do you agree with that, michael spence?ec -- >> are they still do marginal decider of the price of our oil? >> the swing barrel. >> i think they are. it looks for the moment like that decided not to do it in the way they did in the past. >> again, to the microeconomics of this, which we don't talk about this enough of supply and demand, brendan mentioned the united states. we have changed the dialogue of the global economy to the point of lagarde's bureaucracy. >> if you stand back from this, the u.s. -- north america is a major net producer. a lot of these prices were based on growth in asia that isn't going to be as high as it was. >> i stood in our washington news bureau the data last energy discussion eight years ago, whatever, blew up. he was literally in tears he was so angry. we did not have an energy policy. and looked what happened, chief oil. >> is this one of the historical moments were people have to learn to think about something in a completely new way? we've always thought about oil in terms of demand. in ter

spence with the most important on the financial crisis, we will speak with michael spence about the newf topics. looking forward to that in our 60 block a.m. our tomorrow. we say good morning. markets on the move, -7, no big deal, all of a sudden -15 with some real turmoil. let's get to top headlines. here is scarlet. new spacecraft reaching san diego after a successful test flight ins with a plunge into the pacific ocean. a navy ship delivered the capsule and unloaded it. orion was an unmanned flight that carried it 3600 miles above the earth. or a thousand miles an hour, temperatures near 40,000 degrees -- 20,000 miles an hour, temperatures near 4000 degrees fahrenheit. a popular serial back after being discontinued in 2006 as ereal saless -- as c declined. a facebook page devoted to its return has a most 9000 followers including one tom keene. the french toast crunch 11 national rollout and january. and he manages a toy factory at the north pole, a pilot they dangerously loaded sleigh on a global mission to reach 1.8 billion children under the age of 15. he has an annual salary of $1

when darkness falls, skaters climb over the spence, try not to get caught by the security guards, and then they can really shred. >> a tunnel like this is great for us skaters. it's dry and warm. what more could you want? we need more things like this. >> the skaters raced through the tunn at dsf up to 40 kilometersn hour. no cars, no pedestrians, and because a lack of proper safety installations has repeatedly delayed the tunnels opening, their fun is guaranteed to continue, but they have to be fast to avoid security guards. >> i just love the feeling. it's your adrenaline --ure adrenaline. >> this is the best skate ramp. not just in problem, but in the world, i think. >> but the instruction of the tunnel was anything but fun for the residents. entire blocks of houses were in danger of collapsing, so the cotrucon cpanyook measures like this -- steel beams run through this living room. he often hits his head on them. >> it looks like a factory here. i sleep in this room, and i'm always whacking my head on that thing. my wife as wel she puts pillows on the beam, but it does not help. >

laureate, abilities subtly within finance and economics, but michael spence on one of his more recentthat of china. china folding into the commodity collapse. we look to washington and the 7:00 hour. ken feinberg. you know him as the czar of this and these are of that. ken feinberg on any number of topics including the ponzi scheme of the madoff scandal and the sentences we saw yesterday. and also joining us, robert wolf. we will talk to robert wolf about sitomer mccain of arizona, most interesting -- senator mccain of arizona, most interesting story today. to it.ing forward thank you, tom keene. the repercussions of the global financial crisis continue. get a is being unveiled by the federal reserve -- new regulation is being unveiled by the federal reserve. here with born the latest banking, caroline hyde. >> let's start with jpmorgan. the u.s. once again showing us they want to be tougher than the rest of the world. the same was switzerland as well. really, they are very worried tout banks being too big sale. the rest of the world is put in place financial stability report's recomm

professoru economics michael spence tells bluebird surveillance that russian president vladimir putin is a big user here -- loser here. >> is pushed him into the arms of the chinese. >> is the dialogue ongoing? going back to what? 1970? >> i think it is. china is a net importer. they will benefit mightily from are the klein and they concerned about securing sources of energy. >> crude hit its lowest price in five years. walgreens on the hunt for a new ceo after current president greg --son does he will retire greg wasson says he will retire. walgreens says it is not using the deal to move its tax address overseas. a new report says disney, pepsi, fedex and microsoft skype is among hundreds of companies that have benefited from secret tax deals with ox and berg according to the -- luxembourg. more than 340 companies have transferred profits to luxembourg using complicated tax arrangements. the clock is on for lending clubs ipo. well above the initial range of $10 to $12. the company begins trading tomorrow morning. our lead. the fbi is bracing sony employees -- briefing sony employees

. >> reporter: i'm darnelly spence are where a student has filed a $3 million civil lawsuit. he claims that he was hazed while joining a fraternity on campus there last year. now, monday allegations in this lawsuits as the student was allegedly beaten he was body slammed. he also said he was spanked with a wooden paddle and that these incidents happened night after night after night. his attorney says the abuse continued even after his mother came to the university to complain about the abuse. >> he was body slammed. he was punched. he was beaten with a paddle. he was slapped. he was beaten with the hands on a nightly basis from five to eight hours a night. >> reporter: coming up at 5:00 you'll hear from the student who filed this lawsuit. he'll describe the abuse that he says he endured and why he did not quit the fraternity. in upper marlboro darcy spencer, news 4. >> bowie state says it has a strengthen hazing policy. this statement reads in part -- bowie state university is aware of the lawsuit filed today alleging an incidence of hazing by a fraternity on campus. we unde

we have mecca, spence, panda. we are going to wax on and wax off the red team.nown to be a tough city, let us meet team red. - this is treadway, representing the red team. i have my man d money. reese raw banga. in my man haitiock. we about to do this thing to the blue team. let's get it! - we are in a search for team that knows the most about philly. - philly pheud on phl17 is

darcy spence are spoke to him today about why he's deciding to sue almost one yea >> hit with their fists, body slamming. >> did they say why they were doing it. >> it makes you stronger. >> he says he was hazed while -- kevin hays sense this photo shows his bruised buttocks away being spanked with a wooden paddle. >> rep what did you do? did you have to take it our fight back? >> just take it. >> they filed a multiple million dollar lawsuit in the circuit against the fraternity and three of the officers. they were not students. >> you were told not to tell. >> yes. >> what did they say? >> they said if you tell you're a snitch. >> he says the alleged assaults happened offcampus at fraternity members' homes. while the university is not named in the suit hays and the attorney says the school failed to investigate. >> how do you feel? >> they did not respond. it was treated as if it didn't happen. >> rep state officia are not commenting on the allegations, since the school is not named in the lawsuit, but they want in a statement, bowie state university has a stringent anti-hazing policy th

yellow cells corresponds to more spence downpours.side of hayward rainfall incidents two tenths of an inch an hour. we're going to have increasing rainfall rates into the monday morning commute. we're tracking multiple storms this week. more rain for your monday, the chance of some thunder on tuesday as the second system moves onshore showers likely in the fray forecast. here's the headline a wet commute for monday morning. temperatures on the cool side as well mainly in the 40s to right around 50 degrees. we showed you this forecast model earlier showing you the rain showers picking up in coverage tomorrow morning at 7:00 and sticking around into the afternoon. if you want to break you'll see wraps later in the afternoon into the evening hours we scale back on the coverage and intensity by late tomorrow afternoon and into monday night. expectations with the storm number one for tomorrow will be rainfall about 3 quarters of an inch to about an inch and-a- half coastal hills could be about 2.5 inches and winds do pick up we do not have

chicken is and spence sieve. >> real chicken, real beef, real turkey. >> it's expensive. people pay up? >> first of all, we want to do what's right for the pet. the right protein and right quality. we're not looking for everybody in the market but the health and wellness, the humanization trend. yes, it's probably a little more expensive but to pay more to get a bigger value and a lot more love from your pet, i'm in. >> you say bigger value, a lot more love but no scientific study that says natural organic lengthened life. >> my mom tells me fresh is better. >> that's probably one of the -- that's why the price earnings ratio is going higher. so we tried it. we tried the big one, and i've got to tell you, i felt uncomfortable after i opened it and the dogs didn't eat it and put it back in. is there an objection that says wow, i don't really want that in my refrigerator after i open the big one? >> not really. people like to interact with the pets and the big rolls, people lice to sli like to slice them and cut them while the pet is anxious to get the food. you interact wi

nyu economics professor michael spence tells bluebird surveillance that russian president vladimir puting user here -- loser here. >> is pushed him into the arms of the chinese. >> is the dialogue ongoing?

in es spence the blank check so cold. still what the germans thought they were agreeing to is the austrians would make some kind of a move against serbia. didn't quite work out that way. four weeks passed the austrians are dithering and delaying. finally on the 19th of july they hold the war council, this is in berthold's residents in vienna. the strudelhoff, yes that actually means the house of strudel, where they got together to plan the war, the staging of the war. by then they'd taken so long they were coming up against the fact that a presidential sim mitt was about to take place at st. petersburg with the president of france along with viviani who was premier and foreign minister and they didn't really want the french and russians to be able to coordinate a response while they were toasting champagne so they waited until after they left and sent telegrams to petersburg asking about details. unfortunately the russians had broken the austrian code so they were reading these telegrams. in the end they didn't even learn

in es spence the blank check so cold. still what the germans thought they were agreeing to is the austrians would make some kind of a move against serbia. didn't quite work out that way. four weeks passed the austrians are dithering and delaying. finally on the 19th of july they hold the war council this is in berthold's residents in vienna. the strudelhoff, yes that actually means the house of strudel, where they got together to plan the war, the staging of the war. by then they'd taken so long they were coming up against the fact that a presidential sim mitt was about to take place at st. petersburg with the president of france along with viviani who was premier and foreign minister and they didn't really want the french and russians to be able to coordinate a response while they were toasting champagne so they waited until after they left and sent telegrams to petersburg asking about details. unfortunately the russians had broken the austrian code so they were reading these telegrams. in the end they didn't even learn

spence, you want to give marcus the soup tour? -spencer: sure. -lemonis: soup tour. -how does this stuff sell? -spencer: great. this is swansons' family recipe. lemonis: so, what is this called? spencer: this is bouillabaisse. -lemonis: this fish is amazing. -spencer: yeah, thank you. lemonis: i'm a little disappointed that gary hasn't expanded his prepared foods. the margins are double what the fresh fish is. if he can just have what i call "attachment" -- attaching one prepared-food item to every fresh item that he sells -- his business should go up markedly pretty quick. how you doing, sir? do you come here often? -man: i do. -lemonis: what do you get? is there a specialty that you love? man: i love this coconut shrimp. the stuffed clams -- i can't make them at home as good as he makes them here. i just wish he did more prepared stuff. i'd like to see the man open a restaurant. lemonis: will you come help us wait tables? i'll wait them with you. man: aw, i don't know. i'll come to eat. lemonis: okay. nice meeting you. man: thank you. lemonis: is it always this bus

constant focus is on regulation many of which go over the heads of congress he can be laid those growth spence week to years of his presidency. dave: the ball is back in the court what can they do, do they have constitutional authority to interfere? do they have the political fortitude to interfere? did they want to save their political capital until 2016? the presidential election which seems to be the prevailing in the view among mitch mcconnell and his colleagues and john boehner and his colleagues in the house. will we be suffering through this for the next two years has a president comes his nose to the wishes of a majority, expressed unambiguously and profoundly in the election. dave: almost a suicide pact which is the title of your book. >> it is a suicide pact with the president lets congress destroy the constitution. dave: good to see you. a new fbi warning, cybercriminals are out to get you in the company's you do business with and now they have technology to make it nearly impossible to recover the information that they stole. no i have $40, $21. could something that small make an i

caller: spence. governor of indiana. host: oh, mike pence. what is it about him that you like? caller: because he has cut at the nd cut spending same time. host: go ahead, joe. caller: i was going to say that he is also good on the social issues. if you put another moderate republican in there, they're going to get pounded. host: as we continue to hear from republicans only, this is melissa in new york. hi, melissa. caller: hi. good morning. i would vote for chris christie if he runs, because i think he has a bigger chance between all the candidates in the republican party to win by getting both the republican vote and the democratic vote. including moderates, as well. because it does cover, you know, all ground. an equal say he is opportunity president candidate. host: why do you call him an equal opportunity candidate? caller: well, when i mean by goes across the board on all the issues. he is not just conservative, is not just liberal on certain issues. he really can reach everybody. because the thing that people has to stand is in order for somebody to win the presidency, t

symbolism in choosing spence avenue, a very iconic street in washington, d.c., to hold this march. and we marched every step if start to finish, nearly a mile, with the protesters. we met people if all over pennsylvania, connecticut, florida, all who had either driven overnight just to be here. and they all had one message for congress. that specifically was that they want to see change. they want to see a change in the law. and they do want to see hearings in the new year. here is a bit from one conversation i had. >> black lives matter. one day i'm going to have a black child. i want him to be safe in the united states. >> what do you think being out here will accomplish? >> i think it's showing everyone that everyone is coming together to take a stand. racism can no longer be a thing. >> you're marching to capitol hill. what is your message to congress? >> our message to congress is to take black lives seriously and make changes so we all can live in america and see the land of the free. >> it is emotional for you to be out here today? >> to me this is the most beautiful thing t

and if you look at those three guys, evan tougher are in, spence sr.us young that was their core in present 14. allotheism goat traded now you have a young team and they're growing. the flyers might make the playoffs. >> that's true. they lost to the rangers in the first round. so the team of 2014? you can't. because i got the answer. >> okay. >> 13 year olds team of the year in philadelphia in 2014 are the taney dragons, south philadelphia's own of course what great run to the little league world series and they really were the talk of the nation. highlighted by our girl mo'ne davis who made the cover of sports illustrated, karen i group saying you throw like a girl. after watching mo'ne throw -- >> yes. >> you want to throw like a girl. she was the biggest story in america. she did the talk show circuit. >> yes. >> on letterman. what an inspirational girl. already super star. if there's bright spot in philadelphia sports in 201413 year olds. >> i definitely have to agree with you on that one. have a wonderful and happy new year. may it a better than

when i arrived here floyd spence was the chairman of the committee, and he and everyone right up through ike skeleton have made it a priority to number one, work with the other side. buck, from the very moment he was elected and the moment i was elected as ranking, reached out to make sure that bipartisanship started at the top and flowed down throughout the entire committee. the second piece of it is is the absolute commitment to getting the bill done no matter what. the chairman has just been outstanding in that regard. it's been a tough four years, many challenges have cropped up, but we have met every one of them and been able to get the bill done. so i thank him for his leadership. i want to thank the chairman on the senate side as he's retiring as last year's chairman. he show eded a similar commitment and had an even more difficult time over there. he and senator inhofe were having a conversation a couple days ago as we were trying to figure out how to do this to explain the rules. i'm never going to understand them. just don't explain them. here's nothing i can do about it. that'

in es spence the blank check so cold.still what the germans thought they were agreeing to is the austrians would make some kind of a move against serbia. didn't quite work out that way. four weeks passed the austrians are dithering and delaying. finally on the 19th of july they hold the war council, this is in berthold's residents in vienna. the strudelhoff, yes that actually means the house of strudel, where they got together to plan the war, the staging of the war. by then they'd taken so long they were coming up against the fact that a presidential sim mitt was about to take place at st. petersburg with the president of france along with viviani who was premier and foreign minister and they didn't really want the french and russians to be able to coordinate a response while they were toasting champagne so they waited until after they left and sent telegrams to petersburg asking about details. unfortunately the russians had broken the austrian code so they were reading these telegrams. in the end they didn't even learn

when i arrived here floyd spence was the chairman of the committee, and he and everyone right up through ike skeleton have made it a priority to number one, work with the other side. buck, from the very moment he was elected and the moment i was elected as ranking, reached out to make sure that bipartisanship started at the top and flowed down throughout the entire committ committee. the second piece of it is is the absolute commitment to getting the bill done no matter what. the chairman has just been outstanding in that regard. it's been a tough four years, many challenges have cropped up, but we have met every one of them and been able to get the bill done. so i thank him for his leadership. i want to thank the chairman on the senate side as he's retiring as last year's chairman. he show ed a similar commitment and had an even more difficult time over there. he and senator inhofe were having a conversation a couple days ago as we were trying to figure out how to do this to explain the rules. i'm never going to understand them. just don't explain them. there's nothing i can do about it

caller: mike spence is not been __ my experience has not been good at all.k for the third_largest software manufacturer in the united states. i had to negotiate from 85 $15 __ from $815_$730. host: explain that. it went to $730 under the negotiations? caller: correct. on top of that, tthe industry is changing, of course, i have an hmo. now, i have coverage __ it does not cover some things. i have higher co_pays. i'm sitting here, i don't even want to go to the doctor, it cost me $50 out of my pocket just to go to the doctor. host: can ask you how much you make. caller: i make about $20 per hour. i'm not poor. in 2015 __ if that plan gets put into effect. now, it has been rescinded, my membership was restricted by the government on how we can negotiate a contract. our company change millions of dollars __ my membership, and we're taking a beating. my health care has at least doubled. i took a 15% increase because of the affordable care act. 23% increase. how is this good? host: that was michael. we will go to shane next. caller: i have not had __i'm actually

when i arrived here, floyd spence was the chairman of the committee, and he and everyone right up through ike skelton who was mr. mckeon's predecessor, had made it a priority to, number one, work with the other side. buck, from the very moment he was elected and the moment i was elected as ranking, reached out to me and made sure that bipartisanship started at the top and flowed down throughout the entire committee. the second piece of it is, the absolute commitment to getting the bill done no matter what. again, chairman mckeon has just been outstanding in that regard. it's been a tough, tough four years. many challenges have cropped up but we have met every one of them and been able to get the bill done. i thank him for his leadership. i also want to thank chairman levin on the senate side. he's retiring. last year as chairman. he showed a similar commitment and he had an even more difficult time over there. he and senator inhofe were having a conversation couple days ago as we were trying to figure out how to do this which they were trying to explain to us the senate rules. look, i'm n