tv CBS This Morning CBS October 8, 2012 7:00am-9:00am EDT
good morning. it is monday, october 8, 2012. welcome to cbs "this morning." with just a month to go until election day a new poll shows the presidential race is tied. >> could ambassador chris stevens murder be prevented. his former security chief talks to cbs news. >> california gas prices don't soar plus the simple switch your phone company will not do to prevent theft. >> we begin this morning with today's "eye opener," your world in 90 seconds. we're going to win florida, we'll take back the white house. >> mitt romney rides new momentum into the swing state. >> romney delivers a major
foreign policy speech in virginia today. >> the obama campaign feeling new pressure. >> everybody here is incredible professionals, they just performed flaw lesley night after night. i can't say the same. >> is there anything more than joe biden thinking it's up to him to get the lead back? >> relief may be days away for california drivers who are suffering through the highest gasoline prices in the nation. >> they are keeping me at home. >> 91 cases of fungal meningitis. >> fists started flying. wild brawl between two separate wedding parties. one man dead and four people under arrest. >> liftoff. new era in space flight.
>> at talladega super speedway, a 25 car pileup. no injuries. >> drew brees broke johnny unitas' record. >> all that -- >> the washington nationals winning 3-2 and game one goes to the yankees. >> and all that matters. >> spending 90 minutes trying undo campaigning on that but he did it very well. >> your saying governor romney lied? >> if the u.s. were burning what famous person would you save and why? >> i would save oprah she's worth about 100 billion. who would you save? >> my family. >> welcome to cbs "this morning." we have new evidence governor
romney is gaining ground. the race is now a dead heat. president obama led that same poll by five points before the debate. >> romney is sharpening his attacks on the president and today he'll call for changes in america's foreign policy. jan crawford is covering the romney campaign in lexington, virginia. jan, good morning. >> reporter: good morning. romney was one of the president's critics on how he handled libya. subsequently that proved him right. the administration blamed the attacks in benghazi on a movie. romney has some strong words at a speech later this morning here in lexington. and implying some of the president's decisions were made for political reasons. in a major speech on foreign policy romney will attack mr. obama's leadership and set out his strategy, promising i'll affirm that my duty is not to my political prospects but to the security of the nation. romney will challenge the
president's handling of the middle east saying it's time to change course. i know the president hopes for a safer, freer and more prosperous middle east allied with the united states. i share that hope. but hope is not a strategy. >> we'll win in florida. >> reporter: this speech comes after a weekend of campaigning in the battleground state of florida. romney a private man began showing a compassionate side telling personal stories about helping others including a 14-year-old boy from his congregation who was dying from leukemia. >> he said i want you to write a will for me. i got a legal pad and he described the things he wanted to giveaway. his skateboard, his fishing rod and rifle. this is a boy who had courage. i didn't see him waiver. i saw strength. >> reporter: romney is pushing hard against attacks on the obama campaign with a new ad saying the president is falsely accusing him of advocating a $5
trillion tax cut. >> the latest, not telling the truth about mitt romney's tax plan. >> reporter: now romney will speak later this morning here in the hall of valor at vmi. based on the excerpts we've seen his attacks will be sharp. it appears he's continuing what he started in that debate wednesday night focus and enjoying a sharp contrast between the president first on domestic policy and now today on foreign policy. >> this morning president obama ismitting he's not satisfied with his efforts. nancy cordes is here. >> reporter: the president had two fundraisers here in los angeles last night, three more in san francisco today. we learned his campaign raked in $181 million in the month of september alone, the largest one month haul of this presidential campaign.
6,000 obama supporters paid at least $250 each to join the president at a star studded concert in downtown los angeles. the lineup included katy perry, stevie wonder, bone jon jovi and jennifer hudson. president obama praised them all while poking fun at himself. >> everyone here is incredible professionals, such great friends and they just perform flawlessly night after night. i can't always say the same. >> reporter: it was his first public acknowledgment that his debate performance wednesday night might not have been the strongest. earlier sunday on "face the nation" campaign strategist david axelrod admitted the president wasn't completely happy with his showing. >> the president is his harshest critic and without getting into detail you can assume he's reviewed the tape and it will inform -- it will inform how he handles these subsequent
debates. >> reporter: axlelrod and other supports tried to blunt the impact of the debate and shared the same message about mitt romney. >> i think he was dishonest. >> give him a d minus on substance and truthfulness. >> the unpinnings of that performance was fundamentally dishonest. >> reporter: the obama camp has a new ad out a preview how they plan to respond to mitt romney's big foreign policy address. they said he failed the commander-in-chief visit earlier this month and then the tragedy in libya. they said he reacted before he had all the facts in a sensitive situation. >> john dickerson is in washington. john, good morning. >> good morning. >> are there central differences between the foreign policy views of romney and the president, or is it simply a case where romney thinks that there is something
to be gained by the rhetoric? >> i think there are some differences, certainly governor romney's position towards russia is a much more aggressive one. on china particularly in the question of currency manipulation, there are stark differences. what you've seen from texhe e excerpts, this is tone. one of the reasons why people liked president obama when he came into office is that he was going to change america's posture in the world. it's just as messy as it's ever been and there's a suggestion that maybe things weren't as promised with president obama but there's also an opportunity here for governor romney to look like a president, to look like a leader, talk being about foreign policy and to sort of step into that role and that's what this speech is about too. >> with congressional hearings taking place about what happened in library area does the administration see some
vulnerability as to what happened there? >> there is a vulnerability because on the one hand as the obama campaign is saying, romney spoke too soon on libya, the republicans can say the same thing about the administration on libya when susan rice came out and said this was an uprising not a terrorist event. the story has changed since then. so that's something now that the republicans can point to, so there is a bit of a vulnerability. although everybody believes on foreign policy that's far, far secondary to the primary issue of this campaign which is the economy. >> john, i want to ask you about mitt romney and his foreign policy advisers and how he would differ from president obama. there's a piece in "new york times" where he says of mr. romney beyond his critique of president obama failing to show strength of u.s. abroad he has a
fractured team of advisers that include warring tribes of neo-conservatives and others. is there a could herren strategy coming from mitt romney on foreign policy or is it a work in progress? >> it's absolutely a work in progress and in part that's because you don't really know what a president will do until they are faced with these decisions. president obama arrived to learn there was a covert operation going on with iran he had known nothing about when he was a candidate. that immediatelying changed his position on iran and engagement with iran. governor romney is taking advantage politically but there's no bright lines. >> who are mitt romney's senior foreign policy advisers. we both covered the campaign of george w. bush when he was running early on projected he would have colin powell as secretary of state. he was flanked by henry kissinger and condoleezza rice and others to make him look like
he was a foreign policy expert. >> on one hand you have john bolton who is a neo-conservative, considered very hard line. you have robert zoellick, a more realist. condoleezza rice has been advising kbofr romney and getting advice from george schultz. so that backs up the point that he's got a lot of people advising him on foreign policy and so he can be in either one of those camps if you were to look at his advisers. >> john dickerson, thank you. the former top security official for the u.s. ambassador to libya is testifying to congress this week. sharyl attkisson spoke with him on sunday. she's in washington with an interview you'll see only on cbs "this morning." good morning? >> reporter: good morning. andrew wood is a highly
decorated specialist with the green beret. he met daily with u.s. ambassador christopher stevens who was killed along with three colleagues on the assault on the u.s. compound in benghazi. he says the state department initiated an ill-advised draw down security six months before the assault, one month before the attack woods' military team and the last of s.w.a.t. style teams left libya. when you found out the last two teams were being pulled from libya, what was your feeling about that? >> i felt we were being asked to play the piano with two fingers. there was concern among the whole embassy staff. >> what were they saying >> they asked if they were safe. they asked what would happen and i could only answer that what we're being told they are working on it. they will get us more. i never saw that. >> ambassador stevens wanted continued or enhanced security.
the regional security officer wanted enhanced continued security. >> yes. >> you wanted enhanced and continued security. >> yes. >> consensus on the ground? >> for security that we had, that we had known, that we had come to live with and work with there for the environment we had. we felt we needed more, not less. >> so all the experts on the ground are telling headquarters at the state department we need this. and the answer kept coming back as -- >> you've got to do with less. for what reasons i don't know. >> do those believe that if in fact those security teams had not been withdrawn although they can't really know the answer to this, but they may have been able to resist the attack and save lives? >> they talked about that. colonel wood wonders, says armed members of his military team as
well as the companion state department team would have traveled to benghazi with ambassador wood. on that day, the u.s. was down 34 highly trained security officers in libya compared to six months before. the state department told officials sorting through everything they don't see evidence of a lot of security requests that were denied. charlie? >> sharyl attkisson, thank you. you can see more of this story tonight on the cbs evening news with scott pelley. gas prices continue to skyrocket in california. statewide average hit a new record high this morning. nearly $4.67 a gallon. at some stations drivers are paying more than $5. as john blackstone reports the governor is stepping in and taking some action. >> reporter: with gas prices rising steeply for a week, some california drivers are buying as little gasoline as they can. >> they are keeping little tired old grannies at home.
i can't pay these big prices. >> reporter: california governor agreed it's an emergency so he authorized an immediate switch to winter gasoline which can be more polluting but can bring down gas prices. >> i had to cutback on the groceries in order, to you know, get some gas in order to get to work, get the kids to school. >> reporter: prices went up so quickly last week they sometimes change by the hour. >> in a week it's gone up 52 sense. that's unprecedented. we've been watching gas prices for a number of years. >> reporter: the sharp rise was blamed on a supply squeeze that began after a fire shut down part of a chevron refinery in august and a power failure knocked out an exxon refinery last week. with both refineries back in operation, prices have started to go down. when wholesale prices go up the
price at the pump seems to rise immediately. when wholesale prices drop there's usually a lag. california drivers are likely to be paying near record high prices for a few days yet. for cbs "this morning," john blackstone. >> this morning an outbreak of rare fungal meningitis has spread to nine states, seven patients have died out of 91 reported cases. all the cases are connected to a steroid distributed by a massachusetts pharmacy. it is now recalling all of its products as a precaution after the chairman of preventative medicines joins us. >> what's at issue here. what do we mean by compounding pharmacy. >> compounding pharmacy takes medication, not one of the major pharmaceutical manufacturers but it takes medication and compounds them, sets them up, usually for highly specialized uses, and then sells them to pain clinics and the like across
the country. >> are they regulated? >> they are not regulated the way the major pharmaceutical companies are. they seem to have fallen into a regulatory gap. that's something that really needs to be addressed by the congress. >> doctor, should be fearful about these type of injections for back or neck pain? >> at the moment it would appear that all the medication that's out there, that were using to treat neck and back pain is safe, norah. >> so if someone, though, had been treated recently for this, should they call their doctor? what should they do? >> that's quite a reasonable thing. actually all the patients who were exposed to this tainted medication are being contacted. but there's lots of people out there who are concerned, surely call the clinic, call your doctor, find out, try to make sure that they did not receive medication from this tainted lab. >> what do you fear the most? >> i fear that we will continue
to have more patients going on into the future from this tainted lot. this will take us a while to determine that. but i really think that going forward we need to have a regulatory structure that doesn't permit this to happen again. >> dr. schaffner, thank you very much. time to show you this morning's headlines from around the globe. "wall street journal" reports chinese telecom companies pose a security threat to the united states. last night chairman of the intelligence committee recommended american companies shouldn't do business with huawei or zte. >> venezuelan president hugo chavez won a third term on sunday. the socialist got 54% of the vote and enough to keep him in office until 2019. "usa today" reports two justice department agencies say
the atf and dea don't know how often informants are given permission to break the law. the strategy is under scrutiny after the fast and furious program. >> florida today reports on the launch of spacex falcon 9 the unmanned cargo ship rocketed into orbit sunday from cape canaveral. it is the first private spacecraft to resupply the international space station. and much of the country is waking up to much colder temperatures this morning. it is a bit chilly this morning. isn't it? >> when you get up at
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♪ this is columbus day and you're looking at columbus circle here in new york city but you can't see the statue of christopher columbus. it's covered up because of the unique art project. 75 street above the street a japanese artist has built a living room around the statue. so far more than 20,000 people have climbed six flights of stairs to get this close up view of columbus. the installation will be open for six more weeks. welcome to cbs "this morning." we were just talking about columbus. >> we had a teachable moment over the moment talking about christopher columbus and the discovery of the americas. >> did you participate with your children?
>> told them if you discover america you can get a condo in columbus circle. but i can't believe it's a walk up. >> it's fabulous. i want to do that. >> we're going. >> we're talking about iphones. >> you're here to talk about christopher columbus or iphones. >> people use phrases like i crime or apple picking to describe the theft of apple device. theft has hit a high time. john miller is a former deputy commissioner and says police are worried even though it seems to be suddenly less of a problem. so, john, good morning. so, iphones, a lot of people have had their iphones stolen. is there anything different with the iphone 5? >> there is. what's alarming and shouldn't be. suddenly the thefts of iphones here in new york city and in other cities really have dipped. so what they are worried about
is after apple announced the release of the date for the new iphone 5, the redesigned iran phone 5, when the iphone theft slowed down across the country crime analysts believe with the new product on street they are going see a surge again. >> no one saw a thing. >> she was sitting with friends in a new york city restaurant when her iphone was swiped at the table by a patron. designee literally had only been there probably for 15, 20 minutes before he spotted my phone, checked to see if i wasn't looking, and it was five inches away from my elbows at the time and he just took it so fast and walked right out the door. >> in new york city the theft of iphones is driving up crime in the city. >> crime statistics is not up. if there were no thefts of apple products we would have a decrease. >> since the first iphone was released in 2007 new york city theft of apple products has
nearly tripled reaching 13,782 in just the first nine months of this year. >> just about every major city across the country has the same exact crime dynamic. those gadgets are valuable and help drive crime. >> here's what police are worried about. a week before the release of the bigger, better iphone 5, the thefts of iphones ground to a near halt and the analysts believe the thieves stopped stealing the old phones until they could start stealing the new iphone 5. >> the sales are very robust as far as iphone 5s are concerned. so, yeah, we have to anticipate that. >> across the country police are expecting a surge in theft. >> as a new product comes out that becomes the item du jour. >> even if the victims deactivate the phones the phones can be re-activated with a new
sim card. what could phone carriers do to make it stop? >> we've been asking this for years. that's to disconnect the phone. make it a useless piece of junk if it's stolen. >> why? after years of requests could the phone carriers be resisting the option of permanently disabling stolen phones because a stolen phone once reprogrammed generates a new number, a new bill and a new way for the phone company to make money. >> so this would make a significant difference because it just takes away the incentive to steal one of these phones. >> john, the chief made the case. why don't the phone companies do something about this? >> well, right now senator chuck schumer, the senator from new york has legislation that would make a national registry of the stolen numbers with the s.e.c. and then when you try to sign up a phone they would run the number, kind of like a license plate on a stolen car and say you can't sign up it's stolen. that's a process that will take
one year, maybe two, and it's still uncertain. what they are saying why don't we make the switch now. it boils down to according to people who have been in the negotiations the carriers say if i do it first and just by myself then the other phone companies will still be making this money that i'm out. so they are trying to get them all together. but essentially it seems to be over the money. now the carriers don't say that. the carriers say we don't want to get in between messy divorces between people switching other people's phones and frat boy disputes. but if this was costing them money they might find their way to a solution quicker. >> thank you, john. >> first presidential debates were held in 1960, 52 years later we now know what richard nixon thought of his performance. we'll hear a new revelation from his white house tapes. >> tomorrow, we'll talk with ben affleck about his new cia thriller "argo." >> very good.
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many political experts were surprised that during wednesday's debate president obama failed to mention mitt romney's infamous 47% comment. obama took the high road forgetting that road leads to building houses with jimmy carter. >> after the presidential debates were held in 1960 they did not have another one for 16 years. that was no accident. according to white house tapes that just had to come to light. >> the tapes showed president nixon talking about debates with his top advisers. bill plante is at the white house with this story. bill, good morning. >> reporter: good morning. you know barack obama was not the only candidate for president to have a bad debate experience. in that first debate between john ken dean nixon, nixon
despite his years in the senate and his time as vice president came off more poorly on tv than the less experienced kennedy and a new tape showed that poor performance lingered with nixon for years to come. >> would be difficult to cover it in 2 1/2 minutes. >> this is the debate that richard nixon couldn't live down. >> which party do we want to lead the united states. mr. nixon do you want to comment on that statement? >> have no comment. >> going head-to-head with john kennedy in 1960, nixoning looked uncomfortable compared to a relaxed kennedy. nixon lamented that performance in a candid conversation with his white house chief of staff. >> remember, even on the first debate. we made the mistake of not -- for that one. well, or -- we got prepared. worked like hell. >> but you didn't have time --
>> nixon never made that mistake again not when he ran in 1968. >> nixon didn't want to debate in '68 because he had the experience of 1960 behind him. >> not in 1972 when he was up senator george mcgovern challenged him to a debate. historian ken hughes from the university of virginia found these tapes of president nixon. in this never before heard recording nixon cites national security concerns as a reason for not debating. >> it wouldn't serve the interests of the country particularly at this time when very important negotiations are taking place involving matters of very great importance to the nation and which cannot be discussed, cannot and should not be discussed in a debate forum. >> reporter: at the time the vietnam war was at issue. and the president gives instructions for a statement from his campaign denying
mcgovern's debate request. >> what should we say? that the president that no incumbent president should debate his opponent. >> that's right. >> the differences between these two are so great. >> reporter: richard nixon can't resist saying if there were a debate he would win. >> nixon was a champion debater as far as he was concerned and completely destroy george mcgovern i think if given a chance. >> of course, having a debate wouldn't concern me a bit. >> no, you would clean him up. >> this guy doesn't have any flare at all. >> the only problem is then, i mean he automatically gets it. >> it would give him free time. >> don't want to give him that coverage on primetime. let him get his own primetime. >> reporter: don't you love how
zigler was the yes man? ford trailed jimmy carter, need ad boost, he agreed to a debate in 1976. 16 years after the first one. today no candidate can really avoid debating. charlie, norah? >> bill, i love president nixon saying let him get his own primetime. but did president nixon have a legitimate reason for denying those debates in 1972? >> reporter: no. this doesn't pass the laugh test. the national security argument was one that lyndon johnson used too because of the vietnam war going on but surely presidents since then have debated and known lots of national security secrets and haven't spilled them out there. the only thing that really makes since to a sitting president is he doesn't want to give his opponent equal footing and that's exactly what nixon was also saying. >> all right,
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now this is some way to end a race. nascar's tony stewart triggered this 25 car pileup on the final lap of sunday's race at talladega. matt kenseth made it through the cars and smoke and took the checkered flag and thank goodness no one was seriously purity. >> presidential debate had the biggest television audience for 25 years. there was a huge demand this weekend as bill o'reilly and jon stewart metaphor their rumble.
>> many viewers had trouble connecting to that live video stream. computer servers were overloaded. in case you missed it, stewart brought something along to overcome a nine inch height difference. >> 5'7" tall, mr. jon stewart. >> i've come here tonight to plead to the mayor of [ bleep ] mountain. >> we don't have any beef with private companies providing whatever they want. that's the free marketplace. but when you get a sandra fluke saying i'm entitled to my birth control paid for by the taxpayer that's insane. all right. [ applause ] >> why is fit you take advantage of a tax break and you're a corporation you're a smart businessman but if you take advantage of something that you need to not be hungry you're a
moocher. [ applause ] >> if the u.s. were burning what famous person would you save and why? >> i would save oprah, she's worth about $100 billion. who would you save? >> my family. [ laughter ] >> oprah is a great answer too. >> [ laughter ] . >> how is it two personalities as yourselves share a willingness to come together when congress can't? what advice would you give congress? [ applause ] >> wait, wait, wait. and what would you like for christmas miss little boy. [ laughter ] get out. >> so if he tries to sit in the president's lap.
>> they tried to play golf. >> all right. it was supposed to be happiest day of their lives but two couples got married saturday will remember this instead. look at this. this is the craziest story of the day. we'll show you the giant reception brawl caught on tape on cbs "this morning". i was living with this all-over pain. a deep, throbbing, persistent ache. my doctor diagnosed it as fibromyalgia, thought to be the result of overactive nerves that cause chronic widespread pain. lyrica is believed to calm these nerves. i learned lyrica can provide significant relief
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good morning, everybody. it is 8:00 a.m. welcome to cbs "this morning." a new poll says the presidential race is tied with mitt romney picking up support after the debate. plus two wedding receptions end up in one giant brawl. of course it was all caught on tape. but first here's a look at what's happening in the world and what we've been covering on cbs "this morning." next january we'll be watching him leave the white house for the last time. >> romney is sharpening his attacks on fortunate and today he'll call for changes in america's foreign policy. >> it appears he's continuing what he started in that debate. >> there's an opportunity for governor romney to look like a president, to look like a
leader. >> the former top security official for the u.s. ambassador to libya is testifying to congress this week. sharyl attkisson spoke with him on sunday. >> when you found out the last two teams were being pulled from libya, what was your feeling about that? >> i felt we were being asked to play the piano with two fingers. >> smartphone thefts have hit an all time high. >> police are worried although it's less of a problem. >> crime analysts believe with the new product on street they will see a surge again. >> bill o'reilly's audience is calling my audience on the phone figuring out how to download this thing. >> this is some way to end a race. nascar's tony stewart triggered this 25 car pileup. thank goodness no one was seriously hurt. >> romney went on the say if elected he would no longer borrow money from china to pay for pbs. that's why this week's "sesame
street" was brought to you by the letter this. >> i'm charlie rose with gayle king and norah o'donnell. the daily gallup poll tracking registered vote toers showing president obama and mitt romney tied. today as jan crawford reports romney will focus on foreign policy, he'll call for the united states to take a more forceful role in the middle east. >> reporter: governor romney will be giving a major foreign policy speech at the virginia military institute. he has tough words for the president suggesting his leadership on issues of foreign policy has bean failure, weak and passive and romney is calling for a new course, especially in the middle east. but before romney even takes this stage the president is out with a new ad, mocking his foreign trip over the summer and saying romney has already failed the commander-in-chief test. now on issues of foreign policy there's a new poll out this morning from george washington university and politico.
it gives the president the edge on foreign policy, 50% to romney's 44% but this poll and another poll from gallup this morning shows this race is a dead heat. politico and george washington poll gives romney the edge on issues like the economy, on jobs, on federal spending and the deficit and that poll was taken most of that poll was taken before last week's debate which widely is seen as going to mitt romney. now in california the president last night actually mocked his own debate performance. poked fun at himself. take a listen to this. >> everybody here is incredible professionals, such great friends and they just performed flawlessly, night after night. i can't always say the same. >> reporter: so the pressure is on the president important the next presidential debate which will be of course next week, but first the two number twos will go head-to-head thursday night in danville, kentucky. no one knows what to expect.
joe biden going at it with paul ryan. we haven't seen these two go head-to-head before. a lot going on this week with this prop speech. a lot of fundraisers out west with the president and then course the big debate on thursday night. for cbs "this morning" i'm jan crawford in lexington, virginia. >> california's governor is taking emergency steps to cut rising gas prices. but it will take a few days to show up at the pump. this morning the average price for unleaded regular gasoline is $4.67 a gallon. that's a record for california. aaa says the highest price in the state is $6.65 a gallon. yikes. governor jerry brown is allowing suppliers to bring cheaper blend of gas that's usually only sold in the winter. >> some apple orchards in new york are charging $8 a gallon f for cider.
>> if you're thinking you'll find the best holiday shopping deals on black friday think again. popular gifts are often cheaper throughout the year. research firm decide found the best online deal last year for an elmo plush toy was in march when it cost $11. if you waited until black friday that same elmo cost you $18. lowest price for a samsung flat screen tv was in july. on black friday it was more than twice. >> scary moment last night on the kw qvc home shopping center when kathleen suddenly stopped talking. >> you okay? okay. >> qvc has not explained what happened or released any information about her condition. >> very scary.
>> and two brides and a brawl. sounds like the title of a scary movie but this really happened in philadelphia over the weekend and a camera of course was rolling. terrell brown reports that fight ruined two weddings and may have led to one death. >> reporter: the all out brawl erupted just before 2:00 a.m. sunday morning at the sheraton society hills hotel in philadelphia. when police arrived they found nearly 100 people from two different wedding parties going at it. at one point officers used batons to pull two men off each other. one man gets tossed to the ground. in the middle of a melee a woman in a long dress can be seen falling to the floor. 15-year-old max schultz who was in town with his family captured the chaotic scene on his cell phone. >> it started punching each other and hitting each other and the police came in and started clubbing people.
>> reporter: several people were injured. one man believed to be the uncle of one of brides suffered a heart attack and died. in a statement the sheraton hotel said we continue to cooperate with authorities. our sincerest condolences go out to the families for their loss. they believe alcohol played a role. >> the sheraton couldn't do much. there were too many people that had too much to drink and it was bedlam. >> reporter: three people were taken into custody but authorities are reviewing the tape to see if more arrests need to be made. for cbs "this morning," terrell brown. >> something you never think to hear at a wedding, did they just deck the bride. two separate weddings got into it. >> authorities saying they think that alcohol may have been involved. >> you think? >> falls out the do you think?
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yes, the cameras were rolling. a new sport i learned about today. you were laughing at that young man getting hurt? we can laugh because he's okay. >> he is okay. >> the federal reserve says it will keep interest rates low for the next three years because of the low rates and the growing number of bank fees more people are using credit unions instead. jack otter is executive editor of cbs moneywatch with five things you should know about credit unions. let's start with your tie. when i was in the green room, lily otter picked out the tie. >> i was fishing this weekend. so appropriate. she got it for dad and it looks good on tv. >> my tie pops. lily picked it out. i thought credit unions had to be tied to your employment. >> you had to work for the company or be part of a government agency or aunt none.
it's broaden and you can join. pay a tiny fee. one is pennsted credit union. you can join. look these things up at smarterchoice.org, slightly biassed name there or culookup.com. >> why choose a credit union over a traditional larger bank. >> a lot of reasons. the main ones are costs. in terms much what they pay you, you can do better. on your savings account or cd you get higher rates. when it comes time for a mortgage or auto loan you pay less. i looked up last night on depositaccounts.com the ten highest paying cd in the country seven of the ten were credit unions. only three were banks. they are not fdic insured but insured by the national credit union administration which is the same as government backed up to $250,000.
people shouldn't worry about issue. it's a non-issue. because they are nonprofits they don't pay dividends to shareholders, you won't see credit union ceos flying around in corporate jets. >> should we be worried about finding an atm. >> that's a big problem. there is a network called the co-op network and you can go to co-op atm. it's a convenience issue. before joining check and see where the atms are. >> do you have to pay more? i hate going to a foreign atm and paying more to get my own money. >> yeah. in most cases they are lower fees than a traditional bank if you go out of network. in some cases it's surcharge free. it's worth investigating but they are not making a whole lot of known way so it does tend to be good. >> you can use any atm usually although you may be part of a smaller credit union.
>> only it's a member of the group. not all are. you have to say i'll join pennsted. there's their network of atms. >> there's over 90 million people members of credit union. was there a surge after the anger at big banks and what's happened with the economic situation a lot more people say i want to go local, i want to find something in my community and support that particular bank. >> just this weekend i was with a friend from vermont who joined for that reason to be local. only after he joined he found out wow i'm making more on my savings. i'm moving my mortgage over there and pay a lower rate. it's like or beganic food, buy your milk from the local dairy. banks are starting to get their backs up over there. in vermont banks went to the state regulators and said they can't call it banking. a judge said they can. credit unions are lending to small businesses, so they are
honing in on bank businesses. >> and investment products? >> i'm not a fan there. i like credit unions. what happens an investment firm will set up shop maybe in the credit union's offices, they will rent some space or something but it's not the credit union that's selling enthusiast. credit union can't sell you mutual funds. stay away from that if go to vanguard or find another low cost provider like fidelity or schwab. if you buy a mutual fund you'll get charged more. i don't recommend it. >> so finally if you want to become a member of a credit union where can you search for one? >> cu -- creditunionlookup.com or smarterchoice.org. >> we'll handout your phone number at the end of this segment. >> oil warn you, as positive as i am on credit unions they are not always perfect. a blogger of ours wrote a great
piece about a credit union that changed the terms on their cd. it wasn't in the fine print but on page 22. who reads that. you have to be careful. >> do they put their members first? that's what i've heard. >> the members are the owners. so that's the key difference. there are board meetings. you can join a credit union and nominate yourself for the board. you're involved in the process and owned by the members and so that's very different from being owned by the shareholders who obviously are as they should be making a dollar. >> there's a great book "worth it, not worth it" by jack otter. >> in that book i said they are worth it and i made some of these points. >> have a good time. >> thanks very much. >> with your kids today. we know there's a holiday. david rubenstein's father was a postal worker. now he's one of the top businessmen in the country. he's here to talk about the economy, the election and why is he giving away half of his $2
this is a new navy war ship, the uss michael murphy, commissioned this weekend in new york city. lieutenant murphy was a navy s.e.a.l. from long island, new york. he was killed in a fire fight in afghanistan. after his death he was awarded the medal of honor. >> this morning we'll meet a man who is busier at the age of 75 than most people half his age. >> he's a former dancer with inspiration to spare and he's on facebook and twitter. we'll speak with his long time
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r re of the side sry, visit shinesinfoom like sebody d set a ba of hot chaoal ony neck. i's somethg you ner wanto encounteochickenpx do you think you guys replacement officials as a group were placed in an untenable position from the beginning >> it was a very difficult situation. it wasn't like a win-win. it was a difficult situation. >> would you do it again? given all that's transpired? >> in a heart beat. >> why? >> because it was enjoyable and
it was exactly what we all liked to do as officials. we like to work the best game at the highest level. there's not an official out there that would say any different that they wouldn't want to have that opportunity. >> replacement official lance was involved in the most controversial call of the nfl lockout. he spoke with james brown on "the nfl today" show. >> and would do it again. >> i suspect all of them feels that way not with standing the controversy, they would do what they were passionate about doing. >> always a good thing. welcome to cbs "this morning." david rubenstein is co-founder of the carlyle group which owns more than 200 companies including mrs. fields cookies. and hertz rent a car. >> he may be better known for his work in charity. he's donated tens of millions of dollars to various causes and promising to giveaway half of his estimated $2 billion fortune. we're pleased to have him. you have signed on with gates and buffet.
what does that mean for you? >> melinda and bill gates and warren buffett came up with the idea of giving half of their money away before they die and encourage more philanthropy which is a good thing. >> you've given $4.5 million possible panda. what will happen to the panda? >> we were disappointed with the death of the baby panda. we hope that there will be another panda birth next year. pandas can only reproduce very limited periods of time. >> what is it about pandas for you, david? out of all the things you can be involved in, the fact you like pandas. >> i'm regent of smithsonian. my concern was to help get
people to come to the zoo more. the pandas are very popular. i thought the pandas are the most popular species on the face of the earth. 99% of the species on the earth is extinct. the most popular is the panda. >> aren't we hoping the chinese will give us another panda? >> we need two. if they can't reproduce maybe we'll get two more. >> what about private equity. that was a business that mitt romney was in as well at bain capital. >> that's correct. >> it's become a subject of critic jim from the obama campaign with respect to what he did and whether he created jobs or not. should bain capital be an issue in this cain? -- campaign? >> everything is subject to be criticized in a campaign. the private equity has helped revolutionize business around the world. private equity is designed to make companies more efficient. it has an effect of make being
jobs be created and that's not the principal purpose but very often we save jobs. one of the most important things is we make good returns that go to public pension funds. private equity has bean great thing for american business and the envy of the world. >> there's tissue of carried interest. >> that's correct. >> which puts you at a lower interest rate than some think you should be. taxed at a capital gains rate rather than ordinary income rate. do you think that's fair? >> in the context of comprehensive tax reform everything should be looked at. we have to recognize we have a $1 trillion annual deficit. unless we deal with ways of getting revenue and cut spending we'll be in a bad situation in our country for quite some time. carried interest shouldn't be singled out. everything shoulgd be looked at. >> due agree it should be taken out. everything should be looked at. but with respect to carried interest. >> carried interest won't solve the problem. we have a $1 trillion annual deficit. carried interest would carry
about one tenth of 1%. we should solve the deficit. >> it sounds like you say keep it. >> i'm saying look at everything but look at it in the context what it will kofl. our bigger is not carried interest it's the deficit and the $16 trillion of debt. that's a far greater problem. >> what would you do and what would you recommend whoever the next president do to solve the fiscal cliff crisis? >> first what i would recommend and again i was in government and i didn't solve all these problems so i'm not a person that has all the solutions but what i would recommend the next president of the united states do is get the members of congress together, take them to camp david, get rid of the cell phones and emails and everything and force them to get together and work for a couple of days to couple with a solution. right now we really don't get people together from both parties very frequently and the president has to be involved. i think the american people really want this problem solved and i think if we can get something done in the lame duck
session it would be helpful to the business community. the business community wants certainty. we want to know what the rules of the road will be. we don't have certainty of where the economy is going. if the fiscal cliff can be dealt with in the lame duck session you'll see more growth in the economy. >> i love your personal story, david rubenstein because here you are, your dad was a postal worker, never made more than $8,000. you said money was never on your radar screen. when and how did that change for you >> when i grew up money wasn't important. i was interested in other things. sports. i thought i would be a great professional baseball player but that didn't work out. i went to law school and wanted to work in service. i served in the white house under president carter. i went back and practiced law. i wasn't that great of a lawyer and not a great demand of service. i decided to do something different. i start ad company and it took off. so i did get fortunate to make more money than i probably can spend and therefore i'm committed to giving away the bulk of it. >> when you started your company
you were 38 years old. you were telling me in the green room that believes kids today, young people today should try many things before the age of 30 because before 30 you really don't know. very few mark zuckerberg. >> very few people know what they want to do in their 20s. people should find what they enjoy not what their parents want to do and you have to experiment. you should try many different things. i did many different things. i was in government, i practiced law. not until your mid-30s do you know what you want to do. >> gayle, he's like your son and like me, a duke graduate and has done a lot of wonderful things. >> he's on the cover of "forbes" magazine. >> he believes like me that duke will have a great team. >> absolutely. >> thank you, david. >> nice to see you. the government began the war on drugs more than 40 years ago. a new documentary argues it's bean massive failure. we'll hear from
♪ watching arrest after arrest i began to see for the first time the destructive impact of drug laws not only they target but those who enforce them as well. problem is that cop that made that cheap drug arrest he's going to get paid. he's going to get the hours of overtime for taking the drugs down to ecu. he's going to get paid for processing the prisoner down energy booking. he's going get paid for sitting back at his desk and writing the paper work for a couple of hours. he'll do that 40, 50, 60 times a month so his base pay might end up being half of what he's paid as a police officer. >> filmmaker eugene jarecki examines the high cost on the war of drugs. and his new documentary "the house i live in" won a prize at this year's sundance film festival. >> he argues the effort to control drug use in america has
ruined millions of lives over the past 40 years. you geena recognizy joins me now at the table. 40 years is a long time we've been fighting the war on drugs. your documentary was very powerful. the efforts to fight the drug war is as damaging as the people that use the drugs themselves. pdollars, 45 million drug illion arrests, we're the largest jailer with 2.3 million people in jail. what do we have to show for it? drawings are cheaper, more available and more in use. the trail is disaster before us it's indefensible and yet we keep doing it and remain committed to it until we start to rethink it. >> what do you think the solution is? >> the solution and we're seeing it in foreign countries, our western neighbors which has much more sensible drug policies than our own. portugal has decriminalized
drugs. they remain very vigilante. we don't do that in this country. we attack poor rather defenseless people. prisons are full of them. in new york we have 700,000 stops a year on streets of new york. 90% of those stopped are young black and latinos and half the time, 350,000 a year are stopped and frisked. in those cases only 10% lead to an arrest. the remaining 90% of those we stop and frisk we embarrass them in front of their community, we denigrate them, you had m humil. >> people say you need to be socially responsible and not break the law. what you say is you have to get past that. you need to think about what is causing the pain that the addicts are going through. i think you have to address the question about social responsibility. >> you do. we want young people to be socially responsible. it's hard when you're knee
capping them every chance you get. when they fail school, no health care, their parental structures have been broken up. a lot of young people being put away are people whose parents already got put away. under sentences, crack cocaine is 100 times penalized. one fair. we've had very selective rather bias ways of punishing people and then sort of a ricochet effect we see in young people. >> nancy reagan, of course, took on this issue as a first lady. but in this election season there's no discussion about it at all. >> historically ever since richard nixon coined the phrase of war on drugs and appeared to be tough on crime he wasn't. he spent two third of drug budget on treatment. we should think about how to treat people's pain. instead he went out on the campaign trail, i'll let it be known i'm tough. when he won a landslide in '72
politicians ever since have said it works to be tough on crime. so for years and years we heard politician after politician from both parties say oil be tough on crime but i want to hear when they will be smart on crime. i want to hear what they will do to solve the root causes why they feel people want to self-medicate and to pay for that addiction they get an underground economy job. >> one expert says the war on drugs is like saying the problem with pneumonia is the cause. >> i've met with judges, cops, they all believe the system that they are a part of is not working and they want us and the public to force our political leadership to change it, but the political leadership is still addicted to saying i'm the quick fix guy. mere more addicted to being tough on crime in this country than anybody is addicted to drugs. >> eugene jarecki, nice to see
you. very important points. >> the name of the documentary is called "the house i live in." lots of people work full time. they got facebook pages and twitter accounts. usually though they are not 75-year-old dancers. i just like looking at him on the dance floor. we'll find out how he continues to do what he does on cbs "this morning" right after the break.
♪ americans are living and working longer these days. some people have to work. but others are having too much fun to retire. michelle miller has the story of one senior citizen who still has a spring in his step. ♪ >> reporter: five days a week you can find finis jhung doing what he does best. teaching dance at alvin ailey. >> i love it. that's my job. i love ballet since i was 6 years old. and i still do. >> reporter: this sue. now at the age of 75, finis
jhung has been working at that love for more than 60 years. >> that's my first stage appearance at age 11. >> reporter: he performed professionally for a decade in the 1960s. >> you're higher than all of them. >> because i started later. >> reporter: but he stood behind-the-scenes as a teacher for the last 40 years. he even trains the stars of the hit "billy elliot." one of them still studies with him. >> go, go, go, go. >> reporter: while most people of his age have long since retired, finis jhung is moving ahead at full speed. >> these are all my studios. >> reporter: along with teaching, dancing fuels his two side gigs. he makes instructional dvds for dance teachers and produces work out stretching videos for the
elderly. for a guy who just passed the three quarter century mark, he's kept up remarkably well with the times. >> so you see here, i put up this comment yesterday. >> reporter: he has a facebook and twitter account. >> not every 75-year-old looks like you. they can't move like you. >> i don't have hair. >> one and to. >> reporter: finis jhung could be the face of the new senior as more of them work past the retirement age. back in 1985 less than 11% of americans age 65 and older were working. by last year the number had jumped to nearly 18%. >> i'm very happy in my teaching. i do enough dancing. i'm 75. i can't be jumping around like i used, to you know. and why should i? i don't need to. >> reporter: the common denominator in your success is change. >> definitely. and life is in a constant state
of change. will it change for better or worse? it's up to you. >> reporter: his students relish the master, his techniques serves professionals and beginners no matter what their age. >> it's definitely a way to age gracefully enough. why i'm here. >> go ahead, tell me. >> 72. >> reporter: did you ever think in a million years at 60 you would be able to pirouette with the best of them? >> that's my goal. >> my students are my inspiration. they can start to do these moves and look like ballet dancers. >> reporter: inspiring others is just one way finis jhung stays a step ahead. >> tell my people i only have 20 more years to teach.
i think at 94 i should stop. >> reporter: hard to imagine, he'll retire at any age. for cbs "this morning," michelle miller, new york. >> i'm thinking 70 is the new 30. that's what i'm thinking. >> i'm with you. >> seriously, 70 the new 30. >> that's great. it's fabulous, i think. >> the woman who is 72. i think there's something if you can still get out there and do it it changes your whole attitude. >> we know that's true. >> ballet for you soon, mr. rose >> pretty good. >> i think charlie preserves shaking his bootie. >> charlie you would do ballet? >> of course. >> i would pay to see that. >> that does it for us. won't see that today. up next your la cold news. we'll be back tomorrow right