the new york fed wanted the finger at treasury department claiming they needed treasury's permission. although we have rejected the fed's claim that it needs treasury permission, i ask that you commit to resolving this issue and insuring that the committee receives the requested documents by the date of december 18. you can respond in writing. we will move forward. additionally, this question of prioritization of debt. you have mentioned in the past that you are unsure of your department, whether or not it has the legal authority to prioritize debt payments in the event of a failure to raise the debt cei

department of legal justice. >> it's fundamentally a policies question. i think your comment reflected i do not believe nor is any. the or treasury secretary -- >> i understand you have established that. let me ask you to answer my question. >> i have also said publicly that ultimately -- >> i appreciate that. i 1:45 left. if have you asked the department of justice's office of legal council whether or not you have the authority in the event of not raising the debt ceiling to prioritize debt payments? >> the issue of whether or not that decision was made is fundamentally a presidential decision. >> i know. but have you as tissue i are secretary of your department requested for the office of legal council whether or not you can prioritize. >> i'm trying to answer your question. fundamentally a question between the white house, council and justice department. >> okay. let me point you to the fact that "huffington post" article from last week said the obama administration took the platinum point option more seriously than it let on. this idea you have a $1 trillion coin minted and depositive ited the fed and draw upon that, it is --

treasury department. britain was the most important trading country in the world.they let the value of sterling fall, say, relative to the dollar and the franc, it meant that britain would be exporting much more and importing much less. we would be losing exports to the british and we would be swamped by british goods. our farmers, who were already having great difficulty, suddenly were confronted with a big drop in the price of cotton, wheat, and other agricultural exports. this was a great blow to the united states. schoumacher: the loss in exports forced many manufacturing plants to close. thousands more jobs were lost, and america was driven deeper into the depression. we find some who are maintaining that the world has outgrown the use of gold as a basis of currency and of exchange. schoumacher: tied to doctrines and traditions from the past, the hoover administration staunchly defended the gold standard, hoping that stability, in the long run, would encourage recovery. but in the 1932 presidential race, franklin d. roosevelt questioned the wisdom of hoover's

the pattern has continued at the department of treasury under your leadership. mr.clay had a very simple question and answer to him was don't blame me, i didn't know, it was my staff. in my case it was back on june 7, 6 months ago i sent a letter as king for details on three simple and straightforward questions regarding the irs scandal. first i asked when was the first time that you became aware of the irs targeting groups including of targeting independent of knowledge of the igc investigation. curiously, the answer came not from you but from some assistant secretary a month and a half later, basically refusing to answer the questions. the second question i asked was whether you attended any meetings within commissioner shulman and whether there was any discussions at the time regarding the iran's conservative leading organizations or their tax exempt status. and a couple other simple yes or no questions. again, a refusal from you to answer yes or no questions. i simply called her office and said would you mr. secretary give me five minutes on the phone to talk wi

this pattern has continued at the department of treasury under your leadership. mr. clay had a simple question and your answer was don't blame me, i didn't know it was my staff. in my case i sent a letter to you asking three simple questions regarding the i.r.s. scandal. i asked when it was first time you became aware of the i.r.s. targeting groups independent on the i.g.'s investigation. curiously the answer came not from you but from some assistant secretary a month and a half later basically refusing to answer the questions. the second question i asked was whether you attended any meetings with then commissioner and whether there was any decision discussions at the concerning the i.r.s. targeting any organizations and a couple of other simple yes or no questions. again, a refusal from you to answer yes or no questions. so then after several months more passed i called your office and said would you give me five minute tons phone and your answer was no, i cannot talk to you, too busy. so i tuferede have a meeting with you, not in my office. i agreed to go to your o

during the government shutdown the treasury department administration declared there were 90% of the treasury's 15,0009 irs employees deemed to be nonessential. including nearly every staffer of the financial crimes enforcement network and the office of foreign asset control. the treasury put out a statement on the state of affairs and it said this massively reduce staffing impairs ofac's abilities to execute terrorism financial intelligence broader efforts to combat money laundering and illicit finance, protecting the integrity of the u.s. financial system and disrupt the underpinnings of our adversaries. let me read some statements put out by the treasury on september september 27. it says the treasury assures the public that in the unfortunate case of a lapse of appropriations it will continue to provide certain critical functions. among them terrorism and financial intelligence offices will continue collection, analysis and reporting of intelligence as well as administration of the specially designated nationalists. a little bit later you put out another statement that said the of

and obviously treasury department has the lead on this. you'll be seeing treasury secretary alou here in a few minutes. the issue, currency manipulation is an issue that they focussed on from the start. engagement oneral down. every level, we've engaged in currency ng their towards the more market oriented exchange rate. g-20, the imf, the treasury department, the rest of the administration has worked to ensure that we kept market-oriented exchange rates on the agenda. plays to the tpp, it remains to be seen. consulting with congress, onsulting with the stake holders. we agreed with the seriousness of the issue. the question is how best and how effectively to deal with it. >> how would it play out? currency intervention rules into it, what would the u.s. give up? sketch that out? >> a number of ideas out there that's unclear at the moment. of issues people are focused on. ne is the kind of currency policies that china has pursued. some progress in regards to china since june of moved ere the currency 15%, 17% in real terms. it's not far en

when i work at the treasury department, we have 130,000 employees.re out what they are doing with your money. they need to see it and make sure they were counting for it and paying taxes on it and not sending it to charities financing terrorism. that is what governments do. they need to think about the macro economy and how much money should be in the economy? like governments and a lot of skeptics and the proponents don't believe it. dollar held up pretty well. >> on bit coin, why do we need it? we have pay pal and different ways. i don't see how it speeds up electronic transactions. we have ways to do that and there plenty of shadowed countries around the world that you can do. why do we need bit coin? why do the thieves need it? >> looking at bit coin as a currency today, tony hit on something exactly right. there is a limited supply that means people are incentivized to hoard them and not spend them. when you get beyond the use as a currency and start thinking about it more as a platform, there a lot of potential applications like with the intern

. >> in the meantime, a treasury department watchdog is noting potential problems come tax season. the inspector general says existing irs systems do not have the capability to detect fraud when it comes to the subsidies set up to help people buy insurance in the form of tax credits. administration officials say the irs aggressively safeguards its systems to combat fraud and that the health care system is no exception. >>> the results of actor paul walker's autopsy are expected to be released today. he and his friend were killed in a fiery and tragic car crash moments after this photo was taken of the "fast and furious" actor stepping into a 2005 red porsche. the autopsy would confirm it. investigators they they don't believe they were racing but speed is an issue of the crash. the production of "fast and furious" is on hold. we should mention universal pictures shares the same parent company as this network. >>> the piano man has a few more songs to play on that baby grand. billy joel will take up a monthly residence at madison square garden as the venue's first-ever music franchi

the treasury department exited its stake from general motors. congress passed a budget, and n y n the federal reserve are confident enough to taper the pace of their bond buying program. >> the committee decided to reduce the pace at which it is reducing the size of the federal reserve balance sheet. >> chairman bernanke, when should we expect to see additional tapering? >> a modest reduction reflects the belief that progress towards economic objectives will be sustained. if the incoming data supports the outlook for inflation, we will likely reduce the security purchases in further measured steps in future meetings. they thought its assessment of current conditions in the outlook which is informed by a range of indicators including measures of labor market conditions, financial conditions, and inflation pressures, the committee not anticipate it will be appropriate to maintain the current federal fund target well past the time that the unemployment rate declined to below 6.5%, especially if projected inflation continues to run below its two per

follows another big announcement yesterday -- five years and 4.5 billion dollars later, the treasury department has sold the rest of its stake in gm. taxpayers actually lost about $10.5 billion on this bailout -- sorry to say that -- but the stock actually hit a record yesterday. $40.90. back to barra, she has her work cut out for her. >> the biggest race going on is in technology and who comes up with the best powertrains at the lowest fuel burn. therefore, i think experience in r&d, engineering, which she has had some of, is really critical. i think the new challenge for safety and the new challenge for high-tech convenience all combine r&d, engineering, really critical. for general motors, as is true of some other auto companies, others are trying to achieve what i call worldwide cars. you buy the same car the same day, whether you are in europe or the u.s. or japan, and gm is a bit behind. those are the areas that i think mary will be challenged with, and i think she has had the background to do it. >> for separate brands actually comprise gm -- buick, sit -- four separate brands comprise g

there was integration just darting in the postal service and the treasury department. and there was friction there. wilson's feeling was i don't think this country is ready and the south is ready. i think it will be safer for everybody if we have separate but equal, which was the law of the land in those days. he thought a couple of things. he would make life safer and more peaceful for whites and for blacks if they didn't have to rub shoulders. wilson is getting attacked by both sides. whites were saying, why are you still appointing judges? why are you getting middle- management positions? you realize a black woman -- a white woman will be working on over a black man? that is unacceptable. deep down, he felt the southerners were not ready to accept it. to be really political about it, he had a very progressive agenda he wanted to pass. if he began integrating, he would never get anything past the southerners which were a good third of it. i just interviewed an author who has written a book about racism in the ivy league back in the day. wilson was obviously president

that suggests that particularly in the treasury department, the secretary of treasury, michael bloomen that saw the dollar declining and didn't really do touch stop it. of course, a declining dollar means nobody

the treasury department today said it sold the last of its shares in general motors.he obama administration gave gm may -- gm a $50 billion bailout in 2009 and it got a huge tax ride off in future profits. those profits have come roaring back. now sitting on $26 billion in cash. still, taxpayers will lose $2 billion, that is $10 billion the bailout. add that to the one-and-a-half billion lost on chrysler. ford did not get a bailout. a lot more to come this hour including if you want sap help with your wallet -- let me try that one more time. if you want some help with holiday spending in charity spending, we have recommendations. stay with us. ♪ as a business owner, i'm constantly putting out fires. so i deserve a small business credit card with amazing rewards. with the spark cascard from capital one, i get 2% cash back on ery purchase,very day. i break my back around here. finally soone's recognizing me with unlimited rewards! meetings start at 11, cind [ male announcer get the spark business card from capital one. choose 2% cash back or doue miles on every purchase

having served in the capacity of a member of the treasury department's advisory on the international monetary fund, that was the imf and i'm honored to serve though it's been renamed the vice president of the good imf the international international -- foundation. ladies and jumped him and it's an honor to be here this morning. the iam represents several hundred thousand active and retired members in north america. our members work in a variety of ministries including aerospace, transportation shipbuilding woodworking defense and elect tronics to name a few. iam members design, old and assemble and maintain the goods and services that keep the u.s. economy growing. and they keep the u.s. safe and secure. our members produce goods and services that are exported all over the world. while we believe in global trade and we have seen first-hand its benefits, our members have also felt this harsh impact. we dream of a global economy that works for u.s. workers as well as workers throughout the world. sadly we have a long way to go in order to make this a reality. for u.s. aerospace workers

. >> this came a day after the treasury department froze assets of companies. it says they are evading sanctions and hoping to bolster the program. joining me david coen treasury department under-secretary for financial crimes in charge of all of this. thank you very much for being with us. >> sure. >> shall would say you froze the assets, cracked down on these companies as a show of faith, show of force to try to preempt congress, those in congress who are arguing members of both parties and chairman of key committees arguing they should impose new sanctions or at least impose sanctions with a trigger date, which you and secretary kerry say would torpedo these delicate talks. >> these delegations were not designed to influence congressional action. we took these designations impose sanctions on a dozenentities involved in evading our sanctions, iran's nuclear proliferation activities. we have for many years and we will continue to take action to ensure iran is not able to develop its nuclear program. that was something that was explicitly carved out of the joi

twlech 2011 the treasury department sold its investment in chrysler. taxpayers lost an estimated $1.3 billion after the sale. now, in all, treasury invested over $80 billion in the auto industry. center for automotive research estimates the taxpayer losses totalled about $13.7 billion. treasury officials say the goal was never to turn a profit. they insist the bailout was successful because it prevented a worse blow to the economy and potential loss of one million jobs. some estimates say it would have been $50 billion in government benefits and lost income that would have been -- would have happened had the bailout not happened. in a statement released yesterday, president obama took a victory lap of sorts and said that the big three automakers are now strong enough to stand on their own. he said the industry has added more than 372,000 jobs, its strongest growth since the 1990s. the bailout was an example of the federal government and federal intervention actually working. the alternative to not bailing out gm and chrysler would have been more costly

access will be included in the regulatory component will be driven by the treasury department. they are down separate but parallel paths. >> what are the prospects for implementation of all the trade deals in the second term? will you give the authority to fast-track these things? can we get those two deals done? >> the president definitely supports giving the authority to congress. that helps set the parameters for negotiations stop as you know, that would require another boat. -- it would require an up or down vote. we strongly support that. we think we will get it. we have had a strong support of outrage -- outreach. we want to protect our workers and open up opportunities for the u.s. we were able to get both south korea, panama, colombia. the wto also had a big announcement recently. they were able to provide additional security through the trade agreement. trade is a big part of the president's attempt to grow the economy. and i think we will be successful in it. >> it is amazing to me that we are you talking about the presidential library for president obama, but there w

after he left the treasury department, he went to citi. >> went back to citi -- >> you say he made $126illion in nine years. >> no, he did. no, he did very, very, very well. and -- >> and you called rubin "the primmest of movers in the modern marriage of politics and wealth creation." >> he was the ambassador to the clinton wealth machine. i mean, even -- i mean, you had people like rahm emmanuel, who was a mid-level white house, you know, operative in the clinton white house, who, was able to go to wasserstein perella and make, you know, $16.2 or $16 point something million. >> $18 million in two years. >> and then before he went back to become a public servant again and run for congress. but yeah, bob rubin brought this whole generation of wall street people to washington. then he brought them back from washington to wall street, greatly enriched. and look, he's a hero to a lot of people on wall street. he was a hero to a lot of people in washington. and again, i think bill clinton more than anyone in the last, you know, few decades has sort of engineered this relationship. >> when we

treasury department officials say they completed the bailout for one of america's most iconic companies. they announced they sold the last of their shares in general motors. the automaker filed for bankruptcy in 2009. the government injected gm with a massive amount of government funds. they pumped about $50 billion of taxpayer money into the automaker, they recovered $39 billion through the self shares. gm will rebuilding its business as a fully private company. >>> that is going to do it for biz tonight. i'll leave you with the markets. >>> the head of the world's chemical weapons watch dog says he's confident of meeting an important deadline. he said workers are on track to destroy syria's stockpile by june, even if there are delays in moving it out of the country. >> there are very demanding timelines that we want to fulfill, and i'm confident that the deadline of next year, in fact, will be met end of june 2014. >> ozumchu spoke in oslo, norway. he's there to receive the nobel peace prize. the group wants to transport the most toxic weapons out of syria by the end of the year, but

as part of the 2008 bailout, the treasury department acquired a 60% stake in the company. the government took a ten-and-a- half billion dollar hit from the bailout. treasury officials contend the alternative of letting the carmaker go bankrupt would have had devastating consequences to the economy. when you think of rent-to-own, big-screen tvs and leather couches might come to mind. but what about tires? tire prices are at all-time highs. and consumers short on cash, are fueling this booming business. jackie keenan reports from florida. when it came time for rebecca kelson to replace the tires on her mustang, she couldn't afford to pay full price. but she found rent-a-roll to keep her ride rolling. she's been coming in every two weeks to pay her debt. i like the payment plans they have for you, it's pretty reasonable. kelson isn't the only one racing to rent n roll on payday. the rent-to-own industry's fastest growing segment is the tire and wheel business. here consumers rent or buy a new set of tires and make small weekly payments. if they take too long to pay it off, cus

and also to the treasury department so that any appropriate tax credits can be submitted to the insuranceompany for appropriate information. >> so that interaction between the federal and your state had to work in order for people to make a successful purchase, is that right? >> that's correct. one of the things that connecticut has done, however, we reduced the number of service calls required by 50% up front because we've always wanted to be as self reliant as possible. >> now they're talking about the possibility of errors that go as far as people who think they've completed enrolled. are you worried of people showing up at the doctors after the first legal day after january 31st, and finding out they don't have healthcare insurance? >> we're actually not worried about that. we've been testing the 834 file transmissions with the health plans beginning last summer, and we're very confident that that will not happen or should not happen. >> do you also rely on the federal government to pay some of the credits towards full coverage that some of your connecticut citizens are eligible to re

. >> a treasury department watchdog is noted potential problems come tax season. the inspector general for tax administration says existing irs systems do not have the capability to detect fraud when it comes to the subsidies to help people buy insurance in the form of tax credits. the administration officials say the irs aggressively safeguards the systems to combat any fraud and as the affordable care act is no exception. >>> the result of paul walker's autopsy are expected to be released today. he and his friend were killed in a fiery and tragic car crash saturday just moments after this photo was taken at the fast and furious actor stepping inside a 2005 red porsche. walker said the actor was the passenger in that car. the autopsy is completed tuesday should officially confirm that. >>> investigatesors say they don't believe that walker and his friend were racing another car. speed is considered a factor in the crash. universal pictures said tuesday the production of "the fast and furious 7" is on hold. the company has not said how they might change the movie.

the treasury department saysof by march. >>> meantime minimum wage employees in d.c.expect bigger paychecks. >> by the summer of 2014 minimum wages will jump from $8.25 to $9.50, 2015 to 10.50 and by 2016 it will be $11.50 an hour. as mola lenghi found out, feelings are mixed throughout the city. >> reporter: there's already been some resistance to talks about minimum wage hike. a few months ago wal-mart threatened to not bring stores to d.c. business owners and organizations concluded it will stunt growth and cause some small businesses to close, but not everyone sees this as a bad deal. could you get by on minimum wage, 8.25 an hour in d.c. >> minimum wage full time, the city, in the district of columbia, i don't think. so. >> reporter: you couldn't make it. >> right. >> reporter: if you're a minimum wage worker in the district, you got a raise this week. >> people who are working minimum wage still have to feed their families, pay rent, go to school. >> i think d.c. has arrived. i think d.c. is on fire. business is good and i think we do need to share. >> reporter:

and another billion or so to regulators probably including the controller of the currency and treasury department and there is likely to be a deferred prosecution agreement, which is a stiff penalty for money center bank. they would basically have to agree to reforms, with the justice department continuing to hold the threat of prosecution over their heads if they don't compile. >> you know, scott, jp morgan is writing a lot of big checks recently. what exactly did they do wrong this time or allegedly? >> we should point out it's allegedly and the bank said they acted in good faith. a lot of it goes back three years, almost exactly three years to a lawsuit that the bankruptcy trustee filed, the same allegations that jp morgan was bernie madoff's primary banker. all of the money flowed through one account, the 703 account and the bank had to know based on that. not only that, they were actually saling structured products, funds based on madoff's returns. they had to know where they were coming from and whether in fact they were real. >> now you mentioned a little bit about where the $2 billion, if

and treasury department to help police the program. in fact, senator grassley himself noted this week that director mayorkas convened a national security staff working group to examine the program last year. well, the actions i've described are not the actions taken by someone who does not care about national security. the audit report says that the eb-5 adjudication process is ambiguous. well, c.i.s. has recognized that there was a need for an adjudicated consolidated -- consolidated adjudication manual and they published one in may of this year. one more fact that is not even mentioned in the audit report. the audit report says that the program is fraught with the perception of outside influence. there is no denying the fact that this program gets a lot of attention, including from us, from congress. in fact, the u.s u.s. c.i.s. receives 1,500 queries about the eb-5 program each year from congress, from senators, from u.s. representatives. 1,500. as it turns out, almost half of our senate colleagues on both sides of the aisle have in

as we negotiate, our treasury department will remain absolutely determined to enforce our core sanctions, architecture which has deprived iran of more than $80 billion in oil revenue since 2012. we have deprived them of $80

the treasury department has changed his will that you can roll over some of the money. a lot of companies are not allowing that for this year. for many, it will start next year. octaves and tend to have a lot of specialties. a lot of people buy glasses at the end of the year so they can use that money. you mentioned, in some cases, it is not just these plans under the affordable care act, but a lot of employer plans andtightening up networks putting hospitals and specialists out of their network. a triple whammy about people trying to fit things in at the end of the year. >> the story speaks to something the caller alluded to, which is the affordable care act is a huge law. it is making major changes to the health-care system. for some people, the changes will be positive and for some people, the health plan will be more expensive or the network may be smaller. mind whento keep in reading headlines and thinking about the news about the affordable care act is that, like anything that changes the system as dramatically as this law does, there will be people for whom it is

treasury department planning to sell the last of its stock in gm by the end of the year. so interesting to me. do you think this proves what was first president bush and then president obama's bailout worked, austan? >> in a way, it did. we were facing the auto industry's big three at that time because of financial system was shutdown. i don't think we should use that as an aspiration. rather than these are good investments the government should be engaged in. you see manufacturing coming back. some of that is based on cost and productivity relatively shifting to the u.s. of the more attractive place to do business. some of it is we had a lot of pent up demand. people have been driving the same car as long as they can drive it until the fenders fell off. you have to eventually get new cars. >> that is so true. kevin and austan, thank you so much. >>> the american auto industry leaving the bailout in the mirror and thriving. we talked about the numbers. let's check out the flash. this is the new 2015 mustang revealed at the 50th birthday party. sleeker profile and more pow

today the treasury department has a full exit, ending nearly five years of government ownership. government had invested $49.4 billion to gain a 60% stake. jack lew said with the final sale of gm stock, this important chapter in our nation's history is now closed. tonight, we will discuss the major league baseball winter meetings that kicked off today. we will discuss the trade in the transactions to watch and its affect on the economy. that is coming up tonight. hope to see you then. by midnight tonight, members of congress need to enroll in the health care plan under the affordable care act. or they risk losing their government subsidy. us now fromly joins washington. lawmakers, are they having any problems signing up for health care? like every day, they are facing technical glitches. some sticker shock as well as they plan to drop their federal health care plan and sign up for the obama health care law. they have to beat some of their own cooking. they have to experience what their constituents are dealing with. the reality is, they have more options. 112 gold level planned b

thousand and seven u s housing bubble that led to global financial troubles sinc that crosses the treasury department has tried to steady recovery interest rates are close to zero within prince seventy five billion dollars each month. keep the money flooding into the market but the upswing has been slow in coming. instead it aims to preside over increased ability in its one hundred and sixty s. the main economic news from the us has boosted european stock markets arm at the frankfurt stock exchange when bart sent us this report. the german stock market was certainly in the giving mood one day ahead of christmas eve real good christmas cheer because that reached the new record high of the attacks of nine thousand four hundred eighty eight points. it's never been that high before it's only a few points shy of the ninety five hundred mark. the thing that i was responsible for giving that push up to this level of war remarks by christine regard. she's the head of the international monetary fund are well respected institution. and she said that because of the recent economic data that come out of the unit

settlement for transferring funds in the behalf of financier's for the militant group hezbollah the treasury department announced on tuesday concluding that h.s.b.c.'s actions were quote not the result of willful or reckless conduct treasury's office of foreign assets control it accepted a thirty two thousand four hundred dollars settlement from the bank ok so let's go back to a part. remember the boycott that broke the spine of apartheid was the barclays bank boycott. people and the pension funds in the institutional business they were pulling money from barclays and barclays put in motion the end of apartheid through to that bank that was seen as underwriting the new regime of apartheid in south africa so here you have a just b.c. in bed with hezbollah they just b.c. not only do they blow in the money from mexican drug cartels not only do they rip people off on the high street around the world and they are there you know they're not america they're not the world's local bank they're the world's local terrorist financing organization essentially so you have them financing as below. what is this really

taxpayers no longer own a piece of general motors the treasury department sold the last of the stock five years ago as part of a recession bailout. the government lost $10 billion but saved a million jobs >> and dow jones up five points in hopes congress might reach a budget deal this week. >> just ahead heert 6:00 weather's impact on california almond orchards. >> one c and why can you move the tv out here? the wireless receiver. i got that when i switched to u-verse. but why? because it's so much better than cable. it's got more hd channels, more dvr space. yeah, but i mean, how did you know? i researched. no, i-i told you. no. yeah! no. the importan and i got you this visor. you made a visor! yes! that i'll never wear. ohh. [ male announcer ] get u-verse tv for just $19 a month for two years with qualifying bundles. rethink possible. >>> abc7 launched a campaign to feed the bay area, all have you to do is take the pledge to give where you live. >> with each pledge we're going to donate to feeding america food banks. and everyone who takes the pledge will be entered to win $7,000 i

taxpayers no longer own a piece of general motors the treasury department sold the last of the stockyears ago as part of a recession bailout. the government lost $10 billion but saved a million jobs >> and dow jones up five points in hopes congress might reach a budget deal this week. >> just ahead heert 6:00 weather's impact on california almond orchards. >> one crop that will thrive in these temperatures. we all have our little tricks. mom swaps one of my snacks for a yoplait. i don't mind, i mean it's orange crème. and when mom said bobby was too edgy... 'sup girl. i just swapped him out for tyler. 'sup girl. mom never questioned bobby again. two can play at this game. [ female announcer ] swap one snack a week for a yoplait. and everybody wins. yoplait. it is so good. >>> abc7 launched a campaign to feed the bay area, all have you to do is take the pledge to give where you live. >> with each pledge we're going to donate to feeding america food banks. and everyone who takes the pledge will be entered to win $7,000 in cash. >> we've been talking about impact cold is having on citru

but that doesn't necessarily necessitate it let's let's talk about the the auto bailout the treasury department just sold their last shares in general motors and so you know we no longer own g.m. and or even any little piece of it and g.m. is doing really really well and this. was called a bailout but now that we've sold all the stock i think it's obvious that actually it was a bridge loan but whatever you want to call it this bailout saved two point six million jobs just in two thousand and nine increase personal income more than two hundred eighty four billion between two thousand and two thousand and ten and these are pretty nonpartisan numbers. this that two hundred eighty four billion in personal income is all taxable personal income that wouldn't have occurred so we're not even counting that in you know the tax revenues in against the you know that this is a net net positive doesn't the end now you've probably seen the ads that edgy is running on t.v. the merry christmas ads with the present a.g. comes out and says you know we paid back all the money and we fact the government made a prof

wants to do a financial transaction with iran can only do so with the explicit consent of the treasury department so the iranian people have lost eighty percent of their currency their currency has been devalued eighty percent in a west year just imagine if all of our paychecks were depleted by eighty percent people are hungry people are lacking medicine in other words the iranian people are negotiating with a with a gun to their head they want to change they want to new policy they've never wanted a nuclear weapon they've said we don't have a nuclear weapon the international atomic energy agency says they don't have a nuclear weapon it's the most inspected country in the world they want to change but the u.s. government is holding their cards because it's a power relationship it's a political relationship more than it is the issue of nuclear weapons right about the explain just how devastating these sanctions have really been because i don't think people really realize what they're doing and how it's pretty much been a force negotiation if based on what you just said close allies saudi arabia is