black rock, fidelity, vanguard. everybody's in money funds. peter, let me ask you this, the reserve primary fund that broke the bank that a minute they had to default because the holdings in commercial paper went down. this was the key point of the whole financial meltdown. i don't know how much they lost, i don't know if you know, how do we avoid another calamity like that, peter? >> essentially, we have to insure the deposits. when they broke the buck, there was a run on these and the treasury had to step in with fdic insurance. they don't have a reserve the way banks do so understood cut the banks. if they will take money and deposits the way bank, do subject them to the same reserve requirements, level playing field, will lower the return, but won't snuff them out and still be a vital important point of the commercial paper market. >> tony, i want to ask -- if you don't mind me calling you tony. >> sure. >> it's pretty good these guys don't have to go to market to market. the whole business about net asset value, peter called breaking the

the vanguard newsper reports that some nigerian government teficials are insulted, that theyere not given n security bi fer h and they s accused the embassy bing being too secretive about clinton's itinerary. >>> ahead of next week's presidential elections, stepping up security. the marines continue meeting resistance from the taliban. about 500 u.s. and afghan troops exchanged heavy fire with insurgents near a town that has been under taliban control for years now. the marines are fighting to gain control of the strategic area but also hope to cut taliban supply lines. additional marine units are meeting heavy fire as they try to be rouz the taliban from surrounding pointtance. a news photographer embedded with the marines shot video of this particular battle. >>> amateur photographer in london happened to be on the scene of a jewelry heist last week. he was just shooting a basic street scene in london's upscale may fair district last thursday when all this started happening. two robbers came out of a jewelry store dragging a hostage. blond store clerk in a white coat which you might be

stood witness, with the senator's wife vicki and his only surviving sibling, sister jean, in the vanguard. as they made their car to cars for the drive, niece caroline kennedy lightly touched the hurs. the drive is about 70 miles. along the highway, which was closed down for the motorcade, crowds gathered with signs saluting the senator. among them, firemen, lined up on a bridge in north quincy. once in boston, the motorcade made its way past buildings significant from kennedy's past. st. stephens church, where kennedy's mother rose was baptized, and where the senator eulogized his mother when she died at age 104. >> whatever any of us has done, whatever contribution we have made begins and ends with rose and joseph kennedy. >> reporter: the rose fitzgerald kennedy greenway, a center city park for young mothers and children. a park championed by the senator on ground where his mother played as a child. a hall where the senator declared his candidacy for president in 1979. >> today i formally announce that i'm a candidate for president of the united states. >> reporter: boston's mayor, tom

67-year-old will perform a once in a lifetime free show on september 26th at the intimate village vanguardn new york city. to enter the ticket sweepstakes, head to barbra streisand's official website. now you must preorder her new cd, and you better act fast, because seating is limited. good luck. >>> from one top cook to the baddest group of soldiers around, there is something for everybody in theaters this weekend. george pennachio has the story. >> i'm jewel l.a.ia childs. bone appetite. >> reporter: julie and julia. through the eyes of a young woman who is searching for her own meaning and purpose. meryl streep takes on the larger than life role of the famous chef. stanley her adoring husband. amy adams is the cook who pulls herself out of the hum drum life by concocting a crazy scheme. >> maul 240 recipes mastering the art of french cooking in one year and report it on a blog. >> what you filming? >> a a documenting. >> about what? >> i don't believe in love. >> a jaded young woman who meets the guy of her dreams while she is traveling across the country interviewing people for a film

the vanguard went up. thanks so much.preciate you being was. >>> and now let's get to the fab. >> thanks, erin. worth updating people on cit. it wasn't that long ago that i was reporting on cit, almost every hour on the hour. as it appeared to be with an approaching chapter 11 filing. cit managed to move through that and underwhich they provided the company $3 billion. that has given cit some breathing room. this morning i do get news from the company that preserve tax benefits that they currently have that might have been threatened if, in fact, the ownership structure of the company had changed under u.s. federal tax rules, if one or more 5% shareholders actually increase their ownership by 50%, they could lose tax benefits. those are important for a company like cit. believe me. shields a lot of gains with those kinds of benefits. and so this will now not impede cit's ability to pursue what they are saying. as well, the company also detailing, i guess, if you want to call it that, its close relationship with the federa

i, for example, put some money in vanguard value low, small cap index.ai know that over time that type of stock has outperformed virtually every other stock. >> if anyone wants to track it the vanguard is the vbr. thanks to both of you. we appreciate it. bob and bob. >> all right. >> if you want to read more about index funds, you can find the story in september issue of kiplinger's on newsstands today. >>> the wall street debate not limited to the big guys. we look at one leader who pocketed a cool $200 million last year. showing just how hard it might be to clamp down on what say is excessive comps. >>> plus an exclusive interview, mike huckman talking to the ceo of novartis, after the attacks on his home, his family. it was truly shocking. mike will talk to the ceo. mr. evans? this is janice from onstar. i have received an automatic signal you've been in a front-end crash. do you need help? yeah. i'll contact emergency services and stay with you. you okay? yeah. onstar. standard for one year on 14 chevy models. the street." we've heard a lot over the

. >> reporter: john vanguard, kennedy was more an neighbor. they were friends. >> he called me one time and said the greatest father/son experience i ever had was taking my older son down the colorado river. and patrick, my youngest son,s 13. ready to go and wants to take your son along. and it is -- he ought to come, too. we spent five days floating in the colorado river and got to know him well during that time. he was a lot of fun. >> senator kennedy's van is still here in front of the house. neighbors tell us he loved to drive his vehicle because he could get his dogs into the back of it and easily transport them from place to place and from time to time he needed to get a wheelchair into that vehicle as well. here in front of the front door, you can see a welcome matd. picture of a sailboat. something she absolutely loved to do. the neighbors tell me this was his wife's dream street. they moved here about ten years ago and they say that they brought so much life to the block they hope that his wife wi will remain. >> a great dog park in t

especially when we're talking about of a vanguard cooking. because avante guarde cooking is no reference. something very emotional. within you eat a good meal, traditional meal you have previous reference with something else you made before. similar to the thing that i had in paris or the thing i ate in barcelona, you have a reference. but when you have in front of you a dish of avant garde cooking, you have no reference. when you go to japan you are think you are in another planet. and about food, too. it is nothing like eating in the western world. not the food, the spirit behind the food. it's a new world. if you are in japan you get a dish in front of you it's only the relationship between you and the dish. are you ee mock physical about what you see or not. because if it's first time you've been japan you have no reference. the tea ceremony in japan is to cry. but you need to be willing to get in to that special world. because if not, you may think that that tea ceremony is something very superior puffer laws -- superfluous and avant gar

she is vice president of current tv what they call their vanguard journalism unit. she is also the sister of the "national geographic" tv correspondent lisa ling. laura herself is a well-traveled correspondent. euna lee is 36, also an employee of current tv. she, by the way, has a 4-year-old daughter hannah. she's married to an actor. they live in l.a. and by the way, euna lee and her husband are due to celebrate their 10th anniversary this very month. no doubt it will be a very, very happy anniversary if, indeed, as the report suggests, they are about to leave north korea. shepard: i should say. jonathan hunt, thanks. quickly, ambassador bolton. of course there are many layers to this story. but what a triumph for the administration and on behalf of these family that these two women get to come home. >> well, certainly. i think everyone is happy that the two hostages have been released. but i think you have to look at the potential complications, both on the nuclear side and the potential implications for future hostage situations that americans might be put in. an

go to, say, a brokerage firm, vanguard, buy it yourself, or you could go to a brokerage firm, charles schwab. you could pick many, many no-load funds and do it yourself. >> yeah. you want to look for no-load funds, where want to go. that 5% really, really adds up. i hate for anybody to pay that. number two, you say investing voecap you need to look at here. your expense ratio. >> whether you buy a low fund or no low fund, operating costs that the fund will charge you. and these, this is for operating management and after the i and advertising. called an expense ratio. a percentage of the total fund assets that go to operating the fund. and these expense ratios range from anywhere from 0.1 of 1% to 3% or more. again, this is -- takes money right out of your pocket. it is very easy to find the expense ratio. go to the website of the fund. or you go to the fund prospectus and it will say expense ratio. 0.2%. you'll know if your fund is charging high or low, and you could compare the expense ratios. say all things are equal. the returns are the same. and one fund is charging a half percen

. >> vwo, vanguard, and solar select atf. ticker symbol t.a.n. >> solar's so cute.ike pinto, what you got? >> i actually sold a lot of my precious metal and base metal holdings, i think we are overextended in the short-term. and i would look to buy tbt. >> tbt. >> yep, double the inverse. >> and it shorts the long end of the treasury. >> 20-year plus, lehman brothers 20-year plus. >> joe miller, wall street capital. >> i'm not a stock picker, i would say buy a house. >> buy a house. >> hey, i went shopping for apartments this weekend, looked at two of them and the price is looking pretty good. dan north, what are you buying? >> well, we're a credit shop and bottom up, we look at companies to see if they're paying their bills or can, and from an economic point of view, we strongly believe the economy is is recovering, going to look good from the third quarter on. that said our business looking forward from bankruptcies we still think it's kind of risky everywhere so we wouldn't favor a particular industry in the the moment. >> harry dent you have a dark view of the w

barclays global investors, the vanguard group, and state street global advisors round out the five top holders of google. meanwhile, the company just one of the big technology names leading that sector and the broad market lower today. what happened to that tech rally and can it stage a comeback? cnbc's silicon valley bureau chief jim goldman now with a closer look on that angle. jim? >> yeah, maria, welcome back to you. indeed google was one of those big names that got crushed to you. i suppose it will all come down to earnings tomorrow from hewlett-packard and we'll see if hp can build on the good news the sector has already enjoyed from the likes of intel, ibm, apple, and of course cisco. this has been a particularly brutal day from big cap tech but a 2% or 3% move to the down side for the overall nasdaq doesn't necessarily eclipse the big moves many of these names have seen over the past three months. apple, well, they just suffered an absolute drubbing today, and that's going to hurt for those recently adding to their positions. but it's hardly a blip when you look at apple over t

stood witness with the senator's wife vicky and his only surviving sibling, sister jean, in the vanguardr way, niece caroline kennedy lightly touched the hearse. the drive is and 70 miles. crowds gathered on overpasses with signs saluting the senator. among them firemen lined up on a bridge in north quincy. once in boston the motorcade made it's a way past building significant in kennedy's past, saint steven's church where kennedy's mother rose was baptised and where he eulogized his mother when she died at age 104. whatever any of husband has done, whatever contributions we've made begins and ends with rose and joseph kennedy. >> reporter: the rose kennedy green way. a park championed by the senator on ground where his mother played at a child. faneuil hall where the senator declared his candidacy for president had 1979. >> today i formally announce that i'm a candidate for president of the united states. >> reporter: boston's mayor, tom menino, rang the faneuil bells 47 times, one for each year kennedy served in the senate. and the motorcade proceeded through south boston where kennedy

numbers, too westernized, too secular and two shallowly rooted in their societies to serve as the vanguard of democratic change. according to this view, the religious historical and cultural traditions of the middle east make the region somewhat in fertile soil for western-style democracy. and therefore the more likely path to an eventual democratic dispensation would be the islamic parties are more culturally conservative leaders who can gradually bring their countrymen to accept democratic principles and practices by clothing them in more traditional garb. of course, this dichotomy is not as stark as i have just presented it. but it does i think helped to undermine the potential for serious and legitimate disagreements about which sorts of individuals and groups democracies promoters should give priority to i think advance our cause. to discuss this question, we are very fortunate to have with us here today not only the book's author, joshua muravchik, but also three commentators who are highly qualified to discuss his book in the issues that it raises. let me briefly introduce all of th

their freedoms are its stake and they stand up and fight when -- for those freedoms and your in the vanguard. i am encouraged by the poll numbers. i want to take a moment and tell you about americans for prosperity and americans for prosperity foundation. it started four and a half years ago. it was an idea that asked a question. we know that whenever there is a budget fight or tax battle, whether in washington or state capital, we know there are going to be people on the big government side. you always see that. maybe that is the public employee union standing up and saying we need the money for this government service. maybe it is for the radical environmentalists saying we need that money to save the environment and so -- safe polar bears and everything else they are for. they have their groups out there standing up. they are organized usually around getting something from government as garver norquist pointed out. he is here tonight. he pointed this out. they want something from government. our side simply wants to be left alone. it is harder to explain to our people that you have to get

of your 10 or 20 stocks you do not have that ability or time but fidelity has 500 million shares, vanguard has 1/4 billion, all of these big mutual fund companies are the big holders or the big owners of these companies. the way they seem to have treated it our investors just want us to get a good return this is the paper we're moving around but that is not the case you are the owner of the company you are hiring the guys to run the company and those other guys of hire the people that do the day-to-day work and one of the things i like to see happen is the mutual fund companies are required to recognize they're fiduciary obligation renown the standard of care is a legal obligation is too just be a reasonably and not do anything to frolov at -- khoo list fiduciary obligation should be your the honor on behalf of your investors that means a do due diligence on board members these guys are notorious for not voting shares because of a star rattling somebody's cage, by the way the only group that ratchet-- rattle the cages calpers because they're so big they can tell anybody to jump but if you

their freedoms are its stake and they stand up and fight when -- for those freedoms and your in the vanguard. i am encouraged by the poll numbers. i want to take a moment and tell you about americans for prosperity and americans for prosperity foundation. it started four and a half years ago. it was an idea that asked a question. we know that whenever there is a budget fight or tax battle, whether in washington or state capital, we know there are going to be people on the big government side. you always see that. maybe that is the public employee union standing up and saying we need the money for this government service. maybe it is for the radical environmentalists saying we need that money to save the environment and so -- safe polar bears and everything else they are for. they have their groups out there standing up. they are organized usually around getting something from government as garver norquist pointed out. he is here tonight. he pointed this out. they want something from government. our side simply wants to be left alone. it is harder to explain to our people that you have to get

their freedoms are its stake and they stand up and fight when -- for those freedoms and your in the vanguard. i am encouraged by the poll numbers. i want to take a moment and tell you about americans for prosperity and americans for prosperity foundation. it started four and a half years ago. it was an idea that asked a question. we know that whenever there is a budget fight or tax battle, whether in washington or state capital, we know there are going to be people on the big government side. you always see that. maybe that is the public employee union standing up and saying we need the money for this government service. maybe it is for the radical environmentalists saying we need that money to save the environment and so -- safe polar bears and everything else they are for. they have their groups out there standing up. they are organized usually around getting something from government as garver norquist pointed out. he is here tonight. he pointed this out. they want something from government. our side simply wants to be left alone. it is harder to explain to our people that you have to get

their freedoms are its stake and they stand up and fight when -- for those freedoms and your in the vanguardi am encouraged by the poll numbers. i want to take a moment and tell you about americans for prosperity and americans for prosperity foundation. it started four and a half years ago. it was an idea that asked a question. we know that whenever there is a budget fight or tax battle, whether in washington or state capital, we know there are going to be people on the big government side. you always see that. maybe that is the public employee union standing up and saying we need the money for this government service. maybe it is for the radical environmentalists saying we need that money to save the environment and so -- safe polar bears and everything else they are for. they have their groups out there standing up. they are organized usually around getting something from government as garver norquist pointed out. he is here tonight. he pointed this out. they want something from government. our side simply wants to be left alone. it is harder to explain to our people that you have to get i