goes flat and the wall street sector goes straight up. how did that happen it happened. because we we made it super profitable to work on wall street how do you believe the world should or can react to the information that you were disclosing it's not necessarily all you know but you're saying that it's escalating right i think for starters. step one is we've got to get rid of the tax breaks that they use they have hedge funds and private equity firms use this thing called carried interest where they can claim that their income is really capital gains which is now tax at twenty percent instead of the new rate of thirty nine point six i mean it's outrageous that they get a tax break why you are the richest people on earth getting a tax break why would a billionaire need a tax break and they're not even creating any jobs as far as i can tell so in fact they've destroyed a bunch of jobs so that's step one get rid of their tax base but step two is we need to find ways to suck the money out of the financial sector there's too much loose mo

goes flat and the wall street sector goes straight up. how that happened it happened because we we made it super profitable to work on wall street how do you believe the world should or can react to the information that disclosing it's not necessarily all you know but you're saying that it's escalating right i think for starters. step one is we've got to get rid of the tax breaks that they use they have hedge funds and private equity firms use this thing called carried interest where they can claim that their income is really capital gains which is now tax at twenty percent instead of the new rate of thirty nine point six i mean it's outrageous that they get a tax break why you are the richest people on earth getting a tax break why would a billionaire need a tax break and they're not even creating any jobs as far as i can tell so in fact they've destroyed a bunch of jobs so that's step one get rid of their tax base but step two is we need to find ways to suck the money out of the financial sector there's too much loose money floating

goes flat and the wall street's sector goes straight up. how did that happen it happened because we we made it super profitable to work on wall street how do you believe the world. should or can react to the information that they were disclosing it's not necessarily all you know but you're saying that it's escalating right i think for starters. step one is we've got to get rid of the tax breaks that they use they have hedge funds and private equity firms use this thing called carried interest where they can claim that their income is really capital gains which is now taxes at twenty percent instead of the new rate of thirty nine point six i mean it's outrageous that they get a tax break while you are the richest people on earth getting a tax break why would a billionaire need a tax break and they're not even creating any jobs as far as i can tell so in fact they destroyed a bunch of jobs so that's step one get rid of their tax base but step two is we need to find ways to suck the money out of the financial sector there's too mu

goes flat and the wall street's sector goes straight up. how did that happen it happened because we we made it super profitable to work on wall street how do you believe the world. should or can react to the information that disclosing it's not necessarily all you know but you're saying that it's escalating right i think for starters. step one is we've got to get rid of the tax breaks that they use they have hedge funds and private equity firms use this thing called carried interest where they can claim that their income is really capital gains which is now tax at twenty percent instead of the new rate of thirty nine point six i mean it's outrageous that they get a tax break why they are the richest people on earth getting a tax break why would a billionaire need a tax break and they're not even creating any jobs as far as i can tell so in fact they destroyed a bunch of jobs so that's step one get rid of their tax base but step two is we need to find ways to suck the money out of the financial sector there's too much loose money floatin

wall street and the housing sector are rebounding but job growth is stagnant, consumer confidence shaky. what's up with the economy? in washington, bipartisanship roars back. >> for the first time ever, there's more political risk in opposing immigration reform than in supporting it. >> the issue of immigration is not a simple one but i think we have the opportunity to do it right and -- gwen: will immigration reform finally happen? and chuck hague 's rocky confirmation hearing. >> please answer the question. were you correct or incorrect when you said that the surge would be the most dangerous foreign policy blunder since vietnam? yes or no? >> my reference to -- >> are you going to answer the question senator hagel? the question ask were you right or wrong? gwen: the president's pentagon choice finds hit -- his worst enemies in his own party. covering the week, david wessel of "the wall street journal." vaughn johnson of national joran. kirn tumulty of the national post and doyle mcmanus of the national times. >> award-winning reporting and nanls -- analysis, covering history as it ha

wall street and the housing sector are rebounding but job growth is stagnant, consumer confidence shaky. what's up with the economy? in washington, bipartisanship roars back. >> for the first time ever, there's more political risk in opposing immigration reform than in supporting it. >> the issue of immigration is not a simple one but i think we have the opportunity to do it right and -- gwen: will immigration reform finally happen? and chuck hague 's rocky confirmation hearing. >> please answer the question. were you correct or incorrect when you said that the surge would be the most dangerous foreign policy blunder since vietnam? yes or no? >> my reference to -- >> are you going to answer the question senator hagel? the question ask were you right or wrong? gwen: the president's pentagon choice finds hit -- his worst enemies in his own party. covering the week, david wessel of "the wall street journal." covering the week, david wessel of "the wall street journal." vaughn johnson of

public, okay, the populace once again thinks there's all this wrongdoing going on in wall street and the banking sector and that's what i find irresponsible. >> that's not what i've done. >> this wall street/main street fight all the time and there's never any evidence, brush stroke ideas that wall street is bad, and i have a problem with that. >> you have a problem. you're creating the problem. i'm not saying any of the things you just said. i said in the first place, and you don't listen, that there were ambiguities in the law, that we had to change the laws so that things that weren't right would be criminal going forward. i volunteered that. secondly, i am saying that there were some cases that i've read about of misrepresentation. i had no investigative powers. i had no investigatory staff. i wasn't subpoenaing these past activities, so, no, i did not have the ability or the responsibility to find those out. administrative agencies did, so, no, i have not said that there was massive criminality. on the other hand, i would disagree with what would seem to me that what you're arguing is no one ever

wall street analysts. leading the materials sector was cleaning services company eco- lab-- a strong earnings report helped, sending shares higher by 4.2%. that pushed the stock to an all- time high. a stock to watch tomorrow will be priceline.com, thanks to a very strong fourth quarr. results were significantly above a year ago, and well ahead of wall street estites. the travel web site saw particular strength from its international business. after finishing the regular session up 1%, shares gained another 3% in extended hours trading. three of the five most actively traded exchange traded products were higher. the s&p 500 volatility note and the leveraged volatility note each fell. and that's tonight's "market focus." jail time and play time. a for-profit prison operator's sponsorship of a college football stadium in florida is attracting plenty of attention, just not the kind the company probably had hoped for. and it could turn into an expensive black eye for investors. here's rick horrow with tonight's "beyond the scoreboard." >> reporter: two of the primary reasons companies put their names on sports

wall street journal" called who needs wall street was provocative and, essentially, talks about crowd funding, vis-a-vis the new jobs act which allows for much more freedom for companies to issue stock in the private sector as opposed to the public markets which are much more highly regulated. so what -- how would you balance that out? what could, what can you do if you issue in the private sector that you can't do in the public sector? >> yeah. well, first and foremost, thank you for inviting me on to your program. david: of course. >> look, the jobs act is a bill that's focused on improving capital access for american companies, especially start-ups and small businesses. it was a bill that sailed

the materials sector after failing to impress wall street with its fourth quarter earnings. shares fell 3.4% as volume almost tripled. it could be some profit taking behind the selling, as the stock was at an all time high earlier this week. f.m.c. makes insecticide and hydrogen peroxide. the company's business has been growing thanks to sales in latin america. it has been months in the making but a merger between u.s. airways and american airlines parent company a.m.r., may be getting close to take off, according to the wall street journal. the combination would create the world's largest airline. among the complications: american is in bankruptcy so it's creditors would take a large s test ke of antest test. both of them. four of the five most actively traded exchange traded funds were lower with the emerging markets fund losing 0.9%. the nasdaq 100 tracking fund squeaked out a small gain. and that's tonight's "market focus." >> tom: when the final international trade numbers for america are released tomorrow, it will likely show overseas sales of u.s. made goods last year

weighed on the materials sector after failing to impress wall street with its fourth quarter earnings. shares fell 3.4% as volume almost tripled. it could be some profit taking behind the selling, as the stock was at an all time high earlier this week. f.m.c. makes insecticide and hydrogen peroxide. the company's business has been growing thanks to sales in latin america. it has been months in the making but a merger between u.s. airways and american airlines parent company a.m.r., may be getting close to take off, according to the wall street journal. the combination would create the world's largest airline. among the complications: american is in bankruptcy so it's creditors would take a large stake of any combined company. u.s. airways stock was higher on the speculation, rising 3.8%. u.s. airways shareholders would likely get a minority stake if they merge with american airlines. stocks of other major air carriers rallied as well. delta air lines rose 2.7% to a new 52 week high. united continental gained 1.6% to within almost a dollar of a new yearly high. the possibility of onlin

there is a flood of fast money coming into the housing sector from wall street, and we have absurdlye rates on main street, and you put those together, and they are lifting the market rapidly right now, but it's not sustainable. when interest rates reverse and begin to normalize, the fast money will scatter as fast as it came in, and then i think the bubble will splatter because there won't be natural buyers left in the market as interest rates go up. >> but, isn't it -- i mean, isn't the point to stabilize the market so that it's on a more stable footing before we actually see rates rise all that much? that's why the fed has said they are going to keep rates in place until 2015. >> well, i don't know what the timing of this is. i just know it's absurd to take the mortgage rate on 30 years from 5.5 where it was in late 2008 to 3.3 where it was just recently. what that does is increase the buying power of someone who has a mortgage or who can spend $1,000 a month on a mortgage by 50%, from 225,000 to 300,000. it's created artificial demand, but we can't keep interest rates this low fo

as well as get on to wall street see what happened there they continued to edge lower you can see we've got to cold lines this monday and it's the energies and the material sectors really leading the declines which have advanced around six percent on average this year though as far as wall street is concerned it's been doing a six week rally so that is indeed the markets for today not all from us here are to get an interview with russia's ambassador to the un vitaly churkin don't go away. led mission free cretaceous free. for charges free arrangement free. three stooges free. cold free floating video for your media project free media. see a story. you think you understand it and then something else you hear or see some other part of it and realize everything is. welcome to the big picture. plumes. it's just so. i'm very pleased to introduce russia's envoy to the united nations with only choking back a trick and thank you very much for making yourself available for this interview thank you let me begin with iran russia is about to sit down yet again for talks with five other world powers on iran's nuclear program the negotiations are due at the end of february th

prosecutor turned white collar defense lawyer mary jo white and leaving for private sector sec official is going easy on wall street they might want to work there some day. sec spokesman told researchers matters are decided on their merits. and and while they were this office, the more success they had when they moved to the private sector. but this study looks at regulatory issues and particularly former chairwoman mary shapiro's failed effort to regulate money market mutual fund. host of former sec officials lby against the proposal behalf of the mutual fund industry. had it come to a vet, maurice aguilar. nonetheless the study is adding to the debate. can you read the study, the competing study, academic study out last year and all 2,000 disclosure letters. we put them all on our website, cnbc.com. >> does anyone have any commentary on how to stop the resolving door and get people to stay. >> the key they say is disclosure. more transparency of the process. they have to go through a great deal of effort, the information act, to get the disclosure letters spop they want it to be at least more transparent. >> righ

wall street interests. why not close the loopholes, what is wrong with that. >> i advocate a flat tax but the private sector is productive. they create jobs. union jobs compared to them. they create wealth. a tremendous amount of wealth. they create havoc if for themselves and investors. government unions create nothing. >> eric: we have to leave it there. coming up the government dialing up mixed signals as d.c. sheld shipments out free money for phones. and navy hero that saved us from bin laden is make ends meet. and did these protestors tied to the white house gate tie us all at the pump? this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur >>. >>> i'm arthel nevil. vatican now says voting to elect the next pope could start earlier than thought. requiring a 15-20 day waiting period after the papacy becomes vacant. the rule is in place to allow cardinals to

but according to a new report according to the sec and "wall street journal" a large number of those not qualified. joining me now communication sectorerican crosswords -- crossroads. not eligible i mean 41 percent, nearly half getting free bones should not have gotten them. >> the lead was barry three-quarters down there was of quote from jankowski that said it was formed in 1984 and has not been updated and was assigned for rotary dial phones and it was a blanket apply to and did not think they had to modernize it had a very different meaning in 1984. gerri: i know what people would say, this is a terrific misuse of dollars but we have always been given help to people for phone service emergencies, i get a job, talked your family, is that wrong? >> no. now they can modernize its to buy it by the minute they just took the old policy with the new system expecting it would work now we waste $2 million per year with fraud. look at food stamp program we had 15 percent of june. gerri: we will get to that in a minute. but look at the typical cell phone bill federal universal surcharge comment that is the lifeline program, $1.15 each month

towards wall street, but at the same time tarp and all that, but at the same time, they approached these issues with a wall street men allity. >> tim geithner never had a job in the private sector except for a brief period-- . >> rose: but tim, for all -- >> ben bernanke never had a job in the private sector. >> rose: one taught at princeton and one was chairman of the new york fed but at the same time works did they deal with and who were the people that have most of their -- >> i think in retrospect there may have been a few things you could have done differently to extract more sacrifice out of wall street in terms of, for example, how much stock the government took in return for its loans. i have talked to hank paulson about it, i know why he thought about it the way he did. i'm not here to criticize him. i know what it is like to make those decisions. i they they are demargin, those guys were prisoners of the system in which it was so interlocked and intertwined that unless they did the things they did it would have been much worse for middle america because it would have brought down the whole economy with them. >> rose: to make a headline here, once again, the sequester,

banking sector and ceo, jamie dimon, is known as one of wall street's most numbers-obsessed ceos.. we want to know. melissa frances is traveling jamie dimon in austin, texas. in the exclusive interview. what does he think about? and dying to know? >> reporter: you're right. he is obsessed with numbers, but he's on the road on the bus out meeting the troops, put on cowboy boots, a cowboy belt, and he is a rallying, which is a little tougher job than usual. earlier at the weekend investor conference tootalk aaout how they were going to be cutting back staff and 19,000 people, 4,000 princes like this one. this disease and as they add another hundred every year. they're still cutting back. interesting to see where they're going. you know, mobile banking, more online banking, how the business model is changing when we will be talking a lot about that in the business. proprietary data. a really got my attention was a spending trends 11% increase in spending for the most recent week that they collected data. this is versus a year ago. that's a huge bump. lodging 11%. our rental, 17. airl

the free market allow pro prosperity to k out in the private sector, we hardly have a free market left, we bailed out autos, and wall street, medical, education, emergency are call heavily impacted and manipulated by government, fiscal rectitude we cannot mention that. and sound money, he would be appalled to see the kind of reckless wild almost lunatic money prints that is going on by the fed today, especially it was done by republican appointees. high thought greenspan was a solid conservative gold standard man, high turned out to be the biggest money printer to occupy federal reserve, then republicans appointed bernanke who is an out and out keynesian, and has monetized trillions of the debt, ronald reagan was opposed to all of, that here we are 30 years later, this is where it has done, not only because of the democrats that is why i'm upset, because the republicans have taken us down this path. charles: interesting because, ronald reagan worked with volcker. at the time he of a question mark to his policies, but do you think one essential thing that that changed is the inability of americans to accept any form of pain

sector economy. we have seen wall street greed, now government greed. never enough taxes, never enough spending.doing very well in the president's economy. that's washington, d.c. we as the republican party need to be about energy reform, education reform, about simplifying the tax code, taking out loopholes and special breaks. yes, we need to be consistent with principles, but we need to show how principles are aspirational and how they help people join and thrive in the middle class. >> the president talked about lurching from manufactured crisis to manufactured crisis. you get to be executive in baton rouge and keep some of the washington mess off of you, but when does standing for something mean obstructionism? the folks watching at home are so hungry to see cooperation and progress? >> look, the president has an opportunity to lead. for example, on sequestration. talking about less than 3% of the federal government, what they spend every year, certainly a prioritized list of cuts. he just got a $600 billion plus tax increase. if we don't need to increase taxes on the american people, get ri

how on earth are you supposed to pick stocks for the long haul when sectors are constantly going in and out of style in the wall streetashion show? how do you buy something to rack up multiyear gains when that is not the way this game is working anymore. there are very few stocks you can keep on riding higher and higher, year after year, but when you find them, they're the holy grail of investing. and those don't go in and out of vogue to stick with the fashion show analogy. all right. like i told you before, there's no such thing as the stock you can own forever. that's the essence of the kind of buy and hold thinking that lost so many people such huge sums of money over the years. but some winners are more lasting than others. and there is a certain kind of stock that can produce incredible multiyear gains. they can be owned longer than ordinary stocks. i'm talking about what is known as secular growth stocks. that is a rare breed that you should always be on the lookout for. these companies are driven by powerful long term stories that transcend the strength or weakness of the underlying economy. most companies nee

wall street. colleagues i was just following orders you know. i mean he was incompetent maybe he was incompetent in the private sector and so he is qualified to bring that incompetence to the public sector. much your requirement remember i mean we are as a nation in worse financial shape then those banks were is just it's just that we have a pretty impressive the banks didn't so we're able to paper it over for a while longer peter another criticism president obama. last year he during his campaign he was. kind of criticizing offshore accounts but it's reported that lou has one of these accounts in the cayman islands this is a critical well you know hypocrisy again is one of the requirements for the job of the they're all hypocrites in washington just about just about everything they say look at look at president obama's favorite billionaire warren buffett is always talking about how he wants to pay lower taxes and he's suing the iris to reduces taxes and he's doing everything he can to minimize those taxes so they always say one thing publicly but they do the opposite privately right we have about a minute left i want to ask you what are your thoug

it is a bearish day on wall street as traders take cover in traditional safe haven sectors and treasuryon lows the dow is still holding onto an 80-point loss. >>> meanwhile there is some good news in the housing market as consumer sentiment rose in january. according to fannie mae's national housing survey more people believe now is a good time to sell a home. 41% brief home prices will go up in the next 12 months. >>> according to challenger, gray & christmas the turnover of chief executives dropped 10% from the same time last year the outplacement firm says there were 113 ceo changes last month compared to the 126 in january 2011. health care products and hospitals saw the heaviest turnover in the last month. that's the latest from the fox business network, giving you the power to prosper melissa: a potentially historic blizzard is being forecast in the northeast tomorrow. with a rainstorm in the west today it looks like the country is in for a travel nightmare this weekend. just how bad is it going to be? let's head to the weather center and fox's rick reichmuth. i'm supposed to go t