of the dow jones company in the wall street journal as soon as murdoch acquired it came from he went from the us to the you tube to your list and now he's the head of the wall street journal the chief executive officer and really you can really trace . a dilution of ethical standards and. the wall street journal from the time that he arrived and i've been reporting on this so jeff i understand that the wall street journal is not reporting on this aspect of the story. that would not surprise me. he said oh yeah it was that they have you know have to run a political piece is covering this scandal but they have not reported their own c.e.o.'s rowel in this scandal here this is a tough one so if the word is medical this now the wall street journal are right i'd say let's wait till the smoke clears murdoch is a guy who is so powerful he works all the political parties you know what new york state he endorsed hillary clinton for senate when she ran he was with the tories under thatcher in england the conservatives then he went to blair and the new labor then you know he's back with the tori

joining me now, sarah elson, author of "war at the wall street journal." the wall street journal today wrote a very defensive editorial for the whole bloomberg -- murdoch empire. how did you read that editorial? >> well, i was sort of surprised that they took such a defensive stance, given that the wall street journal doesn't have anything to explain at this point, and it's not really the edit page's role, in my view, to defend its corporate parent, so i thought that was actually something after having spent so many years at the wall street journal that was unnecessarily putting the reputation of the wall street journal on the line given everything that's been going on outside the wall street and the rest of news corporation, at the "news of the world" and other parts of the company. >> what do you make of this bloomberg report they are making plans for what happens if rupert murdoch cannot remain in his position? >> i think that is one of the many unthinkable things that has become very thinkable lately. it used to be that rupert murdoch and news corporat

, us at the "wall street journal," aren't we great. in the process compromising itself entirely with every paragraph. >> it not only blamed the new york tim"new york times", it blamed paul steiger the pre-editor of the "wall street journal" and the news organization he runs, they're the problem. we didn't do a darn thing wrong. >> everybody does what those british newspapers are doing? >> everyone does it. but i took that editorial as not only being ridiculous on its face, but a sign of true panic that this virus is spreading to america and news corporation, which is an american company, remember that, not british, really is facing some serious threats to its future now. >> frank rich, writer at large for "new york" magazine, thank you very much for joining me tonight. >> thank you for having me. >>> a "news of the world" whistleblower is found dead as rupert murdoch preparing to appear before parliament. ru rudegy giuliani said he's an honest man. it's in the rye write. >> announcer: this past year alone there's been a 67% spike in com

we would love to see you soon. >>> up next on the "wall street journal report," we'll take a look at ng week that will have an impact on your money. >>> and then also on the program, getting my game face on. is trading wall street for the bronx a winning strategy? ay with us. it's schwab at your fingertips wherever, whenever you want. one log in lets you monitor all of your balances and transfer between accounts, so your money can move as fast as you do. check out your portfolio, track the market with live updates. and execute trades anywhere and anytime the inspiration hits you. even deposit checks right from your phone. just take a picture, hit deposit and you're done. open an account today and put schwab mobile to work for you. >>> for more on our show and our guests, check out the website wsjr.cnbc.com. and i hope you'll follow me on twitter. check out my handle at maria bartiromo. >>> now a look at the news that may move the markets and impact your money this week. monday is the fourth of july. all markets will be closed for the holiday. happy independence day, america. tuesday t

and they don't have any evidence to do so ok speaking of the wall street journal today the wall street journal is reporting that homeowners are are going to get screwed i mean this is this is the because we didn't restrain the banks because we didn't we didn't reinstate glass steagall the the deregulation basically of the banks that happened in ninety nine and two thousand. is largely still employees and the and the agencies that oversee the banks or are constantly struggling for funding and the head of the consumer agency congress won't even give obama his nominees and so the banks toure's are now starting to do subprime loans again this was where the wall street journal reporter she's what i'm going to go just i'm so glad you brought this up because also just yesterday in the wall street journal it was an opinion piece talking about a new book that's coming out that's going to back up the minority report of the se i see which said that it was not wall street that led the way to subprime mortgages it was actually the government that did it and that barney frank and chris were o

27 television stations, the new york post, the fox news channel, dow jones and the wall street journalg the rupert murdoch empire down here in the u.s.? today we got part of the answer to that question when the scandal took out the publisher of the wall street journal. les hinton, for 12 years, les hinton was the chairman of news international, publishes "news of the world," the sun, and the sunday times. that means les hinton was in charge when "news of the world" allegedly hacked into 13-year-old milly dowler's cell phone, deleting voice mails and giving her family false hope she was alive. les hinton was in charge in 2005 when the "news of the world" apparently tried to hack the phones of the families of the 7/7 london transit bombings, les hinton was in charge when they hacked banking, legal files, and tax affairs. hinton was in charged when "news of the world" was charged of hacking into the phones of 9/11 victims, and until today les hinton was in charge of the wall street journal. he has, today, resigned. he feels it is proper to resign from news corp. the phone hacking scandal

conditions by the family who owned "the wall street" was they set up this independent committee, and the whole idea was to ensure the integrity of "the wall street journalhey do? they hired somebody who frankly is very closely, very closely entwined in this entire british scandal. he testified before the parliament that there was only one newspaper reporter that actually gained information through hacking, he admitted that he approved payments to that news reporter and a private investigator that went to jail on this, so we're very concerned that the comments they've made so far is no problem, and we just want to make sure that's true, and that's why we sent this letter today. >> and senator, the attitude expressed in "the wall street journal," very defensive article this week about this situation, saying hey, look, everybody does it. that's not the kind of thing i would imagine would give you much comfort on how things work in murdoch's american media properties. >> well, they are saying a lot of things. as you say, they've lawyered up, they've hired p.r. people, there's even an opinion piece that ran against senator rockefeller and my idea here which

hinton resigned friday as head of dow jones and company, which publishes the "wall street journal" and is part of news corporation's media empire. but it is not his tenure at dow jones that has drawn attention. no one has questioned the reporting of the "wall street journal." instead, it's his 12 years-- from 1995 to 2007-- as chairman of murdoch's news international that's under scrutiny, amid scandalous and possibly criminal reporting tactics, including voice mail hacking by company employees, one of them, andy coleson, who went on to become an aide to the british prime minister. >> i believe absolutely that andy did not have knowledge of what was going on. >> reporter: this may be why hinton is in trouble. in 2007, he told members of a british parliamentary committee he believed only one journalist- - clive goodman-- have been involved in any wrongdoing. >> the police obviously carried out pretty thorough investigations and the result of their investigation was against clive and the private detective. clive went to prison, the "news of the world" paid a substantial amount to chariti

welcome to "the wall street journal report." i'm maria bartiromo, reporting from right outside the new york stock exchange. a weak jobs number, worries about the debt ceiling and the deficit. what does it mean to the markets? my conversation with the chairman of the house budget committee, paul ryan, talking with me about medicare, compromise, and the federal budget. >>> and what is cooking when it comes to trends in barbecue? we'll check out the hot grills, the tasty dishes and find out what is new in the backyard. the "wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. a very disappointing jobs report out on friday. nonfarm payrolls rising only by 18,000 for the month of june. that is the weakest number since september of last year. most analysts were expecting numbers north of 100,000 jobs created. the unemployment rate, meanwhile, bumped u

welcome to "the wall street journal report." i'm maria bartiromo, today coming to you from the american century golf tournament in beautiful lake tahoe. a dire warning about americans' debt. will the country lose its aaa rating? as earning season gets underway, what does it all mean? which way will the markets go? and the economy ahead, next. >> i really like this interview. >>> and yes, that's me. my avatar, any way. the latest in cool gaming technology from microsoft. >> maybe i don't even have to come to work to do it. >>> no kidding! my discussion with jason kidd on the nba dallas mavericks about the business of basketball. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. a warning about america's debt from two key rating agencies. both moody's and standard & poors threaten to downgrade the rating of america's bonds if congress does

welcome to "the wall street journal report." i'm maria bartiromo. once again reporting from outside the new york stock exchange. the clock ticks on america's debt. will washington get a deal done? and what happens if they don't? >>> buying into private companies before they go public. who does it and how? the young entrepreneur behind secondmarket. >>> and luxury travel for less. if you're looking for last-minute deals, we have some cool getaways to escape the steamy weather. "the wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. america's debt ceiling deadline is rapidly approaching, and we are still waiting for word of a deal. talks are ongoing, meetings continue between the white house and congressional leaders, and there has been renewed optimism about a big deal happening to reduce the deficit and raise the debt ceiling. but so far nothing concrete. >>> it w

i think is just to kind of find a way out as but then again the wall street journal has found a way to thank scott free as they support regulations and their way to using cuts do you think that americans should start questioning at fox news or the wall street journal though let's say that it does come out and it is true that nine eleven victims that their phones were happened something that would strike a chord with a lot of americans but has the damage already been done are they already so in mash with fox news in the ratings that considering that it beats out every other cable network on television here. i hear that i'd like to take this out of an ideological spectrum because you know i think fox news well first i don't think fox news and news organization in many ways it's an adjunct to republican party that has become extraordinarily extremists but i care deeply about the public standards the ethics of churnalism in this country and independence and i do think murdoch and his empire have tried to wipe away all of that and fox becomes the embodiment but as you know one on a

first of all from from for the wall street journal from his u.k. empire and secondly is there any possibility that the wall street journal or for that matter fox news could be involved in any of this stuff and might end up somehow damaged by. well i can't i don't know enough oh i haven't seen any evidence that os clears wall street journal or our newspapers and his own papers we're desperate baldness right now it's limits to news international news corp's british years which is run by seems more are sort of you know i could see this basically in the history where. it's too early to write or both back here in the u.s. operations certainly it will if the u.s. department of justice and serious exchange machine ends up watching an investigation which would be her own company right now if that were to happen yeah this really could say we're less media empires from this very core do you think it's possible that it could take the entire empire down or would it just you know cost him some profits. it probably cost him some profits it would probably cost him

people's sell phones and news corporation is the parent company of the fox news channel and the "wall street journaland now, the news, like, from washington, dc. >>reporter: federal law enforcement did not deny reporting of the "wall street journal" but said the subpoenas are normal and anthony specializing in government investigations says that getting information from a news organization in any case, has special requirements for the department of justice. >> the department of justice has regulations that bind itself to certain procedures before issuing a subpoena. the attorney general has to approve personally and explicitly all subpoenas issued to news media organizations. >>reporter: as cook mentioned, the attorney general must sign off on each. in response, news corporation said we have not seen evidence to suggesting 11th phones or has anyone cooperated. this arose when an unidentify person speculated that the british newspaper of whether it happened, and that paper printed the speculation, and that has since mushroomed with no substantiation and there is no public timetable in the preliminary

and the "wall street journal" said, ayman al-zawahiri has repeatedly singled out norway. and you know the "wall street journal" is accurate because as a murdoch paper, they've got proven ways to get inside information. [cheering and applause] now, it turns out on saturday we found out the attacks were carried out by anders breivik, a native norwegian christian with a 1500 page manifesto railing against the muslimization of europe. some say these false reports of muslim involvement were a widespread failure of the media, but i say by going with their gut, these journalists were able to get the story they wanted and scoop reality. [laughter] and even if there was a rush to judgment, we must not repeat that mistake by rushing to accuracy. [laughter] just because... just because the confessed murderer is a blonde, blue-eyed, norwegian-born anti-slim crusader does not mean he's not a swarthy, ululating, middle eastern madman. [laughter] jim? >> what do you make of the fact he looked nordic? >> in the first few hours after any such event, there's so much information or misinform

then you turn to the "wall street journal" editorial page this morning. that is the "wall street journal" opinion this morning. we want to hear from republicans only. should your lawmakers support the speaker's plan? inside the "politico," how the arm-twisting is going on the house side. it goes on to say that some conservative interest are not buying it and seemed to go into overdrive to defeat the boehner plan. the u.s. chamber of commerce gave boehner some relief tuesday. grover norquist came out in favor as well. a republican in taxes, you are first. what do you think? carol? caller: i am tired of the blackmail and speaking with the orchid ton. i am tired of democrats in getting it on national television and lying through their teeth and i want the republicans to hold fast and hold firm. host: that is carol, a republican in texas. here is what jim jordan had to say. he was at a news conference in this picture. the leader of the republican study committee opposes the ban air plan. here's what he had to say in a news conference yesterday. >> we appreciat

it's important to distinguish the "wall street journal" and fox news. cing a kind of challenge. "wall street journal" is one of the great journalistic institutions in american history. even they have been light on the subject. there was a tough column in "the new york times" on this. in friday's front section of the "wall street journal" there was no news about this whatsoever. it was on the front page of other publications. fox is a different question, whether they're going to present themselves as a real news organization at all if they so badly mishandle this story. >> i feel very strongly about this. when cnn has controversy, i always cover it. otherwise, what you're signaling to viewers is there's a double standard. we're only aggressive when some other organization is in trouble. i think that can undermine your credibility. you said it's unnatural and stupid to expect -- >> i think it's unnatural and stupid to say, gees, if you listen carefully to what wolf blitzer says, it seems as though fox news is going out of its way not to give a lot of cover

. >> eric, there are people at fox news and certainly people at the wall street journal that have been in the news business for a long time. >> yes. >> it would seem to me that maybe a writer for the "wall street journal" would unequivocally say that they've had nothing to do with any of this kind of stuff. are they at that point right now? do they have a credibility problem with the american people? >> i think fox news has a credibility problem with the american people, i think the "wall street journal" does not. tell you how far this goes, the publisher of the "wall street journal" used to run murdoch's newspaper when this rampant hacking was going on, and then murdoch tapped this publisher to oversee a hacking two years ago. they said, we're clean, we don't see evidence of any wrongdoing, and now he's awarded as president of the "wall street journal." he overturned one of the biggest hacking problems ever or he was trying to cover something up. this is happening throughout the newscorp company now. >> british police say they're going to arrest former "news of the world" editor who a

memo that became the marching orders to the republican party to santa clause three it was the wall street journal he was very public about this and david stockman has come out and said this is what animated the republican wave white house he came up. he said the republicans have been losing elections because we have always been scrooge the democrats have always been santa claus they gave big the they gave the american people medicare they gave the american people medicaid they give the american people the forty hour work week since social security unemployment benefits you know on and on and on the republican said no to every one of those things you said republicans have got to figure out to be santa claus so what you do is when you take power you spend like a drunken sailor run up the debt really really hard as fast as you can and then when you lose power because cycles go around and the democrats come into power you scream about the deficit when as he laid out a memo in seventy six and the republicans have done it when bill clinton was in office they were screaming about the deficit george w. c

side of the pond, as you say, we're learning that there's now an fbi investigation, also "the wall street journal," the person who heads "the wall street journal" and was a news of the world editor at one point and also a news corporation executive as well, les hinton has had to resign. we're wondering about exposure here in the united states. >> yeah, well, you see i actually was under the misunderstanding that it was legal in the states because they were sharing leads around as friends where courteney cox hacked into her new boyfriend's phone to listen to his ex-girlfriend's messages and everybody made a big joke about it and i thought, huh, it must be legal in the states, but clearly it isn't. i have worked in america, but i certainly have never done it myself in america, can't speak for american journalists, but if your tv show is making a big joke about it, it's got to be pretty common practice in the states as well. >> actually it's not and when it comes to journalism here, it is not common practice. at least i don't know about it. and people i work with don't do it. but these are serious a

this has complications right down the line. >> but we all have to knowledge that the "wall street journal" has been reporting this story -- >> [unintelligible] >> not the slightest evidence of any misconduct on the part of the "wall street journal." and the 9/11 allocation is based on a single source, and named -- unnamed, in fact, unsourced report in a tabloid in england. ought to be looked at, but it is not as if there is any evidence other than one claim in one paper. >> but this has bigger problems for the murdoch empire. it has licensing applications all over the country. if the corporation is found guilty of a violation of the foreign corrupt practices act, it does not have to be here. and he has pulled out of the deal for the british sky. >> he was not going to get it. do not think he will not come back. >> the "news of the world" was founded in 1843. murdoch was not involved. [laughter] the talks about it in print in 1948. murdoch had not arrived on the scene. in the 1990's, all of us were titillated by the transcripts of the talk between prince charles and camilla, including a re

us for this half-hour discussion is amy schatz who covers telecommunications issues for "the wall street journal." commissioner, let's start there, what's it like to be the lone republican on the fcc? >> guest: over 90% of what the fcc does is not only bipartisan but unanimous. so it's probably one of the least partisan pieces of washington, d.c., you can find. so the party label doesn't always mean a whole lot. i've been there i guess the second longest with commissioner copps having been almost 10 years. i've been there over five years. that you choose some institutional memory to work with, but i think commissioner baker left, i don't member when. >> host: is their movement for another republican commissioner? >> guest: i don't know. all i know is what i read in the newspapers. as well on the democrat side. those would be paired up so that it's easy for them to travel through the confirmation process. but i don't have any firsthand knowledge but one would hope that's going to happen and it would happen sometime in the fall. >> host: let's talk about some of the issues at the fcc and congress

last hint in chief checktive of dow jones and publisher of the wall street journal is gone. news of the world has been shut down. many observers say john murdoch, is on the firing line. it may come down to where else james murdoch's prints can be found. >> james murdoch has made it clear he paid off a huge amount of money to gordon taylor who was a trade unionist who had his phone hacked. james has made it clear that he regards that as an error on his part and he much regrets it. >> reporter: if it's found that james murdoch knew more, smith says shareholders, board members may force his father's hand. >> if they were to really demand that james no longer be the heir, that he change the way the company is structured. he would have to listen to them. >> reporter: there are other reports that independent board membersover newspaper corporation are going even further questioning whether a change of leadership is needed. in other words, replacing james murdoch all together. contacted by cnn, a member of that board called those reports total crap. >>> some of the key players testi

here is the "wall street journal here is the "wall street journal headline." you can send us comments via e-mail. lots of ways to get involved this morning. as you can see, this headline, "greece gets new bail out as u.s. nears brink." many other headlines suggesting hot tempers around the capitol. tensions surface in "the washington post" this morning. joining us is the washington editor of "the fiscal times." you have the most straight-forward headline this morning, i see. what can you tell us about where things stand right now? things stand right now? guest: it looks as if obama and john boehner are trying to revive their grand bargain norks that fell apart -- bargain negotiations that fell apart a couple weeks ago. they are trying to patch things up with a goal of $3 trillion in deficit reduction over the next decade. it is a plan that clearly will excite the republican conservative base and is a major disappointment so far for liberal democrats. what they are talking about, really, is a package of cuts, mostly cuts in areas including government agencies,

in fact, surging in our latest nbc news "the wall street journal" poll. mann has moved into second place in the republican field with support from 16% of republican primary voters trailing only mitt romney. only a month ago she is polling at 3%. jim joins us now. to what do you attribute back map's success so far? at least in these early polls? >> i think it started with her performance in that first presidential debate. it's continued as she's spent a lot of time in iowa. gotten a lot of national attention. she's very appealing to staunch conservatives. there's always been room in this race for a staunch conservative. she filled that void. newt gingrich didn't fill it. sarah palin never got it. newt never took off. huckabee never got in. she filled that void. not only is she running number two in your poll, more importantly she's usually winning or running number two in iowa. the key for her is can she win iowa. if she does, it doesn't matter what mainstream media thinks of her, she will be a formidable force in this campaign. >> i wanted to ask you also

s prospects going into 2012 which is what senator john mccain and the "wall street journal" and much e this. but the thing is, they don't care about the politics or care about getting re-elected or the idea that politics should be the art of compromise and they could walk away and claim victory having pushed the president and the democrats to the point where they are talking about major cuts in terms of entitlement spending in this country in addition to spending cuts in terms of agency spending. so, the tax cut they talking about, closing loopholes, doing away with deductions, they are not talking about major tax hikes on 98 percent, 99 percent of americans. what are they talking about? >>shepard: and this is against the will. the polls show they, the membership want to close the loopholes that allow major corporations to make nothing, nothing in taxes. nothing. i will not go law the list. they did not pay a penny. close the loopholes. and lindsay lohan, senator from south carolina, and he has been a moderate voice in the party. lindsay lohan is now supporting the tea party idea here

newspapers i don't think he's run those newspapers there was the same prediction when he bought the wall street journal several years ago i think the wall street journal is still a very good newspaper people have been underestimating rupert murdoch for forty years and i think we underestimate him at some peril if we continue to do so in this case there are predictions that the deal for sky broadcasting may fall through i won't be so quick to make that announcement we'll see how this shakes out i do admire rupert murdoch because he's a risk taker when he bought the times and sunday times of london the newspaper business was absolutely in peril in the u.k. mostly because of the unions and because of some other economic factors he turned that around and he basically there are people who will say that he saved the newspaper industry and london because of the whopping revolution in one thousand nine hundred six so here's a guy who's not afraid to take risks and he's been well rewarded for doing so fabulous i mean let's be more said i like your cynical take on this even more cynical businesses are now here t