joining me now, sarah elson, author of "war at the wall street journal."- the wall street journal today wrote a very defensive editorial for the whole bloomberg -- murdoch empire. how did you read that editorial? >> well, i was sort of surprised that they took such a defensive stance, given that the wall street journal doesn't have anything to explain at this point, and it's not really the edit page's role, in my view, to defend its corporate parent, so i thought that was actually something after having spent so many years at the wall street journal that was unnecessarily putting the reputation of the wall street journal on the line given everything that's been going on outside the wall street and the rest of news corporation, at the "news of the world" and other parts of the company. >> what do you make of this bloomberg report they are making plans for what happens if rupert murdoch cannot remain in his position? >> i think that is one of the many unthinkable things that has become very thinkable lately. it used to be that rupert murdoch and news corpora

that the wall street journal is not reporting on this aspect of the story. that would not surprise me. he said oh yeah it was that they have you know have to run a political piece is covering this scandal but they have not reported their own c.e.o.'s rowel in this scandal here this is a tough one so if the word is medical this now the wall street journal are right i'd say let's wait till the smoke clears murdoch is a guy who is so powerful he works all the political parties you know what new york state he endorsed hillary clinton for senate when she ran he was with the tories under thatcher in england the conservatives then he went to blair and the new labor then you know he's back with the tories. he's able to work politicians across the globe and again their money and yet you know yeah there's been well he uses his newspapers to help get people back to the people they get elected help him build up his empire he's been doing it for decades he's been doing in a continent after continent and while i think the closing down the news of the world is a big step b

why the disconnect between wall street and main street? joining me a regular on fox's cashin' in jonathan good to see you. let's talk about the economy and what is happening on wall street. what this huge disconnect between wall street and main street? main street is still suffering. when they see wall street going up higher, their first reaction is does that mean more jobs are going to be created? >> don't fall into that trap of believing that somehow main street is different than wall street. wall street is main street. when wall street does better it benefits literally millions who work for publicly traded companies who own stock in their 401(k). don't believe what i happen to think is a slur that only a rise in wall street helps the wall street fat cats. why the stock is up? a number of reasons. a drop in fuel prices. resolution in greece. some movement in the terrible tragedy we saw in japan. there was a number of factors over the last three, four months that has kept trillions on the sidelines. last week we started to see some of tha

journal and they don't have any evidence to do so ok speaking of the wall street journal today the wall street journal is reporting that homeowners are are going to get screwed i mean this is this is the because we didn't restrain the banks because we didn't we didn't reinstate glass steagall the the deregulation basically of the banks that happened in ninety nine and two thousand. is largely still employees and the and the agencies that oversee the banks or are constantly struggling for funding and the head of the consumer agency congress won't even give obama his nominees and so the banks toure's are now starting to do subprime loans again this was where the wall street journal reporter she's what i'm going to go just i'm so glad you brought this up because also just yesterday in the wall street journal it was an opinion piece talking about a new book that's coming out that's going to back up the minority report of the se i see which said that it was not wall street that led the way to subprime mortgages it was actually the government that did it and that barney frank and chris were o

these hacking these phones to the wall street journal with the article that you wrote i read today is accurate you tell us about that well you know rupert murdoch and you know every every corporate mogul wants to will for his empire and the wall street journal is that rupert murdoch he's got all of the screaming tabloids and he's got this the ideological television station and it's all pretty lowbrow stuff but then over time as a woman's. vote in the u.s. you know he and i mean really globally the boss street journal is the paper of record for review the global financial sector and so he hired this in two thousand and seven and right before he did it a guy named les hinton who was the chief of his u.k. papers. i swore before parliament i don't know if you swore an oath buddy buddy but he told the british parliament that only one reporter was responsible for all of this wrongdoing in these phone hacking at the news of the world and he had done this exhaustive. investigation internally. that you know we could that's where he got the idea that this guy is only down to one person now it t

each week keep it right here where wall street meets main street.

, "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. america's debt ceiling deadline is rapidly approaching, and we are still waiting for word of a deal. talks are ongoing, meetings continue between the white house and congressional leaders, and there has been renewed optimism about a big deal happening to reduce the deficit and raise the debt ceiling. but so far nothing concrete. >>> it was a busy week for the markets stopped short on tuesday. the dow up better than 200 points on hopes of a debt and deficit deal, the biggest one-day gain since december. the markets had another triple-digit gain on thursday. but the markets were down on friday. we're in the thick of earnings season, and most companies are coming in ahead of expectations. apple had a blowout quarter. intel beat expectations. so did microsoft and yahoo. but yahoo's outlook was weak. among financials, morgan stanley and wells fargo beat expectations. bank of america met

hon >> are watching wall street. the dow jones industrial average is down 1 1/3 points out of the gate. some concerns about what is happening in washington with no compromise on the debt ceiling has been reached. they're trying to avoid an august 2nd deadline of the u.s. government running out of money. gold continues to soar to a new high. >> of this is not that far off. >> we have had a cool spring, a cool first half of the summer it's, it was hot and now it is backed cool again. here is that you for mt. tam. low clouds and fog. plenty of sunshine. you all enjoy that later on. temperatures are solidly in the '50s, warming to the '60s. sunny and mild this afternoon. all in all, not bad. 60s along the coast and '80s in winter. befall returns over night. the fall pulled back as we head towards noon. -- the fog pulls back as we head towards eoon. temperatures are solidly in the '50s. this afternoon, '60s and '70s around the bay. eighties in linz -- 80's inland. >> a look at traffic as we start with a bridge check. on t

, "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. bon voyage. the federal reserve's massive bond buying program known as qe2 has officially come to an end. the federal reserve spent $600 billion buying american treasuries in an effort to keep interest rates low and stimulate the economy. the program began last august, and it ended on thursday, the end of the second quarter. fed chairman ben bernanke has given no indications that there will be a qe3. the markets had a strong end to a weak month. the dow up in the triple-digits on monday, tuesday, and again on thursday. as concern about the greek debt crisis eased. the markets continued to climb on friday. >>> there was anger on the streets of athens this week as the greek parliament passed a five-year austerity plan in order to get aid from the imf and the european union and pay its bills. >>> two encouraging pieces of news for housing, meanwhile. the s&p case-shiller home index sh

welcome to "the wall street journal report." i'm maria bartiromo, today coming to you from the american century golf tournament in beautiful lake tahoe. a dire warning about americans' debt. will the country lose its aaa rating? as earning season gets underway, what does it all mean? which way will the markets go? and the economy ahead, next. >> i really like this interview. >>> and yes, that's me. my avatar, any way. the latest in cool gaming technology from microsoft. >> maybe i don't even have to come to work to do it. >>> no kidding! my discussion with jason kidd on the nba dallas mavericks about the business of basketball. "the wall street journal report" begins right now. >> this is america's number one financial news program, "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. a warning about america's debt from two key rating agencies. both moody's and standard & poors threaten to downgrade the rating of america's bonds if congress doe

and this is what wall street did in response.uy, buy, buy, everybody, buy, quick, invest in the economy again. this thing is moving. after the house yesterday, this morning mr. bernanke gave his report to the senate. and he dialed things back. mr. bernanke said maybe, all in all, now, meaning right now, maybe now, as in right now is not really the right time for goosing the economy, or helping, or stimulating, or however you want to put it. not necessarily righaway. the hearing started at 10:00 a.m. and then this is what happened. everybody out of the pool. run away. the ship is sinking. pick your metaphor and get out of here with it in a hurry. at least for now wall street is not lying awake nights over this washington, d.c., self-made crisis about republicans refusing to vote that the country shouldn't go into default and shut down. but the real american crisis, the one about jobs and the economy, that is a problem. that is a real problem. you do not always find wall street taking the side of the american people on economic iss

you mentioned that wall street got it and it is crisis and one of the reasons that some people point to. their problem is deregulation over the last thirty years government deregulation and the fed that this led wall street go willy nilly about whatever it wanted and shacked it something that people are happy to play a role in part of the ample of the oil spill in the gulf that that deregulation allowed for that kind of if that's going to happen do you believe that deregulation has been part of the problem over the last thirty years. i don't think it's a question of belief i think it's an established fact two things contributed to rectally to the housing crisis one was dramatic cuts in income taxes for the super rich so they had an enormous amount of capital that they wanted to find investments for and the second was the deregulation of the entire economy but especially wall street because that allowed wall street to curry fancy new bets to suck up all this money so it was floating around in the hands of a few that's a lethal combination i was the combination in the late one nine hun

tam camera we will back an imminent. sÑkékékióç]s]s well combat the opening bell on wall street a biggercted drop they are up 16. right now we have seen the adult drop 350. . and are forecasting >> little bit foggy here at the golden gate bridge we have seen as for allow we have another shot out of south bay and nice conditions out there morning it sunshine beginning to hit the guadalupe overpass san jose 59 degrees 85 later on this afternoon. we'll have more on and and the seven day in just a few minutes check on traffic >> meeting lights are active at the toll plaza looks like a normal ride west bound no incidents to report on the bay bridge no hot spots. the other are curly accident is not having any negative activity on your ride >> developing story we're following a pilot injured last night when he was attacked by two passengers in miami will trend is at the airport >> the pilot was getting ready to take off from miami and passengers complained about too unruly passenger he made a u-turn and came back to the gate and that is when the confrontation took place this is video we got off

but if you read the huffington post, you'd think i was, you know, some right wing tool of wall street, right? both things can't be true. i think that what has to do with is the sense of, you know, we take -- we have a position, and we can't compromise on it. so one of the challenges of this generation is i think to understand the nature of our democracy and politics is to marry principle to a political process that means you don't get 100% of what you want. you don't get it if you're in the majority. you don't get it if you're in the minority. and you can be honorable in politics, understanding that you're not going to get 100%. and that's been our history. i mean, you think about our greatest presidents. abraham lincoln, here's a guy that didn't believe in slavery, but his first priority was keeping the union. i have the emancipation proclamation hanging in my office. most of the document is those states and areas where the emancipation doesn't apply because those folks are allies with the union, so they can keep their slaves. think about that. that's the emancipation proclamation. r

well listen they're running out of options because their investors on wall street are telling the press is not acceptable i don't know if you notice this but the stock market plunged two hundred billion dollars or more. ago when the news came out one of us on solving this issue so who connell's the only people actually over the republican party and that's well true but at the same time he you know he pointed out on laura ingram show. you know crashing the economy is trying to stop government during clinton seemed to in your some benefit the republicans i mean they they tried this with carter in seventy nine we actually you fault it on one hundred twenty million dollars for the bonds in one hundred seventy nine one day to fall and it kicked up our interest rates by half a point for nearly half a decade i mean. are they you've been inside these meetings you've been you've you've you've been behind the curtain are these guys is this just all kabuki theater or are they seriously thinking about that they can bring down the american economy and somehow politically benefit from our. it's all t

i think wall street was disenchantsed it was tossed aside.ck on the table and teed up as the basis for the plan is a great thing. >> when wall street looks at plan like this, what primarily are think looking for? what of the benchmarks? >> i think the split, assumptions made by economic growth. that's the real key to pulling us out of this. you mentioned in a piece to this, the ratings agencies. i think maybe the ratings agency was erring on the side of progressiveness in light of they didn't do so well during the subprime crisis. think how much it priced off treasuries and the notion of credit, one of the biggest issues with what wall street was dealing as it retted to this deal. so i think if we can stem the tide of rating, a great piece in the short term for the market. >> and people that don't appreciate it, look at the debt ceiling and say it would be bad if the government had to pay more tomorrow, but what does it effect me? treasuries are the benchmark, the base for the -- >> they're the risk-free rate, right, against preparing everyth

. >> coming up, back to work on wall street, the next possible distraction for traders. >>> and how's business going at the vatican? the early morning business headlines is straight ahead. >>> plus why in the wake of the break-up of her marriage, maria shriver may be looking at a world-record payday. >>> the captain is back, two bizarre walkoffs and you think you ate a lot of hotdogs yesterday? think again, you're watching "early today." >>> good morning, and welcome back to "early today." i'm lynn berry, and here are some of your top headlines this morning. >>> former imf chief dominique strauss-kahn is facing new sexual assault charges. prosecute a french writer. if she files charges, he plans to respond with a slander complaint. he is already facing a sexual assault case in new york, although that case has been jeopardized by questions about the accuser. >>> in mexico officials are searching for seven missing american tourists whose boat capsized during stormy weather. one american has been confirmed dead. 19 other tourists and 16 crewmember were rescued. >>> yesterday in canada pr

it looks like it will be a rough ride on wall street and to a shoe mr.re big story i read cab meiji traffic delays when expected in marin marin county sheriff's deputy and mather send memorial service will be held today the third straight day the republicans will tried to pass a debt ceiling proposal and we will hope to see of the senator gets it on the floor in a last ditch effort budget effort and police believe they finally found a gun that was involved in a police shooting in the bayview district they said harding pulled of the gun and fired and police returned fire >> now talk of are whether we have a little bit of everything out there >> it depends on where you are and what you will say the fog is pushing through the bay area. you are seeing the fog not a pretty sight. low clouds and fog this morning in land will have sunshine this afternoon and the afternoon highs will be in the '60s-'70s >> the meeting lights have just been turned on at this bay bridge i knew developing hotspot west bound and highway 4 of a car and a big rig involved in an accide

he's been running the wall street journal for quite sometime as its publisher.nk changes in u.s. politics and u.s. media if this crossing the pond thing comes to fruition, how much would that change things that fox news or at the wall street journal or any part of rupert murdoch's empire? >> you could sell fox to the coke brothers. i wonder what would happen at fox news, but i think both of us know, i have a lot of friends and colleagues there who are excellent journalists who really understand journalism's public interest role, and when murdoch bought the journal, there was a great fear of this mixing of his opinions with the news pages. i mean, the journal has always had a conservative editorial page, and i think murdoch is really worried about this, because this was going to be his proud achievement. he's really trying to take on the new york times in new york, and he wanted the journal to be the dominant paper in new york. i think this creates a lot of image problems, and, i think, it's going to raise a lot of questions. when you have new york politicians sa

wall street futures fell.nd gold hit a new all-time high. >>> the most important data will be a first reading of u.s. growth for the second quarter. expected to show the economy grew at the same meager rate as it did in the first quarter, 1.9%. >>> sunday, treasury secretary timothy geithner was lowering expectations, while stressing optimism things will pick up. still, one fund manager pointed out that every time year on year growth is under 2%, where we are so far, the economy has gone into recession. >>> earnings will again be in focus. today, we'll hear from netflix. tuesday, amazon. automakers ford and chrysler and u.p.s. >>> this week is loaded with 12 ipos. the average price of gas jumped 9 cents a gallon over the past two weeks. >>> finally, a massachusetts man angry the car dealer who sold him a lemon wouldn't take it back intentionally crashed into seven cars at the dealership, causing an estimated $20,000 damage. the state consumer affairs office suggested he should have called their hotline. >>> in

>> wall street. when wall street came calling, he responded. in ways that sommers and geithner and others in the administration wanted him to respond. i think wall street is exhibit a. in so many instances, we see him siding with the strong over the weak. or compromising and capitulating on issues that do not serve the best interest of thes by that -- of the base that got him elected. >> part of his charm of why he got elected is he's not reactionary. what is wrong with a president taking his time listening to the arguments making decisions? are we in too much of a rapid fire society these days where everything has to be boom, boom, boom. i quite like that style of presidency. i won't say he's perfect. but i quite like that style of presidency. >> two responses to that. one, i laugh at my friends in the media, particularly those who are progressives or liberals, who celebrated the fact that he was calm and deliberate and methodical and he listened well when he was running. those same progressives are now giving the president hell for taking too

has been the wall street crisis that's put it back into business. actually is that a man of the economist the i.m.f. has been called in like a firm would call in a group mafia assassins to kill the labor union organizers and a company. that really is the i m s wrote it's the assassin of economy so is a solid well expect by the military. expect. the us government and the i.m.f. the very fact that they've appointed such an end and notorious anti-labor advocate is christine legarde british should just lead all the countries to say look you're erie formable we've got to start over again this is we're not going to stand for it right dr michael hudson we're going to leave it there thanks again for being on the guy's a report thank you know it's a very pleasure to be here. and that's going to do if this doesn't look as a reporter with me max kaiser and stacy herbert my guest dr michael hudson if you want to send me an e-mail please do so at kaiser report in r t t v dot ru until next time this is max guys are saying.

in the fitch or the rating agencies combined with the wall street banks and the hedge funds like john paulson and the wall street banks and the corrupt government officials in europe have colluded together obviously to impose draconian measures as a result of a racketeering charge a racketeering campaign to destabilize and confiscate this is you know terrorism but you know as i've said to people all along the fact that they don't rise up revolt the joke's on you but this is the thing that we're seeing across europe people are giving up these nations are giving up income producing assets they're basically the they're tollbooths right these are tollbooths they give income to the government. first of all by giving that was over they reduced their revenue further destabilizing their own economies but it's neo feudalism some outsider some lord somewhere else is basically collecting that revenue and it's going outside of the country so in the case of greece they're going to sell the state lottery for something like four hundred fifty million and it generates i believe nine hundred million i

allison has a wrap of the action on wall street. >> reporter: stocks on wall street managed to enter the upside on wednesday. investors were on-edge. worries are that pulling it down too much could have a crash-landing and have a ripple effect for the recovery. that didn't keep wall street from getting in a buying mood by the end of the day. the dow ended at 12,626. the nasdaq and the s&p 500 gained ground. financial shares bucked the trend and ended lower across the board, after moody's expressed concern about european banks. a rating on the service sector showed a slowdown of expansion in june. wall street watches the report more closely than it once did, since the service sector accounts for 80% of all jobs in the u.s. >>> more data due out thursday. investors will get the latest read on weekly jobless claims. economists expect the sector to have added 60,000 positions in june. that's a wrap of the day on wall street. i'm allison kosik in new york. >>> still ahead, bogus bank notes in hong kong. >>> and the harry potter series may be drawing to a close. but the spell is far from b

because that allowed wall street to curry fancy new bets to suck up all this money that it was floating around in the hands of a few that's a lethal combination now was the combination in the late one nine hundred twenty s. that led to that crash and when we did it again it led to this crash when we sat on finance i mean really regulated them from the night plate one thousand four hundred forty s. all the way to nine hundred seventy five or so and we really had high taxes on the super rich there were no financial crises none globally. or virtually no i think there was one in brazil in one thousand nine hundred eighty four we've got one hundred eighty eight since we've deregulated i don't think there's much to argue about here the question is what do we do about it ok then my question is peaking broadly about deregulation if it's been such an issue why is it that when you look at the three decades that deregulation the economy is still more regulated in some ways than it was in the one nine hundred fifty s. during a period of world war two boom an expansion for example and if fifty's few

first of all from from the wall street journal from his u.k. empire and secondly is there any possibility that the wall street journal or for that matter fox news could be involved in any of this stuff and might end up somehow damaged by it. well i i can't i don't want to see that oh i haven't seen any evidence os news wall street journal or our newspapers and his other papers were just so really all business right now it's limited to the news international and news corp the british series was run by seems more awkward sort of you know are i could see this basically in the history but. it's too. near the u.s. operations certainly it will if the u.s. department of justice and serious exchange commission in so once again investigation this would be her own company right now true if that were to happen yeah this really could save us media empires very poor do you think it's possible that it could take the entire empire down or would it just you know cost him some profits. it would probably cost them profits it would probably cost them a lot of the

. >> in our latest nbc news "the wall street journal" poll. >> i prescribe medication. >> the story claims bachmann suffers from incapacitating migraines. >> will not affect my ability to serve. >> costs her to miss two days of voting in the house. >> michele bachmann says migraines will not interfere. >> rupert murdoch flies back to the usa. will his troubles follow him? >> so the british hacking scandal is making cell phone users here in the u.s. concerned. >> senator barbara boxer joins me. >> there's no let-up today in the phone hacking scandal. >> members of parliament trained their sights. >> i am extremely sorry. >> this is the most humble day of my life. >> not so humble you couldn't wait for your turn to talk. >> good evening from new york. well, that didn't take long, just one day after the gang of six bipartisan senators released their framework for deficit reduction with the tentative support of 49 senators and a general air of welcome from the president, house republicans are busy shooting it down. paul ryan, the chairman of the house budget committee and the leadership's desi

it seems to be a good day on wall street.ll be right back. >> we are taking a peek on wall street. the dow is looking good. up 128 points. european officials are signing off on a plan to resolve that region's debt crisis, of course we are still fighting our own debt problem in the united states. a live report with a business analyst in a couple of minutes. muni buses and streetcars may be getting a new look. the transportation agency wants to completely cover up to 57 buses and streetcars with ads including wrapping them around the windows. the increase as will generate $5,000 more a year that could help to avoid service cuts. right now, muni allows ads on up to 20 percent of their vehicles with no ads over the windows. the transit agency is facing a $22 million deficit. >> seatbelts will now be installed on all you see hsn shuttle buses following that fatal crash happened last week. the goal is to alpha the entire fleet with seatbelts in kevin mack died last week after a shuttle bus got into an accident with a big rig. vigil

would be packed. >>> a woman or wall street taking on the old boys, beal buggish. >> i made an issue out of it. >> making millions in the process. >>> and a nail-biting ride to the place where it is always independence day. all on "stories: reporter." >>> welcome. i'm tom foreman. at congresswoman gabrielle giffords continues her remarkable rov fri being shot in the head, attention is shifted to the man shooting her. the courts say gerald lee loughner is mentally incompetent and cannot be put on trial until successfully treated. it is raising a specter that long troubled americans. the idea that the insanity defense were be easily used to get violent criminals off the books, but is that true? jim acosta picks up the story. >> reporter: you are entering a world few will ever see in person. inside of a mental institution that houses criminally insane patients. this is st. elizabeths hospital in washington, d.c. as captured in a remarkable movie shot last year by the patients themselves. one of them is louis eckerd, he beat and strangled to

dodd-frank was created -- and industry for wall street lawyers and special interests. it has turned financial regulatory landscape into a nightmare. geithner claims republicans are blocking nominations of reform. senate republicans have been clear the structure of the bureau needs to be properly reformed before we consider any nominees. we urged president obama to adopt three specific reforms. establish a board of directors to oversee the bureau. diversify the leadership of this and tested fledgling bureaucracy would ensure the consideration in the bureau's decisionmaking process. secondly subject the bureau to the appropriations process to ensure the bureau has effective oversight and does not engage in less wasteful inappropriate spending. establish a safety and soundness check for the prudential regulators. one of the best consumer protections is a safe and sound bank. i believe the most disturbing claim by the secretary is republicans form, quote, forces of opposition to reform. this statement reflects the view that anyone who doesn't support their idea of reform m

three years ago a two year old little girl in florida died also three years ago crooks on wall street swindled the middle class of america out of seventeen trillion dollars and plunged our nation into a great depression today one of those crimes is now resolved while the other is still festering as an eighteen wound in the side of our american legal justice and legal justice system yesterday casey anthony the mother of that little two year old girl caylee who guide three years ago was found not guilty by a jury of her peers closing the book on a three year long saga that's gripped america here's some of the reactions of people around the country to the verdict. i'm shocked and i'm absolutely shocked. personally i think the whole family is guilty if. i think she got away with it at least. manslaughter yes murder i can't be sure that's a pretty harsh crime it's crazy and i paid them when a does being a mother you know inhabit it and never went down there i don't think any mother around here really wants you know they're going to be in a different state of mind if you lose your theater s

. >>> waiting for the opening bell on wall street, four minutes away and stock future negative, once against this morning as lawmakers remain at odds at how to avoid the default. the dow fell down to 12,501 and the nasdaq was off three. some of the market headlines, at a commerce department releasing durable goods order, they are aircraft and autos and they dropped for the second month in a row and the federal reserving will unveil a look at the economy. the survey prepared for the next bank's meeting. everyone waiting for ipo of dunkin donuts and it is 19 dollars a share above the forecast and the stock will trade as dnka for the ticker symbol and hoping to expand in the west. >>> and amazon.com earned $191 million in the second quarter of april through may and up 51% from a year before. >>> a time of the evolving times now ford is planning to start introducing all of its new cars with no cd slots. the company instead is going to give you the usb connection because cd sales are falling and they are offering these versions first in the ford focus without the cd players starting next

when we return, we will bask in the brilliance of mitch mcconnell with wall street journal congressional correspondent, naftali bendavid. is [cheers and applause] >> stephen: welcome back, everybody. folks, before the break -- before the break, i was congratulating congressional republicans on the way they cunningly used the debt ceiling negotiations to trick barack obama into getting what he wanted. here to tell us how the on-going negotiations are going on is wall street journal congressional correspondent, neftali bendavid. thank you so much for joining us today. i read your publication today. they had an editorial in there saying this is kind of a smart move for mcconnell to make given the situation. what is the reaction been in the republican party to what mcconnell has done? is everybody as excited as i am? >> plenty of republicans are very, very unhappy about this. the conservative blogo sphere lit up -- >> stephen: i tried to good on red state and my computer exploded. >> they called him a weasel and upon theous and other things you could think of. the house republican leadership

from the wall street naftali bendavi [cheers and applause] >> stephen: welcome back, everybody. my guest tonight is a world famous historian who has written a new book about americans in paris. if it's anything like my experience there it's about having your -- if it's anything like my experience there, it's about having your siouxie and the banshees cassettes stolen from your backpack out of the youth hostel. please welcome david mccullough. [cheers and applause] good to see you. please. good to have you. what an honor to meet you, sir. >> a wonderful chance to be with you, thank you. >> stephen: i have to say, obviously i admire your writing and collarship but the look. you have really got that wise old man thing down! >> the old man! >> stephen: i gotta get that look. unfortunately i am cursed with eternal youth and raven hair. [laughter] the new book is called "the greater journey: americans in paris." now this is the 19th century americans going to paris. why would they go in the 19th century? >> almost all the people i have read about were young americans of talent ambitio

journal i think is just to kind of find a way out as but then again the wall street journal has found a way to thank scott free as they support regulations and their way to using cuts do you think that americans should start questioning at fox news or the wall street journal though let's say that it does come out and it is true that nine eleven victims that their phones were happened something that would strike a chord with a lot of americans but has the damage already been done are they already so in mash with fox news in the ratings that considering that it beats out every other cable network on television here. i hear that i'd like to take this out of an ideological spectrum because you know i think fox news well first i don't think fox news and news organization in many ways it's an adjunct to republican party that has become extraordinarily extremists but i care deeply about the public standards the ethics of churnalism in this country and independence and i do think murdoch and his empire have tried to wipe away all of that and fox becomes the embodiment but as you know one on a