so that's secretary paulson. and then with him on stage is david wessel think is also very well known to a washington audience. david a few months ago joined the brookings institution as director of hudson center on fiscal and monetary policy. but as most people know, for a few years before that, 30 name and he worked at "the wall street journal" where he covered economic and many other issues, and he won two coaches along the way which is not bad. he is a frequent participant in ncr's morning edition so i'm sure you have heard him there. with that i will leave the two gentlemen to take it over. >> it's a pleasure to be here. hank paulson is just back from a trip to china, and asked him how many times has been to china and he paused for a moment and said, more than 100 times. both dana goldman and at the treasury, and now in pursuing a third career which is interestingly 100% nonprofit. is no investment in china except i think maybe his heart, a little bit. mr. paulsen, i thought i would start with remembering th

but anyway, thank you very much, joe paulson, and jim duran of united capitals. >>> and as we reportedere could be a lot more turmoil in the markets tomorrow. two of the big banks reported earnings for the quarter. we're talking wells fargo and j.p. morgan chase. what will investors be looking for in the numbers, you know, when they look at banks they think about mortgage fees, loans, treating revenues, are these going to be the drivers of banking revenues or something els else? >> there will be, susie, and there is a little bit of something for everybody, a little bit of good and bad. the thing is, the banks are a barometer for the economy, the economy is getting better, loans are improving, spending up slightly. but trading revenues are expected to be negative. unfortunately, the weather hurt the banks as well as the retailers. they are not immune from this. a lot of people were not trading during the harsh winter storms that happened throughout the quarter. that alone could drive revenues down 10% as some of the big institutions. >> how much are the legal settlements going to affect

hank paulson is back from a trip to china. i asked him how many times he had been here. he said, more than 100 times. both at goldman and the treasury and now pursuing a third career, which is, interestingly, 100% nonprofit. he has no investment to china except maybe his heart. mr. paulson i thought i would , start by remembering that you presided at the home for a horrible financial crisis. we were a country with a sophisticated financial system with the people running it. it didn't turn out to be as good as we were led to believe. in some sense, the chinese are facing what is regarded as a potential for a financial crisis. perhaps with less expertise. they do have a few resources that they need them. i wonder if you could talk about how big a risk you think there is in shadow banking or credit boom or housing. how well prepared they are to manage it if it hits. >> thank you david. it is great to be here. that was a question i got a number of times in china. my view is, of course every economic system known to man, every economy from time to time, will have financial cr

paulson onent, henry china's economy. then proposed changes to the tech system. two journalists talk about the new book they are working on. the boston memorial ceremony marking the bombing anniversary. the next washington journal, we will look at the financial disclosure statements and how much money they are raising in this year's selections. -- elections. the chairman of the federal usction commission will join to discuss how his agency has been affected by the recent supreme court decision. and keep johnson, senior reporter -- keith johnson will focus on the role that natural gas plays in the relationship between russia and europe. when the conversation on facebook and twitter for washington journal. former charger he secretary henry paulson says china's economic gains over the last 30 extraordinaryn but not sustainable. speaking at the center for strategic and international studies, he said that the leaders understand climate change. this is one hour. >> it is a pleasure to be here. i asked him how many times he had been here. he said, more than 100 times. i

please join me in thanking hank paulson. [applause] thank you, mr. secretary.ll for coming, especially on a rainy day. we will be continuing this conversation for another year at least so i hope you will join in with us. thank you. bye, bye. [captioning performed by national captioning institute] >> the supreme court earlier spoke about the total money people can contribute to federal elections. than 117,000d more dollars total in election cycle. thecourt found it violates first amendment. you can hear the argument in about an hour from now. the bostontern, marathon bombings was a year ago today. primetime will take a look at human to intelligence. historicalmerican association conference in washington. >> it is my great privilege and high honor to and personal pleasure to present to you his karzai,ncy, hamid resident of afghanistan -- president of afghanistan. [applause] >> thank you. thank you very much. thank you. please. thank you very much . please. thanks a lot. thanks a lot. please. thank you for the great honor. mr. speaker, mr. vice president, members

. >> -- hank paulson.t when history is written and we look back 100 years from now, his name, and bernanke and greenspan will consistently be on a list that i can imagine other people on this list will not be. it's almost not impossible to believe what happened as treasury secretary -- forget about goldman sachs going public, changing the face of wall street. how did he get missed from this list? >> he is an incredibly inspiring person and truly heroic. >> you don't have to decide he's been heroic. just that he was impactful. >> they were better at solving a problem rather than anticipating it, right? >> we could have done another trio. how broad are we going to make it. and that's number one. and number two, the crucial element of the fed with the money spigot was dominant. >> so was the time frame. a longer period. it was still longer. this was a 30-month -- for that reason we would have put him in there. hugely transform active for a lot more than 30 months. we're looking for somebody with a longer reco

paulson was taken to the hospital along with her husband 66-year-old john. in the car that was hit head on. they are expected to survive. she is a long-time napa valley chef. she currently owns mustard's grill in napa. >>> hollywood movie legend mickey rooney has died at the age of 93 after a long illness. among many memorable roles he played opposite judy garland in this movie babes and arms. this was back in 1939. his career spanned from silent comedies to tv to broadway theater. mickey rooney started his career in his parents act. he was still a baby. he broke into the movies before he was ten years old. he won two special academy awards for his movie achievements. and he was also married eight times. >>> people are leaving flowers on mickey rooney's stars on the hollywood walk of fame. he has four for radio, television, movies, and live performances. >>> crew crane january -- ukrainian security forces are trying to keep control. pro russian demonstrators are clashing with ukrainian police. there are reports that gunmen have taken over -- thousands of rus

let's check in with steve paulson. did you say fog may be moving? >> wednesday, pam. >> okay. >> yes. but thank you for listening. >> yeah. >> mainly 50s on the lows. coast looks good today. it will be warmer today as today. if today is not the warmest day then i think tuesday. there is a little hint of an offshore push so 70s to low to mid 80s. especially inland we had 70s to near 80 degrees. clear skies. sunshine. it will be mild and warm. already mid 50s for a few. half-moon bay at 42. 49 ukiah. 28 in lake tahoe. it's here today and tomorrow. here is sal. >>> we are looking at a commute that is getting busier that is for sure. i think some of the spring breaks are over. and last week we had a little break. this is a look at highway 4. you can see it's moving along slowly. bay bridge toll plaza 35 minute delay. especially if you are near the end of the line. time has increased at the toll plaza. if you are driving on the peninsula, traffic on southbound 101 looks good. we already have a little slow traffic on southbound 880 in hayward. let's go ba

guest: i agree with secretary paulson.a does need a better economic model to sustain high growth. but this is an important thing with my discussion of china in the book. in order to change its economic model, it will have to make in port and political changes and changes that, if they are made, will make china maybe not a full-fledged western democracy, but more democratic. it is in china's economic interest to become more democratic politically. there was a report this past week that china by the year 2020, available on the c-span website, will surpass the u.s. as the number one global economy. guest: china may surpass the united states in total output, but china has four times as many people as the u.s. china could have an economy bigger than that of the united states, but still have its people with about one quarter the per capita income of china -- in china, and the political pressure in china is all in the direction of boosting the per capita income of the chinese people, making them better off. and that, i think, is

jim paulson is our guest from wells capital management. tal ma.ality teaches you... firsthand.e. in the face of danger, and under the most demanding circumstances. experience builds character. experience builds confidence. and experience... has built this. the 2014 glk. the engineering, and the experience, of mercedes-benz. see your authorized dealer for exceptional offers through mercedes-benz financial services. [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration. mfs. i don't always have timeh to eat like i should.. that's why i like glucerna shakes. they have slowly digestible carbs to help minimize blood sugar spikes. [male announcer] glucerna... >>> coca-cola getting ready to report. will its earnings put a smile on your face from the beverage giant. that's 7:30 a.m. eastern time. its response to activist criticism. >> an awful lot of money

meteorologist steve paulson is on it. he fired up ktvu storm tracker 2.e will tell us where and when to expect the heaviest downpour. >> plus was it set on purpose? the fire this morning at the offices for children's hospital is suspicious. zñzñzñtgtgçwoç'c'cz<;<;<>xxó1?1x . >>> we're live in oakland where a suspicious fire breaks out near children's hospital. we'll tell you the connection to the hospital. we just spoke to a hospital person. he tells us exactly who will be impacted today. >>> friday morning rain. it's been an active week. we're ending the week with rain. what about the weekend, can we clear this

but then you had first the bush administration, paulson, geithner.hen later you had, geithner or, fed chairman bernanke, and then whoever was at the new york fed at that time. they getting a lot of credit for saving the economic system. do you agree with that? that what they did in an emergency situation, they made hard choices that had to be made. do you agree with that assessment of what those people did in those two administrations? >> as i made clear, when there was only so much time and so much money to go around, they saved the largest financial institutions. they did not focus on american families and small businesses. >> so not the banks amid the loans. we're talking about what happened with a financial disaster that affected everything. what should they have done? >> they should have put that money into the banks with strings attached. let me put it this way. whenever a big corporation gets into financial trouble outside this crisis, when big financial corporation gets into trouble and new money comes along to be put in, whether the company

guest: i agree with secretary paulson.na does need to change its economic model to sustain high growth. but -- this is an important theme of my discussion of china in the book -- in order to change its economic model, it is going to have to make political changes, important political changes, and changes that, if they are made, will make china maybe not a full-fledged western democraticbut more . it is in china's economic interest to become more democratic politically. host: but there was a report released ash available on the -- available on the cnbc website -- that china will surpass the united states as the number one global economy. has four timesa as many people as the united states so china could happen economy bigger than that of the united states but still have people with about one quarter of the per capita income of china. and the lyrical pressure in china -- political pressure in china is all in the direction of boosting per capita income of the chinese people, making them better off. i think that is going to dr

steve paulson will be here with what you can expect for the rest of your week. the c.e.o. of gm back for a second day on capitol hill. why she says the automaker waited so long to arab recall for ignition switch problems that led to over a dozen deaths. . >>> the amount of fault that ruptured in this earthquake might be 200 or 300 miles long by 50 to 100 miles wide. >> aftershocks continue to shake chile as thousands of people just returning home to survey damage from the 8.2 magnitude earthquake last night. at least 35 aftershocks ever struck since yesterday. government officials warn people to brace for even more shaking. >> the 35 aftershocks were reported from the u.s. geological survey website. they've been pretty strong. some as big as a magnitude 6.2. the government is saying from early reports they fared better in this quake compared to one in 2010. a day after earthquake request sirens warned people to take cover or head to higher ground because of a tsunami warning, a majority of the estimated 900,000 chilean citizens told to evacuate are returning home. . >> the

scored their third after more good work from paulson. held on to win 3-2.erfection to win the cycling race on sunday. dry conditions in france for the peloton. it is known as the hell of the north. they had to deal with 28 sections of cobblestones and tight bends. a constant supply of dust. three-time racer, defending champion, taken out by his teammate. back onto the roads, losing control in the process. taking out six of the writers. they also arrived the crash. four-time champion was swelled up. all staying hot on his heels. pedals -- of dutchman who won the tour qatar was on a mission and built up a 22nd lead. that proved enough. his first ever win in this energy sapping classic. a flying start, taking a win in race two in marrakesh. lopez took his car to the front and never looked back. his french counterpart rounded out the top three. he then showed off his driving showing offmore, his overtaking ability, passing others for the lead. after that, cruise control. he took the second flag to get to his new career off to his perfect start. >> i could not d

and lots of sunshine today but ktvu meteorologist steve paulson will be here to tell you about changes on the way for your friday and weekend. also gigantic rolls of sod arrived at levi stadium in santa clara this morning. the major progress being made at the 49ers' future home. >>> back now to our breaking news. cal/osha hit b.a.r.t. with three serious citation and fined it $210,000 over the deaths of two workers killed on the tracks last october. one citation said the two workers killed had no business even being on the track way, let alone doing the work with the tools assigned to them. >> the grounds crew actually was not qualified to be working near a live third rail. and as a matter of fact they had an aluminum track gauge that was about 3 feet in length. if that had hit that third rail, it would have electrocuted them. >>> they said a procedure that allowed the workers on the track way was not only inadequate, the workers did not even follow the procedure. the other citation is perhaps the most serious. >> the person behind the controls was a trainee who did not have enough expe

taste great and onto some comfort to you when he reaches the capital which is just two hours away paulson will himself be able to sew on jeeps the idea is still anti folk are well paid administrative job in the city for the collective and she has gained the trust of the locals. philosophy is to allow people to be corporate employees and owned a plantation. the double income secures them a higher standard of living. life has improved since i've grown bananas i built this house and car hire to wires and six children they'll go to school the head. on sundays. just wanted to make some money and is transformed into a market farmers across the water to something fierce winters on the other side the simple comedy from the corporate and candles for every concert in earnest. i have a meal. most of what we said we could use your stamps. the contract that can sometimes have to buy new heidi has already negotiated with producers now she has to get everyone out together and negotiate a price and transport to the dentist were claimed in common the problem. demands growing corn for the past two weeks on

we begin with steve paulson tracking the rain and even more thunderstorms possible, hail on the way. >> absolute little. it's been a rather busy morning. it will continue to get busier here in the afternoon. a line is forming along the san mateo coast. i will get a closer look at it. half moon bay. let's take a trip around. it let up around hercules, crockett, pin noel, rodeo, thunder and lightning in benicia. and just coming over san pablo bay, maybe a little bit of hail. general rain out to the east bay, approaching. south san francisco heading to oakland and hayward, probably on the san mateo ridge and near half moon bay. that's the biggest activity right now. looks like it's punching in at the half moon bay bay airport. it's kind of ban a pattern on the peninsula. over the santa cruz mountains, scotts valley, lexington hills. another line there. the system is approaching. it's cool out. just 50. finally in santa rosa. half moon bay with the rain at 45 degrees in most locations almost all stuck in the mid- 50s. not only do we have showers and possible showers but there is a good s

one from robert paulson saying a clean urine vending machine next to the pot one.of "way too early." "morning joe" starts right now. ♪

ktvu's steve paulson will be here to tell you if this is the beginning of a cooling trend or if there could be warmer days ahead. >>> a family in the south bay narrowly escapes an early- morning fire in their town home what they credit with safing their lives. -- with saving their lives. [father]c'mon,buddy,you can do it.c'mon,reel it up, you gotta reel it up now,buddy. reel it up. [father] reel it up,you got him on there.bring him in. is that a bass? [boy] yeah,i got a big bass. [father]bring it up.keep reeling.keep reeling.c'mon, where is he? whoa! you caught that all by yourself? [boy] yeah! [father]how old are you to catch that? [boy]three! [father]you're three years old? show me how many fingers that is. >>> search crews are relaunching a robotic submarine in their effort to find the missing malaysian jet. the unmanned sub was sent into the indian ocean yesterday to detect possible debris on the ocean floor. the mission was cut short when it reached a maximum depth of 15,000 feet. crews adjusted 69 device for shallow water -- this device for shallow water. >>> right now, thousand

deepening divisions between russia and western powers over the crisis in ukraine the palm trees and paulson goldman called being so quick to respond to a children's chorus quick to stimuli situations. the committee also more in the canteen tinkering of asset purchases by the us federal reserve could ring ring in volatility damaging my kids. it's a very low inflation in some european countries represents another potential risk the united nations panel state government seats and faster to keep climate change in check. otherwise they see people around the world will see more. he claims floods and droughts them and daily it in front is from about one hundred and twenty nations take part in a week long session of the intergovernmental panel on climate change. they released the latest instalment of an update they put out every seven years we had estimated that there was a limited amount of space available. in terms of total emissions. the bid to limit temperature increase to within two degrees says written comments to an attendant in cases t two degrees celsius above pre industrial times and plac

. >>> walter paulson. ♪ it's good to take a housing stand good luck with your five-year plan and i hopehe money comes to you renting like sand but i believe in housing yesterday why the rent has to go, i don't know it went so high then i sure would like it to get better would you give it a housing better try yesterday, rent was such an easy game to play now we need a housing rent that will -- item money stay oh, i believe in renting yesterday [humming] ♪ >> thank you. (applause) >>> hi, i'm larry edmonds and i would like to start off first by saying -- [speaker not understood]. our climb will be steep. we may not get there in one year or even in one term, but america, i have never been more hopeful than i have tonight that we will get there. but promise you we as a people will get there ~. that's a presidential welcome. i wanted to get here at 1 o'clock, but i'm a [speaker not understood] ambassador of hope. when it comes to housing, i would like you to look at this. whether i live in a house or an apartment or s-r-o, i think -- i've been going to the mayor's new care council and lettin

talent and eighty six million dollars in its initial offering in the us labour controlled flight with paulson company signed a call that sold sixteen point eight million american depository shares at seventeen dollars each for the ipl. sources involved in the offering said the company whose name means my crew called in chinese and only a plan to sell twenty million shares for as much as nineteen dollars each decided to price in the low and because of recent stock market turmoil taken a leap in technology says. since its launch in two thousand and nine. labour has become a major online forum for discussion. a place where it's nearly one point four three million uses talk about everything from korean soap operas to chinese politics box like many other internet phones the company has to operate within china is heavily censored and tightly controlled media and finance with als ipo comes ahead of another chinese offering which is set to be made like the coolest giants have the bulb out of the bible is expected to raise about fifteen billion dollars they see it in what could be the biggest internet

. >> steve paulson, about the same? it is pretty warm? >> some patches of fog. we had more talking about the fog horns and i know this is at half-moon bay and i don't think it will last long, it was there and will not last long but there is a slight component of an easterly breeze, 70s to mid- 80s and san jose is 58. a thick fog right around highway one we have fox here where i can see it and that was not the case yesterday. inland it is still going to be sunny and patches of some coast fog, a few high clouds, 70s by the coast, probably not as warm but 80s well inland, here is more. >> traffic continues to move around nicely around the bay area, this is a look at interstate 880 and the commute is looking nice between downtown hague and oakland and also the same thing goes, less than 8 minutes across, this is just a reminder, a lot of people will be driving across in the middle of the day. as you drive from the pass to the change, that is taking about 25 minutes. let's go back to the desk. >>> happening today, they will face a judge accused of stealing prescripti

steve paulson, has the rain moved?> why yes, we do have a lot moving in and the combination will give us a mostly cloudy day, a little more sun further north. still a high cloud deck and temperatures have come up and that that is a sun and any light rain i think the further north more than anybody else, again that would be late tonight and tomorrow. highs today and tomorrow, a few mid-60s to upper, here is sal. >>> we are looking at a commute that is look well there are no meaning problems but it will change as we get closer to 6 and the traffic and drive time looks good and as we look at contra costa there is slow traffic on highway four through antioch and it looks good to walnut creek to the venetia bridge. >>> they are suspected of murder and they are among five suspects facing murder charges and even though no of them did the actual killing. joining us now from campbell with more on that story, here is more from campbell. >> reporter: he was arrest of the after he stabbed a man and charges were dropped and he left

. >> good morning, let's check in with steve paulson, the weather will be changing quite a bit over the next few days. >> no big deal, clear skies, cooler 40s and 50s and and it will not take long to start warming up but noontime we'll see a big warmup 72 to 90 and going to 90 in clear like. 50s san jose, 46 half-moon bay tells you the coast is clear so they say, we have a little puff of a north breeze and everything says high pressure is large and in charge and taking over and when it does it will be here for three days and will be obliterated. warmer today sunshine warmer for all, a good 10 deglee temperature and i do it for you. we are up to near 90s for some. here is sal. >>> we are looking at a commute which is not bad for a start and sometimes we can ease into it very nicely and today i think that is what is happening and today the bay bridge looks good still about an 8 minute drive time to the toll plaza to the san francisco side and most of that time is on the bridge but one metering lights go and we will let you know when that happens. moving along, taking a look at interstate

good morning, thank you for joining us, it is monday morning, i am dave clark, steve paulson, 90s 08s in. >> wednesday -- 08s? >> wednesday, pam, for those of you listening, clear skies patchy fog, but we might be sunny and nice and we will have it's nice and better for the 40s and there is a slight breeze and sunny and warmer and the furthest will be inland locations, it will be a little cooler to start downtown oakland is 68 by the airport, 47 concord and 46 san rafael and we have 40s and that's in moffett, probably about 46 and 50 in san francisco, once we get going everything will be patchy fog and it does not stand a coast of a -- ghost of a chance here. 60s coast and bay. >>> right now traffic is moving along well in some areas and it is slow in others, we will start off at the bay bridge toll plaza plaza. you can see traffic is going to be slow and it is one of those normal morning commutes and we have a picture approaching the 880 split, here is a look at the chp and we don't see anything in san francisco or that that he they are style clearing a crash so far and a rescue oper

. >> good morning, time now 6:30 let's check in with steve paulson, you mentioned cold, hot and everythingt few days or week. >> yes. that is weatherwise, from the weekend to today to maybe this time next week it will be from cool to warm to very cool again and in fact we have a lot of sunshine today and very warm temperatures and it will not take long to start warming out but it will take longer to get my computer to warm up. 40s and 50s, sunny warm and breezy in higher elevations and a nice tweet from scott, same in the oakland hills at the surface but there is hardly anything and the winds are picking up to the for everybody. oakland downtown and it might benefit from an offshore breeze and i might shout out to maurice, he said i want to wear shorts is it really going to be warm? yes, it is. 55 fso, starting off cool but everybody will be in the upper 80s to near 90 degrees and today on thursday it will be our stretch of warm weather and we have a quick warm up here and warmer temperatures and a good jump maybe even warmer than that. if you like sunshine and warmer temperatures, breezy

chuck paulson. that's the long answer to your question. would you prefer the short answer? script that was fine. >> short version is that he is the man who led the battle for the abolition of slave trade in the british empire. if anyone knows very little about him, they may know this much. but i didn't know until i wrote my biography of him, amazing grace. one it came out, i was asked, would you like to write a biography. i'd i've never written one. i've never had the ambition or desire to write one. i figure that is a shot i was in in this lifetime. but it's one of those things that i really thought carefully about and prayed about it. because this was a great man and i thought that the honor and the privilege to tell that story is not something to be taken lightly. so i wrote that in the course of that i discovered what i didn't know and what most people don't know. which is that what he did in the slave trade is really the tip of an iceberg. it's an extraordinary thing to think that one man can affect history as much as he did. and so he was the first to say he was held

this is restrictions many homeowners will now face coming up any time of the day following steve paulsonu can find it on twitter. >>> they are trying to find a man who sexually assaulted a 12 -- six-year-old girl. we have more on how this attack may be connected to other crimes in oakland. brian? >> reporter: i'm sure many parents out there are hoping this guy gets caught. behind me is the elementary school where this incident took place 3:15 last friday, she was walkingp around and he picked her up and after it happened, she reported the incident to an adult. it is unclear what he did to lure her away or if she was by herself or with others and we have to call in oakland police to see if she was alone or with others with an average build and in some teen 5ville -- silver horse face and his toe. they are looking into whether it is related to two others in the past couple of months. another girl to was inappropriately touched off of nation boulevard and last month on march 7th, another girl was an appropriately touched on the campus of world academy here in oakland as well. looking for po

federal chairman bernanke and paulson had the credit for bringing us out of the midst of the crisis. they didn't do so well in getting us in. >> they failed to see what was coming? >> they failed to take responsibility for what was coming. >> the leader in the group became the head of citibank and when asked as the vice term and he said that's not my responsibility. >> they knew what was happening. and if they didn't know what was happening, they should have known. >> did you think that leaders of those institutions knew what was happening? >> of course. they didn't know there were $400 million of bogus paper out there. they knew what the leverage was. >> so they didn't do anything about it because? >> i don't know why. the banks were taken care of. they had something called too big to fail. before glass-steagall, the commercial banks and investment banks were separate. they were created to give the mortgages to the people in america and made america the most independent country in the world in terms of home ownership and they served a purpose. the investment bankers were able to gam

paulson could talk about the secrecy of these reforms especially in the financial reform area. >> the secrecy is very important of a reform because, for instance, if you normalize the labor market with, you know, and let everyone migrate to the big cities and take their benefits with them, you have them flooding beijing. they cannot accommodate more people. how do they do that? they are going to normalize the market for second and third tier cities first. the financial market reform, you know, they are going to need a budget responsibility. they have to be held accountable and have sources of revenue that they can call on, but right now mayors don't have budget responsibility and they don't have financial statements that are transparent which are required to have a market. if you need a municipal finance market, they have a ways to go up because they cap fiscal reform, tax reform, give mayors the tools they need to manage a budget. these are going to be very -- that is why he has given himself seven years from the time the announced these policies which was some time ago to get them d

this will mark the first time he has made public appearances with ben bernanke or john paulson sinceft the treasury in 2013. phelps felt -- michael coming out of retirement at the 2016 rio olympics. the 22 time olympic medalist will compete for the first time since the 2000 12 london games in a meet in arizona at the end of the month. stearns 29 in june. he captured 18 gold and 22 overall at the last three summer games. that is look at top stories in the news at this hour. time for a commodities purport. seen a lot of volatility in oil, particularly over the weekend. trade to a nymex five-week high. again, closing right above $104 mark. the unrest justifies the level one veteran trader says. meanwhile, the spread between west texas and brent widens to a five dollar spread which narrowed to just over three dollars friday. meanwhile, summerlike conditions in the city over the weekend. natural gas following on while them -- milder weather ahead. >> goldman sachs striking a bearish tone. why? >> principal terms, the calm after the storm. expecting commodity prices to fall. got their boos

man and he interviewed hank paulson and hank paulson talking about the time of the lehman crisis hank paulson said that the chinese had told him that the russians had got on to them and said why don't we take out like you know destabilize fannie and freddie now that i find interesting the chinese didn't go with it and when the chinese made it up to try and put pressure on how important we don't know but i think it does show that if we start mucking around with them on a financial front the consequences i think for ourselves could be very very dangerous so i read the story person as they are giving credence to the story or you think it's an interesting development we'll use in his blog so why would an addict and other chinese or were engaging in finance a war at the time of the two thousand a crisis when things were looking wobbly and lehman brothers collapsed and i think man and i think the point was that the chinese at that stage were major creditors and had to be kept on side through the process that was why hank paulson was talking to them yeah and but the russians were not really

bob siegel who was president of the board of trustees to render this time -- during the visit paulson,king for hank duke told him not to talk to me, but he did it anyway. i have a lot to respect for help for doing that. he told her what he thought was going on and how this affected him. >> what did he say? >> he basically said it was like a fog of war. . start with a quote from morse amara has come out with this book about rumsfeld. he has investigated very thoroughly and thinks there are a lot of unanswered questions. the quote i use is basically the truth is out there and in principle we can find it. that was my driving force. the truth is out there. i did the best i could. i do not know if what ever get to the bottom of this unless something people really knows what happened or not completely discredited, i do not think they are discredited, but everybody thinks crystal magnum is discredit. just now a convicted murderer in jail for murdering her boyfriend. anything mike nifong -- and they think mike nifong is the antichrist. >> where is he now? urham and livesd on a pension. he has

. >> steve paulson has a look at the weather. >> i do? >> what is it like? >> cooler.t posted this on my facebook page, we are about here and we have a cool pattern for us and we have a bigger fog bank which is even bigger today. it is also starting to lift make a stronger push and it will be cooler for almost all locations and 40s on the temperatures and it we have -- and we have a little chill and even 49 in san francisco, drizzle, san mateo coast and pacifica. grenada, not much of a delta breeze, once it starts to move that far inland it moves inland and breeze tails off and the low that is responsible, it's right there still on its way keeping an eye on things, it is a cooler pattern and the drizzle will be on the go coast and bay. 50s and 60s, one more day some 80s. >>> it is approaching san francisco we have some here into san francisco cross and there are no major problems on the bridge but it is a little bit foggy which steve has been mentioning and sans hose is still recovering and northbound old oakland road, the traffic is backed up all the way from 280, ant

. >> let's check in with steve paulson. >> i don't think that person is saying that.of fog out there and temperatures will continue to cool down inland but again we are getting that pattern where you get 50s to lower 80s and over the next few days, inland temperatures will be coming down and it is a big fog bank, it will start listing but a -- lifting but a low pressure system is on its way and we'll see this fog increasing and cool air a lot of, it will take some time. it is cool with a little bit of the 40s and not much of a breeze right now, we will keep an eye on things and see if that picks up. travis, keeping an eye on the delta breeze and there is still fog, some of that inland, not too thick in some spots, a lot of 60s and 70s and a few 50s, even on the coast. here is sal. >>> we are looking at a commute that is doing well. westbound 880 as you come out towards the mcarthur ranch road, bay bridge toll plaza, a little bit of a backup with no major problems on the upper deck of the bridge, it is still taking some time and also looking at a commute 880 north and

if china had combined, that would have caused some pressure, treasury secretary paulson give assurances the united states would stand behind the dead before there is a legal basis for those assurances. there is something a little troubling about the whole pacific strategy that the pentagon is rolling out as a time when somebody who is the biggest single creditor aside from the federal government in china, the antagonist we are anticipating. there's something unusual about that. extraordinarily hypocritical to hear politicians china bashing, to basically buy their votes on the budget voted to mortgage the country's future revenue to china. >> this is another place you and the tea party are more in league than you ever expected to be because the same people who complain about our being in debt are also complaining about the fact of china. i am just observing a similarity politically. >> i think -- >> you seem uncomfortable with this i am gleeful to make a comparison. >> a few people in my own party we have a choice words about, chinese trade policy, i am sympathetic with people that there