jury's hand. what they tell us about the deliberations. we begin this evening with what you might call the facebook hangover. after the hype and buildup after the initial offering of stock, trading started late, price didn't sky rock and facebook closed essentially flat, just $0.23 higher than the opening. at least facebook was up. dow industrials, nasdaq, s&p 500 closed out their worst week of the year. discuss with business correspondent ali velshi. let's start with facebook. what happened? >> generally you set a price for a stock, $38 in this case that is posed to create enough demand the stock goes up. early stage investors get to sell that stock. they are happy, investors are happy. they get the stock at a good price, we all live happily ever affiliated. as you cy, trading late. seemed to be technical problem at the nasdaq. more than 500 million shares traded by the end of the day. just to give you perspective, on a normal day microsoft will trade 50 million shares, apple will trade 25 million. this is almost 600 million shares. a logjam. everything didn't work out properly. the stock ended up going down almost to where it started, $38. the only reason it didn't go further, john, the syndicate of investment banks that offered the stock on behalf of the company, that would look really bad for them. they need future business. you never want the ipo going below the offer price. you know they were buying late in the day to prop up the stock. if this wasn't an ipo day it would have gone lower. >> is this some sort of symptom or sign about the broader market now? >> i think it's a few things. as you mentioned, this the worst week for markets in 2012. never an ideal time to have an ipo. that's not something facebook could have controlled. i think there's a great deal of scrutiny about facebook. we've been covering it endlessly. that caused people who were excited to get into the stock to take some time and say maybe i don't have to rush into this thing. let's see how it goes, let's see if the stock can make money. now it's a wait and see. if it doesn't skyrocket on day one, why rush to get in. i can still invest to get in next week or next month. i don't take this as overwhelming backlash about facebook. i would say if you were an ipo, this is not how you would want your first day to go. >> our chief business correspondent ali velshi. ali, thanks. he's following facebook since it burst on the scene, wrote a book about it, "the facebook effect." mark zuckerberg is supposed to be the golden kid with the midas touch. does it matter they didn't have a great first day? >> i'm afraid it does matter. certainly this was a huge disappointment. the company still made tons of money out of the offering, the fundamental purpose. created a liquid market for employees and investors. those were also major goals. as ali said, no question this was intended to go up more than it did. it really raises the question did the stock price too high, did they issue too many shares. they added a bunch of shares to the offering late in the game from existing shareholders. maybe they shouldn't have done that. also we don't know how much nasdaq glitches caused additional problems and maybe contributed to the disappointment for facebook. but it really makes you wonder, you know, is facebook going to have trouble operating as a public company with this extraordinary valuation which is nose bleed level. >> from financial standpoint, top ten web ipos over the years only google an obvious smashing success. if you're facebook you thought you had a gold standard like google. this has to make you a little nervous, right? >> yeah, certainly outshown google in terms of the size of the offering and valuation at the ipo. there's a lot of things about this astonishing. it's by far the most successful internet ipo from a financial point of view for the company. if the stock drops below $38 next week, it could be an ugly situation. if the stock starts dropping significantly, it's really going to raise a lot of questions. a lot of people looking at the facebook ipo thinking we've got europe and greece and awful stuff with jpmorgan's loss maybe facebook will turn the markets towards a happier attitude and it really did not happen. >> if you're mark zuckerberg and his creative team and spent most of the career to make it better for the user, visitor to the community, now you have a different test, too. maybe an equal test of the market. not just what does the user think but the market. how does that change the psychology of the company? >> he hopes it doesn't change it at all. the reality is it probably will change it. more likely today than tomorrow. mark is very focused on product. he doesn't want to have to think about stock stuff every day, doesn't want to appear on quarterly earnings calls, doesn't want to think about making analyst numbers. if the stock underperforms going forward, it's going to increase the pressure on him to do that, which is going to really hurt his ability to keep moving the product forward, which is all he really cares about. >> david kirk patrick, appreciate your input, we'll watch how it plays out on monday. now to president obama's vitally important weekend. he's at home but operating on the global stage, heading to camp david this hour to have dinner with leaders of the g-8. you're watching live pictures there. marine one carrying the president. largest collection of world leaders ever to gather at camp david, presidential retreat not far from washington. after all day meetings president heads to chicago, equally important nato summit, white house correspondent brianna keilar outside camp david. newly elected president, smiles, handshakes, already a disagreement. right? >> so it would seem, john. you're talking about afghanistan, of course. that's because the newly elected president hollande campaigned on bringing home troops by this year, compare to u.s. plan, bring home combat troops by the end of 2014. it's quite a difference. some think there may be a way for hollande to make good without upsetting allies. there are combat troops in an area of afghanistan which is already shortly going to turn over the lead to afghan troops. it's also possible, and we heard hollande say he would support in other ways. there still could be a money commitment, john. >> questions about afghanistan. how about the economic crisis. hollande and obama see eye to eye on the european crisis which has in the past and threatens again to spill over here to the united states. >> certainly, john. this is where president obama may find more of a kindred spirit in hollande. wheel we've seen europe tighten its belt, cut government programs, not focus on stimulus and deficit the way the u.s. did, growth has stagnated in europe. holla hollande talked more about a balanced approach, stimulus. while he shares this view, u.s. is a bystander. france is not. it will play a key role as europe looks to find a solution to the crisis in the third year. >> the presidential retreat in maryland as the president begins an important weekend of diplomacy. thanks. one of the important questions for the nato summit is the future of the alliance. i'll ask far he'd zakaria whether nato is relevant. next a report card on what mitt romney's tax policies would mean for you. 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[ whirring and beeping ] it's the at&t network -- doing more with data to help business do more for customers. ♪ on december 21st polar shifts will reverse the earth's gravitational pull and hurtle us all into space. which would render retirement planning unnecessary. but say the sun rises on december 22nd, and you still need to retire. td ameritrade's investment consultants can help you build a plan that fits your life. we'll even throw in up to $600 when you open a new account or roll over an old 401(k). so who's in control now, mayans? taxes a little -- always a litmus tax. it will be in the debate between obama and romney. he has a plan that he promises will jump-start job creation. it begins with a call to cut corporate and personal income taxes. >> our taxes are higher than any other nation besides japan. the average of developed nations tax rate is 25%, ours is 35%. we've got to bring our tax rate down to that same 25% level. i will do that on day one. another big contrast, romney's call to make perm innocent tax cuts due to expire this year. >> fought so hard to make sure bush tax cuts weren't taken away by obama. i want to keep tacks down. i'm not looking to raise taxes. >> some critics suggest his zeal now doesn't mesh with his record when he was governor. he raised a host of fees but he says that beat the alternative. >> the expectation was that we'd have to raise taxes, but i refused. i ordered instead a complete review of all state spending, made tough choices, and balanced the budget without raising taxes. >> reporter: now a common critique he calls for tinkering with the existing code. the governor says he's for that eventually. >> ultimately i'd love to see a plan that simplifies the code and lowers rates for everybody. right now let's get the job done first that has to be done immediately. let's lower the tax rates on middle income americans. >> let's dig deeper on the impact of the romney tax agenda with robert reich and republican supporter. you first as the romney backer answer the argument that what you would get here is a third term of george w. bush in terms of tax policy and their argument it didn't create jobs then, why would they expect it to now. >> what governor romney is suggesting is something that would create consistency in the marketplace. what you've seen under obama, volatility in terms of taxes, capital for investment. the corporate income tax, we've got to be able to compete on the world stage. we have the highest corporate income tax in the world. what we're looking for is the middle class breaks. with the adjusted income of $200,000 or less he wants to get rid of taxes on capital gains, interest, those type of things that will make a real difference for middle class families. >> anything in the tax agenda, i'll give you that one. that one will work, it will create jobs. >> i've searched it. it's hard to coup with anything that would generate jobs or create fairness. don't take my word for it. independent tax policy center in washington analyzed the plan and found people in the top 1% furks have incomes over $800,000 a year, you're going to get a tax cut of romney of $150,000 and people in the top 1/10 of 1%, romney land, multimillionaires, a tax cut under the romney plan of $750,000 a year. but if you're in the bottom 20% of americans, according, again, to this bipartisan and independent nonpartisan tax policy center you are going to see your taxes increase by about $153 a year. that may not sound much but that's still a tax increase. meanwhile the governor has not specified how he's going to deal with a gigantic budget deficit. >> congressman, come on that point. the budget deficit then the argument. a number of analysis, $3.7 trillion over 10 years, just making bush tax cuts permanent, doesn't take into act other tax cuts there. has governor romney, in your view, put forth a reasonable plan to not let that blow a hole in the budget? what would he have to cut? >> what republicans have argued and governor romney said we have to broaden the base and lower the rate. to hear democrats talk about it, we're one good tax increase away from prosperity in this country and nothing could be further from the truth. businesses are resistant to make investments because they don't know what the tax cut will be. again, stability, lower the rates, broaden the base. not grow government. that's the fundamental difference. democrats want to raise the rates, raise taxes so they can expand and grow government. governor romney is going to say, no, we have to cut spending. we have a spending problem in this country, something that president obama has never addressed. >> mr. secretary, we're talking mostly about the romney agenda here, one of the critiques, i put forward he wants to tinker, not do anything bold or different. can the same be said of president obama. >> president obama has put forward a tax plan that would increase taxes on the very top income earners, would set a minimum alternative tax for the millionaires and the few billionaires around, and would actually allow for many people to have a larger -- what's called earned income tax credit. that's what they have now but we that would enlarge that. instead of a reverse robin hood tax plan, that's what romney has, take from the middle class and poor and give to the rich and create a huge budget deficit, what the president is proposing is basically a tax plan that is fair to everyone, particularly acknowledging that we have now the most skewed distribution of income we've had in this country in over a century. >> congressman, take your chance. >> what president obama is clearly not working. what president -- hopefully president romney is advocating, he wants to cut taxes on capital gain, invest in interest, dividends for those making $200,000 or less. that's a pretty specific proposal. he's talking about bringing down corporate income tax. that's how you grow jobs in this economy. nothing will do more to drive revenue to the treasury than creating stability, growing jobs and allowing businesses to thrive so they can pay the taxes. he's not going to raise taxes on anybody. he doesn't want to raise taxes on anybody. to suggest he's going to raise taxes on the poor, totally disingenuous and false. >> gentlemen, we'll end the conversation there. as you can see a feisty debate. we'll bring you both back and i'm sure candidates will duke it out over tax policy and fairness. congressman and secretary, thank you so much. >> thanks. today's truth, depends on where you live. presidential candidates won't leave some of you alone until presidential days. others, you'll be ignored. next, what happened when florida gambled on raising standards on its reading test. this hot dog cart and set it up someplace." so my parents went to bank of america. they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years. 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[ tires squeal ] then we turned the page, creating the rx hybrid. ♪ now we've turned the page again with the all-new rx f sport. ♪ this is the next chapter for the rx and the next chapter for lexus. see your lexus dealer. and the next chapter for lexus. in the latino communityr retirement. the word that we use is jubilation. as you're getting older, you should be able to do the things that you love. i tell you what i can spend. i do my best to make it work. i'm back on the road safely. and i saved you money on brakes. that's personal pricing. >> happy friday. >> happy friday, john. happy friday, everyone. let's get you caught up on headlines. the test score is in and half of florida's tenth graders failed the standardized reading test. only 52% of ninth graders are reading at grade level. the state education department put a positive face on results saying it reflected transition to higher standards intended to prepare students for college and careers. school buses in a small town south of atlanta had police escorts again as authorities continue following leads about a man who point add rifle at a bus earlier this week. we told you about the scary story yesterday. the sniper hasn't been seen since people spotted him monday morning and chased him away. schools canceled outdoor activities this week and today was the last day of the school year. probably many parents happy about that now. more than 1,000 firefighters are working to stave off unyielding wildfires blazing across colorado and arizona. colorado's governor has declared a state of emergency today as a fire northwest of ft. collins overtaken nearly 8,000 acres. blazes threatened to burn down a community in arizona. four structures have already been destroyed in the fires that consumed 40,000 square miles of land in that state. no one could take their eyes off of oh, yes david beckham today. mainly because the british soccer star helped light the torch that arrived in london from athens. it will be taken on a 70 day torch relay around britain. the l.a. galaxy star told reporters he'd love a spot on britain's team, the first since 1960. apparently he's on the short list. all eyes on him. >> the jurors in the edwards corruption case got to work today. they asked to see specific evidence. next we'll tell you what it is and what it might mean. plus, the military alliance formed to contain the soviet union still relevant? today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. and then treats day after day... well, shoot, that's like checking on your burgers after they're burnt! 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