we thought we couldoff set that with the property tax, and it would make sense for us financally. i don't know the our applicants, if they did retrofitting or had to come up with so much money other than the monthly maintenance. but it is significant for us or anyone, a quarter of a million dollars-plus, not to mention that the tremendous appeal that the home that is to the public. every week we get at least five people knocking on the down, wanting to take pictures of the home, giving us gifts and plants to plant in the yard from their yard. it was just overwhelming to us. we really never expected that at all. i spoke with mr. lilienthal this morning, and he is in support of this to maintain the heritage. the main thing is so that we can maintain the structure of the property in the future, and by this contract, we would be able to do that. without it, we will not. thank you for your consideration. supervisor avalos: thank you very much. any other member of the public who would like to comment? seeing none come forward, we'll close public comment. colleagues, this item is before

we thought we couldoff set that with the property tax, and it would make sense for us financally. i don't know the our applicants, if they did retrofitting or had to come up with so much money

them during a meeting of the finance ministers ahead of the g. twenty the bric countries strengthen their role in the i.m.f. what does that mean for russia. to suggest we must always cooled an untold position with the bric countries on the other hand brics position including that in the i.m.f. will grow much stronger after the quarter distribution that is to be approved by leaders at this summit absolute proof bric countries will get into the top ten biggest time of shareholders' russia will be the month india the eighth brazil the tenth and china the third biggest shareholder. that means that i'll share in our contribution in iraq to citizens who grow to just under fifteen percent which is close to the book in stake which is usually fifteen percent or so russia's role in the i.m.f. decision making has definitely grown bigger. than our system of each. president. the president of the world bank robert zoellick recently proposed reforming the world's currency system strengthening the role of gold what do you think about that idea is that a reality.

from its eurozone part us it's a meeting of finance ministers in brussels it says it is not in danger of defaulting on its debt to discuss what's going on i'm joined by michael singh foreign exchange strategist from h.s.b.c. mr michael thank you very much for joining us so why is either so important to the european economy it is not very big. well that's that's the main point it may not be a big economy because and still quite a big impact for the european economy as a whole and really what it comes down to is that say conditions in our lingo a lot worse from a financial market perspective and what it could mean for the real economies elsewhere in europe is that what what what could actually happen to contagion so yes arlen has a problem but could it impacts possibly portugal even more so and eventually even the spain so this is what the market is quite nervous about it's more about the contagion risk rather than just the story by itself. but in terms of the latest bailout talks what might be the action of the currency exchange market. well i think what the what the market wants to se

should taxpayer money be used to finance a new baltimore arena? go to our web site and tell us what you think. lso sound off through facebook, send us a tweet at fox baltimore and you can text your an to 45203 enter a for yes and b for no. response may air tonight on the news at 10:00. >>> in ohio giving directions for some people could be very dangerous. driver approached a woman in a parking lot seemingly asking for directs. instead he grabs her purse. surveil an video is obviously capturing the woman holding on for dear life. the driver then hit the gas, drags ing her. she suffered bumps ps and bruises but expected to fully recover. the crook however is still on the loose. >>> leaders gathering for the t-20 economic summit in south korea get a dose of very unusual weather. what you see here, falling here is a mixture of rain and sand. it has been falling for the past day or so in zole accompanied by strong winds. it is making visibility an issue. same storm is expected to impact parts of japan and china as the weekend progress. >>> new recommen

this will authorize the city of san francisco to issue general obligation bonds the bonds would be used to finance earthquake retrofitting on affordable housing and some of room occupancy buildings that currently deemed to be at risk during an earthquake, this will allow an increase of property taxes to take the bonds. i have the chairmen of the san francisco republican party and an opponent of proposition a. >> first of all, generally speaking, bonds are used for government buildings. part of this building is a government owned but part of them are privately owned income- producing buildings. we don't think that the taxpayers should have to pay to retrofit privately-owned buildings. the landlords own knees and they did not have to pay these bonds -- the landlords own these and they did not have to pay these bonds back. san francisco has roughly six and a half billion dollar annual budget. the infrastructure is always the last thing. you wait till it crumbles rather than fixing it well over funding some other things. we don't think that those people will be charged to pay for those bond

what kind of cth us that also finance their plant and equipment with us. it's still a very weak sector, but as i said i think we're and trying to attract customers and loan them money. obviously banks tighten -- >> tom: how are they doing that, by loosening credit standards? because can interest rates possibly go any lower in downste illinois, and there was some improvement in ton employment. so it sounds as though we're the insights, our guest this evening, van dukeman, c.e.o. of first busey. >> tom: for the last few months, we've been reporting on how the government is pressuring companies that commit health care fraud. regulators have already forced one firm to sell off a division accused of ripping off medicare. now they've kicked a drug company leader out of the health care business altogether. as darren gersh reports, corporate leaders are getting a clear message. their career could be at risk. >> reporter: in march, ethex, a subsidiary of k.v. pharmaceuticals, pled guilty to charges it failed to tell the f.d.a. the company had mistakenly made morphi

. >> earlier we asked should taxpayer money be used to finance a new baltimore arena? so far seven% say yes. while 93% say no. michael writes on facebook. we really do need a new and bigger place. it probably would bring a lot more money to baltimore. but tiffany writes. no, we cannot even afford to keep schools open and police and firemen employed. >> weather wise, beautiful week all week long. perfect weather to rake leaves. it was nice. >> but lets see what the weekend looks like. here is meteorologist emily gracey with the sky watch forecast. hi emily. >> hi. -ood weather will continue this weekend. more warm weather, for this tim@ of year. typically upper 50s. @%is be weekend mid 60s. we felt it today. but cooling down. down to the 30s already. 37 in baltimore. 39 in dover. and 38 in salisbury. we will keep falling overnight tonight into the low 30s. clear skies out there aids in the cooling temperatures. so we will stay calm and clear out all evening. and into the day for tomorrow. reaching highs tomorrow afternoon in the 60s again. after a cool start tomorrow mo

. >> reporter: he claims american drug use is financing the cartels and smuggled american guns are arming them. this is an example of the more than 90,000 weapon it is calderone government has confiscated in the last four years. almost all of them high-powered and all of them bought in the united states. >> and i'm talking like 50,000 assault weapons, a.r.-15, machine guns, more than 8,000 grenades. almost ten billion bullets, which is amazing figures. >> reporter: while the u.s. has offered $1.6 billion in aid and equipment to help mexico fight the cartels, president calderone know it is burden of the war falls on him. >> what were the options for a government? either you allow all those criminals to take over the country or you face the problem and we decide to fight that. and that's the most important decision of my government. >> reporter: a high-stakes decision with costly implications on both sides of the border. peter greenberg, cbs news, mexico city. >> couric: and for more of peter's exclusive interview with mexican president felipe calderone you can go to our web site at cbsnews

russians finance minister agrees that china should become more flexible of its monetary policy but says the changes shouldn't be rushed if you're interested to hear more about that we'll bring you a legacy could interview in about an hour's time and it's also online on our home page or t. dot com but here's a little taste of what he had to say. to good to keep well speaking of china it really is pursuing a somewhat different economic policy now is notorious for its lack of flexibility common called a new to defer its exchange rates must be more flexible this is what we must aspire to i can see though that we must move towards this as fast as possible if china devalue its currency now the world may not benefit from it that much the world isn't going to announce much because china is going to lose china is also trying to recruit these days so i think a flexible rate policy should be implemented gradually. next to russia newspapers revealed the ten russian agents expelled by the u.s. this summer were betrayed by their own boss president medvedev says the revelations are no surprise and tha

. >> reporter: he claims american drug use is financing the cartels and smuggled american guns are arming them. this is an example of the more than 90,000 weapons the calderone government has confiscated in the last four years. almost all of them high-powered and all of them bought in the united states. >> and i'm talking like 50,000 assault weapons, a.r.-15, machine guns, more than 8,000 grenades. almost ten billion bullets, just amazing figures. >> reporter: while the u.s. has offered $1.6 billion in aid and equipment to help mexico fight the cartels, president calderone knows the burden of the war falls on him. >> what were the options for a government? either you allow all those criminals to take over the country or you face the problem and we decide to face that. and that's the most important decision of my government. >> reporter: a high-stakes decision with costly implications on both sides of the border. peter greenberg, cbs news, mexico city. >> couric: and for more of peter's exclusive interview with mexican president felipe calderone you can go to our web site at cbsnews.com. m

as an imperialist power republicans seem eager to throw countless piles of dollars at us to finance mostly of the cost of social benefits. and of investigation into costs a bit more in trafficking network raises concerns about the region becoming a breeding ground for gruesome crimes. military assistance is what's on the table as the lebanese prime minister is coming to moscow so to reread as expected to meet with his counterpart vladimir putin during the two day visit ahead of his trip r.t. talked to the lebanese premier on relations between the two countries as well as international issues such as russia's role in the middle east peace process watch the full interview in just a word twenty minutes here here's a preview. and therefore i think russia could play a very important role that is mean your friends in the arab world we need to use our relations with russia in order to communicate the arab stance and think through the international community because it is very unnerving to see the injustice done by israel to palestinians as well as to lebanon and syria a lot of we can no longer ig

promoted activities to finance bloody wars using direct methods to influence public opinion and the main tool of men affiliation became media coverage kalen for reports. when most americans open a newspaper they expect all the news that's fit to print not to plant but declassified documents show that in the one nine hundred eighty s. the state department was doing exactly that known as white propaganda editorials and stories were planted and pushed in major u.s. media outlets the washington post c.b.s. usa today the new york times and more. and sharing favorable coverage of the controversial contra war in central america the office of public diplomacy had a very innocuous sounding name but in fact it was a sinister covert office running illegal propaganda operations hello my name is art all right meet the man at the forefront of this effort cuban american called warrior and former head of the office of public diplomacy for latin america has the reputation of a tough operator that's. worth throwing employing special psychological operations experts to craft messages for the american

earlier we asked should taxpayer money be used to finance a new bbltimore arena? so far seven% say yes. while 93% say no. michael writes oo facebook. we really do need a new and bigger plaae. probably would bring a lot more money to baltimore. but tiffany writes. no, we cannot even afford to keep schools open. and police and firemen employed. >> go to foxbaltimore.com and tell us what you think. sound off through facebook. send us a tweet at fox baltimore. text your answer to 45203. enter fox 45 a for yes. fox 45 b for mosh. hear more responses on the "late edition" at 11:00. >> more intersex fish discovered in the ssate. researchers found male bass carrying eggs, in six lakes along the eastern shore. now in the past week they have been found in the potomac and susquehanna rivers. this could indicate contaminated waters. -> otherwise, beautiful all week no complaints. >> it has. but how long will it last? here is meteorologist emily gracey with her sky watch forecast. hi emily. >> nice weather in store for the weekend. we have had it all week. weekend. although we

. >> and before joining us. >> the german finance ministry forecasts a huge increase in tax revenues. grounded, airbus a380's. and germany's jewish community ordains its first female rabbi in 74 years. >>> the german government has announced an unexpectedly large tax windfall, 65 billion euros, by the end of 2012. with exports booming and unemployment at an 18-year low, taxes are flowing into the coffers. so far, chancellor merkel's government says that cash will only be used for debt consolidation. >> business is booming in germany, and the better than expected recovery from the downturn has been -- has meant tax revenues will be better than expected. it is a major upward revision that experts would have thought fanciful until recently. it all the same, berlin is warning against complacency. >> despite the upward revision, are receipts in 2010 it will be well under the 2008 levels. >> the revised projections for the current and following two years foresthe feral gion,ocalcoffers will take in 61 billion euros more than expected, leading to calls for tax cuts from some quarters, includ

and russia's finance minister agrees that china should become more flexible in its monetary policy but says the changes should be rushed and we've got the legs he could interview for you in full in about twenty minutes times also online and on the dot com but here's a quick taste of what he had to say. good kid well speaking of china it really is pursuing a somewhat different economic policy now is not all is for its lack of flexibility we say that we're in common korda noted efforts to exchange rates must be more flexible this is what we must aspire to i can say though that we must move towards this as fast as possible if china devaluates as currency now the world may not benefit from it that much of the world isn't going to in as much as chinese go into those of china is also a driver of growth these days so i think a flexible rate policy should be implemented gradually. next in our russian newspapers revealed the ten russian agents expelled by the us this summer were betrayed by their own boss president medvedev says the revelations are no surprise and that he was aware of the event

the german finance minister used the word clueless when recently criticizing the federal reserve policy of quantitative easing, pumping $600 billion into the u.s. economy. the strategy of printing money to keep interest rates low also weakens it they u.s. dollar against the euro, making it harder for exporters in europe to compete. >> people that differ priorities. in the u.s. the priority is still on how to artificially stimulate the economy, whereas in europe, it has shifted back to long-term repair work, including fiscal prudence. >> europeans are basically saying we've got germany, sweden, switzerland, we have some economies that can show proven results and growth. >> one of america's aims at the recent g-20 meeting was to stop china from the debilitating -- manipulating currency markets. but on washington's perspective, the europeans failed to stand alongside the u.s. >> china is whether real trade problems are and what is most disappointing, china poses real problems for europe but germany hypocritically criticizes the united states as opposed to supporting it because it is so con

joining us right now, personal finance experts ken and daria dolan. i've missed saying your names. welcome back. >> hello. >> how exciting! you look fantastic after your hiatus. >> thank you. you look wonderful, too. i used to have is a dress like that, fredricka. >> very good. black is always in. right? >> exactly. >> okay. so let's talk about how, what just took place during midterm election, the promises we're hearing from most of the republicans. how your money might be impacted as it pertains to your investment, health care, et cetera. so in the grand scheme of things, might our wallets be impacted in a very big way? >> you know, there's no doubt about it, fredricka, i want to start saying it's important to us because we don't have a political bone in our body. very apolitical. most of the people in washington frankly are knuckleheads and can't get out of their way. if we plook at it as financial experts and as consumers. our perspective is really from the street, because we talk to america constantly. >> the fact of the matter is, unless we can get some concerted working toge

i would like to note that using 100% financing was both the median and mobile decision among borrowers with first lane mortgages. we can track the payment status of these borrowers over time he. we and the observation sample in september, 2009 very we measure equity in the data because by observing the loan balance and how it evolved over time and the house price index that we used to deflate of the house value that we observe that origination is from the core logic zip code price index for the definition of the fault that we used is 90 + days delinquent for two consecutive months and the default decision happened in the three months prior to observing a long going 90 days delinquent for two consecutive months. we felt around the different deval definitions. this is the variation on house prices that is generating the variation in equity. over time, there is substantial variation. the green line shows that for a visit could experiencing the largest house price decline between 2006 and in the middle of 2009, house prices fell by nearly 60% the blue line shows that in as opposed with the

this allows us to review that. until that commences, nothing happens. theoretically, if we enter into another great depression or recession, this could sit for 10 years with no changes. the agreement sets for 30 years and once there is a private development, then the requirements can. -- can. i think several of the commissioners mentioned how the development phase in works. what i am presenting here is the four tiers of reproval. this creates a process. the two fit together hand in glove. the developer is the referee. it could be like a thousand units of housing, 50,000 square feet of retail and three community improvements. these have to conform with -- and they must integrate into the greater citywide system. the development phase approvals are the individual buildings and the community improvements, the parts, the transit extensions, the pike programs, etc.. all of those are subject to individual design review process. at the lowest level, we are implementing approvals and the those are all of the standard permits the city currently issues, building

twenty summit to talk us through what's happening greater detail i'm now joined by a professor of finance and economics at trying to university donald green many thanks for joining us here on the scene so you don't have a profile communique was it what you were expecting the chief twenty is a talk shop for coordination in economic policy and when you think of what individual nations focus on when they set their economic policy they focus on what's important domestically the u.s. is focused on raising employment. china wants to continue its progress through export led growth but this so this forum of the g twenty is is really a means by which individual nations are forced to consider the implications of what they do domestically for the larger stage for the global the global scene and every comment on the communicate that is come out this afternoon as has addressed this particular point saying we are thinking about strong stable balance economic growth and we are nations our individual nation whether it's president obama or prime minister cameron or from my own country prime minister harpe

get our best deals. 0% financing and, as a holiday bonus, we'll give you $1500 to use toward your first three payments. holly has something she'd like to say. bye, camry. . >>> tenmenn and women received their u. s. citizenship today in a special ceremony naturalization ceremony aboard the uss constellation. the group currently serves in the u. s. military and they all said this was the proudest day of their lives. >>> on this over of veteran's day we are paying tribute to the brave men and women who served and still serve in their armed forces. today on our facebook page we asked you to send a photo of your loved one who served our country. erika sent in this photo of colonel dean dickey father of 7 children served in wwii. he was recently added to the chemical corps hall of fame he's now buried in arlington cemetery and his wife is buried right by his side. >>> send us your pictures of the veterans in your life tell us all about them on our w m ar facebook fan page we'll salute your loved ones on the air or attach a photo send it to pix at abc2news.com. >>> during our 5:00 newscast to

china says look we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to interfere in our waters you want us to pay for your military budget to threaten us to make us do what you want us to do you must be crazy what leverage does the us even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any leverage that's the problem obama doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what he's ask

of the finance committee in the senate, used to say that everybody's view of taxes was don't tax him, don't tax me. tax that fellow behind the tree. >> couric: the government will collect $2.3 trillion in taxes this year, well short of the $3.6 trillion it will spend. 55% of that spending will go to mandatory expenses like social security, medicare, and medicaid. 43% is called discretionary spending. that's money congress controls and allocates to more than two dozen government departments. 2% of the budget goes to congressional pet projects, or earmarks. >> everybody wants to cut the budget. they just don't want to cut the budget that affects their constituents. >> couric: over the last four decades, the u.s. has stayed out of the red just four years. this year's budget deficit will be the biggest ever, $1.5 trillion. digging ourselves out requires tough choices. >> it's practically a political nonstarter to cut popular prospects like social security or medicare because you know when you're up for reelection, your opponent is going to tout your vote, so while members of congress do

of the finance committee in the senate, used to say that everybody's view of taxes was don't tax him, don't tax me, tax that fellow behind the tree. >> couric: the government will collect $2.3 trillion in taxes this year, well short of the $3.6 trillion it will spend. 55% of that spending will go to mandatory expenses like social security, medicare, and medicaid. 43% is called "discretionary spending." that's money congress controls and allocates to more than two dozen government departments. 2% of the budget goes to congressional pet projects, or earmarks. >> everybody wants to cut the budget. they just don't want to cut the budget that affects their constituents. >> couric: over the last four decades, the u.s. has stayed out of the red just four years. this year's budget deficit will be the biggest ever, $1.5 trillion. digging ourselves out requires tough choices. >> it's practically a political nonstarter to cut popular programs like social security or medicare because you know when you're up for reelection, your opponent is going to tout your vote. so while members of congress do

china says look we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to interfere in our waters you want us to pay for your military budget threaten to make us do what you want us to do you must be crazy what leverage does the us even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any leverage that's the problem obama doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what he's asking fo

china says look we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to interfere in our waters you want us to pay for your military budget to threaten us to make us do what you want us to do you must be crazy what leverage does the us even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any leverage the problem doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what he's asking for there

china says look we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to interfere in our waters you want us to pay for your military budget to threaten us to make us do what you want us to do you must be crazy what leverage does the us even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any left bridge well that's the problem obama doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from . russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what

thousands fall for the moment come up short the weather stay with us. wealthy british style. markets financed scandals find out what's really happening to the global economy for a no holds barred look at the global financial headlines tune in to cause a report on our t.v. . iran's first atomic power plant will share reaches operational capacity before being linked up to the country's national grid. people should no longer be in switzerland because they don't deserve to be answered so swiss voters get ready to choose whether immigrants who commit serious crimes should be deported. and with experts claiming georgian foreign debt is spiraling out of control many blame president saakashvili a lot of overspending. seven am in moscow good to have you with us here on r t i met tressa our top story the fueling of iran's first nuclear power plant has been completed.

the other thing is that virtually all municipalities have to finance themselves using debt. want to get into the debt market, the exercise a certain discipline. unless you happen to be gm bondholders and less, then you're screwed. presumably that will happen. but we will see actually. so bondholders assumes will exercise a certain amount of control of these cases. and that control will push its way up to the states that if you look at harrisburg which is on the verge of defaulting, and should have evolved, in pennsylvania, ed rendell was, government tell was happy to let them be fought until he realized of the municipalities wouldn't be able to borrow in the state, and then he sort of backed them, at least back their next payment. so it's really an individual issue. and as for the states, they technically can't go bankrupt which means, well, i can imagine of government allowing california, new jersey to default on the bonds that tie imagine some way or another, a front or back door bailout would be in order. we have are we seeing some of this with the stimulus bill, build am

president who was speaking ahead of the meeting of the eurozone finance ministers portugal has warned it could be forced out of the eurozone and ireland is also being urged to use european bailout money to prevent bankruptcy but financial analyst max kaiser says going to the international monetary fund for help would even worsen the situation. the e.u. right now is investigating criminal activity over there at the anglo irish bank four hundred fifty one million dollars of illegal loans that are now parked in offshore accounts implicated in our john fitzpatrick david drama shown quinn the financial terrorists that are taking ireland down in less ireland's willing to give up its sovereignty unless ireland is going to become a debt slave unless ireland wants its affairs conducted by the i.m.f. and the i.m.f. everywhere they've gone they've they've brought destruction and economic mayhem you know they're licking their chops waiting to get in there to cause havoc pay themselves a huge freeze give bonuses to their cause of crony capitalists and terrorist bankers and ireland is quitting in i

china says look we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to interfere in our waters you want us to pay for your military budget to threaten us to make us do what you want us to do you must be crazy what leverage does the u.s. even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any leverage that's the problem obama doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what he's a

we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to interfere in our waters you want us to pay for your military budget to threaten us to make us do what you want us to do you must be crazy what leverage does the u.s. even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any leverage that's the problem doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from. russia from india saying please accept our iow use our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what he's asking for there's no

china says look we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to. interfere in our waters you want us to pay for your military budget threaten to make us do what you want us to do you must be crazy what leverage does the us even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any leverage that's the problem obama doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what he's asking f

to finance its fourteen trillion dollar debt how does president obama have any leverage problem obama doesn't really have any leverage at all because he needs a favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy your real estate and your companies with dollars that will never repay other countries don't want dollars what is the point of accepting more dollars so then what is the future of the us dollar as the reserve currency it means that it's mixed other countries and basically all the countries at the g. twenty meeting that are coming up. korea realize that the dollars over the question is how do you bury it in a way that is polite you want to do what slowly you don't want to do it suddenly but very politely they'll tell us your time is over and what does this mean for the future of the u.s. as a global power slowly shrink because how can it. support its military bases abroad if nobo

china says look we've been financing your budget deficit with our two and a half trillion dollars of foreign exchange you're spending your budget deficit on military bases to ring us around to take aggressive action against us to put your spy planes for they bump into our spy planes to. interfere in our waters you want us to pay for your military budget to threaten us to make us do what you want us to do you must be crazy what leverage does the us even have it's the largest debtor nation in the world china is the largest creditor nation in the world the us relies on china to finance its fourteen trillion dollar debt how does president obama have any leverage that's the problem doesn't really have any leverage at all because he needs the favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay that's what he's asking f

the prime minister and the finance minister pushed island to put themselves under the umbrella to be under the umbrella of themselves as quickly as possible this is an inflation of claims to be bailout which will ruin of the eurozone sooner or later and germany is economically not able to. such a bailout. and the german taxpayer has a word to say in all that is no longer willing to do saying something like that currency union between russia and the european union is a possibility according to russian prime minister vladimir putin and german chancellor angela merkel the statement was made during putin's visit to germany on friday the russian premier said the euro was much more reliable than the dollar despite current difficulties in the region putin also said he no longer sees any obstacles to russia's or session to the world trade organization russia and germany agreed to clear the path to increase business links and develop science and technology together and in a meeting with german businessmen the russian pm managed to lighten the serious mood over energy supply. so the german com

realize on china to finance its fourteen trillion dollar debt how does president obama have any leverage the problem obama doesn't really have any leverage at all because he needs a favor from china and from other countries from brazil from. russia from india saying please accept our ious our paper dollars even though we have no way of paying for it and even though we can never pay off these steps please accept them and let us buy out your real estate and your companies with dollars that will never repay other countries don't want dollars what is the point of accepting more dollars so then what is the future of the us dollar as the reserve currency it means that it's finished other countries and basically all the countries at the g twenty meeting that are coming up in korea realize that the dollars over the question is how do you bury it in a way that is polite you want to do what slowly you don't want to do it suddenly but very politely they'll to the us your time is over and what does this mean for the future of the us as a global power slowly shrink because how can it. support its mil

they stood up with us. the british finance minister said a strong u.s. economy is in both asia and the world's interests. it's not the most rousing bit of applause but probably the nicest thing anyone will say ahead of that g-20 meeting. chuck, back over to you. >> thanks very much. >>> she's the highest-ranking woman in u.s. political history. nancy pelosi ptwants to keep leading the house democrats. not everyone agrees. we'll hear the case for her staying in leadership. plus, the fight for the number two slot in house democratic leadership. we'll hear from one of pelosi's closest alleys, congressman joe miller. >>> and the world's top economic powers meeting in south korea to tackle the global financial crisis. we'll tell you what's at stake for economic recovery and the fact that everybody is mad at the fed. >>> first a look ahead at the president's schedule. it's a summit day. you know what that means. summits. you're watching the "daily rundown" on msnbc. trust me. trust me. ya i like that. trust me. bankers are known to be a little bit in love with