moody's has cut the debt by two notches to ba 1, down from baa 2. the agency leaves the rating with a negative outlook suggesting a further downgrade. >>> after the global credit crunch, slovenia experienced a corporate failures mainly in the construction agency and left the banks with a huge amount of bad loans prompting the state to put these institutions under state control. moody's said it made the downgrade because slovenia may have to pay more public funds to disposition of the growing loans and fear the government itself may need a bailout from the eu and other international organizations. >>> still in europe, the yo eurozone's unemployment rate hit another record high. the 17 member countries continue to struggle with recession. the jobless rate hit 12.1% in march. this was up from 12% the previous month, according to official figures from euro stat. spain had the highest rate at 26.7% followed by portugal and cypr cyprus. the latest available rate for greece in january is 27.2%. nearly 60% of workers under 25 are jobless in greece. the figu

chris moody from yahoo! news, follow him on twitter at chris underscore moody.diqui, follow her at sabrina siddiqui. thank you so much for being here. i appreciate both of you guys coming in. thank you. >> thanks for having me. >>. peter ogborn filling in for bill. i'll be right back. >> announcer: this is the "bill press show." we have a big big hour and the iq will go way up. (vo) current tv gets the converstion started weekdays at 9am eastern. >> i'm a slutty bob hope. >> you are. >> the troops love me. (vo) tv and radio talk show host stephanie miller rounds out current's morning news block. >> you're welcome current tv audience for the visual candy. just be grateful current tv does not come in smellivision. the sweatshirt is nice and all but i could use a golden lasso. (vo) only on current tv. current tv is the place for true stories. with award winning documentaries that take you inside the headlines. documentaries... on current tv. >> announcer: this is the "bill press show." >> peter: it is the "bill press show." the physical court press -- the "full cou

we just saw moody's upgrade the banking sector for the first time since 2008.highest since 2008. so, obviously, this handoff between the fed to the real economy is working. and yields will obviously backup because the economy is getting stronger. >> what about that, michael? >> i hear a lot of 2008 in that rhetoric, which concerns me a little bit. but, you know, i think we have to be really, really cautious here. you have this real disconnect here between the stock market and the bond market all year. the stock market has moved higher. bond yields have now been very, very jumpy. i think in general, if qe, this whole issue of tapering, has to be considered in the light of inflation expectations. how can the fed really taper if inflation expectations are falling, and they have been, really since the end of january. there is still this reflation disconnect between the story of the stock market and the bond market? >> i think the other problem is that the fed is talking about tapering, because as the deficit falls, they cannot be the only buyer of treasuries. they

moody, immigration.omething that we will see congress return to when they come back after the memorial day recess. what are you watching to happen next, what are some of the big stories unfolding? guest: there have been so many developments. one of the fascinating stories is marco rubio's effort. earlier in the year, he went on a blitz of conservative talk radio shows trying to explain, make the case that his bill was a conservative approach to immigration reform, and that conservatives and tea partyers should be on board with him. by now there is a movement of what should happen in the future and how they should approach this, but the bill went through committee, and it will get to the senate floor here soon. there will be quite a bit -- a bit of drama here in washington. the question is whether they can get it done this summer. i think they need to. recall 2009, health care, all the lawmakers went back to their districts over the recess and koppell for it. right now, house and senate republicans who su

we'll talk more about that later in the show with chris moody. for now let's not forget behind the flashy washington scandal is a real issue threatening our democracy. the founder of the tea party patriots patriots has been the most outspoken against the irs. there is evidence that her group has shall we call creative accounting. the group received a million dollars donation, but never disclosed where the money came from and then another done for, raymon thompson lent the group, quote, unquote, his private jet. and this group is claiming to be a nonprofit, non-partisan organization to get tax exempt status. even some of its own members complained about the lack of transparency. marina peterson said quote . . . now that folks would be a scandal. now there is some non-scandal-related news out of washington today. the senate judiciary committee voted 13-5 to move the immigration bill to the floor. the bill has it stands now is strong, and it actually got stronger during its time in committee with the panel approving some very good amendments. severa

and we are strong enough that just this week,-moodies increased our ratings for the general obligation bond very few cities can say that is happening in their down right now. we did the right things create reserve after reserve i have been in those rating meetings and they are like interrogation meetings kind-of like a deposition if you have been to one of those and they are asking every single question that is hard to answer questions like if the state famous you what are you goingdo about it? what do you have in place if the federal government fails in their successstration what programs are failed here and what plans do you have to recover?. if you are not answering those with a lot of confidence you are not going to get the moodies rating increased at all and if you are able to do that with a solid t and i want to thank again the board of supervisor and is i know supervisor chu and reno are here today but i want to thank the entire board for creating an entire investor confidence because it's that level of collaboration and partnership that we need in every one of our economic disc

glen rogers and moody, carroll. thomas (inaudible) and aubrie freeman. >> hi, members of the audience, your honor, dignitaries here. i am up here and i am coming here from the park coalition. and it is in the upcoming neighborhood in the city and i believe that it is going to be a star neighborhood for the city and working closely with the department of public works and to work with the parks department and the mta and your honor, and the supervisors and we have a wonderful new supervisor and including tang over here and but, i did not come here to address that. what i wanted to do was to address something that i believe effects all of the whole city. and rather than it is not a criticism, it is a suggestion. this is a facility for example, if it was offered, it is not always being used it is not being used now, so we are using it during the summer and other times throughout the year it is not being used. our city has fought with what i call the assets and in other words, the assets that could be utilized to increas

lou: moody's chief economist joins us next on improving the job market.e was the death penalty -- death penalty, but is she doing that reverse psychology think? we get to the experts to talk with two leading psychologists in the "lou dobbs forum" next. in the "lou dobbs forum" next. what is going on in her head? welcome to the new buffalo... where new york state is investing one billion dollars to attract and grow business... whe companies like geico are investing in technology & finance. welcome to the state where cutting taxes fobusiness... is our busins. welcome to the new buffalo. welcome to the new buffalo. welcome to t new buffalo. new york state is throwing out the old rule book to give your business a new edge, the edge you can only get in new york state. to grow or start your business, visit thenewny.com how do traders using technical analysis streamline their process? at fidelity, we do it by merng two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible e

lou: moody's chief economist joins us next on improving the job market.the death penalty -- death penalty, but is she doing that reverse psychology think? we get to the experts to talk with two leading psychologists in the "lou dobbs forum" next. what is going on in her head? n do we dare find out? ♪ the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzeeare. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] uchdown confirmed. we're safe on mars. [ cheers andpplause ] ♪ hi. [ baby fussing ] ♪ it's been that way ysince e day you met.. but your erectile dysfunction - itld be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you cabe more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is

moodies, s&ps, et cetera.ut out a security, say, sub prime mortgage backed securities, they then shopped the rating to the different rating agencies. and they would give it to whoever would give them a aaa, basically. it was a total conflict of interest. rating agencies knew if they didn't get the aaa to a product they wouldn't get the next gig and wouldn't get the fees. so i guess analogy would be a figure skater who pays the judges in a skating competition to give her all tens every time. >> our audience is very familiar with this. >> okay. >> it's very much like what went on in the '90s about the analysts pushing stocks to get the investment banking business. we get it. >> this is what my amendment does. this is what my model does. instead of pay to play, which is what we have now, it's pay to performance. it would have an independent board appointed by the s.e.c. that becomes self-regulating. and it would assign the initial credit rating of each structured financial product to a rating agency. depending on

as moody told us, he's stopping wherever there's people.ch however she's going to vote and no other events. >> bill: pretty confident. or pretty cocky. i don't know. if you're allowed to get out and about, i would be out there man. >> right. i would. odd. >> it is very odd. he's hustling though. >> bill: what's odd is chris moody told us yesterday. he's following sanford around and at one point sanford is there by himself and has to get to the next event. skees chris for a ride. chris gave him a ride. >> kate did as well. he said to her i'm driving and took her keys and drove to the next event. >> no way! >> she wrote a great story about it. >> that's amazing. getting choaferred by mark sanford is crazy. getting chauffeured by mark sanford is crazy. >> bill: did he realize she's not a south carolina voter? [ laughter ] >> bill: man that is -- i don't know how that one is going to go. >> the fact he has been able to close it -- the poll that came out this weekend to one point. if brings up one point. that's amazing that he's been able to. a

ratings agencies moody's raising its outlook to sbl from negative word has been since the 2008 financialsis. gold falling $8, selling just below eight teen -- 1318 oz. crude-l up, and the bond market on the ten year note soaring to 213% the highest level in more than a year. my next guest says excitement in these markets is coming from orranic growth, not just the fed's easing money policies, but only on -- a matter ofime before we see somethingew. joining us, chief equity strategist for s and p capital strategists. so, you see things movg ahead and tell they don't, is that -- am i rht? >> a pretty good description i think all longer term. a big upward turn for the market, mainly because the economy is staying out of the recession. it is growing, albeit quite slowly. corporate rnings are risg. we are not at stressed levels of valuations, p/e ratios. interest rates are low and quite frany, not a lot of alternatives out there for. lou: today week saw the market moved up. it gave aboutalf of it back. still, a great performance on the day, the data new record high. you kind of wonder, when u

james moody is on the line with us from moore. describe what you are seeing and what this school is. >> i am actually looking at the school right now. it is splays wraw towers -- it is plaza towers elementary school. >> describe what you are seeing if you could, james. >> there is a red car on top of the school that was tossed there. there is children all over the place and parents trying to find their children. there are children still in the school that they are trying to locate. that's one effort we are trying to take care of right now. everything in my sight is completely gone. it reminds me when i drove through joplin, missouri when i went to see my parents where the heart of the f5 hit, and that's exactly what i am looking at now. everything i can see is gone. it is sad. it really is. >> james, it is my understanding that your home was hit as well. >> yes, sir. i'm looking at it. we just got to go in. we saved our wedding pictures and the kids' stuff is all gone. i told my daughters, well this is just an opportunity for you

the financial said been doing very well, despite the failure of moody's to act for just about five yearseir upgrade. housing, i mean, these are remarkable numbers. we are looking at so many quarters of this economy that are doing very, very well. we have ligers without question, but where does this economy go now? and what will be the key here that says to the fed specifically mr. bernanke, it is time to, you know, give very serious and stoic and start talking about taking it from a 5 billion to may be 60. >> when you start with a low number, improvement of that number turns out to be a big percentage change, so we are still looking at housing data that is well below the average is going back to 2007-2008. but because they are very low on inventory levels, because a very small numbers, the percentages look good. that does not mean you should dismiss them. it says that things are healing. our overall economy remains in what i call i have speed recovery mode, all the growing and about half of what the normal rate has been in the first through fourth year of the economic expansion, and we a

moody's cutting alcoa to junk status, citing weak aluminum prices and a tough metals market. costs and improving efficiency is there. they say slower growth in china and the recession on europe will continue to weigh on demand. alcoa says it's disappoint bid the move saying it's a greater reflection on economic conditions and not the company's operating strength. alcoa in german trade is lower by approximately 2% this morning. >>> costco reporting third quarter results this morning, the discount warehouse club operator says profits roads by 20% beating forecast as its low prices for food and gasoline appeal to shoppers. revenues rose and same-store sales were up by 5%. costco plans to open nine new locations by september. >>> and costco, again, in german trade off by some 3%. these are the stores where you go in and you don't really need anything and you come out and you've bought way too much stuff, right? who needs 200 bags of corn flakes at once? anyway, coming up, motorola launches a made in the usa campaign and find out why billionaire and big idea man elon musk says now

moody's came out with earnings.ngs per share and the revenue. the guidance, the outlook straddles right where the street was or what the expectation had been. again, this is a stock we know he sold off shares in the past. the other thing we asked about is after this whole earnings season got the chance to talk to him about ibm. here's what he says he thinks about big blue these days. >> what are your big stocks you had a major stake in recently, ibm. the stock was down sharply. did you buy more after the stock went down? >> i didn't buy more. i didn't sell any. and i won't be a seller of ibm. i might be a buyer from time to time. i think we may have added a little bit this year in the first quarter. i'm pretty sure we have. >> buffett has never been a big guy when it comes to technology. he does not have an e-mail account. a lot of people were surprised when he bought ibm. probably even more surprised yesterday when he actually tweeted for the first time. now he has a twitter account. it said warren is in the house.

moody this will bring you closer together as a family. >> can i ask one quick question. i have been asleep all night. how many of the children did we lose? >> we are being told 51 fatalities and 20 of them are children. >> okay. so that number did not go up. at one point they thought there was 40 more they thought 20 of them were children. >> we spoke with the medical examiner's office and she said she is expecting 40 more to arrive there at the office where she is located but that has not happened yet so. >> that hasn't happened. okay. all right. thank you. >> james, thank you, thank you so much. >> all right. thank you. >> he is going to go hug his girls and his wife. >> more coverage of the tornado will continue in just a few minutes. first another story making headlines. it wasn't just the ap being targeted by the justice department. apparently so is our fox news reporter our very own james rosen. his e-mails were being tracked. peter doocy is live in washington with those details. >> good morning, heather the justice department says my colleague james rosen publishe

moody, you were trying to get home.l us about your ordeal. >> they let it's go from work early to help us be safe. and the tornado was going to directly hit the house, i immediately got in the car and i knew if i came up on the east side of the tornado i would be safe. when i got to 945 the tornado had crossed over 35. so i jumped off the highway and went through the streets until i got quarter mile from the house. couldn't get any farther. jumped out and ran. whenever i got, i saw my children and my wife. i knew everything was okay at that point. they were safe. everything else was going to be all right. >> bill: it must have been an ordeal with you. you weren't in touch with your wife and you didn't know what was going on, right? >> that is correct. the only communication i had received was about 15 minutes before i saw them. she said everything was gone. >> bill: listen, we really are happy that you are altogether. children are fine. they are reunited and build, anything we can do you let us know. thank you for telli

the rating agencies, moody's, fitch, s and p knew if they didn't give aaa to this instrument wouldn't the next gig and big bucks for giving that aaa rating. it was a total conflict of interest. >> and it was very much part of the collapse. these ratings they were saying, all of this stuff is good, then it all collapsed. >> this is why it collapsed. at a certain point they ran out of subprime mortgage backed securities, so they had nothing else to securityize, they decided to do bets. then they did bets on the bets and bets on the bets. >> and the bets have to be rated. >> they had to be rated, aaa, it was great for everybody, they made a lot of money, but americans lost trillions of dollars, lost their homes, they lost their businesses, they lost their pension savings. they lost their jobs. minnesotans lost their jobs because the credit rating agencies didn't do the job they had, the only job they had was to give accurate, objective ratings to financial products. >> you're discussing a wall street issue and people at home go what does this have to do with me? >> well, it created the g

mark zandy the chief jobs report for moody's. thanks for your time. these aren't necessarily strong numbers, but certainly better than expected. what is your headline from this new jobs report? >> it's relief. i think a pleasant surprise. not only that the job growth, i think job growth is slowing, but not as much as fears and we saw that decline in the unemployment rate and this time it happened because of stronger job growth. all in all, i take a lot of optimism away from it. i think the economy is hanging tough. >> nearly three years since we saw the kind of revisions we saw in this report, particularly from february. if you combine from february, march, more than 110,000 jobs that were actually add aed there. why were the original numbers so far off and what does that tell us, actually, about the last several months? >> the data is based on an incomplete survey of businesses and, so, as the bureau of labor statistics gets more information, then they're subject to revision. the upper revisions are very positive. probably means that smaller business

ayesha moody mills, david nakamura, michael epstein. there's a lot on congress' agenda next week.predictions and talk about the headlines that you guys think that we will be seeing next week. aisha, let me start with you, what's the headline? what are we talking about? >> well, the boston bombings are essentially going to derail immigration yet again. >> boston bombings and border security stall immigration reform once again. really? you think that the boston bombing alone is going to derail the entire effort? >> i think that there are several people who have already said like, hey, wait a minute, we should put the pause on immigration reform. we shouldn't do anything right now. in light of the fact that we know two of the young people that were brought into custody for being compliant in the whole thing, we know now that they were here on expired student visas. so that brings up a lot of questions for people on, well, is immigration reform something that's going to be able to tackle that type of issue when there are people here illegally. the reality, though, is that the plan as

down almost 39%. >> moody's has downgraded mf global... >> huge amount of volatility.ock is in real trouble right here. >> smith: so this is like a "what was he thinking?" kind of deal. >> i remember having a conversation with someone at mf global when i first heard about the position. and so i said to the person, "are we talking about millions or billions here?" and i'm... i thought it was millions, because i didn't... i had assumed that if it was that big, it would have been talked about a fair amount. and they said, "no, it's billions." >> i think people saw the magnitude of the bet that corzine made and how leveraged it was on a lile sliver of equity and they sa, "you know what? when you're leveraged 40 to one, you know, the value of the asset goes down, you know, one or two percent, you've wiped out your equity account." >> ultimately the bet he took was extraordinarily large and was maybe more than an investment bank would take. i meananif you're a goldman sachs and it's a huge institution, it can weather the waves of the market like a big ship. he was in a rowbo

. >> look at what moody's did today. the banks are having a good day already. >> if rate does rise, the financials will still be able to do well and they are still cheap and they still need to return to normalization in the form of earnings and they will. >> the best sector when rates rise will be banks because that will signal the economy's better, not only we get the loan growth, but you also get net interest margins improving and they are much more efficient now. we saw commerce bank was downgraded because of their balance sheet. well, guess what? that's opportunity for citi, that's opportunity for b of a and wells fargo can be more than just stage street. >> what's the tolerance in the stock market for rising bond deals? how high can they go? let's say the ten-year, how high can it go before the equity market gets nervous? >> i think that's yet to be determined. that's a very, very good question to ask and it's a question i don't think most portfolio managers understand, except for financials. you know financials hav

sema moody at the nasdaq with results. >> came in at 1.$1.46 billion, slightly higher than the street estimate, but as you pointed out, earnings did meet -- earnings did miss street expectations by a penny, now, mobile was the key buzzword on analyst's minds. mobile ad revenue makes up half of ad revenue, compared to 23% it reported last quarter. and ceo mark zuckerberg, we have seen strong growth and engagement across the community and launched several exciting products. facebook in general has been taking more steps to make its social networking site more mobile friendly. made updates to the time line and other features and unveiled facebook home software for android users to lure in mobile user. back to you. >>> facebook may represent the new media, but old media reported earnings today. after the bell, we heard from cbs, "60 minutes" and other shows. they had a jump in revenue from cable carrier fees. comcast, parent company of cnbc, made more than expected for growth than theme parks and cable news channels, even though it lost more cable subscribers. and time warner made more th

it was downgraded while moody's placed the company in review. shares lost early gains but closed up at 2348. >>> price line.com, announced a billion dollar buy back financed in part by a private debt offering. shares were off 1.5% in today's session but did jump on the buy back news as you see there. >>> michael kors said revenues were up 57% and net profit more than doubled as it reported results today. comparable store sales up more than 36%. shares jumping at the open but then settling back a bit. >>> mid american energy holdings is buying a nevada utility for $23.75 a share. it is valued at $5.5 billion. it provides electricity to 2.5 million customers in las vegas. >>> and we have heard a lot about the baby boomer generation's impact as they age. today's example of consolidation at the top of the funeral home and cemetery business. service corp international by stored enterprises. service corp up nearly 5% to 1844. >>> still ahead a modern family milestone. why the old saying dad is bringing home the bacon no longer is true. first a check o

. >> moody's downgraded bonds to junk status. now, they have announced a plan they hope will help it stabilize finances without having to turn to brussels. >> slovenia is teetering on the edge. it's mostly state-owned banking sector has been crippled by billions of euros worth of bad loans, but the government does not have the money to rescue them. the government needs at least 4 billion euros and has come up with a new plan. >> we need to consolidate our finances. there are three ways we can do this. we can increase revenues. we can cut back on expenditures. or we can pursue a combination of the two. what we have decided to do is take the third option. >> 15 state-owned enterprises will be sold, including the country's second-largest bank in the capital's airport. value-added tax will rise from 20% to 22%, and a new property tax will be introduced in january. the government is also in talks with trade unions to make significant cuts to the public sector. the plant is now to be sent to brussels in the hope that it will be enough

not too moody. even tempered yet mysterious. we all want a little mystery. as far as longevity in marriage, i do not have the answer to longevity in marriage. that is one i don't know. estimate i think i learned a lot about women in my life and sometimes i don't think i learned much at all. my favorite quote is from stu convenient hawkins. the man writes through his teeth. he holds it in his mouth. he is in a wheelchair, can't talk or move. one of the most brilliant men the world has ever known. i had him on my show interviewing him. he was answering my questions on his machine. this is one of the smartest men in the entire world, astrophysics, big bang theory. you name it. i ask him what puzzles you the most? his answer. women. >> don't you agree? is there anything that would puzzle you more than women? >> i think they bring a separate set as men do in relation to them, a separate set of skills, of intellect, intellectual levels. >> intimidation. >> sensitivity. you make the point here, men have no common sense. >> i have been told that. >> how do i know th

into the two-year budge and we have got more reserves than we have ever seen before and this is why moodies would reconsider the ratings for us and i want the ratings to be even better and so we have to keep a very good discipline in our outlook and fiscal compline and we have to continue what we have been doing because it is has been successful because the challenge isn't over the click is still there the sequestering has a huge threat for a number different programs that both of the of us mares are concerned about and just because the state was able to balance the budget we are always making sure that we are investing in the right thing and what is around the corner for san francisco is $4.4 million unfunded healthcare costs for the employees of san francisco and we have to make those right so that they don't come back and hurt us and so these kind of fiscal things it's not because we are lucky i think it's because we have made smart division and is we have to continue that process of making smart decisions and we have to continue creating public/private partnerships and not run the gover

moody's corporation reported quarterly profits way above expectations. and the firm raised its full year outlook, thanks to a pickup in corporate bond offerings and that means more demand for credit ratings. shares touched a six-year high before closing at $62 and change. shares of discount brokers did well today. as investors bet that companies like schwab could benefit from a surge in trading season commissions. schwab itself traded near the top of the s&p 500, gaping more than 6%. >>> and in a rare move today, shareholders of occidental petroleum voted out ray irani, who ran occidental for 20 years. shares gained more than 3%, closing at $90.76. >>> on this problems friday, a story about someone who chucked it all, quitting a good job because he wanted to create games, word games. and he has done so well making well into six figures these days, that there's a good chance you're familiar with his work. in fact, it might not be too much of a stretch to call him america's wordsmith. >> if that's the way -- if everyone agrees, everyone has to agree. okay.

moody's raised the outlook from negative to stable, that and the housing news made financials attractive state street, the big trust bank was the leader of the pack. statestreet shares rose more than 2% to 57.15. >> ford zoomed to a 52-week high today after kelly blue book predicted sales rise by 8.7% in may and ford boosted by a "barron's" report suggesting that europe's demand for new vehicles is bottoming and that forced profit is likely to accelerate as the european economy improves. it is up $15.28. that's an increase of more than 3%. net app, this is the data storage company announced it has certified cisco's new storage switches and will begin reselling them in its systems and that sent shares of both companies higher with net app leading the nasdaq 100. net app closed at 37.71 up almost 3.5% while dow component cisco rose 1 1/2% to $23.89. from tiffany, sterling quarterly results and earnings and revenues came in better than expected as business improve individual regions. tiffany reported store sales up 8% for the quarter and reaffirmed its outlook for the year. shares of tiffan