"the wall street journal report." now maria bartiromo. >>> here's a look at what's making news as we head into a new week on wall street. u.s. economic growth slowed in the second quarter of the year. the government released the gross domestic product figures on friday which is the broadest measure of the size and strength of the u.s. economy. it shows growth slowed to an annual pace of 2.4%, the most sluggish showing in nearly a year. the move partly due to weaker spending by consumers. the dow broke a four-day winning streak on wednesday and fell again on thursday. the market's moves mostly following earnings news. most of that earnings news was pretty positive. corporate profits strong and exxon mobil, visa, merck ask dupont. fedex beat expectations as well and it upped its guidance for the rest of the year. the federal reserve survey of economic activity throughout the country showed growth slowed slightly or held stead ney most locations. the fed's beige book also showed labor conditions were slowly improving. enc

news program, "the wall street journal report." ow maria bartiromo. >>> as we head into a new week on wall street, general motors is setting the wheels in motion for its long-awaited initial public offering which could be one of the largest in american history. the company filed papers for its ipo this week, which would allow gm to become a public company again, rather than a ward of the state. it is mou profitable. the treasury department which owns 61% of the companies expected to sell enough shares after the ipo to bring its ownership to less than 50%. the ipo is expected to raise at least $10 billion. >>>. >>> the dow industrial broke its losing streak rising triple digits, but it was hammered again on disappointing economic news. the dow fell again on friday. chip maker intel acquiring mcafee for more than $7 billion, and bhp billiton, the mining company, is making a hostile bid for potash for $39 billion. that's a bet that demand for fertilizer will rise in developing countries. >>> we're at the tail end of earnings season wit

appreciate it very much, jim and michelle. >> thanks. >> thank you. >>> coming up next on "the wall street journal report," the online shoe store where customer service is more important to the bottom line than sales figures. the ceo of zappos.com and is opportunity coming to a street where you live? a look at the ten best cities for the next ten years and you'll be surprised at which ones made the list. as we go to the break, a look at how the stock market ended the week. >>> does going to work make you happy? one innovative ceo says his employees should be as content as his customers and together they can drive profits up. online shoe retailer zappos.com sells thousands of shoes and maria spoke to the man with the mission of delivering happiness. tony shea, ceo of online retailer zappos.com, abauthor of delivering happiness, a path to profits, passion and purpose. so nice to have you on the program. welcome. >> thanks for having me. >> zappos was purchased by amazon.com last year for just over $1 billion. that's the state of the online consumer market today from your standpoint. >> i don't know

the "wall street journal" had 60. put together a little page about all the different trackers on the journal's site, as well. host: donna joins us from michigan on the democratic line. caller: thank you, julie, thank you for the information you've given us. i compare this to opening up our mail. it's against the law. the right of privacy in the constitution, i don't get where these companies have the right to look into our privacy. it's like looking into our files. people make payments on line with medicals, and i don't understand how they're intruding in our privacy when it's against the constitution. we've got it in our constitution. another thing, with them -- i don't see how we don't have something set up that if somebody goes into your computer, then they should let you know, that way you can check into it and see who is looking up your information against your will. the bottom line, we've got the government doing surveillance on us. we've got corporations doing basically the same thing. where is the constitution

news program "the wall street journal report." now, maria bartiromo. >> making news as we head on into a new week on wall street, investors watched and listened closely on friday to a major speech by federal reserve chairman ben bernanke on the state of the economy. mr. bernanke said that the feds' open market economiy is prepared to provide more monetary stimulus if necessary if the economy deters rates significantly from mere but he questioned whether the benefits of more stimulus outweigh the costs. the economy grew at a much slower pace this spring than previously estimated. the commerce department revised its estimate of the gross dopesque product for the second quarter. it showed the economy expanded at an annualized rate of 1.6% between april and june. that's down from an initial expectation of 2.4%. but that is still not as bad as some economists were looking for. the markets fell to their lowest level in seven weeks on tuesday. closed below 10,000 on thursday for the first time since july 6th. but the dow rebounded on frid

"the wall street journal," we will begin with that. credit card rates, levels hit nine-year high as new rules limiting penalty fees prompt new rise. the of that story in "the wall street journal" is another economic story about the situation in many states. facing budget gaps, city's self parking, airports, and zoos. that is a story in "the wall street journal" if you want to read more about that. "usa today" as a front-page story about children and katrina. children still can't get past katrina. the study found there is emotional pain for thousands. we are covering a hearing today. go to c-span.org for when it will air. but it is a panel looking at children and disasters. it is 2010 report to congress. the fema director will be there. this morning, a little bit more about the states. here is a piece in the opinion section of "the wall street journal" about how states hide their budget deficits, if you are interested in that story line. that is inside "the wall street journal." also paul krugman writes opinion piece in "the new york tim

now with the federal reserve and wall street having their doubts, according to a new nbc news "wall street journal" poll, american people are sharing those same suspicions. nbc news kristen dahlgren joins us live now from washington, d.c. with more. kristen, good morning. >> reporter: hey, good morning to you, lynn. yeah, july now marks the eighth straight month that the number of foreclosures has increased over last year. couple that with unemployment, and a lot of americans are beginning to feel like we haven't yet hit bottom. in prince georges county, maryland, 3,000 would-be firefighters fought over just 94 jobs. >> we had to split off the testing process over two days, inviting 750 people to each written test period. >> reporter: across the country in los angeles, job fair attendees faired about the same. >> most employers are still laying off jobs -- laying off their employees. >> reporter: for many, economic woes continue to hit home. the number of homes lost to foreclosure surged again in july as lenders took back almost 93,000 properties, up 9% from june. >> i think that a lot of people a

according to the wall street journal the master suite is also bombproof their 44 security cameras in the gas tank costs half a million dollars to fill. on land everybody has an opinion about its unique design. >> it's very exciting because it represents millions and millions of dollars. >> it's a spaceship on top of a spaceship. >> i would die to go on it. >> kate thompson kron 4 news. >> at quick check on traffic and sunny pretty afternoon on the golden gate bridge where traffic is moving pretty well in both directions. my mercury moment happend right after our wedding, when i realized that along with all the gifts that i'd be getting a lot my husband's old stuff. fortunately, i got his mercury insurance too. mercury had better coverage, better service and and we saved hundreds of dollars by combining our home and auto insurance policies. and he got miss pookie. see, everyone wins. insure your auto and home (together) and save up to 15%. get a quote and see for yourself at mercuryinsurance.com. k you for calling my name is...peggy. what usis problem, please? peggy? sure...well... su

. -- "wall street journal"spoke -- saturday's wall street journal has this column about someone pickingive of their favorite books to read in -- to read. in your case, the five best were who showed the best statesmanship in the white house. i want to go down the list as to why you would recommend these. how does this work? who invites you to do the five best? >> i cannot remember if it was an e-mail or a phone call from someone at the wall street journal. dorothy -- dorothy rabinowitz. she had read my book, or at least seen it. she wanted me to do one of these lists. it was not clear what kind of list it would be. i asked if she could give me 45 minutes to think about this. i got back in touch with her and told i could give her the top five books on eisenhower or i could give her the top five books on presidents and foreign policy. she said that was a good idea. i chose five books that demonstrate how presidents conduct foreign policy. >> the first one on your list is "hands-off." it is by dexter perkins. it goes back to 1941. i assume you have read this already. you said it was a grace

the sentiment was reflected not only in what happened on wall street today, but also in a telling new nbc wall street journal poll out tonight and in a compelling moment near atlanta where thousands of people, many unemployed, overwhelmed a shopping plaza today, desperate for housing assistance. our coverage begins with nbc's ron mott. >> everybody's reaching, trying to grab a piece of paper. >> reporter: in metro atlanta today, the tough economy literally hit home, as thousands lined up in stifling heat simply to get on the waiting list for federally subsidized public housing. >> this is a blessing for those that are going through hard times financially. they're losing their homes, you know. their income is being shattered. so this is really a blessing. >> reporter: a blessing that came with dozens of medical emergencies and an aggressive police presence. >> people are passing out. the ambulances are everywhere. they're giving out water. i mean, it's crazy. >> reporter: despite the chaos, one official hailed it a success, saying 13,000 applications were distributed over a few hours. >> the last time the hou

cnbc, all them people every day sit up and bash the president just like the "wall street journal," foreign-owned "wall street journal" and bash the president and they said point blank they're waiting for change. they're waiting for the republicans. so that guy that called in earlier that was talking about how things, the economy is going to stay stagnant until republicans are put back in office has a good point. now, miss, i have a question for you. i want to know, and please don't give me the standard answer about big business is scared, they don't know about what the regulations are going to do and they're not sure. i want you to tell me the real reason why big business corporate america is holding back and trying not to help this economy. the dow can't even get over 10,000. guest: well, let me come back to something that we were talking about earlier in terms of small businesses and the stimulus. in addition to there being some of the contracts set aside for them and there's also a very interesting lending provision that is being administered and we've seen loans go to a lot of small business

also the front page of "the wall street journal" has this had line. birmingham, michigan, mike on the republican line. which issue will impact your vote in november? caller: yes, it well. i want to thank c-span for what you are doing. as a republican, i am very much disappointed how much -- the things the republicans are doing. you can't vote against extending my on and on the benefits and then both -- vote for the continued tax reduction for the 2 percent of the rich. i think i will have to go with the democrats this time because the republicans have turned into a party of no, no solutions for anything. just hating, hating. it doesn't do anything. i was just talking to my son -- he is happy because of that attitude is that, you know, he is 24 and now he's got a couple of years of extended health benefits. i just think the republicans are not doing anything for the people and they are just raising sand and coming out of any type of solution. host: we will go to barbara, kansas city, democratic line. caller: good morning. i was calling to comment on yo

and the wall street journal reports that top u.s. investors are bracing themselves for a painful period of japanese style the flay sion the worry is that the economy will freeze as people wait for price cuts before buying anything or later most kaiser explains the u.s. has dropped itself into a deep financial pit the financial system is broke in its coal lapsed died so it's a walking zombie they call the japan the zombie economy because japanese banks zombie banks now in america designed the economies of dead zombie banks citi group is a zombie bank the start was just used as a whipping post a whipping boy for enshrines to manipulate up and down twenty five cents one day and down twenty five cents the next day pure inside information pure market manipulation going or bernanke and the head of citigroup. they're involved in a wholesale market operation every single day the lord nobody doubts that. max and stacey are here in just fifteen minutes. now of all the places that you'd expect to find american style diners or glossy provocative

"the wall street journal" is feeling more triumphant than the white house feels. you have a democratic iraq and then a domino effect throughout the rest of the middle east. that certainly hasn't happened. jordan in some ways is a author auth authoritarian country than it was. there are big questions about the political future of iraq. >> i'll make that the last word. a lot to debate. thank you all very much. we'll leave it there we'll be right back with >> this is all for today. brian williams will be here for a special edition of "meet the press" live from new orleans on the fifth anniversary of hurricane katrina. an everyday moment can turn romantic at a moment's notice. and when it does, men with erectile dysfunction can be more confident... in their ability to be ready with cialis. with two clinically proven dosing options, you can choose the moment that's right for you... ... and your partner. 36-hour cialis and cialis for daily use. cialis for daily use is a low-dose tablet... you take every day, so you can be ready anytime the moment's right. day or night.

our task in this was in the wall street journal just a couple weeks ago can only raise between eighty and ninety percent of g.d.p. if we're going to spend twenty six percent and raise about eighteen nineteen percent we're going to have a large deficit if we brought that spending to the historical levels to twenty percent we'd have sustainable deficit levels however washington is going to if they persist push for twenty six percent they are going to go for for higher taxes and it's not the tax on the rich cannot pay you cannot fill that gap that's why we're hearing talks of tax that's why the push for those that is coming soon ok if i go back to you benjamin i mean can we just apply a means test i mean if we need more money to pay off these deficits the rich have lost obviously have more money to be taxed i mean there's a certain point where you know there how do you tax unemployed people i mean there's the number of people that have been hit by this massive recession they're not going to be able to help us out very much through the tax base i mean what is fair for everybody. well i ag

a republican strategist working side-by-side in conducting this survey for nb news and "the wall street journal". do you trust the "the wall street journal"? caller: i do trust them, but nbc news has their name on it first. host: i just wanted to get those facts out there so you understand. do you have a final point? caller: absolutely. i watched mark murray on msnbc and i watch chuck todd, and it is laughable the way they report the news. i would like the audience to listen closely to how they report the news and what they neglect to report. it is not only what the report and this been a put on it, but what they neglected to report and how they choose not to report things that could be or would probably be damaging to this particular administration. guest: steve, i appreciate you're pointing out that a republican is part of the poll. there are a lot of people in the political community, the nbc-"the wall street journal" poll, one of the gold standards. the view or ended up making a point, and there are some people who talk about msnbc because of keith olbermann, that they are a liberal-leaning

host: there is a story today in the "wall street journal." guest: and i think that is exactly what we are talking about, trying to get incentive payments to put somebody into a higher across home when they could have afforded -- into a higher-cost home when they could have afforded something else. i think that needs to change. the customer needs to know what the -- needs to know the product they are getting. these are roles that were being undertaken outside of the deal that was just passed. these are things that the regulators have been the key about for some time. host: yes, these are new rules that have come out from the federal reserve separate from the legislation pitiful also said on monday, -- why wasn't this information given before? why would it take a role for banks to let customers know that their loan is about to change? guest: there were a lot of disclosures and the question is, what was really understood by the borrower? go back a couple of years and think about the mind-set of some one who was interested in the two-year adjusta

"the wall street journal" says report card for cards. it would rate fuel economy and emissions. government veers into issuing opinions. report card for the latest green card. that is "the wall street journal." journal." the front page has a story about climate panel facing heat. investigation calls for fundamental reform at all and a group on global warming. below that, the story about the money members of congress get for travel. the story, a follow-up to a story that they did recently. it says the congressional investigators are questioning a half-dozen lawmakers for possibly misspending government funds meant to pay for overseas travel. university park, illinois. robb on the democratic line. we have been talking about expectations for iraq. what are yours? caller: good morning, greta. i really don't have really high hopes for iraq. if we had not gone into and invaded iraq under nefarious reasons, i believe it might have been a positive outcome. host: ok. anything else to add? caller: they keep talking about the surge is working, we invaded a country the size of one of our stat

here is the headline in "the wall street journal." wall street journal."

"the wall street journal" said that ozawa's bid could mean more turmoil for the dysfunctional political system he spent years pledging to fix. he added that the move could further undermine japan's ability to address it's deepening economic problems. the paper said ozawa in recent years has upset americans with his blunt talk. the paper was referring to his comment on wednesday, that he likes americans, but finds them rather simple-minded. it also cited ozawa's remarks last year that the u.s. navy's seventh fleet would be the only u.s. military presence needed in japan in the future. >> tokyo police arrested two women for fraudulently receiving national pension funds. the two are the eldest daughter and granddaughter of a man who died more than 30 years ago, but was registered as still being alive. the police found the mummified body of sogen kato at his family's home in tokyo last month. he would have been 111 years old. a total of around $100,000 in widower benefits have been paid to kato after his wife, a former teacher, died six years ago. the police say his 81-year-old daughter and

"the wall street journal" editorial calling for him to resign. that is "the wall street journal " " this morning with their opinion. and "usa today, also, that editorial on blagojevich saying the verdict is no exoneration. the opposing view for this is blagojevich and his lawyers, experts -- exurbs from responses to the verdict. they did not respond to requests from the paper to give their opposing view. the democratic line. good morning. what do you think of this last combat troops leaving iraq? caller: i am so excited, truly and. i really do not want to put this on a party affiliation. my heart goes out for the pullout. but we've got to think about how many troops we lost over there. we should be celebrating the fact that we are finally coming out of there and we did not have to lose any more troops. yes, i understand there are troops left behind but hopefully they are just in a situation where there will not be lives lost. we just have to got to stop this party affiliation stuff and looked at the real picture. thank god we are not going to lose

i love the line of morningstar i love this this week i love vacs i love wall street journal. i have to get that one and. as far as the source yellow is a lot of pressure based a lot of business wire type of information. >> 3 says that unlike the u.s. or china investment can i invest in australia? >> that's a great question you actually can. there stilt single lane highways they have that china exposure they have no major national debt like we do cure the china exposure means they get tourists come to them but they also supply some of their valuable commodities to china. i like them for those want to by australia that it's up about 15% this year up about a hundred percent last 10 years which is in great compared to our markets in so shabby. i like australia as a long-term pay investor 85 to 10 to 15 percent of your money. >> i don't think it like being called us 15 years ago. >> i know it's cute to. >> adrian is writing to say what you think about financial coaches? >> not much. i'd be very cautious on that. there's a lot of people out there they look at the robert model which

several passengers told the wall street journal that slater deserved to be arrested. they say he had been drinking during the entire 90 minute flight and swearing at other passengers that were not doing anything wrong. >>> today the state senate will honor two chp officers for a dramatic water rescue in walnut creek last april. the officer and pilot were flying in a chp helicopter when they got a rescue call. a car filled with three people inside crashed and fallen into this water way. 74-year-old janet hogan was plucked from that rushing water to safety. the other two members of her family who were in the car died. >>> 5:36 is the time right now. sal is checking highway 4 bay point. what's going on there? >> we're seeing traffic get busier on westbound highway 4 and throughout contra costa county. the contra costa county commute usually begins early. and this morning is no exception. heading westbound it looks pretty good so far more cars joining the road and we'll have stop and go traffic before too long. here in bay point looks okay. if you are on 24 through lafaye

my workplace, there are more eyeballs every time "the new york times" and "the wall street journal" combine over a 24 hour time period. you are biased as well. do not say that times are bad. i hear that around the world. russia, bangladesh. do you? >> radical web sites supporting puppets. >> let's address diversity. a thank-you. he mentioned, i guess, paraphrasing, there's not much diversity in the local media. sandy, what would you like to say about -- maybe i should ask one of the professors. our people caller coming into journalism as frequently as you would like to see? >> we do a census every year, the association of news editors , and pretty much what they have found is that the numbers of minorities is still flat. even with a large exodus of people out of the business, there has not been much growth, about 12%. by no means is that there and i think even in my own experiences in this room, it can be very difficult to change the culture of thinking about stories that involve minorities. >> jeanne? did you want to add anything? >> there is a study put out every year by ball state univer

several passengers tell the wall street journal that he deserved to be arrested. they say he had been drinking during the entire 90 minute flight and swearing at other passengers who weren't doing anything wrong. >>> san francisco muni cracking down on fare cheaters on buses today. the new enforcement started tuesday on city trains. the program returns from a 90 daybreak which they used to retrain officers. any passenger caught without a transfer could face a fine of $75. >>> all right. your time is now 6:38. sal still says we've got problems in san jose right? >> that's right. northbound 101 we've had a problem now for an hour. we've had a crash on the shoulder and then another crash in the back up and 101 continues to be backed up. it's very slow. it has been this way for about an hour now and it just keeps getting worse. this is going to have a big delay on 101 coming out of 280. let's go to 237 which is still pretty good. so the rest of the drive getting into sunny vail and a lot of people need to be in sunny vale and mountain view for the jobs in the valley.

that's from the wall street journal. host: texas, democrats. caller: i think the taxpayers and military lost nine years ago. i think they are winning big. there's been an extra winner in iran from all of the devastation from iran and afghanistan. i think it is already over. host: utah, is the war winnable? caller: it has to be unless we want to all be converting to is rahm there's no other option. christians keep radical christians in check. we have to take extreme measures. host: rhode island on the republican line. your thoughts caller: i think any war we engage in is winnable we need to take the politics out of were. the rules of n gaugement for troops of two weeks if we win it more heavy handed, we could have achieved. the war would be this for years and years and years. china reports to be reloted >> the soft power approach to world affairs. looking for more of that to come out. host: writing out of jerusalem that israel plans to buy 20, u.s. built, radar evading fighter jets built by lockheed martin. attacking after the u.s. military pull

wall street. it does not seem like there is any hope for a regular person in the united states. host: in "the wall street journal" this morning -- host: princeton, indiana, bill, democratic line, go ahead. caller: one man said that it did not take a rocket scientist to figure this out, and he is right. i will tell you what has happened, it is the people and business economists who have come out, the accountants come out, looking to make an extra time. -- dime. not even thinking about the people that it affects. cliit affects several communities, not just one community. evansville is not far from me, they have a whirlpool factory there that employs several thousand people at one time, and now it has gone to mexico just because of greed. it is all about greed. everyone gives the union a bad time, but the unions give people a living wage. a living wage is now not even close to what they should be. host: thank you for the call. we have a twitter message here from boring file clerk. host: i am "the houston chronicle," the new story -- host: akron, ohio, you are on. caller: i just wanted to say that i think it is impo

don once again for the kaiser report i'm max kaiser and the wall street journal confirmed what we've been saying on this show for months that the flay ssion is the bogeyman yes credit collapse and money supply is throwing the world into a deflationary spiral and now the question is what's next but let's talk a little bit more about some zombies and some vampires and some walking dead people stacey herbert stacey herbert talk to us about what's going on out there well max you mentioned deflation and of course japan is the deflationary king they've had a lost decade which has gone on now for about twenty one years first headline is from there tokyo's oldest man had been dead for thirty years.

told the "wall street journal" b.h.p. has to pay "big boy prices." shares of p-o-t were in demand. this is a 90-day chart. the stock jumped well above b.h.p.'s offer to close at $143 and change. the stock did eight times its usual volume. the rally easily takes the stock to a new 52-week high. this is a three year chart. the stock's all time high was $230 per share, hit back during the commodity boom in 2008. the play does put the sector on notice again for possible deals. mosaic, agrium and c.f. industries all rallied on heavy volume. just three months ago, c.f. beat out agrium to buy a competing fertilizer maker. two other deals. one for hefty trash sacks, the other in health care. hefty maker pactiv will go private. reynolds group, maker of reynolds wrap, will pay $33.25 per share. the last time pactiv shareholders saw that kind of price was in 2007. in health care, device maker medtronic rallied after announcing its purchase of osteotech. it makes tissue used in transplant operations. the price? $6.50 per share. leading the dow gainers today was home depot. investors giving it

"wall street journal." even tried to get her to run for political office she said, why would i do that? when i could do so much more as the head of the brood moore improvement association. or keynote speaker, big round of applause to latoya cantrell. [applause] >> thank you all. thank you very much it really is an honor and a privilege to be with you today among neighbors. i feel right at home because it's nothing better than grass-roots. i think that's what we all represent here today our neighborhoods our communities and that's really what makes all the difference. i do want to thank mayor newsom, as he mentioned we have a strong partnership with the city of san francisco. i'm telling you the city officials have been down for about 3 times now. have helped us form a partnership also with other entities within the city like dig tus media inc. and plan ready, they have come in and purchases lawn equipment to help us maintain lawns and help people come home and bring them home. looking out and seeing ed lee

according to wall street journal the master suite is also bombproof of their 44 security cameras in thek cost half a million dollars to fill. on land everybody has an opinion about its unique design trade >> it's very exciting it represents trillions in billions of dollars. >> it's a spaceship on top of the spaceship on top of a spaceship. >> it's pretty, i would die to go on it. >> reporting kate thompson kron 4 news. >> one of his rollercoaster of a up and down temperatures. today it's down to more to be up again upper 80s for inland spots low seventies for the bay shore will still be single 60s along the coastline where sun is expected to pop out in the afternoon appeared to cool down and friday and saturday temperatures will struggle to reach 80 inland on saturday. next week temperatures fall break back up to 89 degrees inland by monday. that's right about at an average of four what we should be for this time of year of the not temperatures dip below average for the extended forecast. >> looking at the spring shot from a rooftop terrace look at the blue skies. stay with us will be b

. >> some passengers tell "the wall street journal" that steven slater is actually the one to blame withonfrontation with the passenger. but slater's cult following is still growing fast. here andrea canning. >> reporter: he's the man everyone seems to be rooting for. >> some really great people out there, i'm getting a glimpse of that. it's a surprise because obviously i've been away for a little while. >> reporter: steven slater headed here to this manhattan apartment building directly from jail where he spent the past couple days. when he finally was let out, it was a whole new life for the flight attendant. and clearly, everyone has wanted a piece of him. >> it seems like something here has resonated with a few people. that's kind of nice. >> reporter: more than just a few, people from around the world have come to his defense after his tar black tirade. the flight attendant lost it after a rude passenger bumped him on the head. he started swearing on the intercom. and even activated the emergency absolute while travelers were getting off the plane. >> i thought about it. for 20 year

"the wall street journal" reports that ford is getting help to help to help boost its credit rating. >>> at the movies "inception in the three week run is now over. the comedy "the other guys" took over that spot. "inception" slipped to second. >>> when we come back this morning, the nfl preseason kickoff. >>> and president obama hits the court with the proverbial dream team we'v oprah: we decided to do what we do best and that is a show about and with everyday people. this show always allows people to understand the power they have to change their own lives. if there is one thread running through each show we do, it is the message that you are not alone. >>> and now, for a look at morning road conditions. the flooding on i-80 from chicago to des moines and on i-35 to northern iowa to bismarck. wet highways in the four corners and northern rockies. flooding on i-95 from daytona beach to miami. on the gulf coast. i-40 from little rock to memphis. >> if you are flying expect delays in denver and miami. >>> bp says by this time next week, its blonout well in the gulf will likely be fixe

the "wall street journal" obtained a memo from the chief operating officer.says no one has yet supported slater's version what triggered monday infamous incent. he had a confrontation, cursed out a passenger and exed via an emergency chute. several paengers have come forward saying slater was rude and actin erratically througut the flight. >> california democratic congresswoman maxine waters is defending heavy publicly over accusations of ethics violations. karen traverse reports from washington. >> accused by the house ethics committee of a classic conflict of interest, vetan california congressman maxi waters was adamant in her defense. >> i have not violated house rules, didn't influence anne and did not gain any benefit. >> she's been charged helping to eastern federal bailout moy for a bank her husband had a stake in. he's the secretary high-prole democrat this month to face ethics charges. charlie rangel is accused of 13 violations including failure to pay taxes and using his position on the powerful ways and means commtee to raise money. rangel also in

"markets swoon on fears," "wall street journal." "trouble abroad a worries for s. recovery," "new york times." and yes, some of those still read newspapers. on tuesday, the federal reserve announced it would buy treasury debt to shore up the economy, on wednesday, the dow dropped to moderate 65 points. the world's biggest -- dropped 265 point spread the world's biggest economy still needs help. more lousy news of the jobs front. according to the latest poll, 2/3 of the american people think the economy has yet to hit bottom. i hate to be crass about such bad news, mark, but should republicans take part? >> yes, republicans should take heart. predictions are today, as we meet here, but economists that unemployment will not drop -- by economists that em unemployment will not drop by next year to 8.5%. household spending is the most fearsome indicator, down 1.2%] from 2009. that is what drives our economy. that is the largest drop since 1942 in the middle of world war ii. it is not good news. >> charles? >> what happened is that the fed action, repurchasing debt, is a