we ended up taking tarp. and what's interesting, john. why did they want us to take tarp? head of the federal reserve, bernanke, one of the students of the depression. >> stossel: during the depression, when it was known that the bank was taking money. >> he had three banks going to fail and needed the healthy banks to make it look good. it was a ripoff for the banks ab we never had a single quarterly loss and stress stes, you've got way more capital. >> you've been more outspoke been freedom and you started doing this after you read a book called capitalism, the unknown ideal, and this opened your brain? >> it did. and a huge influence on my thinking. in fact, interesting story, one reason we didn't get in trouble in subprime lending was because of our philosophy. and a lot, it's strange, but a lot of people see greed on uawed -- leading to subprime lending. making affordable housing loans was a good thing. >> and government policy, fannie and freddie guaranteeing all of these loans and the government encouraging you to lend to people who might have risky credit? >> the b

that may not be exited in the tarp investment for years to come, jon.esident was bragging on gm in his state of the union but the stock price is less than half where he bought it? >> reporter: that's exactly right. the full investment in gm is about let's say $52 billion, a little over $52 billion. we're still waiting to see whether or not tarp can make money on any of these companies. we know that the gao is already estimated based on an audit of treasury's financial statements that taxpayers could eventually see losses of $70 billion despite what you're hearing from the government that taxpayers will make money on tarp investments. could be up to $70 billion or even more in tarp losses. back to you, jon. jon: i would like to handle my own investments. >> reporter: there you go. jenna: like to handle my own too. jon: don't give me your money. jenna: republican voters are still trying to decide who the strongest candidate is to go up against the president come november. larry sabato will join us next with a look at his crystal ball predictions. [♪...] >

what does the tarp represent? >> to us it is -- you know, the idea we can't sleep here. it causes us a lot of grievance because, you know, sleep is our time to recuperate and re-energize and get ready for the next day's actions. >> reporter: they were meet and discuss whether the tarp will come down. meanwhile, a group of occupiers are at the federal courthouse in d.c. supporting a suit that's been filed against the department of ink tearer. it is sinking -- seeking a temporary restraining order. >> we had a petition with about 19 thousand suggests on it gathered in -- i think two days, day and a half. and so the -- the cordesition today is whether or not we will be able to camp in the park. and sleep in the park. >> reporter: so occupiers say that they are now waiting for two things. first of all, they want to see how things are going to go in court and if they will be able to stay here and camp. after that, they are going to have a general assembly meeting and get everyone together ask decide whether the group opposes that tarp being taken off the statue. tracee wilkin

there's a big tarp there. >> reporter: it's a huge tarp. to the rules i looked up t is against the rules here at the park to deface that statue. so it's unclear as to how long park police are going to let this activity continuing, but i should tell you since our last report which was interrupted a bit by an occupier who was pretty vocal, police have actually responded here. several park police officers are patrolling the area here around mcpherson square. apparently another news organization is here and had called the police after some unruly protesters but i can tell you i've done plenty of stories on these folks and most of them outside of some bad apples are staging peaceful demonstrations this evening and this early morning i should say. just after yesterday's noon no camping deadline, the protesters erected that blue tarp called the tent of dreams over the statue of major general mcpherson. many say they are staging a sleep strike or simply sleeping elsewhere during the day so they can maintain a presence here at night. they all tell m

the blue tarp draped over mcpherson's statue. protesters told police they would take the tent down if they were awloud to camp there. which is not likely to happen. if police do decide too evict the protesters, police have to give them notice, and the protesters can contest the eviction. tracy wilkins has more. 3467 u.s. park police enter the camp. occupiers check tents to make sure no one was sleeping. they enforced the no camping rules on monday and are threatening to arrest anyone found sleeping. occupiers are waiting for the police to evict the group enmass. when police came this morning they weren't coming to kick them out. >> we can't allow stuff like this. we hope you'll come to compliance, and we're requesting you take the tarp down. >> reporter: police wanted the protesters to take down what they call the tarp of dreams. a tents like structure they put up yesterday afternoon over the park's statue. what does the tarp represent? >> to us, it's the idea we can't sleep here. it causes us a lot of grievance because sleep is

into tarp that won't be the l.g. would be the one that they always is is the market did it markets unpredictable we don't know what the market's going to do and when the market did what it was going to do we had to do what we did even though they themselves are manipulating the market to create the effects that make them coincidentally incredibly rich and everyone else poor that's just a coincidence but this is the same kind of excuse that well this guy saying he tripped into the lifeboat and so all the way and lloyd blankfein and jamie diamond are saying well the market accidentally made me a billionaire i don't know if that up or you know there's further parallels here max because it's emerged as well that he did he's now confessed that he did. deviate from course to go closer to an island to salute to his friend well he said he's done this before and it's always gone ok but he said i don't know why it happened i was a victim of my instincts ok well here's an analogy we know that dabbles is coming up a lot of banke

going to declare martial law that came out in the in the testimony later which turned into that was tarp and it turned into when you add all the extra tarp features almost fifteen trillion in bailouts we know from request freedom of information act that there was a seven trillion chunk that went directly into the banks pocket another seven trillion of ancillary kind of was distributed to these guys very simply have that kind of money been used to bail out the homeowners a the recession depression would have been over already two years ago b. obama would have come out like somebody who's a populist representing the people and not somebody in the pocket of the bankers and see kramer would have been taken off the air by now because he's a charlatan and a scam and as hedge fund his recommendations i presume produced an exact gain over the past five years of negative six or seven percent corn in my calculations so max this. issue of the i.m.f. able to expand their credit facility up to a trillion dollars that's the equivalent of the captain of the ship saying oh it's just a little technical i

they have boots, tarps, umbrellas. >> we can sell this rack of tarps in one storm. >> reporter: this rain is needed and necessary. >> we are weather farmers. it is good. we are disappointed we lost christmas. >> reporter: why the rain is more than necessary for the area. >> if we don't get the rain the grass grows taller and drier. >> reporter: a spike in sales. >> people are buying coats. >> reporter: his trainer is also using the rain to her advantage. >> lot of people think the dogs hate the rain. the -- if you leave the house with a smile the dog will like the rain. >> reporter: the rain has picked up in the last 35 minutes. it was drizzling at 5:00. now it is a light rain. the rock valley district told us today they had their storm patrols out, checking man holes and looking at pump stations. we checked in, they stock up on water chemicals and then within the next 48 hours, they will be putting in place their preps for their wet weather season and, of course, they tell us they will keep an eye on the rain. reporting live, jade hernandez, ktvu channel 2 news. >>> the? started fal

>> we didn't have a tarp over the top of us.in pelted on us for a good 45 minutes. >> very windy and cold. >> you were hiding out. >> why didn't you have a tarp? >> you know, the budget cuts led to us not

crews returning from the holiday break lifted up tarps and unleashed the smell.esidual effect from the leak in november. >> it is encouraging, i know it has been going on a lot. this is good news if it is fixed. >> reporter: the pipeline on the former concord naval weapons station. the pipe belongs to conoco phillips and was leaking crude oil through a pencil-sized hole that crews are working to repair and cleanup with >> it is a case of removing the tarp. i just hope -- [ inaudible ] >> reporter: county officials have been told crews will be here another two to three weeks. there is a chance residents will smell the odor again. but say it will probably never be as intense as wait was -- as it was in november. amy hollyfield, abc7 news. >> we've made calls to conoco phillips, but they've not returned them yet. >>> general motors prepared to ask chevy bolt owners to bring them in after three batteries caught fire several days after side impact crash tests. the government blames the fires on a coolant leak that caused electrical short. no fires have broken out in r

crews returning from the holiday break lifted up tarps and unleashed the smell.idual effect from the leak in november. >> it is encouraging, i know it has been going on a lot. this is good news if it is fixed. >> reporter: the pipeline on the former concord naval weapons station. the pipe belongs to conoco phillips and was leaking crude oil through a pencil-sized hole that crews are working to repair and cleanup with >> it is a case of removing the tarp. i just hope -- [ inaudible ] >> reporter: county officials have been told crews will be here another two to three weeks. there is a chance residents will smell the odor again. but say it will probably never be as intense as wait was -- as it was in november. amy hollyfield, abc7 news. >> we've made calls to conoco phillips, but they've not returned them yet. >>> general motors prepared to ask chevy bolt owners to bring them in after three batteries caught fire several days after side impact crash tests. the government blames the fires on a coolant leak that caused electrical short. no fires have broken out in rea

part of that work is going to be to cover the field with a tarp for. fifth sounds like they may have some rain coming. >>darya: we will continue to keep you posted on that. >>mark: the latest out of italy, the cruise ship that capsized, we're getting word that the captive maiden on authorize, and approved deviation from the ship's course. they are saying human error led to the grounding on this vessel. there are reports saying that there are two americans among the missing. the captain is six suspected of manslaughter and abandoning ship before all of the passengers or all safely. >>darya: taking a look at the campaign, jon huntsman is expected to announce his decision to quit the presidential race and endorse mitt romney. uncinate made the decision less than one week after a disappointing third-place finish in new hampshire is primary. huntsman got a late start into the gop race serving as the president's ambassador to china. the online retailer send this e- mail to customers explaining what happened, saying that hackers gained access to names, mailin

they tarped it and some odors could have accumulated under the tarp. >> reporter: a spokeswoman said the cleanup efforts associated with the leak are ongoing. once in a while we may hit a pocket of dirt that produces an odor. it's bean monitored by the air quality management district. >> it is unpleasant and causing some discomforted in some residents and they have a contract with cornoco phillips and they are aware of it. >> it wouldn't pose any health hazard but the work is expected to go for a week. >>> still coming up, trouble under the hood for the electric chevy volt. gm says "abc 7 news" the fix you'll need. >> and military pays tribute to three local airmen, a thanks to the dirty work they performed in afghanistan. >> you've got the new e-reader, now what? i'll show you h h h h h h h h hh [ female announcer ] they've been off limits to dieters since time began. not anymore. fiber one is bringing brownies back. at 90 calories, the only thing between you and chocolaty brownies... ♪ ...is a nicely designed package. ♪ you can have brownies again. fiber one 90 calorie brownies. in

>> we didn't have a tarp over the top of us. so rain pelted on us for a good 45 minutes. >> very windy and cold. >> you were hiding out. >> why didn't you have a tarp? >> you know, the budget cuts led to us not having them, unfortunately. >> we'll be right back. laces? really? slip-on's the way to go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some work done. there's a three-prong plug. i have club passes. [ male announcer ] now there's a mileage card that offers special perks on united, like a free checked bag, united club passes, and priority boarding. thanks. ♪ okay. what's your secret? ♪ [ male announcer ] the new united mileageplus explorer card. get it and you're in.

. >> like a tarp that they'll put on their windshield toe that in the morning, they just take it off.u remember to do that. >> the frost would form on whatever you covered it with. lets atalk about the principles of what causes frost to develop and it is all about the dew point. it is about the amount of moisture in the air. one way can you find out the night before if you're likely to have frost on the windshield the next morning is by watching the news at night and if they talk about the dew point -- how about the weather app. >> the dew point temperature and the air temperature falling to that temperature. >> now you have a new tool with the weather app. >> i meant to look to see if we have the duet point on our -- if we have the dew point on our weather app. >> what is the dew point temperature at night and will the air temperature fall below freezing. that is when due develops. >> you need light winds. >> if you've got a night before you go to bed, just check. if the skies are pretty clear and the winds are light or nonexistent and we have the dew point thing going on, number one

we just got a new report out from the tarp watchdog. companies like a.i.g., ally still owe the united states government over $30 billion. what did they are executives get through 2009 through 2011? $4,075,000,000. they still owe us would be why the hell are we giving them $475 million? these guys have found a way to buy the politicians and funnel the money to themselves. ally c.e.o. michael carpenter told tarp that the $500,000 annual cash salary limit was con training. was it? we had an individual who was making $1.5 million total compensation with $1 million in cash. cutting this person's salary to $500,000, this individual is in their early 40's with two kids in private school who is now considered cash poor. if you only have $500,000 after you've bank resulted your company, i feel so bad for you you're cash poor, you only have half a million dollars. maybe you shouldn't have bank resulted the company and had the taxpayers bail you out. they don't think about us. they think about themselves. i do declare the poor guy only has $500,00

the blue tarp repains here. the tents are here. -- the blue tarp remains here. >>> i'm stacy cohan.k to you. >> thank you. >>> making headline this morning, maryland senators will hear arguments on legalizing gay marriage today. governor martin o'malley is expected to testify. he introduced the legislation early this month. opponents rallied in front of the state house last night right near the governor's home. last year, the senate passed a version of the bill thank you -- but it stalled in the house. >>> right now, the sales tax does not apply to gas you buy in maryland but that might change. governor martin o'malley is asking lawmaker to add the sales tax to gasoline. he says he knows it won't be popular but he has to do something to help save the state's roads and bridges. >> it would seem to me that the best option available to us would be to roll back that exemption. in other words, phase in a 2% sales tax every year for the next three years with some sort of braking mechanism in there in the event that the price of gasoline were to spike in any given year. >> reporter: the go

some people think this really is essential to this mission continues and in fact just possibly that tarp i was speaking to one of the former advisers to the government and indeed the previous government here in syria we can listen to his opinion on the situation now . the situation. taking place no weakening syria if you are syrian and you like syria. where you are. you have to put in your mind that you have to. go. that's a funny thing and after all the conflict here in the country will started off as a peaceful protest that it become increasingly to fight very if you have a nandan. now the government have control over again you've got all these different factions no one really knows anymore who have the voice of the people and i think that from a number of people we've been speaking to that radio is in the area of major concern. so r.t. sarraf worth reporting she's currently visiting different parts of the country sending updates on the latest developments. in that all. the most recent post is from the town of the southwest of the country the scene of heavy fighting he says right now t

and look back i want to play you hank paulson former treasury secretary under fire over how he used tarp so we can remember what was going on that. you're using turbo completely differently than you told congress you're going to use did you mislead congress what so well. what we what we said to congress once we needed a financial rescue package because the credit markets were stopped up and so hank paulson using tarp completely differently than how he presented to congress was the question and that happened that actually happened and hank paulson got off pretty unscathed for what many people have accused him of doing there we all move past it now we have president obama signing away our constitutional rights with the n.d.a. the national defense authorization act with an amendment that says american citizens can get military detention without due process so the question is the legislative i guess rape on autopilot i want to bring him back back and dr paul craig roberts to answer that question i just gave a couple of examples dr roberts going back to hank paulson to bring back that history

watch the blue tarp turn into a tent.p right on cue, right at high noon, right when everybody expected the big showdown between the police and the protesters at mcpherson square.

so then he went out and he got the paint tarps, told me to help him lift him on to the tarp and drag down the stairs. i helped him out the door, but once the tarp was on the snow, he just pulled it into the barn. >> by now there was blood in the kitchen, fruge cleaned it up with bleach, all the while worrying her son would wake up. the next day, she says gaede rented a backhoe hoping to bury wicks on the property but the ground was too frozen so he went to plan b. >> he planned to take him to his cottage in michigan, and he said there was some kind of cement sewer-type thing he could drop him into and nobody would ever find him. >> and what happens with that plan? >> i don't think he could find where he wanted to put him because there was too much snow at that time. and then that's when he decided to dismember him. the only thing that he could think of was to take off his head and his hands so that dental records or fingerprints wouldn't identify the torso, and he took all his clothes off, and you could just hear bang, bang, bang. seemed like it was never going to stop. >> so as frug

. >> reporter: watch the blue tarp turn into a tent. it went up right on cue, right at high noon, right when everybody expected a big showdown between the police and the protesters at mcpherson square. up went that tarp. over general mcpherson and his horse. they called it their tent of dreams. >> they see our numbers and they are scared of us basically. >> media was there from all over the country to memorialize it. the occupiers have been in our town now since october but now, now the rules have changed. no camping, no bedding, no cooking, no sleeping. the tents they can stay but only as symbols. it's not going over well. >> i'm going to stay as long as possible. >> you're going to sleep here? >> yeah. >> reporter: but you can't use any sleeping bag. >> well, i've got a sleeping bag in a friend of mine's car. i'll pull it out when i need to. >> reporter: the new rules supposed to go into effect at noon today. but in what turned out to be a journalistic scrum surrounded by report earns some protesters sergeant david schlosser tried to

earlier this week, when they removed the tarp that covered the hole, the strong sulfur smell was backare still cleaning up the oil and debris and saturated soil. they put a tarp it and covered it and some of the odors could have accumulated. >> initially, we never heard anything. >> reporter: a spokesperson says the cleanup efforts associated with the leak are ongoing. once in a while we may hit a pocket of dirt that produces an odor. it is being monitored by the bay area quality management district. >> it is unpleasant and the air district is certainly contacted conoco and they are aware of it. >> reporter: there is no way to think that that it is a hazard. the work is expected to continue for several weeks. >> carolyn: santa cruz has adopted a plastic bag ban striktser than anything in the country unless the board of supervisors drop the controversial element of the ordinance. karina rusk has the story. >> reporter: the popular hangout in santa cruz is either crazy or ahead of time. they banned plastic takeout bags. >> some places, we're going to do it and be known for this. >> the

there has been no movement to breakdown any tents or tarps in the area. the deadline comes after several official complaints by dc's mayor and health director about rats and other violations. now congress has moved in for the national park service to enforce the longstanding ban on camping. some occupiers say this is not the end of the movement, however. they will stage sleep strikes or some say they will simply sleep elsewhere during the day so they can maintain a presence here at the park at night. >> what's going on right now is just a continuation of you know, this is just to let you know what is going to come in the spring and summer. frankly we are not going away. look at all these people. >> this is a new chapter. this is where we separate the boys from the men and the girls from the women. so i'm ready and a lot of folks are anticipating a peaceful transition and our hoping for one when police do come in at noon. hoping for a peaceful transition on both ends. police side and protesters side. this comes one day after there was a bit of app altercat

. >> there is tarp over the windows. date -- that may have been the that neighbors could have seen.rs said they had no idea. joe johnson has only been stealingith electricity. charges for that big pot growing operation. >>> all authorities have arrested eight muslim men planning to with tampa,locations in florida. the 25-year-old was arrested in sting operation saturday. he bought what he thought or guns and grenades and other explosives. he wanted to sell -- set off car outside of businesses. the fbi had been tracking him since september. >> a laurel high-school graduates is under arrest tonight. says craig baxam used apartment to search internet for terror groups. court documents say the former veteran planned to a small unit terrorist group. arrested in kenya. >>> an investigation into an alleged condo embezzlement scheme. nearly $3to pay back million in restitution. using a accused of property management company to of clientsccounts after line about during maintenance. face bank fraud and conspiracy charges. >> the u.s. department of closing 259is offices. the plan will affect t

so he could pass tarp. tarp has become the conservative bullseye. all the things you don't want.ing, taxes, distribution. mccain's endorsement goes nowhere for romney as far as conservatives. >> dana: i don't think it hurts him. i don't think it helps him. but it doesn't hurt. politics is a funny thing. these were bitter rivals three years ago. today mccain puts -- forgiveness is an amazing thing in politics. to be able to set that aside. and i think, one thing about mccain is he sincere and authentic. genuine. when he gets up there, i think he means it. but i don't think it necessarily helped or hurt. >> kimberly: he is genuine about it. the right thing to do. i think for him to do, because romney did bow out. people were questioning later whether he got out of the race last time too soon. he went ahead and cleared the way for mccain. now the gentleman repaid the favor. >> eric: also endorsing campaign for mccain. >> kimberly: absolutely. absolutely. pay back. >> andrea: it helps him a little in new hampshire if he goes on, it would help him in states like arizona. i got to agre

net of that tarp money that was focused upon by the media.he reason it was focused upon is because it's the only aspect of the bailout that congress had the ability to vote upon. everything that happened through the fed and through the treasury department and everything that the fdic had to do because of the fed and the treasury department was the trillions of dollars that had no vote, that weren't brought up into the public forum until afterwards. and the media had a role in not showing that and not dig iging as deep. bloomberg and this show and so forth aside. i think that's one of the issues. but the fact remains, there's $1.6 trillion of just access reserves doing nothing for the mainstream population. not going into infrastructure or jobs. just literally sitting there gaining interest at the fed, which was created at the bailout. that's one portion of what still remains and what's still a drain on the system of the main street public relative to the risk that was being mentioned before that has been blown up by the banking system. the ba