depriving the sec of necessary funding as a suppose of punishment

the sec, issued what is called a no action letter and said we will not penalize you for this.nd under the statute, yes, if people now disregard any federally imposed requirement they be removed by the rating agencies, that's no longer in effect. they know longer have to worry about that. some of them have their self-imposed rules, i would advise them, take ratings-- don't make it automatic. and communities in the district i represent that are being threatened with a downgrade, this is zero chance of them not making a payment and if i were in charge of their investment i would disregard the rating agencies. >> neil: but there would be more chances of not making a payment if the government goes up against the deadline tuesday. >> no, not in these committees. depends, if you notice what the market has been doing, short-term, long-term thing. short-term paper could be a problem, but most of the municipalities i'm talking about, i'm trying to protect them from paying more, fire buildings, firehouses, these are 20, 30 years bonds, i don't think there's any dang wer a 20 or 30 year b

the sec implementing the dodd-frank act has been extensive. thank you for inviting me to share our progress and our plans going forward and i look forward to entering your questions. >> thank you, chairman of the -- schapiro. chairman gensler. >> thank you for inviting me to testify today and i am pleased to testify on behalf of the commodity futures trading commission. on this anniversary it is important to remember why derivatives reform was so necessary. when a ig and lehman brothers failed we paid the price. all of your constituents paid the price. the effects of the crisis continued to be very real with significant uncertainty in the economy and millions of americans still out of work. though the crisis had many causes it is clear the derivatives played a central role. swaps added leverage to the financial system with more risk backed by less capital. they contributed particularly through credit default swaps to a bubble in the housing market and helped accelerate as we went into the crisis and contributed to a system where a large financ

the sec originally leased about 900,000 square feet. said couldn't use the space it had to sublease it out to two other agencies. now what's left is about 350 square feet of just empty space. in a congressional hearing, the sec had two representatives testify, but neither could explain why basic procedures were not followed. >> i'm new to the position. i'm reviewing the current position and trying to improve -- fix that process going forward. so i can't speak to past operating practices other than to tell you as you've seen they were deeply flawed. >> reporter: we asked the sec it for an interview, but they declined. the head of the office of administrative services who signed the lease is still on the job and sistill in that positio. now, the sec is unique as a federal agency because it has its own authority to lease buildings. other federal offices have to go through the general services administration. congress, though, is looking at revoking hae ining their leasiny and next wednesday there will be another hearing and the chairman ha

the sec not be able to hire the expertise to please these new areas. i would requires the sec let transaction fees to offset the annual appropriation of the agency, and regardless of the amount upgraded, because it will be offset by fees we collect, it will have no impact on the budget deficit. sec efforts to implement the act had been extensive. we know our work continues. thank you for inviting me to share our progress, and i look forward to answering your questions. >> thank you. chairman gensler. >> i thank you for inviting me here to testify today, and i am pleased to testify on behalf of the commodities futures trading commission. it is a poor to remember why the law's reform is unnecessary. when aig and lehman brothers failed, we paid the price. all of your constituents pay the price. the effects of the crisis continued to be very real with significant uncertainty in the economy and millions of americans out of work. although the crisis had many causes, it is clear the derivatives marketplace played a central role. they contributed to the produc

i hope that the sec will set the record straight.thank you. >> thank you. >> thank you chairman garrett and members of the subcommittee for permitting me to testify before you. my name is andrew donohue and was the director of the extent -- exchange commission from a 2006 until november 2010. party joining the sec i held senior positions in the investment company industry, most recently as global general counsel for merrill lynch investment managers. i've been associated with investment company industry since 1975 and i've recently been elected to the board of mutual fund directors forum, nonprofit organization of independent fund or actors. the views i express today are my own and should not represent those of my firm, my firm's clients or any other organization. funds are subject to a conference of regulatory regime that has served funds invested well and played a significant role in the success of the one industry. with a critical role that funds play on our economy and an investment of american people's hard-earned money for savi

the sec does not endorse the need for this practice. the federal government's jurisdiction over radio communications is predicated on a finding that national regulation is appropriate and essential. supervisor avalos: thank you very much. supervisor mar: thank you for your testimony. let me ask a question to the industry. i know that many local activists appointed clinton to a number of studies. they say that at least five studies in the last four years, the study from the journal of epidemiology a couple of years ago, they are showing that there is a potential link. especially when they look depth the impact had on children that do not know any better. a number of studies are showing that there is potential public health risk. you are saying that there is no health risk at all. as the parent of a young child who also has a cell phone, i worry. i do see a number of studies cited by the environmental working group and they give me pause when i think about protecting the children's health. can you just respond to those four or five studie

>> i think the committee should go ahead in the early focus on sec's role and move as much persuasive power as possible to get the a while, but essentially put its process on hold until this event unfold. the fiduciary will overlap precisely with a large percentage of the brokers who will become a meeting of fiduciary standard estes the road. that double whammy is not an appropriate way to go out extending regulation, especially when the way they structure, it is much more appropriate for the sec to go first to see how the system works before you attack the industry, which has far many more restrictions and is far more difficult to comply with. >> and if you wish to comment on that? >> i would say we have, you know, paid a lot of attention to this rule and one one of the concerns of the fiduciary standard is proposed is that it has the unintended effect of interfering with key services that may be provided to participants or holders of iras. i think it is something that you could address by thoughts on the proposal of the provision. so we're hoping they could address that. it would be

the sec does not need to put it out there. it can be kept from competitors. but the fcc needs to do a better job from gathering data and not just rely on what comes to it from third parties and analysts who may have a stake in the may have a colored opinion part i. >> we're pleased to be joined by paul kirby, senior editor at telecommunications reports. >> measuring concentration in the industry, it was slightly higher than it was in 2008, but nearly 700 points higher than 2003. antitrust authorities usually say 2500 is a market that is highly concentrated. is this a concern for regulators or consumers? >> you are refering to hhi, which measures concentration, not competition. when we look at hhi numbers, the report you are referencing suggests the united states has the second lowest hhi among all the developed world in terms of the raw numbers. i think you have to look at a market and how it is structured. this is an extremely capital intensive market. it requires capital expenditures of a significant amount each year. you see a market place in the united st

this nickel and diming of the sec and the dftc does grave harm. for people who are prepared to have america a sustaining or, i was encouraged when the gentleman from alabama spoke about the military-industrial complex. we cannot find $150 million for the cftc. the sec, that is an area where there is the tax payer money. fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are

. >> we have caught up with the sec -- sec commissioner crawford. what are you seeing here at the show? >> id is incredible for all of us. anyone in america can access the things on this floor. you have all types of programming options. that is what you want. to be able to see and expand themselves through entertainment. is all about jobs, jobs, jobs. >> what kind of regulatory approach are you taking to encourage innovation? >> the right type of that -- the right type of balance. a regulatory engagement that people will be accustomed with. interaction online. companies making sure that they have regulated the process right to encourage innovation and that type of interaction with the consumer that all of us benefit from. >> thank you very much. we are on the floor of the cable show, 2011, we have caught up with jamie preston who runs bend broadband by an oregon. >> we serve 35,000 customers. we also have a wireless service that serves rural areas. we are getting broadband out there, as well as serving our communities. >> heading into the cloud comp

this nickel and diming of the sec and the dftc does grave harm. for people who are prepared to have america a sustaining or, i was encouraged when the gentleman from alabama spoke about the military-industrial complex. we cannot find $150 million for the cftc. the sec, that is an area where there is the tax payer money. fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are

that one on a foreign government but also in the hacking next hackers collective anonymous and lulz sec which alona covers quite extensively they have targeted state websites in the past and they did that after u.s. intelligence agencies valid to clamp down on and lulz sec to open our mind you they claimed responsibility for a cyber attack on the u.s. senate website so since then there have been a string of arrests on sixteen alleged anonymous members many of them are teenagers so the question we want to ask that kind of logically follows did a bunch of teenagers help take down the u.s. cyber security team are they victorious in their mission joining me to discuss this from our new york studio is peter ludlow he is professor at northwestern university my alma mater and he's also editor of crypto anarchies cyber states and pirate utopias thanks so much for being with us my pleasure so what do you think i just break it down do you think that it's possible that the work of law and anonymous could have had anything to do with what you know drove this cyber security guy out drum to resign. n

we talked about this a lot last week and it's not been able to push all the way into southern secs of virginia. had it gone 100, 125 miles farther to the south, we would have been perfectly dry out here this evening and most of the storminess would have been along the front and is to to the south. that is not the case. you can see here with the boundary in the area and that thunderstorms are moving off of there and there is that disturbance moving through, too, and helping to initiate some of that in western secs of pennsylvania. tomorrow morning, once we're through tone, we'll have a few clouds in the morning, 73, mostly sunny at noon and 86. a spotty thunderstorm or spotty shower football late tomorrow afternoon -- possible late tomorrow afternoon. the high temperature around 90 degrees. should see plenty of sunshine tomorrow and that will stay on the muggy side. the muggies will come back on wednesday, thursday, and still a chance of storms there. and that destroy error -- drawing period and next week looks like it's going to be into the mid- to upper type thes. -- upper 90s. >> th

this nickel and diming of the sec and the dftc does grave harm. for people who are prepared to have america a sustaining or, i was encouraged when the gentleman from alabama spoke about the military-industrial complex. we cannot find $150 million for the cftc. the sec, that is an area where there is the tax payer money. fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are

but -- okay, one sec.s some help, and i fancy myself some kind of lothario. >> jimmy: mm-hmm. >> i'm some kind of -- like a pg version of that guy "the situation" from "the jersey shore." [ laughter ] >> don't lose focus. don't lose focus. don't lose focus. don't look -- >> okay. and i try to help him -- >> jimmy: yes. >> to rediscover his manhood. >> jimmy: yes! that's it. [ cheers and applause ] that was it. you described it. it's so funny. this movie is brilliantly funny. it's actually a very clever funny, too. it's not like dumb jokes. it's very smart, intelligent jokes. and you and carell have great chemistry as well. >> yeah, thanks. i had a friend help me out a lot, though. >> jimmy: who? >> well, my friend, chris angulo is the funniest guy i know. and -- >> jimmy: excuse me. [ laughter ] >> [ stammering ] we just met. but i don't know you. >> jimmy: yeah, we know each other. >> we're strangers. >> jimmy: no, we're not strangers. >> not now. but when i said that, we were. [ laughter ] >> jimmy: we s

of hacktivists right now even rupert murdoch's empire can't hide from the cyber hacking ways of lulz sec according to their own tweets they're currently working with specific news organizations to share what private information they've obtained from hacking news corp files in the news corp pretty sure that cover a treasure trove of information on the way that they conduct business so it appears of anonymous and lulz sec or strong as ever and despite the fact that laws like announced its retirement back in june seems like they just couldn't help themselves they had to get back into the game but they've also teamed up with an onset seems like the activists of realize that they have a lot more things in the world to correct early stand up and for that i'm quite interested to see how nato and the f.b.i. are going to respond to anonymous sex efforts to take down some of the most notorious organizations in the world. are it's the last week instead of just talking about the bloated defense budget and wasteful programs in broad terms we decided to give you a specific example one that could end u

this nickel and diming of the sec and the dftc does grave harm. for people who are prepared to have america a sustaining or, i was encouraged when the gentleman from alabama spoke about the military-industrial complex. we cannot find $150 million for the cftc. the sec, that is an area where there is the tax payer money. fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are

investigation into the criminal activity of the so-called have to visit groups gone amiss and will sec now we should know that was the spokesperson for anonymous and eventually moved on to represent the offshoot organization which is of course lulz sec and in fact topiary has been featured on this program back in december alone interviewed him when he represented anonymous and he explained to us why anonymous made a target out of companies like pay pal visa and master card. these companies. paper for example funding we can reach they took the phones from wiki leaks and they refused to give them they have given them but you know but we believe this was not really an addict do they want to do they were forced to do it and we're not a malicious group we were doing this for a reason we're doing the movement for a reason for the freedom of information and speech. and paul speaking of pay pal the hacktivists anon and those security are going old school with a new campaign against the site and rather than trying to get people to crash it with a d.d. o. s. style attack they're calling on other

together for a project that allowed them to work together under the law banner on the good ship lol sec sailing the high seas of the internet in search of locals anyway it doesn't really matter if they have disbanded or not they're still out there they didn't back into the total anonymity or not much of what they have leaked from various government agencies is still being processed and i tested i hope to use the show is a platform to get into some of the relevant content in those of the mainstream media might be afraid to touch and i'm really grateful for all of the offers that we've received for helping us in this impromptu crowdsourcing exercise but i can't even keep up with all the releases to organize such an analysis so please begin the allison files email me adam it out of reach of the man dot com to find anything noteworthy like the very cooper report we interviewed him about just a couple days ago here if you have any questions please do not a facebook page and someone will jump out to help you up anonymous is an inevitable product of the internet we are anonymous we are legion

first denied the sec and the cftc adequate funding. they in turn will not be able to deal with the rulemaking requirements that they have. because they have not been able to move as quickly on the rolls, the rules have to be abolished. that is something they have imposed. you want the sec and the cftc to have smart people and good information technology. this does not come from the financial institutions. got the rules,, you m will run.e the other problem we have is i have been disappointed in the appointments from the obama administration. we knew last august that the comptroller of the currency had to be appointed but they only now come up with tom curry. the failure of pointing -- appointing someone to the cftb. a bank manager was brutally rejected. he was a disrespectful person by the republicans and now they will confirm nobody to the cftb. the purpose was to give them independence and now want to subject them to the bank regulators before they will nominate anybody. that is an absolute perversion of the constitution. there is all

he says it hasn't changed much in the last three sec kades.the club started in 1933. >> they had a facility with a tiny platform where people could cast at the same time. >> the club later convinced the city to build the lodge and pond. >> you can see a lot of this was done by hand. >> inside the lodge are floor to seemg lookers filled with the stuch of fish stories. the club has 500 members but the ponds are also open to the public. >> relaxing. you know, it's being out in the open and listening to the birds, you know. >> reporter: the ponds are internationally known. one of the few urban places to practice and learn. >> some people prefer the fast rods. bends almost only in the tip. other people proceed -- prefer a rod that meets medium action and bends further down. >> national tournaments also put it on the map and yet many san franciscoians don't realize it is right here in their backyard. heather ishimaru, abc 7 news. >>> the third time was the charm for south korea today. that story as we continue tonight. >>> plus, new video of the dus

the wind was swirling and it was just loud as heck for 30 secs to a minute. >> the storm lasted longer and the bust, what jeff it was, was about a minute. and i thought the heavy hail or something and i was going to look outside. when i looked outside, i saw it, trees everywhere. >> reporter: big trees. trees that tore down power, telephone and cable lines. so many trees that 44 hours after the storm, some streets were so completely blocked and that slowed down power crews from dominion, virginia. it was not just trees damaged, windows, cars, and buildings were smashed by the falling trees and jay williams was in the upstairs bathroom when his wife called everyone to the basement. he would have been crushed by the falling tree had he not moved instantly yo and that went through where i was. >> where he was standing. >> a few secs before. >> and when -- the house, we were -- my son, we were carrying him and was on the stairs running down the basement. >> reporter: there is significant damage in three floors of the williams' house, but they feel lucky no one was injured yet may take five

antisec includes people from lull sec. they were able to break into several government websites before dismantling. >>> someone discovered the password to the network's twitter account and started posting fake tweets last night. one announced the assassination of president obama. another one wished vice president joe biden as new president. >>> if you have a question for the president, just keep it within 140 characters. on wednesday at 11:00 a.m. pacific time president obama will hold his first ever twitter town hall. you do need to submit your questions early at hash tag ask obama. jack dorsey will select the questions and moderate the forrum. >>> a 19-year-old marine is under custody after going on a deadly shooting rampage. he shot and killed four marines. so far there is no known motive. >>> in egypt an overnight pipeline explosion is called an act of sabotage by the egyptian authorities. the flames shooting up out of that pipeline. that explosion has shut off the flow of natural gas from israel to jordan. this is the

but it's very important what we do in the sec. mr. leibowitz, you express on that protection rules, regulation promulgated to help protect privacy online. can you please tell us more about this rule and does it ensure that children are protected while using the internet? >> is a bipartisan piece of legislation that set of this committee. are we also understand that the internet has changed and in technology is changed to a children use the internet dramatically in the last two years. that's when we moved up a regulatory review by five years. and so we work with stakeholders. we put out a notice of inquiry and we will have proposed improvements and draft legislation. we take comments again hopefully within the next two weeks by the end of the summer. >> just as an example, there's a lot of concern about agency regulation. there's so much of what you do is in response to the legislation, whether it's new legislation or previous legislation. this is a good example of a rule that frankly is a father or grandfather now. i can't possibly mo

. >>> a sec of yellowstone park is closed to visitors after a grizzly bear killed a tourist. raineners say a man andly -- rangers say a man and his wife were walking along the trail when they discovered it. detail about the victim are not being released. this is the first fatal bear attack in yellowstone? 5 yellowstone in 25 years. >>> a lot of low clouds an fog. it did make a strong push inlan. that will probably happen as we head into friday. that's still plenty of low clouds an fog. yesterday, it dropped along the coast and around the bay, the inland temperatures, even though they were out of the upper 90s, unless you are upper -- up farther. fog's mott going anywhere. it will be back. fog, sun, breezy. mainly sunny an breezy. the sea breeze has -- has kicked in. it's starting to ramp up again. still a few low 90s left. 60s by the coast. thunderstorm activity is going to start getting pushed off towards the east as our upper air pattern turns southwest. if it does -- 90 in livermore, 7 in con core -- 78 in concord. san jose 78. 65 oakland. you can see why. west win, fairfi

this is a class sec summer pattern.t is drier in the upper midwest, area of high pressure over ohio, indiana. this is di viegd the hottest and most humid air from the moderately hot humid air. that is the line the storm will focus on. this line will shift back and forth. our computer model, futurecaster trying to pin pont where that will be because storm also flare up. tomorrow it pushes it into maryland. baltimore with the likelihood of a few storms to flare up. then, again, these are heat driven. as we go into thursday, the bund dry shifts. you can really make it out here coming up from richmond, virginia, to central, new jersey. we could see more pop-up showers into thursday evening is the bottom line. so 69 tonight, partly cloudy. it will get muggier as the humidity creeps northward. then tomorrow about 90 or so. humidity stays high. there will be the chance for some afternoon thundershowers that could linger into the evening. tomorrow down to 70 as there's a scattered evening storm. here's how the outlook shapes up

water moving at 5000 cubic feet per sec. three times the normal afternoon.t hadn't planned that it would pl take them under. if plenty of white water rafter get tossed that is part of the sport. but even for this well trained experienced group, the strength of these rapid water took a toll and then for a minute on end went to work on the wills. >> what surprised memos was going down the river that long. it felt like i was under the water for 5 to 8 seconds. the that's when l ty asked myself if this can't be the way that i'm going to do. >>reporter: ultimately no they all survived. one woman in the group did suffer a near concussion and went to the hospital. >> she went into shock. she had memory loss. short-term memory loss. >>reporter: now she will have the video as cautionary tale of one raft trip gone arye. >> 1 2 3 and close-up. >>reporter: after last weekend close call here's one last picture to appreciate. safe and home happy ending from walnut creek, abc 7 news. >> safe and sound. whether an adventure that was. scary so quickly. >>> spencer is here an

the sec may investigate. there are people calling for murdoch to be up in front of congress. >> the firestorm engulfing two of britain's top cops and still threatening even the prime minister david cameron. >> head of scotland yard stepped down amid public outrage yesterday. >> stephen: big deal. who cares if the head of scotland yard resigns. why is scotland yard policing england anyway? call me when the head of england yard resigns. that's news. now thankfully, folks, there is a voice of reason out there. boston friend steve doocy who last friday blew the lid back on to this story with some pr guy who may or may not be employed by rupert murdoch. jimmy, pitch me off a deuce. >> what do you make of what this particular hacking scandal with the news of the world. >> the "news of the world" is a hacking scandal t can't be denied but the issue really is why are so many people piling on at this point. >> avenue's got some serious problems in this country right now. we are teetering on default with. what do they

i do worry about the precedent that the sec, and for those reasons, i will be voting against it -- why i do worry about the precedent that this sets. president chiu: why do we not take a roll call? clerk calvillo: supervisor chu, supervisor cohen, supervisor kim, supervisor mirkarimi, supervisor wiener, supervisor avalos, supervisor chiu. president chiu: this item passes. item number 35. clerk calvillo: item 35, the settlement of a lawsuit with arash ghanadan. president chiu: roll call. clerk calvillo: [reading roll] there are 11 ayes. president chiu: this ordinance is passed on the first reading. item number 36. clerk calvillo: item number 36, the settlement of a claim with weintraub capital management, a claim filed on january 25, 2011. president chiu: same house, same call? this is passed. next item. clerk calvillo: item 37, the settlement of an unmitigated claim with ned bresnahan. president chiu: same house in col. next item. -- same house, same call. next item. president chiu: next item. clerk cal; -- cal; -- ca;vo;; -- calvillo: item number 38, the settlement of an unmitigated c

milwaukee matt in the sec. breaking ball. one run in.te side a missile from ross and can't hold on to it. another run in. brewers built a lead in the third. a little help from crawford. swirl swirl expires and former a to the z.not any more. aaron high and deep and goodbye. 4-2 now but the real fun is in the crowd. guy in the jacket he's ecstatic. lack. home run. oh, knocks over the food. sorry dude. now the crowd really got into this game yelling at center fielder morgan who runs down this ball and then tl the hook them horn gesture there. that young man needs to calm down a little bit but the brewers win the game 4-2. l a's in new york where still a lot of love format sue i. a's with support for trevor early. base hit. jackson and a ps up in the sec. then things go terribly wrong. the bo-5 rbi in the game. yankees implode. 5 times in the secon second. 9 more runs in the third. this is grand slam for mark p.10 earned run allowed in two runs and yankees hot and beat them for the seventh straight time. more trouble in donor land today. ju

in a filing with the sec, zinga log to raise as much as a billion dollars in its original offering. the company didn't disclose the price or shares to be included in the deal. >>> i'm lindsey murphy at nascar. 11 games in 10 games, all under a new managerment we're talking about -- the capitals send a goalie to the nationals all coming up in sports. >>> nearly four years after they dropped him, nike has re- signed michael vick to an endorsement deal. the qb had a contract back in 2007. that's when it was yanked after admitting his involvement in a dogfighting ring. in a statement, nike said it doesn't condone those actions, but support the positive changes he has made to better himself off the field. >>> >>> in the olympics. >> visiting hagerstown. he's going to get here quick, so i think it's a have till situation for anybody, really. >> talking about the present. after six games on the road and a 2-4 record to show for it, the nationals not just excited to be back, but excited to get in another hot winning streak. >> i think it's always nice to get home. we're where we need to be

the way withll ose@financial instrumen$sí fannie and frdie got into the act@when they lost a great secn of the mortgage market because goldman sachs and meryl lynch and everybody else was instruments, and@the ial unregulation allowed them to go the crowd but they did t lead the way. abo-t 3 cents apiece, for@each is -- diminished vadew. re now >> then they were taken by the federal government. congress said they uld face $25 billion with sses. i y they will face $500 biion. already banks are paying back their money. >> zero. of investment? >> $hat's ght. >> 50 billion banks to far lost to taxpayers, loss to taxpayers, $150 billion. it willbe more. obama administration wants to windit down. republicans want to wind it down it's all a matter of pacing. itwill be wound down. because @@there souch inventory in e market that can't and won't clear. yore not going to clear fannie and freddie til you clear the market. and the market won'tclear for five to 10 years. >> they're priding er 90% of the mortgages@in america. they're the only institution willg to anecome whatyou they did was@they los

of the more than 90 mandatory rulemaking provisions, the sec has proposed or adopted rules for three quarters of them, or about 70. this does not include the additional rules stemming from dozens of other provisions with the sec was granted discretionary rulemaking authority. the rules we are proposed and adopted have been strengthened because of the process we put in place. we have increased transparency and make it easier for the public to provide input. as secretary geithner alluded to, it is so important that we not forget the harm that the financial crisis inflicted upon our economy and our people, or ignore its lessons. that is one reason it will be critical that all regulators receive an appropriate funding levels to be able to fully implement this new law and protect investors, as the law intended. after one year i'm pleased with our progress. i'm looking for to even busier year to come. thank you. >> thank you, mr. secretary. and thanks to you for your leadership and to treasury staff for the leadership that they have shown in this process and the cooperation that we have en

women ighting for oor freedoms ad some fun on thh &pbattlefield for the fourtth 3 rain in sheets 2 secsscs. the ain wouldn't stop. the damage & phis wicked weatter caused in our nation's ccpitoll 3 denny's new tour of america menu. 50 star cuisine. the new tour of america menu. starting at $4.99. only at denny's. america's diner is always open. 3 as fast as you can. ttday, catonsville held a hot dogg --3eating contest. the ruues can beforr time expires and - don't let them.... reappear. phhtojournaliit jason fischer got down and diity to show you who is top dog. -3 dog. 3 coming p ii sports he big boys... and girls try for the ánationalá hot dog eating title. how ttoay's ferocious competition proved the old addage, the bigger & thhy are, the harder they fall. p you won't wanttto miss &psports unlimited with bruce cominn up after fox45 news t -3 ttn. 3& many got into the holiddy spirit at the catonnville fourth of juuy parade. parade."god bless america ..." ..."people came ouu --- decked outt i red - white - and blue to watch the cclor guard --- &pmarching bands nd floats. residents were

, hud, commerce, homeland security, numerous federal and inspectors general, the fdic, the ftc, the seche irs, special when specter general for t.a.r.p. and the recovery accountability and transparency board as well as numerous states attorney general the executive order direct us to use the full criminal and civil enforcement resources of all these different agencies to do five things to investigate and prosecute, second, recover the criminal proceeds, if there, address discrimination in the lending and financial markets and forth, and hence coordination among federal, state and local authorities and last conduct training and outreach to the public. as chairman of the attorney-general of advisory committee i'm honored to serve on the committee along with representatives from the other agencies. however, the leadership of this group extends beyond the beltway for exit likely to the southern district of new york along with the criminal division representatives from the sec and cftc chaired the securities fraud working group. on the west coast of the mortgage fraud working group is cochai