babasi that's why w we keke the long s/s/sht oil rao.o. obama wantnttoto push theapapnd trade and that will p pus green ergy, this would definitely ve a a boosttoto gas versrsus c inin t u.s., as well. ul, sorry, y youanted to come baba? >> yeah,h, sure. just wantedoo add ere, i i don't know if your vieiewe are awarare, t tt chihina is o of t only markets at t th momentt wi ov 200 ipos waiting too b listed a a that's verypoposive d i've n noteeee or k knoof any markets in t the world that hav got that many y ipos waititingo list.. thatat'slslsvery bullish for ina. >> i it' interestininghahatouous that. a a lo ofeoeopl would say t ts would bebe a negativeve for the equity markettbebecae there would be concerned autut soaking up all this additionaliquidity cocomi on.. but you ththinthth's not going toto ba big cocoern? >>>> tre is aanger that vestors could pull money o out from other arereas a a lo ofentrepreneurs are nowo want to gogolist the dififfencnc between ththe s.s. and thechina stimulus is there toee and hass gogot t t system quitit

>> i think s s >> look, here's the ththin let t s sayhis. of course, i'm o on e e otr si. i would d opsese iand oppose health c care,utut think what harold iss reemmmmenng for obama is timididit didn obamama say health care, , we're going to do itit reag w wld say -- and he believes somomhihingdamn the torprposos, ll speed ahead. however, i do agreree ining the well, , pepecily if you're going toto he e toaise taxes on small businesses or the e hethth pns, atateople get from businesesse you'rere gngng thave a firestorm this country, but here'e's th thing, lawrencnce. what youou wt t too now is what's going t to lo b bt down e e ad, what is best for t the cocotry, because that willll b best for yououanand u shouldn't try to p plapopolics now or worry, quite frankly, , abousoso poll in ohio. >> now, your nototn n of payroll tax x holiy y uld be a stimulus at republicans would g g o on board with. >> i would think, you havave to lolookt how you build a cocoition. u u t it on the business s sid the employee sidid i would pay for r thisititsome ofheheoney coming out of the bank

s march we went on? it was innarch and you were talking about ththe programs y hahaininew york and things to do to turnththeececomy ararou.. betwtwn n noand en, we he this $787 bililonon stimulus. hohow ch of the m mon that you applied f forave youeaeard whether you arare going toetet actuallyly gogoen? >> it's not a quick ocess. 40%of the moneyy haseven been dispensesesoso r.r. we are applying for cpetitive grants v fmula, but i l lik the g gras s an the ones thatata cocompitite. whether r it e ecacatial nonovaon, we cannot continueue to do the same thihingveveand over a aga.. and expect a dififfentnt rult. they think differently anand crtete p parerships and be acaccotable for real c cngnge the community. >>>> smany people are so critical as you know. they sayitit bureaucratic and d you are sayayinthth are trying to d do somethingnnnnovive and crtitive is there l l of red tape? that'souour ue version? >> therere papass of itthat are slow and obama is making i it sm acceptable. to sitwith three o four o

s? >>>> ba nose. yeah, you know, you jt talk to traders, and they sasa at this point nobodydy kwsws how t this ee goingng there is verery chch tug of w w he trying to decide whihichwaw the gogornrnme isis gng to go, which waway isis maet needs to gogo. after what we hadhis spring asas far as the run-up.. so yououee seeining veryauautis trades, rangebound, as we saw daday,ith low volumeehere. the market today, the reel sales certainly y heeded somewhat. they weren't abysmal, they weren't great, b they do p poi the fact thaha consumers are price seititiv itit t thediscounters whodidi well.. and this earniniss seasoson the focus now is on raising the bar and looking for sosomeraractn as fafar t the top li. they know that companiesesan manage the bottom line w wit cot savingngs. take a look at cocoa. ststard off positive on a sitive note with that beat narrower t tn n excted loss. but its ututlo didn't really point to things imimprininall ththatuch and d dn'n't int to top line growththanand

and we s s a bitit more of an uptick, aew percentage pointnts higher thihi time versus the l s time. juju general etfs are excellenn way to get into t the maet.. thth'r're ry easy tpricic thehey price rereal titi. th have very high liquididyy for the mosost part. some of them tradeoptions,ndnd ththes gs are interested in that, so the diversifificaonon great, b you have some of viviually no chancecehahat an ee stock willgo to zero, whereas an individiduastock, some of those csisided bellwethers from fallen o on very hardtime. etf, b bauauset's diversifieieda basket, it's s ve unlikeke something likehaha will happen. stick arounundith u anandy we'll bringg i i an investor an fixed-income satategt to didiscs if the mkets have turur out. ininin us president a cnbcc coriribur, and seinene owow lord abbott fixed income strategists. michael, 81% these 260 investstorarareaying essentially things are looking tesss positie to better going foforwd.d. are you on t the t tea am i on thehe tm?m? cecertnly feel bbetr, rebecca now that the market is up see 40% off the lolows but i i think i'm a good

barack obama s sss wve got two yeyes. this is s atwo-yearplan. uck schchereraid we've got t t years. thth d don have two yeyes. th congressional e eleions are november o of 20. ththey got t to show progress be then. >> i t thi a b b test will be etethethey at leastanan get some agrgreentnt o health care before the r recs s on the hses de. theeenenat is going to o beore difficult.t. that is a huguge problelem,ndnd we've got a prorosasal fromhehe house demococra a a charlie rangel f fornn incncee t -- s rtrtax even amongngouou dbs democrats in the houseset will beough sell. usus,he o oba administration has scored this whh the congngreioiol budget office, and they've figured out that rather th j jt- raise 0000 billion towards the h hltlth re costs, the cost of insuring the ununiinu inunsure inunsured, bututftfteren years thosose mbmbs block sharply. in t theututears unlnles tre e e mar savings f fro health care reform, you know, out there, y yourere gng too have a huge balloon of eenendires in ten years out, and thahat gng y a big debatat >> theigig

s? ts s janice from ononst.. you've b beeinin aront-end crash. . y youeed help? yeah. i'll contact ememergcycy services and statawiwithou. you okay?? onstar. stananrdrd f one year on 14 chevy m mods.s. >>>lolosi b bel realtimeme flas. 30 minutes to go in thehe sess. i got o o to t te a peek at. chececk t t mil. poppeped on my radar screen bebeususe crcrosdd the x volume level. moving 1.5%. if you look at thevolume,1.1.3 million so far mororththan doub what itoeoes on the average.e. the headlines totoy,y,othing goinggon there. their earnings notot due tillhe enenofof t month. it's a volumeeplay. e stock's haa nicic run. it's up 333% in aeaearo datete basis. milliporeess a biotech l lee science playay, dd it's othe move. maria,a, bkk tyoyou. >> thanks s ryry mh. amimileone for u u.s educucat de vi. the e coanany ringinin the closing bell a aost aonth ter it rlaced general motors. shareses hee gained over 1%. nce its ipo in '91,1,ththe stoc is up 3,900%. how abouout a 0000 rretn.n. joinin meowow withnother ccc exclusive, good have you on e program. congratutulaonons. this

know 9.9% unemployment is s awful? does it trump, s s, , ape's ipne sales? does it cancel out t thexpxpsive demand f f 3 3g d 4g wireless gadgets and worldwdwe e mole internet plays like ququalmmmmr papalm how about the voraciciouchchese demand foror cpeper steel? arare ey nullified by our unemployment figures? does the lack of jobs s he somehow cancel those orderers om coununt china? what abobouthehe ftastic numbers fr general mills? or how about terrific c sisine is at the yuyum anan? cocoell, kfc, pizza hut, l lon johnhn sveversor all you home gars and seafood lovers. bothth cpapaes are doing incredibly well. ishahat mehow neutralized cacae unemployment still a a b issue? shall we s simy y nore these bountiful earniningssesell erything, and hunker d dn?n? >> the house of papa!! >> because o oththatig bad figure f frolalasthursday? m mbe, just maybe, does i it make sensese tfofos on, say, how the e fo a a staple stocks are gagaing? thanks to collapsingng ginin, nanatul gas, gasoline, and h h yum m isicicng butt. wiwithower raw costs for chicken and a weake

i'm grateful that s s agreed t run wit. i am confidentnt she will be a major factor in the natioioll scene anand i alaska a as wl zoosh but you say y y were surprised a litttt bi wh >> well, b bauausehe had notot called meme. we discucussedtt since, andnd i better u uererstd the reasons for her decisision >> w wtt we ey? >>well,owow could she best rvrve? how w coul she mt e effecveve seserv a alaa and the country, anthth was her -- >> but, sesetor, you h hav a putation of perersoll a prpresessial toughnesess and sticick--i-it-veness. yoyososoug the highest role i the land, p prededentf the uned states. yoyou nerr qu. >> don't think she ququ. ththin she changed --- >> shehe mad a a promise tootot toto sve out her term, didn'n't shsh >> i don't know if there was a roromi." i do knonoththathe will be an efeffeive player on the national stage, and i i w wl say i have nenerr sn a susustain personal family attacks thaterer made on sarahhalalinnd her f filily in y life. carlrl can has very inintesting piecebobo the mediaa establis

s s onunlikely market that keeps o on owowg. as this dea surveillanan v vid shows, a lot of pepeop w whoou wouldn't expecect avavelg to the city to o buhehero. >> when n roroinirst came to the scenenininew york, itit usededoe considerer a a dirty d dru where the inner ctyty users were oooong it up, injecting itit. w with the higher rity, we get t afueue people from thee buburb coming into thhe city, puhasing this heroin t tha's hi purity anand thth smoking itr r snting it. 's become chic. >> it's s be c cald the perfect orm in all the wrong directions. very pure heroinin tt't'easy to get for lele t thathe price of a six-pack of beer is s fldidi the surbs of the northeast and it's no o ngngeroming from sosoutasasasia or afghanistan. mexico actuauallsusulies most of the e heininest of the mississippi, but the biggest supplier in n th noheast is a country ththat made its r repatn selling another drug - - colombia. ththou some intelligence analysts andnd l e enfcement officials disagree, as eararlys the 1980s there's evevidcecehat m

llll, is going s fast. hehe ijujustflying by a all t t ototherr hihicl driving at normal,highway speedsds. i don't t owow h anybody tctchi this inlalaw forcement coululd ininthis guguy is fe. just simply bause the speed. nono he's s slong down.n. itit looksike -- pulling off. he's pupullggofoff. flipping a u-turn, goinin ito -- it looks like he's g gogg into coming traffic at this oint. ining wn a highway ra, no,, getting on too another lane. look a at this. ohoh, momostaw a bad accccenet right thther we'r're seeingg this dodge go oo a fferent roadway. got ff of a freeway, not o on a ramp, but sort o of backwards an down and ososd into another roaoad. to t tll y the truth, llll, the chpepe pueded out onon a wi shsh.. i didn't see any v vhihicl from law enforcement bebehi him. >>t this ppoi, i'm awaw from a nnit, soaann seeat this pointnt ai'i'on the phone wiwith you. >>ow am i doing the ay-by-play? >>>> snds ffe. >>>> ion't have a backgkgunund ke sports r rad or ananytng. >>>> nelel done tthe very gogo.. >>

i can imimage e yo can s s there'e's trifecta, but let's o to the t of the triangle. she's yoleader, s so --let's go back to t the gop. >> i think i's difficult too say e'e'she leader. >> by popoining. >> as w come out andd able reintroduce herselfoo american people, the facact o oe he ininedhe ticket wasas t only time that john m mccnn leded bak obama, sohehe did ha a positive impact, actctuayy coeted barack obama's odod f st of the course of the campaign.. once she's able to rengnge, she may well becocome the leader. >>hehe does not have the financial position. >> what about theddea that the rerepuicics are supposesed ststanfofo conservatives alals? yoyou arart job, you finish it. you w wk on self-f-reanan, and not t cacaus mebody gives y y somethining. she was given that by john caca and asking people t give her that again based 2 1/2 years in office? i don't think sarah palinss asng for anythingng as i i lteteto yourcommentary, it's difficultltto undersrsndndy 51% of people fefeel she's bee eaeateunfairly byby thee memedi ee h a chance to get out f fr undederr t s

but let's s ave it at tthis. he was a g good fatatr. >> let's listen what his daughter hadado say day at the mememorialervice. >>>> i juswanted to say -- >> sak up. >> -- ever since i w was born,n daddy has been the bestt father you u could ev imagine and d ijust want to say i love m so much. >> cortney, i have fririendsho lilive in los angeleswhose chdren have had play das with michael jackson's children, and they report exact what his daughter had to say today. that in a allof their observatioio of th as a family, , that he wasas the gree dad to thesese kids, andnd thas the way they looked d at himvery day. >> reporter: i i think u're absotely right, rry. it's jt so wonderful to hear that.. i was kind of tryiying to press this w wle thi. i look b back- i've beenhere for ababout ni days now. i've been the neveverland ranch. i've bn outside the cino home. i was at the frest lawn cemetete last night, and i w inside the memorialal today. and you'd thk between that a growg up with mhael jakson d havi -- i got a whit

was s berere s got picked to run for vice president. 's's bn an inedible year off wahihing rah palin. wewe should know betttterhaha t suggest we know what she sououl do xt. what i isblble toee reported about the catastrophphic unraveling offerer governship tetellusushat t th isn't. theresnsn't ant exotic political scheme foriigh office he.. ere isn't a dramatic shoe waiting to dropinin big new imimin investigation. this isn't even a aut how s sar palin'n's fefe changedd scece s has been subject t tththeational spspotght. sarah palin's s caerer as an electeted fifial is overr bause a a proven fa built to govern. a t thi skin about crcricism, didistteted iorities that result from haviving that thinin sn an inabililittoto judge thehe difference betweenen wtt bugs hr as a perss and wh's's an apopriate use of anlected official's time ananththe blic's resourceces. governor papaliillee a privatee citizezen aiai by thee e of next ek. whoonnow what untold m miioione a wait h h ifoooo contrtrt t and anannnevable brdcdcting deal and show job. shsh

nody has more power to s s t the tonene oththisconomy than the president of thehe unid d ates. which is why it't'soso iortant ththathe administration shifif didireions, or even just changn their emphasis. we need a presesenent o's 100% focuseseonon cating jobs. t t a esident who's pressingng anan anda that only the most idideogically oriented left t wingers would view as s pro-employment. investstors e e raid of what the administration's's priitits will do t to e e ecomy. that's the zeieitgei t tt's run inin ts s maet now. i'i'gogointo offer some totally constructive criticismsm. why? whwh b busess is it of mine? because mymy jobs s protect yoyour 4(k(kand your i.r.a. and your 529 plan. not to carp about polititics, t worry obama's cap and t trade climatate anangelan will be a big g job sese in addition to a g money loser. itould make us less cocoetitive. weweeaear out the car check with ford arbitration, whicich ululd lead to a drdrataticxpansion of the weweof the union. lookok forhehenion labor label and sell it an oldld ada o owall streetet. i've been a memeerer otwo unions

there s aeakness in the market as a result. i think it's great buying opportunies for the banks and telecoms in all thosonomies. >> hey, david, this is t. i know you're the tad man. we're seeing comdities getting ripped out. in brazil, that's a big partf the trade. tell me why this economynot only expos tan export coodity play. >> only 13% is tied to an external trade. there's very deep, damic domestic economy fro there you're misng out if you don't own some of thesstks. look at that hugipo last week, veryuccessful. that's the kind braziyou want. not just the iroore and other stuf >> you didn't disappoint. hoabout india? we learn yesteay their deficit ending may be up to % of gdp, maybe the u.s. gets awayith that. i don't think india does. >> what it needs to do is fix the tax collection side of that. they can do at. they have a new gst cominin next april. grt way to play the whole econy. >> chl, david? >> what's that? >> chl. >> china mobe,e like the 3g roll-out, wh they're doing with wireless internet access. the first time y

>> he lived into his 90's. there was a time, particularly in the 1960's, when america really turned against the cold war, old cold war assumptions about -- and in the early 1970's, against the whole mccarthy era and so on. hiss is a popular speaker on college campuses then. but then, something happened in 1978, a scholar named allen weinstein published a book about hiss, called "perjury." wine steyn, both -- pine stein, both right and left-wing people asked for documents and got them. it made the case against hiss stronger. i think if it hadn't been for that book, hiss never really recovered, that was when a lot of liberals decided that hiss really had done it. there have been other documents released as a result of the fall of the soviet union, but i think in the end, they are actually less significant than our own f.b.i. documents. >> ronald reagan gave whitaker chambers the medal of freedom award. how long did he live? >> whitaker chambers died at a young age, i believe in 1961 he died. chambers had long bee

just so nice. >> 's horrle. that isterrib. was one -- ni man. >>police arnow loing througeiance video d interviewinge witns wh wasidehe sre at the ti of t sotin if you haveaninatn e susp involved yore asked toll baltimore co ce. the mber is 410-307-20. > a -yolhabe indied for t downs of atmptefit-deee muer assat anhandguns. court cumentalleat on july2nd,mo das was sponsible a double shooting on pulaski st. a bullet hityear-old att ine t. she wataken to the spital for treat. e seco vtim s treated and leased. das ising heldwithout bail. raignmt is schedulefor august11th. >>tonight poli have idenfied a man founmurded yeerdain nortast ltimore. tlbefore:0yesty morng, a paerbyawa bo of dead man sidea car near lake monteblo auoritietellus e victim, ear-d dedray ch was shotto h. have word on a suspect or a move. > a prnant elkt woman is de. police ceccoty ve arrested a 15-yr-old bo nneconith her rdernd rape. it haened earlieth ek on whitcircle elkton. a nehbor in the spfi gardens apartmencolex ew ic when r began leaking

i'm a s selr of these health cares,s, s aetna i think today' momo w wasoverdone.. there's a l l of ununrtainly there. >>i'm going to take w weloiois. >> araren >> yououkn,, i am putting m moy y whe my mouthth is.. i'm buying b bac e.e. >> i'm'moing to go to mcdalals, buyuy a bit. i'm goingo o ge myselfnenef osose black angusburgrger hee aa ttttleite toeeeelbetter. got to go. ananksor watching. sesee u back here tomorrow.. . e e fference is ford qualility quality t thacacan'be beat by honda ororoyoyot d d at difference is in evevervehicle in our lineup.p. which includes t theosost elel-eicient mid-size sedadansn n erica. now, drive the ford d diererce meme a we'll cover the firir t thr payments. hey.....dfefere is good. test d dveve ifor yourself. sit ford.com and drdrivththford difference. riri f foriabetes. diabet introducing new nuisistem d, the clclically tested programm folod reducingng bododugar. hi i'm mike,e,ndnd iost 100 pounds on nunutrysysm d that first step was diagrere le a giant leap., till i discovered nunutrysysm d. in a clinical ststudpepele on nutr

this ia s stop. the president wanted to touch base with africa to acknowledge its importance, and certainly to give credence to ghana, whichs one of the betecracies on this continent. but, of course, the expectatn is that he'lle back for a loer visit to africa sometime in the future. >> okay. savannahguthrie, we'll talalk wiwith you ain next ur. appreciaiate tha >>all of yoube sure to watch eet the press" tomorrow.w. david grego will have nators john mccn and chuck schur as his exclusiveve guests. if it's susundayit's " "meet the press." so check your local stings for that. >>> a new reportrt finds a secr bubush admistration surveilnce prograwas flaweded. the reportrt wasandated by congress lasast ar, and delivered onon yesteay -- delivered yeyesterda rather. it says no enough relant ofcials knew the extxtent of the ogram d it's not clelear h much useseful infoation was thered bush whihite hou acknowledgededt coucted warrantless wiretaps. but most other aspects ofof tha program remain clasfied. > the

mid 80's today. patchy clouds later this afternoon. increased humidity tomorrow. it will feel like july on thursday. a chance of storms. low 90's. but then we will cool bat down into the weekend. let's check on traffic. >> i have an accident on 95 northbound. callers are slowing down to look at it. i have never seen anything like it. it has been on the sill to for a long time. allow yourself to get past quantico and up to the marine base. eastbound out of manassas into their eggs -- into fair oaks. to 1 cent before forming tin road. you can get by -- 210 before forming tin road. i will take you to a live picture -- before farmington road. i do not like this picture. weakened see in this next picture. this is springfield traffic. -- we can see in this next picture. normal volume up to the pentagon. >> thank you. >>> this next story is true bravery and courage. there were held hostage inside their own home for hours. >> the couple escaped this ordeal. pamela brown is live with their story. they are ver

most of the titime s sry like th won't have a decent takeaway in terms of s stos s u can buy.y. this time, it's diffffenent. you have genuiui w walstreet pin actition because cyberattttac a are becoming a t tre i ireasing in th frequency and sophistication. there are now nation statetes sponsored cybererespnanagenits and d gaganid crime sponsored cycyrgangs. rgrgetg personal informationon this stuff is turnining toto b, big busisissss. i it calates, i think it uld reach a point wherere e e companies thatatrorote businesses a andovovnments from osose o attack could cause some serioiousrorobls. big, bigigbibig. the market loveses fs.s. lili i it not, it does. i wouldn't b bsusurpsed if not tololongevery company with thehe word cyber somewherere ithth descriptioion cocomesizzling. i don't think you shouldld b anything that t haa a cyr securitytyomompont for the sake i i but the trend isis wthth speculating g .. we like to specucula s sma and thatateaeansinding the best of eed players. the ones that work on momorehaha just the possibilili o of pe. even if thth b benit from that to i

bedahl h according to s. cis justked the that he w stationedt forwd oting pass solo aftehi sft ended. he was apparentlyith thr otr afghans. in aerof cmentthat u.s. oicials believe were ercefrom hime appled the oops to return back to the states. >> plee, p bng he hat we cane back whe we bengnd not oveere wti our time a our lives. >>eporter: be ared most moved wn talking abt his ly apoke ohiear neeg them again. i ms them and'm aaid atight neveem ag andha'll never be le to tell them at i love th again ll ner be able hug them. >> reporter: hisilissued a statemt asng people kee the soldier inhoughts and prayers requested ivy during this me. after he sappea the tal aimed thcapturim on eir weite. it ilied that head bn soo higherkingalan cials after s captur e mitarare stein up efrtto search fohim.nowr hel be movedo her forces in nbong pakist which wld me it difficult to loce m.and whth srchontinues poses yore stin o the foesere. o loc more milts while ey hunt eimissinsoie >>onia galle reptingro ndonhis morng, thas,

andd whaha this vy ntradictory view off it, a and basicalllly,s s yo know,rorom yoyour longtimeererce forratat neney han,hhat marriagess the ven for thehe heartltlesworld.. it's theayay that childrdren are raised sst, and anytime ildren are raised outsidee atconventional parental unit,t, they a are more trtrblbledand that's w whahehe piece isis >> i'm aayay happy t to includu senator meyey han in discussions in ""hababall th is the onon sgment where don't think he has place. the money han mrrrria was t t most beautifulul, l long t tngn havever seen. nonow,athleen, in thiss we's's "time" magagazeereport,itit say marriage isnninincrsingly fragile cocostruct, depenendi less andnd less on notions of sacrifice and obligations than on theefemmerara of romancnc an happiness kathleleen it ses that whenn polilicicianfind themselves in that plplac wonderingg aout the ha they dealt themselvlvesthth are as capable of gettiti hit wi t t dope aaanan, the love drdruganan losing c cntrol as anyone ee. isisn'thth w watat we're seeing here? i don't ththinththe's anytythi alal newbobout adululte a a a a

>> s, absotely. the question is how does rod blojevicand all of his public appearances where he insists the truth will come to light, howdoes he fight his former right-hand man saying he's a liar. >> as we deal with a country doling out trillions of dollars to our politicians to spend on roads, bridges an things we know nothing of, i go to recovergov and can't see anythingbelow $15 million. i'llust give you some, want to give some money away. stephen a. smith joins the nversation. blago m be toast, but i can't even -- i can't get a handle on whether blago is on of a kind -- on one nd he clearly is, or whether he's just the worst of the ki of many. >> he's not the worst buthe's certainly one of a kind. when y take into account his hairdo, i don't e anybody about wi that hado. let's row that out there now. but he was toast from the very beginning. they had wiretap. they had him on tape ying certain ngs. on top of it all, he was so vement in his denials. you ow thawhen you do that with the govnment, the

we will s s h long it takes em tooomeououof thatvevery private e reremo you're seeing on one s si o of your reen. well, there's t the staples cter picture. but t th the inside othth stapaps s ceer, they're just starting to let peopp in. the stageis set. veve simple with flowowernd sosome instruments thther then, of ououe, at forores la cemetery, wherere eeamily has gone in,, i icluding the the young children ofichael ckckso prince michael,l, paris, and little blanket. wee going to take a a break. but when ce back, we'll ve continuing coverere e ofhe ny faces o of michael jackson,n, one of thehe biggest memorials that has ever bnn seen. certaiaiy,y, t biggest event re in los angeles sincncththe olymympi.. wewell be t tking about miaeae jackson's sisic, about his legacy. 'l'lalso be lking about how the city in the middldle of a budget crisis i i going to pay fothis. it's all ahead, full covovere e the michaeael ckcksomemorial on msmsnb free credit rerepo d d ! tellll yr r frnds, tell your d,d, tl your mom! ver mind, they've been nging our songs since we first shod up with our pirate h ho

look at the s&p a a a precacari point of s spoport level. we break the low o of 8888 the s&p at a ononmomontlow and the dollar index a at a two-wee high. materialalarare wer as a result. duduntnt i part because t thehaa a lalay in aapproval of onone its herbicides overerse.. alcoa bucking g e e trd bows ununci back. morrow, are the hmhmosonon see positive talk? apparent leewaynn washingtononon the psisility of lesess stringent governmentnt plan? >>>>> re talk ofststulus in the last few minutes. the majority leaderer i in e sesena s sing he'e'd be open t send stimulus program. let's goovover to the n ndaq an briaian. >> thank you, w might go to leleve we haven't seen since may. we'r're wnwn or a rcent. it's n not quite 2-1 so i terms of eadthitit's not a brd-d-bad selloff butut with some big names thesesepo prpronncncedweakness. microsoft has aa securityisissu and they s shey're workingng on a tch forhat they call the ze day security e elentnt but they're downwn 1.9%. yao!o! launching a n new search pad asststt.t. you u casasave yourototes an

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s ststulus package. and ee current stimulus package. is it wororki?? do weweeeeed another o o or s sd ju givehehe current stimulus pacacka more time too work out.. joinininmeme is paul cculley, managing director o pimcoco. good to hahaveouou on the prram, paul. >>>> gd d toe here, maa.a. >> let msk youbout thehe prospect of thehe broad e ecomy and wherer we are rhtht herere. this week, we began theececon quararrr earnings rororng season. ititooookelike alcoa actually came in betteter than p peoe we expectining. what is your s sen of seconond quarter earnings and h how corporate amamera a is doingigit no >> i think second quarter earnings versussececd quarter last y yrr will be down v vy meaningfully. hohover, earnings expectatioio actutual h he been revivid d upn the conseseusus in recent eks. soso i think it's g gngngo be a mixexed ba but, cleaearl earnings arere suffering becacausththeeconomy versus thehe sonon quarterofof laststyear,as been gogoin straigig d dow so i ththin the market will stst focusi

because i felt that i it s s okokay they told meme iwawas ay. debbbb s saiit was okay. anani i gothe permission from the doctor. i thinini i waso frightened that eyey wld give me some bad news.. i was so scared. but there e wanonoad news to be gotten. so i started r rivivinand i was afafid. i said, i just don't want t to hehearnynythg bad. i'i'llususgo, go, go, go. >> presumably, debbie e d d to ststayn n thhospital because she had just given birth. >> yeah, of course. . >> was she o okaababt losing the babyby aititere in the first few minutes? >> she tolold t to. >> she t tolyoyoto take the byby? >> yeah, sheheaiaid,o right ahead.d. i know that's s atat y want. m totally fine with thth.. i said, are you finene wh h th? she saididyeyes,f course. >> how long was it befeforshsh s s uned with her baby, how ng? >> o o i i d't know technically. after gettttinouout, just don't knknowxactly. i kind of forget.. >>acacks obviously liked beingng a ther. and hehe h a a sprise for me. prce and paris had recentl been joined d new baby brhe to t root. twoforms a barrier, preventing n

s sho up. and i this casese was aututo worker layoffs.. they're expectingng71,000.. but theycycle was storted due toto a the issues regegarngng e auto indndusy y ich might have given us a b bteter an expected nunumb.. up 159,000 o o continuing clai, whwhicis a better a a maybe aa mo acaccutete readf f thjob market. nonow t't'go back mark. >> thank y,, rick.. >>> cinin up on theublic private ininvemement prprraram, reaction from the securities industry and financial markets association. and we'll tkk to theead of one of the firms managing a portion of the ppip. >> that's right. he's right oututhere in sun valley. fifirs we've got th word from sun valleyey we've gott highlights, , mark, from, welel from important inrviews we had yesterdada a wh w wre expecting to heaea totoy. we'll tatake brief break and wel be back from sun vlele idaho, and the new y yk k stk exchange. f >> you're watching "squawk on e street." i'm m gujojoson in ndndon where european rkets are finanall catchingng aidid tone to

's's hd in apapication. bubut 's straightforward in coconct.t. the concept isis youryry to figure out what percentage of the e cuenen payers w wll get t be00 days liliuent, then 6,6, ththen90, then 120rks a andthen either defaultor getmomofied anand then what is the severityo loss when therere's either the reclosure and sale or r th modification. so that's the process.s. thpapart t thas hard is you're dealing withororasting a numberff variaiabl into the fututure. the so-calledollrarate at which people becomeelinquent and ththenthe timingng of whenhat t getsts crystallized and the severity of loss. so you'v'veotevever very big variabableththatou need to take to account. we feel we'e'n a particulullyly good position to make those dgments cacausamong other thingsgs we have ameriricahohom mortgagage t rgest dependent servicer of nnprprim paper. ey're servicing o orr a halalf mimilln loloan aggregatiting ov $100 billion. so will have pretty good inghts into what's going on with eachofof these tic productsts i each of ththe mark. >> wiwiur, how ds the

s? prumuminthese guys heemore control. >>elel in a s sen you're right. t you have to looook athe fact that t the a a many small cotries that don't't d very well.. so the mereact you'r're sll isisn'a guaranteeee o o sucucce. the c couries who r reay c ce to ththe fe are not simplply small that thehey nn exercise momore control, but they are e ab t too that. >> what is the situatatio with ththununit states? th've got a very conducive businenessenvironment. why don't they ma the p n? they're a huge global tradadin nation, i memean the bieses an right. they're -- wnn we lookok a at e inindes,s, tre's some weaknesses in the united states. ininhehe fst place,e take account of access toto foreign markets. and it turns outlthough t ty y have aew preferentialal trading arrangngemtststhe united states cesrelatively high barrierss around the world. ththsecond weaknknssin the.s.s picture frfromhehe sndpoint papaicicully of bususinss is tht they have m mearere gearedd at fighting terrorism a a imposi

ed or didinaly, it s shodd be scary toto seeee s s many ceosi tskhinvali. they don't know the skny, who does?? th guys at the topp are often the last too know.w. they are so high uu so insulalatefrfr the ranank dd fe ththturn a arodd begegss withou themem. case in point, january 2003, i met t thth denens senior s sui at a f bigger o o in switzerland. i even wtete about itt on forbes.comom tired andcrcran in das. ththee guys were i in a stete of terminal epepreion, theech bubule but, enron scandal raging, andraqinvasion imminent, , we were still hurtig from 1111 more than a y yea before that. janunuy,y, 23. look a at this stock chart. ound the time t the were so prpresd to our market higigh mid-october, l right.t. stococent up, s&p 500, veryy broadindex,72%, lieieand gentleleme in that nice ssss than five year peperi %, that is anan average annual return 1212 per r ye over that entire time right t wh thoseeosere elelinso depressssed itit'sbeautiful beautiful thing. i keke avavin out whahat folloe but wt follolows can always lead to the next i if only we work

s s e limitited potentially? she was thrown outthere, raake over the ccls and thehen bcame a media joke.. and now ththisss costingngher. >> people on both sidess jt for her and aainst her and talking out this off amamer no, this is the first wmama in power with sexual apapal. ii nknknowt t sods crazy. memen n't know what to do with it. men n dot t kn what to do with it. we're useded tsesea woman in wewer nonthreatening -- >> does thatxpxpin your rabidndns?s? >> no, just think s's quitting. i think she's benen compelling fifigu.. think the a amecan public -- ii think theemedidi think pplpl inowower on bothidesidn't knkn h howo file that and that's why she causes this s ki o of craziness inin people. an-- >> bececsese of sexual attract? >> whether it's obseservoror i thinink ee is aascinating gure because of that reasoson. >> uh-huh. >> nobody says it. >> do you wantnt tgogo there or should think. >>>> idid read an op-edthis p pt weweend, somebodyalalng about that she was one of the younger national f fures folollo

and then i goto s s the geusus of michael j jaconon. heheasas s iincdible, he alwaya hadd commanand n n onlyy the nd, hisbrothers,utut also the audience. i truly believe t tha michael made me a btttter point guard ad basketball p pyeyerasas i watch hibe so b bveve and the greatest eteteainer ever. from there, michael callededme onday and said, i i wt t t t ta to y y a abo being in a video. "r"rembebethe time." but i had to double-check witht jajack t tmake sure it was ally michael. because i was ared to atath to go over to s house, beuse ththisas myidol. was everything tome. so i went er to h his house t have dinner. the chef came ouou and sa,, what would you like?? sosome grilled chchicn. so a as we begin talk a abo te video and wtt he wantedee t , the chef brought me out t ilild chicken, b but he brougug michchaell out a bucket of kentk fried chicken.n. and i went cry.y. likekemichael, yo eat kentucky fried d chickcken that made my da. thth w washe greatest moment of my life. wewe h sch aoood time siining on theheoor, eating that b bu

many interpred this dedecision today, on ththmonday, his first day ba from s tp overseas,s, was to keeeep theexcitement behindis commitment to h halth care higigh onis agenda. mymyorry i that i ithe hill today i watched senatotoatch cacame on tonightht a sd they just votedd narrrrlyy oneote with bob casey ining his side, to nonot exclude abortn from e healthare coverage off this new plan. i justst think it mht be a deal-baker to include abortion whwhen theresident says he's going to reduce the nunuer of abortions in thiss country, through noncoercion,obviously. w can he do that and sayay i'm subsbsidizinit at the same time? >> i think it'ss aifficult oblem and this isishere a lot of wen's groups are goinin to look a him criticallyy to see if he'smaintaed hisampaign promisto push forwardd their issues. i think he's going to he a fight. think e of the reasons he came on mony, in the middle off the confirm hearings, at is he kn america was watching and at he wants too demonstratate that he's a multi tasker. i think it demonstrates that h h believes sotomayor is goingo get confirmed ratathera

isis i because youou s s se --- you saw s see new synergies s tr you didn't't s earlier? what went ioo that? >> well,hat's why weouou afford to do it, jijim. but, of course, , raeded the bifor t only rsoso anyone ever does. we raised the bid bececau w we d to if weweananteto win. yoknknow you do these things because you must. but weweerere able to doit bebecae e we identifiedd substantially morere co side synergies. anwewee trying to shareethem twtweethe invesesto of the t t companies. >> you saiaid isiss your final bibid. there any chchcece y may be able to go ba,, reasssss s anraise your bidid o m me time sm? >>>>well, we're not chasising this is our bibid. there's always chance i if somebody showsws a adadtition wy to create value, but only to close. and d itasas to beeaea vae.e. i've b bee running utilititieow fofo2525 years. i've nene it by constantly ying attention, to keininthe lights on for customeme a and adding value f for investors. m not giving thahat up wn i'm 64 just to a auiuireome other company. fofor , this i is out value. it's about valueuefst. it a aut

there's s mo g groh potential. and there's a l lotf people w w want to woworkarar to have everythihi t thawe all have. >> you have a rather coconctrtred rtrtfoo. t to0 stocksks in that poportlio. has thatheheed you or h hur you in this cycle? >>>> wl, i think lasteaea it alalmo didn't mattetewhwhat you owned. fact, inn many cases, qlility securities went down evenorore cause people could s selthem.m. i think comingngutut of th,, its helped us a bibit. >> individidua investors who wee dollar c cttavavaging through ththisave had stomach an awful lot of v vatatily in the last s six months.s. did they say the course? is thatwhwhat you're dodoin >> yes. we ha dollar cosostvevera investors who have m mad money the lalastererd of timime who he been smart e eugh to keep going. we think there's'srere portunities out tthe. lifefe wl l onon bibill kids will e e chococola bars. you know, pelele are going to wa jewelry. you owow there's's gngngo be lot s sff examples arorodd the woworlofofhuman wantss and n nd that are goingng

's's incredibib ppornt. atathehe se time we can't take th o outgainst the entire cia, e heads of thennteigence cocoititteand congressavav been very clearhat if anything went wrong i it sese aions of few officersrs, w w not something sysyememic this wasot something that ththe cia conspired as an gagazation toto mislead coress. atat a big differenencendnd something g h hav to keeeep in mimi. . >> evancolemanan,hahankou so much. we apprerecieeit. tamronon, evan is a absutely on soththin the cia doeoes have hababit of i ththin t tt are not necessasalyy in the public's's ierert. that's w whyonongrs has ersight to begin with. if congress is n getting act information from theheciaa that a problem. . >> it is interestingngowow t republicans s artrtrng to make isis aattle between two democrat, panetta and lolo when thehese actions w we e tan duringng aififrent adnistration and it iss t didiffence of previous administration, the bush administration t ttt'soing on here. soso tt't's an interesting dynac they're trying t

a hundred on the s and p said another hundred points is in the cards. before the next holiday for labor day? the moves happen so fast of most could take weeks to months if not years it can definitely happen we're kind of in a range right now but we're crevice id to the lower side. the they're ready to take over? absolutely at the fundamental show was that the s and p numbers that were out for the second quarter of the year we're going to see are going to looked dismal and the third quarter is not one of the better. the question of how far how fast whether we get there before the end of the summer holiday it is very very possible it does feel like it could happen at any moment and we were here six weeks ago there were some geopolitical factors those haven't gone away. the odd scenario where the demand equations seems to be falling apart and from of our eyes is about ready to play out. what has changed significantly back in march some banks came out and said the beginning of the year was one to be nearly as bad as the fourth quarter ended get everyone exc

>> as we likike s s down on the fish farm, there's notothi q qte so dead d as d deafish. anthth is a dead fish of an n idea. look, there wewe c clu in this campmpai.. i don't know if you reremeerer atat wle fruit fly incident t thth i loved so much. this wasasotot seone who took thjojoseriously, the candidadacy riously. didn't benefit frorom l l ofhe resources that a a nioiol presesenenti campaign could and would throw w aterer and itit q qui clear from what we s sawrorom dd purdum's fafabuususiece in "vanity fair" that she didn't want t tprprep shwawas zy, she was ignorant.. look, shshe snsn ready for imimete. i'm not sure shehe w r rea for daytime. >> what idodon't understandosos all of thths. peperhs will leave the possibility here o ope that t t rest of itit, it's me, nott her who's s nott makingsesens hee,t this one point abtt her h htrtd and her c cviction that t the instream mediass here to didistt what she has to say. yet, on the other handndshshe could not resistst iininting repoports s toalk about what she had to say, how exactly dodo tse two -- thahat'anan epha

merededitvivi onbarry's s inrorole with the law aa. s. park police inaashgton sasay barry wasas a arested and charged for stalkingng a woman. police say the f fmer marho currrrenyy d.c. councicil memeerer w charged w wit mimisdeanor stalking and released. 1990 barryry w arrststedor possssesngng cck caine and tetesentenced to sixoont in pronon >>> new ththismomonining access hollywood reporting thehelos angeleles ununtyepartment of chdren and family serviceces conductingng aininveigation into ththe lfare of michael l ckson's ththreyoung chihireren. the investstigioiowill reporteded i incde looking i it etethethose childrere h any exexpore at all todrug use byy their r faerer i their h hmeme whwhwould care forr tm if the childrenen'sgrandmother kherine jackson was nott a aeto look after eem. joining me f fro clevelala,, . mcddav,, cld advocate at rarainw babies and children's hospitalal. good morning, doctor. what do yoyou inink of the department of childreren dd mily serviceslooking into this sitittition? what d do u u ink they'll b lookin

if we break thth w we could s s llllin prprsusure >> is there anany bright s spo ththe?e? whenen wlolook at the s spefic sectctorwhwhattands out? what is surviving? >> chip s sckcks e doing well. bank of america, merrill lynch, grgrou grading. they upppp intntel and others.. they seee a an opportunini t to continueue owning these i int t third quarter amaybe a21% improvement t erere ere before, the scks movedaybe 14%. that's chahangecause they alreadyovovedup. the other i intesting thing is that health care. the mos a on firee a and in rtrt becaususe t the talk cominggut of washington. we're heariringhehe esident and saw a couple o oeadlines wherer he sasays there n nee to be public plan.n. but rahah emanuel an i was taing withohohn sullivann dd i wa saying, w wtt about this talk about the stimulus? is that potentially positive?? in s see ways it is becacausifi eyey ph for stimumulu th puts real rrorm, perhaps, clerer to the back burner. so apart f froeople looking forea safe haven,ththe's positive talk coming t.t. >> also,,ee should pot out th commodities for the trd stra

and i i think it was s so appropriate on s smamany levele. >> you knknowsrrobly the onon panel member w who wteteto marry y miaeael jackson asas a teenage girl, afterr seeing mm on ff the wall" a andaving his posters on wall and lelebring him in our homme, i reremeer my parents and watching that 25th anniversasa when he didthe moonwalklkyoyou ow, it was nice tooee his frieiends,isis fafans his famil able too h hor him i in way y would all love to honorurur frnds and have our fends and family hoonorus someday. ii gue a a a kid wh wanted t marryy micelel jackson a w loved the jacksoson5, it't's g toto s him be able be spected in the end by y osose who loved him.m. >> and courtneyhayswood w hahave bn n th us througugho,, letmeme get yourinal impression.. >> just seeing the amily, after parispoke on t stage tothth, that giantnt group h d you heard thhem bore as lilighskskind, they're not ghght-inned, they're caucasian. ththeye white. this is a blendedfamilly, a and they l le e ea other, anand they're going to b b withh each other going forward throrough is emototnanalltough time into t te

let's s keke a look athese. first, b becsesehis is"the sese block"k"ndnd ion't want you to be oblivivio t tsuch a bullish cacall firsrst haha to say, i digrgr. we alwayays vovor diversified portfolio. that's why every w wen w wplay "am m diversififi?"?" i wouldever advocate getting g rid of all all mydefensives. hohow ououthe individual stock he's kicking outut? i would not sell t t o onewith theacacdentally high ieield atat means you u shldld kpp verizon? spice of thisantiti-binins, antitrust tata from the obama juice department. and i keep bristol myers w wchc my chariritaee trustst already poensitith 3.6% yield. an jusust ugug more of it because ofoftsts ai-cancer portrtfoo.o. those are toto attttraivive sell. onhe other hand, i undereranand his desire too sell microsoft bebecae the newfound compmpetioo from goog wl l itopop source opereratg g stem will hurt softy's gross margins down the road. i bebelie e fier is a sell. i n'tarare much for ee wyethth acquisition. ankly, the comompa i ijust not at well run.

among his s gos,s, mendndin relations s thth mcow, relatiois the presidenensasaid wornene unundeththe evious administration. another good mornrng,g, mikike. i kw the presesenent has g got s work cut out foror h, , prsing the e rerese tttt, as hesaid. right? y y mentioned t the prereouous adadmistration. w waseorge w. bush who fausly that said he lkeke in vladimir putin's eyes dd sasaw in h h soul. burelations between thehe united steses a russiannhat prioio administration not a all ey could be. so y,, theobobam administratioio trngngo press the reset buttoto but inn very ovovocive conversasationhahathe president hahad th the associatedd pssss just a aewew d days go, he s sd vlimimirutin is no l lger t the president, is nowhe prime nister but ststllery influential in usussi putin still has a foot in the old ways of doing business, ose cold war ways o of doing busineness but the presidenenisis going to sit down withh putin's ha-p-picd succecessor,, dimitri toto medvedev. theyl l lk about a missile fense system in easternn europepe. all of these t tngngs have russ upupse they'll bee on t

send us s an eail. juju s so you know, i read ever e-mail that ceses ross the inbobox. i'm not kidding you.. optionsaction.cnbc.c.com that's our chahanctoto ecate you.u. that's right after thehe sw.w. >>> time now for the fal call. the last wd from the optio pit. stacy, kick itoff. know what you have and have a plan. >> szott? >> i like ge'strength. i can ow that from no >> i like buyin that bank of amica july 11 put that expires on expiration on the day they rert earnin for 25 cents. >> mike? >> i'm goi t go with the b.a.c. put buy. >>> looks like our me has expired for ptns action." r thanks to the trader. i' melissa lee. we'll see you bachere next week. have a great week, evebody.

the s&pp pickedup 2 points. the nasasqqasoff by9. >>a favorable report in the s. service sector helplpedururn things a aunund is afternoon a reining 47 owing that t the sector i iststil slowing but ata owowerhan expected pace. theeeice seoror accounts fo about 80% o of e u.s. economy. > oil pricess t tuled more than 3% to $ $64 a a barrel onnoror t isis tconomicecovery could bebeslower than previously ancicited a unemployment rose. and commentssrom vice presiside joe biden alsoso fueledednvnves concerns. deden ys the admmisistrion, otot sread the depths of economic tououbl innriritefrom the previous aininisation, but ooood the $787 billionn economic stimululus acacge. that's's irom cncnbc first i in bubusissss worldwide. noback to "hardball." >>>>> lclce back thahardll." wiwiers of the 17,000 seatstsoo michael jackson's memorial rvice began picking upupheheir tickets today,y, anduundds of ouousas are expecectetoto descend onon downtown los s geg tomorrrrow nbc's s riris jansing is tside etaples center and she'll b be anchororinmsnbc'sovovere of michael jackson's m

temperatures will quickly rebound to the 7's and mid 80's. some of us could see 90 degrees -- temperatures will quickly rebound to the 70's and mitt mid 80's. a cold front moved through yesterday well to the south of us. do not forget the sun glasses. you'll need them this afternoon. high temperature around 88 degrees. warmer closer to town. upper mid 80's tomorrow with mostly sunny skies. let's get an update on this morning's rush hour can you. >> we have plenty of traffic this morning. everyone is behaving. 95 out of dale city to get into a fortune. we have some cameras. here we are at the beltway in maryland leaving new hampshire avenue, just starting a back up to get to georgia avenue. 270 in urbana it is what you're watching live. the slow down is southbound to head to one 09. that is aboutut p >>> as you probably know, it is the time of year when they do the running of the bulls. this year it turned out very tragic. one person was gored. >> it was a different sort of running of the bulls in new orleans. the bulls were actually roller gi