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that's this edition of 60 minutes on cnbc. i'm morley safer. thank you for joining us. [ticking] [ticking] >> it is the mark of the yakuza: ornate, full-body tattoos that cover the members of the japanese mob. so how did one of their most notorious godfathers get into america and jump to the front of a line for a lifesaving liver transplant? this reporter found out and says it may cost him his life. >> as he was leaving and getting in his car, he said, "that"-- you know, "that--that goddamn american jew reporter. i want to kill him." [ticking] >> greg mortenson's book three cups of tea is a publishing phenomenon that has made him a celebrity, a cult-like figure on the lecture circuit, and inspired people to give nearly $60 million to his charity, and it all began with one simple story. >> it's a beautiful story, and it's a lie. >> we wanted to talk to mortenson about that and some other things, but he didn't want to talk to 60 minutes. >> steve kroft. >> nice to meet you. >> how you doing? >> thanks. >> got five minutes for us today? >> um... [ticking] >> we wondered how

previously have said were politically impossible. >> governor christie pulls no punches when 60 minutes on cnbc returns. [ male announcer ] it's a golden opportunity to experience the ultimate expression of power... control. [ engine revs ] during the golden opportunity sales event, get great values on some of our newest models. this is the pur of perfection. [ male announcer ] while many automakers are just beginning to dabble with the idea of hybrid technology, it's already engrained in our dna. during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. [ticking] >> not all of the problems that illinois and other states are facing can be traced to the great recession, but the precipitous drop in tax revenues did expose decades of financial irresponsibility, reckless spending, unrealistic benefit packages for public employees, and the use of political gimmicks to cover up hidden deficits. it's forcing state governors and the public to confront some harsh realities. this is different, isn't it? >> it is very different. and the re

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here on cnbc. that is it for "power lunch." >>> brian sullivan, as we look at apple, up .5% on the trading session. we'll continue because street signs begins right now. plk. >>> welcome to street signs, everybody. i am brian sullivan in san francisco, outside the big and the iphone 5 and maybe more launch event. we've got a crowd here that has been with us pretty much the whole morning. it has been a big time event. there are hundreds of people inside. mandy, the event is still going. in moments i'm going to tell you what we know and maybe what we don't know and are still yet to learn. >> we are looking forward to it. >>> hello, everybody. i'm mandy drury. there is a lot happening here at hq. could drill down on how the u.s. will respond to the attack in libya and what it will mean for oil prices. >>> but first, back to brian in san francisco. it sounds like a weight watchers ad, it is thinner, lighter and supposedly will make you feel fabulous bhap do we know so far? >> you just hold it in your ha

you're idiots if you don't get that. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we look at the world of big deals on wall street and in las vegas and examine the impact of high-speed computers in both places. we begin with perhaps the most famous investor of them all, warren buffett. his fame extends far beyond wall street, his oldest son, howard, not so much. and yet he's the person warren buffett wants to succeed him as chairman of berkshire hathaway, the mega holding company that buffett built. for most of his adult life, howard has been a corn and soybean farmer in nebraska and illinois. and as lesley stahl first reported in december of 2011, howard doesn't live the high life, and he loves getting down in the dirt. >> this is the man who'll become the next chairman of the company-acquiring, investment-picking, moneymaking machine berkshire hathaway if warren buffett has his way. howard is a farmer who would rather dig up the ground and drive big machines than sit in a boardroom. were you stunned? were you surprised? >> i was surprised. >> but

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right now. >> that's ahead, when believed about this right now. >> that's ahead, when "60 minutes on cnbc" returns. [ male announcer ] it's a golden opportunity to experience the ultimate expression of power... control. [ engine revs ] during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. we asked total strangers to watch it for us. thank you so much, i appreciate it, i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money ? if your bank takes more money than a stranger, you need an ally. ally bank. no nonsense. just people sense. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ to dabble with the ide

i'd prefer to be dead. >> that's when 60 minutes on cnbc returns. ash card from capital one, sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve the most rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. >> a half-mile underground, the 33 chilean miners were starving. they talked about suicide and of eating the first man who died. although rescue efforts had begun, for 16 days, the fate of the men was unknown. then, as bob simon reports, their luck was suddenly about to change. >> they were saved by the drill. on day 17, it came punching through the ceiling. all thoughts of cannibalism and suicide disappeared into th

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. >> welcome to 60 minutes on cnbc. i'm morley safer. in this edition, we take a look at the impact of global expansion on american corporate tax loopholes, counterfeit drug trafficking, and the economic rise of brazil. we begin with the always taxing topic of taxation. companies searching out tax havens are nothing new. in the '80s and '90s, there was an exodus to bermuda and the cayman islands, where there are no taxes at all. when the government threatened to clamp down on tax dodging, many companies decided to leave the caribbean, but as lesley stahl first reported in march 2011, instead of coming back home, they went to safer havens like switzerland. >> several of these companies came to this tiny dot on the swiss map called zug, a small, quaint, medieval town. i don't think anybody's ever heard of zug in the united states. hans marti, who heads zug's economic development office, showed off the nearby snow-covered mountains. but zug's main selling point isn't a view of the alps. how low are the taxes here? >> it's something between 1

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. >> welcome to 60 minutes on cnbc. i'm bob simon. in this edition, we turn our attention to some foreign intrigue. first, a story about a mysterious computer virus that struck an iranian nuclear plant. later, the report of how american agents hunted a notorious arms dealer. and finally, an account of a chinese-american spy trying to steal u.s. military secrets for china. we begin with the story of stuxnet, a computer virus considered to be the world's first destructive cyberweapon. it was launched several years ago against an iranian nuclear facility, almost certainly with some u.s. involvement. but as steve kroft reported in march of 2012, the implications and possible consequences of this new kind of warfare are now being studied intensely. >> i do believe that the cyber threat will equal or surpass the threat from counter terrorism in the foreseeable future. >> there's a strong likelihood that the next pearl harbor that we confront could very well be a cyber attack. >> we will suffer a catastrophic cyber attack. the clock is ticki

now. >> they want to know what president obama thinks. >> yes. >> that and more, when 60 minutes on cnbc] now, that's what i call a test drive. silverado! the most dependable, longest lasting, full-size pickups on the road. so, what do you think? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado all-star edition with a total value of $8,000. hurry in before they're all gone! if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150

that's all next week on cnbc. i don't know how they walk in those shoes. >> i think we should have you try. >>> australian dollar is staying near six-week low despite data showing more than two decades of uninterrupted growth in the country. we have this report from sydney. >> reporter: economic growth in australia was still solid in the second quarter but did disappoint coming in at 0.6% quarter on quarter. household consumption, government spending staying strong in the quarter but concerns are prevalent when it comes to falling commodity prices, especially iron ore. treasurer trying to ease some of those worries today. >> we have seen some recent falls in commodity prices. of course, we know we've had a sustained higher dollar. and we know that that has weighed on some investment decisions. particularly for early stage projects. but none of these things, none of these things diminish the enormous amount of investment that has already occurred or the record $260 in the resource investment pipeline that is at an

it is a first on cnbc. n foundation crunched the numbers on 30 years worth of "i thch"i "inc"'s study of metrics over the last ten years. the greatest number of "inc." 500 firms. 385 to be exactly. followed up by salt lake city. the report finds cities like indianapolis and buffalo also in the top 20. the court's conclusion -- innovation comes from all corners of the country regardless of region and sector. but sue, i imagine some people thought that anyway. back to you. >> i think so. >>> speaking of innovation, let's go back out to san francisco with brian sullivan. brian? >> reporter: sue, thank you very much. just getting details on what we expected. the new connecter. in other words, this thing where you plug your iphone in to charge it in to your computer, whatever it might be, that is indeed changing. it is going to be much, much smaller. ostensibly to have more room for the battery. we talked about that longer battery life. we are getting a change in the connecting plug on the iphone 5. also talking

we talked to the ceo first on cnbc in our next hour of the show. let's get to those draghi comments. one day before the european central bank policy makers gathered for a key meeting a wire report says the bond buying plan being pushed by the bank's president mario draghi pledges unlimited sterilized buying. the ecb not providing comment on the report so far. meantime more signs of a slow down in china, the country's services sector grew at the slowest pace in a year in month of august according to the hsbc private sector survey. all the data points, jim, very concerning. and these comments, a lot of traders this morning are sort of dismissing them a little bit because they say two central bankers and as we all know there are so many central bankers in europe. we don't know who is saying it and why. >> this is, at the crux of what's gone wrong right now. there are two ways people are playing this market. the hedge funds are either saying, okay, look. we have to play the relief when ecb does the right thing and then there is another hope. listen, we

we'll hear from larry kudlow about it tonight, our friend, on his show at 7:00 on cnbc. but i think this is mostly an intramural argument among republicans on economics. this is not something ha is going to have a broader political ramification. the other swing voter in a place like ohio or florida or colorado might know who ben bernanke is, might have heard his name. has no idea what the fed is doing. this is a question of what is the economic effect in the near term. and if you get a bounce in the market and if there is some felt improvement in the economy, that's going to help obama. but my guess is that given how baked in to the cake negative attitudes about the economy are, how badly people are feeling, how weak the job market is, it's not likely to have much short term impact -- except in the market. that will cheer some investors but i doubt it is going to have a major political kick to it. >> john harwood, thank you very much. sue, down to you. >>> the question that everybody's talking about -- whether or not this latest round, and a very significant round, of kwa

twitter's ceo went on the offensive speaking on cnbc earlier today. hose kinds of rights to that data, we think, are important. we're going to defend our users, those rights. >> more from twitter's ceo is still to come here on the "closing bell." also ahead, a new survey shows small business owners holding back on hiring because of economic uncertainty. as consumer confidence hits a seven-month high and housing improves, we ask if they're living in a different real. >>> and later, boone pickens sits down for an interview with maria you'll only see on cnbc. they'll talk $90 oil, the fiscal cliff, and election. do not miss that coming up. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can

so this is not what a recovery looks like. >> that of course, paul ryan on cnbc. joining me, mark halperin in charlotte, and with me here at the table, "washington post" columnist, ruth marcus. welcome both. first to you, mark. the afterglow of the convention and then this jobs report showing clearly that people are discouraged, they are no longer even trying to get jobs, and we are now getting close to the final jobs numbers before people go into the voting booth. >> well, the president has survived, his popularity intact and his approval rating decent enough to have a good chance to win with unemployment numbers like these. there's good news in the number that the overall unemployment rate dropped i think from an objective point of view, this is more bad news than good news, because the main thing that needs to be done is massive numbers of jobs need to be created and this report does not reflect that. at the same time, i think the democrats had a pretty good convention and i wouldn't be surprised, i'm not predicting it but i wouldn't be surprised if the preside

we will have complete coverage right here on cnbc. ed financial is the old g mac. >> on life support. >> so their latest commercial has this leading economist sitting there and someone says you can tell me where cd rates will be in two years and he just gives one answer, he says no. and i guess they want to give issue kind of floating -- i don't know what they're trying to sell. but normally that would be the answer. but given what the fed -- you almost can say. >> it would be at the same level. >> the one thing that's staggering, you do polls, what would polls of economists say on the efficacy of another round of qe? and seeing what the efficacy is and knowing that there is some worry about -- >> he did yesterday. 60% of them don't think it will work. scl basically everyone says that. that rates are so close that that's n low that that's not theder how market expecting. >> don't you think the traders are waiting for sugar? i think it's methadone. i think they'red a digt ed addi worse. >> should we go to bob woodward? >> he's not studi

welcome back to "squawk box" here on cnbc first in business worldwide, i'm joe kernen along with beckykin, and our guest host is bethany mclean, author "the smartest guy in the room" the account of record on the fall of enron and she's a cnbc contributor and -- >> and also her doubles are here, her most recent book. >> we had seamus on last week. >> did you? >> yes, he was here for a few hours. >> did he talk about china? >> he talked about china. >> you were a reporter and you said, you know, this enron is a mess, right? that was kind of the initial tip-off, wasn't it? >> it was more he said you tell me how enron makes its money, and i had worked in banking for a couple years other than i did know how to read a financial statement. >> and you knew who he was. you're not old enough to remember baldwin united, really? >> i was not. but, you know, i'd worked on this column for "fortune" called companies to watch for a number of years where i was supposed to pick a bunch of stocks that would double and triple and quadruple in value in the next six months that i had burned for so many time

only on cnbc. >>> on the way, we asked for your tweets. l trade them with cnbc's see seemas mody when we come back. you have questions, we have the answers. seema? >> ryan james says -- i want to know and ask our "fast money" traders what do you think of mcdonald's? he points out that a higher dollar was hurting the stock but with the dollar lower now and good same-store sales last week, mcdonald's is now testing its 200-day moving average. can it break through that level? >> i think so. august comps were okay. i think the jim skinner premium is out. donald thompson's learning the ropes. piper raised their estimates. i think the stock continues to go higher. >> they kind of avoided the worst. after what mcdonald's had delivered, people are asking is mcdonald's back. >> i don't think they were ever gone. obviously there was some hiccups along the way. >> bullish on mcdonald's. paul says he took profits in jpmorgan yesterday and bought starbucks today. was that a good move? >> well, actually i like both stocks but jpmorgan has had a nice run.

mistonight's special coverage of the dnc convention, president obama's acceptance speech right here on cnbc>>> gold rallying above the $1700 level. sharon epperson has more. >> it is the first time we have seen it sell above $1700 an ounce. look at that one week chart wa waiting to hear what the ecb had to say about direction for stimulus. certainly gave it that impetus. the key will be what happens with the jobs data, and that could potentially derail the gold rally if it's a good number traders say. >> thank you, meantime, the stock market is rallying today, trying to close on a 4.5 year high. we're going to look on talking numbers here, nark newton with grey wolf execution numbers, and on the fundamental side is charles ortel. thank you for joining us today. we have been drifting for awhile here and now we have this pop, what do you think of the market right now. >> it is a short term development. today it's moving up on an expansion of volume and breadth. this trend since last year has been broeblgen ken to the upsidn consolidation as well. short-term it's a good development, i expect t

now a new day, a long initiative here on cnbc.ook at some of the bold faced names that have been in the news this week and the impact they have had. we're calling it the ego trip, and we want you to tell us which news maker this week had the biggest headline, good or bad. this week's nominees, mark zuckerberg, ben bernanke, tim cook of apple. log on to facebook.com/cnbc, and don't forget to tune in to street signs to see who you chose. sue? >> all right, ty. coming up, a new poll shows president obama holds the lead over mitt romney in three key states. but mr. obama continues to the ba well wall street. is the street funneling more money to his rival mitt romney? we'll talk about that when power lunch comes back. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trad

. >>> this is one of my favorite segments of the day. cnbcs for our interactive ego trip poll. e want you to vote on who you think had the biggest ego trip of the week. the real referees returning to the game, the bacon lovers who will see a shortage, or blackberry devotees with a new blackberry 10 operating system? the big reveal comes out on street signs today. >> you had me at bacon. you're not voting for the refs? >> they are tipping their hats to the stadium. that's there. it's come and gone. >> because people normally hate the refs. this is the only time in history. >> one and done. that's a blind date. >> you look like a bacon man to me. >> you should know. you would know about the nfl because you're busy at the operas with sub titles. don't even profane knowledge of the nfl. ask her. >> i have seen some games. i saw the blackbirds play the patriots. >> i think it's definitely the ref es. i agree with the guys completely. the bacon thing has been beaten to death. blackberry is done e. definitely the refs. >> all right. that was fun. tu

"squawk box" on cnbc, and on twitter. [ male announcer ] at scottrade, you won't just find us online,ind us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> welcome back, everybody. with the presidential election, rising tensions in the middle east and the fed announcing more quantitative easing gives us a lot to talk about. joining us on the "squawk" u.s. in line is donald trump, chairman and president of the trump organization. by the way our guest host today is richard fisher, the president of the dallas fed, and donald -- >> by the way i really respect what richard is saying. >> excellent. that's where i wanted to start since he's our guest host today. i heard you on "closing bell" with maria, saying this is good for the stock market but maybe not good for every

men'swear, david faber's special called out today on cnbc about men men's wear on cnbc about his much-noticed comment. the special was much noticed we he will. >> we elicited that comment. >> very interesting on the comment about the men's only store, a store in part started by j. crew, hurearst does own 2 of espn. >> let's go to bob pisani. >> dow is up 144 points, but we were up before the draghi press conference. we've been steady really since the draghi press conference in terms of the future, and those who didn't get the details. well, not far from what we were talking about yesterday. no limits on the size of the bond-buying program. fully sterilized. purchases will be terminated if there is non-compliance with the terms, and that includes the conditionality. there will be bond purchases of maturities one to three years and purchases of the country bonds will be published monthly. a new piece of information, a very valuable one, but now we'll be able to keep score in a much better way than we did under the greek program. conditions of the bond-buying program. adherence to the commitment

on who won today's jobs report they give that answer a yes to romney and the gop. joining me now is "newsweek" columnist and cnbc contributor zachary carabell, amy stoddard and chip salgtzman. on the numbers you heard the president say before he took office 800,000 jobs a month were lost. governor romney said this is a national tragedy. what do people need toon about this? >> yes, it's better than it was in december of 2008, january, february, march of 2009 where you were losing hundreds of thousands of jobs. so 96,000 is a plus, as a whole is lot better than 700,000 negative. i'm not sure the question anyone is going into a voting booth because job creation is poor and not terrible, therefore i feel good about the economy. when we look at those numbers, there's a huge portion of the unemployment rate going down not because so many jobs were added but so many said this is a terrible job market, and i'm not even going to look. >> what does that mean when they categorize someone no longer looking? what does that mean? >> it's more than eight weeks. you have to be looking for a job to be counted unemployed. p if yo

>> once i became master of of the market on cnbc, everything i said started to be incorrect. that, i was perfectly wine. >> if you wait long enough, you might be correct. are there fundamental underpinnings or is it based on -- is this anything more than a dislocation? >> i don't see this too often. that's a great question. >> you know what -- >> let's go to commercial now. >> if i want to, we will. thanks more began stagan >> if i want to, we will. thanks more began staga stanley >> in honesty, it's been more about policy and positioning. if you look at most of the economic data outside of housing, manufacturing data, job, industrial production, they've been softer. and a number of big bellwether companies that have been down the last few weeks. transportation and tech. so the earnings estimates have come back. we thought earnings would be disappointing and the two things that seem to matter for the multiple you pay are low growth, a 0% earnings growth in the s&p second quarter, analysts think it will be down 2% in the third. and extreme rates. we had the most extreme ten ye

you're watching the "closing bell" on cnbc. [ male announcer ] the markets keep moving. the news keeps coming with thinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account. plus get up to $600 i'm bara ck o bama and i approve to $600 romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side? oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always goo

it is only on cnbc on monday. sue? >>> ty, we are watching apple as you know. the iphone 5 rolling out worldwide today to 22 more countries. apple is down 1.33% at $671 and change. it comes as ceo tim cook issues a very rare apology over the iphone 5's map app fiasco. i checked with reporters in silicon valley with the fallout. john. >> sue, those apologies getting more and more common. it's not a man who's afraid to say i'm sorry. a lot of focus today on that apology. what investors should really be thinking is what comes next. the fundamental issue here is this is not a problem that good hardware design or smart software can fix. map making is grunt work. someone has to go in and find problems and in some cases update things by hand to make sure they look right. tim cook's apology this morning gave little detail about how exactly apple's going to tackle that. i know people close to apple there are three major approaches. updates from third parties. direct and passive data that apple gets from your phone telling them things like hey this isn't a one-way street

even at town halls like this one on cnbc. >> i'm one of your middle class americans.e frankly, i'm exhausted. i'm exhausted of defending you. are you okay, babe? i'm fine. ♪ ♪ ♪ with a subaru you can always find a way. announcer: love. it's what makes a subaru, a subaru. [ male announcer ] did you know that mach3 can last two times longer than a disposable? ♪ mach3 has high definition blades coated with 4 strengthening layers to help its blades stay sharp, so it can last two times longer than a disposable. get an incredibly close shave day after day. switch to gillette mach3. better shave, great value. guaranteed. gillette, the best a man can get. gillette, [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. >>> we're done. >> president obama had won a hard-fought victory on health care, but the country was still hurting. >> some economists are predict

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"squawk box" on cnbc and on twitter. bob... oh, hey alex.t picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. >>> in addition to the fed, investors will watch the latest developments out of europe this week. joining us is jim o'neill, chairman of goldman sachs asset management. i think about you, jim, and you had a long-term perspective i would describe as sanguine and we've had, if you tack it all one way or the other, we bring you on and say oh you've changed, but all in all you've been sanguine and sanguineisity was the place to be. >> maybe i should retire gracefully now. >> that wouldn't work for us

that's next on cnbc. ♪ >>> about one hour into the trading day, here are the stories we're squawkingew all-time highs earlier in today's session. apple now moving to the downside and amazon is struggling to hold on to its gains. the s&p 500 consumer discretionary sector trading at a new record high for a third consecutive session. and copper rising to four-month highs on hopes both the fed and china's central bank will implement additional stimulus measures. >>> this morning's "the wall street journal" has an assessment of where we are in the markets, that investors are behaving as if more economic stimulus from the central bank is a done deal come thursday. is that true? and if it's not true, what will the implications be for the market? joining us here on set is jeff saut, dan greenhouse joins us from btig, and drew mattus joins us. drew, are we set up for a disappointment here? >> i don't think so. i think every time the markets push the fed, the fed delivers. market's clearly pushing the fed this time. i expect the fed will deliver. that being said, we'll be disappointed with wha

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on wall street. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo today at cnbc world headquarters. a late day slide on wall street with the s&p 500 breaking below the key technical level of 1450. the s&p and nasdaq having their worst days in months. protests in spain today demanding parliament be dissolved and elections be held. we'll bring you the details on the ground in madrid coming up. meanwhile, the market closing at the lows of the day. things intensifying at the end of the day amidst what's happening in spain as well as the week that we are ending, the third quarter. expectations that earnings are coming in after caterpillar warns and fedex a couple weeks ago. liz saunders says she's beginning to see things in this market that can be a good thing. she joins us now along with janua own rick santelli. what would you attribute this end of day selling to today? >> i think on some technical measures, the market certainly is a bit overbought. we've been saying we wouldn't be surprised to sew ed td to see al back. i think it shows maybe there were itchy traders looking to take some

because what i'm hearing from ceos and i am able to speak to business managers and ceos all the long on cnbc and certainly on my program in the afternoon from 3:00 to 5:00 in the afternoon in but they tell me is that oftentimes they are asked to visit the white house. for example when the president was selling his health care package, he invited a number of the health care ceos to the white house. under the idea that he wanted to get their input and he wanted to hear what was going on in health care and how the legislation should change or alter to adapt to the issues he was going to hear from them but what i heard from virtually every single health care ceo that went there is that the arrived, they did a photo op and they took some pictures. the president spoke to them you know, gave a speech basically and then left. and so what i'm hearing increasingly is that you know he is not necessarily listening to the executives that executive to go to this office and regardless of whether or not they come there and explain their so-called plight or what they would like to see in order to actually pu

health care, more jobs and homes were lost, and frustration mounted, even at town halls like this one on cnbc'm one of your middle class americans, and, quite frankly, i'm exhausted. i'm exhausted of defending you. try zyrtec® liquid gels. nothing starts working faster than zyrtec® at relieving your allergy symptoms for 24 hours. zyrtec®. love the air. try capzasin-hp. it penetrates deep to block pain signals for hours of relief. capzasin-hp. take the pain out of arthritis. >>> we're done. >> president obama had won a hard-fought victory on health care, but the country was still hurting. >> some economists are predicting that the unemployment rate could go higher. >> this is the first time ever that repossessions have topped 100,000 in a single month. >> as i've said from the start, there's no quick fix to the worst recession we've experienced since the great depression. >> by the summer of his second year in office, even some supporters seemed to be losing patience like velma hart at this cnbc town hall. >> and i'm one of your middle class americans, and, quite frankly, i'm exhausted. i'm ex

i want to bring in exclusively on cnbc, brettoria, ceo of the nets. thanks for come on.uys in the studio might have some questions, too. this has been a long time coming. you're coming into a hugely competitive city with the most famous arena in the world some say and huge following with the knicks. how is this team going to carve out its niche? >> the brooklyn factor gives us our own niche and it has taken us longer to get here than anticipated. we've built up an incredible amount of anticipation for today, people are buying season tickets, we're closing in on 11,000, which would be an all-time high for this franchise. we're not concerned about the other players in the market. we're concerned about bringing brooklyn the best sports and entertainment. >> reporter: jay-z owns 1/15 of 1% of the team but yet he's all over the place. i think everyone asks me, how does that work, that relationship, does he walk in and say that's what i want, that's what i want. how does that work? >> it's a great working relationship, jay and i collaborate on a lot of different things. he's o

how do you think i was on cnbc in 2505 and 2006 worrying about it?nd when everybody else was calling for a recovery in 2009 and 2010, i said it wasn't real. i said we will be back in recession and we will be. >> let me just respond by saying if it's not real, it's the best fake 100% rally in stocks i've seen. >> and the economy is growing 2% where it would have been down 9%, 10%. >> you guys are talking about two different things. >> i'm not talking about the stock market. the stock market is not the economy. qe is good for the stock market because it's inflation. it's not about liabilities. >> that's what's happening. that's why stock res going up. but if you measure stocks in gold, they're not going up. they're going down as you look at them in real money. >> first of all, gold isn't necessarily real money. there are all kinds of real money. >> no, there's not. >> yeah, there are. if you look at history, we'll see everything from seashells to salt, paper being real money. >> that's money. >> but paper is not money. paper is a money substitute. >> w

we'll see you back here next friday at 5:00 eastern here on cnbc. n motion" is up right after this break. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account.

eastern only on cnbc. ♪ [ male announcer ] introducing a stunning work of technology.ntirely new lexus es. and the first-ever es hybrid. this is of perfection. >>> no day of atonement show can be complete without a chest beating. since there's still so much to learn every day in this game. let's get to it. how about believing some executives can do no wrong. isn't that what i committed by endlessly praising jamie dimon only to find out now only is he mortal, but arrogant to boot, which is a take away, pointing out some rogue trader in his london office was about to wipe out $18 billion in market cap. remember dimon wants to seek redemption like i do, say no when it comes time to your bonus. for the sin of believing a ceo can be powerful enough to override an entire apple-driven product cycle, that's what i believe when cypress semi was a buy. one unbelievably good steve jobs biography, i would have told you how wrong that was. what else? how about for the sin of not forgiving cirrus logic for a miss right before one of the greatest runs i've ever seen. the sound compon