paulson and i met with the house of the republican caucus just after lehman failed and we were askingthem for the so-called tarp money, the money eventually invested into the capital, the banking system and we were saying exactly this, we were saying if the financial system fails, you will see the consequences. one of the congressmen said to me, i have been talking to all my friends and neighbors in my hometown where i represent and they don't see any problem. their economy is working fine. we don't see any problem. and i said, you will. you absolutely will. of course, i was right on that because it wasn't much longer before the economy went into an almost free fall. >> rose: one of the criticisms is you should have seen this coming. >> mm-hmm. >> rose: you accept that to a degree? >> to a degree i do. you don't want to oversimplify. we understood housing prices were high and could come down. in 2005 i made a presentation to president bush going through an analysis of what might happen if house prices came down and we said there would be a recession probably. we knew sub prime mortgag

i talked to hank paulson and tim geithner. do not understand whether the fed alone could have saved lehman. mr. bernanke: absolutely not. the only tool we had was lending against good collateral and that meant we could save a firm that was illiquid, but was fundamentally solvent. lehman -- as a bankruptcy judge verified, lehman was very much in the red, did not have enough collateral. we felt that if we had lent money to lehman, we would have facilitated all of the other creditors escaping and left the government with a failed firm. charlie: did you anticipate what was going to happen if lehman went bankrupt? mr. bernanke: we tried everything we could. we expanded the collateral against with which we would lend. we knew it was going to be bad. i think it was worse than we expected. charlie: aig came and you had no choice. mr. bernanke: it was the world's largest insurance company. on top of the lehman failure, it would have brought the system down. charlie: how close did the system come? mr. bernanke: scarily close. whether or

. >> this is our main lobby bar it's called vanderbuilt court this is fahad ghaffar, a partner at paulson & co., a hedge fund that has purchased this 5-star hotel, and several others. >> and that's our other hotel, la concha. there's a beautiful restaurant right on the beach. there's a big ocean, right over there. >> that's yours too? >> yeah. >> wow. >> and if you go through this gate, you walk right through the park and you end up at a humongous beach, which is in front of la concha, but there's a set up over there for vanderbilt guests and their butler, and they have their butler service right on the beach. >> they have a butler service on the beach? >> yeah, on the beach. >> that's our spa, 6k square feet. 5k square foot gym. it's got the only hammam in all of puerto rico. >> oh, really? >> so this is the tower? >> this is the suite tower. correct. >> wow, great view! >> so here you can get a great perspective of the whole property. that's the infinity pool in the corner. and then we have some other development lots down the street over there. >> you're buying up a lot of this propert

our steve paulson is here to give us the details. >>>. >> it is the day marty mcfly and doc brown travelled here. what was just delivered to michael j fox. this is the dawn of an old day. because at&t and directv are offering yesterday's technology, today. tv from space. [whispered] space as long as it's not too rainy. [whispered] rainy or windy. [whispered] windy or there isn't a branch in the way. [whispered] branchy welcome to the moment no one's been waiting for. the fastest internet and the best tv experience is already here with x1. only from xfinity. ♪ ♪ . >>> now to a developing story. a marine jet went down today north east of london. the base was placed out of the mirimar station in san diego. the pilot was the only person on the plane. there is an emotional scene overnight in new york city. police officers gathered outside a hospital and saluted an ambulance that took away the body of a fellow police officer. 33-year-old randolph holder was gunned down while chasing a suspect. holder and his partner responded to a fight between rival gangs. >>> he is the republicans next choice f

learn more at first5california.com/parents >>> steve paulson with us from the deck. do you have a favorite piece of produce you like? >> he usually has very good stuff. but the lettuce looked really good. >> i like cucumbers, mike. >> thank you sal. >> i do too, steve. >> produce wise it's beautiful weather and also if you like it out there because temperatures are warm. in fact, temperatures on the coast were pretty mild this morning because the water temps went up so there is not much to talk about expect for low clouds and fog. we are looking and staring ahead toward a warmer pattern. starting tomorrow we will kick it in a little warmer wednesday, thursday, and friday. i hate to say it but there is no rain in sight. things could change but so far i don't see anything. >> thanks, steve. >>> san francisco's 35th annual fleet week celebration is under way. the navy brings some of its ships and the blue angels flying team to the bay area. that draws hundreds of thousands of people to san francisco but the navy and city leaders say there is a serious side to this event

the team we had was hank paulson, me and tim geithner.tephanie: you all had to work with the banks, and those bank leaders at a time and even after when mainstream hated the banking industry so very much. when you talk about bad actors or who weren't standup partners, what was it like working with the banks? ben: they were in a lot of stress at that point. there were a few who were stronger. obvious we and jpmc helped rescue bear stearns, for example. but a number of them were under a lot of stress. we're trying to find solutions. stephanie: i hate when we have to go to commercial! david: the good news we are coming back to ben bernanke he. we will also have tom keene. he will share his morning must read on bloomberg . ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our

jim paulson with wells capital management.ave a great weekend, guys. >>> dow component procter & gamble reported a sharp drop in quarterly sales but earnings were better than expected thanks to cost cutting. executives at the world's largest consumer products company are optimistic they say about a return to growth in the current quarter. >> there was a big currency impact but sales were a little bit weaker we're expecting them to accelerate, to get back to organic sales growth in q-2 and to strengthen in the back half. >> the maker of tide, crest, and other household products is shedding about 100 brands as part of its turnaround plan. shares rose almost 3%. >>> a couple of food deals are reportedly in the works. according to reuters, treehouse foods is in advance talks to acquire realcor, which is conagra's private label business. the deal will likely be valued at about $2.5 billion. shares of treehouse foods rose while conagra fell. >>> and kellogg is reportedly in advance talks to buy snack food company diamond foods for m

if you haven't heard, highway 24 is the steve paulson freeway. >> i have heard that. >> congratulations. >> we have mostly clear skies. higher clouds moving out of the picture, the lower clouds have returned. beautiful sunsets. thanks for the photos. everything rides up and over the ridge of high pressure system to the north will flat ebb the ridge over the weekend. 60 to 64 water temps are mild the warm, santa rosa 48, napa 52, 50s, 60s to near 70 for some. 40s for some. mill valley 52, bodega bay cool. very warm air aloft. still have to budge that out of the way. not much of a delta breeze. 39 up in truckee, 53 ukiah and 61 sacramento and monterey, everything going up and over the higher clouds have moved off. the low which came down from pacific northwest, went over us saturday and into southern california, four corners is backtracking, over baja, feed over the warm water. i doubt we get anything out of that. maybe high clouds. sunshine, warm for most, the fog has returned to the coast. 80s and 90s for some, 60s and 70s closer to the water. cooler into saturday. rebound on sunday, m,

stephanie: we have to point this out about john paulson.nd for being this extraordinary investor. john paulson existed for 13 years before the subprime trading and absolutely no one on planet earth ever heard of him, he clearly questioned in subprime but he was not a macro investing superstar. david: to sum of not involved in hedge funds, you cannot get a big return without a big risk. there is no such thing as a free lunch. when you have that big risk, sometimes it goes up and down. quite is it not that simple -- wise and not that simple? -- why is it not that simple? stephanie: you don't have to get a big return. funds are getting more ste ady. david, what i think you have seen as some of the people in this is a bifurcated market and some of the people look at the flows as activist hedge which have gotten crushed along the same line. no hedges and the market goes down 6% or 7%, what do you think will happen? by the way, the positions you are in are the same one as everyone else in the hedge fund hotel. lets fly apple and is something vall

matthew stephenson also testified, he said paulson shot at him several times when he was >> i could not believe someone just tried to kill me. they were not playing. someone tried to kill me, i have no idea what was going on. eric: polson is facing charges including three counts of attempted murder. kim st. onge will be there, follow her updates on twitter. elizabeth: ron paul testified in the trial of two of his former campaign staffers. cameras are not allowed inside federal court but we did catch up with ron paul after his testimony. prosecutors say his campaign staffers jesse benton and dimitri kesari tried to cover up payments made to kent sorenson for him to switch from michele bachmann's campaign. in court, paul said he would never pay for a political endorsement and does not believe anyone working for his campaign would do it either. eric: gun store owners in iowa are waiting to see the effect of a wisconsin lawsuit here. a jury there ordered agger guns to pay nearly $6 million to two milwaukee police officers. both were shot by a gun bought at that store. a gun purchased by a s

steve paulson. >> i just woke up. >> he's been sleeping in here. >> it's friday. rather warm as it not. >> yes. extremely. >> i agree. 90s yesterday for many, inland will be cooler for some coast and on the bay. fog is moving north and south, that will usher in a slightly cooler pattern. the higher clouds are moving out. cooler on the low, 57, 67 at noon, 70 today. still there's a few areas near 70. 47 at santa rosa. that sounds nice to me. other locations in the 60s, low 60s to upper 50s. the breeze continues to come

you let steve paulson come back. >> i'm glad to be back.ad visions of being gone for a while. >> may have been on a jury. i made it to 1 of the 12 jurors. >> you told the judge you are needed here. >> it's raining, i have to go. >> we have two systems, the first went by yesterday. i know, i see the rain. a couple 100 here's. that's associated with the low. that will give more rain, look how things are changing. started in the south bay and worked north. this is lining up. a little bit of rain. now be focus on the north pay a -- bay. 50s, 60s on the temps, looks like the rain will pick up rater, around 9:00 to noon, the second system

a state police narcotics unit to execute a search warrant of the hotel, they arrested 26-year-old paulson papillon. additional charges include possession with intent to distribute heroin and cocaine. bail was set at $10,000 cash. tonight on wmur we will be airing a special town hall event focusing squarly on the war on heroin and the crisis of addiction in new hampshire. tom: josh mcelveen was one of the moderators of the event and was was discussed. josh: amy joins me in this discussion, taking a look at the most important issue facing the state. we hear from doctors, law enforcement, students, and parents. a mother whose son has been in jail, but can' t get treatment. >> it is the perfect time and they are getting no help at all. >> i had a mother calling from south carolina. her daughter is in jail. i said don' t bail her out. the best thing you could do is not bail her out. let her meet with the counseling staff. >> they are not just going to be department of corrections watching tv. they are in programming. >> a funeral director who has worn a path to one address. >> we' ve responded

you can receive current weather conditions by downloading the weather app or if you listen to steve paulson. >> we may have rain, but not so sure. >> we looked good and not look good -- mics off? >> go to a live shot. we'll figure it out. >> go to a live shot of something. >> go to a live camera? >> go to sal. >> we're going to start off with a look at some of the freeways and going to start off with the weather, the traffic that is moving along well. as you are driving on the westbound bay bridge to the toll plaza it's light. the commute looks good coming into the city. looking at it 80 off to a good start. traffic is moving well. you can see traffic is looking good in the south bay. all the road censors are doing good. >> we have a lot of cloud cover and not much else. a little bit of rain in san jose. there's a little bit of the front left, it's more cloud cover than anything else. this is not a big deal. >> in the morning cloudy skies and a little enhancement on the back edge. you can see there's not a lot there. a cloudy morning, it will be sunny but cooler today. 60s and 70s on the te

jim paulson of wells capital management is on set with us.s is in the debate tonight, right? that it might feed into the insecurities that a lot of americans have about whether or not we're competitive or the chinese, like the japanese way back in the 90s, good, bad, whatever. how do you think about this when you see this kind of transaction possibly? >> i'm okay with it. i've always been more global free economics, and i fail to see how it's a risk to the united states or anything. if it really got bad, we could nationalize like other countries have done. we're never going to do thattings but the point is capital should flow freely. if that's where it comes from, they provide capital that provides jobs to the country, and -- >> the republicans are not sounding that way, though. >> i know, right? i don't have a problem it. i think if you do that, that, to me, is no different than government regulatory controls in this country, that reduces economic activity and reduces job and production creation. >> i wonder if it speaks to the chinese despe

we are talking about paulson & co. and the hedge fund manager. you mentioned about ones before the sweep. some of these funds also analyzed the legal case after they show the profits, right >> guest: the ones that brought before the government changed its mind are impossible to know. after words what people say it's a very fair point. this is in the way the system is supposed to work. they have a great line in the book. so it's like i said in a financial crisis if you came back and started paying and you were making your mortgage payments and i said i'm going to take 100% and it feels wrong. there is another great mind that i love in the book that came from the former executive and they said it feels anti-american and therefore people would argue that they were only as anti-american. >> host: sure. and do you feel like the involvement of the hedge fund has kind of complicated this issue as a result? >> guest: it's definitely complicated the issue. it's for a couple of reasons that has comforted the issue because it's meant that it meant that you

meteorologist steve paulson will be here with details and when other parts of the bay can expect to see that wet weather. >> also jokes and selfies but mostly praise at the white house as the u.s. women's national team visits president obama after winning the world cup this past summer in a match that became the most watched soccer game on american television. >>> in just over an hour the san jose city council will consider a proposal to crack down on people who illegally dump things on city streets. right now city leaders don't have a song way to discourage dumping. >> reporter: later this afternoon the city council is going to decide whether to change the language in its municipal code to prohibit illegal dumping and impose fines on violators. one of the areas labeled a hot spot is here near the campus of san jose state university. the city found that over the last three years illegal dumping has increased 75% and incidents on public property has gone up 50%. unwanted items such as furniture, appliances, and trash in general are dumped on the east and west side. first time offense wou

quarter, the salem qb uarterback makes an ill-advised throw to avoid a sack and its picked off by avery paulson, who makes a nice return into blue devil territory. that leads to a touchdown pass . justin grassini to tyler deneill on the far sideline tomahawks . that's when the flamethrowers came out on the track. it worked. 20-6, merrimack. a short touchdown run. salem winds, 37-26. londonderry played at spalding. nick donnoly caught four balls for 145 yards and a touchdown. portsmouth traveled down the road to hampton. the warriors coming off that huge win over pinkerton, second half, already 41-7 winnacunnet, michael lewis breaks free for a 37 yard score. portsmouth had a hard time stopping the run and could not move it very well. joey auger doing his best on offense. good gain for a first down, / but winnacunnet was just too good. liam mcnamara rips off a 4th fourth quarter touchdown run. dives to the far pylon, no let down for the warriors, winnacunet wins 55-7 bishop guertin and north playing for first place in the west. cardinals add to the lead, jordan hiscoe finds nick lorden, 38 yard t

mum, steve paulson has what's in store for the rest of the workweek? >>> it's been over a week since lamar odom was admitted to the hospital after being found unre- - unresponsive at a nevada brothel. coming up, the latest on his condition. babies who are talked to from the time they're born are more likely to have a successful future. talking and reading to children in their first years has a huge impact on what they do with the rest of their lives. the fewer words they hear, the greater their chances of dropping out of school and getting into trouble. talk. read. sing. your words have the power to shape their world. learn more at first5california.com/parents layover. 24 hours. hello, reykjavik. oh, so that's how you spell it. what are you looking at? oh, cool. hungry. fish, anyone? hello, seventh waterfall of the day. hello, duck boat. hello, sheep? oh right! itchy icelandic sweaters and no foreign transaction fees. sweet. one last look. ahh. triple points. and we're off. what's next? wherever the journey takes you, carry american express gold. it's

our steve paulson is here in just a few minutes with your bay area forecast. >>> former nba player lamar odom reportedly fighting for his life. where he was at the time he became ill and why an investigation is now under way. this is the dawn of an old day. because at&t and directv are offering yesterday's technology, today. tv from space. [whispered] space as long as it's not too rainy. [whispered] rainy or windy. [whispered] windy or there isn't a branch in the way. [whispered] branchy welcome to the moment no one's been waiting for. the fastest internet and the best tv experience is already here with x1. only from xfinity. alaska. finally. the search for brown bears begins. denali highway. low on gas. pit stop. fill up. double points. yep, that's cold. tired. day 2. coffee. eggs. double points. beautiful. majestic... nothing. where are you, bear? warm. warmer. warmer. yes. wherever the journey takes you, carry american express gold. it's more than a card. it's the gear that gets it done. . >>> it is back to the campaign trail for the democratic candidates for president after their fir

steve paulson can answer that. >> a southern california professor developing robots that can help in emergency situations. babies who are talked to from the time they're born are more likely to have a successful future. talking and reading to children in their first years has a huge impact on what they do with the rest of their lives. the fewer words they hear, the greater their chances of dropping out of school and getting into trouble. talk. read. sing. your words have the power to shape their world. learn more at first5california.com/parents ♪ ♪ >>> jeb bush is in the pay area today for a pair of fundraisers in san francisco and wood side as he tries to raise his profile against tom trump and ben carson but this week all eyes are on joe biden. >> hillary clinton puts her campaign on pause thursday as the democratic front runner heads to capitol hill for what could be the congressional show down of the year. the former secretary of state will be peppered from questions from house lawmakers about why chris stevens and three other americans were killed in a terror attack in benghazi

you know john paul southerning the hedge fund manager of paulson and company, as they have looked athe stock. icahn in his letter quoting the analysis done by the folks over there. >> a lot tougher, though, to get somebody to make a move like mr. icahn wants them to move. when the stock is basically trading at multi-year highs. it's still far, far cry from where it was prior to the 2008 deba debacle, but the stock coming up from 2011. it's a triple here. basically you're up at the highs right now with mr. icahn's boost today. that's a lot tougher to apply pressure to a board when that's going. >> we'll see how that all unfolds. european markets unfolding as we speak. in fact, they're closing as we speak. let's head to simon hobbs at the new york stock exchange. hey, simon. >> hey, scott. european stocks and bond markets are surging ahead of the fed decision. sweden central bank extending local qe as europe's smaller independent players seek to position ahead of the ecb, doubling down presumably on its qe on december 3rd. all of them wanting clearly to keep a lid on their own currenci

time to check weather and traffic. >> let's go back to steve paulson.> it's nice. it's on the cool side but it warms up. there is some fog but again it's mainly san mateo and santa cruz coast and some areas with sun. it's going to lift. a tiny bit made it on the marin coast but not a lot. high pressures are our fair weather friend and then we will focus our attention tomorrow on a system moving up from southern california actually off of baja. it's been all over the place in the last ten days and gave run to southern california and left and that will come back. 50s and 60s on your temps. had a few 40s up in the north bay. petaluma is in there. that is our system there. it's just beginning to move in toward san diego and l.a.. they could use the cool down. it's been smoking hot down there. lots of sun for us warm to hot expect for parts of the coast dealing with a little bit of fog. 70s and 80s by the water. 8:33 we've done okay unless something has popped up here in the last ten minutes. >>> today has been a better day than usual. some people don't have

let's go steve paulson for that. >> not much. i was nervous about it yesterday, there wasn't really any dynamics or jet stream support. it did bring some light rain, north and south. still have fog around. san francisco picked up a trace but i'll tell you, there wasn't much of the system. it stretched itself out. there were locations that picked up the amounts. we're almost done. could be a few guys left over but low clouds holding on. rain totals, covelo the leader of the pack. after that it tailed off. berryessa highlands picked up some. there was okay rain from verona park to santa rosa. up in the warm springs. fremont hills and blossom hills.04. what is going on right now? they're going the system. some lapses a minute and a half and two minutes and went through napa county now it is out in solano county. it there isn't much left. brend wood might be getting a little bit but this is really, really light stuff. don't want to forget santa cruz. i didn't see measurable amounts that amounted to too much. the system is moving out

steve paulson will tell us what to expect as we get closer to the weekend. >> another small earthquake the areas the same area where several quakes were reported yesterday. thousands of people across our state practice earthquake drills. . >>> former nba star lamar odom is still in a coma this afternoon at a las vegas hospital. his family and friends are at his bed side but the sprogs not good. >> -- the progress is not good. >> i have him on his side. >> still unconscious. >> i have white it looks like white stuff coming out of his mouth. bunch of white stuff coming out of his nose too. >> that was one of the 911 calls made from the nevada brothel where he was found unresponsive tuesday afternoon. the caller went on to tell the emergency dispatcher that he used cocaine and heshl sexual enhancement supplements. he has a history of battling addiction. former teammate and interim head coach luke walton says he is praying for his friend to pull through. >> he's been through a lot of pain in his life. more so than anyone else i've come across in my time here, and, you know, addiction can b

steve paulson will tell you what it means if you're planning for trick-or-treat saturday night. >> halloween means costume, costumes candy and commitment. why this spooky holiday is really all about love. this is the dawn of an old day. because at&t and directv are offering yesterday's technology, today. tv from space. [whispered] space as long as it's not too rainy. [whispered] rainy or windy. [whispered] windy or there isn't a branch in the way. [whispered] branchy welcome to the moment no one's been waiting for. the fastest internet and the best tv experience is already here with x1. only from xfinity. . >>> emergency crews are at scene of a deadly building collapse at a manhattan construction site. one person is dead and another construction worker trapped underneath the rubble is seriously injury it was an eight story building undergoing demolition when it partially collapsed. 19 people were working at the site but no one else was hurt. the cause is still under investigation. >>> now to the latest on the bay area shigella outbreak. they may never know the actual source of the illness. t

steve paulson is back. >> nice to be back.oyed the civic duty process. >> i said what is coming down from the sky. >> he said i'm stuck inside, i don't know. >> i had jury duty. they were very nice. >> i was looking at the rain out the window. speaking of rain. yesterday was south, and lifted up. never to the north bay. we had rain in bodega park. light rain in the park. this is the second system coming in. ukiah, clearlake is cloudy. light rain, down toward san

steve paulson is back. >> nice to be back. i enjoyed the civic duty process. >> i said what is coming down from the sky. >> he said i'm stuck inside, i don't know. >> i had jury duty. they were very nice. >> i was looking at the rain out the window. speaking of rain. yesterday was south, and lifted up. never to the north bay. we had rain in bodega park. light rain in the park. this is the second system coming in. ukiah, clearlake is cloudy. light rain, down toward san jose. you can see, we have two systems here. the secondary system is coming in. two areas of rain is intensifies. nothing too heavy. the band from yesterday is up toward placerville. the second system is moving in. 50s and 60s. not a lot of cool air. this is coming in now, the low has to move through late morning and early afternoon. cloudy to mostly cloudy. off and on light rain. i think it's just light rain. 60s and 70s on the temp. the rain is picking up. you and i are busy. i think it will get worse, i'll keep optimistic. let's see what we have now. traffic w

john paulson tripled his in the second quarter.busy in the health-care hedge funds. another couple hedge funds there are fundamental hedge funds, viking and brahman. know if those holdings are current because we the third quarter yet. i for 1 am looking for to that because it will be fun to see who loaded up on down and in the third quarter. for these things, so we cannot make definitive , but this gives you a good idea as to who might be performing better and who might be suffering major losses. you made the distinction that the hedge funds who bought the stocks are more fundamental based. scarlet: maverick, for example, and discovery. they had a huge position that they have been selling down gradually. here is the thing. bill ackman. i didn't see pershing square on the list you showed us. he is obviously invested. >> between 21,000,000-22,000,000 shares. scarlet: when did he first build a stake in valiant? was it when he was trying to get involved in the whole allegan acquisition? >> i believe that was when he tried to take his p

steve paulson. >> i just woke up. >> he's been sleeping in here. >> it's friday. rather warm as it not. >> yes. extremely. >> i agree. 90s yesterday for many, inland will be cooler for some coast and on the bay. fog is moving north and south, that will usher in a slightly cooler pattern. the higher clouds are moving out. cooler on the low, 57, 67 at noon, 70 today. still there's a few areas near 70. 47 at santa rosa. that sounds nice to me. other locations in the 60s, low 60s to upper 50s. the breeze continues to come down, there's nothing kicking in yet. slightly offshore at the oakland airport. the low, el paso is heading back toward southern california next week. something you don't see often. for us, sunshine, warm for most. there's more in the way of coast fog. 60s or lower 70s. 5:01,. >>> it's good. i was telling joe, one of the guys behind the curtain. it takes three cups of coffees these days. >> only three? >> three, i'm serious, i'm nothing without my coffee. you might want to tell me how many cups it takes you outwit ever. we start -- with -- usually at

over goldman sachs morgan stanley under pressure and we had to go i remember taking -- secretary paulsoned to them what we were going to do, and we were basically told well congress is not supporting this this is your choice, this is your decision, you are responsibility, and it was very, very tough. maria: and he held the bag for them former federal reserve chairman ben bernanke telling me about tuftest time as headed of the bank in 2007 in book fighting words for aig executives are joining me fox business network exclusive are former aig chairman ceo hank greenberg, and chairman david boies, bernanke there talking about 2008, from your standpoint, hank one of the biggest stories of the finance minister crisis, is how the government acquired aig and charging the company 14% interest rates. >> yeah. >> tell us about that. >> it was outrageous i was out of the company then. maria: right. >> out ragous to, overreach the way they did. that the only do they charge 14 and one half% interest but acquired 79.9% of the equity, that is where we challenged subsequently, because there was simply wr

the best thing is to go to steve paulson. >> there's a little bit of rain to the north. for most nothing. >> we were saying. >> it was and much there. maybe we'll get more this morning. we need it. right now things are quiet. free montz, -- fremont. there was a piece of energy that went through, that was last night. there's rain toward ukiah, over to lake county, bodega bay. a lot is not reaching. some is. that zipped by san jose and now it's just cloudy skies, there could be light rain. we're just about done with the system. 50s and 60s on the temps, rain pushing off toward the east and san jose, if something else new develops, there's a piece of energy but that will reenforce toward the men deseano coast -- mendicino coast. 5:02. any reports of anything on the commute here? >> no nothing when it comes to wet roads. traffic is moving well. we'll look at the commutes and you can see it's a nice looking drive around the bay area. san francisco, northbound 101. that looks good if you're going that far. the bay bridge toll plaza is light. a couple cars in the cash lane lini

paulson and company are also on the list of top folders -- holders, so this has not been good news forher. this could probably hold up. the index is higher than 4%. we have seen market gains steam, so have the biotech. one in particular, one of the best performers, this is a five prime therapeutics, this is a small company. but it did gain percent today -- 6% today. analysts point out, this is 80% of the market cap for this company. even though we are looking at pharmaceuticals and biotech do well in the hospital shares are not doing well. stocks. some of the hospital shares not doing well, on a preliminary basis holding onto these numbers at intraday. 8%percent of total visit -- of total visits a year, so in danger of nonpayment. this is raising concerns about what it will mean for the other hospital operators. downs down 5%, but it was earlier today. they are gradually coming down. betty: just you. thank you. bankss day three of big earnings, we got information from goldman sachs. citigroup boosting likets and it looks georgia bank will sell. we are going to talk to the founder of a

.>>> steve paulson is hanging out.>> i have a couple of things, and we have had sharks off of santa cruz all summer because of the warm oceans. but getting it in the bay is something we may never see again, and that tells you we have some really warm water. we are outside of the oakland right now, and clouds are increasing from the south. the fog is just touching the sonoma coast, and it will be in here tomorrow. the fog was thick across the golden gate about 4:30 am, and then all of a sudden it was gone. this will work its way up from central and southern california, and we will see this later on. he will be mostly cloudy tonight, and if we have shower activity it will be in the south bay tonight or tomorrow morning. it will be cooler as we go into friday, and know about it will be here over the weekend. and you were talking about the cubs. that is the first time they have ever celebrated a victory at home. in the history of the stadium.>>> that's why people were a little bit excited last night. watching social media, and they were posting pictures while partying in chicago.>>> and we a

paulson. 51 in lake portz. picked up .07. just had a shower. not a lot left. it zipped by. some lingering on. pushing over to glenallen. sonoma. not a lot here and we're about done. 50, 60s on the temps. to the south 50s and 60s. look for a cloudy morning and temperature in the 60s, 70s. sal, what do you have at 6:01. not 7:00. it's been a problem when an anchor switches. let's take a look at the commute. traffic will be busy at 6:01. look at some of the live pictures. bay bridge backed up for a 10 minute delay. the morning commute is looking good on 92 westbound. no major problems. if you are driving this morning on nimitz freeway, there was an earlier accident near high street, that's gone. traffic is going to be moving relatively well as you drive on 880 north and 580 west. 6:02. they told me but i almost forgot you alex. we had rain in the bay area but i didn't see anything where you are right now. >> you are correct. you are checking to make sure. >> you know that last minute look behind you to make sure. we're dry here in downtown petaluma. no rain yet here, some may

steve paulson you have been very busy. >> very busy week. >> those people behind you are busy too. >>aughter ] it was a little brisk. we do have mostly clear skies. some patchy fog out there. a little built of low cloud deck also left behind up in the sierra has had reports of truckee. it looks like the rain is done for now but the showers could pick up. for us 50s to start. low, mid to upper. any breeze, not really. i expect it to pick up a little. water temps 63. 61. 60. not too much change but i have inched up a tiny bit. there goes our low. the next one is coming down way from the north. end result will be a cooler breezy to windy pattern for us. today 80s a little warmer. 60 ann 70s by the -- 60s and 70s by the water. >>> the carquinez bridge drive to the maze sometimes on a tuesday let's just pick tuesday almost take more than an hour. this morning it's taking 40 minutes. it's a little bit better. when you get to the bay bridge toll plaza it's a 15 minute delay. we do have slow traffic approaching san mateo, highway 91 near 92. >>> this morning we are learning more information a

look at testimony of bernanke, paulson, geithner -- neil: geithner was new york fed president. >> bigimony -- neil: paulson was treasury secretary. >> obviously ben bernanke was fed chairman. you look at testimony in hank greenberg case which is sealed but i got my hands on it, they had no clue the train was coming down the pike until literally the last minute and they scrambled. neil: gary kaltbaum, the argument after the fact, this is where bernanke echoed this in prior speeches and conference and the like, look we were flying by the seat of our pants. we were melting down fast and furious. we were seeing what stuck. i'm sort of trivializing here. all of this qe and quantitative easing easing and buying up treasury notes and bonds and interest rates near zero today that was a means of propping up global financial system falling out of bed. in retrospect, do you think he was right? had he not done that we would be in deeper doodoo now? >> look i think there is no doubt something had to be done. he was guy who made the decision, but here is the problems. he is taking victory laps on a

they arrested 26-year-old paulson papillon. additional charges include possession with intend to distribute heroin and cocaine. bell was set at $10,000. >>> today is the day that granite state car enthusiast have been waiting for. the auto show begins at noon in bedford. for then't -- for the event. organizers say it is a great family event and a environment. 5:00 on sunday. >>> still ahead this morning, hillary clinton facing tough questions on benghazi. committee. >>> a special night for andy blacksmith. >>> and the victim of a vicious dog attack in bowe speaking out. hayley: good morning, new hampshire. it is 5:09. going up. with the breeze that's kicking up. the morning clouds give way to sunshine. more sun on the way for the weekend. >> i've lost more sleep than all of you put together. i have been racking my brain about what more could have been done. erin: 11 hours in the hot seat. democratic presidential front runner, hillary clinton, appeared in front of the committee. reporter: it was a marathon day. she was on the ho

it was a rocky september 4 a hedge fund firm, paulson partners fell 6%.to 6/10th of a percent. losses are eroding what has been a bright spot for the $18 billion for. it's not trying to recover -- it's now trying to recover. alix: analog devices are said to be discussing a possible merger. people familiar with the talks say they are still evolving and may not produce an agreement. it's been a record year for mergers and acquisitions in the semiconductor industry. cnet out hundred $10 billion in deals in 2015. scarlet: square filing for initial public offering in this hour. an initial offering size of $275 million. the mobile payments company was led by twitter ceo jack dorsey. that is your bloomberg business flash. last week, stephen major, the head at hsbc made a bold call on bonds. he cut his 2016 forecast of the treasury yield to 1.5%, predictably in the past two point percent. alix: what would this mean for equities and global growth? strategistal equity and global head of equities sector research -- ben, thanks for being here. what is the 1.5% yield

it has been on the rise, paulson rebounding from their second worst year ever.have seen returns fall and overall returns cut to just under 1%. so, more bad news for hedge funds, earlier this week we heard another group closing down their macro fund. and mark has more from the news desk. mark: the white house says about 90 service members are heading to cameron to conduct airborne intelligence surveillance and reconnaissance. it is one of several african countries battling the insurgent groups from local iran. president obama notified outgoing house acre -- speaker john boehner that troops will be sent. between russia and united states and -- are being attributed to russian hackers. the u.s. congress and new york .imes and a german steel plant reports from washington said that the president is again troopsending 5000 u.s. from afghanistan, he had planned to withdraw all servicemen from their before his term ends, but there are threats to security. theginny myers restaurants, hospitality group, including the union square cafe will illuminate the practice. this is