paulson is right.ut we do not like the way the executed the saving. >> remember, president obama was not president when tarp was passed, and when the decision was made by that group of people in the fall of 2008 to deploy the great financial strength of the united states in that unique way. those were not his choices. >> these are huge issues. >> a left huge issue. what the president faced, when he came to office, in some ways was a greater challenge. i described this in the book. the government of the united states had guaranteed, provided capital investments, on a massive scale. it was trillions and trillions of dollars of commitments to the system. the economy was still falling off the cliff. he had to come in fresh and say, you have done all that massive financial risk. the economy is still terrible. what is it going to take to solve that? he went through an incredibly exacting process of strategy with that team of advisors over the course of the transition and the months that followed, to try to f

hank paulson and ben bernanke and i, we were completely committed and worked well together. we debated but were on the same page. going into that weakened, you could hear the pressure they were under politically from their political advisers to try to stand back and not step in preemptively and create more failure. ultimately, i think we were completely on the same page and we worked very well together and took enormous risk in protecting people from the risk of a great recession in that context. >> charlie: was there an idea after bear stearns we have to say to this wall street community we're not out here to rescue everybody? >> it's the right thing to say because you don't want people living with the expectation they can expect -- >> charlie: and how powerful an argument in terms in your own mind was that in terms of the decision not to rescue? >> it's the paradox of the crisis. it had no relevance to lehman. in lehman's case, the problem was we had no willing buyer. financial crisis aren't like national security. we don't equip the government, president of the united sta

. >> his whole stream and hank paulson's strategy and bernanke's strategy will be we will be ensuing confidence into the system broadly. the second you don't, it will be harder to give it to everybody else. therefore the whole thing doesn't work. do you agree with that? >> that's what they thought. but what i was arguing at the meeting is the opposite would occur. we were a aaa rated bank. the stock market went down by 40. the book is written after the fact. >> and he should acknowledge that piece. >> he didn't even acknowledge what you said. he said in the book -- to me when i said i don't want or need 25 billion, he quotes himself saying you need more capital than you think. >> right. >> and i responded that you don't understand that we have more capital than you think.

>>> and warren buffet, john paulson, some of the world's smartest investors are buying up shares of verizon, what do they see in this stock that others may not? >>> and caps on coverage, some health insurers are trying to make you pay more for your coverage. but the new approach could be hazardous to your wealth. >>> all that the and more tonight on "nightly business report" for friday, may 16th. >>> good evening, everyone, the bad news for general motors got even worse today. federal transportation officials slapped the automaker with a $35 million fine. the biggest allowed by law. for failing to act quickly enough to recall millions of cars with faulty ignition switches that were linked to transportation deaths. the transportation secretary said that gm broke the law by waiting too long to order that recall even though it knew about the switch problem. >> what we cannot tolerate, what we will never accept is a person or a company that knows danger exists and says nothing. literally, silence can kill. >>> in a statement, general motors said quote, we have learned a great deal from this rec

in fact, hank paulson, former treasury secretary, even came out and said in his memoirs, he said the russians approached the chinese and said if we dump all our holdings of american debt now, we can crater the american economy. and, in fact, the russians did, the chinese did not. but the russians did, and it worsened our economic situation substantially. >> host: you've got a follow-up, "game plan: how to protect yourself from the coming cyber economic effect." >> guest: well, as a part of my research i not only did what happened in 2008-2009, but i got into the chinese doctrine which was written in a book called unrestricted warfare, two senior colonels in the pla wrote this in 999. and they -- 1999. and they said the best way to to beat america is cyber attacks on the infrastructure or ruining the current is i. so i -- currency. so i not only looked at what happened in 2008-2009, but i looked forward to what could

paulson began arguing all during that time until lehman. other people gave him a different opinion but the lawyers of the treasury and the fed were convinced that in the case of a large financial institution faltering, they had two options. either they can let it go bankrupt with no special rules, just flat-out bankruptcy or intervening and profit -- propping it up. also need an alternative, a way we can put it out of business but not bankruptcy. we also, as chris noted -- this is one of the great historical misunderstandings -- we had both been working on the question of trying to curtail the responsible lending -- the responsible lending -- irrespon sible lending. i know there's his argument that the liberal democrats were ning in 1994,begini liberal democrats were trying to slow down loans. the free-market guys were defending them. the data committee i chair that was going to pass, the wall street journal attacking my name and said subprime loans are really good. 80% of them have paid off on time. that seems like an odd statistic. they s

i am sorry, i was making sure that everyone was paying attention and they are, thank you. >> tim paulson and i am the executive director of the san francisco labor council and the labor council as well as the rest of the healthcare coalition, strongly support this legislation, that being said, you know we are proud of the both of the affordable care act for coming into effect and the fact that the hel healthy san francisco and the ordinance that we fought so hard for with the supervisor amiano became the lay of the land and i was involved in all of the negotiations that were taking place with the mayor's office after this past eleven to nothing and i think that it was brought up today and i am thank you, supervisor campos for mentioning this that we were ready to rock and roll and there was resistance because of the political context and we have already had that political discussion six or seven years ago over this act and i think that to have it come up again is you know, sort of a little bit ridiculous. and we do have and i was a member of the mayor's healthcare committee and the one t

did you know steve paulson is back? >> steve, i am happy to see you too. >> we have clear skies, pretty good breeze out of the north. it picks up a little bit and it will be more northerly and an area of low pressure it's all about 15 maybe two 5 for areas on the coast and some higher elevations as well, then it goes north and i expect that to turn more westerly. everything looks good to go here, and here is a concern out to the valley, modesto, the airport, 55 novato, 41 half- moon bay and no breeze there, but it is all over the play and it is variable and it will be a apprise sunday and 70s and 80s near the waters edge, here is sal. >>> good morning, traffic is doing well on many he have these commutes so far anyway and as you come up on the east shore freeway we have a nice looking drive and it's really anding about the speed limit for the entire time as you drive between the carquinez and other bridges. we have westbound 580 near the livermore area, traffic is off to a good start and we have a little more slowing al

everything is cool about steve paulson. >> oh yes. he is cool. we do have a lot of cloud cover over us. some rain to the north. definitely keep an eye on the sky here. for us it will be a much cooler and breezy day. 47 in santa rosa. 10 warmer for many locations. our system is right there and it's making a beeline toward reno and tahoe and truckee. clouds, breezy. a few showers possible to the north. i don't think here but we won't rule out a possibility maybe. i think that would be the southern extent of it. 50s and 60s or very low 70s. here is sal.  >>> all right, steve, good morning. right now on this monday we are not doing too poorly. i want to show you the east shore freeway. that drive that a lot of people make is taking about 18 minutes now according to our computerized road sensors. actually they are cal tran sensors. let's move along and take a look at the bay bridge toll plaza. here that traffic continues to look pretty good with no major problems. i mentioned a problem and that would be on the san mateo bridge. and the end of the sa

she let there, the former fdic chairman and hank paulson, the treasury secretary, now we have tim geithner, who was at one point ahead of the new york fed and moved over to be president obama's treasury secretary. we see an effort here to set history. there will be a number of others ,oming out -- ben bernanke currently at the brookings institution working on his book now. also barney frank, the democratic congressmen who led the house effort on tarp will be releasing one soon. as you well know, these books and movies can be equal parts history and sometimes they're just put out to settle scores. what former officials have fared the best so far? >> that's a great point. the insider account is as washington as a gets. it's not even the people writing them, it's people participating anonymously. i think what you've seen from tim geithner in his public comments and you see in the book as well, they are trying to get their viewpoint of history on the record. they want people to know where they are coming from because as you and i have talked to people who officiated in this -- who participated

>> the one and only steve paulson. >>> we made get a shower or two and you can see clouds, the breeze has picked up too. mostly cloud sky skies, so farther barely north and i mentioned thousand i know some of you are barely up there. i don't think they will drop top as match oakland west january a west and you might get pockets and they will start to site improving conditions and mostly cloudy skies, temperatures are coming down little bit today and we have a lot of upper 60s to a lot of lower 70s, here is sal. >>> we are looking willing -- we are looking at a commute that looks good for example, carquinez to the mcarthur maze is about 17 minutes and sometimes people asked me what is the best and there are no slow downs. >> let's move on and take a look at the bay bridge toll plaza across the bay, i think my maps, traffic does look good and there is a report of a crash northbound 101, right now traffic is not very slow in this area. >>> we are following breaking news where 2:00 are fired at from a bowl bill one home park. the damage looks extension sufficient, dan mean. >> well, you c

did you know steve paulson is back? >> steve, i am happy to see you too. >> we have clear skies, pretty good breeze out of the north. it picks up

berkshire hathaway and paulson added new stakes in the dow component.atching the sort of some of the rotation in the market, it's been a way from the growth names to dividend and income names and now you see the filings of things that already have happened and purpose wondering what was happening -- >> they moved. >> that's what was happening? >> people were moving into those and whether that is a commentary on the prospects for whether we are upticking overall in economic growth. i mean you buy dividend stocks -- >> verizon one is interesting. >> verizon -- do you think they're not going to be able to pay the dividend and continue -- >> that's a tollbooth forever. >> getting 2.5 on a ten-year note and 4.5 on verizon, but people will point out it doesn't take much for you to wipe out a 4.5. one day if, you know, you get a sell-off. >> these telephone -- you know, they're funny businesses. all they need to do from a strategy perspective decide they'll make a big capital investment in something and then all of a sudden the market whacks them. >> s.e.c. st

. >> good morning, i am dave clark, could you talk to your friend, steve paulson, tell him to take it

everything is cool about steve paulson. >> oh yes. he is cool. we do have a lot of cloud cover over us. some rain to the north. definitely keep an eye on the sky here. for us it will be a much cooler and breezy day. 47 in

paulson in the introduction of h.r. 4691 come on the private foundation excise tax. i come from a state with zero strong foundation base, and i have long championed in proving the private foundation excise tax provisions to allow private foundations to better respond to the needs of their communities during economic trouble and natural disaster. charitable foundations donated over $46 billion annually, and in illinois alone foundations give over to one 1/4 billion per year. unfortunately, the current tax code provides a disincentive for foundations to increase their investments during times of economic turmoil. a current 2-tiered rate means that if foundations increase their giving in any year to meet heightened need due to natural disasters or the recession, the unfortunate result is higher taxes for five years. this bill removes this penalty for increased giving by creating a flat excise tax. when philanthropy thrives community's drive. while i support revising the tax code to help private foundations aid their communities, i do not support passing on page for perm

jim paulson and josh feinman. >> golf tips from a legend. >> with the summer driving season just around the corner -- what are you doing -- what will consumersing paying at the pump. the chief oil analyst at gas buddy. do i even have my lights on? "squawk box" continues the show and begins right now. >> may day, my day. >> may day? what the hell is that. >> may day, that's the russian new year. >>> welcome back to "squawk box" on cnbc. the futures at this hour are waiting for claims number. down five points after hitting an all-time high yesterday on the 25th anniversary of really a ground breaking moment i think in american financial history, the founding of cnbc 25 years ago. >> it was a great moment. >> mark hoffman ringing the bell. >> ford holding a news conference at 9:00 a.m. eastern time. phil lebeau has details on what we can expect and the news he proe broke earlier. >> we will be hearing from ford ceo and mark fields, co, who will be replacing alan mulally. they will announce the official transition. we don't know the exact timing

first of all, john paulson.aulson & company, of course, he had a huge bet on real estate back in the day, you name them, remember, he was also big in the wireless side of things, also some involvement in leaf wire homeland securitwire, but a lot of they companieses at least in 2013, which is when this particular study or survey covered, so that's big moves there. next up, s.a.c. capital advisers, steve cohen. 2.4 billion in terms of his pay out, his earnings. cohen's final year on the list and there's a reason why, he was at the center of a criminal insider trading charge last year. he's agreed to shut down, convert his hedge fund into a family office operation, managing his own money as well as employees. he'll still be very rich. yahoo, myron, zoweta, you name it, he trades a lot of these names so that's a big one. coming in at number one, this is interesting, 3.5 billion, david temperaturer from, since 2010 -- >> that's liesman money since 2010, he's returned 5 billion to investors. he made his billions last

my good friend said paulson 60 down here. cloudy and sun. john is very funny. he's already up and watching. he's in excellent shape by the way. we start off 50s to almost 60 for some and temperatures today we will go 65 in san francisco. cloudy in the morning. 54 mild degrees. other areas are warmer than that. you can see the cloud cover over us. everyone else says cloudy. that is why they are a little cooler. 58 antioch. the humidity factor is through the roof. 50s on the temps. 40s in the mountains. 51 ukiah. over all cloudy morning. again and then we will see clearing take place. temperatures for those that like this cool pattern and i heard from a lot of people. next couple of days will be pretty much the same sunday. temperatures beginning to warm up. it's really next tuesday and wednesday. partly sunny. again clouds in the morning. a little drizzle left behind by afternoon sun. 60s and 70s. everyone is pretty close here. and then the pal tern starts to change. mostly sunny. i think the breeze kicks in with that low to the north. >>> federal scientists are

our good friend john in the came bee january area said 47 and clear down here paulson. i like it. i understand it. 15 miles an hour out of the west, southwest at fairfield. some locations are calm and others have a breeze. cloud cover in the sierra is moved out of the area. the low responsible is long gone. some fog inching closer because the system will be here tomorrow for a cool down and a lot of cloud cover. for us 40s to start off. 53 in monterey. today looks good. we will see increasing low clouds and this system will sweep in giving us a little slow down. today high pressure wins out. patchy low clouds sunny and breezy. we all cloud it up tomorrow. at least maybe to the north. possibility of a few showers. sunshine and breezy. patchy low clouds. nice to mild. if you are inland we almost get 70s closer to the coast and bay. temperatures pretty close to what we are -- i don't see much change over here in the next couple of days. you were not supposed to see this. temperatures in the 70s. until then kind of cool into friday. >>> happening today president obama will tour commun

steve paulson will be here to tell you if this means any rain in the forecast later this week. >>> and controversial los angeles clippers' owner donald sterling, gears up for his legal response to the nba's lifetime ban over his racist comments. >>> two strong earthquakes shook both thailand and japan early this morning. the quake in japan lit the ocean southwest of tokyo. the quake in thailand several hours later centered in the northern part of the country. but was felt as far awas abank -- as far away as bangkok. here are some photos. as you can see, roads, buildings and buddhist temples are damaged. information is coming in still. but no reports of injuries. in japan, video captured the moments during the 6.0 quake that rattled windows and security cameras. 17 people were hurt. this quake is the strongest to hit the area since the 9.0 and tsunami back in 2011. >>> billions of dollars in improper medicare payments that government says is fraud, waste and abuse. justin gray just spoke with an investigator who looked into this and joins us live. justin? >> reporter: yeah, tori. the nu

ktvu's steve paulson will be here to tell you if the temperatures will warm up later this week. >>> and the oakland zoo playing a vital role in the treatment of an endangered california condor with lead poisoning. >>> 12:14. it's a battle between money verses beauty at san francisco's board of supervisors weighing in on whether to put more advertisement around muni buses. it's estimated the proposal to wrap up to 30 muni buses in ads would generate about $325,000 a year. and those in favor of this say the money is needed to make up for the loss of revenue from sunday parking meter enforcement. but for some muni riders, the proposal is an eyesore. >> i don't know. i think we were just flooded with that stuff. too much. >> the proposed ad contract would run from july 2014 until june 2019. a second subcommittee meeting is scheduled for tomorrow morning. >>> an endangered california condor is being treated. why today's treatment is such a big deal. good afternoon, sal. >> reporter: good afternoon, tori. it's a big deal because this is only the second california condor treatment facility in

the massing its traipse in southern ireland with american canadian and british or treat is taking paulson exercises. the alliance accused is more scary with using special forces in this effort is taken to the mainly russian speaking eastern ukraine. the syrian rebel presence in our homes has come to an end. rebels chip is a man took the form of serious the largest city is a major blow to the opposition the eu's proposed impression on the side of weeks before his likely re election. this is the once known as the capital of the revolution and peaceful pro democracy protests is known to the control of syrian troops as part of that deal between the insurgents and forces loyal to a son. it follows months of gains by the army backed by its lebanese allies hezbollah downtime due to the un humanitarian affairs court makes a pretty good signs for maintaining the ceasefire. play the old aunties to show the complete respect but it was a cool minty green and making a real asset to the state going to see at the top of the day i come up to two years of the cold of business the left but grew into depict

. >>> 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

their refusal to be intimidated them at determination to take paulson selections is a sign of the strength of this country and of this country's refusal to allow russia to undermine your independence and you'll territorial integrity. the crisis that ukraine is facing is not about east and west side so the moment ago. this is about ukraine's right to be successful for you and independent nation able to choose for yourselves who you try it with. we're elected to leave is to be free to decide your own future. of course many people in this country as are many other countries will be a decisive five with life and people across this country and show a more economical to tune into the living standards. they will the rule of law ll. i want an end to corruption some people on board the centralized government as well. and people in this country again as in our country and other democratic countries have the rights to express their views on all of these issues. but a successful prosperous democratic future can all be achieved by folds. by taking up law school by organizing so called referendums and f

. >>> and steve paulson has been talking about some interesting interest some of the higher elevations, mostly cloudy here in the morning, windy at times, showers possible to the north and lake county and this is a better opportunity, shower luster keeping everything way to the for the and there will be there but the breeze is definitely all over the place and i have seen it get up all over the place but the breeze is definitely low. this willen end stream heyp elevation and we don't want to see any lightning and we top want to manipulation that. cooler ice ate out to the north and here is sal. >>> we are looking at a commute which still looks good, there are no meant problems and you can see more people showing up less than 8 minutes to drive a cross and and you can see traffic here is looking very nice and there are no major problems and drive times are go thing higher, 32 minutes on west beep i-7 let go back. >>> an arrest, a mother is accused of attacking a student. alex savage is in santa rosa with what happened and the mother's side of the story, alex? >> reporter: and a had he e

. >> reporter: working with then treasury secretary henry paulson, geithner tried to find a buyer forized you couldn't save lehman, what were you thinking? >> oh, i thought it was going to be terrible. and, of course, it was terrible. it was worse than we imagined, though. >> reporter: the next day, the stock market plunged 500 points. >> there is a perception, i know, on wall street that you found a way to save bear stearns. you found a way to save aig. >> yeah. reporter: you could have found a way to save lehman. >> yeah. reporter: it was lehman case, there was no buyer. >> the end we worked very, very hard to try to make it happen. >> reporter: that fall when president-elect obama approached geithner about succeeding paulson as treasury secretary, his wife, carol, who he met at dartmouth, strongly opposed it. >> i really had a sense of dread about that. >> reporter: was it worse than you thought it would be? >> it was worse than i could have imagined it would be. >> reporter: what was the hardest part? >> having a person that you really love and care about being beaten up and criti

first, henry paulson announced timothy geithner massage the financial crisis message. good morning, everyone. this is "bloomberg surveillance ." live from world headquarters in new york. monday, may 12. i'm tom keene. joining me, scarlet fu and adam johnson. a busything going on but week ahead. >> let me start with what happened overnight. china says the banks on the new loans than anticipated and over the weekend we also learned china's president xi jinping says of the company needs to adapt to a new -- >> i caught that. pimco note. >> apparently bill gross -- the new normal of slower growth. while china's new normal is a lot faster than ours, it is still slowing. that is the theme. analysts are forecasting china is heading for its weakest expansion since 1990. poland will not raise its benchmark interest rate. thelive and well around world. economic data in the u.s. -- 2:00, the monthly budget statement sometime today from a friend in washington. we will do more dislike whimsies and the mortgage. monday.ts up a quiet an amazing week of economic data coming up. >> ret

. >>> steve paulson said there is already some fall out and tara moriarty joins us from antioch where we have been telling you there is an overnight grass fire. >> you can see the char marks behind me and basically when you have the wind and dry conditions and it means the wind will burn through the dry grass from last year. it started at midnight and was under control a half hour before and it was at the regional park. luckily nobody was hurt and nobody was threatened -- [ technical difficulties, stand by ] [inaudible] >> we have space cut around your home and make sure your gutters were kept clean -- [inaudible] [ technical difficulties, stand by ] he came and attacked me and -- >> coming up at 6:30 alex savage will tell us what that woman did when her accused kidnapper tried to force her into his car. >>> mainly mayday here and around the world. janine de la vega joins us to tell us how to involve immigration reform. . >> reporter: that tradition continues with undocumented people and immigration reform. let's go to video from the march last year where hundreds of people marched ra

. >>> yes, the race kicks off, 10:45 in san jose, many riders are expected 2:45 steve paulson said it will be at least 70 degrees and the remaining stageels takes riders down the coast then through southern california, st. cape you' all to the oaks. it doesn't matter there is a fight over parking spaces. people with v.i.p. seats park closest to the stadium and others will have to wash in the media, some are as far away as a mile from the stadium. >> i wish parking would have been planned into some of this and it seems a bit scattered and slightly inconvenient. >> they say parking is to avoid long traffic backups for fans getting in and out of the stadium. >>> the decision comes less than a week and she is the third person hit while crossing the intersection this year alone. that include a deadly accident in february and they plan on having a new light installed ahead of the installation date. >>> and near the territory, that is a long tie after cop likes am and they also spotted one dashing across several lanes and this will be in place next month to make room for the construction on

. >> good morning, i am dave clark, could you talk to your friend, steve paulson, tell him to take it easy on this hot weather. >> it is a little hot. >> and i said i am working on it pamela, you know that. >>> we have it warm and on the cool side too. the records yesterday, now locally, we should be between 64 and 73, fso that takes care of us and here is one that flawed mood now ever 0ing on the 2. and that's napa airport. santa rosa is down to 51 and i would not be surprised if a couple of 40s pop up. that tells you nothing is going on and there is a hint of an offshore breeze so no sign of a delta breeze yet. by this afternoon, it will start to show itself but it will still be very warm and very hot for some. warm to hot afternoon and most locations, i will tell you more coming up. >>> traffic is moving well around the bay area and if you are driving on the east shore freeway, it's still taking you 18 minutes to drive from the carquinez to the mcarthur maze and once you make it to the maze and to the toll plaza, it should be a very nice, easy way less than eight. not a bad commute

steve paulson said it's going to heat up. >> yes, slowly .ted yesterday, we have very lower 80s. >> clear and cool, calm conditions, sunny warmer for all, mainly inland areas will be up in the 80s and starting off, cooler and we will have a high of 86. but we have 49 in livermore, there is the napa airport, novato 46 and i have seen a couple of 49s and it is a little cooler, but it is a warming trend and this week was cool and it does take long but wednesday will be the warmest. >> sunshine even though we are starting off on the cool side, we have a few inlands a couple of lower 80s around the bay here is sal. >>> we want to give a heads up normally as we go to 880 pictures, we go to the downtown area, it might take you double that may be even triple that as they are clearing an accident, it was blocking lanes for a while and traffic was slow as you can see on 880 south which is what you see on the left and if you are a skilled oakland driver, perhaps international to that area and make that right, if you just don't know those ways give yours

first, henry paulson announced timothy geithner massage the financial crisis message.ing, everyone. this is "bloomberg surveillance ." live from world headquarters in new york. monday, may 12. i'm tom keene. joining me, scarlet fu and adam johnson. a busything going on but week ahead. >> let me start with what happened overnight. china says the banks on the new loans than anticipated and over the weekend we also learned china's president xi jinping says of the company needs to adapt to a new -- >> i caught that. pimco note. >> apparently bill gross -- the new normal of slower growth. while china's new normal is a lot faster than ours, it is still slowing. that is the theme. analysts are forecasting china is heading for its weakest expansion since 1990. poland

. >> it is now 5:30, steve paulson, very windy. >> it is going to be for some. no doubt about it.id somebody cue them up, because we are almost there. my friend is like that. and we have cloudy skies and a few sprinkles, not a lot, it is all associated with this low and it is on its way to the central sierra. the breeze will kick in behind it, and 49 in san jose, 67 for a high, these are below average temperatures and i just think there there is too much in place for gold eye and stockton and it went by really quick, we didn't see much but there are a few sprinkles and it looks like it is falling apart. some of those clouds did produce a few sprinkles and a half moon bay, we are going 49 at 7:00 and 50 at fso, gusts at 25 and higher elevations, the low and as we head out, a few showers in the morning, there are a lot of 60s and lower 70s, here is sal. >>> traffic is not all that bad as a matter of fact traffic is okay with no major problems and if you are driving on interstate 880, traffic here does look pretty good as you drive through with no major problems and i have been looki

mark is in for steve paulson, nice day out there? >> yes, winds will be taken and it is that time of year. oakland 50, concord checking in at 54 degrees and we are on track to reach lower 80s this afternoon and we will be 82 degrees and san jose checking in at 54. here is the forecast for your wednesday out there. 7:00 upper 40s to the upper 50s and by lunchtime 72 degrees afternoon temperatures range and the eventual range coast side, warmest locations and wind speeds do pick up around 25-mile-per-hour and here is a look at our forecasted highs and as i mentioned santa rosa 85, san jose 89 and 83 degrees. we will take a look at your weekend forecast and sal is standing by with your traffic, sal? >>> we are looking at traffic which is getting busier by the moment. a 21 minute drive to the mcarthur maze still on the good side, no problems at the bay bridge toll plaza and we are looking at a delay 30 minutes or 30 minute drive time into san francisco with no major problems. it is up to his old bad tricks, to the center of livermore by

101 on a 208 are -- 208 are not too bad, let's go. 14 minutes before the hour and let's go to steve paulson yes, it would be the power hour. >> we put the word out it was quiet on facebook and twitter and we all respond. pam and alameda, kelly up in bridgeport said my josh, we have -- my gosh, we had a dusting of snow and rain was i respond so a blustery to windy day especially on the higher coast, cool to to chilly, how do you want to slice it. a lot of cloud cover, san jose, partly cloudy skies, 49 and 59 and a high of 67. it will be breezy and cool, take a look at oakland, bay point, i doubt much hit the ground and a couple of sells, they are on the western edge of it but the stronger part is just at the end. man teague, out towards modesto, 43 napa and if it was not for the breeze it would be even cooler. it is chilly, and and i don't think people are am having any problems, some much that rain will come and 32 and the line is baking a "b" line and he don't like it and it is windy and cool today, a lot of cloud cover and afternoon sun, a few sprinkles, so far nobody has reported anythin

>> let's go to steve paulson meteorologist. [ laughter ] >>> we have fog over the city. thank you. kind of a cool pattern. not really getting warmer until thursday or friday. and even that looks to be near average to slightly below. the low clouds underneath that has been some rain up in the north coast. maybe a tenth of an inch. cool and breezy. cooler i should say. mostly cloudy in the morning. partly cloudy. breezy and wind any. could be a few guys showers. san francisco starting off 54. cloudy to mostly cloudy. we will keep it on the cool to cloudy side. 64 for a high today. there will be a pretty good breeze. see some of that rain. some of that might move into lake county and cob mountain area. and sierra nevada by tonight and tomorrow. 40s and 50s on the temps. not outrageous yet on the breeze. but it is picking up. it's on its way top las vegas. the track will take it right over the sierra nevada. until that happens probably wednesday definitely cool breezy pattern. the wind picks up and temperatures staying on the cool side here for awhile. below normal temps. isolated show

paulson? >> i. >> mr. marchant? >> i. >> ms. black? >> i. >> mr. reed? >> i. >> mr. young? >> i. >> mr kelly? >> i. >> mr. griffin? >> i. >> mr. remacey? >> i. >> mr. levin? >> no. >> mr. wrangle? mr. mcdurmit? mr. lewis? mr. neal? mr. bassara? >> no. >> mr. doggit? >> no. >> mr. thomas? >> no. >> mr. larson? >> no. >> mr. bloom? mr. kind? >> no. >> mr. crowley? ms. shorts? >> no. >> mr. davis? no. >> ms. sanchez? >> no >> mr. mcdurmit? >> no. >> mr. lewis? mr. neal? mr. bloomenhower? mr. pascel? mr. crowley? chairman camp? >> i. >> care -- chairman camp, i. >> 23 i's and 10 noes. >> it is agreed upon. without objections members have additional to days to provide other items. mr. teeberry? >> my bill will allow more companies to take advantage of bonus depreciation. it allows businesses to expense 50% of new equipment and bester invest for capital for create jobs most important jobs. extending bonuses is the biggest fact factor that allows businesses to grow. it has been allow today expire multiple times. by making this provision permanent businesses will have the certainty

he served under treasury secretary henry paulson and was a former adviser to condoleezza rice. he would be guiding all about -- itsaba's pr efforts before ipo. and the square has launched a new mobile app, square order which allows people to order and pick up food. right now it is only available for a few restaurants in new francisco.n it is also pulling its square wallet app, but will continue to support it for those who have already downloaded it. fcc chairman tom wheeler is revising his proposal for new rock band roles that would -- rod band roles that would create broadb and roles that would create internet fast lanes. they would make sure that it slow not create internet lanes for those who do not pay for access. the fcc will vote on whether to officially start the rulemaking process. editor-at-large cory johnson is with me in the studio and peter new york. bring us up to speed. what is the latest? >> a lot of pushback for -- >> a lot of pushback for tom wheeler, as well as from democrats. what he is doing now, he is tricking his proposal. we have not seen the final langua

slight trade melvyn in new york state for the college graduation of his daughter melvyn missed steve paulsonll scotch as mayor and from blue jays had into nothing lead. to the fifth inning and eric morse. sinking fly ball once upon a time great giants and great steroid man making a comeback in toronto up laws so was the 832 a's. norse this time the appeared to not deliver the goods and blue jays win 32 for sunday's loss two straight games since may 7th this still lead the american league west by three games trip 49er football but you're wrong thing. take a look at the rookie minicamp today. harbaugh got a look at the first-round pick no. 25 jimmy defensive back #28 no. 2 pick running back a house state and it jura's jr. wearing no. 83 with psycho in baltimore pre tough he didn't have he had an outstanding and hellenist outstanding college career but a good job in a >> : first-round pick everybody says has a real chance to make the team in fact you hear the fourth round pick brizola intent on sports night live for tonight. with o.j. and bis. that starts at 9:00. what to do with all this miss

henry paulson and timothy gooet near talked about the emergency they worked through together and howir "stress test" describes it. melody hobson spoke to geithner last night. >> those weeks in the fall of '08 was five times larger than the shock that happened at the beginning of the great depression. and we could see the dimensions of that then. it was terrifying. i was sort of lucky at that point in the fall of '08 because hank paulson and ben bernanke had to carry the biggest part of the public burden. you have to be open with people about the challenges without adding to the fear and the loss of confidence. >> reporter: housing remains the story. the prices have risen faster than income in this country. and affordability is now becoming a problem. and you say the one thing you wish you had done was to help the homeowner more. >> i wish we'd had the ability and the capacity and the resources and the authority to do more. it is gradually healing. it's just you going to take a while for that to happen. >> reporter: how long? >> if you think baseball season, most people would say it's

republican secretary of the treasury, hank paulson, who said as a general rule, i don't believe that tax cuts pay for themselves. and then mr. alan greenspan, who initially said in 2001 and 2003 that he got the tax cuts would pay for themselves. however, upon review of those , on ats, he came back response to a question on "meet david gregory. the question was, you don't agree with the republican leaders who say tax cuts a for themselves. mr. greenspan -- "they do not." republicanour colleagues are being asked to vote for a $155 billion increase in the deficit. which they all say they want to bring down. up ande they will get rationalize as they did in 1981, in 2001, 2003 that those tax the will magically grow economy's so that they would not exacerbate the deficit. been in3 years i have congress, that has not been our experience. so, mr. leader, i very sincerely hope we can join together in a bipartisan way and support this theslation, because it is right thing to do in terms of growing manufacturing and it is the right thing to do in bringing down our deficit to pay for it and i yi