. >> i'm morley safer. >> i'm bob simon. >> i'm lara logan. >> i'm scott pelley. those stories and some thoughts on hurricane sandy tonight on "60 minutes." [ male announcer ] choosing a windows 8 device with help from your friend. i'm thinking about upgrading... finally! jonathan was fine when you were in your 20s, but he's not right for you. good-bye jonathan and his creepy little girl hands. i meant... [ male announcer ] or choosing a windows 8 device with help from the experts at staples. another way staples and hp make it easier to upgrade. make your windows 8 experience even better with hp. and this week, get $200 off the hp envy dv6 notebook. staples. that was easy. >> kroft: on tuesday, voters will elect a new congress, replacing the one that's had the lowest public approval ratings in the history of political polling. 33 seats are up for grabs in the u.s. senate, which used to be known as the world's greatest deliberative body, a place where difficult issues were carefully considered and debated until a consensus or a compromise was reached. today, it's k

plus, morley safer asks, "can america afford the lincoln penny?" well, we begin with bernanke. after the crash of '08, bernanke invoked emergency powers, and with unprecedented aggressiveness, he's thrown more than $1 trillion at the crisis. the words of any fed chairman cause fortunes to rise and fall, and so by tradition, chairmen of the fed do not do interviews. that is, until march of 2009 when ben bernanke sat down with scott pelley. >> mr. chairman, i'm gonna start with a question that everyone wants me to ask. when does this end? >> it depends a lot on the financial system. the lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis. now, we've seen some progress in the financial markets, absolutely, but until we get that stabilized and working normally, we're not gonna see recovery. >> i wonder, do you expect double-digit unemployment? >> well, it's hard to forecast exactly where we're going. unemployment is rising. job losses are still very severe. and, no doubt, the unemployment rate's gonna go higher than it

morley challenging. events and it gets down to mary shapiro as well and there are i think it starts around section one ninety two memory. and there is specifically the names her as being the recipient of complaints saying not being true to somebody in congress i believe her location say ok i'm reading oh right allegedly some juicy stuff in there so everybody's now going to go read that after a few minutes we have a few more minutes or so but that is all what they're considered thank you so much for being honest founder of mannix. all right let's wrap up with loose change first idea to major here but let me recap because i moderated a panel on navigating the post-election economy it's put on by modern economics john miles and bloomberg. l.a. area and barry ritholtz gary shilling and others were all involved but here are some highlights i got to catch from the sidelines just to give you some some great tips so i asked john malden chairman of malden economics why not go off of the fiscal cliff is deficit re

it's a matter of some history whether he knew about the experiments by michelson and morley-- you read about that-- that told that light speed was the same for all observers. it's even questionable as to whether he knew about that experiment. but the more he thought about light, the more he realized that if you did travel with light, it would look just as if you were at rest and everyone ought to see the speed of light traveling the same, regardless of their motion. and here's some of the reasoning that kind of went into that. let's look at what speed is, by definition. what is speed? see, the speed of light's the same for everyone that measures it. what's speed? it's a distance compared to time. distance through what? space. okay. so, it's really space compared to time, see? we measure it kilometers per hour, okay, meters per second, okay, space per time. and einstein realized that the reason the speed of light is constant-- in some instance perhaps maybe more space should traveling, in which you travel through, then corresponding that more time will be taken. and if something happens

it's a matter of some history whether he knew about the experiments by michelson and morley-- you read about that-- that told that light speed was the same for all observers. it's even questionable as to whether he knew about that experiment. but the more he thought about light, the more he realized that if you did travel with light, it would look just as if you were at rest and everyone ought to see the speed of light traveling the same, regardless of their motion. and here's some of the reasoning that kind of went into that. let's look at what speed is, by definition. what is speed? see, the speed of light's the same for everyone that measures it. what's speed? it's a distance compared to time. distance through what? space. okay. so, it's really space compared to time, see? we measure it kilometers per hour, okay, meters per second, okay, space per time. and einstein realized that the reason the speed of light is constant-- in some instance perhaps maybe more space should traveling, in which you travel through, then corresponding that more time will be taken. and if something happens

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. >> i'm morley safer. >> i'm bob simon. >> i'm lara logan. >> i'm scott pelley.se stories tonight on "60 minutes." [ phil ] i have a toyota camry hybrid. [ man ] tell me about that. [ phil ] katie and i talked about really committing to making a difference in the amount of gas that we use. she was using 8 to 10 tankfuls. i was using 5 tankfuls. now i use one tankful a month, and she may use about two. it drives like a sports car. it handles very well. people are a little surprised that a hybrid zipped by them the way that i do. [ male announcer ] see phil's story and more at the camry effect. camry from toyota. [ male announcer ] see phil's story and more at the camry effect. i am too young to the heat, it just rises up... you know, somebody just put you in front of a fire. can i just tell you, this does nothing to help it. poise invites you to experience a new kind of hot flash comfort. join the 2nd talk with poise. consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. to learn more, call today and request your free

i'm morley safer. thank you for watching. [ticking] [stopwatch ticking] >> america gets half its electricity from coal. the problem is, that process creates tens of millions of tons of waste loaded with toxic metals. this muck is called coal ash. never heard of it? neither had most of the people in kingston, tennessee, until a retention pool buckled, shooting a billion gallons of coal ash into the river and engulfing area homes. [ticking] >> the oilmen up there aren't digging holes in the sand and hoping for a spout. they're digging up dirt-- dirt which is saturated with oil. they're called oil sands, and if you've never heard of them, you're in for a big surprise, because the reserves are so vast that they'll help solve america's energy needs for the next century. [ticking] >> if you were waiting for the day global warming would change the world, that day is here. it's happening far from civilization's notice in a place about as remote as you can get. >> welcome to 60 minutes on cnbc. i'm steve kroft. we live on an increasin

i'm morley safer. in this edition, we follow the flow of big oil from massive, mega billion dollar oil fields in saudi arabia to the u.s. where wall street refines the oil into a mega billion dollar commodity. we begin with a look back to 2008 when the price of oil, theoretically tied to supply and demand, suddenly became untethered. storage tanks were full, yet the price skyrocketed from $69 a barrel to nearly $150 before it plummeted along with the stock market. there are lots of theories about what triggered the price rise. as steve kroft reported in 2009, many people believe it had more to do with wall street speculation than with oil companies. >> to understand what happened to the price of oil, you first have to understand the way it's traded. for years, it's been bought and sold on something called the commodities futures market. here at the new york mercantile exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a ce

i'm morley safer. in this edition, we look at the effect of three disasters: the massive 2010 gulf oil spill, the chilean mine collapse that trapped 33 miners underground for weeks, and, in 2011, the massive earthquake in japan followed by a devastating tsunami. we begin with the bp oil spill and kenneth feinberg, the lawyer who is the go-to guy for thankless jobs, america's arbiter of human suffering. we first met him when he was adjudicating the fund for the almost 3,000 victims of 9/11. in the fall of 2010, we caught up with him again. he now has what in sheer numbers may be the biggest headache of all: compensating the thousands of angry people affected by the spill. feinberg held town meetings for weeks in the gulf states, where, armed only with his reputation and a $20 billion pot of money, he called for patience and accepted all blame. >> i don't care what bp did before. no more bp. blame me. don't blame bp anymore. >> feinberg may be perceived by most americans as the fairest in the land-- if n

i'm morley safer. in this edition, we look at stories of crime, punishment, and what money can buy. first, the high-stakes world of japanese organized crime, where big dollars saved the life of an infamous gangster. then we investigate how best-selling author and philanthropist greg mortenson used some of the assets of his multimillion-dollar charity. and finally, we talk to dennis kozlowski, the former ceo who once made headlines for illegal corporate excess. we begin with the yakuza, japan's not-so-secret version of the mafia. american law enforcement keeps a close eye on the yakuza, and that includes keeping tabs on a ruthless gang leader named tadamasa goto. as lara logan reported in the fall of 2009, goto not only got into the country; he was first in line for a lifesaving liver transplant. [haunting wooden flute music] >> this is the godfather, tadamasa goto, at a rarely seen ritual of the yakuza. filmed by the mobsters for their own private viewing, the top bosses are gathered to pay homage at an ancient succession ceremony. the event's steeped in tradition. what does it mean

i'm morley safer. thanks for joining us. [ticking] >> banks were filing foreclosure lawsuits by the millions, and in the rush to collect, it appeared some financial firms were using phony legal documents to throw people out of their homes. chris pendley says he forged 4,000 bogus mortgage documents a day for major u.s. banks. and your previous experience in banking? >> none. [ticking] >> it started out as a mortgage crisis. then it slowly evolved into a credit crisis. now it's something entirely different and much more serious. >> this is a full-blown financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. >> and much of what went wrong on wall street could be traced back to something called "credit default swaps." they were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] >> it has tentacles as wide as anything i've seen. i think, next to housing, this is the single most important issue in the united states and certainly the largest

. >> i'm morley safer. >> i'm lara logan. >> i'm byron pitts. >> i'm scott pelley. those stories tonight on "60 minutes." that was me... the day i learned i had to start insulin for my type 2 diabetes. me... thinking my only option was the vial and syringe dad used. and me... discovering once-daily levemir® flexpen. flexpen® is prefilled. doesn't need refrigeration for up to 42 days. no drawing from a vial. dial the exact dose. inject by pushing a button. flexpen® is insulin delivery... my way. levemir® (insulin detemir [rdna origin] injection) is a long-acting insulin used to control high blood sugar in adults and children with diabetes and is not recommended to treat diabetic ketoacidosis. do not use levemir® if you are allergic to any of its ingredients. the most common side effect is low blood sugar, which may cause symptoms such as sweating, shakiness, confusion, and headache. severe low blood sugar can be serious and life threatening. ask your healthcare provider about alcohol use, operating machinery, or driving. other possible side effects include injection

as morley safer reported in may 2010, more and more americans who can afford to stay in their homes areply walking away. >> among them, chris deaner and his wife, dana, of sun city, arizona. west foothill drive has become a street of shattered dreams. >> amazingly, we have-- 16 out of the 44 houses on this street have foreclosed over the last year. >> and yours over here? >> mine will be number 17. >> [squeals] >> when deaner, an auditor for a local university, bought his three bedroom house in 2006 for $262,000, he thought he got a bargain. >> first-time homebuyers, we don't know, you know, houses are overvalued. we just know we need to get in before it keeps going up and up and up. >> and then... >> and then...boom. >> the balloon burst. so how much does he think he could get for that $262,000 house today? >> right now, about $142,000. >> that's a big drop. >> big drop, over 43%. >> deaner and his house were, as they say, underwater. with a mortgage of about $1/4 million on a home worth less than $150,000, he has one very expensive lemon. he says he tried to talk his bank into renegot