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stop his re-election. we'll show you numbers. so far europe's woes have had very little effect on our economy and is a poor excuse for our anemic private sector economy. even after europe bailed out spanish banks, the dow fell 143 points in the red. everybody's just back to this sunday's greek election. joining us tonight, the architect of the greek bailout who said that a greek exit from the eurozone would destabilize the entire world economy. item number two tonight, the president said the private sector is doing fine. three hours later flip-flopped to say the economy was not doing fine. we'll show you how major presidential flip-flops are debtry member tall to your political health. fatal even. president obama hates millionaires and billionaires but not as much as the occupy wall street hooligans. we'll show you amazing ways warren buffett and his pals are protecting themselves. would you believe anti-missile systems on private airplanes? first up, president obama urging europe to solve its crisis as if his re-election depends on it. john harwood joins us with the details. good evening. >> reporter: good evening, the political economy of the 21st century isn't like the one we grew up with because it used to be the presidential elections in the united states were decided by people like this -- mitt romney, barack obama, the voters they were campaigning among around the country. but in 2012 the election could be decided by people like this, david cameron, francew fran -- francois holland. they could even push the united states into recession which is why president obama opened his news conference friday with a discussion of how our economy and europe's are interconnected. >> obviously this matters to us because europe is our largest economic trading partner. if there is less demand in places like paris or madrid it could mean less business for manufacturers in places like pittsburgh or milwaukee. the good news is there is a path. these decisions are fundamentally in the hands of europe's leaders and fortunately they understand the seriousness of the situation and the urgent need to act. >> treasury secretary geithner over the weekend praised the action that occurred over the weekend which is 125 billion dollars from eurozone countries to spanish banks but of course this is going to be a long and bumpy journey, larry. we saw the stock market today reacting adversely to the spanish bank rescue. next stops on the journey, the greek elections on the 17th of this month and the day after that, the g-20 meets in mexico. president obama will be there trying to figure out how we can keep moving forward and solve this crisis, larry. >> greece could be a big obstacle to prosperity. many thanks to john harwood in washington. think about this. 13% of america's exports go to europe. that's only 1.3% of gdp but it's not nothing. if europe falls apart and u.s. exports fall by a third our gdp would decline by about half a percent. we are at 1.9% now. there is not much room for error. that's not really a catastrophic issue. but wait. if the u.s. tumbles off the fiscal cliff then the u.s. gdp drops by another 3.5%, that according to the cbo. if you have been doing the math with me that brings us to negative gdp or a recession. no wonder the president is worried about his re-election bid. but the big issue is the fiscal cliff impact. right now that's much bigger than europe barring a european catastrophe. sam seeder, joins us. cnbc contributors tony frato and jennifer are you ben, author of the washington post's right term blog. tony, the reality is europe is not that big an impact player yet, unless there is a total catastrophe. it really is the fiscal cliff which president obama has not negotiated yet. >> yeah. i'm glad you did the math problem there, larry. that's the way i have been driek it myself. there seems to be a misk misconception of how big it is in terms of importance to our economy and what portion is europe. right now it is not a big part of the story for the u.s. economy in terms of the economic downturn. the president on friday was trying to make it so by pointing to europe. you had to wonder who his audience was. it wasn't angela merkel or mary monty. it was telling them what's going on in yumplt you could tell that was the case. >> the data don't really bear it out. we have gone back to the issue of the private economy. if the united states had a strong economy, period, okay, strong economy, we wouldn't worry about europe and the stock market wouldn't gyrate so much. we got a number today. family median wealth off 40% in the last couple of years. home prices still down 42%. some of this occurred before obama became president but the last two years while on his watch. those kinds of numbers are why we are so fragile, sam. >> i agree. basically the problem is we have cut 600,000 plus government jobs and the shrinking of the sectors is shrinking the economy. that's the drag. we could be down in the sevens on unemployment were it not for austerity programs. yeah, it's true. we are in a fragile state. it would take more government spending to get us to a place where we could with stand even the slightest tremor ohs from europe. >> jennifer are you ben, that's the case president obama made. we need more government spending to get ub employment down. i'm not sure after tuesday with scott walker and san diego that anybody buys into that. i want to ask you this. regarding the fiscal cliff which is the recession inducement here, that's the key. not europe. it's the potential of the fiscal cliff. ryan lizzo of the new yorker magazine says sources say if president obama doesn't get the deal he wants on the cliff then we'll have all the tax cuts will expire and we will, in fact, have a massive recession. i don't know if you saw that piece. it's all over the place. this is obama being his most stubborn and i think silly on the economy. >> he really is, larry. he's driving his own truck into a ditch here. no wonder he's talking about europe. anything within his control he doesn't want to do, doesn't know how to do or wants to do thing it is american people don't want. why don't we borrow more billions? have another stimulus, another after that and another after that. have we not spend enough money? have we not gone into debt enough under this president? it's absurd. it e it's not common sense. i think he'll have difficulty explaining the rest of his idea which is the road to prosperity is bigger government, hiring more civil servants. that's not accurate and not a mess sang the american people will accept. >> sam, it's a tough sell if you ask me. thoo bigger government spending is what the american people want or somehow that will drive this recovery. >> i don't know, larry. i think the polls show americans want more teachers. they want more firemen, more cops. they want more services from the government. look, the fact is we have cut 700,000 government jobs in the past -- >> sam, we lost at one point nearly 9 million private jobs. now the number is 5 million. >> well, we're experiencing job growth that rivals the bush administration and in many aspects beats it. the real problem is -- and you know this, larry. you worked in the reagan administration. the rate of growth, the size of government under president obama and we've got to put aside the whole t.a.r.p. because he wasn't there. >> we're not getting into this again. >> these are simple numbers. >> i don't know how many times you need them knocked down. the bottom line is -- >> well, knock them down. >> which part of it? >> you tell me. haven't we lost 600,000 plus jobs? >> sure. great. so 600,000 jobs compared to -- >> hang on. one at a time. go ahead, tony. sam, you asked tony to respond. please let him respond. >> all right. sorry. >> compared to capacity in labor and fixed units in the private sector it doesn't come close. if you ask the american people do you want more teachers, firemen and policemen the answer is yes. if you ask, do you want to go into greater debt by borrowing the money to send it to state governments they say no. it's a silly debate. what we do understand is the private sector will have to pay the taxes at the local level to pay for those workers. >> jennifer, spending has gone up from 20% of gdp to 24, 25% of gdp. >> right. >> you know, i remember back in the days which was the 80s and 90s when we had deregulation, limited government and low marginal tax rates and we didn't have the nlrb harping on boeing or the epa stopping the energy business. in those good old days, jennifer, with the united states growing 4%, 5%, 6% we department worry about europe which hardly grew at all. we don't worry about greece. greece was for ancient history textbooks. now we have to sit up late nights worrying about greece. greece could fall apart and be catastrophic because we are not doing the job at home, jennifer. >> america used to lead the world. now we're trailing. if the road to prosperity were to hire more government workers and expand government we would be in a king's paradise now. these people have no idea how to help build and encourage the private sector. >> i'll summarize myself. i don't think mr. obama's big issue now is europe. but europe could damage the re-election. it's here at home and i think he has to solve our fiscal problems and show leadership so the economy won't really tank. anyway, sam, tony and jennifer, thanks, everybody. coming up on "the kudlow report," the ral loin spain's big bailout was very brief. stocks wound up sinking triple digits. more jitters of contagion and a greek exit that could stabilize the world's economy. the architect of the greek debt deal is waiting in the wings. later on, a defining moment for president obama that will haunt him through november. maybe cost him his own re-election. don't forget. free market capitalism is the best path to prosperity. it's true for europe and the united states. we just don't have enough of it right now in either place. tdd# 1-800-345-2550 let's talk about the personal attention tdd# 1-800-345-2550 you and your money deserve. tdd# 1-800-345-2550 at charles schwab, that means taking a close look at you tdd# 1-800-345-2550 as well as your portfolio. tdd# 1-800-345-2550 we ask the right questions, tdd# 1-800-345-2550 then we actually listen to the answers tdd# 1-800-345-2550 before giving you practical ideas you can act on. tdd# 1-800-345-2550 so talk to chuck online, on the phone, tdd# 1-800-345-2550 or come in and pull up a chair. over the weekend, spain got as much as a hundred billion euros in rescue funds for the d dilapidated banking sector. simon hobbs has the details. good evening, simon. >> you know, larry, one year ago promising to pump $125 billion into a european banking system would have triggered a powerful risk on rally. today's ral loin wall street was extinguished as soon as it started. now investors jumped to more fundamental questions. is there enough cash for spain? what about the italian banks? do deals with ireland and portugal need to get reworked? is there enough money in the pot? and what about repayment if things go wrong? soon now we may be transfixed to the countdown of the result of the greek election sunday night. if it wasn't produce a government willing to act on austerity, europe may no longer pay its bills, no longer keep the banks of greece from melting down. fear of a messy greek exit from the euro zone could send powerful bouts of fear. citizens in other countries want to withdraw their life savings in order to protect them. potentially major runs on major banks. when it comes to confidence it's the unknown unknowns that are potentially the most dangerous. back to you. >> many thanks to simon hobbs. now to the distinguished panel to talk about it. the architect of the original greek debt deal, charles delarra of the institute of international finance. we welcome house member kathy mcmorris rogers from washington state, vice chair of the house republican conference, author of an op-ed, time to cut the imf's credit, end europe's bailouts. charles, let me go to you first. a few weeks ago you said if greece leaves the euro zone it would destabilize the world economy. i agree. are they going to leave the euro zone? >> good to be back with you. i guess we have to await the results of the elections six days from now in greece to find out the answer to that. i doubt it seriously. even the most radical leaders do not speak of leaving the euro zone. many northern european leaders who were earlier flirting with the idea of an attractive option are now recognizing that greece staying in the euro zone is the best prospect to at least help stabilize europe. a lot more needs to be done. >> before i get to ms. rogers, really, charles, how catastrophic would it be? the whole greek economy, the whole greek banking system falling apart. no cash. the authorities are talk about stopping atm machines and silly things like that. no money, no nothing. how catastrophic would it be for europe and the u.s.? >> i think it would put us back in a global recession. no doubt about it. near the edge of a global depression. greece may be a small economy but it is symbolic of the europe sovereign debt strains. the fact of the matter is the exposure of the ecb to greek institutions is more than double the size of the ecb capital. so the ecb would be immediately in an almost insolvent stage. you would have to stabilize the other banking systems and sovereigns of europe with massive amounts of aid, the likes of which are greater than is being discussed today. greece itself would go through a period of hyper inflation. unemployment is already at high levels. i think this needs to be avoided at all costs. we know how contagion moves. >> the contagion issue. this is the thing. kathy mcmorris rogers, welcome become. you heard charles. your view is the imf should not help. can you tell us why? >> it is a europe face it is debt crisis and it's a tough situation. it's really up to europe. the e.u. and the euro zone to be making these decisions. greece is the canary in the coal mine. it's a small country. over the past two years where we have seen over $500 billion in bailouts and other commitments, greece and other euro countries are moving in the wrong direction, not making the tough decisions. in greece we have seen their debt to gdp continues to increase. they are still running 10% deficits every year. europe, 23 out of 27 countries continues to spend more. this has hardly been the age of austerity in europe despite the challenges they face. >> i'm with you on that. in your op-ed you talk about a hundred billion dollar u.s. line of credit to the imf which they put into circulation. i'm not sure what you're driving at there. or how can we stop such a thing? >> in 2009 there was a doubling of the quota as well as the hundred billion dollar line of credit given to the imf. this is a blank check that was authorized only a small portion of it so far has been committed. my point is by withdrawing, bringing back that line of credit it would force europe, help europe actually to make the decisions they need to be making -- the tough decisions to start balancing their budgets, reducing spending and stopping the bailouts in europe. >> charles, what do you think of california cathy mcmorris-rodgers view? >> well, i agree with -- i share some of her concerns. i don't agree with the recipe at all. if in the 1980s when we were trying to stabilize latin america, europe had said this is an american problem. fund it out of the u.s. budget, pull the imf out it would have been a disaster. the imf is there to help solve global problems. unfortunately i believe the problems europe faces are increasingly so entrenched it will need global leadership to solve it. i think the u.s., china and other countries are going to have to put their shoulder behind the wheel through the imf. the united states has not even voted through its share of the quota increase in 2009. i think actually i would see the opposite here. i do share one concern that these programs have not been well designed. rather than focusing on fundamental structural reform of the fiscal problems downsizing the role of government they have focused too heavily on short-term budget cuts, mostly through tax increases. >> we're always out of time. can you v give me a brief last word? >> i think out's important that you distinguish between the quota. i'm not saying the united states should pull out of the imf. there are commitments we have made. that's an important role. the $100 billion was a separate line of credit authorized. there's a lack of community indication. it's become a blank check for the obama administration. >> thank you very much, charles and cathy. appreciate it. up next, president obama defining moment that will probably cost him his re-election. here's a treat. take a listen to president obama talking about fixing the economy back in 2009. >> if i don't have this done in three years then there's going to be a one-term proposition. >> all right. that one's going to come back to haunt him. we'll be right back with much more. welcome back to "the kudlow report." i'm brian shactman. a lot of apple news. first they unveiled faster, thinner laptops and the new ios 6. no news on iphone 5 or apple tv. chrysler expanding a recall of the jeep liberty to nearly 350,000. units to check a rear suspension arm that could rust out. crude oil futures fell to an eight-month low and below $83 a barrel. and 23-year-old crystal reas claimed a $2.1 million tax refund. she was arrested and charged after a spending spree. she got caught because she reported her car lost. when we come back, we discuss the obama line and discuss his chances of re-election. "the kudlow report" will be right back. if you made a list of countries from around the world... ...with the best math scores. ...the united states would be on that list. in 25th place. let's raise academic standards across the nation. let's get back to the head of the class. let's solve this. but they can be really well thexpensive.ted a puppy, so to save money i just found them a possum. dad, i think he's dead. probably just playin' possum. sfx: possum hisses there he is. there's an easier way to save. geico. fifteen minutes could save you fifteen percent or more on car insurance. welcome back to "the kudlow report." i'm larry kudlow. in this half hour, not even a hundred billion dollar bailout of spanish banks could drive stocks higher. the dow closed 143 points in the red despite rallying for most of the day. all eyes have turned to the next potential catastrophe of the greek election this weekend. i want to know why the spanish bank bailout didn't help. and the white house under fire for national security leaks. david sanger tells us why he and his newspaper are reporting the leaks and have every right to do so. first up this half hour, despite thousands of speeches and interviews, presidential campaigns often lost based on on-camera slip-ups. take lan to some of the most memorable campaign gaffes. >> i actually did vote for the 87 billion dollars before i voted against it. >> our economy i think still the fundamentals of our economy are strong. >> the private sector is doing fine. where we are seeing weakness in our economy have to do with state and local government. >> so will obama's private sector flub haunt him through november? joining us for a kudlow face off we have howard dean and sean spicer, communications director at the republican national committee. welcome back. howard dean, flip-flops are bad for your presidential health. we showed the earlier john kerry and john mccain. i don't see how president obama is going to get through this. >> president obama is going to get through this fine. most people know the private economy has done better than the public economy. then you have mitt romney saying he wants to fire firefighters and ambulance drivers and stuff like that. look, the bottom line is this. it comes down to what you believe. people believe by a ten-point margin barack obama is working better than mitt romney could at fixing the economy. they believe by about a 2-1 margin that barack obama cares about ordinary people and mitt romney doesn't. it will be hard to over come that for romney. >> sean spicer, with all my respect for howard dean i don't know anyone that believes obama has better approval on the economy. isn't the republican national committee going to show the flip-flop? first president obama says the private sector is doing great and then says, oops, the economy isn't great. the flip-flops are dangerous to your presidential health. >> they're horrible. for weeks they have been trying to have their surrogates walk back some of the things they said. in this case it was the president himself. i think the difference in what we saw friday wasn't a gaffe. it was an admission as to the economic philosophy of the administration. they put the public sector first and the private sector second. the problem is this and governor dean knows it from his experience in vermont. you have to have a thriving public sector -- excuse me, private sector to pay for the public sector. we are all in support of firefighters and police officers and teachers. but those salaries can only derive from people who make a living in the private sector and pay their taxes and fund them. if you don't support a thriving private sector you can never have a public sector that's good for your community. >> governor dean isn't that really the second part of the flop that president obama made? i mean, you know, of course, the scott walker victory was constant. also, he wants to cut back on pepgss and benefits. so do the people in san diego. so do the people in san jose. this is a national movement. obama wants to feed more money into the various state and localities people want to cut back. >> first of all, the job losses in this country are mostly public sector losses. i would agree with sean. i think you do need a strong private sector. that's what the president is beginning to deliver. we have had significant job growth over the last year. the problem is it's been partly offset by hunl cuts in the public sector mostly by republican governors. also i disagree with your notion that there was a big victory for scott walker. walker lost control of the senate which wasn't reported by the mainstream media surprisingly, the other night in wisconsin. so i don't think scott walker had a good night. now he can't get his stuff through the senate. i think sean's right. we want a strong private sector to enable a good public sector, particularly in education. we have had a stronger private sector under barack obama than under george bush. >> first, larry, just to correct -- not to correct the governor but in wisconsin, yes, they took control of the state senate that's out of session for the entire year and through redistricting we'll have it back by the time it comes back. that's not a big consolation prize. second, there are millions of americans -- 23 million to be precise -- that are out of work and struggling to fill up their gas tanks, pay health care, pay their kids' college tuition and find a job. unemployment is 8.2%. i don't think anyone in this country really is saying, hey, the private sector is doing well. if they have a job they are concerned about whether they will keep it, get a raise. so i'll be honest. anybody that's out there saying the private sector is doing well are probably -- they are welcome to vote for us and have a governor like mitt romney turn this country around and push for a thriving private sector. >> again on this point sean is making so eloquently, doesn't president obama really reveal himself in this whole flip-flop that occurred friday as a big government man? not as a private guy. he reveals himself, wants to throw more money at the public sector unions which were voted down in the scott walker election and the california elections. in other words, doesn't president obama really play his hand and it's exactly what folks don't want? >> when mitt romney was governor of massachusetts, massachusetts was 47th out of 50 in terms of job creation in the private sector. this is a ridiculous argument. the president wants a strong private sector and it's stronger than when he took the office in 2009. the big job loss problem, as i have said before, and the people at risk of losing their jobs are fireenmany, policemen and teachers. if you want a strong private sector you have to have a strong eng equation system. i don't think governor romney understands that. >> i thought it was the private taxpayers. men and women in business and who own small businesses that were responsible for financing the public sector and sometimes the public unions forget that. aren't they at the beck and call of the taxpayers working in the private sector business? >> people who serve the country, most are dedicated servants and do a great job. firemen, police officers, teachers. they are great in terms of what they do for the country. at the same time, if we don't have hard-working taxpayers out there, we don't create a system that did you want stifle job creators with regulation, with obamacare, things like that to stop the growth we can't have the public sector we want to have to support our community. i think the problem here is that with obamacare, with the regulations, with the added debt and deficit and the mistaken priorities of the administration, then you're never going to be able to have the public sector you want in your community because there is not enough funding for it because the taxpayers can't afford it. >> that's the deal. i don't know if president obama gets that or not. i believe former governor howard dean in his heart does get that. i'll leave it there. governor howard dean and sean spicer, thank you so much. >> thank you, larry. up next, class warfare by the radical left scared the super rich into taking super measures to protect themselves. we'll show you what it feels like to be dangerously rich. still ahead, is the white house leaking national security secrets for political gain? we'll talk with the new york times reporter reporting the leak. he has every right to. we'll be right back. 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[ male announcer ] now citi thankyou visa card holders can combine the thankyou points they've earned and get even greater rewards. ♪ a major late day market sell-off. initially euphoria over spain's bank bailouts fizzled. fears over the global slow down lingered on minds. all three indices closed lower on the day. the dow is down triple digits after rising a hundred points in the open. why did apple get sliced? lots to talk about. we'll go to the ceo of edgeye risk management and doug cote. why did the spain thing fizzle out? what does it mean for president obama's influence over there? >> it's a disaster. today was a disaster for the bulls, a disaster for tim geithner and a disaster for barack obama. if you go through why it happens, behind the scenes, larry, you know this. the imf is secretly having meetings with this, that and the other in europe. what back door promises are made between us, the imf, and most people need to remember the imf is based in washington, d.c., backed with u.s. taxpayer dollars and that is tim geithner's -- i guess that's what he thinks he has credibility with. he went back to the go-to move of hank paulson in 2008. he said, give the market a big bailout. the market will go higher. guess what, barack obama. when the stock market goes up, so do the ratings. >> it didn't happen that way. we got the bailout. i don't know how much the imf was involved. we had congresswoman rodgers on before. she doesn't want more money to the imf. that aside we didn't get the risk on trade. we got the bailout. what happened, doug? >> for investors willing to accept normal volatility this is a classic buy low opportunity. for a clue of how this is going to play out look at last september. it's not just about the troika. we saw the u.s. federal reserve come in flooding the central banks with dollars. that could happen again. it happened in september, in november. not only is europe committed to making sure the banking system will survive but the u.s. federal reserve will step in also. i think this is an opportunity. >> keith, you don't like bailout nation and bailout europe. >> neither does the market. everything that was just said is a crock. at the end of the day we tried the fed whispering last week on them going to qe-3. tried the chinese rate cut. tried a chinese-spanish bailout. the market is fed up. what wall street comes back with is more, more, more. you can make mistakes. losers can win. the general population is tired of it. that's why markets are going lower, not higher. >> what's your rebuttal to keith's cat gorezation category? >> fundamentals look strong with corporate profits, manufacturing, the consumer. europe was supposed to be in reg recession. the first quarter they were marginally positive. what happened there? how come it wasn't so bad? i didn't buy his argument either. >> i'll go with a double crock there. come on. let's be clear. expectations and i don't know if ing had the forecast but nearly the entire wall street group had -- unplacement missed the last two reports. since the march top. this is not good. if you think it's good, dress it up and pretend it's good, but it's not. >> doug, a quick question on that. if conditions are deteriorating. i think things look more anemic in the economy. is that why apple got sliced up? at the end of the day apple is a growth oriented stock. is that because the u.s. outlook is deteriorating? >> first of all, the notion that the markets are collapsing the false. the s&p 500, the dow, a number of indices are positive across the globe. if you look at any investor willing to accept volatility had positive returns. abroad globally diversified portfolio is positive for the year. the notion of armageddon is false. that's why i think it's an opportunity. >> it's not a notion of armageddon. i have had it with the fear mongering, he said, she said. it's wrong to say you can't manage risk on a day to day basis because the dow is up year to date. that's so yesterday. you look forward. everybody and their brother expected a huge gap to open today. you opened a little bit and closed on the lows. agents will be down and europe will be back in the soup. to say it's okay because the dow is up is disingenuous at best. >> i think it was all about greece today. >> great. >> the uncertainty. once the elections clear, 80% of the greek people want the euro to survive in their country. any other strategy would be arm g go ahead don. >> keith, what happens if the greeks vote for the far left government and want to pull out of the euro zone? >> that would be a disaster. the bigger disaster is geithner and barack obama want to make us greece or france. do we want to do more of what's not worked? the answer -- and the people will vote for it -- is no. >> i've got to go. thank you. i appreciate it. coming up, dangerous times for the well to do. occupy wall street class warfare extremism is scaring the super rich. they are putting up extreme security measures. eamon javers has the details up next. >> follow us on twitter and like us on facebook. 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[ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and more. come see why more investors are saying... i'm with scottrade. want to start the day with something heart healthy and delicious? you're a talking bee... honey nut cheerios has whole grain oats that can help lower cholesterol. and it tastes good? sure does! right... ♪ wow. delicious, right? yeah. it's the honey, it makes it taste so... ♪ well, would you look at the time... what's the rush? be happy. be healthy. the notion that my white house would purposely release classified national security information is offensive. >> it's very clear that this information had to come from the administration. it couldn't have come from anywhere else. americans should be deeply disturbed about this portrayal of two of our most important, highly classified operations. >> just some sound from the past two days in reaction to the firestorm over possible white house leak es. ton white house's secret kill list to the obama administration's cyberattacks against iran. the new york times reports on national security led to allegation that is administration officials are leaking classified information for obama's political gain. earlier i spoke with david sanger, new york times chief washington correspondent, author of "confront and conceal: obama's secret wars and surprising use of american power." i asked mr. sanger if anyone blamed him for starting the controver controversy. >> not that i have heard. doesn't make that big a difference one way or the other who they blame. the thing your viewers need to know is we report on national security issues all the time. >> we being the new york times. >> we being the new york times. when we do these things we have a pretty stad procedure. we went through it with wikileaks. before we publish anything we go to the government and say, look, here is what we have. if there are concerns about ongoing operations, lives that could be at stake, let's discuss it now before anything is published so we can deal with the issues. >> that's what i wanted to know. we have a free press. you have the right to do that. is there a place where you draw the line? say for example you had information from the administration that they were about to kill or capture osama bin laden. >> right. >> in your view as a veteran ace journalist for the new york times? would you publish that? would you write it snup. >> i suspect we would hold that story. i have been involved in stories where we have held things out to allow an operation to play out. we might say to the administration, look, we're holding it out and we'll write about it as soon as it's done. >> if you have special counsel or a an independent prosecutor or whatever to look at this and they decide these were national security leaks and they come after you, david sanger, and they want to know your sources how tough are you going to be? my friend judy miller went to jail defending her own freedom. would you take the same posture? >> let's hope we don't get to that kind of confrontation. i don't want to speculate about things that haven't happened yet or which have to have a fair bit of legal advice. i don't know how it will play out. i hope it doesn't reach that point. i do want your viewers to know though that at no point did the government come to us and ask us not to run the story. >> right. >> they did have things they asked us to be careful about. i think you will discover we were careful about them. >> david sanger, thank you. >> thanks for having me on. >> you bet. all right, from national security we turn to personal security. the radical leftist extremist occupy wall street movement has forced many of the most successful americans not to hide, not to run but to fight back. the dangerously rich amassing arsenals and fire power that would be the envy of any army but it comes at a price. good evening. >> hey, larry. we spent much of the last six months going across the country trying to find out how they protect themselves. this is a problem as old as the lindbergh baby. a lot of consultants said occupy wall street and the rhetoric of the 1% plays into the concerns of billionaires. it's part of the reason why they want so much security. we asked people in the occupy move lt about that. we have a clip which shows it. take a look. ♪ >> beautiful cars, expensive toys. life of the super rich. these are nervous times for billionaires. even facebook backer sean parker tweeted, i have a whole new set of problems to deal with now. security, extortion attempts, kidnapping threats, death threats, et cetera. he asks, was life better before? experts say the global 1% is casting a wary eye on social instability. in fact, a recent survey found there is concern about class conflict. so there is something to be worried about? >> yes. >> brian says a small minority in his group should make billionaire understand easy. >> i would prefer it never come to that. people are tired of feeling like they are stepped on and don't matter. >> larry, a lot of security folks said it is not the occupy movement which is itself nonviolent but some of the extremists on the wings of the movement excit by the rhetoric you see in this political moment we are in now in america. those are the people they want to keep an eye on. the mentally unstable people on the fringes of any movement are the ones who could be most dangerous. >> a thought occurred to me watching this. is there an anarchist aspect to this? there are people on the far left who hate well-to-do people, want to blow them up. sounds like violence is part of the issue. >> security guys are worried about extremists. they are not looking at left or right. they are looking at people with a political point of view or anarchist point of view or an anger issue and whether or not they are willing to take the next step and become dangerous. going from somebody who will right a screen on the internet to somebody who will throw up at the front door of a billionaire. that's the person they are worried about. >> are there tweet attacks on the sflich. >> a lot on twitter. they are worried about people who take it beyond that. they employ psychologists to look t a the folks and figure out who's potentially dangerous. >> great luck on the documentary. tune in. "dangerously rich" tonight at 9:00 p.m. eastern and pacific. that's it for tonight's show. thanks for watching. i'm larry kudlow. we'll see you tomorrow evening. if you have copd like i do, you know how hard it can be to breathe and what that feels like. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open a full 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. and it's steroid-free. spiriva does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. does breathing with copd weigh you down? ask your doctor if spiriva can help.

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