by now we have new york cit that is a hot market. real estate has really turned around. i, washington the week, the lack of inventory. as the impact of slowing things down. what this does is accounts for a 60% increase in long-term capital gains tax rates. what that does i commercial office buildings, comercial property buildings. >> absolutely. you are you're thinkg about the price we have to pay to make up for tha. >> even if you get a big bump in sales prices, sales prices are up in real-time price increases. all th is taken away. >> do people know about this? the capital gains in all of this? >> a lot of people don't know about it. the commercial market understands it and knnws about it because they're more sophisticated about what is going on here. >> would you guys do around the? you just hold off on asset sales? >> you wait until prices are increasing or you refinance. and you don't selloff this building. >> we waiting for? >> well, you can take cash out without having to pay taxes. >> summer hoping we don't knoww where we will get the money. real risk fiscal refor

---la carta cit los beneficios econmicos en caso de aprobarse una ley de inmigracin que ayudara a reducir el dficit. blanca ---precisamente hoy, el diario "the new york reforma empeorara el proceso de deportacin en estados unidos. cesar ---asi es, y cit como ejemplo la expansin de un polemico programa llamado "operacin streamline" ---gabriel huerta nos dice de que se trata.. 0:01 0:22 blanca ---la corte suprema de justicia esta por definir varias legislaciones a nivel estatal. take vo ---la primera decision tiene que ver con la propuesta 8 de california que define al matrimonio como la union entre un hombre y una mujer. ---tambien la llamada "ley del matrimonio" por la cual ningn estado est obligado a reconocer como vlida una relacin entre personas del mismo sexo. ---tambien analizan un punto sobre la accion afirmativa y ademas una legislacion sobre la patentacion de genes. cesar ---una de las cadenas de tienas mas grandes del mundo, tendra que pagar una severa multa por tirar desechos toxicos... take vo ---la empresa walmart fue obligada hoy a pagar 81 millones de dolares por un tribunal federal de san francisco... ---la compaÑia enfrentaba varios c

. >> cit announcing the termination of a written agreement by the federal government bank of new yorkt had been in place since august 2009. investors have been waiting for c.i.t. to operate without the fed's close watch. that's the reason we see shares spike today. this will likely allow c.i.t. to have more discretion on how much capital it returns to shareholde shareholders. >> we want to bring your attention to another headline. carl icahn is out saying he does not own a single share of peabody energy. there was some speculation he may have. if you take a look, probably that's the reason that the chart looks the way it does. the shares perhaps running up on that rumor. that carl icahn had taken a position in peabody. and you can see the subject himself as we're delivering you that news. >> it's really limited impact that you have. they don't control their own fate. it's going the other way now. >> coming up, the next big thing. bank of america steve suttmeier tells us which sector he thinks is ready to pop. is the stock poised to break down? we're going to give you the trade next. [

new york. he's a former colleague of yours from congress. is he the guy qualified to run the largest cit in the country? >> well, you know, we have a lot of great candidates in that race and i'm staying out of the primary. but i expect the voters of new york to make that decision about what's best for them. >> i'll let that be the answer on that one. senator, thanks so much. thanks for your time this morning. >> thank you. >> thanks. >>> the first funeral will be held today for one of the victims of monday's devastating tornado in moore, oklahoma. in moore this morning with the latest recovery efforts. good morning. >> reporter: good morning to you. moore just can't seem to catch a break. we're the middle of thunderstorms here right now and conditions like this are expected to last much of the day. it comes as some residents for the first time were getting into their homes to try to salvage what they could. >> there's tons of debris. >> reporter: new video is a jaw-dropping look at the tornado's power. >> it's going to knock those poles down. >> reporter: as the cleanup continues in moor

and cit, gaining ground after it announced the termination of a written agreement by the federal reserve bank of new yorkas been operating under since 2009. this will free the company to start returning capital to shareholders. and lastly, here's a mover to the downside. take a look at big lots, shares getting hit. the discount retailer's forecast for the current quarter and full year came in short of street expectations. stocks down about 9.5%. bill and maria, back to you. >> seema, thank you so much. the bias is to the downside here. >> it's a billion. >> to the sell side. we're seeing that in the markets right now. the dow really losing steam here quickly. >> we were negative on the open this morning, but this is about the lowest of the afternoon here, with a gain of just 39 points. >> we are certainly giving it up going into the close here with just ten minutes before the close. that bond collapse we keep hearing about, well, maybe not. a strong treasury sale today. charles schwab's kathy jones will talk to us about that next. stay with us. n: how old is the oldest person you've known? we gave people

new cit, announcing that it will repurchase up to $200 million of common stock. this coming in after it announced earlier today the termination of a written agreement by the federal reserve bank of new york, that it had been operating under since 2009. the stock up after-hours. back to you. >> thank you so much. japan's nikkei average, meanwhile, selling off more than 5% overnight, worries about the long-term viability of japan's version of the federal reserve's economic stimulus plan. should we worry that the air could come out of this market just as fast? i'm joined right now by our very own steve liesman, rick santelli, and greg ip from the economist. steve, kick us off on this discussion. what is japan doing that is similar or different from what bernanke is doing? >> well, what's happening, maria, quite a bit of difference and similarities. they're both buying a lot of assets. but when we look at the target of the program, the amount of the program, and other aspects of it, we see quite a bit of differences. here's the difference in the targets. the fed targeting unemployment, the bank of japan targeting deflation. the amount, the fed is doing $85 billion a month, translate that int