Its 3 00 on the east coast, noon on he west coast, 8 00 p. M. Here in rome, and well get a new pope but not today. 15 minutes ago the cardinals voted and the black smoke rows from the chimney, and we learned the pope will not be chosen today. The cardinals did not get the 77 votes necessarily. They rarely pick a pope on the first round. It was beautiful scene this morning at 115 cardinals aelectricitiors filed into the st. Peters basilica to celebrate the final mass for the conclave. Conclave meaning with key, a tradition that began in 1268. As the story goes the local officials became to fed up with the lack of decision of choosing a pope for two years so they were looked up and encouraged get done. Le there was a call for unity of the church. Shepard then the walk into the Sistine Chapel. Chanting the litany of the saints. Under the frescoes of creation and the last judgment. Each cardinal placed has handon the gospel to pledge vow of secrecy. Then it was time for everyone else to get out. With that the master of ceremonies said, latin for, everybody out, leaving just the cardinals some assistants behind as the heavy wooden doors shut. Shepard well not see the inside of the chapel until the white smoke pours into the sky. Amy kellogg is live. Reporter shep, we had that gray smoke, and i think the scenes outside of st. Peters basilica with crowds in the rain, in the cold, waiting, eyes fixed on the screens that had the Sistine Chapel chimney upon it, waiting to see if there by gray smoke or white smoke or no smoke. We figured wed see gray smoke tonight after a day of incredible pageantry with the cardinals first having a mass for the election of the pontiff in st. Peters basilica this morning, and then the beautiful scenes of them making their way to the Sistine Chapel where they will continue to cast votes until a pope is chosen. The speculation continues with italian newspapers and the bookies still putting angelo scola, the the archbishop of milan in the poll position. The canadianary. Bishop and a couple americans being talked about as possibilities as well. We got out and about today, talking to catholics. Many of them pilgrims here to witness this incredible event and asked them what they were hoping to see happen in the Catholic Church under the next pontificate. Any of the scandals that have been brushedder in the rug, wayne somebody that is going to stand up and not be afraid, not be timid, be very bold, and say that this is how the church is this is our tradition and this is what were going to da and going to do and make change. Reporter we have a little inside information from cardinal dolan. This morning he apparently packed some snacks to eat. He said earlier he hopes it goes quickly. He was a little traumatized by the stories of cardinals being locked in and only being given bread and water, thinking he might need a little sustainan. Shepard Robert Moynihan is here with us, plugged into the system here. Theres such a big challenge ahead. Many different ways to tackle any number of problems. Do you have a sense for how it is the reformers want to begin the process . Shep i was just thinking how to explain the situation. We have a massive oil favre two or three people trying to put their hands on the steering wheel. For 50 years the church has been trying to become more modern. Joseph rat singer goa wanted to clean things up. Its also massive. Universities, religious orders and a bank. The structure requires organization, and it requires political diplomacy the Catholic Church used to be the National Religious of many states and its been losing that status. Thats why i call it a massive oil tanker. Were going to have changes and were watching one critical part of the process. One cardinal said, lets become a curious and stable government, but he really meant, lets keep going from the insiders position. And the other man is completely silent, and is still alive, Pope Benedict xvi. He said, lets have clarity. I want to have it but dont have the strength to bring it. The cardinals listened to these two men and today didnt make a decision. I think its fascinating theater but its reality. Shepard you ask people involved in the process or speak on behalf of the vatan, they will tell you theres no politicking. That flies in the face of reality, because there is, and jockeying for two different positions, how to go former. Aside from which reformer is at the top of the list and is it possible for that map to becomes pope . We right now, as people have been saying, common wisdom. Im not bringing up anything new. There are two or three candidates trying to get a consensus, and looks like we have the first sign unless we have an election tomorrow well have a little bit longer conclave. If one of those two candidates, the man who would be close to Pope Benedict is Cardinal Scola of milan. Then sharer would be in of sao paulo brazil, german origin, who is a very nice and good man but real in a sense a creature of sodano. He was very close to cardinal ray. Cardinal ray is the last one into the Sistine Chapel, 80 years old. The two of them are were running vet can business. And cardinal sole dan know soldano is a representative of vatan diplomacy and ideas that a structure cant be run on prayers and hopes and wishes. That kind of charismatic church, and even Pope Benedict understood this. A church requires planning, just like a university or television network. So soldano has a point. The problem is when you folk accuse too much on the institution, and lose sight of the spirituality, you can be in danger. Shepard their problems are very big. They have cardinals who are subject to blackmail, vulnerable to blackmail. Scandals within the bank scandal. There is a sexual abuse of children scandal that seems to still be bubbling, that has been covered up for decades. It goes on and on. Are these reformers of the mind to come in and say, heres what we have done, heres how were going to fix this so we can move on . Are or we going to remain in this slow, inside the vatican, inside the government, slog through thats so difficult for everyone involved, catholics and noncatholics. Your questions are the right questions. I do think no one expects an overnight reform, and i dont think the idea of a man coming in in 100 days changing things. I expect i think we expect the process to take years. People are lookingon the first two candidates now, and i expect that even the possibility of an american is being raised, but i think there could be an unexpected candidate. It was interesting the cardinal from nigeria came up yesterday in the papers. I dont know how anyone got the information. But he was in the meeting of cardinals, apparently speaking out that jesus didnt have a bank. The church maybe doesnt even need a bank. In other words, it was an evangelical type of appeal from a popular cardinal. Shepard and some applause. That gives you an indication we dont actually know but we have hints that something is bubbling there, and im fascinated to watch it, and im hoping something very surprising comes out of all this. Shepard its so much fun to watch it and to realize were all part of history. So good of you. Look forward to speaking to you as this goes on. The next few days should be interesting for catholics and noncatholics. Think how many people are represented. 1. 2 billion on every continent on the planet, and all challenges we laid out. What happens here today will begin to decide how theyre going to tackle them. With the government thats been in place for so long or the reformer who comes in and says, no, lets open it up, lets show what weve done wrong. Explain where we made mistakes and correct them so the Catholic Church can, as its primary mission is, begin to spread the gospel again and grow the fold again. Well be here day and night for the next however long. Theres other news as well. Congressman and former have thal nominee paul ryan, he is presenting the republican partys proposal for a federal budget there was an Immediate Response from washington insiders. No way congressman ryans plan will pass. Well look at the details and the democratic response, which has come. Plus it last forever. Stocks are slipping after a long winning streak. So what is behind the numbers . Down 14, still above 14,400. Jerry willis looks at the good news and what is driving things on this special edition of studio b. Live on a chilly and rainy night in row. [ male announcer ] its a rule of nature. You dont decide when vegetables reach the peak of perfection. The vegetables do. At green giant, we pk vegetables only when theyre perfect. Then freeze them fast so theyre are as nutritious as fresh. [ green giant ] ho ho ho. Green giant with an intuitive motion activated lid and seat,ad bold makes sure youll never have to ask him again. Savor and explore, a the Great Indoors friskies indoor delights. Feed the senses. Shepard 15 minutes past 8 00 in rome on this monday night. Thats st. Peters square and it was absolutely packed an hour ago, as people waited to see if we would get white smoke or black smoke. They waited because if the were a new pope, someone would come to a balcony and announce such a thing and history would be made before their eyes. Instead they have gone home. Good evening again from rome as the process of the conclave has gun. Has begun. 77 votes will decide who the next pope is and the jockey egg for the votes is will underway. Joining us no, father morris, a fox contributor. Father, one of the questions people who are within the church and those who watch the church one question is, how can this church relate to a group of people in a large part of the world where social ideas are changing. Where this idea that women dont get to be part of things is just not understandable. That some of the social issues the church still espouses i dont have to go through them all here. Where so many people in the developed world are all about making changes, but the places where the church wants to attract new followers are still of the same thinking. How can the church move forward and attract people . Its a great question. Shepard not very eloquently stated. Theres a real disconnect between a large part of society, even among catholics, and what is going on here, and the teachings coming forth from the vatican, but i wouldles say theres a disconnect between what a lot of people are living and what the bible teaches us. So the way the vatican and cardinals are looking at is how to be faithful to what we have been begin by god, the teachings of the bible, while at the same time reaching out and presenting it in a way that is both joyful and convincing. Thats tough. And so you have to figure out, okay, what is it we can change and what is it that is not ours to change. Shepard why is it that the thinking that half the population is to be excluded as leadership . How can you be relevant and a figure of authority and one to whom we should Pay Attention when you exclude half of the population when you dont allow women to be part of things. I think you have a very good point, shep. I think women should have a much more active shepard is that changeable . Much more active involvement. Shepard why cant a woman be cardinal . Doesnt necessarily if you understood priesthood, the question of authority, women should be able to do that. But the way jesus set it up, even with his first disciples, he had women doing all sorts of things. Yet he chose 12 men to pass on the eternal fraternity. And i think there should be more women involved here here in the vatican. With the sex abuse crisis, have happened to the degree it has happened, and a coverup, if there were more women involved in serious positions of leadership, i dont think it would have happened in the same way. You have a point. Doesnt mean that the church can say, we are going to change what jesus did and say that women should be priests. Priest doesnt mean necessary di shepard that was 2,000 years ago. Women didnt get to do anything 2,000 years ago. But the church doesnt evolve with society . In a time when women we dont have to go back that far where certain races were threefifths and women didnt get to do anything. And everybody understands women are as capable of doing anything as men are. Theres a disconnect. I think a lot of women could give a better homily than i could. Its a theological issue of the priesthood. God does not allow me to marry and have children. Men and women are different and have different roles, and the church is saying the priesthood in particular is about spiritual fraternity. Jesus set it up that way and we cant change it should will be more involved in Church Leadership . I think so. Shepard a lot to take in. Another sinkhole in the news today. Thats the turn. This one swallowed a golfer midgame. The pictures are next. Also, stocks are mixed on wall street. A little up, a little down, but one thing is clear, the number wes see look at that all we had to do is sit around and talk for a second and we get back to even territory. Maybe jerry willis can take us over the hump. Live from just outside vatican city on this monday night. [ male announcer ] this is kevin. To prove to you that aleve is the better choice for him, hes agreed to give it up. Thats today . [ male announcer ] well be with him all day as he goes back to taking tylenol. I was okay, but after lunch my knee started to hurt again. And now ive got to take more pills. Yup. Another pill stop. Can i get my aleve back yet . For my pain, i want my aleve. [ male announcer ] look for the easyopen red arthritis cap. Shepard if youre a market watcher and you like streaks, today for a while looked like it might be a bad day. Looked like the streak might end. Now look at the big board. Up just barely in the home stretch. 36 minutes left in the trading day. Its been in the red most of the day but at it evened out. But it could be the end of the streak. The winning streak put the s p 500 within striking range of its alltime high. The index fewer ten points yesterday from a rally and then sputtered. Im holding out for the raft half hour rally. What happened with the. The Germany Central Bank had bad things to say about the euro crisis. But you cant be greedy. Stocks dont grow to the sky. All three indexes are up 7 to 10 this year and now some of the best known strategists say were due for a pullback. J. P. Morgan chase saying theyre going to pull back. So everybody is calling for it. Shouldnt be surprised when we turn a little south here. Shepard explain to people why it is that the markets are clearly recovering more quickly than the rest of the economy and certainly more quickly than some peoples households. Its confusing. Doesnt feel like the economy is doing great but the stock market is on fire. When you buy stock, youre not buy an economy, youre buying an company, and many bigger companies, the dow, these are international companies. Theyre making a lot of money overseas because some of the questions they are doing business in have 0 a stronger economy. Caterpillar, ge, apple. When you talk about the New York Stock Exchange or dow, youre talking about companies doing business all over the world. Well talk it tonight on my show, business network. We have experted lined up to talk about where the market might go next. Shepard always good. Thank you. Google will have to pay millions of dollars to settle charges it spied on people across the country as part of its street view mapping service. The the giant was slapped with 57 million fine. Each state claimed that between 2008 and 2010. Google improperly accesses Wireless Networks and stored peoples private information. Things like emails, Text Messages and web history. Google claimed that rogue engineers caused the breech, and they will now train employee how to protect peoples privacy. 7 million to google, which i guess is like fining you a penny. We balance this budget in just ten years. Thats in the House Budget Committee chairman. Congressman paul ryan. The former republican vicepresident ial candidate today unveiled the house g. O. P. Plan which includes no tax hikes. In other words, no revenue increases. In other words, no closing of loopholes. The white house called it a wrong course for america. Among the proposals, repeal president obamas Health Health care overall. And 4. 6 trillion in spending cuts, including major changes to medicare and medicaid. Congressman ryan claims the plan will actually create a 7 billion surplus by the year 2023. Political analysts say it has absolutely no chance of passing in the senate. And democrats say it shows republicans are out of touch with most americans. Mike emanuel breaks it down live on capitol hill. The congressman is raising eyebrows by calling for something that cant be done. Cant repeal the president s overhaul because the president has a pen. Thats right. Some in his own party are suggesting paul ryans budget is not realistic when you consider president obama has another four years in the senate. You have democrats in the majority in the senate. The house budget chairman explained his thinking. We believe that in the interests of healthcare for seniors and healthcare for families and making medicaid work better for low income people we need to repeal and replace obamacare with a better system. So we cant balance the budget with obamacare because its a fiscal train wreck. So bottom line that is one of the Key Selling Points for congressman ryan. Another one, of course, as we are running trillion dollar deficits every year, is balance within ten years. Obviously would be challenge when you consider how much trouble washington is having these days but its a goal he thinks may be attainable. Shepard thats what he says. Then the democrats have come out with a plan that closes loopholes on big corps so theyll actually have to pay tacks. Reporter correct. They also do not care for ryan budget 3. 0. Senator patty murray is the Senate Budget chair and she is due to fully unveil her budget plan tomorrow. We know it is due to raise taxes, close to a trillion dollars, and would also cut for cutting spending bay by a dribble does so 1. 8 trillion in deficit reduction. And the white house is ripping the house g. O. P. Plan. We look at the ryan budget as a perfect example of why balance is so necessary. Because this is what the alternative to balance. It results in unfair tax hikes on needle class americans and results