produce and i'm losing five cents on every down it is not a good business to be in no ok so the u.s. fed in the bank of japan and the bank of england their currencies are collapsing their economies are collapsing because you know there are all these are normal absent japan has been in some form of quantitative easing for basically twenty years now and the yen is at all time highs what do you explain that or what do you rectify that with your view of how the economy works because they blew through huge multi-trillion dollar savings account they're now net importers of capital and they weren't exports of capital and along with all the don't feel currencies are heading into the into the gutter and this is obviously this is over as discounting this transition away from these overly indebted economies let me ask you a question what percentage of income in the u.s. is applied toward service saying america's debt i don't know the number but it's actually a low as we haven't seen twenty years ago it's called positive doesn't it if you don't know the number because you don't want to know the numb

u.s. economic recovery is on "firmer footing" and conditions in the job market are beginning to improve. the fed made no mention of the events unfolding in japan, but confirmed its commitment to its $600 billion program to buy u.s. government bonds. we'll talk more about the fed with economist diane swonk and market strategist mike holland in just a moment. the u.s. slapped more sanctions on libya's government as moammar qaddafi continued his crackdown on the opposition. the treasury has frozen assets linked to libya's foreign minister. it also banned business with 16 companies the libyan government owns or controls. and goldman sachs considered buying troubled insurer a.i.g. three years ago, according to wire tapped phone conversations. that audio tape was played for jurors today in the largest hedge fund insider trading case. raj rajaratnam, the accused founder of the galleon group hedge fund, was heard getting the scoop on possible purchases by goldman. his conversation was with a former goldman sachs director. now, rajaratnam denies any wrongdoing. he's charged with 14 counts of conspiracy a

u.s. history. the feds say galleon group's raj rajaratnam conspired with a former goldman sachs director for inside tips on the bank. prosecutors plan to play audio- tapes of conversations between the two men. they may also call goldman c.e.o. lloyd blankfein to testify. rajaratnam is accused of illegal trading and conspiring to get inside information on other companies including google, intel and ebay. he's alleged to have made $45- million in profits from that data. >> tom: here's what we're watching for next week: our friday "market monitor" guest is jack ablin, chief investment officer at harris private bank. we'll also see retail sales for february and the january reports on wholesale trade and business inventories. monday, beyond the scoreboard looks at the economic impact of the n.f.l.. does having a home team help or hurt a city? >> susie: cbs is buying online video watching guide clicker.com. the move will help cbs marry its tv content with its online properties. terms were not disclosed. clicker h

u.s. and for that reason, i think you'll see different reactions from the e.c.b. and the fed right now. >> reporter: of course, higher european rates won't just affect that region. some analysts worry it could hurt global growth, reducing profits at big multinational firms. >> higher interest rates in europe probably will weaken the european economy and our exports to europe. europe has not been the motor for u.s. exports, but i think more generally, when you look around the world, as central banks increasingly put on the brakes, that may slow the pace at which exports grow from the u.s. >> reporter: if you're worried interest rates might start rising here, relax. it's likely to be a while. most economists don't think the fed will hike rates until the labor market is solid footing, and that's not expected until at least next year. erika miller, "nightly business report," new york. >> tom: here are the stories in tonight's "n.b.r. newswheel:" a pickup in activity at the nation's factories last month-- the institute for supply management's manufacturing index hit its highest le

newswheel: stocks rose on the libyan cease fire and a move by the fed to loosen its grip on the biggest u.s. banks. darren gersh will have more about the fed and banks in a moment. the dow rose almost 84 points, the nasdaq added seven and the s&p 500 was up five. as for trading volume, almost two billion shares moved on the big board over 2.5 billion on the nasdaq. an f.d.a. panel says removing menthol cigarettes from the u.s. market would make americans healthier. but the panel did not recommend a ban. menthol flavor attracts younger smokers and makes it harder to quit smoking. and it's popular: about a third of u.s. cigarette sales are menthols. we'll have more on how the decision played out on tobacco stocks in market focus. a wisconsin judge has put on hold a law stripping collective bargaining rights from the state's public workers. the judge wants to review a challenge to the law before it takes effect. still ahead, when it comes to highly skilled jobs, companies say its not easy finding talent. we look at one solution. >> tom: remember bank dividends? they're back. the federal reserv

u.s. dollar diluting the valley if they're worse than the federal reserve bank a lot of people point the fed and they say the federal reserve bank is counterfeiting money they're destroying the value of the dollar and they use all of their banking connections to undermine the authority of the u.s. government all true but much worse is ingo zynga is worse than the federal reserve bank now this story is incredible the big prints are worthless electronic virtual currency this guy hacks into the mainframe as a freedom fighter to stop the financial terrorism then he resell saw some open market for fifty something cash thousand and he sold them on facebook to other people who want to use this for it to raise their personal farms on farmville or fight in the mafia wars which are which these currencies are use now this guy's lawyer said the last is ingo is impossible to quantify because the chips were virtual and the company could create as many as it wants he also said that actually michel had enjoyed little benefits and spent most of the proceeds on online gambling on other sites that use real mon

u.s. markets have managed to recover some of the loss and as the fed delivers after the comments on the u.s. economy flights in the seas remain in the red with japanese woes general electric remains the main loser the second day one of the main losers is down one point three percent the south together with toshiba sixteen percent and the company was one of the main contractors for the reactors. here in russia both the r.t.s. and the my six did join the global selloff on tuesday after the largely ignoring the japanese crisis the previous day overseas lost more than one and all of them were losing ground on the creasing world prices draws near shedding two percent most banking shares were also down. be more than two percent in the red noisemaker was actually stronger one point one percent that's up to russian metal holding the thousand best plans to buy shares in russia's largest nickel mining company. the jump a news story has been drumming good markers during. past couple of days of bus approve the financial turmoil we're seeing in the japanese market yesterday and today with the index tumb

u.s. economy and the fed chairman is about to talk about it.ay right here with us. >>> just an hour ago, the hearings began for pg&e. >>> the top bay area narcotics officer accuse of selling drugs is reportedly facing disturbing new charges -- charges. >>> good morning to you. welcome to "mornings on 2." i'm dave clark. >> it's tuesday march 1st. i'm tori campbell. >>> one hour ago, the ntsb began a three-day hearing in washington, d.c. the federal safety agency is looking into the deadly pipeline explosion and fire in san bruno. we've been monitoring closely the hearings for the past hour. they could reveal critical new information about last estimate's disaster. -- last september's disaster. this ll

u.s. forces landed. >>> he tells the feds what he did not know about the pipeline explosion. we will have that coming up. >>> and we got weather to talk about, light showers out there and more rain on the way. >>> san bruno's fire chief told federal investigators he had no idea that a major pipeline ran through the city until it exploded last september. this was daycare of that disaster, carol haun was there and she is live in washington d.c. with more on what the chief said today. good evening, carol. >> reporter: frank, the chief tells me he was in the dark about the pipeline and takes some of the blame but had he known about it, he tells me he would not have change add single thing about the emergency response. >> we did not know that there was a transmission line through the city. >> reporter: san bruno's fire chief told ntsb investigators that prior to last september's explosion, pg and e had no tip os how to deal with the pipe lines. he knew of two others running behind highway 101 because someone told him. when asked about the pipeline knowing might have helped ... >>

u.s. supreme court refused to hear their case. the fed says it will release the information, but won't say when. >> susie: oil prices climbed today after a weekend of violence in libya. in new york trading, may futures gained $1.24 to close just over $103 a barrel. now traders are growing more concerned about political instability in north africa and the middle east, in countries producing more than quarter of the world's oil. suzanne pratt takes a look at what the unrest could mean for oil prices. >> reporter: most energy experts say there's only one direction for oil prices in the foreseeable future-- you guessed it, "up." that's because much of libya's daily 1.6 million barrels of oil is likely to be off the market. opec producers like saudi arabia and kuwait are already making up some of the shortfall. but, there are concerns about supply hits in other countries as the push for democracy spreads in the middle east. oil trader ray carbonne says unstoppable unrest is a huge fear factor in the market. >> i'm a little bit pessimistic as t

fed. >> so they are a u.s. government employee? >> yes. what is left after the it recent financial crisis that has not been corrected? >> the regulations associated and specifics of how various instruments will be treated and regulated is under negotiations. the treatment of how bankruptcy proceedings will affect the rights of creditors is still up in the air. there are many areas of dodd- frank that were left for further review that have not happen. we have two-thirds of the biggest hedge funds here in the new york area. they are all wondering how are these systemic risk definitions going to affect them? there is a whole range of uncertainty about what the rollout of the regulations will do. that has had a role in retarding investment and job creation. you have many financial people standing on the side. there was a discussion in the last couple of months about banks and their capitalization requirements. if you did not have 20% down to buy a home the banks will have to treat you as higher risk capital. having worked much of my career to

u.s. food. radiation has been detected in milk samples in washington state but the feds say it is 5,000 times belowfood and drug administration's risk level. >>> it is 5:21. this morning, the u.s. navy is investigating an accident that injured 10 sailors during a training exercise off the southern california coast. they were hurt when the engine of a fighter jet exploded on the flight deck of the uss john c. stennis yesterday afternoon. right now four of the sailors are in stable condition at the naval medical center in san diego. the other six were all treated on board the carrier for burns. >>> today is the day the giants home opener happens. a player was hospitalized after a late-night car crash, coming up. >>> from the terminator to "governator." now superhero. arnold schwarzenegger's next role since leaving sacramento. ,,,,,,,,,,,,,, i'm good about washing my face. but sometimes i wonder... what's left behind? [ female announcer ] introducing purifying facial cleanser from neutrogena® naturals. developed with dermatologists... it's clinically proven to remove 99% of dirt and toxins and purify

the fed kept crisis measures in place to have a clearer u.s. economy. the euro is trading at 1.3993 u.s. dollars. european union finance ministers agreed on a set of tougher budget rules aim to shore up market confidence and help end the sovereign debt crisis. th new rules include tighter monitoring of debt and deficit levels. one of the main point sharpening the budget rules is to make sanctions for offenders more automatic. the package still needs to be approved by the european parliament. that's it for business. back to you for more news. >> foreign ministers of the group of eight countries meeting in paris have failed to agree on imposing a no-fly zone over libya. france and britain have pushed hard for intervention but four ministers will send the matter to europe -- to the un security council. in libya, rebels have fled one town after it was a salted by forces loyal to gaddafi. >> with their interior fire power, had little chance to fend off the troops. reportedly with the aid of fire jet -- fighter jets and combat helicopters, the rebels had no o

u.s. g.d.p. growth that will slow the economy down but it's not going to raise inflation as the fed sees it as they don't count energy as inflation so that will cause them to reliquefy the markets even more to try to keep the u.s. out of recession and that will again ignite food inflation around the world and add more fuel to this fire william i didn't think you and andrew are going to agree so much do you want to elaborate because you've talked a lot about this in the past on crosstalk. well first of all the link that michael mentioned between food and energy since two thousand and seven we've had a an insidious link through the subsidization by the bush administration and now the obama administration the european union now this madness called biofuels because that takes grain acreage out of production for corn forty percent of the american corn crop is now burned as a fuel alternative more c o two and more toxic if you want to measure c o two then even normal gasoline but it has a beautiful effect in terms of the grain cartel companies bond the a.t.m. and cargo and so forth to boost the grain pri

u.s. and new fears about europe's debt crisis fed the sell-off. the dow jones industrial average lost 228 points to close at 11,984-- its biggest drop since last august. the nasdaq fell 50 points to close at 2,701. forces loyal to libyan leader moammar qaddafi blasted a key oil port with tanks and warplanes today and claimed they'd recaptured it. the target was the city of ras lanouf, which rebel fighters had seized a week ago. we have a report from lindsey hilsum of "independent television news." >> reporter: the skies were clear for colonel qaddafi's fighter jets today. the bombs fall percely close to the oil refinery. earlier, one landed within the perimeter fence. we drive past. it's a storage-- if the storage tanks of oil and gas were hit, the areas for miles around would be devastated. we stop, and another falls. that's the second bomb we've seen falling in the last half hour. the fighting is heavy. i can hear the thud of artillery it seems colonel qaddafi's force are determined. maybe what they want is the oil refinery. we were on sand dune

over that same time period, the fed increased its holdings of u.s. treasury securities by $337 trillion. the fed alone is responsible for financing almost 20% of the massive increase in government spending. how has the lack, mr. chairman, of fiscal discipline, complicated the fed's conduct in monetary policy? and when the fed ends its large-scale purchases of treasury debt, what impact will it have on the ability of the treasury to finance that debt? >> well, the intent of the program first was to hold down interest rates, relative to where they otherwise would be. >> has that worked >> that seems to be working, yes. >> a lot of people dispute that. but go ahead. >> well, as i noteded in my testimony, interest rates have gone up. the same thing happened in 2009 after our previous policy because interest rates depend on future expectation of growth, as well as on policy actions. with that being said, we certainly want to be sure to remove that stimulus the at the appropriate time. so at least as concerned a you, senator, about inflation, we want to mak

feds. they sent a letter to the u.s.e and hazardous materials safety administration saying, quote, we urge you to address this order immediately under your existing emergency authority to protect public safety. that's a quote from dianne feinstein. we talked a lot about pg&e's dealings with the public utilities commission. that is a state agency. and our local, state representatives have been pressuring them to crack down on some of these pg&e practices but this is a major move we are seeing on the federal side. >> thank you, anne makovec in san bruno. >>> it is 5:39. a federal judge ruled prosecutors cannot use 11 voicemail messages against barry bonds in his perjury trial. the allegedly threatening voicemail messages were left for his mistress. prosecutors hoped the intensity of the messages showed bonds was suffering from riod rage but the judge said the messages were marginal at best. prosecutors argued bonds lied when he said he never knowingly received steroids or any injections from his trainer. >>> in contra cost

u.s. government is lies and lies and lies just like we are fed before the iraq war telling the truth is not a crime telling the truth is heroic the criminals are the ones in the white house and the pentagon criminals are the ones in the white house in the pentagon reaction why would we would put a hold of sort of issues. look whether or not we can win a record of being a stand is not the point the point is a private in the army is not. charged with releasing that information there's been in the damage goes well beyond just what he released about iraq and afghanistan i keep going back to the damaging information he released on the problem the king of yemen who's been working with us and one of the most damaging cable was you keep killing al qaeda and i'll keep taking credit for it because of course in the muslim world everything has to have a. face on it and he's been taking credit for us killing al qaeda in yemen and now he's been outed he's going to be a target of al qaeda he's going to be a target of terrorist organizations muslim brotherhood throughout the middle east because of this idi

crude oil that is the last thing americans need right now and just today fed chief ben bernanke he testified in front of the u.s. congress he told lawmakers that a prolonged rise in oil prices what impact was a danger to the u.s. economy but he didn't think that increase with last too long according to him the situation will not get out of control over more investigative journalist greg palast is talking to us from long island new york good to see is celebrating he seems to be sort of downplaying the current situation saying that these are just temporary increases the situation won't spin out of control do you do you agree with that assessment. that you know seventy. or a barrel oil as a low price it's like it's that old joke about you know someone keeps punching you in the face they say well we're now going to start slapping your face and say thank you very much you know i. yes i don't there's no question hundred dollar bill oil is is suspicious actually because we really haven't had much of a drop in production worldwide very little oil is sold on the stock market i don't see a justification for these rising

u.s. authorities to lay their hands on that information if they wanted they said when the fed says is used by the government grants to local councils and recognize new groups in society the census is run by looking martin raises grave concerns investing about ethics and international security if a lot of people boycott that says it will make it ineffective and a waste of money for the two hundred forty million dollars contracts amounts will go into looking at martins pocket anyway your emmett's r.t. . still to come here is one vote that's got the attention of russia's prime minister. some moscow women picked the pm for their ladies' day party theme we have all the highlights coming up in just a bit. now for a look at some other major headlines from around the world is that once again spewing from one of the world's most active volcanoes mt caraway and why fired and fired molten lava ninety meters into the air on sunday scientists say the eruption was spotted shortly after the floor of the crater collapsed no homes are under threat to the area and the volcano has been in constant eruption s

the fed kept crisis measures in place to have a clearer u.s. economy. the euro is trading at 1.3993 u.s. dollars. european union finance ministers agreed on a set of tougher budget rules aim to shore up market confidence and help end the sovereign debt crisis. the new rules include tighter monitoring of debt and deficit levels. one of the main point sharpening the budget rules is to make sanctions for offenders more automatic. the package still needs to be approved by the european parliament. that's it for business. back to you for more news. >> foreign ministers of the group of eight countries meeting in paris have failed to agree on imposing a no-fly zone over libya. france and britain have pushed hard for intervention but four ministers will send the matter to europe -- to the un security council. in libya, rebels have fled one town after it was a salted by forces loyal to gaddafi. >> with their interior fire power, had little chance to fend off the troops. reportedly with the aid of fire jet -- fighter jets and combat helicopters, the rebels had no

everybody is you know q e z has been a very high profile program where the fed has been clearing all of this money out of the market buying u.s. bonds eyeing up u.s. treasuries so what it's essentially been doing is propping up that market six hundred billion dollars this time the first one right before that one point five trillion dollars so trillions of dollars that have been boosting up this market and bill gross his assertion is that when that money is gone there may not be the private investment to replace it and that this market could totally tank that bonds could taint and that's the argument that he's making and pretty strong words this time but he has been down on bonds and how to bearish outlook for quite some time he's just using some pretty severe language in this latest now is there any chance that the federal reserve isn't going to go along with their schedule that on june thirtieth they aren't going to cut this program or that perhaps they might even i don't know announce a q e three. well that's a great question you know there haven't been a lot of reports that the fed bloat and its buyback program on june thi

u.s. policy and where legal standards fed. with that, i will turn it over to our students, rashmie chopra and anil. they will be presented for the clinic. >> i would like to think the american society of international law, the bread society, and the international humanitarian law group. the scholarly debate that has significant indications for the u.s. department in a clarification of the legal basis of targeting using drone technology. last year, they spoke about the role of international law with reference to a number of context including a number of instances. as with formulated research, we recognize that before we could focus on what is stated that it was important to look at the relevance of international law and respecting the rule of law. we recognize the importance of law. by imposing such constraints this legitimists the remarks. the president spoke about adhering to international standards and isolating those who did not. as i now turn to look at what the legal advisers said using drone technology, it is important t

u.s. food, a low level of radiation has been detected in milk samples in washington state but the feds say it is 5,000 times below the food and drug administration's risk level. >>> it is 4:33. we're following a developing story from newark, where police have been searching overnight for an at risk missing teenager. 14-year-old kenneth stephen son usually goes by the name of kenny. he is diagnosed with a form of autism. he got into an argument with his mother. he doesn't have a history running away. he was seen last night in the area of pioneer school. >>> more surveillance video of san francisco has led to another criminal case being dismissed. anne makovec is in san francisco with more on that story. good morning. >> reporter: good morning. we are waiting for the police chief here in san francisco to speak out about this case. we have heard that he is expected to do so this morning. but this video that you mentioned, one of several pieces of video we have seen be released recently by a prominent local defense attorney. here is that video. a san francisco judge tossed out a felony drug ca

u.s. has approved the first deep water drilling permit in the gulf of mexico since last year's massive oil spill. today, fedef ben bernanke delivers his twice a year ç economic report to congress. also today treasury secretary timothy geithner will tell a house committee the administration wants congress to overhaul fannie mae and freddie mac, the nation's troubled housing finance giant. finally, heidi," germany's cross-eyed celebrity possum came up one pig short of perfectly predicting the oscars in 127 hours to win best picture. pretty impressive, heidi. i love that. >>> coming up, nba drama. top ten college hoop battles, and a player giving up millions so he doesn't have to play for one team. >>> plus. the nets try to block out the sun in new jersey. your early morning sports headlines are straight ahead. >>> so much for in like a lion and out like a lamb. give that lion a pair of sunglasses. your tuesday forecast is coming up. you're watching "early today." >>> good morning. if you're just waking up, this is "early today." in sports, it's common to hear folks complain about professional athletes and th

u.s. economy continues toex pand gradually while some manufacturers and retailers are starting to pass on higher crude oil prices to customers. >>> on wednesday the fed released the so-called beige book report. that's a survey of economic conditions in the 12 districts across the country. the document says overall economic activity continued to expand at a modest to moderate pace in january and early february. it says most districts reported continued rises in corporate production and con sumtder spending. meanwhile, the report notes that manufacturers and retailers have passed on higher costs of crude oil and raw materials to clients and or are planning to do so in the near future. this trend will likely continue if commodity prices keep rising. >>> now, apple chief executive steve jobs returned from medical leave for a day to unveil a new lighter ipad tablet computer equipped with two cameras. >> thanks for coming. thank you. it's really thin. and it comes in two colors. >> jobs made his first public appearance in about five months in san francisco on wednesday. the second generation ipad is more portable than the older version. while it has the sa

they're bad that's what the west has been spoon fed this narrative that disk that is financed the military industrial complex financed the terror industry that the u.s. supply stock you know financed the the tear gas canisters that people found in the streets and cairo now talk to me a little bit about the role that wiki leaks and social media played in the revolution it seems clear that wiki leaks was this. part in tunisia and that's the spark that drove this entire revolution across the region yes or no i think you would you can't underestimate the influence of what some of those wiki leaks disclosures meant for people to wear innocent tunisia but i want to i think we need be careful overstating the impact of both wiki leaks and of social networking sites absolutely to play a role in organizing and help bring people together and spreading the word about the protests of the demands of these protests of mate but we're really seeing in tunisia but i think more spectacularly in egypt is the fruition of years of organizing that's gone on course it's being led by youthful protesters it's a generational change a demographic shift that we're seeing in ara