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tv   MSNBC News Live  MSNBC  April 22, 2010 3:00pm-3:59pm EDT

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a free market was never meant to be a free license to take whatever you can get however you can get it. >> tough talk on wall street. president obama proposes sweeping financial reform but what's it mean to main street? on the verge of collapse, an oil rig in the gulf of mexico could sink into the ocean. that is the latest fear. we've got a live report in moments. yeah, what a riot. security guards run for their lives after hooligans at a soccer game get rowdy. and royal wedding in the offing? new speculation today about prince william and his long-time love kate middleton. and a good afternoon to all of you. i'm alex witt. thanks for joining us. president obama traveled into the belly of the beast today
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paying a visit to the center of the financial world with a speech delivered at cooper union in lower manhattan. he is trying to close the sale of his plan for the reforming of the financial industry. here is the closing they heard today. >> i believe in the power of the free market. i believe in a strong financial sector that helps people to raise capital and get loans and invest their savings. that's part of what has made america what it is. but a free market was never meant to be a free license to take whatever you can get however you can get it. it is essential that we learn the lessons from this crisis. so we don't doom ourselves to repeat them. make no mistake. that is exactly what will happen if we allow this moment to pass. and that's an outcome that is unacceptable to me and it's unacceptable to you the american people.
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a vote for reform is a vote to put a stop to taxpayer funded bailouts. that's the truth. end of story. and nobody should be fooled in this debate. >> nbc's ron allen joins me live from the new york stock exchange and, ron, a good afternoon. we've gotten the news that the first vote to start debate in the senate now is scheduled for moay00 p.m. that's what's going down in washington right now. how about the president's speech on wall street? how was it received? >> i think a lot of people thought it was going to be tougher than it was. and a bit of relief that perhaps we're getting past the us versus them, main street versus wall street i hear so much about. dave henderson is a trader here. your take? was the president, did you agree with what he had to say or think he went too far? what are your concerns? >> i think he gave a great speech once again. he always seems to give good speeches. he is a great orator and comes across well. what remains to be seen is what
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is going to come out of this and what they'll put together down in washington. >> he says he is for free markets but not people being able to do whatever they want in a free market. you were talking about how this place is about capitalism and growth and free enterprise. are the two not compatible? >> they are definitely compatible. we are one of the most regulated ninds the world as it is today and maybe there are some things that got out of control and out of hand and maybe a need for more transparency of which he was talking about which i agree with and a lot of us here agree but you have to remember that wall street and main street are very industry twitertwined and wouldn't be main street without wall street. >> reporter: i think there is a perception in the world out there that wall street is not regulated enough and that's why the financial crisis happened. >> i don't necessarily agree. i think what happened was rules of the game changed down there in washington and when the rules changed, wall street adjusted to the rule changes and did what they had to do. most of it has to do obviously with the mortgage situation and what happened. i think that they came up with products they were able to sell
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to the world. things that are rated triple-a and what have you and i think it worked very well for the moment obviously. everything then blew up so it needs to be addressed. i think what they're doing is the right thing. >> we'll see. of course the big issue here i think alex is the senate bill and what's in it. and the particulars people here are concerned about what the new rules of the road will actually be not so much what the president is saying in a speech that people separate, try to separate the politics from the real business of it. alex? >> absolutely. we'll see how that all goes down on monday. perhaps a test vote to see what harry reid does with that after the fact if he's got the votes there. thanks so much from wall street. for more on what this means from wall street as well as for you the average american let's bring in our guests. shwe have dylan ratigan of course host of the next hour at 4:00 p.m. coming up right here on msnbc. art, i'll go with you first. here is the question. after listening to the president, how confident are you that his plan for reform has got
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the teeth necessary to prevent any sort of future crisis that led to this one bailing out the big banks? >> i don't think it does have the teeth to do that to be honest with you. i mean, larsonous behavior exists and i don't see how you can really effectively control it. i like a lot of what he said by the way. i love the accountability, the transparency. and i also like the idea of washington reform. but i really think he misses the boat when he says we had to bail these banks out, we had to use taxpayer money. there was no reason in my mind why we should have used taxpayers' money in the first place and there's no idea in my mind that anyone is too big to fail. the only reason they're too big to fail, alex, is because the government believed they were and then used taxpayers' money. that's where i stand on it. >> so you think some of the banks should have gone under? >> oh, i believe they should have gone under right away and i
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don't think the government should have used t.a.r.p. i think bush was really a mistake in putting t.a.r.p. in and i think all of the bailouts were a real mistake. >> dylan? >> i agree with your assessment that this doesn't prevent future catastrophe as long as you have too big to fail institutions or at least the perception of too big to fail institutions. you will always have the implicit guarantee, excess risk taking and exploitation of the leverage over the government, the democrats' plan minority republicans' plan solve this. it just creates a two class banking system. and the other thing we did not hear and i agree with art, transparency, huge movement, but the cops still work for the crooks. >> exactly. >> the incentive system is still set up for the ratings agencies and the regulators to be incentivized to get money from or jobs from the very people they supervise. until you get to the root of the evil, which is the inherent conflict of interest, in that people make money by being corrupted by those they are supposed to be policing, you will not solve this problem. >> so then if the ratings
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agencies are still working for the banks, how do you change that up and what does that mean for the folks on main street. >> art, go ahead. >> i don't know that the rating agencies only work for the banks and the regulatory agencies only work for the banks. >> it's where they get their money. >> they do get their money indirectly from the banks. that's true. but the regulators also get their money indirectly from the banks. the congressmen and senators. >> exactly. >> you saw how much they've contributed to every democrat and every republican. goldman sachs gave a million to the president. i mean, you know, there are obligations that come with that. >> that is the problem. >> that is exactly the problem. you and i are right on the same line. >> until they separate bank money from political theater so bankers can stop calling treasury for new accounting standards which creates opportunities for people like john paulson and goldman sachs to say this is a pile of crap, let's bet on it, let me ask you
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a question, art. you say let them fail. >> i do. >> the argument at the time was once they take care of bear stearns, let lehman go, the argument was if we let lehman go and don't set a fire wall, merrill lynch goes. if we let merrill lynch go morgan stanley goes. if morgan stanley goes, general electric goes. if general electric goes, goldman sachs goes. if goldman sachs goes, jp morgan goes, and at that point you've lost millions of jobs, millions of pensions. that is the implicit leverage. >> i understand. >> that these banks have. so how can you revert back to let them fail as opposed to break up the banks? >> dylan, let me just use an example if i can. i may be wrong on this issue but i try to think it through as best i can. in 2000 we had a very similar situation to the crisis in 2008. only in 2000 we never brought in the t.a.r.p.s and all these other programs and we barely had a recession. we had a huge collapse in the
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financial markets. we had a redistribution of assets and the system came right back. this time when we put in t.a.r.p. and the stimulus packages and all of these bailouts, what happened is the system then compounded on itself and became a depression. and that's what i think caused it in my view. >> the one distinction between 2000 and now is in 2000 the commodity futures modernization act had not been passed, glass/steagall had not had time to be repealed and banked and there wasn't a $600 trillion secret betting parlor that had come to develop which created the linkage that threatens general electric, goldman sachs, jp morgan. that's good leverage in a room with a politician. >> but i don't think that would have spread, dylan, i really don't. you may be right but i don't think you are. i think what would have happened is we'd have had the financial collapse tlchlt would have been a redistribution and the unemployment rate never would have gotten over 6%. my view of the world. i could be wrong on that. >> instead we get a government-facilitated wealth
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extraction the largest we've ever seen in the history of the world. >> i agree with you on that. that is amazing. >> we'll end on that agreement point. art laffer, dylan ratigan, can i have three or four minutes at the top of your hour? just kidding. >> yes, please. i love it. >> art, too. >> all good. >> do be sure to catch "the dylan ratigan show" coming up next with reaction to the president's speech from congressman mike pence and democratic senator richard durbin. meantime, existing home sales took an unexpected jump in march. home sales rose 6.8% last month reversing a three-month decline. in fact, sales are up 16.1% compared to a year ago. much of this is due in part to home buyers racing to take advantage of a tax credit that expires in april. let's go to the coast of louisiana where an oil rig that has been burning in the gulf is sinking or really has sunk pretty much today. right now we are awaiting a news
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con frenls. 11 workers are still missing. coast guard helicopters have been searching all day. nbc's jay gray is in belle chasse. with a good day you to, what's the update? >> good afternoon, alex. >> reporter: i'm just outside of new orleans and this is the joint reserve base where the rescue teams are staging and moving out 50 miles into the gulf. so far today they have combed the area to no avail, found no evidence of any more survivors from that blast late tuesday night. as you talk about the fire that burned for more than 36 hours, ultimately collapsed that rig. it's fallen beneath the waters in the gulf and that presents what could be a very dangerous environmental situation. they are assessing what's happening there. but continuing with the rescue effort and that is the primary concern at this point. 11 men still missing. at this point rescuers understand that time is running out, that the window is closing on finding any of those men
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alive. they say the conditions are perfect, though, the seas are very calm. the water temperature is very good. and so they'll continue to search until they're told there is no chance that these men are alive. again, this is continuing around the clock. right now one helicopter, one fixed wing plane, and three coast guard cutters in the water, all looking for any signs that there may be more survivors. overnight more than 100 survivors were reunited with their family members. 17 people were taken to hospitals. most of those treated for cuts, scratches, some broken bones. three remain in the hospital today in critical condition. it's a situation that continues to change. as you talked about, we should get more information in a press conference coming within the hour. >> okay. jay gray from belle chasse thanks so much. time to go across the usa. first to tennessee where nbc news has confirmed sarah palin will testify in the trial of a college student charged with hacking into her private e-mail account in 2008. her daughter bristol testified
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she received countless phone calls and text messages when her phone number was posted on the hacked account. the defendant faces charges including identity theft and wire fraud. in texas at least 60 passengers hurt on a carnival cruise ship are back home now. the passengers suffered minor injuries wednesday when the ecstasy maneuvered sharply to avoid a partially submerged buoy near the yucatan peninsula. in arizona this morning a violent home invasion quickly escalate nood a rad into a ragi fire. two suspects broke into the home in phoenix and took a hostage. they set the house on fire and walked out with the hostage. police fired killing one of the suspects. the second suspect ran back into the home. no word on his condition. today there is unprecedented legal action against the vatican in the sex abuse scandal. the lawsuit comes from a milwaukee group involved in the case of more than 200 boys abused at a school for the deaf. the main objective of the lawsuit? to compel pope benedict to
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provide the names of all known priest sex offenders. today the pope accepted the resignation of irish archbishop james moriarity for his part in a coverup. a german bishop has offered his resignation following allegations he abused children several decades ago. on wednesday the pope promised the church would take action against predator priests. a severe spring storm is moving across the country. tornadoes may be on the way. we'll tell you who will be affected. just as flights finally get back ontrack overseas a new plume of volcanic ash is closing airports. we'll get a live report from iceland, next. they're flying into london today. that's a good sign. flying into london. as a matter of fact, earlier today, early this morning captain sullenberger actually landed in the thames. the airlines lost $2 billion. $2 billion. usually all they lose is my luggage. hello? (laughing through computer)
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good night, buddy. good morning, dad. (announcer) oreo. milk's favorite cookie.
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♪ on this earth day we're getting a rare look at the sun. these are the first shots nasa's new solar dynamics observatory satellite took, just launched in february. nasa says the snapshots will change our understanding of the sun and how it impacts our lives. well, some airports had to suspend flights again today because of the winds blowing ash over scandinavia. scientists in iceland say the volcanos produced little new ash today. nbc chief science correspondent robert bozell is live there in iceland today. what does it look like on the ground? >> reporter: a little cold on the ground but the volcano is shrouded in clouds so we can't see it. the radar from the icelandic
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meteor logic office indicates the plume is going up to about 10,000 feet here and the winds carry it higher still as it goes towards northern europe. that's why it's causing problems at the scandinavian airport. this has been pretty much a constant, steady eruption since monday. there is no indication of when it's going to end. but it seems to be that the explosive phase we saw on the weekend is definitely over and now we are having this constant flow of ash that's going to continue indefinitely maybe for weeks until the volcano decides to calm down. there are 34 other volcanos in iceland so the situation that we've seen here with this one is something that's going to cause other problems very soon in the future annal lot more thought i think will be given to how to deal with ash disruptions in the very crowded air space over northern europe i know one they're keeping a close eye on is that katla volcano. thank you very much. >> well, katla is quiet thank
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goodness. >> thank you. it is spring storm season and more severe weather is blowing in from rockies to the east coast. in colorado, marble-sized hail blanketed the denver area while strong thunderstorms caused minor flooding to hit other parts of that state. let's bring in the weather channel meteorologist chris warren for the very latest look at things out there. how goes it? >> well, alex, so far a pretty quiet spring storm season. that is about to change. in fact, already some storms firing up. you take a look here at the map, the big red box you see there is tornado watch. now, the small red box is actually a tornado warning. you can see the southeast part of colorado right now under the gun and much of kansas. the threat tonight continues throughout much of texas, oklahoma, continuing into colorado and kansas looking at large hail, possibly golf ball sized hail coming down out of the sky. then the threat moves off to the east during the day on friday. what we're really worried about here is that dark red.
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you see that friday night into saturday? that is the potential for some storms. even tornadoes happening during the overnight hours. since it has been such a quiet season we're worried that many people might not be prepared. we have a significant event possibly on the way the next few days. heed notice here and get your plan into effect. make sure you have your batteries in your weather radio as well because things could get nasty over the next few days. >> thank you for the heads up, chris warren. appreciate that. still ahead a college baseball player flipping out on the field. this athlete brought a winning gymnastics move to his game. looks like it hurt, though. up next, we're joined by a special guest on this earth day, alexandra cousteau the granddaughter of the legendary under water explorer and is going to tell us how she is carrying on her grandfather's legacy. time for the your business entrepreneur of the week." dave dahl of oregon rebelled against going into his father's baking business and turned to a life of crime and was
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imprisoned. after his release his brother glen gave him a second chance and he created dave's killer organic bread which is now in more than 150 stores. for more watch "your business" sunday mornings at 7:30 on msnbc. i'm ed whitacre, from general motors. a lot of americans didn't agree with giving gm a second chance. quite frankly, i can respect that. we want to make this a company all americans can be proud of again. that's why i'm here to announce we have repaid our government loan, in full, with interest, five years ahead of the original schedule. but there's still more to do. our goal is to exceed every expectation you've set for us. we're putting people back to work, designing, building, and selling the best cars and trucks in the world. with our 100,000-mile, 5-year powertrain warranty to guarantee the quality. and the unmatched life-saving technology of onstar to help keep you safe.
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from new energy solutions. to the designs of tomorrow. we invite you to take a look at the new gm. boon motorcycle insurance, rv,at geiccamper, boat insurance. nice work, everyone. exec: well, it's easy for him. he's a cute little lizard. gecko: ah, gecko, actually - exec: with all due respect, if i was tiny and green and had a british accent i'd have more folks paying attention to me too... i mean - (faux english accent) "save money! pip pip cheerio!" exec 2: british? i thought you were australian. gecko: well, it's funny you should ask. 'cause actually, i'm from - anncr: geico. fifteen minutes could save you fifteen percent or more on car insurance. medication to lower your bad cholesterol but your good cholesterol and triglycerides are still out of line? then you may not be seeing the whole picture. ask your doctor about trilipix. statin to lower bad cholesterol, along with
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diet, adding trilipix can lower fatty triglycerides and raise good cholesterol to help improve all three cholesterol numbers. trilipix has not been shown to prevent heart attacks or stroke more than a statin alone. trilipix is not for everyone, including people with liver, gallbladder, or severe kidney disease, or nursing women. tell your doctor about all the medicines you take and if you are pregnant or may become pregnant. blood tests are needed before and during treatment to check for liver problems. contact your doctor if you develop unexplained muscle pain or weakness, as this can be a sign of a rare but serious side effect. this risk may be increased when trilipix is used with a statin. if you cannot afford your medication, call 1-866-4-trilipix for more information. trilipix. there's more to cholesterol. get the picture. there you see alexandra cousteau and a few friends ringing the opening bell on wall street today to celebrate the
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40th anniversary of earth day. alexandra is the granddaughter of the legendary explorer and environmentalist jacques cousteau and the founder of blue legacy dedicated to the conservation and management and protection of water resources around the globe. alexandra cousteau joins me in studio after a long day thus far. thanks for being here. >> it's a pleasure. >> a big day for you. you came to ring the bell. how so? this 40th anniversary they tapped you for it? >> yes. i am here to celebrate at the new york stock exchange and it was a wonderful day. >> you had a lot of power players. it was quite a diverse group. which really speaks to the issue of blue legacy. this is an issue that none of us can afford to ignore. talk about how you started this. >> well, water has always been an important part of my life. >> sure. >> coming from a family of explorers and having grown up with my grandfather who taught me to dive when i was 7 years
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old it's been a wonderful adventure to explore our waterways but i've seen an enormous amount of degradation in the time i've been out there looking around. so starting blue legacy was a way for us to engage people to understand water issues and the interconnectivity and how we can all be part of the solution. >> i'm sure a lot of people are thinking what was it like to be jacques cousteau's granddaughter? you learned to dive at 7. what is your most significant memory of your grandfather? we all have our own certainly watching him over the years. >> i went on my first expedition when i was 4 months old. being out in the field with my family was very normal for me. i was blessed in that way. my best memories of my grandfather are really the simple moments when we'd be walking down the street together and he'd be whistling a tune he made up in his head or when we would go have hot chocolate at a tea room in paris. those are the precious moments for me. >> i should think. let's look at the message from blue legacy right now. if we look at a map we'll show
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parts of the world that are most impacted by water problems. you look at this. it is a global problem. how can one person make a difference? >> there as lot of ways people can really have an important impact on our water resources. i would say the first one is just to understand your personal water foot print. teach your child when they're brushing their teeth. that water is a precious, precious resource. understand the water shed that you live in. >> meaning what? i live near the hudson river for instance, a place, trying to protect it and clean it up. we here in new york city are familiar with that. is that your local water shed? >> it's where your water comes from and where it goes and that can change from one community to the next. some people live near a coastal area. some people live on a river or wetlands. so getting out and exploring water resources of your
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community and what is threatening them and how you can protect them is really important. >> you say learn about the global hydrosphere. it sounds like big lingo and some people might say i can't figure that out. >> we all learn about it in grade school. it's the water cycle. it's how all of us are connected by water as it flows through our world. it goes up, comes back down. it is a simple thing we learned about when we were little and we forget it all too often when writing policy for it or making management decisions or using it in our own lives. we're all connected by water. that's the most important message we have today. >> i'm very grateful for you to come and remeend us of that. we are all connected. we all have to deal with this issue. alexandra cousteau the founder of blue legacy thank you so much for joining us on this earth day. >> thank you. still ahead, a royal engagement is one on the way? new details about prince william and his long-time girlfriend kate middleton. there are reports wedding bells may be in the near future.
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powered by the wind on the plains. there's a hospital where technology has a healing touch. there's a factory giving old industries new life. and there's a train that got a whole city moving again. somewhere in america, the toughest questions are answered every day. because somewhere in america, more than sixty thousand people spend every day answering them. siemens. answers.
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i'm julia boorstin with your cnbc market wrap. let's look at how stocks are trading with a half hour left in the trading day. dow-jones industrials are up about 11 points. s&p 500 up nearly three. the nasdaq up about 15 points. us airways announced today it has halted talks with united airlines over a possible merger. us airways ended months of negotiations after continental airlines renewed its own talks with united to merge with the company. a new sign that the labor market may be improving. the labor department says initial claims for unemployment insurance dropped 24,000 to 456,000. that's it from cnbc, first in business worldwide. alex, back to you. >> julia boorstin, thanks for that. here is a look at what we're watching for you right now. a showdown over wall street is set for monday on capitol hill. will the president's tough words
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bring lawmakers together on financial reform? plus, the debate in california over which teachers should be laid off. should seniority be the sole criteria for letting go of teachers? and the fight for same sex rights. elton john's husband joins us days after president obama extended hospital visitation rights to same sex couples. well, it's been seven years since prince william started dating the ever so stylish kate middleton and speculation about a royal wedding is hitting a frenzied peak leaving many asking when will he pop the question? nbc's dawna friesen has more. >> reporter: they make a picture perfect front page and this time it's "people" magazine predicting prince william and kate middleton are poised to announce their engagement. >> i think one of the reasons why so many people feel that kate is the one for will is that in seven years of dating she has never once put a wrong foot forward. this is a girl who knows how to be a princess. >> reporter: "people" claims he has become so close to kate's family he calls her father, dad.
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britain's tabloids have been predicting the impending nuptials of will and kate for years. this headline is from three years ago and four years ago woolworth designed souvenir china for the wedding. the actual date was missing. these days they're seen at other people's weddings and some including princess dana's old friend tina brown at the daily beast predict william and kate themselves will tie the knot in november. some royal watchers aren't so sure anything is being decided. >> he will make this decision along with kate middleton. of course he will consult the queen and prince charles but he won't be bouwing to media pressure whatsoever. >> reporter: they've been together so long it seems they're already married. said to be very close in private, in public they are discreet and rarely get caught on camera together. she's endured intense media scrutiny. at one point hounded so much she sued, claiming invasion of privacy. something they've both tried hard to preserve. >> it's really between me and myself basically. >> they both know the chaos a
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wedding will create. >> i think once this engagement is announced and once the wedding day arrives, you know, suddenly the gloves are off. the desire for pictures is so great that people go to every effort to get them. >> everyone will want to know every last detail of that wedding and of course when will the children be arriving? forget it. once they get married, their lives will never be the same. >> and the palace of course does not comment on speculation though there are hints prince william is no hurry to put a ring on kate's finger and she is in no rush to change her lifestyle just yet. one thing for sure, that speculation is not going to stop any time soon. let's go now to the fastest three minutes in news. we go "down to the wire" with confused fish, a computer glitch, and brain games. ready, adam? hit the clock. we start with a group of pirates who messed with the wrong ship off somalia. those pirates took aim at a french warship mistaking it for a civilian boat but missed their target and when they realized who they were attacking they tried to get away but the french
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navy caught up with them and captured the group. next up, a soccer game goes out of control after the match in sarajevo ended in a tie you can see the fans turned violent and began tearing up the stadium as they kicked and shoved officers. no one was seriously hurt but the police shown here in the yellow vests ended up being run off by the mob. >> i was five feet away and saw the catcher blocking any path i could slide on and my first instinct was to jump over and that's what i did. >> check it out. an amazing play he's talking about, the fordham university short stop lept head first over the catcher. fordham came from behind to win the game, 12-9. in the uk here is an answer to which came first, the chicken or the egg? a student protester threw an egg at the leader of britain's conservatives yesterday and oddly enough the politician was being followed by tabloid reporter dressed as a chicken. anyway, now the nation's capital, where a new study shows
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almost all the fish in the potomac river have both reproductive organs and scientists theorize that is because the water is so polluted with chemicals. tests of the water show it is mixed with runoff of everything from birth control hormones to traces of prescription drugs. the first dog stole the show today at the white house. take our dawit earns soughters work day. >> the question is do i like living in the white house? and yes it's fun living in the white house. bo likes it, too. >> yep. bo does. the first lady took questions from children of executive office employees but bo was the biggest hit of the east room event. a glitch in the computer virus protection software system hit pcs nationwide yesterday. security company mcafee issued an update to its service and somehow delivered part of microsoft's windows operating system. if you're looking to boost your brain power you may consider stepping away from the computer. a new study finds computer brain
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games appear to do nothing to improve cognitive function. the more the game testers played the better they got at the games but researchers say this did not translate into higher iqs. there is major buzz over the ritz-carlton in charlotte, north carolina. 40,000 bees are in hives on the roof of the posh hotel. but it's no insect invasion. the hotel has a beekeeper to take care of them. in return, the bees' honey becomes part of the restaurant's menu. wow. and in florida, a ft. myers beach man is trying to pull strings to get police to search for his missing friend. we're talking about the puppet pictured here. he says his entertainment partner was doll-napped out of his truck last seen wearing blue jeans, blue shirt, and sneakers. that brings us "down to the wire." meantime, a lesson in division for california teachers. there is fierce debate over proposed state law to make new hires and long-time teachers on the same playing field when it comes to layoffs.
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education cuts forces about 16,000 teachers were cut out last year. 26,000 got pink slips this year. a.j. duffy is the president of united teachers of los angeles and tim sullivan is principal of edward markham middle school where governor schwarzenegger appeared in support of this bill. a good day to both of you. >> thank you. >> good afternoon. >> okay. tim, want to get to what's happening at the middle school because your school lost more than half of its teachers in layoff last year. many were new hires. what would this bill do to help you out? >> it helps us stabilize our teaching staff and interview teachers that want to come to markham that have a passion for our students. right now we're destined to lose more teachers and this will continue unless we look at something different. >> what you're trying to do tim
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is improve the quality of teachers? improve the education for the students? >> yes. and stabilize it. that is part of the biggest issue is we are not able to stabilize as these rifts pull teachers away that want to be at our school sites. >> so, duffy, when you go just by seniority, don't you sometimes cut off your nose to spite your face? you have a lot of great young educators out there being cut out of job force. >> and we have a lot of mid career and veteran educators that do a fabulous job. this is actually a false issue and it's false because seniority was never the primary way used to determine who would stay at a school site. i want to point out this crisis was manufactured by the school district. in los angeles we had several years ago what's called the rodriguez consent decree.
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the rodriguez consent decree required that every school have a mix of new, mid career, and veteran teachers. the district went to the court and got rid of it. i want to read bulletin 2574.0 dated june 5th, 2006. while the district has prevailed, it is important to continue to maintain the established policies and procedures used to ensure that a school density guidelines are kept and that the highly qualified and experienced teachers are equitably distributed amongst the schools, the district did not follow their own guidelines. they created this situation. >> duffy, here is my question. when you have to layoff teachers how do you go about doing it? >> you look at seniority. you also look at qualifications.
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if the teachers mr. sullivan is trying to keep are not scientists -- >> but duffy, you're looking at, the first thing out of your mouth is seniority. why is the first thing out of your mouth not ability? proven ability? a record, be it one year of, you know, terrific results with a student versus -- >> based upon criteria. the problem is there is no credible criteria of evaluation that exists now in los angeles unified school districts. >> testing? >> that would be a reason to come back to the table and come up with solutions on behalf of the children. >> they are hardly trained to evaluate teachers. we are all thinking about the students but there are no credible studies that show if you do away with seniority you will improve student outcomes. >> what would you like to see happen to figure out which teachers stay and which go? is there criteria you think could be adhered to? >> well, i believe that mr. duffy just made a statement that there hasn't been anything put
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on the table and it's time for the powers that be to sit down at the table and come up with a reasonable solution because at the end of the day this is about children not based on adult agendas. >> all right. >> we're working with -- >> mr. duffy, how come no one is -- >> hang on. mr. duffy, let's let tim talk. duffy. duffy. duffy. hang on. >> so, mr. duffy, being that the -- i've been at markham middle school for two years and this has been going on for two years and not one individual from your office, the district office, or the local district has been out to my site to talk about how to resolve this issue. everyone knows there is an issue but no one is doing anything to change it. >> i've been there twice. that is not true. >> you haven't had a conversation with me. >> i have to end it there. can i just say i'm mom. i've got two kids. they're in public school. i want the best and the brightest teachers and i don't care how old they are. >> so do we.
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>> i want my kids absolutely getting the best education from the people who can provide that for them. >> understood. >> guys, thank you very much. duffy, tim sullivan, thank you so much. >> thank you. >> thank you. coming up an islamic group has words of warning for the creators of "south park". we have details next. so heading to the doctor uh... yeah? you gonna ask him this time? about what? our erectile dysfunction. shh...no...i don't want to talk about it.
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"south park" creators matt stone and trey parker marked their 201st episode with censorship. a radical muslim website threatened the show's creators following an episode that depicted the prophet in a bear suit. no reaction yet from the creators. well, president obama went to wall street today to sell his plan for financial reform, making the case to the very firms and banks he is trying to change. the president said he believes in free markets with a few rules. >> i believe in the power of the free market. i believe in a strong financial sector that helps people to
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raise capital and get loans and invest their savings. that's part of what has made america what it is. but a free market was never meant to be a free license to take whatever you can get however you can get it. >> so did he close the deal? will the reform really keep us from another meltdown followed by another taxpayer bailout? stephanie miller and mike slater are radio talk show hosts on opposite sides of this debate. we welcome you both. thanks for being here. >> thanks, alex. >> thanks. >> mike, i want to read the lead in "usa today" this morning. here is the quote. banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn't get aid. so from the main street perspective, if that's true, aren't these banks getting what they deserve with new regulations? >> i suppose at least for now but it seems like all that's going to do is set up and subsidize more irrational behavior in the future. you didn't really solve the
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problem. this is all going to happen again. i think the same thing is going to happen with the regulatory reform. >> what would you want to see happen? >> we need to roll government back. i don't want to get steph -- i want stephanie's take on this. we have to get rid of the premise we've had this unfettered free market for decades and finally the government is going to ride in on a white horse for the first time and save the day. we haven't had a free market for decades in this financial sector. >> okay. stephanie, respond to that. >> wow. less regulation, alex. that's what we need at this point. we needless regulation? we need to do what we've been doing that got us into this position but take off even more regulation? are you serious, mike? i mean, who doesn't think that these big banks need to be reined in in some way, shape, or form? that's ridiculous. >> wall street -- >> hang on. one person might be house minority leader john boehner. let's play a little about what he said about the president's plan for reform. take a listen. >> it creates this financial
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stability control board, all bureaucrats, in the administration, that gives them the ability to take over any company in america that they see fit. this is not what the american people want. >> stephanie, if that's what the american people want what do they want in order to open up credit for them so they can get what they need to buy homes, buy cars, you know, start up businesses. what do americans want according to your listeners? >> that's exactly right, alex. what they want to know is why did they bail out these banks and then they still can't get a loan? obviously this behavior needs to be regulated. the republicans said oh, look they want to own a car company. look at gm. gm is going to pay back the loan early. they're on their way to profitability. it worked exactly the way it was supposed to and these bailouts have worked as they're supposed to. >> if we go back to the "usa today" quote if you want to throw that up, great, but banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay
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raises to employees than institutions that didn't get aid? stephanie? >> yeah. well, no. that's exactly what i'm saying is that you have to do something to force them to loosen up credit because it didn't work that way. and i think what they're saying, alex, is this is exactly the opposite of what it to prevent bailouts, that's what the fund is, to wind these companies down. not bail them out again. >> stephanie miller and mike slater, a little lopsided, i apologize for that. but nick's in my ear saying i got to, so i got to go. up next, elton john's husband, david furnish talks about president obama's move to provide hospital visiting rights for same-sex couples.
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president obama's new hospital visitization rule is putting a new spotlight on same-sex rights. the order couples must be allowed to visit ailing partners in the hospital and have medical
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power of attorney. elton john and husband, david furnish are the producers of a new broadway play called "next fall." and it falls in line with that issue. >> they ask that it be family for now. the surgeons. >> for now, sweetie, he seemed pretty am adamant. >> who do you think has been living with him for the past four years? >> david furnish joins me on skype. congratulations on the play, it opened last month, great reviews. i'm not going to tell the end of the story, but it is a heart-breaker. david, do you think the president's directive that went down last friday does enough to deal with this issue? >> i think we're steering in the right direction towards equality and i'm very happy and i applaud the president for making a move in this direction. but i think there's many other outstanding issues regarding equality for same-sex couples. >> you and eltden are in london, same-sex couples are afforded more rights than in the u.s.
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what else do you think needs to be done? >> i think if we can have the same rights and privileges as married couples, whether we call it marriage or not, is up for debate. in britain it's called a civil partnership. i think what all of us want to strive for in the end is absolute equality. that we're treated fairly and equally. >> what's the message you want the audience to take away from your play, "next fall." >> there's two messages we applaud what president obama has done in terms of health rights and visitation rights. it's a powerful issue. the other message we would like people to tay away from the play is we look at an apparent divide in america between the left and the right. sometimes we feel like we're this far apart. but in reality we're only this far apart. >> you know, david, you're not echoing the sentiments of a lot of people who wish they say more was being done. how confident are you that you're going to get a fair sense of equality for all at some
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point in the near future? >> i have to say, based on our experiences and the way people have received us and received our relationship in america, i do think it is a vocal minority. i look at the way elton's career has been received and the way that our work has been received. we've been received with nothing but positivity and open arms and great support. i think there's a lot of people out there who want to see people have equality and equal rights. >> david furnish, husband of elton jon, thanks so much. that's our show for this thursday. the "dylan ratigan show" is up next. dylan will get reaction from blanche lincoln and republican congressman, mike pence, i'll see you tomorrow. ne gets just what they want. combine two or three favorites, from new creations like crab-stuffed shrimp and pecan-crusted shrimp to classics like decadent shrimp scampi.
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