i know the circles you roll, weiss.you chanos in the book, a great thing to happen. >> great insight. >> cortes, what do you think about the pieces chanos lays out. the flip side i've heard from others, even if you have a collapse of the property market, bubble bursts there, china can still deal with it from a standpoint because other parts of their economy are performing so well. >> scott, we heard a lot of that in the united states in 2007 as i recall that subprime was going to be limited, real estate limited. that certainly didn't happen here. i do not believe it's going to happen in china. one near-term reason that tells me, backs my view, the fact china just cut interest rates, all china bulls tell us as soon as they do that we'll see it roar again. instead they have sold off to another five-month low. china wealthy people are getting their money out of china as fast as they can. i would tell any investors out there, you should, too. >> look, we'll see how it shakes out, what growth ultimately is for this year and

weiss, anything else to add? >> looks like mr. woodhill. go-ahead. >> if i may. what commercially reasonable means as a matter of law has been the subject of lawsuits? two of them were settled for 1 hundred cents on the dollar just as soon as the bank saw what the judge had to say in denial of preliminary motion for preliminary finding for the defendant. one was actually won so far by the bank. one was actually won by the victim. the consensus at the big security conference this past frank, the consensus among cyberlaw experts is given the new guidance, going forward, will be found currently to mean that the banks are liable. our victims' group has deep concerns about making small bankers liable for the risks that they can't really understand and can't really manage. we would like to see those risks and responsibilities moved to these big processor organizations. it is possible small banks would have to hold additional capital against the possibility that these large manned accounts might have to do a -- big transfers were fraudulent. not going back 90 days. this

steve weiss as we're looking at this green, what happened? europe, the summit is tomorrow.e still have low expectations about what's going to come out of that. obama care supreme court ruling tomorrow. have we forgotten about the head winds we face this week already? >> absolutely. i think there's complacency. let me say this, over the last week and a half, i've had one-on-one discussions with ten top hedge funds representing close to 100 billion assets under management. that's pretty sizable. every single one is positioned the same way, which is flat exposure basically, up 20% 30rks%, flat, flat exposure to u.s. equity market, no net exposure net long. means they don't own the european market at all. that's the fly in the ointment in terms of the market going down. nobody has exposure. nonetheless, complacency given where the market is on a year-to-date basis and difficulty we're starting to see coming out of europe and crafting a deal. >> you can get real volatility over the next couple of days if the high court rules against obama care, you can get a rally in stocks. if

alone in the weiss except for her servants and slaves, dolly did what she always did to try to quell the panic. aware that all eyes were on her, she planned a dinner party. without question, dolly's most famous day was august 24, 1814, the day of the invasion of washington. a close look at the day presents in microcosm all three of our themes. her role as the caretaker of the white house as mistress of the unofficial sphere and as the charismatic figure. all of the divisions that so worried dolly and james had split and instead of coming together washington city was falling apart. in order to pull the local and official folk together to send a message of calm and peace, dolly invited residents and members of the government to dinner, a meal held in the middle of the day. she intended to do this precisely in the face of the rumors of the invasion. as the rumors strengthened and the city began to evacuate she

melissa weiss has cerebral palsy and keeps her wheelchair outside her condo on 6th street northeast.sday her husband discovered it was gone. >> i can't figure out what they would use it for because they didn't take the charger with them. they must not have known much about it. you can't use an electric wheelchair after the battery's run down unless you have a charger. >> weiss says the wheelchair was worth about $5,500. homeowner's insurance won't pay to replace it because the wheelchair was parked outside the condo. >>> maryland police also trying to smoke out whoever stole a giant cigarette. this ten-foot-long, 150-pound cigarette was in the front yard of a silver spring couple. the owners say the thieves would probably need a truck to carry it off. it used to be a telephone pole but was painted to look like a cigarette. >> why? >>> if maryland decides to expand gambling, current casino owners would likely have little say. the "washington post" has obtained a confidential letter between a state lawyer and lawmakers. it says that the general assembly is on strong legal ground to add

weiss. >> i'm sorry i'm not particular with that legislation. >> i want to go back then to mr. clancy. there's multiple aspects. one is the transmission of the data and second, once the data gets to the ofr, you know, how will that be protected? and i guess the third piece of it and something the market participants have brought up is who will then have access to that the the moving forward in how they would be able to use it and access? those are areas that you have concern? >> i think access to the deed itself is one of the key questions both in terms of the appropriateness of what is done with that the study and how it is used and exported as well as how you defend against it being misused. what we mentioned earlier is the council are being taken over. this happens to the institutions and so if the accounts were taken, the access was used someone else could potentially exploit the data that existed in those repositories. to that end, we would expect a high level of resilience to those typ

weiss? >> i think one of the basic tenants that we recognized a long time ago, that all of the banking institutions were elements of the chain and any of the links were a potential weakness and

melissa weiss has cerebral palsy. says she keeps her wheelchair outside her basement condo on 6th street in northeast. yesterday her husband discovered it was gone. >> i can't figure out what they would use it for because they didn't take the charger with them. so they must not have known very much about it. because you can't use an electric wheelchair after the battery's run down unless you have a charger. >> reporter: weiss says the wheelchair was worth about $5,500. homeowner's insurance won't pay to replace it either because the wheelchair was parked just outside the condo. >>> a teenager killed by a freight train in riverdale park, maryland never saw or heard it coming. police say 17-year-old mary kaitlin gaffney was on her way to see her boyfriend last night. she was wearing headphones when she was hit on the tracks near lafayette avenue and queensbury road. police say the train was going about 35 miles an hour. the engineer said he tried to stop and did everything he could to warn kaitlin. her father says she h

certainly looks like a successful one thus far, weiss.g in. >> thanks. >> steve weiss with the trade today. you wanted to wrap up the conversation we were having with john rutledge and jim rogers on commodities. specifically related to a trade you like in oil. >> yeah. we lost john. jimmy can certainly talk to this. we're talking about oil. and i agree with jimmy that the opportunity may be presenting itself for a buy. goldman sachs talks about a 40% spike. ly tei will tell you this. i think we are 20 to 30 days outside of potentially getting a 50% opportunity buy in the energy market. the reason i'm not buying right now has to do in the physical market, i'm still being offered a tremendous amount of european cargoes to raise capital. you've got on july 1st the potential for an eu ban on iranian imports. after that i agree with jimmy. you have china import a record amount of oil. they are the best crude oil buyers in the world. probably 30 days out. >> i want to know, 30 days from now how low is it going to go? i want to mark my calendar.

also, peter weiss is here, and i would like to say a part of this story has not been known. we want to acknowledge this. we're so pleased with some of the leaders of the chinese real- estate association are here. archer woman is here. we also have our president elect. cvs and visa are providing gift cards. i would also like to say that our representatives from hud have been incredibly important. you'll be hearing from the leadership of hud. jake martin is here from the va , and joanna's year as part of the incredible case work that has gone on. and trent, his incredible team. and joyce krum, his deputy for homeless services. i want to acknowledge they have been helpful in pulling together the nation's when an individual needs furnishings -- pulling together damnations when an individual needs furnishing. -- pulling together donations when an individual needs furnishing. and so, to start us off, our mayor, ed lee. [applause] >> thank you, bevin. i want to reiterate my thanks to the board of supervisors for working with me. bevin, is an ex-person on the board as well. we are a

we have steven weiss, and zack callabell out in the ether zone. so many professionals and smart guys saying this guy can't hold, it's just a bunch of short covering. i worry about global recession and i have for awhile, but growth will improve if european banks improve the outlook, and i'm impressed with the t.a.r.p. to protect spannic and italian banks. up 5% in europe is big. >> they're not taking is seriously because there's such a feature and skepticism in market land which you deal with and we talk about every night, and steven weiss will enlighten us about. it's not just european banks, it's that global activity took a real pause in april and may, and you will have data that confirms people's fears even though in my view it's a purely driven derivative. if it's embedded in the system, it's very hard to quantify. if that clears i don't think you have the structural global issues that many other do and this will be a joongoing debate. profits were down, i'm worried about the global story too. i'm not a raging bull, but i'm impressed with today

also, peter weiss is here, and i would like to say a part of this story has not been known. we want to acknowledge this. we're so pleased with some of the leaders of the chinese real- estate association are here. archer woman is here. we also have our president elect. cvs and visa are providing gift cards. i would also like to say that our representatives from hud have been incredibly important. you'll be hearing from the leadership of hud. jake martin is here from the va , and joanna's year as part of the incredible case work that has gone on. and trent, his incredible team. and joyce krum, his deputy for om

melissa weiss has cerebral palsy and says she keeps her wheelchair outside her basement condo on 6thtreet in northeast. wednesday, her husband discovered that the wheelchair was gone. >> i can't figure out what they were use it for because they didn't take the charger with them. so they must not have known much about it. you can't use an electric wheelchair after the battery's run down unless you have a charger. >> weiss says the wheelchair was worth about $5,5 hundred. homeowner's insurance won't pay to replace it because the wheelchair was parked outside of the condo. >>> some breaking news now. d.c. police officers investigating a suspicious vehicle in the 1300 block of pennsylvania avenue. officers have shut down pennsylvania avenue between 12th and 15th streets. you see that here. stay with us, we'll update you on this as the morning progresses. >>> let's get a look at the forecast before you head out the door. tom? >> could get strong storms this friday evening. some could produce wind damage and enough heavy rain to cause some isolated flooding. get inside, turn on nbc 4. we'l

. >> summer sent an e-mail to me and i sent it on todd weiss's who is thrilled. >> it restores your faith in humanity. >> her old chair is just like her stolen one, only better, because it has a seat lift. >> there's always an opportunity to do bad, but there's more than a million opportunities to do good. why not do it? >> peggy fox, 9news now. >> now along that same note, one viewer has offered to transport that new wheelchair. melissa is still hoping whoever took her old chair will bring it back so she can pass it along. >>> would you be able to get out of a metro tunnel if there was an emergency? a new report out suggesting metro was ignoring complaints on blocked emergency exits. bruce leshan with reaction from the station. >> metro exits blocked and locked, screams the washington examiner. after looking back at thousands of inspection reports on metro's emergency exits. the problems could leave riders stuck underground in a crisis and the problems either took too long to fix or were never fixed at all. >> that concerns me. they allowed it to go as long as it's gone. >> inspectors fo

melissa weiss has cerebral palsy.s she keeps her wheel chair outside her basement condo on sixth street in the northeast but on wednesday, her husband discovered the wheelchair is gone. >> i can't figure out what they would use it for, because they didn't take the charger with them. they must not have known very much about it. you can't use an electric wheelchair after the batteries run down unless you have a charger. >> weiss says the cheelchair was worth around 5500. homeowners insurance won't pay to replace it because the wheelchair was parked just outside her condo. >>> the d.c. expo is being held this weekend at the washington convention center. mauden cooper from the greater washington urban league and john hall from the department of housing and community development join us with more. let's start with you, john. maybe you can tell us a little bit about home ownership in the district. is it declining? and has the city been hit hard by the foreclosure crisis? >> right, well the city has not been hit as hard as m

steel, letter x, the best performer within that space today, up more than 5.5% and steven weiss, thatattention. >> it does. i covered my steel shorts last week because i was relatively neutral to the market and that really skewed me to being very short. i initiated position in joy global and talking about all time being a good asset and i used to have a big position a few years ago and i agree with them. i think it is a quality company at a low multiple. >> head back down to the hearing and mr. dimon. >> i personally if i had a board i would want to hear from a lot of different types of people. it would be fun toy be talking about global markets and not have someone involved in global markets at the table. it doesn't have to be me. >> nothing further. >> mr. chairman. >> mr. chairman, five minutes. >> thank you. mr. lynch wanted to swear you in. you already said something that is false that we all know is false. >> excuse me, let me finish, please. >> sir -- >> i want to clarify something about swearing people in. we had a hearing in september of 2009 where mr. frank was chairman and

. -- weiss. go ahead. >> good afternoon. i am an architect and principal in a firm located in downtown san francisco. for years, i worked on the embarcadero and am familiar with the challenges it presents. i am pleased to be here on behalf of the many individuals who worked at for was the four years to support that thoughtful development of the waterfront communities. chairperson chu: can i ask you to pull the microphone closer to you? priced to be sure, a parking lot surrounded by green and in does not belong on the embarcadero. san francisco citizens deserve the right to have the opportunity to find real purpose uses along the water's edge. a need to continue to evolve with dignity and grace. remained difficult, but there is no question that the sound principles, a historic sensitivity, and connectivity between neighborhoods in the bay are all important things. the city must work to ensure its success, and this project as just that. after several years of planning and design, public participation and city approval, there i

stephen weiss, i didn't mean to interrupt you earlier. we were waiting on the president.ive us your thoughts on what you would do today based on this landmark decision by the supreme court. >> i wouldn't do anything today. if something like wellpoint gets tempting because it's down too much. we know that's going to hit employers. c caterpillar is going to take a while to shake out. pharma and biotech are also clear. >> i would say it's clear for medical device companies as well and in a negative way because they would be susceptible to attacks. you've seen those stocks moving down today as well. >> true, but you have to go through each company and see how they've incorporated that into their guidance. there's down side guidance. >> there's declines, as we're mentioning in the companies, medtronic off by 1%. st. jude medical and boston scientific seems to be getting hit harder than the others. what would you do? stephen says don't do anything today. is that the way you would put it? >> i don't think you have to do anything today. the activity has been really pronounced. we

. >> i sent it on to the weiss's who are thrilled. >> it restores your faith in humanity. >> her new chair is like her stolen one, only better, because it has a seat lift. >> there's more than a million opportunities to do good, why not do it? >> peggy fox, 9news now. >> the attorney for george zimmerman is asking for a new bond hearing for his client. zimmerman is a neighborhood watch volunteer charged with second-degree murder in the death of trayvon martin. a judge revoked zimmerman's bond last friday saying he lied about the state of his finances. zimmerman returned to jail yesterday. >>> today, pennsylvania supreme court denied jerry sandusky's request to delay the start of his trial. the court ruled the sex abuse trial against the former penn state assistant can begin with jury selection tomorrow. now memory could come into play for a key witness. that is former assistant coach, mike mcquery. he saw sandusky sexually assault a young boy in a locker room shower in march of 2002. prosecutors say the actual date is february 2001. >> the jury is going to be asking itself if mike mc

steve weiss, the tok is off 2%. bill ackman still behind this one.ou're not. >> i'm still shorting. the strategy is not working out. and johnson as much admitted to it. i listen to the web cast today from the piper conference. he seems to be backtracking. now he's talking about home products. i just think it's just in complete disarray. key vendors that i speak to say that it's a disaster. if you take a look at the credit default swaps, they're now blowing out to where they were near '08 bottoms. so it's not a good situation. you're still paying for a successful turn around. go somewhere else. >> don't you think it's a little too soon to tell though whether the turn around will be successful? >> exactly. so that's why the valuation shouldn't be anywhere near where it is now. nor should the estimates for next year be where they are. so let's see if it takes hold. my bet is it won't. >> okay. dollar general down nearly 3% today after the deep discount retailer unveiled plans for a secondary offering. the company also reported a jump in profits. revenue

weiss? >> hello. i am here. i hear you. >> i am asking about the trade.. >> i covered my steel shorts last week and said i would be back and i am back. aks came out and said that their production is only to be higher than the first quarter and price continued to come down. a lot of other industries have high barriers of entry. steel has high barriers of exit. they don't get it. they keep producing more steel and it is declining markets and you spend enough time talking about the global economy declining and these stocks go lower and i wouldn't be surprised to see them report losses not only for next quarter but for the entire year. they're the shorts that keep on giving. >> we had you talking about letter x yesterday. >> yeah. it got away from me today in the short side. i am sure it is such a small portion of it that i didn't really want to talk about it, but i will short it. i am hoping for a pop, but i am comfortable shorting more here actually. >> i am glad you didn't want to talk about it because i did. >> thanks for bringing it up. >> we'll talk to

weiss and i'm the director of the city's intelligence center. we protect city's customers, our brand, global business information against threats worldwide. i'm testifying on behalf of the securities industry and i -- on how to safeguard emerging markets. i'll be focusing my testimony on cybersecurity in the financial services sector and what we are currently doing to protect our infrastructure and more importantly our customers from cyber attacks. we support the goals of the administration and congress to limit cybersecurity threats against the american people, businesses and government through a more integrated approach. the increase in cyber intrusions and cyber crimes in the past decade is cause for great concern. the members and firms are on the front lines defending -- defending against cyber threats in the markets and we take our role seriously. cifma members comply with laws including the fair credit reporting act and the right to financial privacy act, these laws and regulations are re-enforced by regular pro active review and audited b

twenty summit in mexico tomorrow word to visit weiss of issues presidents would now obama agreed that syria should be solved through diplomacy and pledged to keep seeking a compromise and european missile defense. also at the summit world leaders raising alarm over a lack of progress in dealing with the eurozone debt crisis which they say threatens to bring the global economy crashing down this is as greece struggles to form a coalition government funding the debt laden country deeper into trouble. nuclear powered iran stands firm on its right to peaceful atom as western officials try to pressure the country into submission during an international conference in moscow tough new american and european sanctions against islamic state are due to come into force within weeks. here with us now it looks like the american courtrooms are being kept busy to tell you what made its appeal season it seems like stateside up the moment in both american football and baseball big stories coming up plus the latest from euro twenty twelve. thanks for joining us this is sports of a on we have plenty for

ernstein weiss. >> good afternoon, everyone. i wholeheartedly approved of the warriors coming here and the giants. as you know, i supported them from the get go. that is where your money is. it is not on this little part of washington that you are making a big deal of which is going nowhere. i agree with korean. you should listen to the people in the community. they know better than you what fits. as a matter of fact, as a creator of open space parks, i had the vision and leadership to know that we needed open space here. we do not need development that is deleterious to the port and the neighborhood. please listen to the people, look at the amount of people here trying to help you do the right thing. i told willie brown the port is where the money was years ago. that is how we got all this development. pleased to listen to me. that is where the money is. concentrate on seawall lot 337 and tier 70. that is a gift that you cannot replace. thank you. >> thank you. is there any further comment on item 90? -- 9b? commissioners, any