on walall trtree ononom worries pushing the market lolowe w wh energyystock once again the l learship on the downside. hi, welcome to the "closing be." i'm maria babartomomon the floor ofhe stock exchangege we doavav a wkk market o oee agaiain dada tatalk of a secondtitilus packckag settingng the tone earlier. laura soso part of the presidenent'ececomic team,, basically saying thatat t u.s. should conondeder a second imulus package. a lot of debate out that because the fst package hass not necessarilyy helped jusust . we are aroroacng the second d ququarr r rnings seseas. erere'worries about corporate earnings and the t tkk of a sesecotimulus unnerving the markets today. oil another ise. crude oil dowown .3.37 beararll lolow $63. as we lookk approroacthth final strichch, e e dojones near the lowsws othth afternoon, a dlilie ofof 120 points s at 8205. the one standout, the bksks

momost higher daday. banknk america,jpmorgrgan wells fafargononhe upside today. citigroup ununde selling presessu.. nasdaq eaker. chnology still a wierer on thee year, downwn99 points.s. nonenethesess down about 30 pntt on sdsdaq 1.%.%. and t the s&p 500 weaker by 13 popoin, 175% lerer at8.85. r r te covering the m martsts the nnyc andnd nasdaq, bertha ombs our eye on the floor r the nyc tayay. >> that s&p level something people have bebe watchchinhe.. dipping bebelo i i 200-0-yy movg average to the lows off may as e e e thmajor ereres here hihittg the spring lows. the dowririt now att its april low as itt falls below8200. you mentioned,ththe markett talk tododay h has been about tt second ststululusbasically unundecocori the worries t ttt people hahave abouout isiscono ananwhether or not we're g goi to s s things start to tnn here

in the fourthharter. th treasury options continue t t be a major focus. today's g getngng on fairly wel. rick will have me onth.. much mororsusupp c cing in the next two ayay of course,e, warare waiting for eaearngsgs. on that frfron alcoa which kicis thiningsffff tomorrow aftetetht bell todayay i offererin bobot u u casee that move therere shsharmove to the upside this afternrnooasas t ceo speakingg n russia saying thahat he tnks memeignsff a turnarououndome pickup in the enomy in chinana and also singsisign of bobottining some s secrs like the aoo sector here in the.s.s on the otherididin the mamatealal stor, have you warehouser.. that's weighing thinin down. is cuttingivividds from 25 cents to a nickel, 8080% tt after havinincucut from to20 cents earlieier this year. stdard & poor's says w we' se nrly $50 billion of dividend cs so fafa ts ye..

ththe industrialsalso gtiti hit ha. this morningngpmorgan cutting its outlook on thehe ilroads sayiyi i it does s lower volume. ee big safe havens t tay havave been the ones that w saw yesterday. e consumer s splplesnd health care, hmoss in particular geteti a big boot boost frorom r rm emanuel l anththe whwhe e hoe saying maybe trere i flexibility on a gererent plplan today looking much healthier r anan they hahave b. brn shactman at the nanaaqaq, chips were hotararli ithe day buttold t thi afternoon. chips have to stayay cool to perform wellll. thank yoyo very ch. wee down to interesting lelel rere, folks, becausee go backo where we were in may, and we burst through thther weakened over the lasas h hou or so. talk aboutpepecic nameses with mimicroft down 2.4%. there are e poportthat they are negotiating g thth eu ov the anti-competitive issues w wit internet explorer. the word i is th want too get

al done beforeew leadersrshi momos s in that pace. ta a abo someofof t weakness here. want to uch on google. thth key w wit google, .97 and change, has nlolose under4000 since e yy 22ndnd. we're back tomay. take aook at other names owowin weweakss, yohoho dell the same d oracle d dow 1.7% keining ce with the market. wewealk so muchababou oioil. we'll get t to sron in second. the trend lately, oill is wn. solalaststoc aredown. a good bellwether,, t t whole sector of the nasdaq is down. vivisly, if oi i't too high, they'r're tt going to invest insolar.. finanaiaialsre mixed todayay, b al of the discount brokers are down. we're talking. . ro price,e, amamerrara, schwab tthth wnwnde. berthaha t tal about the chips, the entire s s conductor upgradeded intel has now t tned netive.

marvell,l, tyy uppedheir 2010 growth f fececasby 50%. so listen, it might be down totoy but bank of america, merrill lynchhuttish ouout own is thesese uiuiti. wawant to leave you witit apap wireless, upp 2.6%n an upgrara. that's itt for the asasda araron epperson frontnt andcentr onon again down athehe nymex with the oilil tradede >> five straightayayof laws. crude pricess rhtht now settltl right belolow $63 barrel and continue to f fal and electroni trade. wewe'r payinglolose attention t wherere e e s&finishes today. that 88880 level is othat a lott of traders are looking a at vy carefulllly. the fact we are this l loweans a lot ofololks thinke'e're going to slide to o th $60 lell rhrhapfor cruderices.c we got a r rept today from m th energy departmtmtt showing it a raed its worlrld demand forecaca

but lerered its forecast g gor u.s. o demand andnd still saysy thatil dendnds going to be a miion oror halff a m milonon barrels less tnn lasas year. itit'soing to t tak till 2011 t get toto t tt pntnt. mamandoncern is a veryy bigig factor here. ile they seegasoline demand aroundnd 9 mimiioion, still l l thanan a year ago. we're going to be paying close attention tthe supplyy picture frfr t themerican peololm initute this teternn at 30 d tomomoowow morningrom the energy department t an platt survey alysts is lookingng f a build inin gololin and didiilil lats and for cdede s splplie t be down. as we see, a lot o o supply out there, aot of analylyst expect 'r're ing to seeee cutbabackeven further. the big story in n ee nural gas market is whwhatapapped to ung day. ung,hehe etf that tracks e

naral gas commomodi w wasalted forrewew pending, that thth have decided d th'r'reot g gngng to issue any more ares bececau they've alreadad i issd d l the shararesututstding. therers s be a lot of ntntversy about theeimited number off srere and the impact that has had on theommodity itlflf. a huge dececli in natural gas prices, down over 7ear toto date. ckck, you i in chchico.o. >> boy, shonon it brings up so many questionon etmaybe having pititns as g g as s seef these commodities. far as the ten-yeaear, look iraday chart. we're atat the lowest yields of the day right now. another thining inin onon, we j mamadeewew lows i in e equity markets. even though there are a a lo of stories rererdrdin supply, and wel have $19 billion r reoned tens tomorrorow, the akakne in eqtitiesthe nototnn that grereen shoots weren't'terery green, that's t takg i totoll

akak economies td to s sower intererestatates if you looooatat that muimimth tenurerewewe cld close att the lowest yieie in aboutixix weeks on a ten-year note daday. whwhisis that important?t? tomorrow it's goinin tave to grapape e wi the other side of e e streeee we e enomy putsieield down. susupp t ten to push yields higher. thththree-year wasatatr successfsf.. too p par two tomorrow. back to you. > jning me on the floor t lk more about the markekets thatuccessful bond offering, what to eecectomorrow, zachary, a aast m mon contributoto along with dee schreiber, ceo ati.i. goodod thahave you on the pproa. whwhato we wantt to look for fo the second half? alcocoa kickingff tomororro buararee e eececti any suririse h hee in people arare expecting g rnrnin to be down, ghght. >> yeah, thehey couldee positiv. there's the sisilv lining is that earnings could be a l ltlt bit morore sisiti.

weee a a capititisist economy.y. we've addeded a l l of c cital th systemem some of itight end u in corporate enings evenhihis ararr. >> chchar the d dow industrials today athe lowest l lel since may 1st.. not a lot of action sincece may after thatat h hug r runp from march h anoioi down for f fiv straigightdays. yoveve bn puttiti moy to workrk. how do you wawa to invest rere? >> a lot of people h hav been expecting ththe e wagoing to be normalumumme lull tt's part of the picture inn a a good yea. it's a an eventfufu six mthth the's a certain pse you cacan expect and peoeopl e waing on earnings. downward bias. i ink you're g gngng to ha an upupwa surprise in earningngs b in gegeraral, a global econonom that's g gngng right to the tttt li o of a l l ompanies that this is a a reallyood time t to kikindf pick your poioint becaue you do h hav puback, some of which are q qui dramatic. >>eoeoe have been waiting. some peoplplmomore risk arsrse anan oers. what is the catalyly to g t tt

ney moving again? >> if the calysts were evident, peoplplwowoul already ha b bn putting mononey to work. it's the slow accretion confidence. isis ia wait a minute, mamaee e economy is not good but ee markets arere in a aore stabe situation.n. if you see thihing pull bk k by 10% in aday, it's a a really god time i in ururositive in general toto get f. that's a bigig pullbackck. >> you've got onee commododit dn 10% in a couple of da. oil, want to find o ohat you think k abtt tt,t, down 12 since ne 29. do you agreeeet't's ing to be a slslowmove. i i think it'ss ing to be choppy. i i ululd e this weweness, if you're notot fully invested to y stocks that h hav great cashh flow. unwsthihingthat is surpririsi,, dididedend yields arare so highh yields onbobos a certificatete ofepepits so low. so youou c r rlly lockn a good return from c chh flow a wait patiently while uu get paid and

until the price appreciation cycle comes back. > di i nt tododo that with individual stockcks or dididen paying etf? how do i w wan to takeadvantage ofof tse divivenends that's aooood popot.t. >> i definitely y thk k u wawan to be in stocks. i think youwant to be in some therecession-proof b bld ununtion, add see of the higher growth stocks a this susumm cycle startrts to wane, u'll be ab to bubu good values. i i thk it's going tondnd up t be a prettyoooo year o pa >> oil downn12%nn acocole of trading g ssssio here.. what do i w wan to ,zachchar do you think t ts s isa movemen that yououant to get on the sidelinene becacauswewe may v ver well continue tsee oil trade down. > oil overshoots andd undershoots inin a d difrent periri o of me. ititas avolatility. when you see 12% pullbackwith ininduriri activityicking up globally, not ft lining in the united states s buononly mainally increasing, this is time t t thk intetes of beingg longngvever e course of t the

year. but t u'u'veot to be prepared fothis sort of, i it's rurunup to 70 inn t thr weweek it's goig to rounun downbebew 06 in three weeks well. >>o o u agree thth that? > ihihi that o oilss ahead o itselflf i don't think we h havthth ececonicic backdrop to get t thl engine going g an we're kind of watctchi o oiln termsofof supp. oil goes lower thinkanan i'd be loing to add a at some pnt a little bit lateteinin ts summerseason, mbebe augusta. >> done, zacharary,oooodo seeee yoyou. we'll talk to o yo later. we aren n e final stretch. 45 minutes before ththe osose bellll. the dow jones ininduririalverage downwnt t th ls.s. 140 on t t session. th's's due to weaknesess in the oil stocks among hers but it is broadbased with the e exctiti of a handfulofof bankingng stoc. up next, bigchchgesonon t horizonor how you can trade

commodities. we'll talk with cftc bart chiltton to a a him wheheth seining limitsn cmomoty trades can curb s spelalars and hohow chrarast change couldld impapacthehe mamarks s an your moy.y. wiurur rs isbebelied to b b onone of the gogornment's publi priviveenvestment prrara. is he waining toto participate. find o if he'e' already started raising funds t to i invtt and n we migight get that announunmem of w w else i is involved.. if he thinks the b bks may be rereluananto sell t tox assets toninit.t. we're back in a momome o o closing bebell could someone totosse an eleven sixteeeent wrench over here? here you go.o. eleven sixteenthths. nnouncer) from desigigni s se of the world's s clnenest d d mo fuel-efficient jet enengis.s. totouilding more wind t turnenes anannyone in the coununtr....

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welcomeback. the commodity futures trading commission sayingg it will considerersetting trading limit on other commodities. mpton pierson in washingtonn wi t thetory. >> a a t thi and a statement releasas e earer today, we arned thathahairn gary giginsr r is f fac c csiderin toh h ne rules too clamp down o spspulative trading in mmmmodies markets and look for public hrings on thesee mattetes

in thecocong monthshs. chairman ginsler n n strangerr because e he b bee testifying a lolotonon capitol hillll recect front of cgressional commmmitesesbout the agency plans forrrerelatory rororm wantnttoto hr from sisinees, mamaetet participants anand consumers onon w wther toto s s posititi lilimi onllomommoty futures cocontctcts. the focusofof tt first hearing, possible limits on cdedeoil, heating oil, natural gagas and soline, energy commodities with a fine night pppply key iseeor market participants whoho sulul qualif for exemptions fromm those popotition limimits. some lawmakers s say hedge ememions should only go to ose who plan to buy t the commodity like a airnes who routinely y heee positions on contracts veveusus tse hedging commoditieiefufutu positions as part o of a risismamanament strategygy. last year when ll pricess sea cord, there were complaints and speculationistorted those future rkets. llthis against a a backdrdrop o pending anti-speculation n in

congress ttt would d dirt the cftc toseset position limits an spell out in reports t t roles of swaps andedge fundsnn futures markets. arargs ithe no too distatant tuturend possible e gg changes on the horizon. thanks v vermuch. fo more othe proposals,'m ined now in a ierview by rt chtton, coisisoner of ththe commission. go to have you o othe prram. thanks so o mu f foioini us, . chiltton. >> susure good toto bee witith > why are w sininthis prosal now? had so muchh specucutition abot oibebeg all the way up to $1$150 a barrel a almt t on year a dadaand now the proposal coming one year teter? wh now? well, as we talkedbout last year, someofof us thohouge should be dodoin these inings last year r dd i think a lot off members of congreress said t th isis isomething we should bee doing. iihink there's support a at cft fo trying to r rea the rightt balance to e eurure don't too far and prprohitit tradinging wh

needed.. you need speculatotorsn n ese markets. we also want to makake s see it tt excessive and u unenonoc and consumers areaying a fafair pricice rr comomdiditi they purchase. w was there a a catalyst that pushed yourr hd this time ound? >> wl,l, i tnknk in general, you nn look athat people -- u've been tkiki about oil.. wewe h a06% increase.. we've hahad thehe highestst supd the lowowtt demands in t yearar. 'v've en that d dro in the last five dayss b b stillit seems uneconomicic a omething's going on in ththes markrks.s. ththisss one waywe have, tool our a arsalal if youwill, to okok aaking sure that nsumers an't payingngore than they s sululd for oilil or thgsgs, ead, milk, et cetera. >et's talkbobouthe proposal. veves more clarityy on e exalyy what thesese proposals will me, which segegntnt of the ergrg cocompxx they will be impacting specificallyly >> w welt's not actually a proposal yyet maria.a.

're considering the public view which ihy we're goingtoto veve tse hearings. who would think gogovemement wod ask the publichaha to d fore d do it. we'll lten to what people have ay,akake sure wrere not going too f far one w way or otothe put out a prpropalalfor comment and have s somhing in place that w wilmamake sense t market participantsts a to consumers this fall. if you go ahead with b beded on atat y hear from people, but y youo aheadwith this polili propososalitit leaves lot o othe auauority to the exchanges,ow will youork with the exchanges? i i mean, w we' been throuou a period where youou h lf-regulatory iues that di nono work f the nanancl services sectctorutut t exchanges get a lot more authority hehere tell meehohow thatplplay out.t. >> i thinkhe fufureres e ehanges a large ithe united atat have done a veve good job of heing too regulate t tss marketet o their half. but we're the vernment, the onon who have ththe nanal word lookokinououfor nsnsums.

so i thinknk at some lel, there is a limit t to eemount of positiononththat trader s suld beblbleo ave. i'm m no sure w wha that level , if it'ss 51% o of a maetet if is actual number of trades b atome levelel, ouou is nough. atat'she type ofhing we're ing to be looking atat at heings this summer. >> there was some concncnn from some of the smler energy traders,s, smaller brokerage hoes that this could p p them t t business.. w do you respond tothat? how do yoyou lklk a line of not unininteioionay hurting one segment of the markeket keke th smaller broroke?? > wl,l,bsolutely weeeeed to be cararulul o that. u u know, i i seems to meme tha th's's w these hearings are important, we're going t to get the public input fromsmall and large tities to susure we're nonot ininorbrboa, too right t t left.. ihihink we can dothat. these markets have operated effefectllllfor 100 years anan m m re they'll continuee to do so, but t evy y ce in aawhe, we

netweaking. i think the lasasyear, if you askononmers they'll s say someththg g wa wrong in the rkrketand ththeyayayeed tweaking nonow. >> there's's also weaving talke ababt as far as changing h howhe agency communinitetes th the publicic. tell me what youou'r talking about intetes of traransrerey changes. > t public reports you can get atcftc.gov aturur wsite arehelpful to rarade. but t yo almomostavave have an onomics agreeing to rereadomome of ththem we'reoioingtoto add transnspanc, brk out thetrtrads more so you can see what types o of t i entities are i iththes markets and d wh p pcentage they ar at's a als for the metalal complex and i t thi it will it be add transparency and h hpf f fo consusume.. this is s good f fst stepep. >> we willll leavett there. great totoavave u on the progogra thanks very mumuch we appppciciatit, mr. chilton.n.

'v'v been wchchin aaig sell o of forr seral days. thststoc down againanother 1414 >> maria, formerer a a hang grnberg hasprprailed in the company's lawsuit agagain h him and hiscompany star internationall alging they loototed $$4. billionut of trtrus that wassupposed to go toward employeebenefits. hank greenenrgrg tbe the anan foeieigh days in this trialinin new york a and d dend they ever toucheheththe money andnd that ney still is there. the compmpansasaid greeeeururg lied over r th whole thihi and fabricated edence. a jury nonow didi with hank eeeenbg finding h h not liable rr breach o of trust or coconvsion of the money to ares. the e jue e stl h to issue a fil decision. thcocompy says itt i disappointed. but for now majoricicto in only an incremental victory for hank greenberer >> thanks very mucuch, otott.

we'll contininue f flowing th. a victory f h hangreenberg for susure up next a cnbc exclusive inteteieiew with devry. how presidenenobama's plan to tataxoverseas profitss wi i iat his mpmpy and wt dodo about theducation iues in this cocouny.y. back in a momome.. mr. evans?s? ts s janice from ononst.. you've b beeinin aront-end crash. . y youeed help? yeah. i'll contact ememergcycy services and statawiwithou. you okay?? onstar. stananrdrd f one year on 14 chevy m mods.s.

lolosi b bel realtimeme flas. 30 minutes to go in thehe sess. i got o o to t te a peek at. chececk t t mil. poppeped on my radar screen bebeususe crcrosdd the x volume level. moving 1.5%. if you look at thevolume,1.1.3 million so far mororththan doub what itoeoes on the average.e. the headlines totoy,y,othing goinggon there. their earnings notot due tillhe enenofof t month. it's a volumeeplay. e stock's haa nicic run. it's up 333% in aeaearo datete basis. milliporeess a biotech l lee science playay, dd it's othe move. maria,a, bkk tyoyou. >> thanks s ryry mh. amimileone for u u.s educucat de vi. the e coanany ringinin the closing bell a aost aonth ter it rlaced general

motors. shareses hee gained over 1%. nce its ipo in '91,1,ththe stoc is up 3,900%. how abouout a 0000 rretn.n. joinin meowow withnother ccc exclusive, good have you on e program. congratutulaonons. this really y a a m miltoto. i wawas reading the n neses ear. you grew up in a detroit burb. your first collelege job w an ternship. a at neral motors. >> now the companany replaces gm in the s&p&p 5.. hodoes that make youou fl?l? >> bittersweweet growing up in detroit, i never in my wildest dreams would have thought thiss could happen. > dyoyou see aig change in termss o ownenersp,p, instititutnana individual nership, any change in terer of cocorpatate landscape now th yorere ithe s&p500? >> i t thi it gives more visibility, more poposu, and that's a good thing. this is a greatmilestone. always nice to be recognizededor

what you do. but thereal recognition n go t o the emplploys.s. just onene tngng o on that.t. some people wouldld he e a rty or whahavever celebrate. we're o offing 500 scholarships to celebrate the 500. >>ell us abobo ththos whwho eligible? >>nynybo laidoff as a sult ofecect restructurings i in e e ececony. ananof our degree grantingng schools, includidi our most recent clelege in brazil we acquired, chamberlain collllegof rsing, devev r rye universitity. >> we haveve r reashift in the onony. clrly it'senenefing what you do. it's all about wh you're d doi in terms of educating people t get back into the rkplace. >>hahat'right. w wit different sllll tsts. how do you s thiscocono shifting? arweweontinuing to move fromom the manufacturing g knowledge-based economomy h ho does i it ay out? > tre is a shshifrorothe manufafactining knowledge base. suppose tss gm devry thing is

a bitsymbolic. people are hiringng. there are industries that a are hing and srtrtes particularly in healthth care. so that t is a a majorshift. ggggesemployern n thcity of cleveland isow the cleveland clininic. it's not aananacture ter anymore. soso that's we've increased rr rsrsinng enrorollntnt, added more nursingnggg colleges to address that shortagegeoror rses. >> w whe a arehe other shortages ororhe lack o of knowledge?? what kinind of skill sets e neededed t thrive inin an econo like we're i rightht now?? how do yououeeee it. >> certaininly health care, technolology einineeng, mpmput science, networking, we've r roldd out a a programam and simulation p proamamng these arellll t people programming thgames ashat industry has owown. so technologog d it's health cacare >> and are youou s seeg anequal number off js cut inn somee of the traditionalarars that used to be e ee job creator? >> we're stilleeeeg our

gruates able to getjobs. infact,evevry university is own as t the employment oriented reeroriented iversity.. ovover0%0% ofof t graduates are employoyedn n eir fieldof study within sixmomohs of graduation. let me get ur thoughts what's h hapnini in the ministration here. ththdepartment of chak re-examininingomomof the rulese thth gern for profifitdudution mpmpans. how do you f fee a aut that? atat kind ofhanges might e?e? >> we are vevery positive in th admiminirarati. i don't t inink ere's ever been aa betterreresint for educacaonn than this prpresent. don't think there's any dbtbt ababouthat. also t education ctctor crcrary arne duun. wewenow very we,, h h used to the head of f thchchico public hool. that's w whe w wre based andwe rkrk together to creatate a dual enrollment high school wheherehe ghgh sool students areetting aollege asciate's degree a at the same time. we like thatrelationship.p. >> what's yourhohoug on the new nba online? >> mba online?? >> yeah, a tt of pepeop a are

lking about getting their r mbmb online, yoyou' g gothe jack welclch nba,a, a numberffollege trngngo offer onnene education. > wrere findingg online education n isveve effectctiv it's amazing. i coululd give you a a l of examplesofof singlee pents who the onlnly way ty could getet t deee is going online. 're seeing t tt at our keller degree of management,, ouou 20,000 mba studentnts tatangng online urses, almost lflf of em. >> mr. haururr, we'll be watching you.. cocoratulations on m movgg into ths&s&p 50000. daniniel hambururr.r. we ee in thefinaltrtret with ththe w w nes industrial ample lower than 130 inin. gogot ouout 30 mites before the close on the day. tomorrrrow the g govnmnmen may phenol unveil thelalan toake xixi a asssff banance sheets of the bananks charlie g gasrino will be backk withth se e the partrticanants and d oo they may be.. we'll be right back.k.

back in a moment. tatangng i rightful place

inin long line of amazingg peormance machines. this is the new e-e-coe.e. this i is rcrces-benz.

welcome back. cnbc's c chaieie gaspariri hearg now that t tomrorowill be th dayyhat the government uueieils thplpl toake t ticic assets off ofbanks. he joins me with somome of the names of participapant >> tomorrow anand momorr and tomorrow. how manyays have we referred to this as tomorrrrow ththeyad this thingg ckck, the nine firms that aree gng to d d thpublic private partnershipip that's supposed to buy the xic assets off t the boooo with som government help. they had n nienamesicked from what i undnderananlast wednesday. th's'shy we rorted last wednesday we were toldld point blank that the firms w we susupped to happened b bac fina paperwork last tuesday night which appapantntly they did.d. lien, i'm hearing it's ppppos to be announced tomorrow. itit cld be delayed a ather day for publili relations rereons. bu one of f ee positive thgsgs abt t th delayayggthis is we get to k kpp a running l lis of thee f fir noww i i this progra and we have that lisis right oww as y you know, we reported d it

already that w wilr r ross'siri isnn it.t. angelo gordon and ,omome sort of combininedidid they'y're goo put in together. wellington asset management, boston-based moneyey management firm and lalackck, larry fink's firm. that's a little bit surprising only becausehere was some specululioion at maybe larry would pull ss name out of it cacausof all thesoso oftatalk about h h doing so much stuff for the treasury iththe whole bailout practicece that would obviouslyly b a mistake because trere nobody th knowss toxic assets better th this guy. hehe w o onef the founders of the mogagageacacke markrket before it bebememe ttox.. he did the gddmomortge bonds d player in tss market foror 25 ars. he's onenef f e exexpes. and fromhat i u undststan the people in t,t, youou know, i wa alwaysys l lukarm onhisplan. remember it began witith ee bad bank. i was the first toepepor they dip that had i ide to use governmentntononey to buy a a te assets off t the bookoks.

eyey'vdone this publicprprive thing whehere thehere se private money in and it's a a scacale d veveioion. the bad bank wasas going todo trillions. this thing is ining to buy or attempts to b 20 to 45 bibiioion,omewhere in that rgege and nono clear whetheher ee ban will sell. it's goingngtotoe interestiting when they unilil th. pefully this is whatat can be done to getet the rtgage market moving. ice discovery, possiblyly u ge mororagage or securitizatio. banks need toetet some o that bad stuff off their booooks to continue ndndg. >> chchare, thanks very much.. i ththin some of ththem are cocoting on the trsury fororngg sosomeffhese nknks to selll t assets.. later and, i will be talking with wbubur ross about that plan. fifi o outhy he thinksshe assets are so aca attractivee a if thosese b bks are goioing t unload the trtrouesessssset or llllhey be reluctant. me for the finalal call ritt now. analysysts blaming b bad wther r

dampened s sal in june. with more on ththat and how t t trade t t retail sectorrss scott nations atatatio shares dd optionon aioio contribututor nice to have yo on theprogram. if it wasn'tt b badweather, wt was it? >> i i think it t wa justthe ct that things s ee so bad. i anan >> still hoardingcash, hu >> the c conmer has beeee in th fetal posisiti f for monthsnow. i don't ththinththeynow what the weather is like, goodd bad or didiffent. so i don't't tnknkhat's really the problememoror retailerers. i think it's the fact that fifinay,y,consumers have gotten e saving relelioionnd fortunately, they've gotten it at aimime when theyey probably shshou be ending a at least a a far as the econonomyss ncerned. thth general tone oththe market that is a pblbl, not necessarily the weather. >> what do you wanant t to do you'u're retailinvestor right here k knongng that people ar hoarding theheircash,knowing ople are still not sure aboutut spending toooo mhh momoy?y? hododo invest in that environment thenen >> y h he to go tthe least

common dominator. atat idollar store, walmart,t, maybybe target, namames like th where peoplele have to ssho you have to gogo t placesike that. viously the higher end names are reallyly gngng to be ee one that take itononhein. so y y have to go d dow scale a little bit.. whwhenee bought themem, those wt unce as much a some othe highgher e endamam. for righght w,w, tt's the defensive play. we'll see uu tonight.. thanks s so ch. we wililtatalk with you soso. wewe areciate it. thank you, scott.t. e you soooo coming up toninighonon fast nene ocockslower for theecond day this weweek commodities, financicial l lea e decline. what are the safeavavs toy? where will theeadership change and how?w? we take yourr position.. cocoa said t relelea e earngs totomoow afternoon. how to do you trade ahahd d ofhe results liveve tigig right after "closing bell." we are zeroing in oil. prpric o on a steepep dlili sin hitting a rececor high last summer. prices arereowown again dada

n weeeee a r rebndnd thisumumme or are things headed furtrthe south? alalrey with the opportunities in the oil patch?h? we areoioingto checkck i ouou next. > we're dcussing wheththerhehe xwost can p for h heah carere reform without raising teses and hurtrtgga potential economic recovery. st w witus. since re/max first openedd

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w welmeme back. friday marks one year sincece o peaked at $7.7.50 a barrrrel crude e s s sie b bee on a a sh decline now trading a at $62 a barrel after hitting a hh for the yrr just last weweek isis ia level that russian presidentt dmitry medvedev seee as a a fr ppcece. tell me wt he said whmeme stst lt month.h. >> i would sincecere like toto ho t tt the growiwing priceses r oioi and g gas are the s siglsl ee imimovovemt in the economy. i closely follow t changes i theprpreses. and what w we veve now somethth betweeeen 60 and 70.s.ololla pepeararl, these arere t prices

ofof 20.. anan a ttt ime, we tugught that theprices are --- were very hihi.. todaday, i i believeve tt t the prices are fair bearing inind that thehe prices pkekedast year hitting almost $0u.u.s. llllar >> joining mee talkkbobout oil is managing director of oil and gas research atat oppenenimimer mpmpanand chief investment strategist b be e phoenix.x. od to have youn n th prprogm.m. >> good afteternn n toou. >> whehei i wa inrussia, john, some of the peopleen the ground told meme when oill got d dowto2 a rrel, theovoverent in ruruss was p ppapari for $20 a barrrr oil. erere s real woror oilil would going even f fthther lolowe whatat a y you eects for oil secocondalalf the year? >>e'e' been lolookgg for8 to 26 as a rangege a lot of bls had opportunity to take crudede oil prices hhehe

in the pasast couple w wee with sasaststor in kuwait and l the ll tap the activitytyn niria. we're looking for $80 wawas the endf f th year. i don't agree wiwi s som of the policieses psiside obama is puttining rwrwd in an enenerg bill and think t tt't's ing to the consumer, w wheereryou're talking about e & & p c comnies not beining r rdy to meet some of these cbon restrictionons the presidentt talking about refinerieses have to meet new isissi standards thatrankly th c can and haven'teen able to do ththat in 30 years. the fact hss puing it out there now, i' concerned aboutu that a andoo lookfofor a back a covery in the economy y waward the end d ofhehe year. i think $80 cld be justifieied? whwhat specifically woululyoyoue s changed on theneney lilicyn the table right now? >> i don't think thesese e & p companies, what they c cldld dos a way tovovoid the carbon alrnatives is to b an alteteatativenergy company, cocompy like exn would g gobee up a wind or solarar company to etet tse restrictions s spltlt

to trying g to make themm themselves. 's's cheaper way toto avoid that. i i dot think in the e e r weee going t see much benefit from tt.t. whwhat i do think c cou h hpen ththescocompies whichave been obviviouy y ve unregulalate a a gog g to look fororififfent ways toto t to plala this. >>ow do you u e e it >> that exxonss t g goi to get into solar a oil andd wind.. they will stickkith w whathey do. as far as anan energy policy, w need oneerery desperately.y. we've beeneeeedi it for the lalast00 yeyear noththg g habeen donene. the onlnl way we w wt to get o ofof ts mess wewe'r in is to focus onnanaral gas. o has plenty off natural gagas. oil pricespp 40% so farhis year.. natural gas p pces down % so far this year.. we haveplenty of nataturgas. we have e wh i i estimated t to 50 and 100 yeaearsf f supply.. t t he's the esesent and nobody in governmeme i is talkig about the abundndcece of natura

gas that youou hee right now. ifif we dodononot givive natura producuc a a bak to c ctinuetot develop p ww fields, i i think we're goingg tbe in much bigger meme year frorom n now or two y fromomnow. > wt t you thinkk is behind ththe ve lower? you u meioiod a g goo point natural gas is down. these two usually trtreeinin tandem and thehe's's auge gap hoho weak crude is vsusu how weak natural gas is. >> an.n. >> why? w wel basically becausese oil in my viewss very highly speculated. it aamblingalal a the c cap d d ade is going t to make it even wororse whwhat would like to seee here s thatat t g gernment establish some more restriction, i if uu will, on all the f fincici trading that's taking plalace a ththe commodities side of the business because let's's a didiffenen reality f p pri.

oil pricic coininue torise. there is noo justififitition whatsosoev f f usus to s see $6 oil. ii thinkilil pricicesrere nor lilike to go to oo thahan$70. >>s s at the way y you want to be investing, eecting oil to gogo dn n in. >> i expecect ll priciceso o be volatile. i believe thatifif oil prices continue to isise,yoyo want t t in the e & five or thth smaller companies. otherwrwisou would want t hi -- stock. that's what happeneded sfafar ts ye.. oil pricess have moved u 45 but exexn's stock is dodo. . >> you're dding your head. >> you know what? obviously we saw pricess from 30 to 73 and we're flirting with 60. mu th have downsiside t tdeis there. 're lkikingor 5 5 i'm enthusiastic aboutut t naturaral ss trade and agree wht

whwhate said earlier. i dothink that natural gas defininite t t bter r alteteatativbut many these e & p compapani don'thave the capital expenditures andd bgets set up to youeeeet some ofhe standardrds atathe president is trying to he them lookforward to. ththat going tocause more producuconon oto come offline. look what valerojust said the ototheday. they c csesed rube ba rrefery. sasa it't's g gngo beofoffle for ththrest of the suer, 270,000 barrels per day product.t. ihihinkcrude oil limited doside and i'll be b bing nanatul gas from both enends >> thank youou vy much, johnhn. alwaysysooood see yo we appppreatatyou you joining us. as w we repopoeded eaieie hank grnberg victorioussn the trial againstisisfirm, andii jujustpoke with the c ceo o of star of.f.

he gave me thiscomment, ievever dot that had we were corrrrec on the issues. will continue rebuilding this company and itill te more time thann it did the lalast ti arnd. heheid buildigig. heheays the t taxyeyer and ngress sulul riew how the taxpayer i isbeingpursueued, suggesesti pursued by continuing to pour money in aig. more on this developing story. haha greenberg vicicririou tss afternoon. we'll take a short brbrea the b bkiking industry has been lative outptperrmrm today. fifi t what's helpinghehe move when we come r rig b bk. stay witith ..

welcomeckck i is easy to make a cacase for thoutperformanan o of health care today b regional nknks is a hardersell. looking g atllll theurprises on the session. check it out, toooo look at e terday comparison of the regioiona bank index versus the s&p 0.0. take a lookt the dudust groups,nlnly 2 o 2222 hheher h r today. bass clectively as well as the healaltharare equipment and rvices. whwhat g goi on he? x of 1memembs in the banking index x ar hher heretoday.. i'shshowg you tregional banks which you can see a are ghgher on the session. soso wt't' going on?

i talked to ckck be and been adadinsome research o o there. thth eraof ritutups may begin in thhird orouourtququteter. why isishaha imrtrtan 'r're on the cucusp of t tececd quarteroo it's onlyititr ree to sixononth to se u're going to belieie in it and buyit. the seconond thing is the non-performing as sit growth. will flattennut or gaway allll together. ththers be balanceheet gymnastics and what once were write d dow can m mee to the etetaxide aspredollar f dollar pretetax income for thes banks.s. sisimp put, these regional banks are ontrtric ponies and tee deposits a a l len momoes. if youou t thi in certain r reg the rere e este market is stabilizing g enenhey should do better. y youake a look at e regional thrillers,s, michael ckcksotribute, keycororp, m i, ons, fifrthhird and pnc.

they're either higherror hanging in there. the assets of a decliness the same as a gain in somomecircles. weird circles bututomomcircles.. ba to you. >> matt, thks so much. mamattesesto up xtxt, the closing countdown ght after the breakndnd after the llll, stocks extending recent losses. ee lows of the a aftnoon down 15 of opt ndndusials. if more down days ahead or if e market is readyoo boboun 'l'l check the vitatal gngns 00 p.m. easasrnrn.

fair, straight-f-forrdrd pcing. ththa'what td ameritrade ststan f for ththk k abt it. y pay investing fees yoshshoun't have to? a accnt fees like inactivitity eses? oror mntntence fees? it's s noririt. and you know it. and the thing is, the otothe vestment firms know itit. it's s noririt. but they d do a away. anand atat's just not fair or raraig-forward. tdtdmemeriade. indedepeenen is the spirit that dreses arica's most successssfu vestors.

i'm berththa coombs. very lowolume d.. thatats s on thing that the buls wiwillell you abobo a as wewe w the dow giviv up two months of inins today. a l of t thi volatitityty comin because there arare lolotof players sittingng on the sidelines. pltytyo be uncertaininouout. thee biggege to watch t torrow llll bthe n-n-ye treasury auctioion. auction today a lolo of playeye saying it went fairly wewe.. buttthis one is g goi to be a keonone because this one woulul really, really dictatete whattid of aetite people m mig haveif o s see a secondd stimululus paagage. closing bell straight a aad with ria bartiromo.