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Sellers who had to cover shorts by buying stock because the sellers never materialized and there was furious buying instead as hedge funds came in to get me more action. Now i actually like short sellers. The shorts play a key role in the market. Short selling is a vital part. It exposes frauds and faults. They make money when companies falter or when shareholders capitulate to fear even if nothing is wrong. The shorts lose money when the expected and they have to buy back shares they have short...

Terrorism. John harwood will join us from the white house. Before we do that, lets get up to speed on this mornings other top stories. Michelle . Lets start with oil. Crude prices dropping after fridays opec meeting. As a result theres no agreement on output targets. In fact, the cartel didnt even mention a quota, something we havent seen in decades. Analysts say this is a message that opec or saudi arabia is willing to deal with low prices. You can see wti is back below 40 per barrel. U. S. Gas...

The herd was thundering today all right with the dow roaring 321 points, the s p pole vaulting 1. 66 and the nasdaq screaming higher 1. 65 n. The last 24 hours we have witnessed some of the greatest short gains i have seen as well as downright disastrous bets against companies that manage to produce herculeanly fabulous results. Today it did so in breathtaking fashion. Before the winners and the losers let me say unlike almost any other time i can recall its the action of the panicked short sell...

Shiri coming up from here, mississippi, coast today and tomorrow and we dont have the clouds like we do this morning, going to be rain, ice out there now, starting off tremendous in the 20s, boston at 28 , worcester 25 keene 23 and take the lower 20s any day over the teens, and we have actually got 20s with clearer skies over southeastern massachusetts and by 9 00 a. M. The clouds will be pretty stubborn today, 9 00 a. M. We get up to about 30 in boston, still in the 20s in the burbs with mostly...

She was questioned by the groups president , former congressman phil sharp. This is an hour. Ladies and gentlemen, welcome to resources for the future to hear epa administrator gina mccarthy. And since she has wonderfully attracted a much larger audience for rff, im going to indulge a couple of moments about who we are and what were up to, if you dont mind, or whether you mind or not. Let me just quickly say i think many people realize that we are an organization that strives to achieve highqual...

Developing countries respond to that at the summit . I know you met with people on the side. Yeah. There are a lot of things that i saw being discussed that relate to the president s plan. We had and most of the meetings i went to were with industry, so it was really fun. Large industries as well as small. We talked about the 111d proposal and the broad context about its sort of gamechanging nature, that its a really strong signal for the u. S. The president s presence there was clearly another ...

Greet its announcement with a measure of skepticism. Well, we know the congress has never voted explicitly to regulate co2. And would not vote today if given the opportunity. But through old statutes and interpretation of it, you know as an unelected official are impacting the economy in extraordinary ways. And i just think we ought not to forget that. Co2 emission targets for alabama are a reduction of 27 , but states like arkansas and georgia with 44 reductions are really hammered even harder....

Tracking it all hour long. From renting a bmw for two weeks to lavish meals and hundreds of dollars spent on wine. The city audit in san jose shows that some employees are using city credit cards for questionable purchases. So exactly which employees are living the high life on your dime . Damian trujillo is live at city hall where he went looking for some of those names. Reporter what we found is there are some people noted inside this audit who work here and city hall, including the mayor. The...

Varney and company is about to begin we start earlier and we stay with you much longer. Watch out. Well look here. Never mind the global crisis. Stocks still at near or approach record levels. 18,319. More on that in a second. Take a look at exit. That is the website that sells hand crafts, knickknacks by any other name, it lost money. Down it goes 22 . Look at lowes. Profits disappoint, sales in the Building Materials market and its down 4 . The stock with the rather exotic strange name, pep bo...

Achieve the interests of local income local low income and minority communities. In cases where states may not be sure how to conduct Environmental Justice analysis or how to define an Environmental Justice community then i believe it would be helpful if the epa provided states with guidance and resources to help protect their most vulnerable communities which we all know have the least amount of influence to help themselves. Can you speak to this issue and assure me that one, epa is listening a...