speaking at the summit in hawaii, tim geithner said leaders have been discussing how the asia-pacific economies can strengthen their own defenses against the fallout. >> the crisis in europe remains the central challenge to global growth. it is crucial to all of us that europe move quickly to restore financial stability. we're all directly affected by the crisis in europe. the economies of the asian- pacific region are in a better position than most countries to take steps to strengthen growth in the face of the pressure of europe. >> tim geithner. the washington national baseball team in the united states has been kidnapped by gunmen in venezuela. he is a catcher for the major league team and was back, during the american off season. does a venezuelan government has says it is pursuing the kidnappers. >> in baseball -- such is the case with wilson ramos, a rookie catcher with the washington nationals. he returned to venezuela and during the off season and was due to play for his venezuelan team. however, on wednesday, a group of armed men kidnapped him from outside his parents' home

he says i can't believe she said that without tim geithner being here to defend himself. forget about the material issues. summers reports to roemer minutes after. christie, rahm was livid that you would save that without tim to defend himself. jesus, rahm she's right. there isn't a plan. i asked the president about this. it wasn't an easy moment in our interview at the end of the process. i said, you are agitated. i by a notch or agitated would be the exact word i would use. what did you say to tim? i don't remember exactly. the bureaucracy wasn't moving as fast as i wanted. it is a term of art i suppose. this stuff is just hard, wrong. it was hard. harder than i could have imagined to come up with solutions. i talked to geithner too. he is in the book. you can read it yourself, to a page is. he affirms that he did what is shown in internal memos. he slow walk to the president. what does that mean? it is reflected in mmo in february 2010 from shadow chief of staff, a brilliant washington actor who who was chief of staff in the obama senate office where he talks about the

signature would make it the first fragment of his jobs package to be enacted. >>> treasury secretary tim geithner is already in hawaii for this weekend's apec summitt and president obama is arriving tomorrow. he will host 21 world heeders for the annual asia-pacific economic corporation forum. geithner says he and the finance minister have agreed to everything necessary to prevent europe's financial crisis from threatening the global economy. >>> more fallout over the mishandled remains of u.s. military war dead at dover air force base. dcyf secretary leon panetta has ordered the secretary. air force to reconsider his decision not to fire three supervisors at the military mortuary. but veterans groups say more needs to be done. sherry ly at arlington national cemetery with more. >> reporter: well, the mishandling of remains at dover air force base are reminiscent of what happened here at arlington national cemetery n that year-long report on dover, it shows that some of those remains ended up in a virginia landfill. dover air force base in delaware is where america's war dead come home, a scathin

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normally mild mannered tim geithner came out swinging at republicans this week in an exclusive interview with cnn. stephen moore will get his chance to swing back next on "your money." stay with us. personal service, personal service, 5-year price lock guarantees and consistently fast speeds. ♪ >>> this was a week in the united states where a lot of the political discourse was focused on anything but economic issues, whether it was rick perry's memory lapse or continued accusations of sexual harassment against herman cain. chrystia, is there a chance, and i'm hoping not despite everything else, is there a chance this election could turn on things that are not economic, even though for three years now the voters of america have said the economy is their number one concern. we are spending a lot of time on things not about the economy. >> yeah, but it's 2011, not 2012. i think that when when push comes to shove, people are going to focus on what really matters. i have a lot of faith in american voters. look, i think these other issues, they are easier to think about. they are more fun. the

. >> david, treasury secretary tim geithner and the counterfeiter in chief ben bernanke borrowed so much they have increased it to 3.9 percent over the last. this kills earnings for seniors and people with fixed income. and the increase is basically zero . so why the president is waging war against the seniors and destroy their living standards, i have no idea. >> president and ben bernanke counterfeiter in chief, would you use that praise. >> it is an exgagation. it is in the fed's interest to have inflation to get out of the asset-debt problem and engineering it to some degree. it is uneven . david you mentioned toll prices and gas prices. >> and government's prices go up. >> and gas prices are because we are importing gas. over all. we are not seeing inflation or wages and in housing. you have a lot of slack in the system. >> you can't do without it like food and like gas. i mean, these are things that you can't afford. -- avoid. >> it is a problem of money supply and why the federal reserve knocks out food and energy. and i got to say you got to eat food. >> it is showing up and boom

, in this bleak economy christmas means more than ever our best hope to fix the deficit is for tim geithnero ask santa for $14 trillion worth of scarves with gift receipts. (laughter) but instead of helping santa, bureaucrats out there are sticking their budget-cutting fives into his bowlful of jelly. jim? >> faced with drastic budget shortfalls suffolk county new york has laid off santa. david mckel has been playing the part of santa at the st. james general store since 2001. the store's is partially funded by suffolk county and due to belt tightening this year, santa's $6060 contract was canceled. (audience reacts) >> stephen: they fired santa! how is he going to break this to mrs. clause? oh, they're going to be eating a lot of venison this winter. (laughter) here's the worst part, folks... if you have kids watching get them out of the room, okay? this is the secret i'm about to give out. this guy at the suffolk county general store, he's the real santa! how do we know? because he fought in world war ii. (audience reacts) do you really think we could have beaten hitler without santa? i m

wall street opposes this tax, so does tim geithner, president obama does not support it. >> if the united states did this people would go to other markets and trade there. and so if you're going to do it, have you to do it everywhere. >> and with a g.o.p. controlled house it would be dead in the water. >> you can't quiet them. you can't tear gas them. there is 99% of us. >> here is the official statement from wells fargo. the company said wells fargo is committed to serving financial needs of customers and keeping credit flowing. that cape to us this afternoon. i'm live in san francisco, abc 7 news. >> and thank you very much. and weather has taken a sudden change just as predicted. >> that is right. there are reporters out there with rain coats. and there is a look. >> there is light rainfall. i want to show you. it's enough that it's slowing down evening commute. and there is where this is raining now. there is san ramone, you can see around dublin area we're getting light showers now. towards milpitas area there is a little bit heavier here, panning here you'll notice that san jose is

. >> tim geithner -- >> instead it's all or nothing. >> tim geithner did that before going to europe.d according to reports mcconnell said essentially what you said, that democrats don't really want to make a deal, that the president wants this stuff to fail. geithner said no, that's not true, we've put forward a number of plans. >> yeah, but when you hear him on the campaign trail he says we won't pass his jobs plan. the vice president says we're responsible for rape and murder because we won't pass their jobs plan. that's the kind of rhetoric -- people are saying we're not going to compromise, that gets us nowhere. i had a very good discussion with the president one-on-one and personally said i would work with him. i still stand by that. i will work with the president. i will work with him to find middle ground. but it doesn't help if he's calling us names on the campaign trail all the time. >> senator rand paul, appreciate your time, sir. thank you. >> thank you. >> keep in mind you heard senator paul claimed president obama called republicans stupid. i did some checking. we found

. >>> warning from the treasury secretary tim geithner to europe. saying europe is not doing enough to fix the financial problems. he said if european leaders don't make moves we'll all pay the price. plus, a country located close to iran reportedly ready to begin stocking up on bunker busting bombs. is there a war plan in the works? you're watching the most power of name in news. you know it. fox. i habe a cohd. yeah, i toog nyguil bud i'm stild stubbed up. [ male announcer ] truth is, nyquil doesn't un-stuff your nose. really? [ male announcer ] alka-seltzer plus liquid gels fights your worst cold symptoms, plus it relieves your stuffy nose. [ deep breath ] thank you! that's the cold truth! and these come together, one thing you can depend on is that these will come together. delicious and wholesome. some combinations were just meant to be. tomato soup from campbell's. it's amazing what soup can do. >> harris: stocks ending this week of whiplash on a positive note. the dow erasing huge losses ending up 200 points. nasdaq climbing 54. and s&p climb

. >> tim geithner -- >> instead it's all or nothing. >> tim geithner did that before going to europe.ith mcconnell and according to reports mcconnell said essentially what you said, that democrats don't really want to make a deal, that the president wants this stuff to fail. geithner said no, that's not true, we've put forward a number of plans. >> yeah, but when you hear him on the campaign trail he says we won't pass his jobs plan. the vice president says we're responsible for rape and murder because we won't pass their jobs plan. that's the kind of rhetoric -- people are saying we're not going to compromise, that gets us nowhere. i had a very good discussion with the president one-on-one and personally said i would work with him. i still stand by that. i will work with the president. i will work with him to find middle ground. but it doesn't help if he's calling us names on the campaign trail all the time. >> senator rand paul, appreciate your time, sir. thank you. >> thank you. >> keep in mind you heard senator paul claimed president obama called republicans stupid. i did some che

speaking at the apec summit in hawaii, tim geithner says leaders have been discussing how the asia-pacific enemy could strengthen their own defenses against a bailout -- a fallout. >> it is crucial to all of us that europe moved quickly to restore financial stability. we're all directly affected by the crisis in europe. the economies of the asia- pacific region or in a better position than most countries are to take steps to strengthen growth in the face of the pressures from europe. >> you have news of the sports star that has gone missing. >> he is a member of the washington nationals baseball team in the united states. he has been kidnapped by gunmen in venezuela. wilson ramos is a catcher for the major-league team and was back, during the american off- season. the venezuelan government has said it is pursuing the kidnappers. >> in baseball, there is little which makes vans more proud than a local player making good in the u.s. major leagues. such is the case with wilson ramos. like many u.s.-based players, he returned to venezuela during the off-season. however, on wednesday, a group o

. >> tim geithner went to europe and said that european leaders have failed to show the right kind of leadership to fix their economy. >> you can see why european leaders would not be very interested in hearing mr. geithner's critique. on both sides, the problems are political. in europe, the institutions don't exist. here we are gridlock. but we could solve that, but we can't get beyond partisan politics. >> why not? they all say exactly the same thing, but as an outside observer, what is unlocking the political system? >> both parties have been hijacked by their most jihadi positions. this situation derails any kind of useful debate and we will need both sensible tax hikes and sensible entitlement cuts in order to get the budget back on track and it needs to happen soon because the worst case scenario is we keep going through this process again and again in 2013 and 2014. and you will start to see u.s. growth has downgraded. >> next year is an election year. are there any chances that some progress could be made? is that something that could force in the the president or congress to

my instinct is, even tim geithner can get his taxes in on time with this. >> all right n. your book, also, you write in terms of the economy, there have been three big chances the republican in party history, one is president reagan's election, the second is contract with america and the third is election 20,000 when -- election 2000 when president bush came into office. but you are critical of president bush and the compassionate conserveatism and he didn't make the tough decisions, roadwaysing that he had 9/11, which is the intervening cause. but i'm curious, what makes you so different that you would accomplish so much more? >> obviously, the economy is very different in the world we are living in now. americans are looking for executive leadership that has experience of cretting jobs. there is not anybody on the stage on the republican side that can match my job creation record. while america was losing 2.5 million, we were creating over a million jobs in the state of texas. we understand you have to create an environment where the men and women who are entrepreneurs c

secretary of the treasury, tim geithner, echoed chairman bernanke's overall assessment. >> it's still very tough out there. the people are very frustrated and still hurting growing fast enough. >> the u.s. unemployment rate came in late this week. it at 9% or higher. question, are policymakers around the world starting to fear that they don't know how to restore the economy that existed in 2006, before the meltdown, mort? >> yeah. i think it's a huge problem not only in the united states, but in europe as we see. the problem begins with an absolute overwhelming amount of debt overhanging the economy. and until that debt gets worked down, we'll have a very slow growth in the economy. and the opportunities that we had to turn around the economy when when the stimulus program, frankly, the stimulus program was badly structured and adequate and didn't work some we're now in a situation that we have very few tools left in the toolshed for any government do anything very much at this stage of the game. we cannot afford another huge increase in our deficit and nor can they in europe. so we h

first of all the excuse for inaction on the gst the tim geithner wouldn't let you do is the least possible and i have ever heard. it is the unicorn ate my homework, not even the dog. when mr. garrett and others new, you raise the gse issue. my republican talk looks up to what to do with the gses when they were minority. when their majority they don't do. but i do want to point, make another point here, that is about the bonuses. this committee last year passed a bill that was actually 2009 we passed a bill to restrict bonuses, to prohibit bonuses for recipients of federal funds. i take the chairman's point, you distinct between the private and public sector. we had private sector restrictive language but the bill, h.r. 1664 passed on april 1, 2009, said as follows, no financial institution has received direct capital investment, t.a.r.p. are with respect to federal national mortgage, federal home loan mortgage or federal home loan bank while the investor made compensation payment other than a longevity bonus or payment of restricted stock commentator. so this house passed over the object j

we have had tim geithner going to europe.a sense that it is their problem and they will have to straighten it out and we have left them to do it. they did not really want to take advice from us because all they felt we began the whole thing with our own problems. >> with the mortgage disaster. >> right, i think it begs the question about whether the euro really is going to be viable. how much longer will germany going to put up with this? >> consider how you dismantle the currency. it is like an empire. empires are messy and when they come apart. dismantling a currency, you have to have amazing cohesion to do it. >> what happens is it collapses. >> at exactly. >> we're not as looking at greece but spain. >> i don't understand what you mean by collapse. you will have to replace it with local currencies that preceded it but there is no orderly way. there is no economic textbooks which says how to get out of that multi-national currency back international currency. >> i have seen gold at $5,000. >> i am very disturbed by the pri

this may be an area where we have bipartisan agreement because the clip that we just played from tim geithner saying europe has the ability to solve this problem is what mitt romney said at our republican debate. are they saying that because, in fact, it is true? or are they saying it because of the scope of the problem and the potential consequencings are so big that nobody wants to touch it? >> both could be true. herman cain's response is 9-9-9. i thought that was an interesting response. the americans can do two things. behind the scenes they have tried to buck up the strength of the germans and the strength to leverage their bailout fund, get more bang for their buck. on the other side they tried to shoot down some pressure to expand the i.m.f. and have their do their lending. the americans says, you don't need the i.m.f. and we're not going to let you use the i.m.f. as an excuse to do what you have to do. u.s. banks don't own a lot of italian and greek debt but european banks do. >> domino effect. if italy goes down, then your banks go down and very quickly our banks will go in trouble.

tim geithner meet with him more often than that. he does come in and we have small meetings with him on the president. i think what we try to do is make sure we are using their expertise, make sure we are consulting with them on issues like housing, make sure that the chairman has a chance to speak to the president to tell him his views. but on the other hand, always make sure that we keep the line clear that they are independent and that we are not seeking to influence them in any way. >> what about the so-called belen chinese tariffs? with the president veto that bill or signing it becomes in its current form? -- or sign it if it comes in its current form? >> i think we share the aspiration of that bill to try to create a more level playing field between us and china. there is little question that their currency is not determined by market forces. and that puts our workers and companies at an unfair disadvantage. we have said that if the bill is moving forward we want to make sure it is consistent with our international obligation

tim geithner says the new measures target companies that support iran's oil and pet r.o. chemical companies. the victims in britain's phone hacking scandals have to say. and the debate over police and pepper spray when the "cbs evening news" continues. [ male announcer ] it's that time of year. time for campbell's green bean casserole. you'll find the recipe at campbellskitchen.com. ♪ campbell's. it's amazing what soup can do. i habe a cohd. and i toog nyguil bud i'm stild stubbed up. [ male announcer ] sorry, buddy. truth is, nyquil doesn't un-stuff your nose. what? [ male announcer ] it doesn't have a decongestant. really? [ male announcer ] you need a more complete cold formula, like alka-seltzer plus liquid gels. it's specially formulated to fight your worst cold symptoms, plus relieve your stuffy nose. [ deep breath ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus liquid gels. ♪ oh what a relief it is! ♪ and last chance at medicare open enrollment, too. what do you mean? it ends december 7th. if you haven't r