please join me in becoming white house senior director for middle east and north africa, steve simon. [ applause ] >> thank you. steve's introduction reminds me of something i used to say before i came back into government when i was asked about the arab spring which was since i didn't see it coming, how do i know where it's going? i still feel like that a little bit. anyway, thank you all for being here and inviting me to join you this morning. it's an honor. it's truly an honor to address such a distinguished group. let me start by thanking all of you here today for the work that you do every day through the anti-defamation league to advance and protect our most fundamental american freedoms and values. for nearly 100 years, you have been on the front lines of the freedoms that americans cherish whether by combating anti-semitism here and around the world, by standing up against hate crimes, or by speaking out against anti-muslim bigotry. your work is in the finest american tradition, and your voice is an important contribution to our discourse, our national discourse on all of thes

please join me in welcoming white house senior director for middle east and north africa, steve simon. [ applause ] >> steve's introduction remind me of something i used to say before i came into government when i was asked about the arab spring which was -- since i didn't see it coming, how do i know where it's going? i still feel like that a lot

as steve simon said to you about how iran cannot even access 60% of its reserves. that's important. but that gives america more of a chance to try to wait it out. to see what maybe sanctions will buy you. if you have more capabilities you can wait longer. if you're not a super power and israel is not a super power. you're very cognizant of the fact that your capabilities are more finite. and therefore your window for action is tighter. you have a tighter timetable, but we're not sure you can. it's na asymmetry. a military power between the united states and israel that means it's not closed. one word, you get to take away one phrase the talks are not sin kronized. and that is the concern because of this asymmetry in the military capability. does this window close at the end of this year. i agree with aaron miller there's no immeant attack. israel wants to see how the sanctions play itself out. there's no diplomacy going on between the u.s. and the merm innocent five members of the security council on iran. it's unclear if a deal is going to be done. israel's fear is that the iranian

as steve simon said to you about how iran cannot even access 60% of its reserves. that's important. but that gives america more of a chance to try to wait it out, to see maybe sanctions will bite because if you have more capabilities, you can wait longer. if you're not a super power, and israel is the not, you're very cognizant of the fact that your capabilities are more finite. and, therefore, your window for action is tighter. you have a tighter time table. you would love to wait it out. but you're not sure you can. and it's that asymmetry between israel -- between the united states and israel that means these gaps are not closed. if i had one word, if you had to take one phrase from this talk, the clocks are not synchronized. and that is the concern because of this asymmetry in the military capability. now, israel's window close at the end of this year? we don't know. i tend to agree with aaron miller that there is no imminent attack. israel wants to see how it plays itself out. there's now disproceed proceed massey. unclear if a deal will be done. israel's fear is that the irani

steve. >> simon, thanks very much. just got off the phone with a spokesperson for the imf who is playing down this story of talks of financial aid or discussions of contingency plans. it's something being done internally at the department, not discussions with spain. and that's the important distinction that the spokesperson was making with me. this person described the contingency planning as a normal part of fund business and said that it is normal to look at different scenarios for the department to look at. that's part of what they do. they visit the country once a year but also do contingency planning. this is an important issue relative to what's going on in spain. we understand the vice president of spain will meet with the imf chief christine lagarde later on this afternoon. but we are told they will not be discussing a rescue plan at this time. we're also told, and i caution on this next piece, we haven't had a chance to confirm this with geithner, with the treasury department, but they will also meet with gei

. >> steve, simon, we have to leave it there. it's going to be a long and interesting summer, sue. >> indeed it is. pep boys has been getting slammed today. the stock has been down about 20%. last trade is down just about 20% and change at $8.87. that's because of the sale of the company to private equity firm gores group has been canceled. they'll get a $50,000 termination fee reimbursed for some of the attempted merger-related expenses. >>> zynga investors are poed. shares are down 30% in a month trading in the 5.90 range. julia boorstin joins us live. hi, julia. >> hi, sue. well, the ceo just left the stage moments ago. as you might have guessed, his company's reliance on facebook was very much in focus as is the fact that zynga's stock is down about 27% just in the week and a half since facebook's ipo. he really deflected questions about zynga's stock price insisting he's focused on running his company's product, not the market movement saying in defense of his company and others that -- we have this quote here. the crop of c

and then steve rat ner, he says investors shouldn't buy individual stocks ever. i'm sue herera with simon hobbs down at the nyse. and tyler mathisen is at a special mutual fund conference in washington. we'll hear from ty coming up. but first, breaking news on greece. the third greek leader this week to try to form a government says he's closing in on a deal. but this greek drama is far from finished. michelle caruso-cabrera just finished speaking exclusively with greece's new most popular leader. but he would not be included in this particular government. michelle. >> no. it is confusing. the man i spoke with this morning is alexis tsipras. we care about what he has to say because now according to dow jones, there are new polls today showing he is the front-runner if there are new elections in june. tsipras caused turmoil in the financial markets this week when he said in his opinion the greek bailout program is null and void. that led market participants to believe that greece could potentially leave the eurozone and return to its own currency. when i spoke with mr. tsipras

and he saw that with steve jobs, he always wore that uniform. >> dan simon, nice to see you. >>> we'rezer who's live in the situation room. >>> happening now, a new attack by the obama campaign targeting mitt romney in critical battleground states thinking the republican nominee is

steve kroft. >> stahl: i'm lesley stahl. >> safer: i'm morley safer. >> simon: i'm bob simon. >> cooper: i'm anderson cooper. >> pelley: i'm scott pelley. those stories tonight on this special edition of "60 minutes." wow! who delivered these pizza dipping strips? oh, they're not delivery. they're new digiorno pizza dipping strips. with two sauces? who needs delivery? [ horn honks ] that guy. [ male announcer ] twelve pizza strips, perfect for dipping. it's not delivery. it's new digiorno pizza dipping strips. ♪ [ male announcer ] instead, try the new subway smokehouse barbecue chicken, big bbq taste 6 grams of fat. subway. eat fresh. is now within your grasp with the all-new e-trade 360 investing dashboard. e-trade 360 is the world's first investing homepage that shows you where all your investments are and what they're doing with free streaming quotes, news, analysis and even your trade ticket. everything exactly the way you want it, all on one page. transform your investing with the all-new e-trade 360 investing dashboard. transform your investing fore! no matter what small business you are in, ma

steve kroft. >> stahl: i'm lesley stahl. >> safer: i'm morley safer. >> simon: i'm bob simon. >> logan: i'm laraogan. >> pelley: i'm scott pelley. those stories tonight on "60 minutes." recently, students from 31 countries took part in a science test. the top academic performers surprised some people. so did the country that came in 17th place. let's raise the bar and elevate our academic standards. let's do what's best for our students-by investing in our teachers. let's solve this. drop in now for sears' big memorial day event. right now, get up to 30% off all kenmore appliances and floor care. plus, get up to 15% off all other brands. and, an extra 5% off all appliances with your sears card. sears. number one in appliances. perfect golden color. rich in fiber. my dad taught me, and i taught my son out there. morning, pa. wait... who's driving the...? ♪ 99 bushels of wheat on the farm, 99 bushels of wheat ♪ [ male announcer ] yep, there's 8 filling layers of whole grain fiber in those fun little biscuits... so they stick with you, all morning long. kellogg's® mini-wheats cereal. [ mini ] yee h

steve kroft. >> i'm lesley stahl. >> i'm morley safer. >> i'm bob simon. >> i'm lara logan. >> i'm scott pelley. those stories tonight on "60 minutes." [ female announcer ] e-trade was founded on the simple belief that bringing you better technology helps make you a better investor. with our revolutionary new e-trade 360 dashboard you see exactly where your money is and what it's doing live. our e-trade pro platform offers powerful functionality that's still so usable you'll actually use it. and our mobile apps are the ultimate in wherever whenever investing. no matter what kind of investor you are, you'll find the technology to help you become a better one at e-trade. i wish my patients could see what i see. ♪ that over time, having high cholesterol plus diabetes... or family history of early heart disease... can put them at increased risk for plaque buildup. and they'd see that it's more important to get their cholesterol where their doctor wants. and why for these patients, when diet and exercise alone aren't enough, i prescribe crestor. adding crestor lowers bad cholesterol by up to 52%. and

and he saw that with steve jobs, he always wore that uniform. >> dan simon, nice to see you. >>> we're going to toss it now to wolf blitzer who's live in the situation room. >>> happening now, a new attack by the obama campaign targeting mitt romney in critical battleground states thinking the republican nominee is simply out of touch with working people. >>> going one step further than president obama on same-sex marriage. james clyburn standing by live to explain his stance. >>> the banks that were too big to fail are bigger than ever and still making multimillion dollar bets. i'm wore blitzer, you're in "the situation room" of . the latest skirmishes are being fought on college campuses with both president obama and mitt romney but neither candidate is saying much -- not saying much at all about same-sex marriage. our chief white house correspondent jessica yellin is joining us from new york so. jessica, what exactly did the president say when he addressed the graduates today? >> reporter: the president had a real message of empowerment and a little bit of politics. from president o

i think he's an irreplaceable person that -- steve was an original, and i don't think there's another one of those being made. >> dan simonus from california where the conference is being held. dan, you were at the event. cook, he talked about the last advice that jobs gave him before he died. can you share it? >> reporter: yeah. first of all, this is the first time that tim cook has spoken out publicly at a forum like this taking questions from both journalists and executives, and there was a lot of talk about steve jobs last night, and he talked about when he actually met with steve jobs shortly before his death, and one of the things that steve jobs told him is that don't try to be like him, don't have employees ask what would steve do? he said steve jobs related to him that's what happened at walt disney. when walt died, people would ask what would walt do. tim cook says he's focused on trying to run the company the way he thinks it should be run. he also talked about his grief over losing steve jobs. here is a little bit about what he said. >> at some point late last year i sort of -- somebody kind of shook me and sa

steve: the accent is on. >> brian: as lauren pointed out, it's just like being british. fantastic. so simonoming your way, now that he's a single guy. >> alisyn: i'm sure he's very chill russ. >> brian: on behalf of men, we're angry. >> steve: next up on this program, first terrorists. now we have to worry about anarchists. five men busted for plot to go blow up that bridge. does class warfare have something to do with that? peter johnson, jr. is up next. >> brian: plus, a lesson in disorder? one college offering a credit for students who protest businesses. especially ones the teacher doesn't like wake up! that's good morning, veggie style. hmmm. fohalf the calories plus vgie nutrition. could've had a v8. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying..

simon is joining us with more. let's read between the lines. what do we know? >> reporter: first of all, wolf, stevesince then the company's had several hit products and record revenues along the way and now we're getting a better sense of the man steering the ship. take a look. >> steve was a genius and a visionary. >> reporter: apple ceo tim cook describing what it's been like to follow a legendary icon. speaking in a slow, deliberate tone, steve's death represented the saddest days of his life. >> steve was an original and i don't think there's another one being made. i am who i am and i am focused on that. >> the transition has been a smooth one. apple profits have hit record levels and criticism surrounding abuse of workers at chinese plants is starting to wane a bit amid a series of changes. it prompted changes about why apple products are not made in the u.s. instead they're manufactured overseas, mainly in china. >> but manufacturing itself is looked at and said, you know? somebody else can do this as good as we and is that still true? >> it changed? >> i think it's still true. >> will there

simon cowell, ask him why he picked a dog. >> brian: he is not my best friend. stallone is still my best friend. >> stevenveil a new animal talent show. >> brian: or animal planet. >> steve: or the whole planet. >> gretchen: let's see what wendell goler thinks with that. a week after president obama announced his support for same sex marriage, he'll be attending an lbgt fund-raiser. wendell goler joins us to talk about that. good morning to you. >> i'm with you on the dog, gretchen. the obama campaign however, posted a 6 minute video on-line today with former workers at a kansas city steel mill that was bought by bain capital when mitt romney ran the companier. the mill was restructured and eventually closed down. it's an attack on romney's claim he's use his business experience to create more jobs than mr. obama has been able to in his 3 1/2 years in office. the president's campaign will run a 2 minute version of the video as television ads in the battle ground states of iowa, ohio, pennsylvania, virginia, and colorado. part of a $25 million ad campaign. it plans for nine states over the next month or s

so simon, pretty good numbers there and we'll really be looking for whether or not that money starts coming out of corporate treasuries. >> stevethank you very much for that. we'll talk about jp morgan's annual shareholder meeting. first, some insight from a money manager whose top holding remains the bank, jp morgan even after the bank exposed his $2 billion trading blunder. has nearly $20 billion in assets under management. good morning. >> good morning. so in a nutshell, what do you feel about what happened at the end of last week? how would you describe your emotion? >> well, it was a surprise, i think, to everybody. and it was an unfortunate situation. but it's important to put it in perspective from a financial standpoint. $2 billion is not chump change, but it's also small in relation. >> todd: jp morgan's overall size with a $2.3 trillion balance sheet and $7.6 billion that they've made in the first quarter. >> and, yet, if you look at price action, what did we lose in market cut? 15, $16 billion? at a time when jp morgan is buying its own stock because it has the mandate for shared bye back. >> so it's a good opportuni

steve is off the reservation with more governors than you can shake a stick at. that can also mean sometimes he's crazy. >> obviously, that's not what i meant. >> all right, simon, minutes. that's it for this morning's stocks to watch. b.p. 30% better than its quarterly profit. that stock trading lower by about 2.5%. cosco buying the deutsche bank to close in on the price at $89 a share. also, they're worried about cost cuts that began last summer. abercombie and fitch, over at city, the stock is up by 5.5%. profit and higher revenue boosted by increase in subscriber prices at the beginning of the year. that stock is higher by 1.25%. as the company saw a margin squeeze. >> she talked about emerson. one of the weakest performers. an exceedingly difficult as sales took a hit from supply change disruptions. the ceo says europe and china will not approve to the degree we expected 90 days ago. they had much different expectations than they do right now. >> what a change. especially in spain and all over the continent. >> we are also watching pss, which is the collective brands being acquired by group private equity firms, wolverine, golden gate, all acquiring the com