The averages drifted lower before heading higher into the close. The nasdaq gaining 0. 02 . Much of todays earlier market weakness stemmed from bernankes gloomy assessment. [ baby crying ] the chairman said the economy isnt able to handle the tax increases and spending cuts. We know those comments caused the bulk of the intraday pullback. The market was humming along fine. We did in the end rebound nicely. It was a huge victory for the bulls. The losses, regardless of the cliff and its aftermath, we need to head off the personal Portfolio Management errors before they cost another dime for us. Today we got two phenomenal examples of what could go wrong in banking. First we had hewlettpackard. If you are like me, i have both and hp pc and household printer. To finish at 11. 71. Best buy. The big box retailer, i have not once but twice done in the last six months. Closed at 11. 96. Two household names that you may have been lured into only to have your hopes dashed. Two unmitigated disas
And it all began with one simple story. Its a beautiful story, and its a lie. We wanted to talk to mortenson about that and some other things, but he didnt want to talk to 60 minutes. Steve kroft. Nice to meet you. How you doing . Thanks. Got five minutes for us today . Um. [ticking] we wondered how the man who could whistle up a Corporate Jet on a whim. Lets rock. Or throw a 2 Million Birthday Party was doing in his reduced circumstances. Whats it like to go from king of the world to prisoner number 05a4820 serving 8 to 25 years behind bars . In my wildest imagination, when i would project myself into my late 50s and early 60s, where i would be or what i would be doing, if i make a list of 100 different places or 100 different things, here would never make that list. Welcome to 60 minutes on cnbc. Im morley safer. In this edition, we look at stories of crime, punishment, and what money can buy. First, the highstakes world of japanese organized crime, where big dollars saved the life o
It caused the averages to slightly rebound. The dow closing up 46 points, pretty impressive. Call me cynical, but i think we need to be careful about getting too excited about any near term resolution. How many times during the debt ceiling debacle, remember that . Did our leaders insist they could hammer out a deal. Even a huge grand bargain to fix the deficit only to have the negotiations unravel. Until we get a resolution, the fiscal cliff will be the most important issue out there. Tonight as part of my game plan, im going to give the historical prism as long as the cliff is hanging over our heads. As a grizzled veteran of the markets, i searched my memory for the perfect analog for this moment and found it in something that happened more than 20 years ago before i give you the investing framework for the next six weeks, lets go over the more time sensitive stuff and game plan for next week. Shortened week because of the holiday. First off on monday morning we hear from lowes. Home
Youre in the cnn newsroom. Im don lemon. Diplomatic efforts are intensifying to put an end to the deadly fighting between israel and hamas. Even with International Calls for restraint, preparations for an allout war are taking place. 65 palestinians and 3 israelis have been killed in five days of air attacks. Hamas says ten members of the same family were massacred during an israeli air strike in gaza. Israel said it was targeting a top militant. Air sirens screamed out at times in tel aviv for a Third Straight day. But two rockets headed for israels largest city were intercepted. Dozens more rockets were fired from gaza into israel including one that hit the town. Injured an unsuspecting number of people. Meanwhile, egypt and president Mohamed Morsi say discussions are under way in cairo and Arab League Foreign ministers are set to visit gaza on tuesday. Violence has become a daily nightmare for People Living in gaza. Anderson cooper joins us now. Take us to the ground and whats going
All right, wolf, thank you very much. Israeli troops are amassing on the border, waiting for the world to shoulder their weapons and cross into gaza. For people in both gaza and israel, this war is well under way. That is what this war sounds like in israel. Wailing sirens warning an hamas ha rocket is only seconds away. This is video from the Israeli Defense force, a missile hitting a home of a hamas leader. Theyre proof that the exploesers are stored in buildings. Spearheading talks aimed at ending the violence. Its impossible to know how this will play out. Just remember that four years ago, the last time israel invaded gaza, 13 israelis were killed while 1400 palestinians died. Ben wedeman joins me. Does it look like were about to witness a ground war here . Well, it certainly looks like preparations are being made for it. We have seen a lot of heavy armor going by on the road right next to us, tanks, armors personnel carriers all evening long. Theres a lot of soldiers in the area,