patricia sabga is on the streets of new york.e'll take you to her as soon as we come back. >> a dirty deal. struck at the heart of government. >> egypt mismanaged its gas industry. >> taking the country to the brink of economic ruin. >> it's obvious that egypt was being ripped off. it's basically saying to the israelis, "look if you want to screw us, here's a tool you can use to screw us". >> al jazeera exposes those who made a fortune betraying an entire nation. >> you don't feel that you owe an explanation to the egyptian people? >> no... no... >> al jazeera investigates. egypt's lost power. december 17th. >> these people have decided that today they will be arrested >> i know that i'm being surveilled >> people are not getting the care that they need >> this is a crime against humanity >> hands up! >> don't shoot! >> hands up! >> don't shoot! >> what do we want? justice! >> when do we want it? >> now! >> they are running towards base... >>...explosions going off we're not quite sure... >> fault lines al jazeera america's emmy

patricia sabga is on the streets of new york.e'll take you to her as soon as we come back. >> a dirty deal. struck at the heart of government. >> egypt mismanaged its gas industry. >> taking the country to the brink of economic ruin. >> it's obvious that egypt was being ripped off. it's basically saying to the israelis, "look if you want to screw us, here's a tool you can use to screw us". >> al jazeera exposes those who made a fortune betraying an entire nation. >> you don't feel that you owe an explanation to the egyptian people? >> no... no... >> al jazeera investigates. egypt's lost power. december 17th. ♪ >>> live pictures from washington, d.c. of protests continuing now for the second night in a row, after yesterday's decision not to indict. the police officer shown on that video, leading to the choking death of eric garner in staten island. i want to go now to the streets of new york city. patricia sabga is live in lower manhattan, where she has been reporting on these protests for the course of the afternoon. are? >> repo

patricia sabga is on the streets of new york.e'll take you to her as soon as we come back. ♪ >>> live pictures from washington, d.c. of protests continuing now for the second night in a row, after yesterday's decision not to indict. the police officer shown on that video, leading to the choking death of eric garner in staten island. i want to go now to the streets of new york city. patricia sabga is live in lower manhattan, where she has been reporting on these protests for the course of the afternoon. patty what is going on where you are? >> reporter: well, right now, ali this crowd is on the move. but just to give you a sense of how strong this protest was. it took about 30 to 40 minutes for the protesters to empty out from the square behind me. they were on the move. a large group of them split off, and they were headed towards one police plaza. another group split off in another direction. whether they are headed for the brooklyn bridge, i can't tell you right now. let me give you an idea, though, of the diversity of this cro

patricia sabga, al jazeera. >> for more on the nominee, we turn to jamie mcintyre, good to see you.t are your thoughts on this? >> you know ash carter will face a lot of issues. combating i.s.i.l. in both iraq and syria but these financial problems are a big deal. the pentagon is chafing under sequestration. ash carter spent his time as trying to cut the pentagon budget especially for modernization and weapons procuring. the pentagon still is going to say it needs more money and that its readiness are affected if the sequestration effects are not lifted. something chuck hagel wasn't able to do, penetrate the inner circle. i'm reminded of the case of william perry who was elevated to defense secretary when the others fell aside and ash carter is a protege of perry and like perry he is a keen because of his mathematician's brain he was able to describe problems in a way and logical solutions that made him very influential in the clinton administration and i think that might be ash carter's strongest point, his intellect, his deep understanding of how the pentagon works and how weapons

patricia sabga, al jazeera. >> the bill is named for bernie frank and chris dodd, both retired. revised, also watered down version of series of bills proposed by the white house. passing dodd frank took nearly two years but was widely seen as a major victory for obama administration which vowed to bring the u.s. out of the deep recession it nature inherited fm george w. bush. some politicians said it didn't go far enough to reign in. wall street. others said it didn' went too f. >>> peter morrissey who joined us from washington, d.c. i started by asking richard if he was surprised to see the outcome of dodd frank. >> this is the first shot in a longer war. it is surprising to see how easily this was done. stanley fisher, the vice chairman of the federal reserve said he was surprised how easy to roll back the provision. a signal that republicans are going to be going after dodd frank when they have their full majorities in place next year. >> was there a problem with dodd frank to begin with? >> oh absolutely. in the case of citigroup what brought the bank down was its reckless m

patricia sabga, al jazeera. >> urging them to vote in favor of the bill. how much sway does jamie dimon have with congress? >> since the banks have purchased a large number of them, he has sway. huge number of lobbyists, they've been calling, these people have contributed to campaigns, and if you don't just want to look at the banking provision there is another provision in this legislation that increases the amount of money that people can give. and so of course dimon has lots of sway and he shouldn't have. city corp should not be writing allocation to keep our government open. >> what do you mean jamie dimon has purchased members of congress? >> i certainly don't mean than thathatpersonally. he has spent money on their campaigns. they are beholden to the banking lobby. this is their opportunity to roll the clock back but more importantly because these are contributors they owe him and they're paying. >> it wasn't just about republicans, 57 house democrats voted to pass the house spending bill. is it true that money muscle has impact on both bipartisan? >

patricia sabga explains. >> reporter: from tehran to moscow, countries that count on high oil pricesre bracing for tougher times. >> the whole atmosphere can change drastically when prices come down. >> reporter: the latest slide follows saudi arabia's dominated opec decision to keep pumping oil at its current pace. a tactic aimed at protecting cash rich market share at the expense of the poorer ones. none opec oil producers are also in the cross hairs, including russia already reeling from economic sanctions, capitol flight and high inflation. moscow was counting on oil fetching $1,100 a barrel to fund its budget next year. price pressures are also building in north america, with u.s. benchmark crude trading below $70 a barrel. middle of the change where most u.s. oil frac-ers are believed to break even. they could also face lower tax revenues and fewer jobs if producers decide it's not profitable to drill more oils. falling prices should cut others some much-needed slack, however. such anz dea and other developing countries that depend heavily on agriculture, which consumes vastmen

patricia sabga caught up with one woman who is people. >> reporter: this 34-year-old, working the roomr alumni luncheon. >> any of you have student debt? >> she just graduated with $26,000 in student loans, a bill she didn't fully anticipate when she originally took them out. >> i didn't really understand that while i was take classes that i was being charged interest on loans; that the loans were due basically out. >> reporter: nor did she know how defaulting could destroy her future plans to study law. >> if you default on student loans and you are trying to go to graduate school, that could anymore. >> reporter: the changers of defaulting are poorly understanding, a recent survey found only 28% of respondents realized failure to repay can result in poor credit, and withholding of tax refunds and social security. only 37% of respondents realized that student debt is nearly bankruptcy. >> i believe this is up with of the biggest civil rights issues of our time. >> reporter: she is encouraging our fellow alums to fine up for income-based repayment, the government program that allows bo

patricia sabga splays. >> driving down prices to defend market share, a saudi arabian strategy aimedarl at american shale producers says the baker institute's jim crane. >> the saudis would like to see what happens in north america and in the shale plays in u.s. and canada when you have an environment of low prize. are these guys able to sweat it out and tough it out, or does production fall off? >> reporter: as the world's largest oil exporter and opec's swing producer, saudi arabia can sway prices by reining in prices to push more crude on to the market. the historic pricing power is under threat by american shale oil producers who have been flooding the market with new supplies at a time when global demand is easing. >> thanks to shale, the united states is poised today usurp saudi arabia's crown as the world's largest oil producer. the kingdom has an edge to control global oil markets, namely, the ability to extract crude more cheaply than the shale rivals. >> finding and ex tracting oil averages roughly $31 in the united states versus around 17 in the middle east. with u.s. benc

but as patricia sabga reports that rainy day fund may not be as robust as it seems. >> reporter: $414lion. the reserve fund that has kept russia's painful ruble route from becoming a 1998-style death default. and with russian president vladimir putin thursday, assuring his economically ravaged nation that a rebound is at most two years away, it begs the question, how long can russia russia's rainy day fund run out? >> you can run the math with all of assumptions and with all of them it doesn't last forever. >> reporter: they have blown the lion's share, some $80 billion on defending the ruble. and not all of the $414 billion that's left is easily tapped. $45 billion are held in gold, while another $12 billion is tied up with the imf, mostly in non-cash instruments. russia also counts $172 billion in its sovereign wealth funds as reserves, including the national wealth fund, which is meant to cover an expected shortfall in state pensions. >> it's not absolutely clear how are. so probably they should be discounted a bit. >> reporter: deduct these potentially ill liquid items, and russia

patricia sabga takes a look. >> reporter: from caracas to tehran, to moscow, countries that count onoil prices are bracing for tougher times. >> the whole atmosphere can change drastically when prices come down. >> reporter: the latest slide follows saudi arabia's dominated opec's decision to keep pumping oil at its current pace. a tactic aimed at protecting the cash rich market share at the expense of poorer members. >> the iranians need about $140 price, and the venezuelians who need about $120. >> reporter: non-opec oil producers are also in the cross hairs, including russia. already reeling from economic sanctions, and high inflation, moscow was counting on oil fetching $100 a barrel to fund its budget next year. price pressures are also building in north america with crude trading below $70 a barrel, middle of the range, where most frac-ers are believed to break even. this could result in fewer jobs as well. but governments who have grown fat off of oil production are in need of belt tightening. india and other developing countries depend heavily on agriculture. in countries lik

. >> joining us from downtown manhattan is patricia sabga, who protesters. good to see you. you were there outside city hall and that's where the biggest protest began tonight. >> reporter: earlier, thousands of people were crowded here in foley's square. some of them inside crowd control barricades. the crowd was so strong, hundreds of more were spilling out on to the pavement. they came here to express their anger, their frustration and, indeed, their anguish with the grand jury's decision. they came seeking justice i see are a chance go into the crowd. live me give you an idea of the make up. this was a racially diverse crowd that cut across all ages. it was really representative of new york city and of a community very, very frustrated with their relations with the nypd. now, i did have a chance to speak to some of the protesters. one young woman i spoke to expressed her concern she says coming out and chanting and holding up placards is not enough. she wanted to see the brooklyn bridge close. as this crowd started spilling out, they headed toward the brooklyn bridge and

patricia sabga for us. there has been a strong reaction where eric died.n henry spent the day talking to people who knew him. >> reporter: she says eric garner is missed. >> he was very nice. he was a very gentle guy. >> reporter: william galway says his friend was a gentle giebt. >> he was big, but he wasn't a bully or anything like that. they saw him making his little bit of dollars, and he basically, you know, ran things. he made sure that people didn't fight. >> reporter: safe to say there was a lot of love for eric garner here where he ultimately lost his life. the family is now filing a civil suit against the city of new york and the new york city police department. but that can't heal their wounds. >> who give a bamming about money. >> reporter: eric's stepdad says he hopes the federal civil rights inquiry will give him the justice he .wants, the justice he says the family didn't get from the grand jury. >> it's prejudice. that's what it is. it's a bunch of damn klans men. >> reporter: others share the family anger and confusion. >> we are in a nati