. >> richard schlesinger takes a look at what happens in this 48 hours preview. working the night shift near washington d. c. in october 2013 when mark wau a promising 23-year-old law student was stabbed to death in the tiny apartment where his friends raul gupta a grad student and gupta's girlfriend, taylor gold a biomedical engineer lived. they started the evening bar hopping but ended it in police custody. >> here, can you hop up for a minute? >> detective paula hammel thought it would be an open and shut case because gupta told officer skeba that he did it and why. >> i caught my buddy and my girl cheating. i killed my buddy. >> as gupta sobered up he changed his story, now insisting he had no idea how mark wall was stabbed. >> i did not attack mark. i just want to put that on the record. >> and strangely though taylor gold insisted she didn't remembered she couldn't say for sure it wasn't her. >> did you kill mark? >> i don't think so. >> after hours of questioning detective hammel brought them together. >> i did not stab him. >> i don't think i did either.

richard schlesinger of 48 hours has the story of blood in the sand. barbara nantsse was found murdered on torrey pines state beach. >> my dad looked at me and said your sister's been murdered. i didn't find out until years later how bad it really was. >> barbara had been camping with her boyfriend, jim alt. she was sexually assaulted, beaten, strangled and mutilated. he had been severely beaten and was in a coma for days. >> this was a serious life- threatening attack. >> yes, sir. i almost did not make it. >> six years later in august 1984, 14-year-old claire huff was found murdered on the same beach. claire's best friend kim jamer had been with her a few days earlier. >> i think about her just about every day. she was my best friend. >> the cases grew cold until 2012 when advanced dna testing blood was linked to a convicted rapist named ronald tatro, but the other dna, a microscopic amount was linked to a man named kevin brown. he was a former criminalist in the san diego police lab. rebecca brown insists her husband was wrongfully accused. >> my hu

jill schlesinger in new york. >>> now, favorite subject. breakfast.ucks will add to the inventory of breakfast sandwiches and other food items. >> my tummy is growling. it is part of their plan to get more customers in during slow times of the day. the strategy seems to be working. profits rose 16% in the first three months of the year. >>> president obama has wrapped up his final visit to britain as president. >>> democrat donna edwards knows what it's like to struggle. raising her son alone. going without health insurance to put food on the table. but donna persevered. then she put that strength to work for us. protecting women from domestic violence. taking on the nra. jerecting wall street's cash. powerful interests don't want democrat donna edwards. that's a powerful reason why we do. women vote! is responsible for the content of this advertising. jane loves to treat herself. so she loves new light & fit crunch. greek nonfat yogurt with delicious toppings like chocolate and almonds. now that's a treat! light & fit crunch. feel free to enjoy. >>>

cbs news business analyst jill schlesinger reports. why don't you like tax refunds so much?k of it as found money. i like to think of it as the return of a year-long interest- free loan that you just made to uncle sam. how about adjusting your withholdings so you don't get a refund next year? i know that refund is burning a hole in your pocket but your first priority is to replenish your emergency reserve fund. we are trying to keep 6 to 12 months of living expenses in a safe place like checking, savings or cd. then pay down consumer debt, credit debt, student loan debt. when you pay off these loans you are earning a guaranteed return that is so much higher than anything available out there in the investment environment. >> so what if you have those covered? then can you buy the expensive purse? >> reporter: um, no. how about we try to boost your retirement contributions? and that way you know what's cool is that if you adjust your withholding and boost your retirement contributions you're probably going to pay lower taxes next year. you can fund your traditional roth ira in

>> hitched schlesinger joins -- richard schlesinger joins us. such a good tease.curred to us, too. it's such a complicated case, and the dna evidence you would think would help. that just raised more questions which we'll get into. the police were convinced that these two cases were connected because of the similarities in the crime. wait until this unfolds. >> what's the big question here? >> the big question is how c this mild-mannered criminalist hooked up with a violent rapist. there was no evidence that they d. the police spent a lot of time looking into that. i'm not going to tell you how it turns out. >> maybe the criminals like to go to the strip clubs -- >> yeah. interesting. you can watch "blood in the sand" tomorrow on "48 hours" on cbs. >>> next, "you'all that matters" yeah. we love low prices. no bones about it. [ laughter ] thousands of blue tags. thousands of low prices. my giant. hey mom, i could use some basil. oh, sure thing, sweetie. life is eating out of a flower pot. wait where's the? right. it's being a food paparazzi. ho

all right, jill schlesinger. thank you. >>> time is 5: 40.tes are throwing jabs and they will be in california in just a few weeks. what they will have to do to win our vote. >> and let's take a live look at 880 in oakland. traffic is moving along nicely. we are going to let you know where the other hot spots are in the bay area when we come back. ,, ,,,,,,,,,,,,,, (chanting) >>> showers thursday morning focused on the south bay after just a little bit of activity overnight. it will all move south out of the bay area and changes coming this weekend. we'll detail it in the forecast in just a few minutes. but first, here's the latest. [ chanting ] >>> more violence at a recent donald trump rally. police came in riot gear this time in pittsburgh, pennsylvania. trump protestors and supporters faced off outside a convention center. police even used pepper spray. all eyes will soon be on the california the first time in decade that california voters could play a major role in deciding who could become the next republican presidential nominee. >> he

cbs news business analyst jill schlesinger tells just this awkward subject is one we have to face. now, jim, prince died without a will. what happens now and what lessons can we learn, jill? >> reporter: this is called dying intestate. when you don't have a will, the state, in this case minnesota, determines what happens and who should get what. you can imagine giving the size and complexity of this estate that this is going to be a mess that will take years to sort out. but there's a lesson here for all of us. don't let your fear of dealing with the estate process stop you from taking control and reducing the potential for future controversy. you know what? at the very least, write down an outline of what you would want to happen to your assets in the event of your death. i would much prefer hiring an estate attorney to do it the right way in accordance with state laws. but having something basic in place is certainly better than nothing. >> okay. so explain to us what exactly a will is and are there other documents that we need? >> well, a will is a legal document and ensures tha

jill schlesinger has the tips. what age should you start?s say our money habits become formed at age 7. so start talking at say between ages 3 and 5. that's when you're identifying coins and their value discuss the difference between something that's free and hey you're going to play with a friend, that's free. and hey that ice cream cone, that costs money. you want to introduce the concept of work and the idea that you may have to wait for something you want, that's probably good messaging for all of us. >> no kidding. >> that's true. that's a great message. what should we focus on when kids are in elementary school? >> reporter: well, this is when we start talking about allowances as early as age 6. experts say the allowance should not be based on household chores. rather, just choose an amount based on what you already spend on some small discretionary items your kids like. maybe a toy because they like it but they don't need it. then you make clear, hey, this amount of money that i'm giving you, it replaces what i would have been spendin

cbs news business analyst jill schlesinger warns us how our vices can make things go badly. what's the root of our poor investment performance? >> reporter: i blame it on being human beings. it's terrible. because behavioral economists say that we "suffer" from two specific biases when markets are going up. number one, overconfidence in our own abilities to pick winners. and two, optimism which wednesday many of to us believe that we -- which convinces many of us to believe that we can outperform the market. that's not true. over the last 20 years, the average stock mutual fund investor lagged the s&p by, get this, 4.7% a year. wow! we really stink at investing! [ laughter ] >> what holds us back and what can we do about it? >> reporter: we're talking about when markets go up. but when they go down we suffer from something called loss aversion. that prompts us to blow out of the market at the worst possible time. not to mention that when everyone else is selling, there's something called a purging effect. that's when we do what everyone else does. you know your mom told you

here to explain, cbs news business analyst jill schlesinger.e these plans and what do they say about banks? >> they are known as "living wills," and if we were approaching failure what would happen? and the banks are submitting these reports to the two main regulators, the fed and the f.d.i.c. what they would say is if we were approaching failure what would we do without crashing the system or needing tax assistance like lima needed in 2008. >> glor: bernie sanders has taken criticism for not fully explaining it in parts but did any company pass this test? >> not exactly. three big companies, goldman sachs, morgan stanley and citigroup. all have deficiency that they have to address. that said, a lot of organization he are looking at there and say this is a plan for failure. these banks are in better shape than they were eight years ago. they have more capital, have less borrowed money and their liquidity, the ability to access money is much better. when we look at the public's trust in financial institutions, it's an all time low of 8% now. >>

. >> i'm richard schlesinger from "48 hours." long suspected killer, a former priest s in custody. will new evidence lead to a conviction? that's coming up later on "cbs this morning." ♪ announcer: this portion of "cbs this morning" sponsored by claritin. nondangerousy. live claritiea every day of your allergy season. claritin provides powerful, non-drowsy 24 hour relief... for fewer interruptions from the amazing things you do every day. live claritin clear. trust safelite. with safelite's exclusive "on my way text" you'll know exactly when we'll be there. giving you more time for what matters most. (team sing) ♪safelite repair, safelite replace.♪ and the nra to pass the toughest gun safety legislation in the country. i'll take on the tough fights to expand social security and keep the doors open to planned parenthood. my mom is so tough she's willing to fight anyone who's going to pay him more than us for doing the same job. i'm joseline peña-melnyk, and i approve this

jill schlesinger is here with what you need to know before you retire. good morning.eople get freaked out and say oh, my gosh, i have a mortgage going into retirement. as we see from those numbers, that's pretty common. it's accelerated after the financial crisis. i don't think people should be so perplexed about this problem, because frankly, i'm more worried that they're spending the available money they have to pay down that mortgage instead of actually keeping it liquid. you never know, you pay off your mortgage, you lose those dollars, you might have a health issue, you might need that cash. don't be so excited to pay down that mortgage. in this day and age, paying down a mortgage before retirement is a luxury, not a necessity. >> what about rent to buy, it seems like that's a good question at any age. >> i think for a lot of people the idea of not having to take care of a house is so alluring, right? oh, my gosh, i call the landlord, the boiler busts. the problem that a lot of people forget, though, is when you rent you could be subject to rising rents in the fu

jill schlesinger, thank you. >>> coming up, a woman takes her dog for a walk but not in the way you thinkthe shocking video next. ,,,,,,,, sparking outrage online. take a look... a woman driving nearby recorded this her cell phone. >>> video of a woman dragging her dog down a stockton street is sparking outrage online. a woman driving nearby recorded this video on her cell phone saying she confronted the woman but the driver didn't seem to care. >> you have a dog and don't feel like getting out to walk it, you shouldn't have a dog. it's dangerous all the way around. >> local animal control officers say this is not okay and could be considered animal abuse. they are trying to track down the driver with the plates on the car but the vehicle hasn't been registered in years. >>> a sheriffs sergeant had to push this car off the road from sanar close, and the car somehow ended underneath it. the woman had just slammed into a fire station and a safeway store and reportedly wouldn't stop. >> the car was going in the wrong lane. it seemed real dangerous. when the car hit the pole, it kind of bounc

. >> i'm richard schlesinger from "48 hours."suspected killer, a former priest s in custody. will new evidence lead to a conviction? that's coming up later on "cbs this morning." ♪ announcer: this portion of "cbs this morning" sponsored by claritin. nondangerousy. live claritin clear! ...non-drowsy claritin every day of your allergy season. claritin provides powerful, non-drowsy 24 hour relief... for fewer interruptions from the amazing things you do every day. live claritin clear. don't let a cracked windshield trust safelite. with safelite'" you'll know exactly when we'll be there. giving you more time for what matters most. (team sing) ♪safelite repair, safelite replace.♪ ♪ >>> 56 years ago tomorrow, school teacher and beauty queen irene garza vanished after going to confession. more than five decade later, a former priest was arrested and extradited back to texas. we have been following this mystery with the help of "48 hours" correspondent richard schlesinger. he shows us how garza family's believe it will finally get justic

. >> i'm richard schlesinger from "48 hours." a beauty queen was found murdered in a canal. 56 years later, her long suspected killer, a former priest s in custody. will new evidence lead to a conviction? that's coming up later on "cbs this morning." announcer: this portion of "cbs this morning" sponsored by nondangerousy. live claritin clear! ...non-drowsy claritin every day of your allergy season. claritin provides powerful, non-drowsy 24 hour relief... for fewer interruptions from the amazing things you do every day. live claritin clear. don't let a cracked windshield ruin your plans. trust safelite. with safelite's exclusive "on my way text" you'll know exactly when we'll be there. giving you more time for what matters most. this is huge news! it's all thanks to our birds eye chef's favorites side dishes perfectly sauced or seasoned. what are you..? shh! i'm live tweeting. oh, boy. birds eye. so veggie good. american workers know how to fight back and rebuild an economy. so does she. we need jobs that provide dignity and a br

there is a great chapter in arthur schlesinger's book where he quotes fitzgerald in saying it was characteristic of the jazz age that he cared nothing at all for politics. and that by 1933 it seems you cannot do that. fitzgerald began reading karl , and there are a lot of things that i get a golden age of culture. i do think some of the same people who were very -- hemingway also went through a very political phase. i think it did seem in retrospect that this disenchantment was expansive. >> [indiscernible] mr. bender: ah! this has to do with the presidential election. [laughter] this could turn into the latin age very quickly. are there any comments you would like to make? >> [indiscernible] mr. bender: my editor is here, my editor is here. trump right now represents a repudiation of a lot of the orthodoxy of the postwar era. obviously. to say, "well, we should cut back on nato" is to go against the consensus of the truman administration. at that time, it was largely forgotten arthur vandenberg, the republican senator that helped create that consensus. but trump represents, i think, a -- he has

jill schlesinger joins us live from new york with advice, good morning, jill. >> good morning. >> how early should you start talking to your kid about money, jill. >> i know this is crazy but between the ages of three and five, you start, and you do it by saying okay, this is what a coin is, this is value of a coin, difference between something that is free like hey you are playing with the friend, that is free and something that cost money like an ice cream cone. you should interest cues a concept of work, and the idea that you may have to wait for something that you want. that is a biggie. >> all right. >> what should parents focus on when kid are in elementary school. >> you know, you can start paying your kid an allowance as early as age six, lots of dispute around allowances, most experts say it should not be based on how hold chores but rather much better to choose an amount based on what you already spent on some sort of small discretionary item that your child likes but does not need like a toy. make it clear, this is what i'm giving you, it replaces what you would have been s

cbs news business analyst jill schlesinger says that is a big mistake, she's live in new york, good morning>> reporter: good morning. >> jill, prince died without a will or what happens now and what lessons can people learn from that? >> reporter: well, his state of residence minnesota will determine what happens, and who should get what. think about this, given the size of the estate, and its complications, this is going to be a mess, the estate attorneys i speak to say it will take years to sort out. here's a lesson for all have of us, please don't let your fear of dealing with the estate process stop you from taking control and reducing the potential for future controversy. at the very least, and i mean this is bare minimum just write down a basic outline have of what you would want to have happen to your assets in the event of your death. of course, i much prefer hiring a estate attorney to do it and members will do tonight accordance with your specific state laws, but having something in place is certainly better than nothing. >> for those who may not know, when you break down what a w

if you have not filed yet cbs news analyst jill schlesinger has last minute tips.ng, jill, what should folks need to know. >> when we say folks let's include jen, your favorite producer, because irs says it takes 16 hours to complete form 1040. that is average by the way. it is only four hours if you are a 1040e z filer. now, if possible, you do want to file electronically, less than 1 percent of electronic returns have errors compared with 20 percent of paper returns. taxpayers who make less than $62,000 can use free file software to prepare and file their federal returns. if you do expect a refund you will get it faster, three weeks compared that to six to eight weeks for paper filed returns. by the way you can file up until that 11:59 p.m. deadline on april 18th. >> what if you cannot meet the deadline. >> that means you will go on extension. six month extensions are a veilable with form 4868, again, by midnight april 18th, otherwise you will face some nasty penalties for late filing and late payments, it can total almost 50 percent of what you owe to your tax b

let's get that schlesinger what is happening with markets in asia. -- let's check out what is happeningets in asia. is now thatertainly we have a training session in japan. --to be she falling 14% onsubishi motors is the test testr fuel economy involving japan's cars. and now thesever tests are related to the data on those tires. the president as well as executives will be briefing reporters later on in the morning and the u.k. they are going to be briefing on the handling of the field test. now down on the stock -- handling of the fuel test. now down on the stock. if you look ahead, a pretty red picture here. things looking negative thanks to crude. that has fallen in the asian session as well as china. a tanking 4% right now extending the losses as well as the biggest drop we have seen in seven weeks. we are not sure what is triggering this. there is some speculation that we could be seeing a january plunge once again. after we saw in march quite a , the shanghai composite rallying some 12%. this is how it looks today as we head into the afternoon break. we saw it dropping off a cliff

and going to dustin, brown, julian hatton, robert schlesinger, tim johnson.just a test as how, as an old man, i can remember names. corrects a letter to you and your office last week for a public estimate -- >> a letter to you at your office last week -- theystimate of believe this is possible and they are ok with a one time privacy concern that would arise from such an estimate. possible for you to give us an estimate, and do you plan to do so publicly? mr. clapper: first, i just have to say how important section 702 of the foreign intelligence surveillance act is to the nation's safety and security. terrific reducer terrific producer of critical intelligence for this country and our allies. point two is that if you could make such an estimate that was explainable and without compromise, we would have done so. we are looking at several options right now, none of which are optimal. they all have drawbacks. irony is, as we have found out many times, is that to actually render an accurate number we have to be more invasive and identify more u.s. persons in orde

we have been following this mystery with the help of "48 hours" correspondent richard schlesinger.reporter: on a rainy evening last month, a long suspected killer was brought back to south texas to be tried by the office of hidalgo county d.a. ricardo rodriguez. >> today we can say after a long wait of approximately 56 years, the beginning of bringing justice to the community. john fyat was a priest in 1960 and has been indicted. >> reporter: 83-year-old former priest john fite told a judge what he has always said about the charges against him. >> not guilty, your honor. >> i'm praying for john fite to go deep inside himself and just do what is right -- confess. >> reporter: irene garza's relative was just a child in 1960 when irene went missing after going to confession. and what had the killer done to her? >> she was sexually assaulted, physically assaulted and she died of sufficiesuffocation. >> reporter: fite soon left mcallen and the case went cold until 2002 when this man stepped forward. >> i covered up the evidence. i'm sorry for what i did. >> reporter: dale tashney is a f

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hours" correspondent richard schlesinger. he shows us how garza family's believe it will finally get justice. >> reporter: on a rainy evening last month, a long suspected killer was brought back to south texas to be tried by the office of hidalgo county d.a. ricardo rodriguez. >> today we can say after a long wait of approximately 56 years, the beginning of bringing justice to the community.