i'm talking about the ordina eryday scummy stuff that happens when trusting peop give other pple their money. this year, there's bn a huge increase ithe number of securitiesisputes or arbitrations filed. after talking dozens of vestment fraud victims, i ha come up with aouple of reasons y fraud is on the rise. the obvious one is greed, t really its greed cbined with a willingns not to look too hard. if mt of your friends and neighbors are getting a 5% a someone offers you 10%, the greedy take it. and th don't look back. the frauvictims i've met didn check things out. the noso-obvious reason is low interest rates a poor stock market returns. ink about it. seniors, who want thsafest investnts or c.d.s, aren't getting much on their mone becae rates are near the bottom andow-risk investments produce low returns. you stt pounding that kind of peon with a slick sales pitch, and voila,ou've got the next fraud victim. the search shows that seniors are targeted by scams morehan any other grou i think the frd numbers will go back down again, when the markets cover, when interest rates rise and w

very potent kind of explosivthat's sort of a favorite of terroris around the world th can be made of ordinachemicals that he got at lst three other pple in the denver area o help im go around to all of all things bety supply stores because they sell the kindof chemicals thatare the precurors. havi gotten them all togetr, he was ting to figu out how to make the formul work. he got a hotel oom with a sove in it. heas heating the chemicals to conctrate them. hes urgently, just before he went to new york two wks ago, e-mailing, apprently, his professor to try to gure out why isn't this working, at am doing wrong. and then after that, for a reason at i don't think they don't derstand, he rented a car, drove to new york, and of course, that's when it all cme apart. gwen: is hit? is he the center of t cell ey think they have found or are there othepeople still ou ere? >> the feeling out ther he is it. everytng seems to revolve around him. hes the one that hey saywent to al qaedalthough they subjected in vernment papers this week thaterhaps others went with him. but in terms of being in contac with

interest and have managed to get the tax authorities to tax at the capitol gains at 15% rather than ordina income rate the 14%, that's a peer boondoggle. that's the look and feel of ordinary ince, i think it is. it aught to be taxed at the same rate of ordinary incom >> which is 35%. >> it's going to 39% as soon as the bush tax cuts expire at the end of 2010. >> okay. here's another two-part question. how come people operate contrary to their spending capacity leading to large amount of debts? is this american? and the second part, what is the most common misconception tha people have when to spend versus when to save? >> it was quite easy t take on more debt because of the chang in the financial industry under ich the people who once loan you money a held on to your loans had a real interest in making sure that you are going to pay the loan back. that gradually gaveay to a differentet when banks would initiate loans, and then bundle them into a mortgage-backed security and sel it to someone else. th if someone defaulted, that was their problem. they got their commission, the transaction w

hear voices out, not hear through some other means or interpreted by us is a victory for order -- ordina life and perception of ordinary way is far more democratic than most literal ture. >> well-put. more questions? >> harvey and paul y've guys don three books in last couple years. including the sds book. i'm wondering what you are working on now? other than, being at events like this? >> he wishes me to speak. ydah. which is very curious since i'm theditor and the real speaker. we've been starting work on a book called, yiddish land. and, i'm a gentile from down state illinois and i just stumbled into yiddish oral history. i interviewed octgenarians and native yiddish speakers and they adopted me as a grandchild and i was eager to adopt them as grandparents and i fell into yiddish poetry and so forth. for harvey, his first language was yiddish. so what is the story that 800 qears? that, is not entirely gon but which has enormous richness and also had a huge impact on american popular culture, this is rarely recognize. that is number one. number two, harvey has been writing autazz for c

ral property owners filed suit, and state appeals court has stru down part of sim critical areas ordinae w before the state supreme court. >> if the supreme court uplds the court of aeals' decision, it'll be thebandonment of everythinghat this state has voted on consisteny, which is they want envinmental prottion here. smith: while the legal dram plays out, the lesn for ron sims is unmistakable. >> we will never recov puget sounif we don't get a hold of e storm water. i never imagined that at body of water would just fundamentally unhealthy for whales and for salmoand all the thgs that make it a rich, wonderful enronment. we may, in the nt couple of decades, when i'm years old, if we don't do anying, people will s, "you... your generation, you lostt. you weren't willing to step and save i" >> smith: back on e east coast,ear chesapeake bay, the problems of velopment sprawl th king county is fighting ha played out in the suburbs of washington,c. already 17illion people live in the chesapee bay watershed. in recent year 10,000 more moved in everyonth. and evermonth, 3,000 acres of forest we