weeks ago at his university saying how much he was looking forward to coming back to take up his professorial duties once again. i think he is very conscious that he has a limited time frame. he would like to about out. of course, he may change his mind, but it seems extremely unlikely to me that he will take up this offer. >> thank you very much for that update. we have more on mario monti and his efforts to sort out italy a little later in the program. first, the european union finance ministers have held another difficult meeting today as they tried to tackle the european debt crisis. hungary was in the spotlight, and brussels issued a stern man to budapest to get its finances in order. >> if hungary fails, the european union says it will freeze almost 500 million euros in funds that are supposed to be given to the country next year. >> the most controversial issue on the agenda was the introduction of the financial transactions tax. nine countries led by france and germany are for the proposal, but britain and some other countries remain opposed to the tax. >> hungary's finance minister w

so this whole tax theory, which was the darling of the academic professoriate, it's simply not going to be -- it's going to be a nonstarter in the supreme court. i mean there may be some talk about it, but likely from the justices who are probably disinclined to uphold the law. disinclined to strike the law down, sorry. i said it backwards. >> hi, my name is james. i'd like to go back to the debate that wydra and barnett were having about what's left for the states. let's say this law is determined to be constitutional. is there any activity that i could do in my everyday life that could only be regulated by the states and could not be preempted by the federal government if this law is determined to be constitutional? i'd like to hear from both of you on that. >> absolutely. any activity that does not have a substantial effect on interstate commerce. you know, i think that what's important to note in all of these hypothetical, you know, broccoli, blah, blah, blah, you have to say, okay, what is the enumerated power that congress is using. how in the world is that regulation necessary

i really don't think that we should stop having people aspire to change that and i think it's professorial be a sucker cheery sure it's going to course kill off and that all of us were done but it was over a number of your drivel that's it i'm just getting to me to your we love you that's all we have time for thanks for tuning in do not forget that tomorrow we will have a founding member of the commodity customer coalition also an m.f. global customer who saw his account quote unquote vaporize yeah right he is going to recap everything that we didn't hear today and his hearing because basically executives said nothing and in the meanwhile don't forget to follow me on twitter at lauren lyster give us feedback on the show it you tube dot com slash capital account and for everyone here thanks for watching and have a great night. wealthy british soil the sun. is not on the right. market why not. find out what's really happening to the global economy with much stronger or no holds barred look at the global financial headlines tune into cars reports. coming to your social auntie hopefully cation

so this whole tax theory which was the darling of the academic professoriate and the smartest people i know have become hypnotized by the tax power theory, it is not going to be -- it will be a nonstarter in the supreme court. there may be talk about it but likely for the justices who are disinclined to uphold the law. disinclined to strike the law down. >> mining is james. i want to go back to the debate elizabeth wydra and randy barnett were having about what is left for the state. save this law is determined to be constitutional. is there any activity i could do in my everyday life that could only be regulated by the states and could not be pre-empted by the federal government if this law is determined to be controversial? >> any activity that does not have an effect on interstate commerce. was important to note in these hypotheticals, broccoli, you have to say what is the enumerated power congress is using, how in the world is that regulation necessary and proper to achieving that enumerated power and third do you need to pile inference upon inference to see the connection betwee

and the professorial staff loves him. number,, >> good morning everybody. let's get you caught up with some of the bay area headlines. we begin with crews that are monitoring the san lorenzo river next to the santa cruz boardwalk. the river has fallen from nearly 1 ft. of rain coming out of the mountains. the sentinel reports that flooding has already done thousands of dollars of damages. san jose apartment fire injured one firefighter this morning and felt through the roof into the burning attic. 17 people were displaced by the fire that is blamed on a candle. driving conditions on the sierra highways are hazardous today because of the snow. some resorts got as much as 27 in. from tuesday into wednesday. ski resorts expect to be busy over the weekend and some people hope for another 3 ft. of snow by saturday morning. >> march madness continues outside, wet and rainy weather around the bay area will continue on and off today. some fog is also showing up over the bridge. high-definition radar picks up some scattered shower

and the professorial staff loves him.of the professors, including professor ogletree. >> thank you so much. >> good to be here. >> reminder shall cbs sports of ncaa men's basketball tournament begins at noon eastern time right here on cbs. that does it for us. mid grade dark roast forest fresh full tank brain freeze cake donettes rolling hot dogs bag of ice anti-freeze wash and dry diesel self-serve fix a flat jumper cables 5% cashback right now, get 5% cashback at gas stations. it pays to discover.

and the professorial staff loves him.e professors, including professor ogletree. >> thank you so much. >> good to be here. >> reminder shall cbs sports of ncaa men's basketball tournament begins at noon eastern time right here on cbs. that does it for us. up next, your local news. we'll se,,,,,,,,,,,, [ female announcer ] introducing coffee-mate natural bliss. made with only milk... cream... a touch of sugar... and pure natural flavors. coffee-mate natural bliss. from nestle. >>> another nice day is taking shape on your shades if you have not peaked yet, marty is over at the first warning weather center. >> it is a super day, going for a high around 80, i could see us tying the record of 82 set back in 1990 today. sunny to start, partly cloudy through the afternoon. overnight showers. 53 your daytime high, back to 76 a mixture of clouds and sun and showers around. i think we move moisture out for st. patrick's day almost 70. 69 sunday. monday and tuesday 73 and 78 degrees. don, take it away. >> thank you very much. in the

. >> so professorial. will? >> you know, it is not a good thing or a bad thing.would say in john kasich, the governor's situation, he is using fema actually as it is intended to be used. fema is there to step in and coordinate activities when you have exhausted your state resources, when you have exha t exhausted, we will see what we can handle locally and on a state level if we run out, we will call in fema. he says we might call in fema. is exactly how it is intended to be used. >> in case you missed it, rush limbaugh apologized for his nasty, vile comments about birth control. "my choice of words was not the best" that would be slut, "attempt to be human roux, i created a national stir. i sincerely apologize to ms. fluke for the insulting word choices." here is the question, do you think rush limbaugh's apology sip sear? who should we start with? let's start with will. >> i hope it is, carol. i mean, it should be. we should be outraged what rush limbaugh said. his conversation has hijacked a legitimate debate has zero understanding around it, whether or not th