it was the first time that officials had financial penalties. i think what we start to get out of this that is a little more helpful, i think, in the normal situation, where there is not some obvious bad information that is being committed, is there is a stress in this report on having adequate disclosure of controls in trading. san diego was found not to have had adequate disclosure procedures at the time they committed these acts, but subsequently adopted procedures -- and mark can touch on that because he helped put in this whole regime. that was the way they started to mitigate -- become good citizens and work their way through the settlement. that has become a theme since it is what we do as disclosure council, and we are part of the disclosure controls and training process. that is sort of where we come in and help you to come up with those procedures, and we have drafted procedures for the city that were recently adopted and helping this board with this process. quickly, just to close it out, and i will turn it back over to mark, most rece

the entity. they can bring an action against government officials and employees. they can bring in action against employees. the sec has on its web site and complete compendium of all of the cases that they have brought in the index. to date, there has been no action as the body. this is the only advice by which they directly speak to your responsibility. before i go into the orange county report under which we're operating here. let me focus on slide 12th. this is important. there are these various context that we discussed and there is potential liability for the city, whether it is official statements, continuing disclosure filings, this broad concept of any communication to reach investors, they are all establishing liability for the city as the city. so far, the only advice that we have about your potential liability is dealing with official statements, not these other documents. i would like to keep that discussion between the liability of the city and yours as board members. orange county, this is the first major enforcement action that goes back to 1996. yo

decided that the board and all the relevant officials had to have known about the. certainly the treasurer and assistant treasurer did, and they were carrying it out, but others, and had the knowledge and acted recklessly in not making sure that got into the disclosure documents. it is somewhat of an extreme case as far as the facts go, but it set forward sort of the contemporary version of what the standards are and how they would apply to you. ok, i think we did that. so -- no, that is fine. sorry. in the report, they did take the position that the board should become familiar with the disclosure documents, question the officials that are responsible, employees, and basically create -- take steps to ensure disclosure. ok. so the next bad case study, so to speak, is a san diego, and mark is particularly an expert on that. he was brought in to help clean up that mess, as were we. but sort of happen again. it was a little bit different from orange county. it did not eventually lead to a bankruptcy, but it was similar in the sense that there was an elephant in the roo

acting in their official capacity with the organization. there is a note about public officials liability insurance. this covers debt that will be packaged together that would include both directors of the board as well as officers of the organization. appropriately director reiskin's point about other agencies in the city working on this particular issue, and i know they are very much in close contact with their counterparts in other organizations, these are other departments that have public official policy liability coverage, and you can see what those limits are, and i think retention was dropped off with a couple of those. this is just a note for you to notice this. these would be notable enhancements we would make to the policy to make sure. for example, the first point is that dno policies do not typically cover standard claims that are the result of bond issuance, basically. we would make sure that that would be included. there is also -- allows the choice of counsel so that the policy would include choice of counsel as well as reimb

the sec took a pretty hard line on the responsibility of the board, and the public officials, to have done a better job. the standard, basically, was a recklessness standard for liability which was -- well, let's go back for a second. it is a two-step standard. do you know information that is either not in the disclosure or is not accurately provided or described? the story. -- sorry. and then, was the disclosure authorized in a way that was reckless with respect to that information? in orange county, it is in a sense of the facts or bad facts, however you look at it. that there was this giant scheme that was risky that never got disclosed, said the sec decided that the board and all the relevant officials had to have known about the. certainly the treasurer and assistant treasurer did, and they were carrying it out, but others, and had the knowledge and acted recklessly in not making sure that got into the disclosure documents. it is somewhat of an extreme case as far as the facts go, but it set

the sec took a pretty hard line on the responsibility of the board, and the public officials, to have done a better job. the standard, basically, was a recklessness standard for liability which was -- well, let's go back for a second. it is a two-step standard. do you know information that is either not in the disclosure or is not accurately provided or described? the story. -- sorry. and then, was the disclosure authorized in a way that was reckless with respect to that information? in orange county, it is in a sense of the facts or

as board members, when you approve the official statement, the document goes to the investors, you have certain responsibilities imposed upon you. this is a personal liability and the city's liability. it really boils down to one issue, are there any current material facts that you are aware of where your concern might impact the credit of securing the bonds. i their current facts or are there any adverse material financial trends that you might be aware of that would impact the ability to repay the bonds. we are speaking to your unique position where you might have knowledge that we don't have. muni to let us know of any material facts, and material trends, what do you know that we may not know, all so what do you know that we might also know? let's take litigation as an example. you have the obligation to be there read the official statement and see how it is addressed or to speak to us and say, why have you not addressed it? this is really that simple. if this is not followed, there are serious implications once again for both the city as well as ourselves. what we will be discussing

the court. usually when that happens public officials defend it. but neither the governor or the attorney general would so the backers of prop 8 protectmarriage.com did. what they wanted to know was could they? the judges said, quote, we conclude that california law authorizes the official proponents under the circumstances to appear in the proceedings to assert the state's interest and to appeal a judgment in validating the measure. protect marriage responded by saying the group is delighted. calling the ruling a disaster for the homosexual extremities and a battle to uphold marriage between a man and woman. same sex supporters were not surprised. >> we felt there was a general sentiment at the court that day that they wanted -- that the judges would uphold the initiative process in california. we are not shocked by the outcome of today's rulings at all. >> now, going back to the 9th circuit. this is their chance to do that. >> today's ruling is is an advisory ruling. up to the 9th circuit to decide what is next. ktvu channel 2 news. >>> housemanno

the fire started at 9:00 last night. at elmer avenue. fire officials say the fire started in a garage behind the home. police and fire crews worked after the blaze was out and it was safe to go inside the garage and they found one person dead. >> firefighters performed search and rescue operations after extinguishing another fire where they found the body of an unconscious, non-responsive victim expired. preliminarily appeared to be from smoke inhalation and burns. >> the state medical examiner will do an autopsy to determine the official cause of death. no word on their identity or what caused the fire. kim dacey, wbal-tv 11 news. >> thank you kim. and in harford county two people had to be rushed to the hospital after a two-alarm fire at the intersection of green and mores road. no word this morning on the conditions of the victims. >> a 10th grader at a baltimore city high school is in mount sinai hospital after a 14-year-old pulled a knife on a fellow student. it is an attack that has parents and students concerned about the overall safety of the s

and of course, what with the mayor do without issuing the official proclamation? behalf of our great city, i would love to present in honor of not only the 100 years, but the grammys, oscars, the wonderful quality of work that the symphony has been involved in, to honor them on this day, to resign from our protocol officer the official proclamation presented to michael. declaring this to be san francisco symphony in day in san francisco. [applause] free parking is what he asked for. of all things. and of course, with this opportunity that we could not pass up, where would a 100-share birthday bash the without the official birthday song? i'm going to ask liang-liang to get on the piano. and i'm going to have ask all of you to sing in your loudest voice. he would like to have his friends in china hear this. let's go with have a birthday, everybody. [applause] >> we came to seven straight about 10 years ago. -- 7th street about 10 years ago. the environment is huge. it is stronger than willpower. surrounding yourself with artists, being in a culture where artists are

the teacher. school officials said we terminated the instructor. that official said the school found out about the altercation when the video was posted on youtube. the student was 17 at the time. kim dacey, wbal-tv 11 news. >> here is matt lauer with a look at what is coming up next on the "today" show. good morning. will herman cain dropout? he told his staff he is reassessing his candidacy. ann is live in baghdad where joe biden is visiting with the troops as they prepare to withdraw from iraq. twins taken away from their father after he was named a primary suspect in the case. an alarming new study on the levels of arsenic in your child uses. we'll talk about the results with dr. oz. all that and much more when we get started on it wednesday morning. >> 43 degrees on tv hill. >> we will come back and check the weather and traffic together before you head out to start your day. >> 83 is a mess. >> have the right lane taken out. they are trying to clean up a fuel spill. tractor-trailer passed through and spilled that fuel. york road is your altern

where to find the sweet treat that is alsoothe official cupcake of the baltimore ravens... next in our hometown . hotssot.plus.. the final movie in theeharry potter series is out on d-v-d... and we have your chance to win ittcoming pp. you're watching fox 45 ggod day baltimore. 3&((bump out)) [ male announcer ] does your cable company keep charging you more... and more... and more? stop paying so much for second best. upgrade to verizon fios and get tv, internet and phone for our best price online: just $89.99 a month guaranteed for two years. you save $600. go to verizon.com/greatprice to sign up now and get $300 back with a two-year contract. fios is a 100% fiber-optic network that delivers superior picture quality, more hd, plus america's fastest, most consistent and most reliable internet. why keep paying so much for cable? switch to fios at our best price... $89.99 a month with a two-year price guarantee. plus get $300 back with a two-year contract or choose no annual contract. ordering online is easy. you can even chat live with a fios agent. visit verizon.com/greatpr

the official high is at b.w.i. marshall. the official high today is 74.t is within three degrees of the record high in 1989. our low temperature was more like the afternoon high for this time of year. 74 downtown, 68 in columbia. the eastern shore is mild. a cool breeze coming off of ocean city at 62. burg and oakland. 57 is about where the low temperatures will end up tonight. there are some changes kenyan with severe thunderstorms in illinois and ohio. -- some changes kingpin with the severe thunderstorms in illinois and ohio. say goodbye to these mild temperatures. it will still be a bit warmer than normal tomorrow, but on the other side of this front it cools off quite rapidly. increasing cloudiness and showers are likely tomorrow. wednesday, a low pressure system tracking on the front produces another shock of rain, especially south east of baltimore. colder temperatures thursday, may be cold enough for some snow in the higher mountains to our north and west by thursday. loh 60's tomorrow instead of the lower mid 70's we had today. it my best to 20 k

it became the official batting glove of major league baseball. irving franklin was 93 years old. >>> the second court of appeals in texas has ruled that dogs are worth way more than they're actually worth. this was the case of a couple whose 8-year-old lab mix was accidentally euthanized by a dog shelter. the first court ruled they were owed only the "cash value of the dog." but the appeals court judge, who must be a dog lover, ruled they were owed more damages than that, because "dogs are unconditionally devoted to their owners." >>> up next here tonight, a woman making a difference. and while she's not the mayor of her town, she might as well be. >>> time for our "making a difference report" tonight. and this one comes from a place called new shoreham. that's the official name of a small and beautiful island off rhode island. not far from the tip of new york's long island. it's a great summer vacation destination where there's a woman you have to meet. she's 83 years old and cares for her neighbors the way people used to in this country. her sto

both sides are talking about the official end of work to trim more than $1 trillion from the deficit. lisa is on capitol hill. it looks like this is over, lisa, what happens now? >> right. a couple of things happen. first of all we'll get the official announcement as you're talking about, saying that may come tomorrow, discussions under way. as the super committee fails that would trigger across the board cuts of 8 to 9% to most every government agency and those would not go into effect another year. a lot of speculation to whether congress will pull that back. but let's get back to sort of where we are right at this moment. behind the scenes, we have many, several sources republican and democrats, telling us they're planning for the end. but what's interesting, it ted, i want listeners and viewers to pay close attention here, publicly members of the super committee aren't saying that yet. they still have a date day to work out a deal. sounds like they don't want to admit they basically have stopped talking. let's play some sound from the sunday talk shows and listen closely to kind o

the letter says fire officials will be in the area conducting inspections. fire officials only inspect private home hes in special circumstances. >> the only time we would enterer a house to inspect that is if there is a day care from the home or if it was a foster home. >> reporter: this letter was sent to a home that didn't meet any of those criteria, so the fire department took action. >> we immediately suspected that this could be fraudulent and potentially criminal activity may result from it and the county executive and fire chief at that time wanted to warn county residents. >> these individuals dress up as officers and look like officers in official positions. we want to let our seniors and everybody know that when people do this they should be alert and know that the people are just trying to gain access to their homes probably for burglary purposes. >> reporter: anne arundel county fire department normally doesn't do inspections on private homes so if you do receive a letter like this, there's one important thing they want to you do. >> immediately

the official. touch from the.

the official. from. the. video. and. an eleven mile neighborhood march in new york on monday became the latest occupy protests against corporate greed in the meantime police continue to crackdown on demonstrators after violent clashes and arrests over the weekend for activists the movement increasingly brings a vital issues back into the line of america prominent politicians. the occupy wall street protests are already changing the political dialogue in the country republicans are talking about social inequality democrats are talking about corporate personhood then you know in these are very these are important issues to a lot of people down at the protest in the financial district police brutality is a big problem in the united states and the wall street protests are showing that are you know that's one issue that a lot of people are organizing around when there has been violence it's when there are you know dozens upon dozens of riot police in full gear you know it's almost like the police come in looking for a fight a

the deputy head said they have not received the official response. a passenger plane flying from the u.s. to poland was forced to land on its belly after its landing gear failed to open. it circled over warsaw airport. no one on board was injured. church leaders at st. paul in london say they are suspended legal action to the fate protesters camped outside of the building. they said that they will talk directly to the protesters but they might continue legal action to evict them. now to the scandal which has rocked the world cricket. today, two of pakistan's star players, salman butt and mohammad asif were found guilty for their involvement in a betting scam. >> no comment from salman butt as he left court. what do you have to say to the people of pakistan? a few moments later, his teammate followed. both had been found guilty for except money in return for playing badly on purpose. >> they brought shame on the cutting world. they jeopardize the face and admiration of cricket players the world over. this shows that match fixing is a serious criminal a