steinberg like would likely there no better. >> the problem is the opposition can visit these areas, but if stein grew upward to do that right now, he's not in any kind of office. -- if stein grew a quirk to do that right now, he's not in any ind of office and cannot offery any kind of help. >> few are really sure what needs to be done, but many believe merkel is a good crisis manager. the opposition barely has a look in. >> when it comes to the euro crisis, the important thing is who do voters believe is most capable of dealing with the crisis and leading germany through it well? who will best represent german interests in europe? there once again, angela merkel hs clear advantage over her challenger. > but it's not clear if merkel's junior coalition partner will gain enough votes to enter parliament. if not, it would be the social democrats who would be most likely to join merkel's cabinet and a grand coalition of the two biggest parties. and 100 days before the election, polls show that would be voters' preferred outcome. >> turkey's prime minister has called on protesters occupyi

steinberg like would likely there no better. >> the problem is the opposition can visit these areas, but if stein grew upward to do that right now, he's not in any kind of office. -- if stein grew a quirk to do that right now, he's not in any ind of office and cannot offery any kind of help. >> few are really sure what needs to be done, but many believe merkel is a good crisis manager. the opposition barely has a look in. >> when it comes to the euro crisis, the important thing is who do voters believe is most capable of dealing with the crisis and leading germany through it well? who will best represent german interests in europe? there once again, angela merkel hs clear advantage over her challenger. > but it's not clear if merkel's junior coalition partner will gain enough votes to enter parliament. if not, it would be the social democrats who would be most likely to join merkel's cabinet and a grand coalition of the two biggest parties. and 100 days before the election, polls show that would be voters' preferred outcome. >> turkey's prime minister has called on protesters occupyi

two guys they indicted matthew martoma, michael steinberg.artoma, former portfolio manager. steinberg, current portfolio manager. they would love tem to turn evidence. melissa: they would, and they haven't and isn't that interesting. what does that tell you? they put pressure on the guys who could go to jail a long time. >> decades. melissa: right. and wouldn't you think that if they could implicate someone gher up t food chain that theywould do that? they're sound much pressure. >> either they will, either they will implicate somebody higher up the food chain to save their own necks, or there is no there there. what t justice department is trying to get them to do they can't do. >> we're reading the tea leaves here. we're not in the room. i can tell you when i talk to justice department officials you guys in the press you get half the stuff wrong. it is tough when you're outside. i would say this, the grand jury thing was kind of smarmy. they knew that steve cohen if they gave him a grand ju subpoena was never going to testify. guess what th

darrell steinberg and marke1 le% the state senator from san this stuff and said they will voluntarily t(it? what was the motivation. >> it was budgetary. markxd leno chairs the budgett( committee thate1 drafted the budget trailer bill that was gut4 ande1 amended to contain thisok language and it wasok discovered to set off theÑi firestorm of criticism. there as we werejf discussing earlier v"xráuj theories about why7oo this all went down theuk it did. the way it was resolved, they sed light on it. they backedc off after every board took them to task after ever good group complained about they agreed to leave things as they are for a year. next year wet( are going to see lf=9mq%quq%=91 amendment thatl will enshrine our state public records act which is axd statut in our state constitution. by doing so, they removeç!jeÑ fm the realm ofçó things thati] ar the state pay for the mandates and say that localt(çó agenciest pay the costs of the records act requests that they receive. it's going to be hard for anybody toxdÑz(Ñi oppose this m. no city wants tow3 say we are againstx+oçñr relea

welcome, hank steinberg. writing for television and writing a novel. >> writing for television is very immediate. you know if you're episodes a year, something will shoot. you're doing it off the seat of your pants and you're not being professionistic. someone's going to direct it, someone's going to light it, it's going to go. when you're writing a novel, you're all alone in the dark little room hoping there's a reader out there somewhere. it's also kind of a straighter line between you and your readers/audience, because you know it's not going to be interpreted by all those people in the middle. >> right. >> and, you know, every word is going to be, you know, absorbed and when you write a screenplay, you kind of know, you might just say, you know, interior bar, it's a dive, period, that's it. you know the production designer is going to come in and they're going to interpret that. so it was a very gratifying experience. i always wanted to do it. ever since my "without a trace" days, i kind of found the righ

elected officials such as house minority leader nancy pelosi, representative mike honda and darryl steinberg. among the topics, guns, immigration and marriage equality. the supreme court is expected a issue a ruling this week on the same-sex marriage ban. >> i think the likeliest outcome on prop 8 is we're going to win one way or another on prop 8 from this supreme court. i think we may hear on monday. that's pretty likely. if not monday, by the end of the week. and we'll very soon have marriage again for every loving couple who wants access to it in california. >> this is the first time in the group's eight-year history that it's holding an event in california. we have extensive coverage of the pending decisions by the supreme court regarding gay marriage. cheryl hurd will report from washington, d.c. monday morning and we'll have reports from across the bay area when the ruling comes down. >>> still to come, how a new classification for obesity could change the way some people deal with their medical insurance and their doctors. >>> the american medical association is now classifying obesi

it features nancy pelosi, representative mike honda and state senate pro tem darrel steinberg. among the topics, guns, immigration and marriage equality specifically prop 8, the supreme court is expected to issue a ruling on the same-sex marriage ban and many are optimistic of the upcoming decision. >> i think the likeliest outcome is we'll win, we'll win one way or the other on this supreme court. we'll hear monday if not monday i think we'll hear by the end of the week and we'll very soon have marriage again for every loving couple who wants access to it in california. >> this is the first time in the group's eight-year history that it's holding an event in california. >>> we have extensive coverage of the supreme court decision regarding gay marriage and cheryl hurd will be reporting from washington, d.c., starting monday morning and we'll have reports from the bay area when the ruling comes down. >>> next, a horrific crash at a midwest air show kills two people and stuns spectators why officials say the show must still go on. >>> formal charges of espionage have been filed

senate president pro tem darrell steinberg has also proposed the program to make a difference regarding mental health services in california. we're doing exactly the opposite. in 1987, voters were asked to approve a 185-bed murf costing 39 million. nine years later it opened, but with only 147 mental health beds. now they want to drop it down to 24. you can't keep doing this. i direct you to my report. who's dumping grandma available on my website www.stop [speaker not understood],.com. you bifurcate this cut and return it to the department of public health. the full health commission did not discuss the bielenson cut to the murf. they didn't discuss their budget submission b1 or f9. and they also didn't discuss an increase to that is pending before you to increase out of county contracts for mental health services in other counties. you need to supplement from this back to their committee [inaudible]. >> thank you very much. one thing i want to announce as is the typical policy of this board. if there are seniors, if there are folks who are elderly, if there are parents who have young

let's find what entrepreneur and amanda steinberg, founder of daily worth, a finance media company for women, think about this pitch. >> hi, my name is dwight peters, i'm the founder of crowd cases. we are a tech accessory brand with a social mission. we help nonprofits fund raise and build awareness by finding and smelling smartphone cases that represent their cause. they are sold on our site. $7 from every case sold is donated to the nonprofit of the week to help fund their social mission. our goal is to inspire generosity and intentional giving by fusing multibillion smartphone accessory market with the multibillion cause market. what's unique is how we come up with the design. we use their talents to change the world. every week we partner up with a nonprofit organization and we issue a design challenge to our community of graphic designers. after seven days of submission a winning design is selected and turned into a winning edition and the winner designer wins 500 buck. we're seeking $100,000 for a 20% investment in our company. join the crowd. cro crowdcases.org. >> i see why yo

michael steinberg, another former hedge fund manager.ck up a little bit for people who may not be that familiar with fac. you get the bridgewater guys. charlie: 1996, he charges more than anybody. you will see people at the justice department and they will say anyone that is that good has to be cheating. that is essentially what they beleaguered we should also point out, they are 67-zero. liz: charlie, think you. exclusive aspects of the story. closing bell ringing in about 16 minutes. we are giving you a sneak peek at the upgraded windows eight. will all these changes be a calm moment or microsoft? should it be in or out of the portfolio? plus, we are dying to hear if you that microsoft is getting its mojo back. ♪ everybody has different investment objectives, ideas, goals, appetite for risk. you can't y one size fits all'. it doesn't. that's crazy. we're all totally different. ishares core. etf building blocks for your personalizedortfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by

. >> reporter: bobbi steinberg rode out the tornado in the basement of the neighbor's house.e returned to above ground, the place she called home in el reno, oklahoma was gone. >> i guess it was our time and -- so, you know, we just have to take it one day at a time. >> reporter: now she faces the same task that so many other people in the heartland are facing. they are picking up, clearing out and starting over. >> i have so many great friends and relatives helping. >> reporter: the severe system broke out on friday, tearing a path of destruction -- across the midwest. in oklahoma, three storm chasers died. floodwaters swept people away in at least three states. the search continues for some who sought shelter from the twister. but likely drowned and were swept away. >> this happening friday night, the likelihood and the chance of a survival of this would be slim. >> reporter: the neighborhoods are in ruins. schools, heavily damaged. cars smashed and trucks toppled. this will be a long recovery process. but with a little help steinbergen says a fresh start is possible. >> ye

the national child advocate group staged a large scale search for elanna ste steinberg. her mom was september to jail on child engagement charges. >>> the court marshall of arm private bradley manning is moving into its 3rd week. manning is on trial for leaking classified documents to website wikileaks. the government prosecutors say some of those documents assess the threat levels of terror suspects. they have more than 100 witnesses to call and a quarter of a million diplomatic cable to enter into evidence. >>> as manning trial's continues the founder of wikileaks remains if political asylum. the fate of julian assange is being discussed by politicians from ecuador and britain. >> the quarters cheered as wick founder julian assange waived from a window at the ecuador em baa say in london to mark the one year anniversary of his asylum this week. ecuador's former minister came to see him. ricardo patino held talks to try to end the political stand off. the pair agreed to set up a team of legal experts from both sides to break the diplomatic deadline. he was granted polit

steinberg in august. that's when we know, that's when you know the case coming against cohen. this, i talked to enough government investigators on this, they are having a hard time bringing a case. so what you have today is sac capital possibly out of business as, he can manage his own money, but as a hedge fund under suspicion he will be charged. that is really scary stuff. lori: we know you're on it, charlie. thanks. melissa: all right. as we do every 15 minutes let's check the markets. ben willis on the floor of the new york stock exchange. ben, all three of the major indices posting loss this is afternoon. the dow, it is accelerating right now, down 121. what is your take why this is happening? >> well i think the market is long due for a correction. it has been a fools trade to try to anticipate if it is actually going to follow through. we haven't had three straight down days or anywhere what could be considered a technical correction in this entire year. we have not seen a run like that since the 1930s. so it is somewhat of an easy pull back. it may have started the oth

he's requested to speak with assistant deputy superintendent rachelle steinberg in order to plead hisase. >> how you doing? >> i'm all right. >> i dealt with him for probably the last five or six years whether it was in classification or in my current capacity as a assistant deputy superintendent. >> you made a comment to the officer. >> he's a very smart individual. however, he's very manipulative, knows how to get what he wants, and knows how to play the game. he's a good talker. >> i just want to see if i can get this straight. you're telling me that whole 4 1/2 months i slipped up one time and everything goes down the hill. that's what you're telling me? >> no. you had a choice and you made a choice not to do what was asked of you. >> i just can't -- i really don't understand that because it all started off in the morning. >> yeah. >> about some juice. i didn't want to pour the juice. i had other issues going on too but everything was adding up. you know what i'm saying? >> yeah. >> you have to look at positive side. he caught a ticket, but he didn't catch a ticket for threatening

david steinberg, managing partner at. he says the equity market is the only place to be. he has three-ways to play it. phillip strike bell from the pits of the cme. phil, i want to start with you. looks like no one knows exactly how to play the market now. up an downsides go 30 times trading between each other swinging on both side of trades. what do you think will happen next week? >> i think the summer selloff is here. i think we'll continue to march down. if you look at market today, back and forth, a lot of action that is a lot of guys covering short positions. i think if you look at the crude oil market, that confirms that downtrend. that was a market that didn't recover at all today. down about a percent 1/2. bernanke said it right. with them looking like they're going to pare off that qe come september, you have got china really slowing down. chinese imports for oil was down 6% from the month of may. i think oil prices continue to slide, break down. i think copper also follows and the whole market just goes with it. liz: let's move to treasurys because our investor

it doesn't mean it wasn't necessarily incorrect and that they won't get steinberg, but it was a very in that were alleged to be 25 million in the tens of millions as opposed to a quarter billion which made martoma ill gotten gains in the history of insider trading cases. >> kate, thank you. >> thank you. >> when we come back, or by the way, lululemon has officially brought back its black yoga pants after making changes in the material, so the banks are no longer sheer. you'll remember this was a big problem and it does bring us to this morning's squawk on the tweet. help lulu out. what was the tag line for the pants that were once see-through and now they're not. tweet us and we'll get your responsees. >> i would like to see jane give it a try and see how transparent they are. >> we've gotten a few winners. >> keep them coming and even some of the most bearish people on the street are turning bullish. >> take a listen to what mariel ribini toldous closing bell. >> between economic activity and the emerging market being weak, but it's a lot of liquid with qes in europe and japan. >> f

rich steinberg is president and ceo of steinberg global asset management.to see you this morning. >> good to see you. >> come on, we're not trying to remember fwa2008, really, are w? we're just spooked by what the fed said or didn't say or their inability to say what they wanted to say. >> i think professional investors feel that way, but we deal with a lot of high network people, so we're getting calls, you know, which you would be doing. and one of the big problems is people always have their asset allocation partly in bonds, and over the last couple years, basically, the wind was at their back. now all of a sudden, they're seeing their whole asset class kind of moving in sync, and i think it's stirring memories. and one way that i would describe it is people mark their portfolios to market differently than in the past, so, as the markets were up now, as the markets were pulling back, you would typically say oh, it's a pullback, it's part of the cycle. people are starting to associate that more as i've lost versus giving up part of their gains. >> where a

rich steinberg of steinberg global asset management. ed, we've been talking for a while about how there could be a selloff, 5% to 10%. we've got 5%. does it stop here or do we go a little further. >> basically the fed told us they're going to take the training wheels off over the next year. as long as the economy is strong enough to support it, i think the economy is strong enough to support it. the only reason that isn't obvious to everybody is because of the tremendous amount of fiscal drag that came from the tax increases and the spending cuts we've had this year. that's going to wear off. by the time we get into next year, by the time the fed really does take the training wheels off, i think we're going to be growing at 4% or more. >> you think the fed is making all of these noises right now for the right reasons? they see the economy growing and you believe that, too? >> yes. i think they have been afraid of 1937. that is they didn't want to move prematurely and send us back into another great recession. they have been pumping mone

. >>> darrell steinberg will be joining key national leaders in the movement against gun violence.n an hour from right now, they will be meeting at the san jose convention center. in the six months since the deadly sandy hook elementary school shooting. more than five 500 -- more than 500 have become else have of gun violence. -- victims of gun violence. >>> well, sonoma county's craft brewers are really having an economic impact. they are sipping the success of adding 123 million to the local economy. those numbers are coming from a new study by the county economic development board. craft beer sales by volume went up 15% nationwide last year, be they jumped 41% in sonoma county. that's where the industry supports 500 jobs. >>> all right. 7:55. let's check in with tara in for sal. what's going on in the east bay. >> we have an accident in hercules. one with a big rig hauling ten portable toilets on 80 eastbound on highway 4. definitely want to stay away from there. there's problems on highway 4. westbound at hillcrest avenue, you can see the backup there. we'll keep an eye on it f

coming up on radio, we're going to have jennifer griffin, craig carton, hank steinberg and you can listenks radio kilmeade and friends nine to noon. i think we get to find out where maria and steve are. >>anna: they're on the plaza but it is looking different. >> it is caribbean week. we are going to be talking about caribbean flavors in terms of food and alternatives to hot dogs and hamburgers. if you're tired of that, we have recipes to switch it up. i want to start with the weather. if you're headed outdoors today in new york city, in new york city it is going to be a beautiful day. a lot of sunshine, low humidity. very pleasant temperatures, in the 70's. as we head farther west, look at today's severe weather threat. parts of texas, oklahoma, kansas and even into missouri are expecting showers, thunderstorms. and some of these storms could produce isolated severe weather in terms of large hail, damaging winds. an isolated tornado thread, we don't think this will be near as bad as the severe weather we saw last week. tomorrow more severe weather expected from texas into sections of ark