>> stephen: unlimited unions and corporate campaign contributions. >> stephen: unlimited unions and corporate contributions who? >> stephen: that's the thing. i don't think i should have to tell you. (laughter) of course, there will be others who say stephen colbert, what will you do with that unrestricted superpac money. to which i say, i don't know. give it to me and let's find out. since i don't know about you, but i do not accept limits on my free speech. (cheers and applause) i don't know about you, but i do not accept the status quo. (cheers and applause) but i do accept visa, mastercard and american express. (laughter) thank you. god bless america. and for eight yets out there, guess under height, the united states of america, we did it. >> i am a superpac and so can you! >> then like washington crossing the delaware to ask it for money, i waded into the crowd with a credit card swiper attached to my ipad. >> that's it. thank you. just throw it out, ball it up and throw it at me. thank you. folks, i want to thank all those people who swiped their cards in the right slot today. and for

>> unlimited union and corporate campaign contributions. >> unlimited union and corporate campaign contributionsthing. i don't think i should have to tell you. >> for me, let me bring in ryan riley who has been reporting on this story for talking points memo. why is colbert doing this, ryan? >> evening it's part of an elaborate ruse on the commission to poke fun on some of the lack campaign finance regulations that have come up and sort of been an issue in recent months. it's something that a lot of -- you know, some of the good government groups are very concerned about. the implications this decision could have for other politicians. you have a number of politicians who have pacs and they also have their own programming on fox news. you have sarah palin, karl rove who's constantly talking about their superpac on his program. >> what does this tell us about campaign finance law in a post citizens united world? >> well, i think there's a lot of good questions that sort of come up because of citizens united. the fec has come under criticism because a lot of people don't think it's enforcing to a

a super pac, he says, can accept unlimited money from corporations or unions but cannot contribute toc candidates. >> knock, knock -- >> who's there? >> unlimited union and corporate campaign contributions. >> reporter: so what's colbert going to do with the super pac? he's not given details about the content or when ads will air. he does joke that he's going to use money to determine the winner of the 2012 elections, wolf. whatever he comes up with is going to be hilarious. >> whatever he does is very, very, funny. thank you very much. >>> jeanne moos is next with a police blunder. one log in lets you monitor all of your balances and transfer between accounts, so your money can move as fast as you do. check out your portfolio, track the market with live updates. and execute trades anywhere and anytime the inspiration hits you. even deposit checks right from your phone. just take a picture, hit deposit and you're done. open an account today and put schwab mobile to work for you. [ male announcer ] want to pump up your gas mileage? come to meineke for our free fuel-efficiency check and

>> unlimited union and corporate campaign contributions. that's the thing. i don't think i should have to tell you. >> ahead of the ruling, some advocacy groups like democracy 21, campaign legal center, they urged the fec to not allow this definition, this technical definition of it not being a contribution. i'm not sure exactly what there is to fear there. they mentioned that sarah palin has a pac. mike huckabee has a pac. the question is what happens when they mention it on fox news. fox news can just say, you can't discuss your pac. >> actually, colbert was pushing for broader press freedoms if you will. he wanted to be able to use staffing from his show to create advertisements. he wanted to be able to run his advertisements for his pac on other shows. democracy 21 took a firm stand against it because it sets a questionable precedent. you know, as far as fox news, what this points to is a broader, and i think more disconcerting trend, in terms of money, media, and influence. and you look at fox news. and again, this is a channel that -- let's remind our

ruling, which allowed the creation of super pacs, political action committees that can take unlimited corporate and union cash to create political ads. months ago i announced my plans to set up colbert super pac. our motto: making a better tomorrow, tomorrow. [laughter] in fact, when you google the phrase super pac, i'm the first five results. [cheers and applause] that breaks my previous record of the first four results from googling the phrase "pear-shaped pundit." [laughter] since i brought them to the nation's attention in april, 17 new super pacs have been created, including "turn right usa." who have released some great ads. including one that makes some salient points about congressional candidate janice hahn. >> in an insane effort to reduce gang violence, janice hahn hired hardcore gang members with taxpayer money to be gang intervention specialists. she even helped them get out of jail so they could rape and kill again. ♪ >> give me your cash, bitch, so we can shoot up the street. give me your cash, bitch, so we can buy some more heat. give me your cash, ho, so we can get out the-- give me your

that is the citizens united ruling which opens the door for unlimited union and corporate contributions. in ways, what really makes this different is the proliferation of organizations which we cannot see into. we cannot see their books. these are the so-called are title one 2-4's. we just at the close of the second quarter a all the figures are not in from some candidates. some are waiting until their paperwork is due in two weeks by the federal elections commission. the third quarter closed or rather the second quarter closed on a thursday. some people have commented that there is not as much money flowing into these campaigns as there was at this time four years ago. i think that may be true, but we really don't know. some of these donors could be giving amounts that we don't know who they are, we don't know how much they're giving. there are these entities that are accepting contributions anonymously and they will be -- we have already had one of them, called crossroads, a republican- oriented group, and there's been a democratic-oriented group. we don't have any way of really track

>> unlimited union and corporate campaign contributions. [ inaudible ] >> that's the thing. don't think i should have to tell you. >> patrick, what's colbert doing up there? ha's the point he's trying to make? >> criticizing the americans, they are allowing unlimited corporate contributions. he said fcc ruled he could form his own superpack and talk about it and promote it on his show. his point was to address weather or not his corporate company, viacom would have to view it as an unkind expenditure. fcc said they would not. it's not seen as a watershed moment. there was a lot of fear the fcc would say any corporate company can use their news media outlets and not have to disclose. >> it is obviously very into the weak stuff. what are you doing this weekend with your cats? >> laying low. staying here in washington, d.c. no road trips. >> he's got three cats. >> have you been to the cat rodeo before? >> i have not been to the cat rodeo. >> you should. tyson's corner has the best cat rodeo. fourth of july, 2:00 p.m. >> right outside. >> i have no way of getting through this w

that is the citizens united ruling which opens the door for unlimited union and corporate contributionsin ways, what really makes this different is the proliferation of organizations which we cannot see into. we cannot see their books. these are the so-called are title one 2-4's. we just at the close of the second quarter and all the figures are not in from some candidates. some are waiting until their paperwork is due in two weeks by the federal elections commission. the third quarter closed or rather the second quarter closed on a thursday. some people have commented that there is not as much money flowing into these campaigns as there was at this time four years ago. i think that may be true, but we really don't know. some of these donors could be giving amounts that we don't know who they are, we don't know how much they're giving. there are these entities that are accepting contributions anonymously and they will be -- we have already had one of them, called crossroads, a republican- oriented group, and there's been a democratic-oriented group. we don't have any way of really track

super pact are a result of last year's ruling that corporation and unions can donate unlimited funds for election campaigns. >>> all right, folks. if you are heading around the bay area, as we get ready for the 4th of july weekend, we have a lot of sunshine coming our way today. already clear in many spots inside the bay and the valleys. just a hend of patchy fog at the coastline. by the afternoon, we are looking fantastic. here comes that sunshine. we are going to crank up the numbers. 80s and 90s inland so getting hot in spots. plenty of 70s inside the bay, 60s at the coast. we are going up from here as high pressure will continue to build in. it looks like these temperatures are going to be near triple digits, maybe just over that throughout the weekend. you get the idea, we are clearing outer skies now. high pressure building in, offshore winds kicking in so a much warmer weekend is in store for this holiday weekend with plenty of sunshine all the way to the coast. today, 92 in morgan hill. 84 in santa clara. 80 in san mateo. about 63 degrees in daly city. about 66 in half moon b

it's the type of political action committee that can receive unlimited funds from corporations, unionsand individuals to spend on outside groups to campaign for or against candidates or interests. mind the number. campaign finance term, right? not when stephen colbert gets his own. >> i don't know about you, but i do not accept limits on my free speech. [ cheers and applause ] >> i don't know about you, but i do not accept the status quo. [ cheers and applause ] >> but i do accept visa, mastercard and american express. >> all right. here are three things to put on your radar today, former imf chief, dominique strauss-kahn, goes before a judge today to try to get his bail reduced. prosecutors say they've discovered credibility issues, serious ones, with the woman who accused him of sexual assault. the hearing is at 11:30 a.m. eastern this morning. the. >>> georgia immigration law targeting illegal immigrants goes into effect today. one part of the law says people using fake i.d. to get a job in georgia could face up to 15 years in prison. >>> leon panetta takes over as u.s. defense secr

super pacs are a result of last year's ruling that corporations and unions can donate unlimited fundsction campaigns. >>> today is the first day of the nba lockout. a collective bargaining agreement between players and team owners expired at midnight. the main sticking point is a request by players for an average salary of $7 million a year up from the current $5 million. they are far apart on salaries to revenue sharing. negotiations are expected to resume over the next few weeks. >>> the los angeles dodgers have to issue new paychecks for their employees, who say their checks bounced. an executive with the baseball club explains that the team's assets were frozen earlier this week between the time that it filed for chapter 11 on monday and a bankruptcy hearing on tuesday. the team also plans to reimburse workers for any bank fees that were caused by the confusion. >>> in the meantime, it is a touchdown for the san francisco 49ers. the 49ers say they have already sold dozens of luxury boxes even though construction in santa clara has yet to begin. the team says it has sold a total of

the decision stems from last year's supreme court ruling that allows unlimited campaign contributions from corporations and unions, although those funds cannot go to specific candidates. >> that would be interesting. >> it would be funny, liven up the debates. can you imagine? mr. colbert? >>> 5:21 now. >>> today hundreds of thousands will be in ottawa trying to catch a glimpse of prince william and his new wife catherine. >> they are there helping to celebrate canada day on what would have been the 50th birthday of the prince's mother diana. last night the duke and duchess of cambridge charmed some young fans at a reception. and in just a few hours from now, they will ride in a parade for canada's birthday celebrations. and that includes a 21-gun salute and a military flyover. >> 5:21 now. it's your chance to see the bay area from new heights. the thrilling attraction making a big comeback. >> and it is a bright light in a neighborhood that needs it most. how a bay area community came together to give kids a dream place to play. ,, ,,,,,,,, i tell ya, i work a long day, every day. i hang my head out the window.

. >> ifill: aside from unions who have been raising mostly for democratic candidates. >> and you can raise from corporations, unlimited now after citizens united. >> ifill: and these other outside groups, i'm very curious about whether they are now splitting their support among all these republicans who are running now, there's so many in the race or is all the outside democratic groups going to one guy? >> that's a great question because that's part of his advantage. the president doesn't have a primary so all this money he has raised and put out there, this is all to build an infrastructure and organization and prepare to defend against attacks in this next year before he's in a one-on-one race with somebody. on the republican side right now those outside groups are spending their money attacking the president. right? they will get behind the republican nominee, which is why no matter how much big fund-raising win this corporate quarter is for the president the republican nominee, nor president obama, is not going to win or lose this election based on how much money they have. >> ifill: david chalian, as always, tha

unlimited access to each other's highways. this provision was originally part of the nafta agreement, signed back in 1994, but both countries argued for years over safety and financial issues. and there's still opposition. the teamsters union says the deal is probably illegal and opens the border to dangerous trucks. >> susie: in the "money file," making your good credit score work harder for you. here's donna rosato, senior writer at "money magazine." >> got a good credit score? you do if you've got a score of 740 or higher. just one third of americans are members of that elite club. if you're one, you already know that a good credit rating will nab you the lowest rates on a home or auto loan. but it also gets you access to some pretty good deals elsewhere too. credit cards have notoriously high rates, averaging more than 14%. but many credit card issuers seek out top credit score holders by offering significantly lower rates and lucrative cash-back deals. having a high credit score will also give you more leverage negotiating a car purchase. car dealers make the most on financing. dealers are typically locked into preset rates, but if you say you can get a better loan deal elsewhere, you may be able to knock a few hundre

union admitting costs of the new rule could be passed on to consumers. >>> also, verizon, starting this week, the wireless provider dumping unlimited usage for data, using more data will now be costing you more money. >>> and netflix going south of the border and beyond, announcing it will be streaming movies and shows to 43 countries in latin america and the caribbean. net flex expanded into canada last year. that's business, i'm liz mcdonald. [ female announcer ] welcome to busch gardens williamsburg, where d.c. goes to get away. maybe it's because washington d.c. loves the legendary coasters. or that your entire family will have fun, even the little ones. it could be that water country usa has more of the waves, slides and rides everyone wants. you never know who you'll run into. so plan your getaway get started at buschgardens.com/dc. >> a british tabloid is accused of hacking into the phone of a teenage murder victim. they hired a private investigator to break into her phone back in 2002 while she was missing. the attorney claims the investigator listened to the messages, even deleted some of them, and that gave police and the family false hope tha