wall street was to the rest of the world. why do we think we are outside of world events, that we are somehow immune to world events? we are absolutely not. once again, i think we have got to do with the fiscal problems, and the good news is i think there seems to be the political will in washington to do something about it. we have been wrong before, and we could be wrong again, but let's hope for the best. if we do not face these problems, we're going to have serious consequences down the road. who will bail us out? i do not think there is enough money to bail us out. tavis: china. put his head lineup, jonathan. obviously, for those of us to read "the wall street journal," you could not have missed this. this just greats at me. i cannot stand it when i see headlines like this. hedge funds are back, bigger than they were before the crash. what do you make of that? >> par for the course, ok? when the government rescue wall street in 2008, it really began with the rescue of bear stearns. whole idea was to reestablish the statu

chris: let me ask you about wall street and its clout. i have a suspicion that the "wall street journal" op-ed page is under the mentality of that mentality that we have to salute the wealthy and everyone else is a parasite. that whole mentality you read in the pages of the "wall street journal," is that more potent as an argument to the congress than the average guy out there, woman out there, who says, look, give me a break, i need my medicare. >> i don't think that argument appeals to a broad base across the country. chris: does wall street have clout in this debate? >> yes, they do. they have clout because they are the people who are running businesses that are employing so many people across the country and hiring -- >> well, wall street. they're not heroes. they're producing nothing. >> that's not true. it's not a parasite class. they're people who are financing everything else. >> they're not actually creating good. >> yes, the finance comes to a point where, if you're a company and you want to hire people, you have to go to wall s

on wall street businesses? guest: with had some concern from agencies about pieces of a lot, how they might be implemented by regulators. there is wiggle room to put together how do regulations will work. and they are keeping a close eye on how the regulators are putting together the rules. but there have been expressed concerns about what dodd-frank with me. but we're seeing a lot of uncertainty and that would like to see exactly what they're dealing with so they know what the stakes are. host: what has been the reaction from the democrats in the senate? guest: 1 equated it to one in to repeal nuclear regulations in the wake of a nuclear meltdown. they're saying there's a gigantic crisis. in response to that crisis, dodd-frank past, and that you want to go back to conditions that they're leading up to that crisis and the first place. host: here's a quote. they continue to side with wall street interest to would pour millions into their campaign coffers. guest: there are indications that there are some donation

of wall street bankers legal to slit all ladies throats they are untouchable it's worse than the mafia these guys are absolutely on top of all their cancer and you've got to purge him. so the michigan democrat also said federal prosecutor should review whether to bring perjury charges against goldman sachs c.e.o. officer lloyd blankfein and other current and former employees who testified in congress last year levin said they denied under oath that goldman sachs chuck a financial position against the mortgage market solely for its own profit statements the senator said are untrue so what do you see or sponsor the specific case max you know about this specific situation oh well let me say this about that replay cards a report from the period when he was making that testimony and i said explicitly on this program that he was going i thought i said then those little thing you know because i live you perjured himself ok but the reality of it being carol so the panel said goldman sachs the light on abusive sales practices was rife with conflicts of interest and in particular in the case of

rhetoric out there that says that rich people and people on wall street are the producers of society and we have to do whatever we can to enable them and prevent them from having any difficulty in paying taxes because without them we won't have any jobs and cetera et cetera therefore when goldman sachs commits you know securities fraud or worse we should look the other way because these people are really the producers of of producers. and it would be counterproductive to put them in jail you know what good are they going to do in jail etc etc and this is the kind of thing you actually hear from people you know and i've actually even heard this from government officials who are isp were supposed to be prosecuting these matters you know they'll actually say to me well you know it's good enough that we find them because that sends a message you know in this world you know the humiliation is really bad enough being outed as somebody who's committed or you know an offense is bad enough we don't say that about drug dealers or murderers you know we don't say oh the humiliation is bad enough

s dictators like moammar gadhafi and the wives of wall street had on shows and hoping that that money would trickle down to us it's that they wall street is surging the banks have tons of cash the rich are never been richer and yet our economy is still in the tank for working peoples and dozens just once and for all approve the trickle down economics is an idiotic idea. where do you get the statistic the the rich are richer than they've ever been in fact that's that's not the case the rich have seen their incomes fall just along with everyone else the last two years for the last two years but never made most of a back up no i don't think that's i doubt eighteen and a half years ago the rich were richer than they've ever been. fair enough but look i don't really know this quantitative easing is necessarily a trickle down policy i mean quantitative easing has been you know about the notion that you can boost the economy by by you know boosting the cash flow boost the amount of dollars that the government prints and i'm not really sure that that's ever been sort of you know the reaganomi

through his chief of staff is a former wall street guy. it is a problem i mean. presidents feel like they need to keep wall street happy the market starts to tank the president gets blamed for it when the market does well the president doesn't always get credit so i think that i think you're right i think it is a big concern now one of the things that we saw in this report is they specifically point that a lot of fingers at goldman sachs at deutsche bank for shorting investments but were they really the only ones doing it you know do you think that this is something where you can point a lot of fingers or a lot of people to go on trial or were these banks the perfect examples because they came out relatively less i guess you could say than others but i mean these were in the report these were case studies these weren't the only only examples just about everyone on wall street was involved in questionable activities and the report makes a really persuasive case that fraud was the driving force behind the financial meltdown this was not an act of nature this was no

we say that in a lot of wall street books these days. there's a culture and maybe that's something that does in some ways connect what we saw in nymex in the '80s and '90s, and kind of the period -- >> guest: way beyond. >> host: that does also continue on across a lot of what we saw on wall street. sort of the last bastion of that i guess. >> guest: iceland nymex the last bastion of really hyper sexualized, really almost maniacal, i can do whatever i want kind of behavior. i think most people have books that document this during the '80s on wall street, but one of the bankers who i spoke to in the book, he said there's too much at stake now on wall street. we're talking millions and millions of dollars deals we can't be doing cocaine off the desk anymore. you can't do that go into meeting and do a million dollar deal. it's gotten to the point where certain a lot of cleaning up had to be done at any bad habits, if they're being pursued, which i'm sure they are quietly in some cases, very much behind closed doors. it's not an ostentatious

each week keep it right here where wall street meets main street.ave a great week, everybody, and i'll see you next weekend.

but have no fear wall street will save the day a far right wing front group created by wall street banks toure's known as the american action network is reportedly helping shills to it sounds town hall meetings and the republicans their talking points in the audience in the form of super softball questions i guess republicans are trying to avoid the same fate as democrats during the two thousand and nine townhall fiascos in the middle of health reform debate so will work and is that the only way republicans who want to debate through manipulation here offer some more answers on these issues a reporter extraordinary and blogger for think progress lee lee welcome if you have your town great to have you back with us tell us about the american action network oh it's so frank group as you mentioned but it was started just two years ago it's relatively new it was founded. ed gillespie with a group of wall street bankers including. ken lang dunn who you're very familiar with but also some other investors from hedge firms private equity firms they came together and founded this group not only to

tonight pulitzer prize winning journalist chris hedges will join me to discuss everything from wall street and war to state of the media today then we'll continue our look into the brics conference in china and i'll see if i imagine the world bank which meet this weekend here in washington d.c. are going to be ready to listen to these emerging powers then it's a rare up it are presidents obama sarkozy and prime minister david cameron lay out their plans in libya these leaders make it very clear that get off he must go we can't help but wonder is this a march to an all out war with boots on the ground and it's friday so we're going to celebrate properly with a toast and happy hour i'll be joined for some drinks and some fun i produce a jet producer jenny churchill and think progress as alex cites walled china up some the hottest stories making a buzz this week but we're saving that for the end of the show right now let's move on to our top story. as congress continues to bicker over how to spend money and where to cut money one area still gets bypassed it's military spending but some politi

the bankers on wall street were pushing the line well it was a liquidity problem or is it and solvency issue or is it a market historical change that we didn't see coming and i pointed out at the time that it was just basically fraud and now it's coming out clearly i mean goldman sachs. lloyd blankfein is wanted before congress to testify for perjury because as i said on the show unequivocally he's committed fraud are you the fraud it is there's no there's no debate about it he is a friend. as in larson mystic. of the people and there are still a bad word later and it will always be alleged because of course there will be no justice delivered the department of justice will never investigate these i'll give you allege it's thirty stories i step on it like like five. complete lettuce to society the fact that he's allowed one extra breath in this world is obama's shame but of the obama's legacy to do with your fear for america bobby he let. breathes that's his legacy so anyway so everybody's like trying to come up with conspiracy theories and rumors to explain the soaring gold and silver

right now we take you to wall street. turn-around this morning. day after the dow saw a 140-point drop. in asian markets in the evening, their day with a downer, too. bloomberg's jane king is live at the new york stock exchange with the moneyscope report. jane, good morning. >> yes, good morning, eric. rough day yesterday. but a brand new day today. we're a little bit higher. we have a ways to go to make up for losses yesterday. we are seeing stronger than expected results from goldman sacks and johnson and johnson. it is helping give us a list. the santa clara based intel reports the quarterly report after the close. comments from the treasury secretary tim geithner. he did an interview with bloomberg and said the u.s. will keep the triple-a credit rating. gold this morning hit another record high in trading earlier today. trading just under $1,500 an ounce. we have weakening dollar. it is sending investors out to look for a terntive to currency. gold is the favorite one. after the s&p 500 said growing risk the u.s. will default on the debt. now

, "the wall street journal report." now maria bartiromo. >> here is a look at what is making news as we head into a new week on wall street. encouraging news about jobs in america. the unemployment rate fell to a two-year low in the month of march as companies created jobs at the fastest two-month pace since the recession began. the labor department says the economy created 216,000 new jobs, slightly better than analysts' expectations. the unemployment rate dropped to 8.8%. >>> the markets wrapped up a strong quarter, the dow having the best first quarter showing since 1999, the s&p since 1998. the dow hitting a six-week high on wednesday and highs for the year on friday. there is now another bid for the stock exchange. ice making a counteroffer to by it at a price 19% higher than the deutsche borse's offer. >>> the case and schiller s&p index showing house prices dropping for a seven months in a row. >>> warren buffett may have to start looking for a successor and the man thought to be the replacement of berkshire hath

and now here's an early look at how wall street will kick off the day. the dow opens at 12,201 after sinking 140 points yesterday. the s&p shed 40 points. the nasdaq dropped 29. taking a look at overseas trading this morning, in tokyo, the nikkei fell 115 points while in hong kong, the hang seng tumbled 309. the warning about the nation's credit rating that we told you about at the top of the show sent stocks on their steepest slide in a month yesterday. investors started the day worried about ongoing debt problems in greece before the s&p's newly negative outlook on u.s. debt fueled fresh fears about the economy. gold traded at a record high near $1,500 an ounce. overnight, the downward trend continued as the so-called safer betts continued. oil tumbled after opec said high prices will likely put a major strain on economies. after the bell, texas instruments fell short of estimates. earlier, city group closed flat after barely beating expectations. apple is suing rival samsung claiming its galaxy smartphones and tablet, quote, copy the ipad and iphones.

i think the evidence can be seen across wall street. a number of successful hedge fund managers use their brains and made a killing. they made a fortune. there were always examples of using your brain and how that pays off when it comes to returns, whether a mutual fund or a hedge fund. it can also get you into a lot of trouble. it is all a matter of how you use it. you can come to the wrong conclusion. >> did you get a chance to see all the books that have been written about the financial crisis? >> that is not our cup of tea on the shows that i do. we cater to the very active trader. we don't spend a lot of time talking about what has happened in the past and let -- ls is having an impact on what is happening right now. >> if you are trying to figure out what is going on in the last couple of years, where would you send somebody? >> that is a tough one. there are so many out there. i think david faber's book. he works at cnbc. most people want to understand. there are so many out there these days, it is really amazing. my colleagues h

. >>> a major rally on wall street today. we haven't seen the dow this high in years. we'll tell you what is sending stocks soaring. >>> lost luggage, bumped flights. the new bill of rights when you fly and how airlines will have to pay for breaking the rules. >>> plus, what watching too much television can really do to kids. >>> hi, i'm meteorologist lawrence karnow in the cbs 5 weather center. we got plenty of clouds outside right now and yup, doppler radar starting to pick up some scattered showers too. how much more of that can we expect? we'll talk about that coming up. ,, ,,,,,,,,,,,,,, investigating the latest in a string of sex crimes nea merritt. kiet do shows us a >>> a woman followed into her own home forced to undress. this afternoon oakland police are investigating the latest in a string of sex crimes near lake merritt. kiet do shows us a enabled on high alert. >> reporter: i bought some mace -- >> i bought some mace, some pepper spray. >> reporter: in the past few months neighbors say the quality of life near lake merritt has gone from bad to worse. >> i

with bank of america. >> mark: opening bell on wall street. low day on wall street today. >> darya: let's take a peek on the numbers in the weather as well. in looks and easy on the bridge, the lira and seven francisco cool start for the day. >> james: this afternoon will be fantastic we have to get through the cool start. some folks are in the 30's right now. the chilly start for you we have patchy low clouds today. we will have a nice afternoon and then our next chance of the sprinkle will come tomorrow. this will be mostly north bay event. we will break it down coming up. 47 in san francisco, oakland 49, right now san rosa 38, not by 37. sunrise and about nine minutes to those temperatures will continue to drop to be degrees or two. this afternoon it will be fantastic. lets fly around the bay. 3:00 p.m. 67 san rosa, 62 mill valley, 63 vallejo, in san francisco 60 degrees, cool around coast. along the peninsula 62 san mateo, oakland 63, 64 fremont for there in the east 66 and antioch, san ramon valley 63. 64 in san jose, but most areas spots

congress are starting to get grilled by their own constituents but leave it to the banks there is on wall street to come to their rescue i'll tell you why there are now paying people to push the g.o.p. agenda plus over seven hundred military documents released by wiki leaks quite embarrassing light i'd want on a mole day one in prison involved a misunderstanding over a casio routes wrist watch and search engine mogul google has been ordered by the spanish government to a race links about some spaniards i'll tell you why spanish officials claim they have the right to be forgotten. you need to know this republicans are getting reamed by their constituents in town all means all across the nation speaker of the house john boehner getting congress to weeks off members set out to reconnect with their districts and defend their votes in support of the paul ryan budget proposal that all the republicans voted for except for privatizers medicare to pay for massive tax cuts for millionaires and billionaires and many republican congressmen and women received an earful of cheer take a look. you did not vote

wall street is accomplice. speculators in oil future market who bid prices up are betting that things will get worse in the middle east. >> it's not a fear premium. it's a risk premium. they accept a risk and you pay premium based on the risk. >> that premium is costing consumer 35 cents extra a gallon. so in bay area it is costing $4.25 a gallon. it's taking such a toll, people are running out of gas. calls for emergency gas service are up 13%. >> what you could draw from this is the fact that people are trying to stretch it when it comes to the gas in their tank further than they would normally. >> perhaps the one bright spot is the job outlook. jobless rate dipped. hiring spree like companies like mcdonald's could lower the unemployment rate more. the restaurant chain plans to hire 50,000 people in the one-day hiring event. >> 75% of managers started as crew people. people in the top management in the corporation also start as crew. it's not just a hamburger flipping job, though a great entry way to the job

>> no, the academics who went along with -- to make wall street look good. but the american public is most angry at the wall street bankers because they made out >>> i think john will be real pressure on the united states to reinstitute the airstrikes in libya, and until we drive gaddafi out, then the pressure will come to put boots on the grounds for the aftermath. >> eleanor? >> republican plan to gut medicare will put the 25 seats in the house with the democrats need into play to make it plausible the democrats could regain the majority in two years. or year and a half. >> richard? >> a gas tax holiday passes the house. >> is that good? >> it's politics are good. >> obama will keep tax cuts for the -- foes who are not rich but only for a million dollars, and up. >> you saw my prediction, clarence! >> i didn't know that! >> bye-bye!

wall street cares a lot about that. because you know for them even if interest rates go up a little bit in the long term which they have to at some point in their very low historically very low levels or if you know that for sure you know the zero are but they could lose a little bit of money and they could also they also don't like any kind of inflation so they would rather see a recession than a little bit of inflation that's their trade off it's very different from what you or i were in when the recession all they got to do is stop buying long answer buying short that's right they make and they make this big rig just as much money in fact arguably you know a whole lot more. the s. and p. . told us enron was wonderful as i recall that it was the economy was wonderful i mean these guys don't have it exactly the best record in terms of talking about what the future's going to bring or their bond ratings if you remember that two thousand and eight. congressional hearing where there were instant messages from two of their

city group beat wall street expectations earlier this morning. it also ge and mcdonald's.e earnings have been disappointing. homebuilder said the men and it out today. sentiment--a survey from the association for business economics says the economy is gaining strength is paid unrest around >> reporter: love and jealousy is the motive behind the shooting in san leandro. >> reporter: i'm at they featheg happened here in the parking lot a man and his crew from reading side of the restaurant at 11:00 p.m. saturday night, the ex- boyfriend showed up, the ex- boyfriend and the current boyfriend got into an argument outside in the parking lot. that's when things got heated. the ex-boyfriend took out the gun and shot the current boyfriend four times. the victim is in critical condition. the ex-boyfriend has been arrested. >> reporter: santa cruz police searching for two men suspected in attempting to kidnap a girl. milbury and grant street, the driver of the burnt orange color to cargill led a 16 year-old girl to get inside. she ignored them. when police arrived they could not loc

>> mark: looking for rebound on wall street we will bring you the >> mark: opening bell on wall streetnd day after the dow fell over 100 points yesterday. it is earning season, j.p. morgan chase coming out with their earnings an hour- and-a-half ago it beat wall street's expectations. futures are up 84 points will bring you the numbers. >> darya: man accused of killing four women in northern california including two in the bay area is one to be arraigned today. investigators are looking into whether he is connected to other murders across the country. on the east coast and elsewhere. he is accused of murders in fairfax, port costa, you burke county dating back three decades. he was arrested last year for probation violations that's when they found items in his home leaving him to the deaths of multiple women. his neighbors are stunned at the news. they also had instrument interesting observations. >> weird, psychotic, unstable, extreme, crazy guy. >> i heard rumors there was a girl staying with them and she disappeared. i don't know that's rumor. >> to withstand inside your house and s

eastern time, we will get wall street's perspective from john fund, a columnist with "the wall streetrnal." we will talk to them about all the questions that you raised. here is "the new york post" this morning with president obama's tax return from 2010. the white house issued a released showing what president obama paid, as well as the vice president and his wife there is president obama and michelle obama 1040. let me read a little bit from "the new york post." "they paid about $435,000 in taxes, a $51,000 in illinois state taxes, and they contributed $245,000 to charities. the bulk of the earnings continue to come from books sales that generated $1.5 million." this is from "the washington post" this morning. if you look at vice president joe biden. "the wall street journal" says they paid $86,000 in federal taxes last year. several host: the stories break down the charities -- host: several of the stories break down the charities that president obama and michelle obama gave to, as well. we're talking about the dead. caller: we have two problems. the debt -- we really want to make

i mean, wall street says, "hey, we put our money up, we own this business.t's ours, and we're going to run it." the regulation community says, "these are entities that are part of the public trust. they were non-profit, you've converted them to for-profit, but they still have a public mission to educate our society." and that's where the big tug-of-war has been, but life's too short to be at war with everybody. and i don't believe the regulators are our enemies. >> smith: this tug-of-war between regulators and investors has put wall street on edge. short sellers have entered the fray, betting education stocks will fall. >> check out apollo group. afr thclose, the earnis came out. they were a penny better than expected, but they might face a million and a half in liabilities in some open-ended report released from the department of education. >> smith: the industry is fighting hard against the regulations. washington lobbyists have descended on capitol hill with donations in hand. and they are starting to have an effect. in march, 18 congressmen and women fro

the wall street oligarchs and corporate have been not just dominating but in many ways looting the use and the use of dollars from the public funds. based on their financial shit out of the shadow financial system making the. as of dollars is poor and working people are pushed to the margins and i think more and more working class persons who thought they had a secure existence recognize that their plight is more and more time to the plight of poor people and type to the plight of working poor people so you were experiencing now the early stages of a kind of a shift in perception in the united states after west you have mentioned several times that americans are working harder than ever before they're earning less than ever before and the economic disparities in this country are deepening and deep down if you call yourself a critical supporter of u.s. president barack obama how would you assess his leadership and particularly president obama living to the promises that he made when he became president but i think that he has now aligned himself with forces that promote the abandonment

but at the same time we have to acknowledge that these companies wall street oligarchs and corporate elites tied to not just the financial corporate complex we talk about this tonight but the military industrial complex. the prison industrial complex. to be in pain meant corporate media complex makes it very difficult for people to believe that we can make a difference and that's what we're here at this for that form to let people know what we can make a difference we have in the past we do now and we wield in the future. the truth is that so much. richer. than it. is u.s. president obama is still an honorable recipient of the nobel peace prize to be fair to two wars missile being office. the official publication. i pod touch from the. life on the. video. keys mind. and feeds in the palm of your. com. live. see wealthy british. market finance scandals find out what's really happening to the global economy with max concert for a no holds barred look at the global financial headlines tune in to kaiser report on our feet disarming saddam hussein. past macharia of iraqi citizens. this ev

taxpayers and they have bounced back wall street has bounced back but new york city is struggling and the government is struggling to bring in revenue and as we found out it is the people of this city that are working hard to earn a paycheck that are being hit hardest for that revenue. archery silk is something of a smoker's rights champion. living in a city where a pack of cigarettes cost thirteen bucks and the freedom to post where you please grows ever more limited. down in our basement this retired new york city police officer nurtures a garden of rebellion this garden is about reacting and defying their attempt to control my behavior hundreds of home grown tobacco leaves hang to dry before silk shreds and smokes are nicotine we're talking about products here so bacco is legal if they don't want people to smoke they should go to congress and lobby to have it from allies the big apple's new smoking ban comes a bit close very soon it will be illegal to light up in new york city's parks beaches and pedestrian plazas like this one in times square violators caught blowing smoke can be

. >>> also coming up, wall street welcomes april.bp wants back into the gulf, and the april fool's business offer that customers actually want. your early morning business headlines are straight ahead. >>> plus, hopping and skipping to the number one spot at the box office. >>> also, home run derby at yankee stadium. the first triple play of the season, and two huge upsets in the womens final four. you're watching "early today." >>> good morning. welcome back to "early today." i'm lynn berry. and here's some of your top headlines this morning. according to this morning's ""new york times"" the u.s. has concluded yemen's president, once considered an ally in fighting a branch of al qaeda, is unlikely to enact reform and should leave power. >>> today reports say at least 12 protesters were killed when security forces opened fire in one city while hundreds were said to be injured in another after police unleashed tear gas on protesters. >>> highly radioactive wart continues to seep into the ocean from japan's crippled nuclear plant afte