this is a solution to a problem that affects millions of women every year. >> once you get rid of night sweats and hot flashes and irritability and sleepless nights, you're a new person. >> i have more energy t

. >> moody's with a drop today 8% was the move. >> it's a drop a lot of days, actually.just piling on. now looks like a whistleblower. that was in today's "wall street journal." and one wonders if one should keep selling or not. >> tipoff favorite is a drop today. walter energy. >> guy's been talking about it. couple of downgrades today. can't fight the wave that is guy adami and pete najarian. >> don't fight it. can only hope to contain it. >> drop here for the donald. donald trump, that is. despite sweetening a deal with scottish homeowners, residents are unwilling to sell their land to the real estate mogul. trump has been trying to buy out property owners as he looks to extend a luxury housing and golf development. he began a year ago on the meany estate north of aberdeen. i don't know if i said that correctly. >> sounds like the beginning of a bad day for the donald. >> beginning. >> the beginning. >> don't know why it's just the beginning. pop here for lowe's, up 2%, joe. >> still recovering from the august 17th sell-off. i like home depot much better. >> also got

analysts from moody's, economic policymakers, and others, estimate the recovery act has created or saved thousands of jobs. as 1 millionn @ bill: we will talk about that in a minute. first, we have stu varney. 9.7%. >> the market is on to 10%. increase. you need to create her 100,000 new jobs every month in order to keep the unemployment rate stable. instead, we are killing 200,000 jobs or more every month. that is why unemployment is up to 9.7%. bill: let's see what the president said about the stimulus plan. have we created or saved all of these jobs, 750,000 jobs? >> you cannot prove it. at the best, joe biden is spinning, and at worst, he is telling us the wrong information. he claims that we spend just 12% of stimulus. if he is right, the stimulus plan great torsades 7 million new jobs, which we have not seen. this is fantasy land. maybe these are in green john's creañed by van jones. bill: you could argue that it is worse. worse. we are told he may also look for a government-run insurance option. the you think that they will of congress in the eye and tell them, no? no public optio

this is not about being over tired or a little moody this.m and it can have significant consequences to both the mother and the baby. and so the sooner it's identified, the sooner it can be treated. and those treatments can include everything from medication to talk therapy to even things like yoga. it's very important. great question. >> good question. >>> this one, we have another question from adrienne who says i am pregnant and have come in contact with someone with the flu, what do i need to do? that's a good question. >> very important. and the first thing i said to her, communicate with your o.b. doctor immediately. does not mean you, yourself, will get sick. but we know pregnant women are at a much higher risk of serious complications and early treatment with things like tamiflu if you were to develop symptoms is very important. >> and this can be done? you can do it? >> absolutely. >> next question also from twitter. she wants to know if there are breast cancer testing options for women under 40? >> sure. the first thing is a good fa

moody's just out saying credit card defaults rose to a record level in august.until some time in 2010. we've heard the government say that credit card debt has gone down by a record amount in the latest quarter. we've been asking you folks your observations on the economy and as we all know, real estate's local, recovery is local as well, whether or not you're getting it. reese in dallas is at a foreclosure conference, been there sunday since. attendance was 5,000 people, which is more than last year. no expense being spared there at that foreclosure convention. sandy says in her neighborhood, three neighbors on her street replacing sidewalks and driveways. one house on the next street just completed a massive renovation that turned a tiny ranch into a mansion. two others are putting on large additions and one is gutting the kitchen. the last one, helen in colorado, a local liquor store put an ad part-time, $10 an hour, 50 applicants. two men with families who were just laid off. many live over an hour away. we'll get to more of these as the week progresses. >>>

yesterday after the bought, moody's did cut their credit rateling. that's frankfurt. over to paris and stephane. >> and that is still a negative session for the friends session. airbus raised its expectations for the next year expecting 25,000 aircraft to be sold on this period. however, it's a limited increase if you compare to the previous guidance. the commercial director of airbus wants some airlines could postpone or cancel their orders because of the economic crisis and he warns that airbus may have to cut generalities production. the stock is now off by 2%. trading lower, the bank despite the positive announcement this morning from goldman sachs which raised its price target for all the french banks except for societe generale with a positive rating, a buy rating. societe generale is down 1.6% despite this positive anoinsment this morning. renau renault, the french carmaker is going to simplify its structure to help with the current market conditions. the newspaper is quoting the coo of the carmaker who wants to adapt renault to the market's expectation for the

i'd like to draw your attention, also, to a report in the fs this morning, indicating that moody's do not see sovereign debt downgrades, in particular towards the u.s., uk, germany, france or spain. there has been quite a bit of speculation that the uk could be in for this. equity markets, dollar cross rates, that's another thing, especially ahead of the bank of england's rate tomorrow. we're anticipating that the bank of england will stand pat. no change to its interest rate at the moment. christine, how are the markets in asia looking? >> asian markets retreating after yesterday's spectacular gains. we are seeing a bit of a pullback, the strong yen in japan is hurting the exporters. the kospi pulling back 0.7%. the shanghai market, one of the few markets in the positive side. we have talk coming from shanghai that regulators were slowing down. that seems to be supporting the market. but that didn't help the hong kong market, down 1%. and australian markets slipping a bit after a surprising drop in retail sales data, as well. in terms of nymex light sweet oil, we are watching the ope

a big question has been with both s&p which is the mcgraw property and moody's.ose rating agencies, what went wrong, what was the problem? there are some people who accuse fraud. listen to what terry mcgraw had to say earlier today when we asked him what went wrong. >> from our standpoint on the regs dengs mortgage-backed securities and the commercial mortgage-backed, we had the housing recession wrong. now, the fact that a lot of other people had it wrong doesn't help, but we don't like that, and those -- that's where our problems began. >> there's a lawsuit that's been moving through district court in new york where they've thrown out 10 of 11 counts. the one that's still sticking around with fraud. terry mcgraw said fraud is not happen in our house. >> i don't know what the details are from a legal perspective, but i think the big picture here is a lot of people rested their case on the idea that we've had 30 years of data with no systematic decline in home prices across the united states, and they just thought that could not happen. i think what last year pro

moody's eric is going to testify.e went public this week with allegations that credit agencies are still inflating their ratings. we are monitoring this. we will bring you any developments. it is a fascinating part of this whole financial crisis story. >>> up next, the g-20, together make up more than 80% of the world's economic activity. but what happens when those 20 nations get caught up in a global banking battle? >>> and then, famed investor julian robertson on what stocks he's buying now. it's another interview you'll see only on cnbc. >>> plus, how one company says it can single-handedly cut wastes from our health care system. the ceo of e-health coming up later this hour, right here on "squawk on the street." bbbbbbbbb >>> we just got existing home sales. unexpectedly falling 2.7% in august. the other piece of data tomorrow when the census bureau releases new home sales. let's bring in our task force to talk about the challenges ahead for the housing market. senior seller with brookings and tom, economic and h

from moody's a reaffirmation under their system what just be investment grade. as for acs, i believe that is up -- well, we don't have t we'll take a look at it later during the course of the day. scott, back to you. >> david. speaking of deals. pfizer receiving chinese antitrust approval for the pending wyeth acquisition, up 30% since the march bottom. jeffrey kindler talks about the challenges ahead for this company including a $2.3 billion fine in tonight's new cnbc series executive vision. >> i very, very much regret the conduct that led to that conclusion. that involved a drug that was pulled from the market about four year ago. we act nothinged the misconduct. since the time that occurred, we've made significant improvements in enhancements our compliance systems as we sit here today, we engage in extremely robust training, with vi a compliance officer that reports directly to me. >> but does that change the culture and the values? >> at great question, symons many. we're working on it all the time and reflecting it in people's compensation systems. we've

first phone call wanted to make sure that i saw that moody's is sticking with their negative outlook for u.s. banks. they believe they're going to be unprofitable because they have poor quality assets. you know, toxic. and the next phone call came out and said, a trader, hedge fund trader saying don't pay any attention to it, you know, i don't have confidence in the rating agency. so i'm not sure how you take either one, but it's still something being talked about on a day where treasuries have moved higher in yields, higher in price and moderate way and we look forward to 12 billion and 30-year supply to cap off the week at 1:00 eastern. mark, back to you. >> thank you, rick santelli. >>> president obama saying the time for bickering is over when it comes to health care reform, calling for quick action on a comprehensive over haul. but is a deal on health care even possible at this point? joining us first on cnbc, tom carper, democratic senator from delaware, member of the senate finance committee. senator, thanks very much for being with us. >> my plea sure. thank you. >> i want to

carolina, wowza, how about that, simon cowell, moody guy. are you surprised? >> not at all. love this letter. i think it gives us a realistic look into who simon cowell is as a man. this letter to his younger self, it gave us a look into a guy who normally we think he has this cold, black heart and it kind of made him a little bit more approachable in my opinion. >> i was just surprised he did it at all. i've never seen him really being into writing that personally. i want to move on to hugh jackman. during his broadway play, jackman and daniel craig were rudely interrupted by a ringing cell phone in the audience. the best part was how both hugh and daniel handled it. take a look at this. >> i can't imagine being that person. i think it kept ringing because the person didn't want to admit it was his or her phone. jeremy, you've got to think that anybody who has ever been annoyed by a rude cell phone is about to stand up in the living room right now and cheer, right on, guys. >> just like all the people in that theater did. and if all the place to have your cell phone ring at

we showed you what job growth in all sectors according to moody's economy.com will look like next year9 and 2010. here's what it looks like if you're looking at health care. obviously much better prospect for you, those yellow and gold mean that there will be job creation. another area that you should think about if you want to get a start is government. take a look at this. this is that original map of job growth in all sectors across the united states from the middle of 2009 to 2010. let me show you what it looks like when you move it over to government jobs. the map is even more optimistic than health care. there are no dark red states here or dark orange states, a few that will be losing jobs. the majority of states in the united states will be adding government jobs. remember, a government job can be many, many different things. we'll talk about that in detail when we come back. you're watching the cnn money summit, "money & main street." t now called add it up. add it up is a way for a customer to shop online and earn extra cash back. we do have a power rewards program. where you

are happening today, the way that some of these structure products are still being rated that maybe moody's-- can't remember which one he was talking about -- aren't necessarily following their own guidelines on ratings today. >> that's correct. we have these whistleblowers that come in to talk about what's really going on. we want to get a handle on this. because people are really, really hurt about what occurred. so, we have a hearing today to sort of look to see what information we can collect and what we can do to turn this around. to me, you have to look at the structure itself, the fact that they're being paid to make a decision and to do -- give a rating. of course, they're being paid by the people that they're rating. that, to me, is something that ne needs to be reviewed. >> congressman towns, it seems to be emblematic of all the things that are going on now, public versus private, and trying to square the two. some sort of public trust along with the benefits of private enterprise. who else are you talking to today? give us some idea of who you will be calling to provide some test

caller: i watched for several hours when officials from moody's and standard and poor's sat in front of a congressional committee. they blatantly said they gave high ratings to those instruments. after they were sold their original should have been d but got a and aaa ratings. if there is no punishment for these people who transgressed, there will be no lessons learned. people have said they made a mistake and will correct it. there were people who did not even own the stock and were able to purchase it and sell it. it is so crazy that even i who invest in the stock market marginally could not follow this. is massive fraud. guest: the sec which is led by chairman mary schapiro is taking a look at both of those. we need to enhance our oversight of the ratings agencies. the agency is taking strong steps on that. they are addressing short selling. we have gethsemane areas of financial reforms to address, some with congress, we have to ensure oversight for derivatives, some within our jurisdiction. the cftc is looking at position limits. as you mentioned on the ratings agencies and short

moody guy. are you surprised. >> not at all, but it gives us a look at who he is. this letter to his younger self, it gives awe look at a guy who is this cold black heart and made him more approachable in my opinion. >> i was surprised he did it at all. i have never seen him to be into writing about himself. i want to move on to hugh jackman. during his broadway play, he and daniel craig were rudely interrupted by a ringing cell phone in the audience. the best part is how they handled it. take a look at this. >> i cannot see his face. all the time his face -- you want to get that? you want to get it, grab it. i don't care. grab your phone. it doesn't matter. come on. just turn it off. you have a better story, get up here and tell a story. [ applause ] you can get that? whoever that is, can you get it. we can wait. just get the phone. don't be embarrassed. just grab your phone. you got it? good. great. daniel took it hard. >> i can't imagine being that person. it kept ringing because the person didn't want to admit it was his or her phone. anyone who has been annoye