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there is an aggressive plan to reduce the bad bank elements of rbs. that plan is on track. but as i said to this house earlier i wanted to proceed -- see more done and rbs is reducing the size by considerably of its investment bank. and, of course, it's also had advice recently from the financial policy committee. had to take that advice into account. >> mr. speaker, if i understood the chancellor correctly, the profile of rising growth in announce today looks remarkably similar to the same profile be announced in 2010 which failed to materialize. that, of course, is one of the reasons he has missed the debt target. could he tells why we should anymore conference the next set of figures which show recovery albeit a sliver server years? all of the capital projects he announce today which of the many of us -- can he tell us how many of those will start this year? >> the first thing i would say to the right honorable gentleman is that the forecast we produce our independent. they are produced by the office of budget responsibly. so this is the obr's best as can i was going to

interstate 5 and 85 rb impacted. we're expecting to two to five feet of snow.oking at travel delays. moshing lows not as chilly. we're looking at low 40s toiw low 50s your afternoon highs will be into upper 40s to upper 50s, partly cloudy christmas eve, santa will have no problems chance of rain in the north bay, tuesday, christmas da day late afternoon evening, more wet weather wednesday, thursday. mike nico will be here and tracking the very latest with the live doppler 7 hd in the storm. >> thank you. >> coming up, a local bay area study finds we only need to get rit of a few drivers to speed up the commute for the rest of the us. >> and then new at 6:00 just in time for holidays bay area has become a major testing ground for same day deliveries. we'll have the story at 6:00. we'll be right back here. >> an interesting story on traffic. a study suggests asking a group of drivers to stay off the road is the better way to reduce rush hv÷=[ traffic by eliminating or delaying the trip to a small number of drivers, everyone else is travel time actually goes down.

and so i can really appreciate this a[pro-rb/] and thank you to the working group that put this together. it puts in place procedures and policies that make it easier for housing advocates and tenant communitis to navigate this process, but we know we can put what we like on paper and promise to follow it to the best our abilitis and commit to the law whenever necessary, but unless fund exists to support this work, what we say what we commit to is different than what we can do. many of those severely affected by this issue represent some of the more marginalized and disenfranchised groups in our community. so much of this work as you see requires also dollars outside of just writing this policy. in the past, supervisors the san francisco department of public health and environmental health division used to provide this kind of funding. this funding was used by the collaboratives and was spread very, very far and we used it for the last two years. unfortunately our ability to use this funding is coming to an end. so i would urge the supervisors to in considering what this policy actually

teams to over half 22 minutes with the central subway it will be cut down to six minutes. 35,000 jobs rb create over the course of billion dollar investment the project is fully funded with the acquisition of the fully funding grant agreement on obligate leepth whereby 1,122,000,000-dollar have been pledged by the federal government to construct the federal subway and this is a schematic that shows how the grouting tubes will be installed with the anticipated grout that will help counteract any proposed building movement if it was to occur this is a grouting away ray for the under cropping of the existing tubes at noter and market. this is the proposed grotting away next to the proposed chinatown station, similar grouting a away ray for the you know street market station, and proposed build protection for the -- station and this represented three of the repeatedly acquired agreements that we have received that are removed from your action today and that completes my presentation thank you. >> thank you colleagues any questions to the m ta okay seeing none let me ask are there any members

receivers making great plays, tight ends and rbs and marshawn lynch and robert coming in to be a change-up. the coaching staff doing a great job of calling great plays when we need them. >> michele: this kroed is notorious for being the 12th man. what kind of impact to you think the fans and noise had on this gauge? >> the fans love us so much and bring so much energy to our football team and keep us in the game, obviously, and keep us alert. >> michele: congratulations on the win, russell. >> thank you. go hawks! >>> richard sherman, what a night 37 blocked field goal attempt and ran it back for a touchdown and interception in the second half that was huge. how do you explain your big performance? >> i have great teammates and great coaches that kept us. they did a great job. game planning and i took advantage of my opportunities. >> michele: pete carroll is known for the way he coaches defense backs and you guys were thin tonight in the secondary. how did he get so much out of you in spite of that? >> we have amazing depth. byron maxwell and jeremy lane, they are great players and they c

>> after this, rbs was also implicated in the scandal, and in the new year, due to be fined more than its rival, barkley's. >> for more on today's finance, i spoke to felix from reuters, who joined us from new york. a is by words and -- by far the worst offender, but it is not the only one. can we expect more revelations? >> we can expect more. a dozen or more involved in one way or another, and u.b.s. was working in concert with a number of brokers, so this is a huge scandal, and so far we have only had the dell's from two banks -- barkley's and u.b.s. and -- had details from two banks -- barclays and u.b.s.. what we thought was a scandalous tale, u.b.s. is making it look like nothing, so who knows what might be coming next? >> we hear a lot of jargon, but what does this mean for us? what impact does it have on our ability to get mortgages and car loans and things like that? >> basically none. the manipulations were small. traders would make for a rate go up or down a bit, just a few hundredths of a percentage point. that could make millions of dollars in trading. , so what they did

ben tracy, rbs news, napa valley. >>> coming up after your local news on "cbs this morning" more on then the south. we'll have live reports from alabama and indiana. plus, an eye-opening look at how your smartphone is collecting information about you and gale king sits down with legend buddy guy, a recent kennedy center northernee. that's the cbs morning news for this wednesday. have a great day. -- captions by vitac -- www.vitac.com good morning. it's december 26-th. i'm brian hackney. frank mallicoat >> your realtime captioner: linda marie macdonald >>> good morning, it's december 26, i'm brian hackney. frank mallicoat's wish for christmas was to have the morning off and got it. >> yeah, i'm michelle griego. let's check the weather with elizabeth. >> we got a whole bunch of rain yesterday and it's still sprinkling outside. you can see cells moving over parts of the bay area so grab an umbrella. it's going to be like this scattered showers throughout the morning. in fact, the rain has caused some flooding concerns on the roads as well including 121 shut down both directions near highwa

democrats have won a resulting parliamentary election victory putting the former prime minister shinzo rb back in office he spoke of a huge task ahead promising tokyo won't concede a millimeter of what he called japan's islands to china and vowed not to give up in the dispute between them was last prime minister for a short time between two thousand and six and two thousand and seven this time he won in a landslide with almost three hundred seats. president obama has said he will do everything in his power to prevent more mass shootings as the first funerals for the victims of the newtown school tragedy begin twenty children ages six to seven and six adults were shot dead on friday when adam lanza went on a rampage with an assault rifle the twenty year old had killed his mother prior to carrying out the massacre he later turned the gun on himself the tragedy to support calls for tighter gun control laws including a ban on military grade assault weapons. reports that huge amounts of gold are being flown out from afghanistan according to airport staff most of it is heading to the by which i

japan, australia, rbs is part of their markets. that gets you back to where the u.s. is now. you have an outstanding mortgage stock in the united states. some of this data is a little bit dated from 2012. but it gives you some snapshots about where the delinquencies are. something like a quarter have an underwater nature to the mortgage. there are still some challenges outstanding in the markets. where is the credit going to come back into the system outside of the fanny-freddie model? there are lots of calls. you hear from jeb hensarling. fannie and freddie and the fha have to be drawn back in some way. how do you do that? this provides at least some of the basic high points of where is it that the private capital is going to come from. if you have a pension fund, you put that money into the u.s. housing stock market. do you lend that to borrower? do you want to loan money to people at 4% to buy a house? the government may be doing that. the private markets say they will put the money somewhere else. kind of japanese product. the liquidity it moves pretty quickly. you'll sta

receivers making great plays, tight ends and rbs and marshawn lynch and robert coming in to be a change-up. the coaching staff doing a great job of calling great plays when we need them. >> michele: this kroed is notorious for being the 12th man. what kind of impact to you think the fans and noise had on this gauge? >> the fans love us so much and bring so much energy to our football team and keep us in the game, obviously, and keep us alert. >> michele: congratulations on the win, russell. >> thank you. go hawks! >>> richard sherman, what a night 37 blocked field goal attempt and ran it back for a touchdown and interception in the second half that was huge. how do you explain your big performance? >> i have great teammates and great coaches that kept us. they did a great job. game planning and i took advantage of my opportunities. >> michele: pete carroll is known for the way he coaches defense backs and you guys were thin tonight in the secondary. how did he get so much out of you in spite of that? >> we have amazing depth. byron maxwell and jeremy lane, they are great players and they c

the rth could be primed for another rb. he thinks this is a good sign. we look at the rth and he is encouraged that there is enormous adversity here. apparel retailer limited brands. that suggests that the retail sector should remain resilient. i was worried that we didn't close above 45. my view, though. i'm more concerned about the fundamentals here and i worry more that we could have situations like the gap today. wal-mart missed it's quarter. i'm more concerned about that. i got -- that is another channel i can. there are plenty of real worries out there. in this grim environment you can find sectors that are holding up better than you might think. the pull back in retail might be just the moment that you want to pull the trigger to this key sector index. wouldn't that be something? stay with cramer and we will be right back. >> coming up. something is brewing. but could concerns about it's moving to tea mean it is time to layoff the caffeine or is this your chance to fill up your cup before the shares get percolating? cramer is grinding through the

losing, 118 1-rb 15. >> sitting in the office waiting to speak to them and i'm watching nba tv and theyhrow to steve nash, and said, what's the -- what do you guys need to do? steve nash said, we need play with the spirit that the warriors play with. they're unselfish. they play for one another. and i'm not going to lose sight of that. >> mike: sometimes spirit doesn't win games. college hoops, snooped hosted by tennessee and the lady cardinal had too much game. pat spokesman schmitz on hand. one of the greatest ever in the sport, probably thinking how to stop chiney ogwumike with the left hand. stanford up 12. sect -- second half their most but ogwumike there. stanford now 11-0 with the 73-60 victory. for the men, cal hosting prairie view. >> ama: out of texas. cobb, two of his 14 right there. crabbe led cal, and he loves the jam. cal shot 50% from the field, win 85-53. usf facing san diego state in hawaii. dons off to a good start. but it ended quickly. san diego state lit them up for 33 points, san diego state 10-1, dons fall, 88-58 the final. this sports report brought to you by riv

because she's so ill, and rb spending days in the hospital, the couple felt they had to tell the worlde has is called hyper emisies gravidarum. >> this is unstoppable throwing up, you can't hold any fluids or food down, some cases hospitalization is require ootd news sent off a frenzy, consuming not just british media but world media. >> speculation now turns to the baby's sex and name. >> we think it's going to be a girl and if it is going to be a girl elizabeth is the 8th favorite. who better to name the baby than after her math city, the queen? >> the parliament is moving to scrap a centuries old law putting male heirs ahead of their older sisters. the first time, whether the baby is a boy or a girl, he, or she, will be a few tour king, or queen. abc news, london. >> still ahead a remix of the top hits and a vinyl cat are hottest you tube video autos this picture caught the nation's attention. a follow up on a homeless man given a pair of boots by a new york police officer. >> a flash mob helps to bring a mile to -- smile to a teacher battemming cancer. >> from our camera, we can se

. >> outpouring of4)&rb support.and i think that must have given them encouragement and made them feel perhaps more positive and excited about the whole thing. >> in a sign kate is getting better you can see the prints's beaming smile after spend spending six hours with his wife last night. the palace released a statement saying the duchess of cambridge is continuing to feel better but will remain in the hospital to be treated for acute nausea. positive signs the royal couple isn't out of the woods just yet. >> a reality television star offering her advice to kate. nicole snooky told reporters the duchess should enjoy the pregnancy and be excited. she is best known as a hard partying member of the "jersey shore" cast. also advising the duchess to enjoy the first few months. >> snooky, nowohjÑp life coach. soon, you'll be likely seeing more starbucks coffee houses. the coffee giant announced today it's planning to open more than 3,000 new cafes in the u.s. over five years. the company says it will renovate thousands o

losing, 118 1-rb 15. >> sitting in the office waiting to speak to them and i'm watching nba tv and theyhrow to steve nash, and said, what's the -- what do you guys need to do? steve nash said, we need play with the spirit that the warriors play with. they're unselfish. they play for one another. and i'm not going to lose sight of that. >> mike: sometimes spirit doesn't win games. college hoops, snooped hosted by tennessee and the lady cardinal had too much game. pat spokesman schmitz on hand. one of the greatest ever in the sport, probably thinking how to stop chiney ogwumike with the left hand. stanford up 12. sect -- second half their most but ogwumike there. stanford now 11-0 with the 73-60 victory. for the men, cal hosting prairie view. >> ama: out of texas. cobb, two of his 14 right there. crabbe led cal, and he loves the jam. cal shot 50% from the field, win 85-53. usf facing san diego state in hawaii. dons off to a good start. but it ended quickly. san diego state lit them up for 33 points, san diego state 10-1, dons fall, 88-58 the final. this sports report brought to you by riv

rbs is declining to comment on the report. you look at the fines that ubs, rbs, everybody else is going through. it's not costing any of them their management, is it? i'm just rethinking back to barclay's. >> right. right. >> barclay's were the first to go and say there's an issue, fess up, management gets cleaned up. everybody else coming later, same scale. >> so true. although everybody else has been restructuring significant shake-ups. >> i'm just saying, what a mistake for barclay's tactically to try and get ahead of it, right? >> yeah. >> if they had just sat back and said we'll wait -- >> they did get leanance when it came to the fine. >> yeah, but it cost the management. >> well, maybe that is wa -- >> management tactic point of view, clearly got it wrong, right? if they had just sat back with everybody else, they would have been the same fines. politics, right? >> absolutely. ubs has launched a setback against banking regulations. the fts clearinghouse will make the report of a global liquidity requirements. lenders wi

rbs securities managing director and senior economist has some points on the stock. will you change your gross domestic product forecast if there's a deal on the fiscal cliff? having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. liz: the fed announced a new round of bond buying today, but we are not ramping it up. we are not ramping up the stimulus. still announced a new bond buying plan. are those the price is good for the economy? managing director and senior economist michelle girard in the hot seat. let's separate the market and the economy. right now we will talk about the economy. falling later with enough time to listen to what he was saying. nevertheless is anything you heard today good for the economy? >> will it help the economy, i don't think so. not that there isn't enough dollars in the system, interest rates are low enough, obviously the fed is taking acti

where 90 plus percent of the cases are male to female hetero transsexua transsexual-- transmissable is rbs it is part of human nature, people take risks or even people don't understand what the risks are. and that is a tough nut to crack when are you dealing with it. that is the reason why educating and getting people to be tested, to identify whether they are infected or not and to counsel them if they are not infected and get them into a care treatment program, if they written effected is so terribly important. >> a lot of reasons to be encouraged and a lot of challenges ahead. dr. anthony fauci thanks for joining us. >> you're welcome. you can see my interview, how to survive the plague. plus we ask journalist john cohen to take stock of the latest aids development. >> brown: and that brings us to the analysis of shields and brooks-- syndicated columnist mark shields and "new york times" columnist david brooks. so david, where are we on this cliff, over, under, sideways. >> we're going backwards. i guess that is a good thing. >> backing away would be good. >> we're going towards the cli

someone in the last name of skidly bop doop-whop and she high fe nates, her new name would be -- easy rb right? what i want to know is what would compel somebody to change his name to something like that? my first thought, maybe he's a cab callaway fan and wanted to pay homage to the scat song. ♪ >> or possibly, he's a david lee roth fan. his name does sound like the break in that song "just a gigolo i ain't got nobody." ♪ ♪ i ain't got nobody >> it's possible, possible. or maybe mr. bop bop is just a really big hanson fan. ♪ mm-mmm bop mm-mmm bop mm-mmm bop ♪

host: the thing i want to ask you rb you, interesting to me, "new york times" article came out november 4 by james miller. how much impact has that had on your book tramples -- travels. do you finds everybody has read that? guest: i heard from friends and relatives and folks i had not heard from in years. but no, people might say nice article in the "new york times" and i would say yes, i appreciate it and pretty well told. host: talk about the money side. that you had an advance of $200,000 and that you, over a nine-year period needed more money. how severe was that? guest: well, again, over the last eight or nine years a lot of people in a lot of jobs with a lot of goals chasing a lot of dreams are doing whatever they have to do and that is the america we have lived in the last six or seven years. and i wasn't going to quit so we did what we had to do. and it gets stressful at times. but again there is a goal, there's a dream. there are people, the publisher, the readers, churchill, manchester, who i can't let down, can't afford to let down. so, i -- host: is there a promise that ther

the house rb re-elected republican so all we're going to do is go back to where we were the last timee were head to head and offer an $800 billion tax increase but we're not say wrg it's coming from and we're going to throw in some tax cuts for the rich besides. the white house came back late this afternoon before we went on the air, about five minutes before we hit the air and said, no deal. this is no deal because all it is is more breaks for the rich. it's not giving anything on what this election was about. so where are we at? >> we're nowhere. boehner keeps saying we offered revenue. just like before the election they won't specify where the revenue comes from. are you going to go after the deductions for health care. sock it to the elderly and the tax treatment of medicare. they won't be specific. they say the white house won't be specific. i think lindsay graham is probably right, we're not going to be able to get a deal by the end of the year because each have staked out negotiating positions that the other cannot possibly accept. >> i don't believe this deduction thing. i don

as an aggressive plan to reduce the bank elements of rbs. the plan is on track. as i said to this house earlier want to see more done and rbs is reducing the size quite considerably of its investment bank and of course it's also had advice recently from the financial policy committee. i hope it takes that advice into account. >> alistair darling. >> mr. speaker, the profiler pricing growth today looks remarkably similar to the same profile in 2010, which singularly trailed to materialize. is that one of the reason businesses that target. is there any reason we have more confidence the next set of figures which so recovered the ball to capital projects he announced today, which many support. can you tell us how many were actually started here? >> the first thing i'd say to the right honorable gentleman is it's produced by the budget responsibility. so this is the lpr's has to happen to gdp over the next two years. of course the reason why the forecast a few years ago were wrong was due to three things. one is the impacts of the financial crisis. second, there is a

. >> you could have fully nationalized rbs and then done what you like with it. if banks have to hold more capital, there is less money in the system. it seems to be a fact that politicians don't seem to recognize banks have to hold more cash, there is going to be less money in the economy. >> with the greatest of respect, we've got member of our financial policy committee, the committee at the bank of england that oversees financial stability who have said that is a bit of a red herring. and if that were the case, they wouldn't have seen the bonus paints that we've seen in the financial services sector as a whole during the time that they're supposed to be repairing their balance sheets. so i'm not sure i totally accept that. >> all right. thanks very much indeed for joining us. we'll take a short break. still to come, citigroup has shed 11,000 moves. will the shake up be enough to get the bank back and boost its share price. we'll discuss. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be singing too!

fiscal issues are resolved, i think the statement the rb after the has given us today probably puts them in a good position to be able to move policy higher if they have to next year in response to higher inflation. >> so what happens to the aussie dollar now? >> well, as i said, i think that the issue that we have going into year end is the fiscal cliff. we think that it won't be resolved quickly, and we think that it will weigh on financial market confidence. it also will see people's expectations of u.s. growth for the first quarter of next year be revised lower. i think overall that environment is one where the u.s. dollar strengthens and where risky assets don't did well. so we think the australian dollar will fall from here into year end. >> all right. good to see you. thanks for that. shares in singapore olam moved higher. olam is trying to counter the muddy waters report which has accused of firm of improper accounting. while the issue was meant to shore up confidence, short severals told cnbc it signals just the opposite. >> actually, we view this debt offering as a clear victor

i think the reason they've got evegotgot t-rb en involved is because they have seen things happeningare concerned about leadership. and they are only concerned with leadership elected democratically. whether or not we like what they did or not they were elected democratically, but i think their in a quandary. they don't want to see people killed, they don't want to see this hugely rupg huge huge rerupgs over there. eruption over there. i think they will follow the civilian leadership, and they want that leadership to follow the people. bill: good to see you in person. >> thanks for having me. martha: to colorado now. it was no ordinary snack, some college kids brought brownies to share with their class, fortified brown he's you might say and now they could be facing assault charges. i kid you not. bill: unbelievable details emerging from an attempting carjacking after the victim learns the would-be thieves who threatened her were armed and that is not all. >> i was afraid that when i drove away that he was going to like shoot my tire or window or something. like i didn't think that i

. >> and also it's the "wall street journal" reporting rbs may be the next bank. we have two down but probably several more to come. it was comments -- i've got the report from the fsa, a 40-page document. some of the comments that are getting focus, i think we can show a few. it's extraordinary. and again, coming after some of the things we heard from barclays. perhaps even more egregious. one trader saying to a broker -- you can read, "you keep 6s unchanged today. i will [ bleep ] do one humongous deal with you like a 50,000 buck deal, whatever. i need you to keep it as low as possible. if you do, that i'll pay you, you know, $50,000, $100,000. whatever you want. i'm a man of my word." more commentary that illustrate over time a level -- this was an institutional practice. it wasn't a one off trade here that's being focused on. >> no. >> this was something going on for quite sometime. >> it was done over a number of years. it wasn't just ubs. i know ubs may have been a central role. you know, they may have been, you know -- the bank that actually started manipul

japan, australia, each of these will show you a little bit that rbs was part of their securitizationkets and where it was coming from. tickets to back to where is the united states now. if you want to go to a laboratory and think what is the optimization system, you cannot do that. you have some outstanding issues. delinquencies, defaults, some of the data is a kid from earlier in 2012. it gives you snapshots of for the delinquencies are, or something like one quarter of the residential properties have some sort of underwater nature to the mortgage. there are still some challenges outstanding in the market. the key is, where do you get new credits from? where will they come back into the system outside of the fannie and freddie model? you hear it from both sides of the political aisle. they agree, at fannie and freddie have to be drawn back somehow and some way. how you do that, that could be a decade-long question that we will continue to answer at a political level. this provides some about where is it this capital will come from. one of the key questions is, if you are a pension f

as modified -- i want to thank senator blunt for working with us in cosponsoring the amendment stk-rbs to basically -- is to basically take what we have done and passed in the farm bill and putting it into this very, very important disaster assistance bill. in the spring we experienced late freezes that wiped out many fruit crops in a number of states, including michigan, new york and pennsylvania. in my home state we had a 98% loss of cherry crops. and they don't have access to any crop insurance. we're talking about those who don't have that option to be able to help mitigate their losses. in the summer we saw the worst drought since 1956. it left crops withering in the field all across our country, over 80% of the contiguous united states experienced drought conditions. 11 states still have exceptional drought conditions and 17 states with severe drought conditions. i can't imagine having a disaster assistance bill come through this senate without including help for our farmers and ranchers who have been hit so very hard this year. i urge colleagues to support our amendment and than

arab-american children and girls who were being harassed or attacked with, wearing their traditional tkpwa*rb -- garb, he called up leaders in michigan to tell them that they had his support as a japanese-american, knowing what he had gone through at a very difficult time in our country's history. he showed incredible support to a great part of michigan. he's beloved by so many around michigan, but no more than those who are in the arab-american community who are business leaders, community leaders, who found themselves, just because of their heritage, in very difficult circumstances, he has shown great support to them and was a great role model to them. and so i was proud to be a part of honoring him a few years ago in michigan with the highest award coming from that community. he touched lives everywhere he went. he served with quiet dignity, had a strong, firm conscience. he set an example for each one of us. it was a true patriot and a true american hero in every sense of the word. the united states senate and the american people will miss him greatly. and my thoughts and prayers are with