billion dollar negative bets on these countries and there's you know to make billions of dollars the moody's s. and p. and fitch are in bed with these people they downgrade the debt and they're all working together they're all working as a team it's collusion it's a racket it's a racketeering so you know the banks will continue to rape and pillage economic straus god who performs financial rape as daily just that's what he it wasn't for financial rape we'd never have atomics trust god if you look at financial rape in the dictionary you'll see a picture of damage trust her that's that's what he was born to do he was groomed to be a financial rapist he's brilliant at it and so is lloyd blankfein so's jamie diamond and so soc gen and some of these other bankers who's going to stop or who's going to stop and write what is the odds of that who will stop them is the laura soft touch what are the international regulations you're getting very passionate about this aren't your own question who could actually stop them doing what you say they're doing i believe it was recently said when the social contr

moody's says it, s&p says it. the u.s. is running out of time to address its fiscal problems.t the same time, economists are saying, don't repeat 1937, don't make a mistake and pull back too quickly on the money that's flooding through the system that could cause another legdown in the u.s. economy. we're talking about a fine line policymakers have to walk. the people who are making these decisions are not good financial managers. >> peter, i'll let you defend yourself. >> quite simply, the greeks are having the shots called by the germans because the germans are their principal creditors. if the u.s. starts to lose its bond rating and borrowing costs go up, we might not be able to run the kinds of deficits we are now. and in the process of trying to restructure our debt, it's the chinese who are the logical people to make demands because they hold the most u.s. bonds. >> peter, good to see you as always. professor of the yuft of business at the university of maryland school of business. and christine romans, you can watch her on "your bottom line." >>> don't let europe's debt

the credit rating agencies moody's and s&p have warned that they may place the u.s. government's aaa debt rating, bond rating under review for a possible downgrade within months. bill gross, the head of pimco, the largest bond fund in the world with hundreds of billions of dollars invested, has ceased buying u.s. government treasuries. none of that is in his portfolio. he says recently what we are doing with our economy, with the fed, with its quantitative easing, the government with its worthless stimulus package that this congress passed that's done really nothing, he called it a sugar high. not real. a temporary surge that has not changed the circumstances we're in. he's a man who deals every day with investments, and he has ceased to invest in the united states treasury. yet the nation has operated without a budget, without a budget now for 785 days. the democrat-led senate, even when they had a 60-vote majority last year, perhaps the biggest majority in maybe my lifetime. i can't remember a party having 60 votes in the senate, when that last occurred, but you ca

we're seeing moody's and s&p go out there and do the downgradings.the congress man is going through the kind of show bet. th boat. that's why i thinking the group of five or six that we've been working on for months and months, we've got to get out there. >> it's like the hurricane that's been coming to the shore. there's defer station. so what do you guys do to move it forward. >> what do you do in the gauge of five or six? >> i was disappointed about two weeks ago when senator coburn decided to take a break from the group. i thought the final final remaining differences were small. we had 54 senators a couple weeks ago that sent us an attaboy letter. we're going to talk to some hoff those additional senators to try to move this from a gang to a horde or a mob to say here's plan that would oop try to knock off $4 million. it wouldput us on the right trajectory. probably there will be parts of it everybody will dislike. how do you go after some of those entitlement programs. >> republicans riaren't going d that. they're going to say rng we're not goi

s&p asx 200 up .0.75 after monday. >>> shares of toyota motor held steady tuesday despite moody's downgrading to aa3 from aa2. falling production in sales at toyota could cause it to lose its status as the world's number one carmaker. we'll have more on that later. >>> in another story getting a lot of attention in asia, the china yurun food group. the share price sank 5% tuesday after falling almost 20% in monday trading. it is linked to rumors of report by an outfit called muddy waters research. as its name suggests muddy waters looks for transparency in the sometimes murky world of chinese business. i thought it was a singer but right now across the atlantic a mixed bag on the u.s. futures, major indices are up slightly for the dow and nasdaq composite, down slightly for the s&p 500. in greece workers have begun a two-day general strike as they fight to block a fresh round of austerity measures, live from greece, those measures are a condition for any loan from the imf and eu. funds executive board is meeting in washington and the selection of a new managing director is likely to be top of the agenda and t

s extranas. "super 8" es clasificada pg 13 y se estrena apartir de hoy. ahora para los niÑos le tengo una pelicula que les va a encantar.. "judy moodyra judy y su hermano stink cuando le dan la noticia de que no iran a un campamente de verano y se tienen que quedar en casa con su tia opal mientras sus papas se van de viaje...sera un verano lleno de sorpresas que divertiran a ti y a tus papas tambien...judy moody and the not boomer summer es clasificada pg.. que las disfrutes..yo soy nancy leal y esto fue acceso total nat sound cesar ---el movimiento de sus caderas es unico... pero ahora tal parece que el baile que shakira realiza en su ultimo video "rabiosa" esta en el centro de la polemica... ---todo por que dicen que se parece a los pasos de baile de otra cantante famosa... blanca ---asi es... hablamos de kate moss quien aparece bailando en una barra vertical...similar al que utiliza shakira... ---algunos medios de prensa colombianos aseguran que se estaria hablando de plagio...aunqu e no especificaron si esto llegaria a los tribunales. cu / cesar y blanca hoy a las 11 ---que tendremos para esta noche... ---que tendremos para esta

moody's downgraded greece's bond rating deeper into junk status. >> susie: tom, the latest read the dow fell 279 points, the nasdaq was off 66 and the s&p 500 down 30-- all of the major averages off over 2%. what spooked investors at the opening bell, a dismal report on jobs. adp, the big private payroll processor said the private sector added just 38,000 new jobs in may, that's way below the 190 thousand most economists were expecting. still oppenheimer thinks hiring will pick up later this year. >> our expectation is businesses will continue to invest in labor and capital, and that'll support economic activity in the second half of the year. it's not going to be strong. we're not heading into another recession, but breakout growth still remains out of reach. >> susie: joining us now for more analysis of today's market action, david kelly, chief market strategist for j.p. morgan funds. hi, david. >> hi. >> susie: so the big question for many investors today was that, is the u.s. economy heading for another recession. what do you think? >> no, i don't think so. it is clearly slowing down, i mean these were very bad vehicle sales numbers. we got

you about throughout the course of the show, moody's downgrading greek debt by three notches to caa-1 pushing it further into junk territory. the nasdaq and s&p each lost about 2.3%. the bleak figures has sparked some bargain hunting. futures are looking up at the moment. this is how we stand in terms of the pre-market action. modest gains, but modest the operative word. you can seat nasdaq poised to open the day for the moment up by 0.10%. a weak start for the other two movements. >> i guess it's a relief just to see green arrows upcoming. the signs had been rather bright for the u.s. employment picture, which was due out on friday. economists were expecting at least 170,000 new private sector jobs to have been created in the past month. on wednesday, some of that optimism was extinguished by the payroll firm adp. its report suggested a total boost of 38,000 in private sector, less than a quarter of the predicted figure. fears of a slowdown in the u.s. recovery focusing on the end of q qe2, the bond bonanza. that was due to finish at the end of this month, but the slump may have arriveded earlier than expected. andrew sullivan has more on

guest: just yesterday, moody's said it might downgrade the u.s.'s credit rating if congress does not raise the debt ceiling. when interest rates are low, it makes it easy for consumers to borrow, to pay for college education, invest in their businesses and even hire people. if the credit rating goes down, interest rates will go up because creditors will demand a higher return on their money for an increased risk of default. it is a quite small risk of default, but any risk makes people nervous. host: thank you very much. we are going to move to listening to the c-span audience all around the country. after all, we need to understand how this is affecting folks living outside of washington d.c. and thank you very much for setting the stage for the conversation. peter coy of "bloomberg business week." our question is the state of the economy and whether it has caused you to make changes in decisions in your lifestyle. let's go to annapolis, judy, a democrat. caller: i would like to say that i have been employed during the entire downturn of the econom

moody downgrade greece's credit rating, nailing the market. same this morning. dow down by 45, nasdaq down 1. the sby 4 points. >> that forecast is a lot lik -- that forecast is a lot like our weather. >> not very good. >> thank you, jason brooks with kcbs and cbsmoneywatch.com. >>> well, the weekend is almost here. and time to start making those weekend plans. >> we shall. liam mayclem is here from "eye on the bay" and you have some great ideas. you're very excited about this, aren't you. >> i am. i'm bringing sunshine this morning because, ladies and gentlemen, at last, armstead's brilliant love letter to san francisco tales of the city, has been adapted for the stage and is enjoying a world premier run at the american conservatory theater on geary street. details first written for the "chronicle" 35 years ago center around 1970s san francisco and the residents of 28 barberry lane. this musical i have to say it delivers on every front. a $2million budget and it shows. the music and lyrics make you want to swing your polyester pants from beginning to end. [ laughter ] >> you have those, don't you,

moodies. >>> checking on the markets this morning. futures for the dow, nasdaq and sell this morning. >>> coming up next, punches are thrown outside the courthouse where casey anthony is on trial for murder. back after this break. yep. the longer you stay with us, the more you save. and when you switch from another company to us, we even reward you for the time you spent there. genius. yeah, genius. you guys must have your own loyalty program, right? well, we have something. show her, tom. huh? you should see november! oh, yeah? giving you more. now that's progressive. call or click today. 8% every 10 years.age 40, we can start losing muscle -- wow. wow. but you can help fight muscle loss with exercise and ensure muscle health. i've got revigor. what's revigor? it's the amino acid metabolite, hmb to help rebuild muscle and strength naturally lost over time. [ female announcer ] ensure muscle health has revigor and protein to help protect, preserve, and promote muscle health. keeps you from getting soft. [ major nutrition ] ensure. nutrition in charge! has twice the ca

this floor, two more rating agencies, moody's and fitch, have issued serious warnings that it may downgrade america's ratings, aaa debt ratings. this comes after s&p already lowered its outlook of the u.s. economy to negative. and just last week on the cover of "usa today" was the frightening headline, the united states owes $62 trillion of unfunded obligations amounting to $534,000 per household. those are unfunded obligations. we have funded obligations that we currently owe in addition to that, and some put that even higher. there was an interview yesterday by bill gross who heads up pimco, the largest holder of bonds, largest bond fund in the country -- in the world, actually. bill gross told in this interview, indicated that the money owed to cover future liabilities in entitlement programs in the united states is actually in worse financial shape than greece and other debt-laden european countries. much of the public, of course, is focused on our public debt which are running running $14.3 trillion, but what hasn't been focused on as much is the unfunded liabilities that will come due, the obligations and promises already made that will ha

s&p says our country has large budget deficits and rising government indebtedness and the path to addressing these is not clear. furthermore, just last week, another credit rating agency, moody's, if we needed another reminder warned that our failure to cut the deficit could prompt them to downgrade their outlook on our aaa rating to negative. without a credible agreement on substantial deficit reduction -- this is moody's talking -- this could happen as soon as next month. this would have a devastating impact upon our already struggling economy. reducing our nation's debt will require us to work together to craft a serious plan. president obama's proposal to balance budgets in part by raising taxes on business in my view would only make our economic circumstances worse. washington does not have a revenue problem. it has a spending problem. it is time for us to work together and pass a responsible budget to reduce our deficits this year, next year and far into the future. the plan should include significant spending reductions, a balanced budget amendment to restrict washington's future ability to borrow money that would put us right back in the mess that we're in today and on