moves going on in washington today to begin to work off the stock of vacant, distressed properties, the rao, the pilot project we have in place to begin to finance investors more. in a bigger way than had been in the past. housing homeowners are no longer financed. let me throw out if you're going to have principle write downs. if you're going to have, allow people to foreclose, i mean, you're going have to find some way of financing this. government funds are going to have to be put in the picture. then you get into the fiscal problems we're dealing with. aagree things can be done to ease the problem but there are costs. >> well, why wasn't this done? >> because it smells incredibly badly. we did what we did for the banking system, notably t.a.r.p. >> yeah. >> and it was a sorry spectacle to watch the political process actually do t.a.r.p. we got to see it voted down and then the stock market voted down and then we had congress holding its nose and passing it on the notion that hank was going to buy out assets and quickly changed his mind to recapitalizing the banking system, which was the

it's you but you and cynthia this the senile rao expends this is the worst. continuous quality checks are organized in the factory and chemical analysis helps to ensure that all the ingredients are in the proper proportions. the wrong amounts or makes left for the wrong time can leave disaster. to deal with first the container is filled with alcohol then water in the composition of essences is added then it's all mixed drawn filtered and delivered to the filling facility if you can see the printer and as it's called the factory normally buys the finished principles from china germany or italy but this current batch is a specific one of all up all the funny produced in us. there are only by a few factories of this kind in russia about four hundred people what they produce a staggering three million off of the fragrance it's love the business you hear it's great the bottles different policy they can produce an impressive eight thousand bottles that. day with this factory is to keep prices low and the retail mark up is to be as little as possible the average pri

oh israeli journalist a l says the gas rao is a consequence of the trouble interruption revolution. right now is in flux it's in francis and nobody knows exactly when. the new order in egypt will emerge we need geo political patients in this regard what we're witnessing right now in egypt and the sinai peninsula is a microcosm of this when you think of it we're witnessing a political twilight we understand what we're parting with we do not know what we're approaching. and this is truly how the americans view the situation in egypt . many in washington today as far as we understand regret the haste with which america helped. barak and his regime leave the scene but that is of course going to water under the bridge. turned itself from an emerging markets to higher was the economy one where no foreign investor can assume with signs and written statement on the part of any gyptian interlocutor is worth more than the ink with which it is signed. now the u.s. could use its military in afghanistan for at least a decade after its withdrawal in twenty fourteen it's part of a new strategy agr

still to come -- american jim yong kim is picked for the top post at the world bank. anbar rao has -- are rao has broken out among the iraqi -- a row has broken out among the iraqi government about an oil pipeline. >> the crumbling bricks were part of the once-magnificent territory of a kaine. more is buried underground. they are worried undiscovered treasures are at risk. according to the antiquities department, behind me there is the wall of the ancient city of babylon. it goes down this way, where the oil pipeline goes into the city. the newly-constructed pipeline will carry oil products from the self to baghdad. -- from the south to baghdad. >> that have nothing in that area. when they lay the oil pipe, they find nothing. than find nothing. >> the antiquities officials consider the pipelines a threat to what they say are fragile ruins underneath. they want them diverted. >> there is another problem. the board of antiquities worked hard on that side. the pipelines could prevent that from happening. >> the lion of babylon has survived almost intact. is symbolizes the babyloni

still to come -- american jim yong kim is picked for the top post at the world bank. anbar rao has -- are rao has broken out among the iraqi -- a row has broken out among the iraqi government about an oil pipeline. >> the crumbling bricks were part of the once-magnificent territory of a kaine. more is buried underground. they are worried undiscovered treasures are at risk. according to the antiquities department, behind me there is the wall of the ancient city of babylon. it goes down this way, where the oil pipeline goes into the city. the newly-constructed pipeline will carry oil products from the self to baghdad. -- from the south to baghdad. >> that have nothing in that area. when they lay the oil pipe, they find nothing. than find nothing. >> the antiquities officials consider the pipelines a threat to what they say are fragile ruins underneath. they want them diverted. >> there is another problem. the board of antiquities worked hard on that side. the pipelines could prevent that from happening. >> the lion of babylon has survived almost intact. is symbolizes the babyloni

investment fund and three partners have been bought a quarter of the power generator and now oh g.k. five from energy holding intel rao now one of the members a.g.c. fund is a large investor from the middle east now the deals that mediator explains the impact of the arab countries contributions have a listen. they are investing one hundred seventy five million in what is one of the largest investment by the middle eastern investor in russia so really very important transaction very important signal an example fawaz are investors because as you know as a fund was just five allies to structure in january of this year and since that time already two transactions was thoughtful warsaw one billion dollars to which two hundred million came from russia direct investment fund and eight hundred million dollars came from our point busters and talking of big money let's get on to gas problem the company actually reported some pretty positive results we're talking forty five million dollars that's what they made for the final to get of two thousand and eleven a thirty five percent increase and they're putting that down to high pr

direct investment fund and the report those have poured a quarter of the power generator and l o g k five from energy holding into rao now one of the members a.g.c. fund is a large investor from the middle east all the deals mediator explains all the details and the potential impacts they are investing one hundred seventy five million in what is one of the largest investment by some middle eastern investor in russia so really a very important transaction very important signal and example was are investors because as you know as a fund was just five allies to structure in january of this year and since that time we already have two transactions with thoughtful worth of one billion dollars of which two hundred million came from russia direct investment fund and eight hundred million dollars came from our point busters. more big money stories on to gas problem the company managed to achieve a forty five billion dollars in the two thousand and eleven financial year last big money that was a gain of thirty five percent and it was all down to a high prices and growing production of the company increased its market share in

the last minute. this weekend was a big check-writing time very probably for tax prep rao's. this time last year, $5.3 billion was mailed into the federal treasury on that last tax day. that was last year, 5.3 billion. if the tax people got the same amount of money this year, say $5.3 billion, that would take care of three, 3 1/2 days interest only on the federal debt. martha: boy, that's unbelievable. let's take a look at some polls when we talk about taxes and how people are feeling about them these days. i don't think anybody really loves to pay taxes. i think the president said that the other day. 54% say it is too high. 43% say it is about right, the amount they paid. is tax money spent more or less carefully is the question there. let's look at the next one that is the one i referenced. are your taxes being spent more carefully now than in recent years? 53% said less carefully. you think of the gsa story. there are a lot of concerns out there about this. >> there is a great deal of anger over the level of taxation and where that tax money goes. as you say the gsa scandal

they go off, they have a rao, they call on the phone late at night. going to split up or get rid of it. and then they go away and a month later they're back again. >> the imf tries to measure the anxiety in the market. ne look at cds spreads. if you look back over the last three, four years, you've soon anxiety go up and down up and down in the markets but there has been a constant rach elling up. so if you start down here in 2007, we went up, then down, then up again, then down. and if you look at say spreads in the eurozone right now, they're basically telling you the underlying level of concern notwithstanding those short breaks when it seems like they were fixing things keep going up. >> can mario draghi fix things? >> they gave him six months. what happens after the six months? >> if they don't use it, we'll be back where we were at the begin ing. >> five years from now will we be going tofr to europe and sayer that iing, wow, that was scary or will you be saying i'm going to greece, i'm going to have to turn toll dars into drachma. >> the proble

the availability or affordability for small businesses and consumers. i am just curious what kind of safeguards are in place to make sure that happens. we obviously believe in those protections. and i know that mr. rao royce believes it should be integrated. i know that your work with other regulators to integrate consumer protection into everything, i want to make sure that we keep affordable and available credit for small business consumers. >> thank you, congressman. to go back to a point that you made a moment ago, it does not help to protect consumers if we undermine the safety and soundness of the financial system. consumers depend on the availability of credit to be able to do things like buy homes and access education, manage and control their spending. if the system does not provide those opportunities to people, then their lives are stultified as a result. i very much agree i and a vibrant financial sector as good for consumers for all the same reasons. lots of availability of choice and the like. one of the things we will try to be mindful of, as you pointed out, we are told that access to credit is one of the chief objectives we are supposed to serve. we will try to be mindful of that as