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tv   Martin Bashir  MSNBC  August 9, 2011 12:00pm-1:00pm PDT

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and the rating agency that everybody is talking about. >> the rating agency is standard & poor's, and who is going to listen to a company whose name translates to average and below average. and it is anarchy in the uk with buildings ablaze and violent clashes. as the sun sets with more mayhem to come, and we have live report from the scene. and plus, coming home, the warriors who lost their lives fighting for their country in afghanistan's deadliest day returned to a hero's salute. we begin with breaking news from the troubled financial markets and with new information just released from the federal reserve. the reserve says it will keep the interest rates at record lows for two years after acknowledging the u.s. economy is weaker than previously thought with increasing risk. the statement says in part to promote the ongoing economic
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recovery the committee decided today to keep the target range for the federal funds rate at 0 to 1 quarter percent. that sent financial markets into turmoil. and take a look at the boards right now. all day, they have been in the green, but after the statement from the fed, they shifted into the red, and throughout the hour we will keep a close on the boards as the day is drawing to a close. but the big question is, is the fed, the move by the fed what is needed to start moving the economy in the right direction? let's go now to nbc's kristen welker on the north lawnf of the white house. kristen, thank you for being here. >> thank you. hi there, jonathan. >> what are you hearing from th fed said? >> well, they are not commenting on what the fed said, and they
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are not commenting on the markets generally, and think are trying to create air of confidence and calm, and you saw that yesterday when the president came out to talk about bipartisan and bi-cameral committee to convene to identify more deficit reductions and you heard him say that, that despite the mo of standard & poor's, the united states is still a aaa country, and the united states trying to create an element of calm right now, and the markets are volatile today as you mentioned, but is certainly better than yesterday. jonathan. >> i am looking at the dow jones down 64 points. earlier today, the president was supposed to meet with treasury secretary tim geithner and tell me what is happening with that meeting? >> well, jonathan, the president's schedule has been a little bit touch and go today, and he made a surprise trip to dover air force base to pay his respects to the 30 service members who were killed in afghanistan over the weekend. so we will have to see if he winds up meeting with the
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treasury secretary today, but they are in close contact and as you know, the president and treasury secretary just announced that tim geithner would be staying on throughout the remainder of the president's term, so again, trying to create an element of confidence and stability despite all of this economic news. jonathan? >> well, kristen, tim geithner announced over to the weekend or maybe the white house did over the weekend that he was staying after rumors went out there earlier in the month or late last month that he was going to leaf. any sen any sense of how strong the arm twisting was for tim geithner to hang on through 22012? >> well, we don't have any information on the internal pressure, but the white house spokesman came out, jay carney, saying that it will provide the
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stability that the white house is very good move to have, and as you know, some people have called for the treasury secretary to go. but given all of the turmoil in the markets right now, the white house certainly saying that this is a good thing, jonathan. >> and kristen, we know that schedules and particularly presidential schedules are up in the air, but do you know of any other meetings scheduled for the rest of the week related to the economy? do we have a sense that the president and the administration really is trying to get both hands on this problem? >> well, that is going to be the focus of this administration moving forward and he is head on a midwest tour next week, and he is going to be holding a rural economic summit in iowa, so this is something that he will be quite focused on and again returning to the comments yesterday, you heard him talk about the fact that for the first time he would be providing really some ideas for the bipartisan bi-cameral committee
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and his own ideas of how the improve the deficit reductions moving forward and the president trying to take charge of this, and as we move into 2012, jonathan, this is going to dominate the discussion. >> you are absolutely right. nbc's kristen welker, thank you. let's get back to wall street and what the reaction to the fed seems to be among investors. we are going to bring in cnbc's brian sullivan. brian, thanks for being with us. >> sure. >> bring us up to date, what is going on? >> well, a remarkable fed statement here, because the fed laying out a date at which it sees the economy being weak until. and the fed has been using the doublese, and weak for a double-period, and exceptionally low rates, et cetera, but now in the statement that came out in less than an hour ago saying that we expect to keep the rates exceptionally low ie near 0.0 to
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mid-2013, and looking out to say that the rates will stay low and used words like flattening, and weakening and the housing rates depressed and negative outlook on the u.s. economy from the federal reserve. >> brian, will the traders buy it that they are keeping the interest rates the same? >> well, they are, but no offense to ben bernanke, because they are all smart people on the federal board of governors, but at the same time what we have seen in the stock market is the wisdom of crowds and the idea that the millions of people who collectively form the market have been screaming for a couple of weeks that the global economy is at risk of slowing down dramatically. brazil is slowing down. europe is having banking problems and what we are seeing here, an ben bernanke acknowledging what sort of the market has already suspected and thus adjusted for it which is probably why we are not seeing the dow get crushed, right. i think it is down 40 points right now.
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>> well, right now, looking at the board, it is down -- well, it was six and now it is down 11. but one more question for you, brian, before you go, and how much of the turmoil in the u.s. is being fueled by the debt crisis in europe? >> i think a lot of it. you know, i have been sort of screaming about europe for a while and not trying to toot my own horn or anything, but when we look at europe, and we think greece, and portugal and ireland and they are small countries, but collectively what people don't realize is that the eurozone collectively is larger than the united states. the gdp of the european monetary nations together is bigger than us. so we are seeing the debt crises there, and banks might have to contract, and if europe goes into some sort of a slowdown, that is a massive export market for many of the biggest u.s. companies. we sell them planes. we sell them trucks. we sell them tracks or the and yes, we make them in the united states, and if it slows, that is
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a negative to the gdp. europe on this side, and china and some of the emerging markets slowing down as well, and collectively, we are not going to boom in the next six months to a year and i would love to sit here, jonathan, and tell you that, but it is not the case. >> thank you bri, brian sulliva for being with us. you can see more of brian on his cnbc show "street signs." and now to the hero's homecoming for the nation's bravest ar warriors. two c-130s remained in dover air force base and the transfer of the fallen soldiers began. it is a sequence that the pentagon said will take several hours, and we have learned that a number of high-ranking officials including the president. and now over to nbc's tom costello joining us live outside
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of dover air force base. tom? >> jonathan, good afternoon to you. we understand that the president arrived two or three hours ago, and he immediately spent time on the two c-17s trying to spend time with those members of the military who have come back, of course, having paid the ultimate price. he spent time on the first one with the commanding base officer here, and then at the second plane as well. then moved on to a private meeting here on the facility with the family members as well as members of the military. 30 u.s. military personnel brought home today with eight afghans and the reason they brought them all back together is because they need to identify each individual man and then present his remains to his family. and so the expertise here at dover air force base is the place they can do that very well with tremendous care and respect for the dead.
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the president is still here at the air force base, and he is also here with him and making this pilgrimage to dover has been the secretary of defense leon panetta and mike mullen, the admiral of the joint chiefs and the secretary, and this is a high tribute to dover air force base to pay tribute to them and 22 of them navy s.e.a.l.s and in total, all 30 of them represent the graetest loss of life in a single attack. back to you. >> tom, in the intro i used dignified transfer and that is a term of art and can you explain briefly what that means? >> well, the military takes great pride in making sure that they honor the dead, and they do it whether there are cameras there or not, and they do it whether there are military families there are or not, and it is simply the way they do business. as you know, and under president
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bush photographs were not allowed to document the returning victims if you will or those who gave their lives in afghanistan and iraq. that changed under president obama and with the family's consent, the media can photograph or videotape the return of the remains. what makes it particularly difficult in this case is that they have not yet been able to separate out the remains and identify each man and therefore they could not secure from the families permission to videotape or to photograph the remains, and so as a result of all of that, they have decided in this case it will be a private ceremony and bringing the remains off of these planes and then presenting them to the base commander here and the president, of course, here, and the secretary of defense and admiral mike mullen and presenting them and welcoming them back on american soil, and preparing them for the final trip to wherever they may be ultimately. whether their home is in hawaii,
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massachusetts, texas, whatever the case may be. >> nbc's tom costello, live at dover air force base. thank you very much. coming up, rioting on the streets of england. stay with us. [ male announcer ] the network -- a network of possibilities. in here, the planned combination of at&t and t-mobile would deliver our next generation mobile broadband experience to 55 million more americans, many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of new cell sites... for greater access to all the things you want, whenever you want them. it's the at&t network... and what's possible in here is almost impossible to say.
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investors are holding on for a bumpy ride as the stocks fight to stay in positive territory this afternoon and up and down day after monday's nose-dive and the dramatic reel iing of the market is giving ammunition to critics of standard & poor's the rating agency that downgraded u.s. credit for the first time friday. and here is how lawrence o'donnell put it last night on msnbc. >> s&p and other rating agencies gave aaa ratings to
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mortgage-backed securities that turned out to be the toxic waste of wall street. junk. worth virtually nothing. s&p -- >> even jon stewart can't believe the downgrade by s&p. take a look. >> i mean, maybe standard & poor's are just incredibly tough graderers, and are there other countries who have aaa ratings. >> australia and denmark and germany which is the strongest economy, and the netherlands and sweden and united kingdom and even the isle of man off of the coast of the uk. [ laughter ] the new york time's louise story has a look at how the s&p makes the rating calling and joins us from the "time's" newsroom. thanks for being here, louise.
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>> thank you. there were reports that the planes flew over the s, a a&p corporate offices and said, thanks, you should all be fired. >> well, my first reaction when i heard of the plane said that whoever sent it over didn't realize that the analyst who led this decision and analyzes the u.s. debt is based for s&p in toronto. so they flew it over the wrong office. but, seriously, here, there is a lot of anger and s, a&p and all the workers are taking it a as badge of honor and doing their job, and bad news stirs anger and a lot of the banks and the owner os tfr mortgas of the mor were upset when they finally did
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downgrade it, albeit very late. >> and how much does s&p play in what lawrence o'donnell called a very bad political analysis that led to the downgrade? >> well, that is what surprised a lot of people and that is that s&p openly said that politics were a factor. they were not looking only at the dollars and cents of the tax income of the government and the expenditures out, but they said that the political gridlock they saw in washington during the debt ceiling debates was a big fac t factor and made them think that the corporate governance of our country was bad and played a role. many people and especially people in washington saying that is inappropriate and not what the rating agencies are looking at. and even moody's, another rating agency came out yesterday and said we reaffirm the rating and at the end of the day, the two parties in washington did make a deal, so they seemed to also
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reaffirm a positive view of the politics. >> louise, the market is up 146.52 and despite yesterday, we are back in positive territory and despite the downgrade by the s&p at the moment things are fine, but the fact that they downgraded, the s, as&p downgra the united states says they have influence and why do they have influence and how can you break the influence? >> well, the irony is that the s&p and there are three main rating agencies have the influence because of the government. so since the 1930s, the government put in all of the rules regarding banks and mutual funds and pension funds saying they should defer to the ratings to drive their investing decisions. now part of the dodd/frank financial reforms of last year are to undo some of the influence, but not a lot of the progress has been made, but ironically, the government put s&p in this position and now
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they have downgraded the government. >> and now s&p is getting clobbered by the very same politicians. louise story with "the new york times." thank you very much. >> thank you. and now riots raging across the streets offing inland. has the government lost its control in london? [ male annou] this is lisa, who tries to stay ahead of her class. morning starts with arthritis pain... that's two pills before the first bell. [ bell rings ] it's time for recess... and more pills. afternoon art starts and so does her knee pain, that's two more pills. almost done, but hang on... her doctor recommended aleve because it can relieve pain all day with just two pills. this is lisa... who switched to aleve and fewer pills for a day free of pain. and get the all day pain relief of aleve in liquid gels.
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now to london where the tensions continue to rise as the rioting and chaos persists. citing sickening scenes prime minister david cameron announced an additional 10,000 police officers would join the 6,000 on the streets, and they have also launchfed the biggest investigation in the history and even larger than the july 2005 tube and buster error bombings in an effort to charge people involved in the violence. for more, i'm joined by nbc's michele kosinski in london.
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this started off after a young father was shot and killed, and how did it escalate to this point, and any sign of oslowing down? and has the prime minister david cameron once again cutting short a vacation back to london? >> yes, okay. it did start after the death of that young man at the and has of police, and it was under disputed circumstances, and they are still disputed. at this point the police are saying that they could not prove that he fire on the officers as they originally said, but there was a peaceful vigil saturday night, and he was shot last week actually, but the vigil sort of ended in violence and escalated from there. and what is strange and what no one can figure out at this point is the way it has spread to pockets all over london and it was not just one neighborhood saying we have big problems near the community, but please, we are going to demonstrate violently about that, and it does not seem to be about that at all at this point, but a it
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is all over the place in all kinds of neighborhoods and some may have had tensions in the past and some say in the community, no, we really don't have tensions here and everybody lives multiple ethnic groupsley peacefully together, and we haven't seen this before. then it spread outside of london to other cities. so what the government has said, and we talked to the mayor of london today, and we said, is this pointing to an underlying layer of disfac dissatisfaction economy or the employment opportunities, and the people there and the police are echoing no, it does not look like that. in some cases, these are young teenagers. the youngest arrested is 11 years old, and we are seeing 14 and 15-year-olds out on the streets and they are not old enough to have jobs, and they are calling this just violence and crime for the sake of violence. in most cases, it seems to be
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about looting, sadly. >> stunning. horrifying pictures coming out of london. michelle kosinski in london, thank you. and rick perry aims to take a run at the white house. ♪ here i go again on my own ♪ going down the road i've ever known ♪ g it survives brushing. thankfully, there's listerine® antiseptic. its triple-action formula penetrates biofilm, kills germs and protects your mouth for hours. fight biofilm with listerine®. kills germs and protects your mouth for hours. a mouthwatering combination of ingredients...e for you! i know you're gonna love. [ barks ] yes, it's new beneful healthy fiesta. made with wholesome grains, real chicken, even accents of tomato and avocado. yeah! come on! [ barking ] gotta love the protein for muscles-- whoo-hoo! and omega-rich nutrition for that shiny coat. ever think healthy could taste so good? [ woman announcing ] new beneful healthy fiesta.
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political panel. joy ann reid is a managing editor at, and with us from washington michael sheerer is the correspondent from "time" magazine, and you have a column with the headline why rick perry is the second coming of george w. bush, joy ann? is he really? >> well, yes, because he sounds and gestures and kind of acts like george w. bush and it is uncanny because if you are listening to him speak and not watching the tv, it sounds like george w. bush, and aside from the similarities and he was george bush's lieutenant governor and the longest serving governor of texas in ten years, be he has a lot of symmetry with bush and heavily courting the evangelical vote, and that christianity is central to the campaign and same as bush. on the downside, soft on immigration law. so he was not supportive of having an arizona-style immigration law in texas and on the negative side, he faces the
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possibility that the tea par whoi loves him says i'm for the secession thing, and they might not be so happy with him on immigration. >> and michael, with the gallup numbers if rick perry jumps into the race, he does a number on michele bachmann and her support, so how if he does jump in, how much does she have to lose? >> well, the thing is who is supporting mike huckabee for 2008 who has not come out for michele bachmann? and that shows that there is a lot of evangelical leaders and national evangelical leaders standing on the sidelines and i have talked to some of them getting phone calls from rick perry's people and in touch with the campaign and quite literally waiting for perry to get in, and bachmann's play is the mike huckabee play, and he sort of shores up the social conservative vote and gets the tea party and moves forward and if perry comes in, he is going to compete with her strong for the social conservative vote,
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and have something that she is not going to prove that she has which is not going to play in the national election. >> and the portrait of michele bachmann has generated controversy, and i have written about myself, and editor tina brown said that michele bachmann's intensity is galvanizing the voters in iowa and "newsweek's" cover captures it. >> that was not intensity, but crazy eyes, and that photo made her look kind of crazy, but it would be inappropriate if the michele bachmann didn't make that crazy eye looking, and she has done it, and she looked in the wrong camera in the state of the union rebuttal and the loopiness, so it captures the persona that she has embodied kind of the wild tea party lady, but as a woman, i would have hated that woman, because it was not great and flattering, but at the end of the day, they wanted to show who she is and not how she looks. >> yes or no, sexist or not?
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>> i think not. it talked about the image of her being loopy. >> i had to ask you that. >> michael, we know he is not running, but senator john mccain took some heat at a town hall in arizona monday and the tea partyiers angry that he called them hobbits in the debt ceiling fight. >> that is not true. we need to raise the taxes on the wealthy. on the wealthy. >> time-out, everybody. wait. everybody -- okay. >> refusing to apologize for saying that balanced budget amendment supporters live in fantasy land and what does it say about the tea party mood going into the race? >> it says i think more about john mccain, and he came out of the 2008 election furious at what had happened to his reputation and wanting to get some revenge and the first step was to win re-election and now he is worried and focused on the long-term legacy and trying to
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square this anger at obama who is playing centrist game with his desire to reclaim the deal maker centrist role he had in the senate. this tea party stuff is there, and it will keep coming up, but mccain has six more years and he is okay, he can take this in the town hall meetings. >> thank you both for being here. >> thank you. >> thank you. turning back to the expended coverage of the market crisis as we are closely following the developments on wall street today of the s&p downgrade, and this afternoon the federal reserve offered a glimmer of hope. pee peter morici is a professor from the university of maryland and he joins us from washington, and a lot of pressure on chairman bernanke today saying that the interest rates will remain low and will this help to reassure the markets do you think? >> well, unpresented move to show that he is going to use monetary policy to sustain
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employment and keep the economy going. he is more focused on keeping the economy going than inflation. >> peter, what is the next step? >> well, the fed doesn't have a lot of options left. we can do qe-3 which would lower long-term treasury security rates, and in turn lower mortgage rates and not much of an effect on car loans for example and not much of an effect on business borrowing, although it would give the stock market a little bit of a lift, but other than that, the fed is out of bullets. >> peter, should washington be doing more to boost the confidence and there is talk that the president should order congress back to work through the financial crisis? >> well, the president has to decide what he wants from congress before he orders them back. asking them to come up with a package of easing regulatory burdens is going to do no good and the chamber of commerce and jamie diamond from wall street will all show up with particular
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agenda from the business, and he needs a list of five, six, seven things for example to develop natural gas and oil in the united states and to use it more readily. to manufacture in the united states more rededadily, and thi of that nature. and some of the tax code is burdensome so it is appropriate to come up with the package to make it easier to bank without making it dangerous the bank. >> peter, it is only tuesday, but do you think that the week will end on and up-note for the markets? . >> well, i think that we have seen the worst of the bad news and only it can get better now, and it can rebound after the fed made the statement that it expects growth the be sluggish is a good sign. >> peter morici, thank you for being here. >> thank you. coming up, another wild day on wall street and looking better than yesterday and we will bring you the latest ahead.
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>> welcome back. melissailissa rehberger is in t newsroom. >> well, polygamist warren jeffs will spend the rest of his life behind bars. he was convicted of sexually assaulting go girls, and today, a jury in texas sentenced him to life in prison for the first count and 20 years for the second. the fundamental life leader molested the girls who he says were among his many spiritual wives. and today, in the largest recall election in wisconsin, six state senators are targeted on the referendum of governor scott walker to take away nearly
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all of the collective br gahecog rights. and take a look at the newly released security camera that shows the fury of a deadliest tornado in history. this is from the high school in joplin, missouri n may. the storm killed 30 people and ripped apart a quarter of the buildings in that town including the school campus. as the fall semester starts next week students will at the end classes at a nearby mall until the city can rebuild. some pictures, huh? >> yes, milissa. and one of the biggest breeches of cyber security is uncovered. stay with us. ♪ host: could switching to geico really save you 15% or more on car insurance? host: do people use smartphones to do dumb things? man 1: send, that is the weekend. app grapgic: yeah dawg! man 2: allow me to crack...the bubbly!
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let's look at how tstocks are doing today, and my goodness, it has been wild after the fed statement came out, and
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they went up and then down into the negative and now sharply higher again with the dow jones industrials up 266 points and back above the 11,000 mark. this is of course after taking a beating from the market on monday and bank of america also facing a lawsuit for more than $10 billion. aig filed the suit claiming that b of a filed fraudulent materials, and including a residential mortgage-backed securities at the height of the housing boom. they say that cost them and taxpayers more than $10 billion in losses. elsewhere, the airlines are rolling back the ticket prices now that federal excise taxes have been failed. some airlines had raised taxes a p pre
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preemtive move in case they had to pay those taxes. and now we have cnbc's john harwood joining us. keeping the interest rates through 2013 low, and is that what we wanted to hear? the market is responding well up 215 points? >> well, jonathan, the wild gyrations in the market that andy was describing shows that the market are trying to figure out what is going on just like we are. they don't have a better or clearer picture than anybody else. i do think that some in the markets wanted to see the fed act more decisively and go with a quantitative easing of qe-3 to pump more cheap money or long-term money into the economy and the counter pressures you saw to that, and you will see that the dissents, and the planting of the seeds of future inflation and driving down to value of the dollar and all of those things are forces acting
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on ben bernanke, and signalling that he is going to keep the rates low for an extended period of time through 2013, they are at least signaling the fact that they get the economic outlook has gotten bleaker and left open the possibility they will take more decisive steps down the line. >> let's talk about the political outlook and what is the stance now in washington? because some are calling for congress to come back to work now, and is that what is needed? >> well, i'm not sure what will be accomplished, jonathan, because you know as well as i do the extent of the divisions and the contours of the divisions in the congress. when i have been talking to people within the administration and close to the administration and on capitol hill, it is well, call them back and what will we do? what would we get done? why would we look better? why would the markets feel better if congress is back displaying the bitterness and the polarization that they reakr reacted to negatively over the summer. some people want the president
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to be fiestier and campaign advisers who want him to slap around the congress more, but i'm not sure what that will mean, because substantively the president said he wants trade deals and cut taxes and infrastructure and it is not likely he will get applause from congress for all of the proposals so i'm not sure what would be accomplished if they came back now. >> and john, how much weight does the fed carry in times when we are facing a financial crisis? >> well, a lot of weight. the fed has had a greater effect on economic policy i believe since president obama came into office than president obama has. qe-1 and qe-2 were significant in trying to refloat the economy and turn the construction into a expansion and slow expansion and high unemployment expansion, but the economy is expanding and does not appear to be in recession, so that the fed has some tools, but the problem is that they have fired most of the
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ammunition, and i think that it is truly extraordinary if they intervened again. and you could tell from the nature of the decision things have to get worse before they intervene in a more robust way. >> john, the market is up 316 points and you are watching the markets and we are watching the markets and are the folks inside of the white house watching the markets as closely as we are? >> absolutely, they are. and yesterday was such a rough day for the white house, because when you see the markets tanking, there is anxiety among investors and people out in the country who may not be following my colleagues on cnbc or following the hour-to-hour movements ju s just have a sens something wrong going. and the downgrade was a blow to the psyche and so is the stock market. it is a better day by definition when you are in the green if you are up 300 points, and it is less pressure on the white house, but they have to figure out a long-term strategy to get
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this down below 9%, and get it to the more robust. >> john harwood from washington, thank you. >> so, in other words, the markets points. >> martz dropped 50 points why you and i talked the last 50 seconds i. blame it on you. >> thanks. i'll take it. a lot of attention given to the phone hacking allegations given to rupert murdoch here in america. a larger assault may be going on you may not be at familiar with. cyber hackers attacked companies like google, morgan stanley and security giant rsa. who is to blame for this? believe it or not, fingers are being pointed at china as the ca culpr culprit. for more, an old friend, contributing eder to "vanity fair" magazine. first and foremost, we've all heard the term cyber hacker. what is a cyber hacker and what do they do? >> we are looking at a problem that began about a decade ago
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with infiltration of commuter networks in government agencies and the defense establishment. that then fan out into the private sector. it grew and grew. in '07 we started hearing about it publicly, with the computers of robert gates hacked. angela merkel called out after other computers were hacked. google brought more attention to it last year and phenolly this year, just this month, last week, we've seen the announcement of the most extensive campaign of cyber espionage yet. more than 70 governments and companies in 14 countries have been attacked. government secrets, designs schematics, sdoeshgs plans for business deals have been stolen. what this shows is that any organization with anything of value is vulnerable. the most recent that's been exposed, operation shady rat it's being called, has been going on for five years and
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indeed is still going on. >> so, you know, fingers are being pointed at china. why is china the fogel poieg fo point of this? >> a number of victims on shady rat's list including the world anti-doping agency. you look at that, there's no possible economic advantage to hitting those guys. then look at the timing of the attacks. the olympic committees were targeted in the months leading up to the beijing olympics in 2008. who might have been interested in finding out about that then? then the full list of victims. it began with attacks on south korean government and private sector agencies. it included victims in almost every part of asia, but none in china. >> let's talk about the attacks on u.s. security. how deep are they going? and is anything safe at this point? >> they're going very deep. nothing is safe at this point,
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and actually, it's all getting much more dangerous the worse the economy gets. i think we need to think about this news in the context of everything else that's happening this week. as the dow goes off the cliff. as the economy tanks, business is going to be less and less likely to do anything about this, because china is their best prospect for growth. you don't want to punch your customers in the face. government isn't going to do anything about it, because you don't want to punch your mortgage banker in the face. they own so much of our debt. this secrecy gets worse and wor worse and we're making a deal, the same deal that led to the credit crisis. short-term profit for the few at the expense of long-term profit for all. as if we've been offered this deal. we'll double your salary. all you have to give us, your copyrights, patents and all your best ideas for the rest of your life, and we're saying, okay. that sounds pretty good to us. >> michael joseph gross, thank you for being here. >> thank you. now that you're all nervous
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about cyberhackers, a great time to remind you, for the latest news and clips from the show follow the show on twitter live and on faceboo facebook were bashir. we'll be right back. the business entrepreneur of the eeek week. this designer copyrighted her first cartoon character at 12. 20 years later, handpainted martini glasses. it took off. she licensed a brand from everything from pajamas to jewelry to towels. for more, watch "your business" 7:30 sunday mornings on msnbc. the safety of onstar is now available for your car.
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it's time to "clear the air." i've been a subscriber to the "new yorker" for years it's rare i get to sit down and read the fine writing with. meantime, friday night reading "getting bin laden." what happened in a night. i know about the controversy surrounding the reporting for this piece. still i marvelled at the planning, training, 1kri9 secrecy and the stealth of the men who carried out the raid. i came away with a greater appreciation of how despite all that planning that goes -- despite all the planning things go wrong and the ability to improvise is vital and of all the information describing the
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events that led to the killing of bin laden this stood out for me. he quotes a senior defense official who said, "this was not weren't of three missions. this was one of almost 2,000 missions that have been conducted over the last couple of years, night after night." he goz on to say, on the night of may 1st alone, special operations forces in afghanistan conducted 12 other missions. according to the officials, those operations captured or killed between 15 and 20 targets. immediately i thought of the detail when i heard the news a chinook helicopter was shot down in afghanistan on saturday. eight afghans and 30 u.s. service members lost their lives on a mission targeting insurgents responsible for roadside bomb. 22 of those service members were navy s.e.a.l.s, and most of them were from s.e.a.l. team 6. that's the same team that took out osama bin laden. officials say none of the s.e.a.l.s killed over the weekend were part of the a bin laden mission. they knew the dangers faced them
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day been on countless missions and still they served. in this time of grief for their families, let's all remember that their loss is our loss as a nation. just as president obama flew to dover air force base to give them a hero's salute and honor their sacrifice, take a moment to honor their memory and the memories of the 1,585 men and women who have given their lives in afghanistan. because so few of us are touched by the war on our behalf, giving thanks for their service is the least we can do. thanks for watching. i'll be back here tomorrow. dylan ratigan picks things up from here. dylan, i think we know what's on the agenda this afternoon. >> well, we certainly have no choice as to the agenda. as our politicians continue to refuse to acknowledge the root of what ails the entire western hemisphere. had will they wake up, jonathan? i hope sooner than later. our show starts, right now.