banks to lower manhattan this week. our nation s financial nerve center. in the wake of his healthcare overhaul win, mr. obama has a new target. instead of health insurance companies, the president s new villain is wall street. the president has a five-prong action plan for regulatory reform. one, six government bailouts. shut down big bank when is they begin to fade. two, the boca rule limits the risks take know by banks. three, trams pairencey, especially for complicated investments like derivatives. where investors don t know all the players. four, consumer protect. more information for individual investors about the financial products they re buying, notably in the complex derivatives market. five, reforms pay for executives. investors and pensions vote on compensation for ceos. mr. obama emphasized that wall street has nothing to fear from his administration and its roles. unless your business model depends on bilking people, there is no fear from these new rules. [ ap
required. you can t do all of that and the spending side, and then the question is, how much is he going to load on the top end which we will see happen if he follows through on the commitment of letting the bush tax cuts expire for those at the top. it is hard to do it unless you go down below $200,000, and whenever that happens, it is a big political fight, maria. yes, do we know the amount of money we are talking about? the revenue, john, that we could actually see just from taxing the rich? i mean, you are not going to get a real dent in the deficit if you just look at that portion of earners, correct? that is correct. i think that the president, and his economic team recognize that. to go from where we are now to getting to 3% deficit of gdp, think about the deficit now which is say $1.3 or $1.4 trillion which is what they are projecting here and you need a couple of hundred billion in addition to economic growth is going to do to get the budget deficit on an annual
expecting markets to open higher across the board here with dow futures up about 8 above fair value right now. nasdaq futures up about 2 and s&p 500 futures up about 3. this is after the dow evended up 73 points, 1192 and the s&p 500 was up 51197. goldman may get a temporary diversion from its legal troubles today. the company reports first quarter rults results. it s beaten estimates every period. s.e.c. commissioners were split 3 to 2 down party lines on filing against goldman. the agency usually prefers to have unanimous support when it takes action. goldman is acting to the legal team, as well. the firm hired greg craig, president obama s former white house counsel to advise on political and will he legal matters. in frankfurt, goldman is now trading higher, about 4%. and aig is determining whether to pure saw claims against goldman. aig is examining pools of mortgage securities it previously bought or insured to see if they were fraudulently created or sold by investment
bret: make it a great weekend. that is it for this special report, fair, balanced, unafraid. trace: the killer of a 7-year- old is still out there, but now, many sex offenders have an interview. the agonizing heartbreak of a little girl. the news starts now. someone put her daughter s body in a landfill. you do not do this to a little baby. trace: now, a promise from somer thompson mothers . we are going to get you. from somer thompson s mother. trace: where the in a heated debate or a conversation? were they in a heated debate or a conversation? and tonight, word on what could be a serious obstacle. we have learned that the cockpit voice recorder from the northwest airlines flight may not have any usable material. here is why. remember, the pilots in that jet overshot the minneapolis airport by about 150 miles wednesday night. controllers could not reach them for about one hour, and when the pilots realized they were off course, it took them and rather long time to
i choose for my state and my family more freedom to progress all the way around so that alaska may progress. i will not seek re-election as governor. jon: in fact, she says she will swear in the lieutenant governor as her replacement later this month. 3s jon: the big question, why? well, subcommittee answered it in part herself, jon. a tough legislative year and came through a very difficult budget battle. she has been the object of some investigation. ethics complaints, investigations by the state s attorney general and others. those ethics complaints have all been dropped or dismissed and yet they ve taken a toll and she acknowledged as much earlier. this political absurdity, the politics of personal destruction , todd and i were looking at more than half a million dollars in legal bills just in order to set the record straight. and what about the people who offer up these silly accusations? it doesn t cost them a dime. so they re not going to stop draining the publi