" for a wonderful stint at "the wall street journal" which i loved. e, for that. all right, the title of your article in the "wall street journal", bankers haven't gone rogue, regulators have. that tips your hand that you think it is regulators not the banks but put it in historical perspective. by historical standards is this period of fines and accusations and legal fees unusual? >> i think so, definitely. the, in last year the fines and, and -- legal fees. >> legal fees and so forth, $29 billion and that's more than double the 13 billion of the previous year and the previous 10 years was only nine billion so obviously there's a lot more activity. david: so what we're seeing now is very unusual, double what we saw last year, triple, quadruple what it was years before. is it this administration or is it all the new laws that this administration has to work with that is causing this vast increase? >> i think definitely it has to do with the dodd-frank act which became law in 2010 and the dodd-frank act of course is an enormous, long, complex thing. the

"the wall street journal" had a pay well from the very beginning, since the beginning of the commercial internet. they were probably the first news outlet to say, we are not giving away our content free. you have to pay for it. everyone said they were crazy at the time. the mantra of the information at the time was, it needs to be free. in hindsight, it was clearly a smart player. they have not lost as much from the internet because of the fact from the very beginning, they charge people. politico, it is an upstart, a fairly to the -- new blog. there is a free version that gets a lot of traffic, relative to its size and given its audience. they started "political protein and -- ao," i higher higher-end subscription model. a deeper dive, for more cost. by all accounts, that seems to be doing well and getting traction. there is another animal altogether. it is a community newspaper. community newspapers may have a harder time convincing readers to pay. their mode in terms of doing a payroll, still really new and the jury out in terms of whether it is a success for them or not. i certainly

kimberly strassel of the "wall street journal" and evan bayh. mistakes are a part of life. this is an awful lot of mistakes. >> i mean, not necessarily in context. i think as congressman king just said of the overall number of calls that are being put into a database somewhere and the amount of work that the nsa is actually doing the number one question here the only question is there any evidence that the government is aboozing its power to spy on americans and despite all of the conversation that we have had over the last couple of months we still do not have any evidence of that. >> john: do you believe that? >> john, any time our privacy is at stake. americans have to take that seriously. and some changes do need to be made. there needs to be advocate for privacy and having served on the intelligence committee for 10 years can i tell threw ha do need to be more resources so the independent branches of government including the courts can police this thing. but as kimberly was just saying 80% of the violations were either technical in nature or

but the "wall street journal"? a real newspaper? yes, rupert murdoch got the "wall street journal" a real newspaper and a real newspaper like "the boston globe" which this weekend found itself sold again. the globe sold 20 years ago for $1.1 billion, billion with a "b," but this weekend when "the globe" got sold to the owner of the boston red sox, it went for $70 million, which is less than 7% of its price in 1993. used to be that the newspapers were the big solid businesses that would buy up comparably wobbly baseball teams. the "chicago tribune" newspaper bought the chicago cubs in 1981 for a long, but now it's the baseball teams that buy the wobbly major daily newspapers. if you put the worth of the red sox up against the price paid for "the boston globe," it's not just that the team owner for the red sox could buy "the boston globe," it's that he could easily buy it five times over, ten times over, 15 times over. or if it was a news magazine you were after, even you could buy an almost infinite number of major news magazines sinc

the wall street journal story picks up on that. ic cantor said -- caller: i got a call from the republican party asking me to contribute money. i told the woman to stop reading from the script and i asked her a bunch of questions, such as why is boehner a political coward? why won't he fight obamacare? why won't he defund it? i have no use for the republican party anymore. . theyre afraid of obama are afraid of being called racist. these people, i would consider it a compliment if i was called a racist. i disagree with obama's policies. i have absolutely had it. i am more of a tea party type person. the only reason i am registered republican, because of the state of maryland, you have to be either one or the other to vote in the primaries. boehner is a coward and i have no use for him that includes i wonder if he was affected by the prison there. they must have really taught him good. he is sure going against our wishes. host: michael in ohio, you are up next. i am an orthopedic surgeon who is being driven out of business on the fir

the opinion section of the "wall street journal," the author is a senior fellow at stanford, he has aouple of points on the "wall street journal," he points out that host: this morning from inside the opinion section of the "wall street journal." next is a viewer from new york. good morning, independent line. what's i am afraid in egypt is what we had seen in out. in the 1990's when the muslim group over there -- they were denied and they went to the jungle. sadly, what the muslim brotherhood -- even if they did not administer their country very well, they had the right to govern this country and morsi should have been in power until his term ended. unfortunately, the whole world is trying to see the other way, now egypt is in bloodbaths, the country is polarized. now people are telling me that the muslim brotherhood is attacking christians. egypt is in turmoil. american leadership is nowhere. for the, thank you call. one of our viewers has this suggestion with regard to egypt -- to end the violence, military should reinstate morsi under condition that new elections be conducted withi

"the wall street journal" bought by murdoch and "the boston globe." >> i think what people are forgetting when we're talking about billionaires taking over the media, that's not exactly new. >> william randolph everyoherst how wealth -- >> i expect to lose a million dollars next year. you know, at the rate of a million dollars a year i'll have to close this place in 60 years. >> something bezos has in common. remaking the selling the news is next. >> bezos can spend an enormous amount of money on "the washington post" without really taking too much of a dent in his own private fortune so he has the leeway to make major experiments. >> everybody knows that newspapers have to change. >> donald graham insists the commitment to journalism won't change. >> we will become a place that does its traditional job and maintains its traditional values but tries things and i hope a lot of them will succeed. >> a sentiment echoed by bezos to employees saying the values of "the post" do not need changing. the duty will be to readers and not to private interest of owners. we'll continue to follow the tru

but by the way, when i worked for ford to my work for the wall street journal. ught that we were doing god's work. any time in his room wanted to cut anything we rail against it because you're interfering with the importance of covering, and we just did not get it. that attitude, it is time for that to fade. one reason the newspaper business lead and was losing for 30 years is because we're doing god's work attitude which has been a problem. neil: at least you sold off the faberge eggs. >> i work for a publisher that wants to make money. i need to do whatever i can. that kind of preciousness in the newspaper industry has hurt the industry. >> the silver lining as we are in a digital age and maybe we will see some modernization push the industry forward. he has things to offer and is interested in long-term investment. if you want to be up on the trend, this is a guy for it. let's see what happened. >> i had a conversation with rupert murdoch before he ever been on the wall street journal. i was preaching how great it wwuld be. it is not the fading thing but a col

nasdaq ceo tells "the wall street journal" markets need to be held to a higher standards, the latesth that undermined confidence. >>> football season hasn't started yet unfortunately but we're thinking about the super bowl. fox sold 85% of the ads for the game. reports say 30-second spots are going for more than $4 million. >>> and treasury secretary jack lew is urging congress to raise the debt ceiling. lawmakers can't afford to wait until the last minute. the u.s. is expected to hit the borrowing limit this fall. betty, back to you. >> borrowing limit. if you pay 4 million bucks for a 30-second ad. okay, courtney, thank you. >>> trastraight ahead, friday sports highlights are next. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzo

the headlines yesterday in the wall street journal, india is shocked by the removal of quantitative easing. we have done some of this ourselves. the more we can get back to our principles, the better off we will be. >> what about immigration reform? it is obvious the fluid piece of legislation depending on the form of the bill takes, if it gets through, is that something that could boost economic growth as well as the social security system? >> it will be good for growth and also for politics. it will be something that people can point to. we're not there yet, but i hope we can be. but i would not say it is the magic bullet to get the economy moving. >> any thoughts on immigration reform? addedhink we should have a while ago. if you just look at what is being proposed and will -- and if you look at the impact long term, not that it has any short- term negative effects, but again, it speaks to a political system that cannot get its act together. let me mention one other thing. john introduced it. thee are two views about world and the u.s. and global economy. the one view is the stronger we

an op-ed from the "wall street journal." disconnect lies in our failure to appreciate that while al-qaeda central has been badly weakened by counter-terrorism efforts, the group was never close to be extinct wished. >> that is correct. the president got away on jay leno, quote, we don't have a domestic spying program. media sat there and took that, too. but tom bloomer at news busters caught an example, on the tonight show he was talking about the geography of ports and charleston and savannah are on the atlantic ocean. and ap words to come him on that. president says media didn't jump on that either. >> kelly: we have to go on to something else. next to news watch, big news for a big newspaper, stay tuned. we got a lot more. >> "washington post" gets bought up by billionaire jeff bezos. how is the media treating it? and oprah winfrey talks about the trayvon martin shooting. does d she say the right things? answers next. i'm beth... and i'm michelle. and we own the paper cottage. it's a stationery and gifts store. anything we

wall street is still on the hook for the financial crisis of 2008. attorney general eric holder tells the wall street journal. even though it's been 5 years since the financial meltdown. prosecutions are coming--- soon. in holder's words to the journal : anybody who's inflicted damage on our financial markets should not be of the belief that they are out of the woods. it's not clear if the charges will be civil or criminal, but it could happen this fall. critics have accused the government of failing to go after wall street for its hand in the largest financial downturn since the great depression. betting against the stock market is causing major headaches for well known hedge fund managers.after crunching the numbers-- the wall street journal concludes...hedge funds are facing the worst losses in a decade by shorting the market.hedge fund manager make money when the stock drops. in one example the analysis shows the russell 3000 index contained 100 of the most heavily shorted stocks-- those stocks are "up" by an average of 33%. also, tesla is a stock that popular among shorts-- it's up more than 300% this y

it is an op-ed from "the wall street journal." it says the disconnect lies in the failure to appreciate while al qaeda central has been badly weakened by u.s. counter terrorism efforts the group was never close to being extinguish and adapted. anyone else in the media see at this time same way. >> i think that's correct. just not what we were told last year. look, i mean, the president got away on jay leno saying we don't have a domestic spying program and media took that, too. nsa does not exist. tom bloomer at news busters caught a great example of where the media covered for president on "the tonight show" talking about the geography of ports and talked about the gulf coast ports. charleston, savannah, jacksonville. atlantic ocean. and the media -- ap -- words to cover him on that. remin reminds me. >> some big news for a big newspaper. stay tuned. we have a lot more. >> the ash "washington post" gets bought out. oprah winfrey gives her view of the trayvon martin shooting. did she say the right things? sn is because i have to go

the wall street journal reports -- some of the trades have been cancelled, others corrected. yet-- there may be a price to pay for the mistake. reuters reports 4 senior tech specialists are now on administrative leave. at jp morgan chase-- a top litigation lawyer is said to be leaving the bank in the wake of a slew of lawsuits and investigations against the firm. about 13-hundred american airlines employees have been permanently banned from trading the funds available to them in the company's 401-k plan. another 800 have received warning letters. according to an investigation done by reuters, at issue is the practice of collective trading by a group. this can force fund managers into buying and selling securities at inopportune times. an investment advisor told the chicago tribune it was akin to "taking a chain saw to an ingrown toenail." in other news about american airlines- -- the carrier's profits doubled in july -- to $292 million. 2 trading exchanges are merging to take on the new york stock exchange. bats global markets and direct edge are combing to become the second

host: damian paletta "wall street journal joins us from the "wall street journal."hank you for coming on. even aside from things that commerce will have to deal back internationally, one of the things that will be a topic, number one, that of the debt ceiling. for those who do not understand it what is the debt ceiling? guest: congress passed a law decades ago that says the congress can only borrow enough money up to a certain limit to pay its bills. every few years, congress raises that limit. right now, it is about $16.7 trillion should when we get to the limit, the treasury department cannot borrow any more money to pay things like military bills, social security, medicare, or any of the other things for the court, white house, congressional spending, that sort of figured they have to raise the limit if they want to spend more money. every time we get in that situation, it becomes a big fight because obviously there is a lot of people on capitol hill that say the government spends way too much money, the white house says we need to raise the debt ceiling or a can

we have the latest on this story from the political and financial angles including the call by wall street journal columnist stevens to kill bashar al assad. mr. stevens will be joining us in just a few moments. "the wall street journal" editorial page, meanwhile, is calling for regime change. the white house says that's not what it wants to do. and i don't get that. another big story tonight is the debt ceiling battle. treasury secretary jack lew on cnbc this morning said president obama will not negotiate over the debt ceiling bill and now it looks like a battle royal is brewing in washington, d.c. these stories and many more coming up in "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." in a major developing story, nbc news is reporting a strike against syria could come as early as thursday. aids say president obama and no longer questions if the syrian government used chemical weapons. the questions are what will the u.s. do and with who's help. nbc's richard engel joins us now from the turkey/syria border with all the latest de

the older man also gave tamerlan tsarnaev his reading material. a "wall street journal" reporter recently visited his apartment and read a stack of newspapers mostly borrowed from mr. larking that allege nefarious conspiracies. the newspapers in his apartment included this one. the first freedom. equal rights for whites, the confederate flag there. the current edition of their newspaper advertises on its front page events for storm front which is the same nazi message board where the sikh temple shooter was posting about living the 14 word neo-nazi model. it was apparently something called the sovereign, the newman of the resistance it calls itself. at least in its current incarnation it seems to be a 9/11 truther thing, all about how secretly it's israeli lobbyist who is control the u.s. government and it was the u.s. government or maybe it was israel that really did the boston bombings. also something called the american free press which promises to tell you the truth that the establishment media won't about black mob violence continuing unabated across the nation and

joining me jay solomon of the "the wall street journal" and ray tack yea of the council on foreign relations. >> he seems more flexible and more pragmat anything terms of his dispositionment but again hasan rouhani is coming to the scene at a time when iran has a fairly mature nuclear program is so in 2003 when he was wrestling with this issue, he was attempting to maintain options that iran did not yet have. today he's trying to preserve what it actually does have. and advance the program. >> rose: we continue this evening by looking at the threat of a terrorist attack. joining me mark mazzetti of the new york time, peter bergan of cnn and continuing with us jay solomon of the "the wall street journal". >> now you know one of the questions that has come up in the last two days is the obama administration has claimed that al qaeda is in deep trouble. i think that claim is true. and they're kind of-- but they're also saying if the organization is if deep trouble why did we just close 22 embassies and consulates in 17 different countries. and i think both statements are true. i mean an organiz

then, someone leaked the plan to the wall street journal. you were furious. conference call with the board, and by your own account in the book, you were cold as ice. >> i was very, very distressed, but, as i also say in the book, when i get very angry, i get very quiet. >> did you scold them? did you talk down to them? >> i didn't talk down to them, but i was plain in saying, "this is unacceptable behavior." a line had been crossed, and when no one would fess up, i said, "we have to have an investigation." >> a leak investigation? >> yeah, a leak investigation, because nobody would admit that they had talked to the press. >> she says her investigation didn't use pretexting or any other controversial tactics, but it didn't find the original leaker, though tom perkins admitted he was a second source who confirmed the story for the wall street journal. at the next board meeting, carly says she intended to clear the air and move forward, but when she showed up, she was fired, effective immediately, and pattie dunn was elected chairman of the board. >> in the boo

today we are finding out that according to the "wall street journal" that the u.s. government, the nsa is spying on, i don't know what word you want to use, but surveilling 75% of online communications. nsa built a surveillance network than officials have publicly showed. it can reach 75% of all u.s. internet traffic. this is days after the british government destroyed laptops that supposedly had information from edward snowden's files on it. i mean, what are the repercussions of this? >> i want to say one can be disturbed about what was done to glenn greenwald's partner and one can be concerned about the extent that is being revealed by the snowden leaks about nsa leaking. one can be disturbed by all of those things. being disturbed and concerned and the general march towards secrecy does not thereby say and bradley manning should be pardoned or released. i just want to make that clear, that those -- one can be properly concerned about all of those things and think that the snowden effect is more good than bad, but that -- again, i would say that doesn't mean that

look at fox, the "wall street journal," usa today. may be give a shot. what do you think? ctually it will be a fascinating thing to watch. to get all of the post for less than 1 percent of his net worth he had to agree that he is that going to change anything at the top. the publisher, the president, the editor in chief, opinion editor keeping all the same people and get coming in to make big changes. how can he do both at the same time? and dying to see what he might do they get it more hip and to do what he did with the candle. neil: that this is all bowl. >> is interesting that the family who control this for years, since 1933 said they would not pass this over to someone with a different value system or a different world view. that tells you right there that yowill see the consistency. i don't think you will see an abandonment of fierce ideologues. the principles that they value, the very academia-based, you know, set of principles will go with them. he may face some resistance. neil: you kw, i could be wrong, and i don't want to be cynical, but i don't think it was tha

lou: if you ever wonder what those people are thinking come a new report from the wall street journalrs it the "wall street journal" reports that north korea -- corrina -- korea is to the with the custom of the epidemic between 40 and 50% of northern areas are addicted to the drug. north korea breaking bad. president oba trying to divert attention from a number of scandals by meeting today with a 1972 miami dolphins. joining us to take a look at his refusal to take responsibility we're joined by psychologist and a psychotherapist, thank you for being with us. what is this president thinking? what is going on? a contradiction to a major issue is the leading democratic senator who has been called out, scandals ever wear -- everywhere, the economy coming he is out of touch. >> the lame-duck syrome he is almost home free if he can get through this presidency whout a major scandal and many people are reporting there will be a scandal and something will happen with other members of the white house committee sayy let me take care and let me get through the term. lou: just ignore reality. [la

in fact, here is how the "wall street journal" describes it in today's edition. muslim brotherhood now faces an openly hostile national media, shriveling public good will and a huge security apparatus intent on destroying it. in point of fact, there's word today that the egyptian authorities may actually disband or outlaw the muslim brotherhood entirely, as it was for decades. does that now seem inevitable and, yes, wise? >> i think the "wall street journal" got it right. you're exactly correct here. and the "new york times," by the way, got it wrong. the "new york times" is really starting to say that the military government is overextending itself too much and that there's going to be even greater chaos, where the "wall street journal" today is saying that the military government has pushed back the islamists and the islamists are broken. i spoke to a senior u.s. state department official in cairo today who told me exactly this, that secretary kerry has spent the last couple of weeks putting all of our diplomacy through mohammed al bare aday in cairo. al beredi

host: in the wall street journal," -- "wall street the fed edges closer to the target. 7.0%, that is where the thatal -- "journal" writes is where the fed expects to be -- there is another number. 6.5% is the fed threshold for starting a conversation about raising rates. can you speak more to that? guest: the fed has been a major source of focus recently. the fed has this will mandate -- this dual mandate. they want to try to keep prices steady and they want to try to encourage full employment. we are obviously not there right now. the fed has taken some extraordinary measures to try to boost the economy. the two most notable pieces of that are that they have cut interest rates to nearly zero percent. because they met -- cannot cut them below zero, they started this bond buying program known as quantitative easing. they set the targets at which they are going to start to revisit those programs. the first of those is the seven percent target -- the 7% target. that's where they hope to have ended quantitative easing by, more or less. were getting pretty close to that. 7.4

the "wall street journal's" done very, very well with enhancing the personal journal, with enhancing the weekend journal, with having these things about mansions and clothes and lifestyle and fashion. and maybe hugh hewitt and i don't focus as much on that, but there are a lot of people out there, some of them maybe even female, who do. >> i actually love it -- by the way, i love their book review section. i like their style section. i think that stuff is great. so mike walsh, i think somebody put your finger on, it maybe it was you, i don't know who else, bezos is the quintessential customer service guy. okay? >> yes. >> i buy basically all my books from amazon.com. okay? i buy other stuff, but i buy all my books. so they're always sending me e-mails, constantly sending me e-mails asking me if i want this because it's just like that. or do i want that because it's just like the one i just bought. i mean, that's incredible. if they take the pulse of their audience in the newspaper business the way they've done it so well online, they are going to succeed because hugh, i hate to -- i

and also his stellar op-ed piece today in the "wall street journal," why regulations are killing new business in america. tom stenberg up next on the kudlow report. she loves a lot of the same things you do. it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, o

s vast databases in fact in one instance documented by the wall street journal's report all the e-mail and text communications around the area of salt lake city utah were monitored by the n.s.a. and the f.b.i. for a period of six months ahead of the two thousand and two winter olympics and just this afternoon the a.p. reports based on newly declassified documents that the n.s.a. has collected as many as fifty six thousand e-mails every year for three years belonging to americans with no connection to terrorism before the top secret files a court stepped in and ordered the n.s.a. to change its collection methods. so that is that for more on this topic i was joined earlier by i show you on a card you know a senior attorney for the center for constitutional rights in new york and brian doogan technologist at open technology astute here in d.c. and i started by asking brian about the government's claim that it isn't fully aware of the extent of edward snowden's leaks it's incredibly disturbing that the that they actually don't know what was taken the right that no audit trail was was creat

people catch up with it on the "wall street journal" but bonuses are getting more rare but guess who gets them now? people who don't deserve that nearly one-quarter of workers to underperform also get a financial bonus from the corporate bosses with a senior policy analyst analyst, welcome back to the show. come on. people getting bonuses? why is this happening? >> the could be a few different factors but i hope that some of these firms that give them to employees the policy is to simply give a bonus to eve worker but i hope in those situations there are bigger bonuses for those to me to dictations. gerri: but the pool gets smaller every year it is particularly curious that you just given out you think managers are just too afraid to tell people they're not doing well? >> we know that workers and employers do better with the incentive based worked environment we know that they grow faster and are more profitable and also report more satisfaction so it is a great thing i can imagine why they would shy away from but they make a big mistake. gerri: but rewording bad behavior does not des

. ♪ >>> in business news the "wall street journal" reports the justice department is preparing to file cases against financial firms related to the economic crisis. eric holder declined to tell the paper about specific cases or when the case would be announced, but he said he wouldn't leave his job before making major decisions from cases stemming from the collapse. >>> home resales rose in july to the highest level of three years. sales jumped 6.5%. meanwhile application for mortgages are falling for the second straight week, higher rates are hammering refinance activity, which has dropped about two-thirds over the last three months. >>> and lowe's is riding the housing recovery to monster profits. they earned nearly a billion dollars in the last three months, and expects the rest of the year to remain strong. the performance comes the day after home depot posted record earnings as well. >>> 3,000 hours of tape recordings covering the height of the watergate scandal, they are expected to show how nixon continued policy while dealing with the allegation that ultimately forced him to re

networks more unnamed government and intelligence officials told the wall street journal that the n.s.a. has the ability to monitor seventy five percent of all the domestic internet traffic here in the united states it does this through a series of relationships with internet providers that at the request of the n.s.a. hand over various streams of traffic to be further reviewed using complex and essay algorithms now how these requests are handled differs between each internet provider with some internet providers employing their own legal team to determine which data should be handed over to the n.s.a. and which data should it and often the way these requests are handled has caused friction that's a quote has caused friction between internet providers and the n.s.a. and definitions of what exactly is a foreign communication to be handed over to the n.s.a. is still being worked out but as officials say americans e-mails content american e-mail content and metadata is inevitably being swept up into the n.s.a.'s vast data bases in fact in one instance documented by the wall street journal'

the shorts on wall street. charles is going to love this story. new report from the wall street journal revealing the 100 most heavily shorted stocks on the russell 3,000 sharply outperforming the average return of the index. with that we turn over the floor to something we talked about a few times. charles: i had, my company is publicly traded and the shorts destroyed by stock. i have a personal vendetta. i don't like the shorts in the sense that i know they have a purpose but for too long they have been able to run amok. connell: you are not patrick lynch or whatever. charles: i won't where of bear ray and say space ships are landing but i will say the balance has been shifted so much particularly for small names, literally thousands of companies, publicly traded companies with no brokerage oversight, no one rice research reports and they are at the mercy of these shorts and they don't trading volume for these large hedge funds which go after other companies and not doing well. the top 100 stocks are up 38%, 33%. take this. that tells us these hedge funds for too long got lazy and the

reporter: the administration was forced yet again to defend nsa surveillance after today's "the wall street journal" report that found the agency monitors 75% of all internet traffic in the u.s. >> the report in "the wall street journal" was clear about the fact what we're talking about is a narrowly focused program aimed specifically at foreign intelligence. >> reporter: but the journal found in some cases nsa quote, retains written content of e-mails sent between citizens within the u.s., a finding that fuels fear that they're not being forthright. >> the constitution doesn't allow a single warrant to get a billion phone records. >> reporter: the administration has petitioned the supreme court to allow police to search cell phone records without a warrant. today's smart phones are an encyclopedia of private information and a tracking device. >> the phone company at any given time knows where you are as a result of a technical function of the network. >> reporter: that capability demonstrated by two computer scientists in 2011. they discovered the apple iphone and ipad were recording user location

that was leaked. >> to "the wall street journal." >> to the media, right. so the very thing the board was complaining about -- >> so now -- >> no, i'm just saying. i'm just saying. right. >> i disagree. i think when you start putting out press releases under your own name that are pages long, i mean, and these are letters supposedly internal letters that are supposed to be sent around and then describing what's actually happening, you can't do it. now, i don't think you can kick him out of the board, but i think you can de facto, exclude him. >> so a targeted leak with no press release is okay? i think either one. you're talking about a board now in disarray. >> look, it would be better if nobody was leaking, but i think that he started the fight. i'm sorry. you can't -- you can't run a company with a guy on the board -- you can't plan to have meetings knowing that the meetings are going to be to the public every day. it's just impossible. you can't do it. >> i agree but i think that they are doing the same thing that they are criticizing with this article

joining me now is a reporter for "the wall street "the wall street journal."k you have done a great job of tracking the trend in enrollment rates. what is going on up there? >> well, every year colleges have to seek yields. he had a certain amount of students and they hope that a certain amount agreed to go to college. a couple of smaller schools in the country this year mised their targets pretty substantially. this obviouslyeans a huge financial shortfall. many are afraid tht this has a lot more problems for education. gerri: it's fascinating because u never hear about it. yet you have at "the wall street journal." loyola university in new orleans, a very good school. there will be 25% fewer freshmen than the university was banking on. likewise, st. mary's and morehouse college, all of these colleges getting fewer than 700 students. our students finally getting smart about the cost of education where? >> well, ihink higher education is very fearful that they have finally hit a wall. they have been raising prices every year, year after year. after thisrecessi

the "wall street journal" reporting that attorney general eric holder is now preparing to announce newes related to it the financial disaster, the economic meltdown of 2008 in the coming months. the attorney general telling the "wall street journal", anybody who has inflicted damage on our financial markets should not be of the belief that they are out of the woods because of the passage of time. legal experts say it costs and nothing to engage in saber rattling and is not at all clear whether he will, in fact, take action against those responsible for the financial crisis. on wall street today stocks finished near session lows, a volatile session after of -- the release of the federal reserve minutes. the dow jones industrials fell. the nasdaq down 14. crude-oil fell for a third straight day. now down to 103, repudiating the claims of some savant's to say tensions in egypt and syria are driving oil prices higher. certainly not for the past three days. i suppose you could say both new york politicians cheating on their lives. only one of them is being given a shot at redemption. only o