Skip to main content

tv   CNN Newsroom  CNN  July 3, 2012 12:00pm-1:00pm PDT

12:00 pm
surprise. it's not been proven that he made illegal financing campaign. we'll see. >> this is going on five years. this is all in reference to the 2007 election. it sounds like a long time ago to be making a raid today. have police or officials said anything about what they may or may not have found? >> to our knowledge they have not found anything. lawyers said all actions is very futile. at the same time what sar kkozy have been reproached with. at the same time it would prove he had p it.
12:01 pm
it has been given to the lawyers. spending all their time with this to witness. i don't think he left for canada saying i will be in trouble. i think he left. it was planned a long time ago. i don't think sarkozy is going to show he's in trouble. >> well, we do appreciate that. it came as a bit of a surprise to us and probably to the former french president as well. thank you for being with us. >> thank you. top of the hour now. i'm ashleigh banfield. first, we got this news. he was the ultimate tv good guy. andy griffith, the small town
12:02 pm
sheriff who was a big favorite to viewers. take a look. >> right here on the floor. >> i told you. i said i just wanted. >> starring with don knotts back in the '60s. griffith died today at the age of 86. americans everywhere are grieving the loss including at the white house. president obama said in a statement. michelle and i were saddened to hear about the passing of andy griffith this morning. the love by generations of forms and revered by entertainers who followed in his footsteps. he brought us characters from sheriff andy taylor to ben matlock and warmed the hearts of americans everywhere. our thoughts and prayers are with andy's family.
12:03 pm
larry king talked to me earlier about the actor and remember him real fond lly too. have a listen. >> he was a wonderful guest because he answered the question you asked and responded in kind. he did major movies. he did one of the funniest comedy albums made. >> larry king speaking to me in the last hour. barbara eden, a television woman appeared on one of my favorite shows. can you hear me? >> i can hear you, yes. >> thank you for speaking with me. i'm sorry for the loss of your friend, and truly he was your
12:04 pm
friend, not just a colleague and co-star, wasn't he? >> he was. i feel awful about his loss. he was a wonderful, wonderful man. it created an aura of reality on the set. sometimes you didn't know if you were having a discussion with him other doing the line. >> that's a good thing. >> it was wonderful. >> tell me a little bit about this golden age of television that he was the standard there for american family values.
12:05 pm
>> it wasn't dull and it wasn't super official. it was real. that's why it's still on today. when i toured in a neil simon play, andy came to see us in west virginia. there he was. >> just personally to you, i'm a huge fan. i used to dress up. for hall heen when i was a kid. i appreciate your thoughts. thank you for being with us. >> my pleasure. >> what a pleasure.
12:06 pm
>> do we know at this point what it was that caused his death? >> we don't know. his family released a short statement saying he passed away at his home. he do know that he was plagued by health problems be last several years undergoing a quadruple bypass. he spent the last few years in his native carolina home going back to his roots. that's one thing the governor mentioned in a statement he released a short time ago saying he never forgot his roots and great he put the state on the map and done so much for people over the years.
12:07 pm
i looked back online and watched the re-runs as a child, as we all did growing up watching this talented performer. some of my favorite scenes involved the late don knotts. you found them both so relatable. barbara just mentioned that with you. america fell in love with him and saw beyond this character on the big screen. hopefully that's how he will be remembered. >> i was a 1-year-old baby when that show went off the air in '68. i feel a feeling it was the fabric of my home. that song is part of my dna. thanks. nice to see you. >> you too. coming up, one of the world's largest banks trying to diffuse a scandal.
12:08 pm
three to executives out the door in just the last two days. who best to get us the skinny on this, richard quest, coming up next. home of the brave. ♪ it's where fear goes unwelcomed... ♪ and certain men... find a way to rise above. this is the land of giants. ♪ guts. glory. ram. [ male announcer ] ok, so you're no marathon man. but thanks to the htc one x from at&t, with its built in beats audio,
12:09 pm
every note sounds amazingly clear. ...making it easy to get lost in the music... and, well... rio vista?!! [ male announcer ] ...lost. introducing the musically enhanced htc one x from at&t. rethink possible.
12:10 pm
i tell mike what i can spend. i do my best to make that work. we're driving safely. and sue saved money on brakes. now that's personal pricing. if you thought the banking scandal or any of the banking scandals that you hear about were winding down, think again. we have some disturbing news. bob diamond resigned abruptly today. why does that matter to you at the british bank? he agreed to pay one whopper of a fine. they admitted to manipulating
12:11 pm
interest rates. what the what the? he's the third executive to fall in this scandal. he tossed out little hints like if he's going down, he plans to take others with him. richard quest is our money guy. here is what i'd like you to explain for me. this whole issue has to do with a key interest rate called the libor. that's a rate that is set by an informal poll of the banks as to what they think they can get money for and barclays wasn't being truthful about its numbers. why did that matter to me or anything else all around the world? how could that have such an impact? >> it's an excellent description of libor. why it matters because the rest of the banking world, the
12:12 pm
consumer credit organizations, your car loans, in some cases sub prime mortgages, they take that interest rate and add on the percentage. you now how we used to talk about prime rate plus or whatever in the u.s. you can take libor as being that's the rate and your car loan is libor plus two. if this was just barclays fiddling the numbers, it would be serious but not systemic. we're waiting for regulators in the u.s. and over here to basically blow the whistle and say who else was involved. one thing to note. this all happened in the era of
12:13 pm
irresponsibility before the financial crisis. >> big surprise. let me throw a couple of names out at you and we'll play a word game. bank of scotland, ubs, and citigroup. are these guys in trouble? are these banks in trouble because of -- >> la, la, la. can't hear you. what are you saying? >> it's a word game. it's not an acting game. >> of course. >> can we see a lot of these top hunchos walking out the door? >> it depends. when he says i'm taking down others too, he's talking about government regulators, the bank of england, the people who may have given a nod and a wink.
12:14 pm
let's give barclays some credit. they were first out the gate. they have spent $100 million investigating this. they have paid a fine. we know that other banks are being investigated. we can assume that other banks have had their own investigat n investigation, but we do not have one other bank that's said me too. >> the story definitely continues. just by the acting skills alone, you're booked back on the show any old time. thanks. nice to see you. back here in the united states, another money issue. a lot of people worried about protecting their families financially after they die. life insurance, can help out. you really do need to know what you're looking for. here is poppy harlow >> we're talking about life
12:15 pm
insurance. carmen, take a listen to this question. >> i'm a mother, and i also have a job. i have a question regarding life insurance. what's the best route for me? >> it can be expensive if she's not getting it through work. what's your take? >> she's got to go through a term. you pay a monthly rate and should you pass away within a term period of time, a term, that money comes to you. even if you're a stay at home parent, it's important to realize that someone, should you go, is going to have to pay for the services that you give your family. even you need term insurance. it's important to keep the term policy even if you go to an employer who offers life insurance because with this job market, once you get let go, that insurance will go away. as you get older it's important to keep your own policies. >> i want to make this point. predatory insurance practices are more common that predatory lending practices.
12:16 pm
predatory insurance, you'd be amazed with people with two and three term policies. it's not about affordability but it's also about need. >> how do you vet the policy? >> are they a rated policies? can you go to websites? when you're going into that office with the right amount of information, so you know i'm only going to need 250,000. if they're trying to sell you $2 million, you can walk away. >> if you have a question you want our financial experts to tackle, upload a 30-second video. thank you for that. fighting wildfires. this is one heck of a dangerous job, but nothing as dangerous as this part of fighting. see the uniforms. they just jump out of those planes. smoke jumpers jumping into wildfires. have i got a story for you. people with a machine.
12:17 pm
what ? customers didn't like it. so why do banks do it ? hello ? hello ?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello ? ally bank. no nonsense. just people sense.
12:18 pm
12:19 pm
we finally got some good news for you along the colorado wildfire lines where the firefighters are really starting to get an upper hand, finally especially in that waldo canyon fire. see that picture, the c-130 military plane that helps to fight the fire.
12:20 pm
this has been a crucial tool. they are back in action today after being temporarily grounded because one of the fleet crashed fighting a fire in south dakota killing four crew members. that brought the fleet down for more assessments on the danger of flying them. so much of containment of these out of control fires can be credited to the men and women who are in blistering heat working the front lines and some of those people literally jump out of airplanes right into the fires below. yes. we see what a day in the life is like for a smoke jumper. >> reporter: in the entire usa, there are only 430 of them. they are among the fire fighting elite. they are the smoke jumpers. many of them are in colorado right now marching onto aircraft which is their transportation to the action. their job, the fly into the fires just as new ones are starting up and stop them from getting bigger. this is video the smoke jumpers
12:21 pm
just brought back. it's hard to spot the flames from up here at 1500 feet, but they are trained to see them. it's all clear when on the ground. nowhere near any roads and sometimes a distance from civilization. if they don't get to the flames quickly, the blaze will spread rapidly. >> you talk to people you know who aren't close family and you tell them what you do, what do they say? >> they think i should get my head examined. >> reporter: part of the reason for that is because of how they get to the fires. fire fighting is not an occupation for the timid especially in this. they don't just fight fires, they sky dive into deadly wilderness. we were invited to watch them train in this canyon near grand junction, colorado. after the land, their equipment is attached to its own
12:22 pm
parachute. >> inside is our hand tools that we use for fighting fires. >> reporter: the smoke jumpers who all work for the u.s. departments of agriculture and interior have mres and sleeping bags because they may be in the wilderness for 48 hours. >> usually ways between 100 and 120 pounds, and we'll hike out. >> reporter: there's many ways to get hurt including lightning and bad landings. phillip was once hurt. >> a tree branch punctured me. the personnel i was with was a trained paramedic. >> reporter: they put out the fires by clearing fields with their equipment and digging fire lines and building backfires to stop the wildfires in their tracks. they have to get along with each other because their lives depend
12:23 pm
on it. >> are there times when you're fearful? >> almost certainly. courage is not the absence of fear but the makingf actionin spite of it. >> reporter: there's been no sortage of action this fire season. >> man. those guys are amazing. thanks for bringing us that story. it's day four without power for millions of americans. i don't need to tell you that the temperatures are hot and grueling. it's going to stick around for a couple more days. the death toll has ridden to 20. from indiana to delaware, 1 hadn't 4 million households are without power. some of the hardest hit storm areas, the patience is running short. the power companies are trying to fully restore power. they say it could be saturday before lights are back on. air-conditioning is back on and even fans. they can't charge their phones.
12:24 pm
think about all the things you take for granted. in wisconsin, watch the video. extreme heat called a dangerous situation. look at that. airborne suv. that's a highway just buckling in the heat. it's unbelievable. the suv had no idea. that was coming. it did swerve. a highway just buckling in the severe heat of wisconsin. day by day the death toll inside syria climbing. you've heard it before and seen violent video but now an official report, a credible report. a report of honest evidence of torture and just how bad it is. let me say this, you think you've heard bad. you ain't heard nothing yet. the postal service is critical to our economy,
12:25 pm
delivering mail, medicine and packages. yet the house is considering a bill to close thousands of offices, slash service and layoff over 100,000 workers. the postal service is recording financial losses, but not for reasons you might think. the problem ? a burden no other agency or company bears. a 2006 law that drains $5 billion a year from post office revenue while the postal service is forced to overpay billions more into federal accounts. house bill 2309 is not the answer. ♪
12:26 pm
♪ ♪ [ male announcer ] what's the point of an epa estimated 42 miles per gallon if the miles aren't interesting? the lexus ct hybrid. this is the pursuit of perfection. just $14.99. start with soup, salad and cheddar bay biscuits then choose one of 7 entrees plus dessert! four perfect courses, just $14.99. come into red lobster and sea food differently. four perfect courses, just $14.99. ♪ hello...rings ♪ what the... what the... what the... ♪ ♪ are you seein' this? ♪ uh-huh... uh-huh... uh-huh... ♪ ♪ it kinda makes me miss the days when we ♪ ♪ used to rock the microphone ♪ back when our credit score couldn't get us a micro-loan ♪ ♪ so light it up! ♪ even better than we did before ♪ ♪ yeah prep yourself america we're back for more ♪ ♪ our look is slacker chic and our sound is hardcore ♪ ♪ and we're here to drop a rhyme about free-credit-score ♪
12:27 pm
♪ i'm singing free-credit-score-dot-com ♪ ♪ dot-com narrator: offer applies with enrollment in aelleges of torture in syri has come to us this dribs and drabs. this video was shot in the past week. the man on your screen says marks were delivered by blows pr the hand of his government. now a respected human rights organization has nailed down the details right down to the name of the torture facilities, the names of torturers, the name of the people giving orders to torture. it's human rights watch, and it says that's the systematic. it says it's got hard evidence,
12:28 pm
witnesses, the whole lot. it has long beatings with object such a batons. the use of electricity, burning with acid, sexual assault and humiliation. jim, it's not like we haven't had reports of torture before, all over the world, and certainly in syria as this now yearlong plus campaign has been waged. it sounds like the level of torture has reached a new level of depravity. >> it's depravity, but it's a planned one. this regime has been telling people since that outset that they are in a war against terrorists. this report puts pay to all of that. it details how the torture is similar.
12:29 pm
the insurances it's systemic. it's way to repress their population. a population that wants change from the top. they are beating people to do that. they are recessing them. calling on the international criminal court to take this data and use it. this isn't just a story about cases of torture. this is evidence in trials that could be upcoming. someone, somewhere has to be held accountable. >> that's where i wanted to go next with you. as i read through this report, it looked like a police investigation of violence and murder in the united states where you compile hard evidence, get witness, take their
12:30 pm
statements. this looks like it's a preparation of hard evidence for an international case like you mentioned. is there a risk for serious exposure for not only assad, but the rest of his administration. people say it's a name and shame report. this is more than that. it's a name and sweat report because it's putting these people on notice. we have evidence against you. we have multiple witnesses in most cases who will testify against you. they've already testified it's in this report. there was a lot of talk about the victims but not so much about the perp traitetrators.
12:31 pm
there's no doubt, as i read this report, that there's some horrific acts that are documented here. the question i can't answer is whether it will make a difference and whether it will deter people. >> just quickly, every time there's a claim made against his administration of violence, of terror, wholesale bombing, he says these are terrorists. i'm fighting terrorists. people are calling this a lifl war. he says the same things are happening. is he at risk of any kind of arrest? is there any way to face justice unless he's pulled kicking and screaming away from his castle.
12:32 pm
the possibility is always there. this report, this kind of data, this really gives us the information to say that this alternate reality the trying to sell the world. this alternate reality of terror groups fighting against the government, al qaeda involved in all of these things. it's all fabrication. >> makes you wonder if the criminal court wouldn't mind another conviction. good to see you. new york taxi drivers have a new mission. they are set to become the newest soldiers in the front
12:33 pm
lines. very strange connection. sex trafficking in traffic. we'll explain how they feel about all of this.
12:34 pm
12:35 pm
cab drivers in new york city are being asked to do something they're not used to do, look out for sex trafficking. where? this their bone backseats. not kidding. >> where would you like to go?
12:36 pm
>> 20th between 5th and 6th. >> reporter: miking is a new york cab driver. soon michael and all yellow taxi and private car services will be told where to go. a training course on how to spot sex trafficking in their vehicles. >> we want drivers to look for the kind of things that are a lot of children hanging around a particular drivers. are there people who don't speak and seem incredibly anxious? >> reporter: they feel their unfairly targeted and the effectiveness of one class. >> i think 90% of the cab drivers, although they may watch the video, i don't think they would take action or do anything. >> reporter: sex trafficking by taxi is rare. >> it's a big problem. not only here in new york city and around new york state but
12:37 pm
around the world. we're seeing drivers as an integral part of the sex trafficking industry. >> reporter: the new law is supposed to place more eyes on the problem. >> you may begin your testimony. >> reporter: a sex trafficking victim testified. she spoke through an activist. >> for one week at a time the driver would pick me up and take me from location to location based upon the schedule he set up for the men who were buying sex. >> i think it's an important issue but one that will be incredibly difficult to enforce. >> i can't understand how they will enforce it. they don't even enforce the honking law, which is a lot easier. people honk like crazy. >> reporter: the new sex trafficking laws are tougher. >> if you don't want to lose your license, if you don't want a $10,000 fine, don't participate in sex trafficking. it's crystal clear. >> richard is here with me now live. when i first heard about this, i
12:38 pm
was perplexed by it. i never thought of new york city taxicabs as an integral part of sex trafficking. is it as a big of a deal as they say it is? >> they're saying new york is a major growing hub. we have a lot of airports and people from all over the world. there's been arrest for one rings with black delivery car drivers that were involved. they want to increase the number of eyes on it. it did lead to concerns about what kind of passenger is the driver looking at. >> there were all these scantily clad women on city hall saying you can't have a law like this, you're going to target me when i come home from the nightclub. >> they didn't want the sex workers who may have involved in prostitution. they didn't want them targeted.
12:39 pm
they didn't want women who may be wearing sporty clothing. they want the real deal here. they made sure the language did not include any reference to if you see a woman who looks like she might be involved in anything, report it. that's not supposed to happen. there were headlines that said c cabbies can't pick up hookers. >> they are showing them what to look for. >> reporter: someone who looks scared. an older person in the car. someone who looks frightened. >> that's a heavy burden. >> while you're trying to keep an eye on the road and many cab drivers speak different languages. >> that's a tough road. thank you for that. appreciate it. great report out there too. still coming up, a south
12:40 pm
carolina woman convicted of drunk driving gets a very, very strange sentence. ready for this? read the bible and write me a book report. this is no joke. guess what. it's legal. we'll explain, next. ttd#: 1-800-345-2550 you get at some places. ttd#: 1-800-345-2550 they say you have to do this, have that, invest here ttd#: 1-800-345-2550 ttd#: 1-800-345-2550 you know what? ttd#: 1-800-345-2550 you can't create a retirement plan based on ttd#: 1-800-345-2550 a predetermined script. ttd#: 1-800-345-2550 to understand you and your goals... ttd#: 1-800-345-2550 together we can find real-life answers for your ttd#: 1-800-345-2550 real-life retirement. ttd#: 1-800-345-2550 talk to chuck ttd#: 1-800-345-2550 and let's write a script based on your life story. ttd#: 1-800-345-2550
12:41 pm
i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness, and stop joint damage. because enbrel, etanercept, suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal events including infections, tuberculosis, lymphoma, other cancers, and nervous system and blood disorders have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal infections are common. don't start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b, have been treated for heart failure, or if, while on enbrel, you experience persistent fever, bruising, bleeding, or paleness. [ phil ] get back to the things that matter most. ask your rheumatologist if enbrel is right for you. [ doctor ] enbrel, the number one biolog medicine prescribed by rheumatologists.
12:42 pm
[ doctor ] enbrel, the number one biolog medicine you know what's exciting? graduation. when i look up into my students faces, i see pride. you know, i have done something worthwhile. when i earned my doctorate through university of phoenix, that pride, that was on my face. i am jocelyn taylor. i'm committed to making a difference in people's lives, and i am a phoenix. visit to find the program that's right for you. enroll now. okay. you're going to like this one. convicted drunk driver in south
12:43 pm
carolina gets eight years in prison, five years probation, and a reading assignment. this a report from the newspaper saying this woman has to read the old testament and has to write a summary as part of her sentence. what you say? separation of church and state. let's get to the crime first. she had a blood alcohol level of .33 when she drove the wrong way down the road in november last year. she severely injured to people in the ensuing crash. defense attorney joey jackson is on the case. first thing i thought was ain't no way this is going to stick. ain't no how, and it will. >> it will. >> why? >> she consented to it. she said you're being reasonable. what can the judge have done. judge could have said you're going to spend double that time in jail. the judge said we can work this
12:44 pm
out. people need religion in their lives. i want you to read the old testament, the book of job. you're going to spend eight years in jail, which is a tempered sentence this takes into effect the victims as well as the defendant. >> i don't know you're an attorney, but you also have to be a biblical scholar. why book of job? >> it's about the righteousness and why do the righteous suffer. here is job and he has everything in the universe. he's got seven daughters and three son. he owns the world. it's burned and taken away from him. he would wimper, but he stands tall. it's a great book. >> clearly. better than shades of grey. >> from what i hear, it couldn't be better than that. >> you know what i'm saying.
12:45 pm
is this recommended from prosecutors in concert with defense attorneys? >> generally speaking, what a sentence is is imposed by statues. it's a maximum of this in jail. 15 years or give a minimum of five years or do the drinking driving program. the statutory sentences are pretty much imposed. because she consented, it's a nonissue. if there was any opposition to this, of course a judge would have no authority to force someone to read the bible without their consent and wanting to do it. >> i should mention, as we laughed through the unusual aspect of this sentence. there's more to this story. we love to hate people who drink and drive and these two victims were badly injured. one of them had a terrible surgery. rods into the spine. can't sit. they're bad injuries.
12:46 pm
this woman also is damaged goods. she was terribly abused as a child. >> so true. >> that comes into this, doesn't it? >> it does. when she was 11, she was doused with gasoline and set on fire. she still has scars. she was suffering from alcohol. part of the who process is to attempt to rehabilitate and work with the defendant. this judge did this that. >> it got us talking. it's a fascinating case. for anybody out there curious, if you say that's not going to be my sentence. >> that's why we swear or affirm in court. we swear or affirm to tell the truth because we don't necessarily have to be religious when we testify. >> that's right. good to see you. come back again. >> would love to. >> like my brother because my brother's name is joey so we
12:47 pm
have a special connection. >> nice. it's being called mommy porn. you heard me mention it before, the 50 shades of grey. it's making waves and making more than that. it's making big bucks. now there are hotels trying to cash in on this. are you kidding me? i'm not kidding you. wait until you hear about the real life experiences they are offering. matters. pioneers in outsourcing us jobs supports tax breaks overseas. insourcing. industry and favors bring jobs home. it matters. this message.
12:48 pm
12:49 pm
12:50 pm
half men, half arachnid and 100 percent smart allec. >> small knives. >> say hello to our little friend, the new "amazing spider-man." the movie trending hitting theaters today. a new twist on the old hero stars andrew garfield as the wall-crawling web-slinger. emma stone. my kids are going off the rails about this. so you know the popular "50 shades of grey" book? come on, admit it, you do. it's pretty racy. guess what? you could soon get the "50 shades of grey" experience i do declare at a hotel near you. here's our alison kosik. >> hi, ashley, first harry
12:51 pm
potter then "twilight." now the "50 shades of grey" frenzy is sweeping the nation. but this craze is not for kids. hotels across the country are starting to offer packages based on the massively popular and scandalous book by e.l. james. personality hotel says it's calling all women to take charge and be the driver's seat offering 50 shades of women package at three of its locations. and for $369 the package includes deluxe accommodations, black satin scarf. we can safely say the feathers are not for dusting. at the hotel max in seattle, you can get a 50 shades of seattle package starting at $1,669. that includes chauffeured town car service, a helicopter tour of the city and a sailing excursion among other indulgences of course. and at portland's heathman hotel, it depends on if you're traveling with a budget. the inner goddess addition
12:52 pm
includes $40 and a bottle of wine. if you're willing to shell out more, you get appetizers and wine for six people, limo transfers and another helicopter ride. it's no surprise these hotels are trying to cash-in. all three of the 50 shades books sit at the tom of the "new york times" fiction best-seller list and have been on that list for four months. >> thanks, alison kosik. i thought you were going to say they offered handcuffs as part of the package too. but i guess not. the olympic medals arrived in london. that happened today. i have a question for you, guess how much gold, silver and bronze is actually in a gold, silver and bronze medal. i'll give you the break to think about it. back in a moment. great shot. how did the nba become the hottest league on the planet? by building on the cisco intelligent network they're able to serve up live video, and instant replays,
12:53 pm
creating fans from berlin to beijing. what can we help you build? nice shot kid. the nba around the world built by the only company that could. cisco. at liberty mutual, we know how much you count on your car, and how much the people in your life count on you. that's why we offer accident forgiveness, where your price won't increase due to your first accident.
12:54 pm
we also offer a hassle-free lifetime repair guarantee, where the repairs made on your car are guaranteed for life, or they're on us. these are just two of the valuable features you can expect from liberty mutual. plus, when you insure both your home and car with us, it could save you time and money. at liberty mutual, we help you move on with your life, so get the insurance responsible drivers like you deserve. call us at... or visit your local liberty mutual office, where an agent can help you find the policy that's right for you. liberty mutual insurance, responsibility -- what's your policy?
12:55 pm
we are just a couple minutes away now from the top of the hour, which would indicate that wolf blitzer is standing by live in "the situation room." there you are, my friend. what have you got going? >> we have a lot going on. in the 4:00 p.m. eastern hour near the top of the hour it's pretty shocking to me, the united states is still shelling out, get this, about a billion dollars a year in economic and military aid to iraq even though the iraqis have a $50 billion budget surplus. they are one of the major oil exporting countries in the world right now. they're rolling in cash. and u.s. taxpayers are still shelling out all that money to build some infrastructure, military aid, economic aid, to
12:56 pm
iraq. what's going on? one congressman from utah, the republican chair of a key house subcommittee, he's outraged by this. he's going to be joining us in the next hour. we're talking about that. we'll also get some analysis from mary matalin and paul begala. the chairman has a lot to talk about as well. we have a lot coming up. don't forget, a new 6:00 p.m. eastern third hour of "the situation room." we have an excellent round table in that hour. a lot of news, a lot of important stuff coming up. >> i remember someone once called you the energizer bunny of television news. and that's the reason. you are the hardest working man i know. thank you, wolf. look forward to it. >> keep going and going and going. >> you do. it's good stuff. >> you're working hard too. i see you in the morning, in the afternoon. >> eh. got big shoes to fill when it comes to you as my partner. okay. so the summer olympics just a few weeks away. london's gearing up to get the medals ready for the thousands of athletes showing up.
12:57 pm
and they are the biggest and most expensive medals ever. beautiful. so how much gold is actually in the gold? it turns out not so much. and wait until you hear what the bronze is really made of. here's jim bolden. >> reporter: the royal mint may be owned by the british government, but that was no guarantee it would win the contract to make the 4,700 medals to be presented at the london olympic and paraolympic games. the mint says it beat out more than two dozen other contenders. to make sure the medals have a real british connection. >> this wasn't about making money. we make quite a decent range of commemorative coins and products for the olympic games. that's where we'll make money. >> reporter: so no profit from these medals, but the pride here
12:58 pm
is palatable. >> what did you think when you won the contract for the medals? >> absolutely ecstatic. i think we all were. it was really nicer environment, nicer people get jobs doing this as well. >> reporter: and they'll be ready in plenty of time no doubt. >> yes. yes. we've done olympics. >> reporter: on this day, the medals for track and field or athletics were being etched. the royal mint says its engraver is the only person who will touch every single london medal. >> it's nice. quite nice. >> reporter: before the etching, the medals have to be formed and dipped in sulfuric acid. there's a vat for the bronze medals and another for the silver ones. but none for gold because they aren't really gold. they're the same as the silver
12:59 pm
ones with just 6 grams of gold mixed in. to put anymore in there would make it far too expensive. later in the process it will be gold plated. but in truth, it is a silver medal made to look like gold. and a bronze medal is of course mostly copper and tin, which is mined by riotinto in mongol ya. >> it's a set of circumstances to get the medals here and made in time. you can't be late. the athletes aren't going to stand there and wait. >> reporter: and these london medals are very big. >> we effectively went to the biggest one. >> reporter: compare them to the ones presented in athens in 2004. jim bolden, cnn, whales. >> no matter how precious they are, everybody wants one. it is time now for