story of the day, the federal reserve naming names, telling us which banks took bail out money and how much. we previously did not know that. we talked a lot about tarp, this is the federal reserve this is different and has to do with the financial crisis. elizabeth mcdonnell from the fox business network is here. so why are they doing this now, why is the federal reserve telling us now and what does it tell us about crisis we ve been through. it s happening now because the reform bill forced these disclosures. senator bernie sanders had responsibility for a provision that says look you ve got to tell us the details of your massive emergency aid program for the financial sector, not just here in the united states but also overseas. it s 3.3 trillion overall in emergency lending programs, it about tripled the size of the federal reserve s balance sheets. so, you know, it covers 11 emergency lending facilities and about 21,000 transactions, with a number of central banks and
and fox news fox news is getting an exclusive look at a letter by gop senators pledging to block the democratic initiatives until the senate acts to stop tax hikes. those are the priorities, that s a political power play for sure and chris stierwalt from digital politics joins us on this. what do you make of the strategy chris? i think, jenna, first and foremost, this is an example of how republicans are feeling emboldened and how they are feeling like they can start to take control of the agenda in washington and they re not going to wait until a new congress convenes. jenna: do you think that s what the american people want, these two issues at the top of the priority list? i think part of what has to do go on here and part of the process is sorting out what democrats could conceivably accomplish in the lame duck session and just sort of things you say in order to keep your electoral base happy and show a tough side, and i think certainly with only really 18 days left
treasury bonds. president obama firing back saying a strong u.s. economy is good tore everybody. china isn t really the only one of that critique of the federal reserve. there is a serious debate in the united states. is it constitutional for the feds to buy the bonds in hopes of stimulating the economy. that is a big question that is being tackled in d.c., and on wall street. elizabeth mcdonnell for the fox business network. reporter: what is happening here is essentially the fed is helping to buy next year s u.s. deficit spending. we are hearing from ron paul and other representatives that the fed may be pushing the envelope on the federal reserve act which does allow for the fed to buy u.s. treasuries. the massive spending that is going on could ignite inflation. monetary policy does have a leg to it. the economy may be already healed by the time this intervention by the fed takes effect in the market
economy? jenna: and president bush on the key events of his presidency, what he tells us about 9/11, hurricane katrina and war in iraq. jon: a football stakeout as an eighth grader pulls off an incredible trip play. you won t believe how this game ended. we ll be talking to him and his coach. jenna: something big is happening in lower manhattan. closing arguments in the first ever civilian trial for gitmo detainee. the prosecution calls ahmed ghailani a ghailani is mass murder remembered, cold blooded killer in the bombings in u.s. and africa, but the defense as you might imagine here disagrees with that. david lee miller is outside the courthouse in new york city. how is the defense portraying their client? one word, innocent. as the defense makes closing arguments this morning they have already spent 2-3 times longer than they did presenting their entire case during the trial, in fact, the defense during the trial did not present a single witness. the defense spoke for
money or your life because he has never met my wife. oh! i think, look i think the states are serious. they don t want to tackle serious pension reform. california s budget that it just passed was a joke. i think they are really gonna do this, i really do. i m not saying i think it is right but i think they are serious about it. what would the vice president of the united states, elizabeth mcdonnell neil cavuto s chosen candidate. i would cut the pensions, cut the bloated spending. we are running neil and i, our motto is, why not us? this is a tough call for the stays, very tough call having to shutdown prisons as they are doing in michigan under duress for sometime. the associated press has analysis out there that possibly people, felons who