warns the poor crop could push up prices on the high street if get in the door she an economist at trust bank says the drop could lead to inflation but not straight away. this is very likely to generate negative negative negative price growth rates in august with the piece will be deflation so finally we will see and this will decrease the total year to be inflation from four point seven percent four point eight percent by the end of july to a lower. them but the situation may change unfortunate because of the sort of like that. for us. weaker than usual and the decrease in prices will be limited and patient will begin in september and will be. fostered then one might have expected about the drought. and finally did football club is the most valuable franchise in sports according to forbes magazine the english premier league joint top the list of the world's most valuable teams forbes estimates of munched united to be worth one point eight four billion dollars with the national football league's dallas cowboys in second place but even so they warn it has around one billion dollars worth of de

>> regulation makes it so they cannot act like casinos and nothing happens. >> i trust the bank, i am not sentimental. i don't care who is in charge. i might leave my money with them if they have money. >> i don't trust anybody. when you end up putting your money in cd's for less than 1% interest, you realize how little trust there are -- there is in the economy. >> we trust you. see you next week for a transcript of this broadcast, log onto inside

high street joining me now to discuss the economics of too little rain is you have danny economist trust bank yevgeny thanks very much for joining me now the head of the grain union thinks the drought could lead to a two percent rise in inflation in russia do you think that's possible i'm not a pessimistic and so. the inflation pressure will be livid versus the end of two thousand and ten but i don't think that peace will be increased that high if not only to compare with the more aggressive or forecast for example heard from the monitor authorities like inflation russia may be no more than five percent in two thousand and ten this is no longer ality with four point seven since the beginning of the year by now but when do you i mean if we're going to see effects of this drought in recent prices when will we actually see on the high street i think this will be seen more like you would begin the fourth especially in the middle for them because august is usually the mom when prices are not growing right in the end may even decrease these drought may help prices to decrease because you get a lot

in economist that trust bank says the drought could add to inflation but not straight away it's very likely to generate a negative negative negative price growth rates in august will be deflation so finally we will see and this will decrease the total year to be. four point seven percent four point eight percent by the end of july or what. but this is. unfortunate because of this for like the. produce. for. the decrease in prices. limited and innovation will begin in september and will be . faster than one might have expected about a drought now the russian government wants to restructure kotex and raise excise duty on petrol speaking exclusively to see alex a rock mana from the ministry of industry says his department will push for further changes to the tax regime if proposals fail to make people buy more more and greener cars eve for example who will be a decision to council transportation tax and migrated towards the excise us don't really have to do the calculation to understand whether and how we can also manage differently newall incentives because if the will be structured in

warns the poor crop could push up meat and milk prices if get in the door she an economist that trust bank says the drought could add to inflation but not straight away this is very likely to generate negative make make it make it to price growth rates in august this will be deflation so finally we will see and this will decrease the total year to be inflation from four point seven percent four point eight percent by the end of july to lower. them but this occasion a change of fortune because of the sort of like that. because for us a little before we could really be decreasing prices will be limited and will it be in september will be. passed one might have expected. now the russian government wants to restructure kotex and raise excise duty on petrol speaking exclusively to see. from the minister of industry says his department will push for further changes to the tax regime if proposals fail to make people buy more more and greener cars eve for example who will be decision to council transportation tax and migrated towards the excise us didn't really have to do the calculation to unders

that the poor crop could push up prices on the high street if get in the door she an economist at trust bank says the drought could add to inflation but not straight away. pieces of her like. negative make negative negative price growth rates. will be deflation so finally we will see and these will decrease the total year to beat inflation from four point seven percent four point eight percent by the end of july to the lowered. them by this occasion a change on fortune and the proposal for all this but are likely to continue so because before you will will be weaker than usual and the decrease in prices will be patient will begin in september. so. one might expect that. that's it for now you can find more stories on our website dot com slash business and i'll be back in fifty minutes. wealthy british scientists and time to. market why not. come to. find out what's really happening to the global economy with much stronger for a no holds barred look at the global. headlines tune into kinds of reports on our. tories which are made to police children. harm their health. ministers should illness

warning the poor crop could push up meat and milk prices if get in the door she an economist a trust bank says the drought could lead to inflation but not straight away. this is very likely to generate negative information make negative negative price growth rates in august with the piece will be deflation so finally we will see. this will decrease the total year to the inflation from four point seven percent four point eight percent by the end of july to a lower. september the secretion a change unfortunately because of the drought this for like the producer because of produce the world will be weaker than usual and the decrease in prices will be limited and patient will begin will appear in september will be exhilarating faster than one might have expected about a drought now the russian government wants to restructure car tax and raise excise duty on petrol speaking exclusively to r.t. alex a rich man off from the ministry of industry says his department will push for further changes to the tax regime if proposals fail to make people buy more more than and greener cars eve for example

. ♪ bank associate: welcome to the greater offshore bank and trust. bank now, we're offering you $500 just to open an account. customer 1: it's 500 american? bank associate: $500. now we just need your most intimate personal information. if i can get your mother's maiden name. your social security number. bank routing number. bank associate: your atm password. boxers or briefs? customer 2: boxers. bank associate: boxers, could you write that down? ♪ ♪ >>> jerry weintraub is -- >> he's a puncher. >> he is a rare bird. >> he's a lot of things to a lot of different people. >> he's ringling brothers, barnum & bailey. >> tough as nails but has a mushy marshmall ow center. >> he doesn't have a filter. he'll say i woke up this morning and my balls ache. you're like, you know my grandmother? >> he's a force, a force of nature. >> one lucky [ bleep ] [ bleep ]. >> he puts on a really big show. cannot help himself. he can't help it. >> that's a clip from "his way" a documentary about jerry weintraub that's still in production. speaking of still in production, he nev

at about 60 feet below the surface and 1455 stockton street owned by a family trust in san francisco and currently has the bank of america as a lessee. so negotiations are underway with all of the property owners and have been for numerous months. the mta board requested -- is requesting -- did request the board of supervisors for eminent domain on february 26 of this year for the three easements and on able 20 for the two properties. so today we're asking you to hold this public hearing for the acquisition for the five properties and finds that it's in the public interest and necessity, that the project is planned and located in an area most compatible with the most public good and least private injury, that the three easements and properties sought to be required is the best for the project and with that, john and i are happy to answer any questions. president chiu: colleagues, any questions for the representatives from the mta? supervisor david campos. supervisor campos: thank you. thank you to the mta for the presentation. let me begin by noting that i am supportive of this project. i look forward to the h

three more banks are due to report earnings tomorrow-- wells fargo, morgan stanley and northern trust. it was a mixed performance for these three. healthcare was the leading losing sector, with johnson & johnson as the second biggest percentage decliner of the dow industrials. profits came in as expected, but the disappointment was a cut to its yearly profit prediction, thanks to its recall of several over the counter medicines. the cost of the recall hurt shares, dropping more than 1.5% on stronger than usual volume. the stock is just $1 above its 52-week low hit in june. pfizer was the third worst performing dow component, falling after suspending experiments with a drug to treat back pain and nerve damage caused by diabetes. the f.d.a. asked for the suspension. the drug will still be tested for treating cancer pain. more evidence of the strength of the consumer in the past quarter, from soft drinks and snacks to motorcycles. pepsi earnings beat the street by a penny, helped by its purchase of its two biggest bottlers. harley-davidson's results blasted through predictions, with its

report on ninety six banks in years on and things that number of large institutions will not pass trust us and. president. negative pressure on stock markets tomorrow i wish now forget about spain or finance and. deal with this friday and next friday and over all its thirty two billion euros. that spain just don't have. the. spain will have to ask. european bailout was able to untar market with significant amount of money. now russian book make a bet lee has signed a contract with the country's football premier league to start taking bets that stadium before a match accompli will invest up to five million dollars in the project and expects the first return in three years the difficulty never has more. one two way driessen money while it is sports event but tired of the track now you can risk your sure down at the football stanny a masterpiece prepared to kick off their one surefire win now will be the football association and its deal with the back league it will receive half of all the earnings to made by the bookmakers inside the stadium and the money will be put towards the developme

a libertarian economist suggested simply taking a trust- busting approach to the largest banks and breakingguettes, the more tightly it is constrained on its leverage. -- the larger a bank gets. this allows small banks to use leverage to grow and take risks and if they fail, it will not bring down the financial system. if they fail, it puts hard caps on the largest banks. and none of those approaches are represented by this bill. this bill is read it -- this bill leaves leverage requirements to the regulators. that situation existed before and was allowed the large investment banks to convince the fdic to let them operate under leverage requirements of 25 to 1. one or two decades from now after memories of the crisis have faded, the banks will come back to regulators and say we are big boys and we know what we are doing and it's ok to let us operate with these big leverage ratios. a lot of the time the regulators will be convinced because either they want jobs on wall street or if they are understaffed, they don't have the capability to keep up with the investment banks. this legislation re

what happens in the fall of 2008 was the big banks and big wall street people lost faith. they said we do not trust anyone, and they stopped making loans to each other, and that is why the economy collapsed. it is a system that is very sophisticated, but it depends on a lot of things, kind of like the debit card swipe. when it is working right, that is the way it should be. it should be like a water company, you should not have to worry about it. host: steve verdier, thank you for joining us this morning. that is all for "washington journal" today. next, the ada looking ahead. it is a 20 year anniversary today. see you tomorrow. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> a live picture from capitol hill. the 20 anniversary of the americans with disability act is the topic of a gathering this morning. senator tom harkin is responsible for introducing the legislation 20 years ago. the senate passed a resolution recognizing the anniversary. the house is expected to bring up a similar bill sometime today. senator harkin not in the

europe after regulators scaled back from banking controls a funny critic of moscow markets the high and often new trade. ahead by more than one percent the trust telecom is also outperforming gaining more than five percent. so the star has taken a controlling stake in kind of his crew gold corp it previously held a forty percent versus. mining giant bought the shares only also stock exchange is gaining more than three and a half a cent on my six they sell. russia's biggest oil producer ross after boosted second quarter profits by sixty percent helped by high oil output and prices its net income jumped more than two and a half billion dollars bucks crude production gained eight point eight percent after the launch of two new oil fields just one of them the fine cofield escaped by the equivalent descent of russia's top. russian billionaire oleg that of pascoe is in talks to buy discount carrier sky express according to com the sun newspaper the daily says the airline is now negotiated with that a pass because basic element holding company basic element of may much scott express with its own that company lines based in southern russia in terms go

trust fund. we're setting aside money in a savings account. i believe that once a mind stretches, it never goes back to its original form. these kids and their parents will bank thin -- think differently about their future. they will now have something that others take for granted. half of latinos and african americans in san francisco do not have access to bank accounts. this is a big deal. it is in the budget. it is something to be proud of. [applause] i could go on and on. you know me. i could go on and on. these numbers are indelible. i live and breathe this for many months. at the end of the day, it comes down to leadership, storage, collaboration, partnership. that is the final point i wanted to make. this was a remarkable collaboration. it was led by the chair of the finance committee. it hurt him politically and i know it. it is so unfair. he did such a good job last year with the budget. he got more bad backs a -- add backs in history than any of the chair. i got him in a little trouble. i should say terrible things about him to elevate his status with the bloggers. i cannot because i would be lying. he did an extraordinary job. that is john avalos.

a libertarian economist suggested simply taking a trust- busting approach to the largest banks and breaking i personally thought was the most interesting was to have a hard caps on leveraged that worked in tiers so that the larger of baguettes, the more tightly it is constrained on its leverage. -- the larger a bank gets. this allows small banks to use leverage to grow and take risks and if they fail, it will not bring down the financial system. if they fail, it puts hard caps on the largest banks. and none of those approaches are represented by this bill. this bill is read it -- this bill leaves leverage requirements to the regulators. that situation existed before and was allowed the lae investment banks to convince the fdic to let them operate under leverage requirements of 25 to 1. one or two decades from now after memories of the crisis have faded, the banks will come back to regulators and say we are big boys and we know what we are doing and it's ok to let us operate with these big leverage ratios. a lot of the time the regulators will be convinced because either they want jobs on wa

dente official system much like the european system of the central banks, such european supervisory authority should directly supervise trust border financial activity in the e. u.. they submitted a legislature proposal to grade three european authorities. these are the banking authority, pension authority, and european market authorities. in addition to them, the european systematic risk to act as an early warning system was in the federal bank. the free democratic party consider these proposals are going in the right direction, however, in the european parliament they don't go far enough. we would prefer a reform in the supervisory party as outlined before, however, the members state the problem only want to limit this new authority to the supervision of rating agencies. the negotiation has been difficult and are still ongoing. with regard to banks, we ask the following. banks must be able to go bankrupt. if they do not constitute a risk. otherwise we have a problem. banks should be prepared for crisis situations with emergency plans which would also enable the quick separation of certain parts of the banks. the system ne

trust of the american people has a very large operation. take a look at how the markets are doing over in europe shares are advancing with torture by any of us gaining sharply in the bankingsector while b.p. has edged journal saying its new c.e.o. at the same time is focusing and has to deal with the developed world. and here most unlucky is also gaining you know the trade yes nearly up one percent leaving the gains are old enough to be off around in two percent respectively so both companies which the russian government proposed selling stakes in. sevastopol is taking a controlling stake in canada's crew gold corp up from forty percent russia's mining junk the shares in the overflow stock exchange the stars gaining more than one point six percent in the my sex this hour. i mean european bank of reconstruction and development is in talks to buy a ten percent stake in the russian r t a stock market is buying the stake from kit finance a bank which was in the early victim of the financial crisis the reality plans to make the purchase of an undisclosed russian state land the state's estimated to be worth eighteen million dollars it says that aims to improve standards in russ

banks in the gulf. you hire local people who are trusted by the community in terms of receiving the claims, sitting with them, helping process the claim, evaluate it, so we've hired a -- bp hired a claims adjustor firm from hammond, louisiana, that has spread out over the gulf, so as we're setting up the infrastructure now, i'm focused primarily, not exclusively, but primarily on local people. i met with the mayor of new orleans a couple of weeks ago, he's great. ken, we're sure you're going to do a great job. we want your headquarters here in new orleans, that's where you should be headquartered and senator landreaux and governor riley and others, governor jindal, all very, very helpful, but all urging hire local, hire local, hire local. >> in your t.a.r.p. role, how did you find the executives when they were pleading for additional compensation, were they effect testify generally or not in their pleas to you? >> i think they were effective. they weren't pleased. i think they were fatherly effective. -- fairly effective. i didn't deal with too many c.e.o.'c.e.o.'s. mostly you dealt with vice-presidents

banks in the gulf. you hire local people who are trusted by the community in terms of receiving the claims, sitting with them, helping process the claim, evaluate it, so we've hired a -- bp hired a claims adjustor firm from hammond, louisiana, that has spread out over the gulf, so as we're setting up the infrastructure now, i'm focused primarily, not exclusively, but primarily on local people. i met with the mayor of new orleans a couple of weeks ago, he's great. ken, we're sure you're going to do a great job. we want your headquarters here in new orleans, that's where you should be headquartered and senator landreaux angovernor riley and others, governor jindal, all very, very helpful, but all urging hire local, hire local, hire local. >> in your t.a.r.p. role, how did you find the exutives when they were pleading for additional compensation, were they effect testify generally or not in their pleas to you? >> i think they were effective. they weren't pleased. i think they were fatherly effective. -- fairly effective. i didn't deal with too many c.e.o.'c.e.o.'s. mostly you dealt with vice-presidents for

trust and confidence in the system. think back, jim, to the great depression. it took this government four years after the great crash of 1929 to put in place basic protections for banks and the securities laws. those reforms laid the foundation for decades of the most impressive record of investment, innovation and growth any major economy had ever seen. we allowed risk to operate in the shadows, the market outgrew these protections and the damage caused by that failure was catastrophic. but what these reform dozen is prevent that from happening again. they'll extend these protections across the economy and make sure banks can't take risk on a scale that they can damage the economy as a whole. >> lehrer: putting all this together now, mr. secretary, after these many months and here we are now. do you understand why there are still millions of americans very angry about what's happened to them as a result of the financial crisis and the economic crisis that has followed and so many of these things have yet to be fixed. >> absolutely. people are still incredibly angry and frustrated that they, who were responsible, careful, were damaged by the actions of people who wer

banks in the gulf. you hire local people who are trusted by the community in terms of receiving claims, sitting with them, helping process a claim, evaluate it. we have hired -- bp hired a claims adjuster firm from hammond, louisiana that is spread out over the gulf. so as we're setting up the infrastructure now, our hope is primarily, not exclusively, but primarily local. i met with the mayor of new orleans a couple weeks ago. he is great. we're sure you're going to do a good job. we want headquarters here in new orleans. and the senator and governors are all very, very helpful, but all urging to hire local. >> in your tarp role, how did you find executives when there were pleading for additional compensation or not to be cut back? were they effective generally or not in there please? >> they were effective. they were not pleased. i did that deal with too many ceo's. some. but he was pretty effective, when i worked with. mostly you dealt with the vice- president, a human-resources be dealt with general counsels. you dealt with consultants. we worked it out. it was difficult. but i think it was fairly co

trust a person like that. host: florida, democratic line. caller: i think that elizabeth warren is an excellent choice. she knows the banking industry, knows what it should be, am i going? host: sorry, mildred, yes. caller: she knows what it is. the bankers do not like her. she can understand a scam when she sees it, which will make a big difference for them. as far as consumer protection, she is excellent. host: fred, independent line, good morning. caller: elizabeth warren should be chosen. i am amazed that the entire country seems to agree about it. host: why do you say that? why are you amazed? caller: republicans, democrats, and independence never agree on anything. that is my experience. i think that we need about 50 of her. i saw her performance in congress. she may be the only one looking out for the american people, it seems to me. host: seattle, washington, john, republican line. we are talking about whether or not elizabeth warren should head the consumer protection agency. caller: i think that she would be good for the american people and she has a nice rack. host: we will go to newport beach, florida. steve, yo

take the money from the banks too big to fail or the financial institutions who have once again put us on the edge of implosion, you are speaking with forked tongues. don't trustave seen this before and i will not be fooled again. [applause] but now, we want to cut taxes. we want government out of our lives. we have this growing debt and deficit. we are all aware of it but do you know something? i'm a free agent of thought and a free free-agent to do whatever all americans should be doing and that is turn the tube off and get into the streets of their communities and began doing many of the things that we have given over to government. government enables us from the cradle two the grave. they tell us we can't survive without them. let me tell you this much. back in 1979 new york city, the economic engine of the world was on the cusp of fiscal implosion. they wanted to declare chapter 11. they went to then-president gerald ford. they said bellsouth. it is e first time ever heard the word bailout and the president had hoots for and said, dropad new york city. [applause] you cut my veins and arteries. i am a new yorker but do you know something? the president was

banks have since paid back their t.a.r.p. government bailout money including jpmorgan and goldman. others include well known names like aig and sun trust who haven't paid it back. citigroup was highlighted according to "the new york times" as the worst offender. two-thirds of its several hundred million in bonus payments, that year, went to just two people. one of them named andrew hall. they no longer work for the company, but he is the only name that we know of the 600 people highlighted in this report. we do not have names. >> so in terms of going forward from here, anything feinberg or the fed can do to make sure this doesn't happen again? >> meredith, that is the key question. the answer is no, which may surprise a lot of people listening. he was obligated to investigate these packages and put his results out. he doesn't have the legal authority to go and say, hey, give us this money back. what is he doing to the banks, he is proposing a break provision so in the future the government would have the right to take the money back. if this ever were to happen again in a financial crisis. now, since the bonus payouts were paid at the

trust fund. we're helping to build up a deposit insurance fund that has of pacific purpose in law, to help protect against deposit failures when banks fail. and to provide insurance for those who find those banks that failed. and yet we have a budget role here, and now we use that word politely, that apparently allows us to spend money in other programs if we increase the amount of money in the deposit insurance program. that kind of gimmick could have been used -- if congress and on the board today -- cannula mao -- imagine the amount of federal spending that congress would have tried to get away with, just increasing the money in the federal deposit insurance fund, and an offsetting it? that is what we're doing with this bill. we need to deal with this properly. the chairman asked is, what is the alternative? the alternative is to offset the spending by cutting spending somewhere else in the budget. bed at $3.80 -- $3.8 trillions in the budget, we should be able to find it if we propose brit -- if we propose to increase in this bill by another $19 billion. >> any other comments? center greg -- senator gregg comedy 11th amendment?

bank he made tens of millions to of loans to risky investors and mobs. then now running for senate, alexi supports higher taxs to fund billions more in spending. alexi, ji newell use, trusthim with your money? >> what has been the intact of two negative ads? >> well, it's very early. it's unclear how many people are going to see these, but i think there's a couple important things to remember, one, this is going to be an ugly, ugly race. if you live in illinois, you're going to see these types of adds than what you will in times of hope and change and let's hold hands kinds of things. the second thing is these ads are starting so early. there was a time-honored rule that you start advertising after the labor day weekend and the fact that both are up right now they understand they need to get out there as quickly as possible. because by the time labor day rolls around, it may be too late but the voters in that upestate don't have the best options in front of them, basically one candidate saying yes, i may have inflated my resume but at least i'm not part of a bank that collapsed and gave money to mob characterize verse strers other candidate that says yeah, well, i may ha

bank he made tens of millions to of loans to risky investors and ms. then now running for senate, alexi supports higher taxs to fund billions more in spending. alexi, ji newell use, trust him with your money? >> what has been the intact of two negative ads? >> well, it's vy early. it's unclear how many people are going toee these, but i think there's a couple important things to remember, one, this is going to be an ugly, ugly race. if you live in illinois, you're going to see these types of adds than what you will in times of hope and change and let's hold hands kinds of things. the second thing is these ads are starting so early. there was a time-honored rule that you start advertising after the labor day weekend and the fact that both are up right now they understand they need to get out there as quickly as possible. because by the time labor day rolls around, it may be too late but the voters in that upestate don't have the best options in frontf them, basically one candidate saying yes, i may have inflated my resume but at least i'm not part of a bank that collapsed and gave money to mob characterize verse strers other candidate that says yeah, well, i may have so

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