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(generated from captions) An oil spill off Queensland

straches along the Sunshine

Coast, and authorities say as

much as 100,000 litres may have

gone into the sea, five times

more than first

thauted. Disgraced New York -

thought. Disgraced New York financier Bernard Madoff may

face life in jail. Unemployment

report prompts Treasury to

revids losses. NRL tries to

shrug off a week of controversy

over Manly's Brett Stewart as

the competition gets under way tonight. M York financier Bernard ? York financier Bernard

a week of controversy over losses. NRL tries to shrug off losses. NRL try to revids prompts Treasury to revids prompts Treaoyment report jail. Unemployment report jail. may face life in Madoff may face life in

tonight. competition gets under way competitioett Stewart as the Manly's Brett Stewart as the Manlyk of controversy over

This Program is Captioned Live.

Good morning, it's Friday, 13

March, I'm Virginia Trioli, March, I'm Virginia Trioli, I'm

Joe O'Brien, the top story ABC News Breakfast, this

morning - dash there are

concerns an oil spill off Queensland's south-east could

by five times worse than first

predicted. At a briefing in

Brisbane authorities were told

the containership 'Pacific

Adventurer' may have leaked up

to 100,000 litres of oil. The

oil has been washing up on

beaches from the Sunshine Coast

down to Bribie and Moreton Bay,

local wildlife has been local wildlife has

threatened and the clean-up

expected to take months,

State Government described the

incident as a light spill. Now

the Queensland Premier has

launched an investigation into the accident and it will assess

the speed of the response. For

more we are joined Australian Marine Conservation

Society campaign Director Craig Bohm on the Queensland

First of all, how do you feel

seeing these beautiful beaches

in this state? Good morning,

Joe, it's actually horrific in

our view to see these beautiful

beautiful beach, which we know

are beautiful but fragile

washed out with this oil spill

which is now stretching for

kilometres, it's quite

horrific. How much damage could

this cause? It can cause a lot

of short-term damage, the

intense thick grade of the fuel

oil is toxic, and smothers

wildlife. The snicial clean-up

may deal with the visible oil.

Maybe the initial losses will

not be as high as could be. The toxic nature of the oil

it will persist in the

environment for many years,

it's concerning. Can you

believe the containership was

out in the conditions in the

first place. No, from the

beginning we have been beginning we have

questioning that very fact.

Whether the ship should have

been allowed out of Newcastle

considering there'd been a

cyclone level 4 storm off the

Queensland coast, Cyclone

Hamish, pounding the coast, and

it wasn't good conditions for

travel. Now, are you hoping

that the ship's owners will be

prosecuted. Wlting , at this

stage we hope -- well, at this

stage we hope to get a successful clean-up operation.

The weather settled, some of

our supports supporters, we

know, and the agencies and

local councils are on the

ground trying to clean up the

mess. I think what we want to

do is actually make our coast

safer from these events in the

future as we expect them to be

more frequent. We are

pictures of the extensive

reaches of coast affected by this. Presumably it's going to

take a long time to clean this

up. Yes, it certainly is,

councils are worried about

resources involved, who is

going to pay will be a big

story as well. I think the critical story for us is what

can we put in place to can we put in place to deal

with this better in the

future. And just how is that

clean-up effort being coordinated. The authorities coordinated. The

have got a mixed team across the Environmental Protection

Agency, maritime safety

Queensland, coordinating with a

string of volunteers trained in

oil pollution response, there

are bulldozers on beaches, to

scrape away the oil there are

teams given special cages to

handle animals washed up,

they are still alive. There'll

be treatment centres. The port

of Brisbane in the middle of

Morton Bay Marine park is

unfortunately involved. It's a complex logistical we are confident there's enough

people in place now. Craig

Bohm, near Moreton Bay, thanks

for that. Good morning to

you. In other news - you. In other news - disgraced

New York financier Bernard

Madoff pleaded guilty to

orchestrating the biggest

financial defraud in history.

He defrauded investors of 80

million in a pyramid scheme

that ran for decades. that ran for decades. He's

ashamed of his actions and will accept responsibility, he could

be jailed for the rest oflies

life. German officials say a

teenager who shot and killed 15

people revealed his

on the Internet the night before. 17-year-old Tim Kretschmer told a chatroom he

as sick of life and planned to

attack his former school.

take the comments Police Internet users did not

seriously. Treasurer Wayne Swan

indicates that Treasury may

revise the Government's

unemployment forecasts

following the surge in jobless

numbers, it jumped to 5.2% last

month, the biggest gain since

1991. The Australian Industry

Group Heather Ridout questioned

the Government's original forecast saying the country

would be lucky to would be lucky to restrict

unemployment to 7% next year. The Finance Sector Union

calls on Australia's banks to

guarantee jobs in exchange for

Government assistance, the

union says the four big banks

laid off thousands in the past

year while posting billion

dollar profits and obtaining

Government guarantees. The union will approach the Government with its proposal

today. The Iraqi journalist who

threw haze shoes at threw haze shoes at former

George W. Bush in Baghdad has been jailed for three been jailed for three years,

Muntadhar al-Zaidi said he

pleaded not guilty, his

reaction was natural and any

Iraqi would have done the same

thing, he'll

New York financialier Bernard

Madoff pleaded guilty to

defrauding Wall Street

investors of around $80 billion, Michael Rowland joins us from Washington. First of

all, can you take us through

the charges that Bernard Madoff

had pleaded guilty to. He's

pleaded guilty to 11 charges

encompassing an epic investment

fraud that he embarked upon

over the last 20 years, there

are charges of wire fraud, perjury, international banking

fraud. As you say, the total

fraud at the moment stands at

$80 billion, it could go more

as investigators track down the

hidden assets. It was a

hidden assets. It was a result

of a pyramid scheme that he put

in place two decades ago, like

with most pyramid schemes, he

used new investment money used new investment money to

pay out large returns to

existing clients, it was going

well under the radars of

Federal regulators until

financial markets imploded last

year. There was a flood of

people seeking redemptions

Bernard Madoff's Bernard Madoff's investment

funds and he fessed and the

deal was up. How many victims

are there, what kind of people

are they? At the moment, this

figure could jump, the number

of victims stand at 5,000, and

they range from emederly

Florida retirees to some of the

- elderly Florida retirers to

some of the biggest names,

Steven Spielberg, Kevin Baikan,

and noble Peace Prize winner

Ellie. All involved in the

investment that Bernard Madoff

perpetrated not only in the US

but overseas, investigators are

looking to Europe to track down

assets. A few expressing rage

outside and inside the

courtroom where Bernard Madoff

made his guilty pleas. There

are a lot of wealthy people,

some are living off food

stamps. They are, indeed.

There's a number of cases,

mainly older people seeing

their life savings vanish, and

often the bills have totalled

more than three, $4 million. A

lot of Bernard Madoff's clients

were wealthy and a lot had

of the their fortunes tide up

in what, until late last year,

were the high performing funds,

now these people have seen

their funds disappear. We are

hearing reelingons of stories,

mainly elderly people, who were

wealthy, relying on food

stamps, seeing inheritansances

that they hoped to pass to

jirnal wiped and in some cases

forced to move out of luxury

Manhattan apartments Is it fair

enough to say he's effectively

become New York's most hated

man. The media seemed to turn

on him. It's fair to say he's

the poster child for bad the poster child for bad karpt

behaviour and a symbol of being

- corporate behaviour and a

symbol of how Wall Street was

out of control. The scenes

leading up to the courtroom

appearance were reminiscent of

those surrounding OJ Simpson's

pursuit. Helicopters

Bernard Madoff's every

There was a media zoo outside the courtroom and

there at the courtroom wanting

to confront the man, one quoted

infamous ly saying he would

like to stone Bernard Madoff to death. That's some

of the deep anger that many of

these investors, fleeced

investors feel about this one

time Wall Street titan, what he

did to them. Investors who will get little back. Thank

you. Returning to Australia's

worsening unemployment

situation, there's news that

the Federal Government might revise it's unemployment

forecast amid predictions that

the jobless rate will go the jobless rate will go aup.

Ben Worsley joins us from

Canberra. I guess the

Government doesn't have a joys

on evicing the figures, they

leap ahead of them. It's not

the level that we now find our

unemployment rate at, it's the

jumped from the last rate to

this rate, if that makes sense,

from 4.8 to 5.2. I think has

people spooked, and if we

needed more of a reality

about the global slowdown

hitting Australia, that was it

yesterday, that's 50,000 people

in one month joining the

of the long-term - sorry, full-term employment,

unemployed. So the Treasury

forecast, as they stand, from

the last economic and fiscal

outlook is for a 7% rate by the

end of next year and 5.5% by

the middle of this year, now we

are at 5.2%, Wayne Swan

concedes that that may well

have to change, various

economists have a range of what

they think the unemployment

rate will hit. Heather Ridout

is the head of

Industry Group, a major

employer, she was on the 7.30

Report with her thoughts. Let's

have a quick look at that. Look, I think they are Look, I think they are really

showing that the economy is

slowing down quite

fact employment is falling

faster than domestic demand, I

think they are quite por ten

shouse of things to come, it

will intensify over the next

few months, across the board

for us we see in construction,

in our services sectors, in manufacturing, really weak

employment data. The latest

monthly reading of employment

and manufacturing went down 9.9

points, a horrible figure. That

said, there are areas of

strength. Where demand is

holding up, that's putting

floor under employment.

Generally, around 40% of our

members will be at the moment

seeking to reduce employment. That's Heather

Ridout speaking there. Combank

is predicting 8% by the end of

this year, JP Morgan, which

often seems for pessimistic

than most says 9% by next year,

for a Government, as we

discussed this week which is

trying to get its industrial

relations reform through relations reform through the Upper House, the timing

couldn't be worse. We'll speak to Deputy Prime Minister to Deputy Prime Minister and Industrial Relations Industrial Relations Minister

Julia Gillard on the program,

lots of issues to put to her.

Summarise the week in

parliament as it's passed. A

lot of jostling with the vote

swinging and holding Senators

over two key pieces of legislation, legislation, the Emissions

Trading Scheme, and the afore

said industrial relations

legislation. On IR, which I

suppose is and will continue to

be the policy at the moment,

the focus is on Nick Xenophon

anding, Nick Xenophon anding, Nick Xenophon from South Australia and Steve

Fielding from Victoria. Most

expect the Greens to back the

legislation. Nick Xenophon, legislation. Nick Xenophon, and

Steve Fielding had concerns

about the union right of entry and the potential for

union Ing, if you like, on the

employment records of non-union

members, Julia Gillard moved to

try to appease those concerns,

and win support by upping the

level of fining that she can

impose on unions that breach

privacy standards, if you like,

under the legislation, under the legislation, that's

designed to win the support

especially of Steve Fielding,

she met with him late last

night. Malcolm Turnbull has

obviously offered his six

amendments to the legislation,

yesterday we saw more detail

about one of those, which is

the unfair dismissal provisions, the Government has

the definition of a small

business which can - the

workers can be protected under

the unfair dismissal provisions

as a company of 15. Opposition suggests that should

be 25. Now, that is another

shifting from Malcolm Turnbull's point of view

December last year when we saw

the legislation he said that he believes unfair dismissal laws

add to the cost of employing

people, but Labor took the

proposal to change unfair

dismissal laws to the election

and won, we must respect that.

That's something that Julia

Gillard is taking great delight

in pointing out. Thank you,

Ben, for those fans of the West

Wing when we next chat, we'll

talk about the list of gifts

that members of Parliament have

been receiving, Ben will take

us through that list. All

registered. Yes the registered

list of pecuniary interests and

charming objects that have been

received. Cuban cigars

included. I'll give you a gift

if you avoid mentioning Peter

Costello in your crosses We

managed so far. Let's look at

the front pages of the major

papers. The biggest increase in

unemployment since the last

recession forced an extra

50,000 people in the jobs queue

says The Financial Review,

Sydney Morning Herald the job

losses have heightened speculation that unemployment

will increase beyond 7%

Treasury forecast. Munn bull

moved to force a showdown with

- Malcolm Turnbull moved to

force a showdown with Labor

over the strel relations

law. The Canberra territory

bucked the trend and bucked the trend and decreased

job rates to a record low of 2.4% according to

Canberra Times, and a photo

Peter Garrett returning to his

rock'n'roll roots, playing the

first of two concerts

midnight oil. These are the

warm-up before the bushfire

fundraising concert. He looks

comfortable there than in

parliament. Certainly does.

The Age says Victoria suffered

the worst unemployment raise of

any state, and it has the same

photo of Peter Garrett. The

papers all do. It's a big

story, interesting political

story. The Daily Telegraph has labelled NSW Premier Nathan

Rees the premier for workers in China after claims State

Government contracts

thousands of jobs overseas.

The Courier Mail leads with a

photo of the damaging oil spill

washing up on Queensland

beaches and says authorities

scramble to throw resources at

the problem. A South

State Government report warns

Adelaide's water supply is

under risk according to the Adelaide

Northern Territory news says

police are hunting a man

any evently assaulted a

6-year-old. A policeman parkly

paralysed after breaking up a

brawl outside a pub was

disgusted when three many were

cleared according to West

West Australian'. Union

membership soared among

Victorian public sector workers

since millions cut from the

bureaucracy. Disgraced former

AFL star Wayne Carey opened his

heard to the The Herald Sun,

and exposed a big tattoo. His

daughter's name. If you'd like

to send feedback:

to send feedback:

Now let's take a look at the

top stories on ABC News

Breakfast - there are concerns

100,000 litres may have leaked

from a container ship off Queensland. Oil has been

washing up on beaches from

Sunshine Coast down to Bribie

and Moreton Bay, local wildlife

is threatened, the clean-up

expected to take months.

Disgraced New York

Bernard Madoff pleads guilty to defrauding investors of around

$80 billion, the biggest case

in history, the 70-year-old

faces spending the rest of the

his life behind bars. The Treasurer Wayne Swan indicates

that the Federal Government may

revise its forecasts on job losses after the unemployment

rate jumped to 5.2% last month, the Australian Industry Group

warns that the number of

unemployed could rise above 7%

later this year.

To finance news, and To finance news, and the

National Australia Bank has

become the second of the big

four banks to slash its dividend. But shares are

actually rising, close to 3%

yesterday with yesterday with investors

expecting the move. They are

betting the bank won't need to

raise capital to offset bad

debts, sure to increase in a

recession, Andrew Robertson

reports. Australia's big four

banks are giving the rest of

the world a lesson in how to

ride out the crisis, the ride out the crisis, the new National Australia Bank National Australia Bank boss

Cameron Clyne isn't

complacent. It will be a

challenging period. By the same

token, we do see some

opportunities for us to grow

our market share as

well. Cameron Clyne unveiled

NAB strategy for the year

ahead, including a new

management team, including a

new member of the board and in

a concession to the a concession to the challenges

ahead the flagging of a reduction in dividend. We

it was appropriate today having

done the strategy update to

signal our intention is

approximately 25% cut really to maintain conservetive balance

sheet settings. Making NAB the

second to cut payouts to shareholders. I thought they

might cut by 30%, maybe they

will ultimately. It's important

to conserve capital in times

such as these, you don't want

to go to shareholders asking

for more capital. NAB's New

York banks clits day and

Yorkshire may need capital down

the track. According the track. According to Brett

Le Mesurier, there's no choice,

no-one will want to buy them

If he puts the business into

run off, they'll wither and die

and destroy more value than he supports them. Hopefully the

support he'd give them will one

day bear fruit. That'll take

lot of time before that happens. A view Cameron Clyne

agreed with as he said the

banks primary focus will be

Australia. The reality is the

markets we operate in outside

Australia is less attractive

than Australia, the right

for us in the short torm is

focus on Australia, let's

maintain the - term is focus on

Australia. One of the biggest

changes in the strategy update

is the restructuring of the

underperforming institutional

banking capital markets

decision known as nabCapital including the closing of some

parts of that business, parts of that business, work Brett Le Mesurier believes

should have been done by Mr

Klein's redecessor John

Stewart. He should have done

more, faster. It looks like

what they were talking about

was something more than what

they actually executed. Costs

will ton to come under scrutiny

this year, Cameron Clyne -

costs will continue to come

under security. Klein refuses

to rule out job losses. General

Motors says it will not need

the $2 billion US it requested from the Obama Administration

to fund its operations in

March. The firm did not

indicate whether the fund would

be needed at some other time.

The struggling auto maker has

been kept in business with

$13.4 billion in Government

loans. To finance, there's been

a surge on Wall Street

overnight: In a few

Vanessa O'Hanlon here with a

look at the national weather.

Ahead a review of newspapers

this morning we'll be joined

Gideon Haigh from 'The

Monthly', here with sport Paul

Kennedy. A new season of NRL

starting with games

Melbourne and Brisbane, it will

be a perfect distraction from

the off-field problems making

headlines in the past week. headlines in the past

John Hayes Bell has a

preview. The Sea Eagles went in preview. The Sea Eagles went

one direction for their season

launch, the Raiders went

another as players were seen to

stick strictly to non-alcoholic

refreshments. Manly's horror

week taking gloss off the week taking gloss off

opening round. Preparing Saint opening round.

George Illawarra for a tough

start in Melbourne Wayne

Bennett equated it to last year's grand final build up

when Storm captain's Cameron

Smith brush with the judiciary

was a distraction. Everyone

looks forward the to the start

now the focus is off. Bennett's

new troops are ready to fire We

are aware what we are going

into. One of the storm stars

provided a boost by resigning

until 2012. I'm happy here,

it's a great club. The glgs and it's a great club. The glgs

staff have done a great

job. The Cowboys travel to job. The Cowboys travel

Brisbane for a Queensland

derby, Neil Henry is wary of

the impact of the Bronco signing Israel Folau, there's

no doubt that Lockyer and

Wallace will kick to his

of the field, he's fantastic in

the air. I think it will be a

packed stadium, game one, all

the boys are looking forward to

it. Great atmosphere, playing

against a quality team, I know

what the young fellows want to

test them. The milestone could test them. The milestone

a cur against Manly, Hazem El

Masri is six points shy

Andrew Johns's all-time

record. Benji Marshall has

expend tended his Tigers

contract to 2011, a fillip for

Monday's clash at

Campbelltown It's good for the

club and me. With promotions

recut the NRL is counciling on

fantastic to put the - counting

on fans to put the hart on fans to put the hart issues

to the side. AFL teams finish

2009 preparation, Geelong and

Collingwood compete for a

Premiership of sorts, the

preseason Cup attracting a

large crowd. Both teams are large crowd. Both teams

taking it seriously. On the

other side of Melbourne

grand final will be held

between the Tigers and Dragons,

tonight game 5 of the NBL

season the decider and the season the decider and the last

of the NBL championships in its

current format. The competition

will be remodelled after the

game. It is fitting most of the best players and two

coaches will be performing in

the fin afterally. Australian baseball had an baseball had an interesting

week, flying high after a

demolition of Mexico, leaving

Cuba, the Aussies facing the

host nation of the world

baseball classic. They weren't

pelted with nuts, bolts or

beer, it's because Mexico beat

the Aussie 16-1 invoking the

mercy rule. The mersy rule

again. One of my favourite

sports people retired after 303

internationals, 99 goals,

Australia's most capped female

hockey player decided it was

time to move on. Nikki Hudson

well remembered for her Christmas to her sport.

Request just didn't feel my

heart was in it, I achieved heart was in it, I achieved all

I wanted to. I'd rather end the

game on top than have a year

two of not playing the best

hockey I could, that's when I

would be sad about ending my

career, one of the young career, one of the young girls

told me she was one when I

started my career with the Hockeyroos, that was

interesting. We remained

undefeated for eight years

under Ric Charlesworth, won

every major tournament.

Olympic, Commonwealth, World

Cups and champion trophies, we

went for a ridiculous amount of

games undefeated. We were

of the best teams, I'd never

say the best, there's so many other teams a-Champions other teams a-Champions League

wonderful things, and individuals, I have had

days with the Hockeyroos and

these days, where we went from

being number 1 to number 5.

That's a humbling experience.

And I think the team now, they

are rebuilding, they are - they

have fantastic young players

coming through, hopefully coming through, hopefully many

of whom will come from

Queensland. When I told some of

the girls on the weekend I said

enjoy every moment you have,

it's a wonderful life. The low

she's talking about, of

is the team finishing fifth in

Beijing last year. It must have

been a tough pill for her to

swallow, beak in the great team

for many years. It - being in the great team for the great team for many

years. It has to be one of the

great Australian sporting team

stories. Ever. The Ric

Charlesworth team went for

eight years, from '93 through

to past 2000. They were dom nant. She had to fight her way

into that team, starting in '93

herself, playing for Australia,

her career has been fantastic,

she was the highest scorer in

the Sydney Olympics, she was a

gun, and captained the World XI

in 2006. You are a big fan of

the Ric Charlesworth. Yeah, I

followed that team and red as

much as I could about Ric

Charlesworth, he's a super

coach the the dynamic in the

team was the interesting thing,

he had them playing for each

either and to go undefeated so

long, it's probably the hardest

thing in sport because you see

great teams disintegrate at

some point, but to go for eight

years and be dominant for that

length of time is the biggest

thing. On AFL anything we can

take out of the premiership of

the preseason Cup, anything

from the teams that might

indicate an interesting 2009 season. It's interesting that

Geelong is taking an unchanged

line-up from last year's season

proper, the real grand final

that they lost against

Hawthorn. For many months Geelong would have been bleeding that they lost

grand final. To get a win

tonight will be something for them. I don't think Geelong

wants to lose any games this

year. They'll be tough to

I think it's also interesting

that people are talking about

Collingwood as a reel

premiership threat They always

say that. There's nothing new

in that, Nev won a couple of

preseasons, everyone is talking

about September. Don't get

ahead of yourselves Collingwood supporters - I'm talking to myself. Speaking from experience. ABC News Breakfast

can be watched live on the web

from anywhere in the world:

Now, here is Vanessa O'Hanlon

with the weather. Up north they

had 2 metres of rain already in

parts of North Queensland and

it's still falling. It has,

it's amazinging Innisfail

adding 182mm to 2,461 this

year. Heavy falls are expected

with a combination of easterlies, troughs

ex-Cyclone Hamish, looking at

the satellite, this thick cloud

hanging around eastern

Queensland will cause thundery

showers, there's a few storms

and showers over Victoria and

NSW, and with some broken cloud

over the south-west, there'll

be odd patches of rain. A Coral

Sea low is lingering off the

Queensland coast. Former himmer

winds and showers existing

around that - Hamish winds and

showers existing. A front and

trough bringing a cool change

and add shower to western and add shower to western and South Australia.

Hamish winds and showers existing ads and showers existing around that - Hamish winds and showers existing. A front and trowers existing. A front and trough bringing a cool changtrough bringing a cool change and add shower to western ane and add shower to western and South Australia. 2,461 this year. Heavy falls are expected with a combination of eaxpected with a combination of easterlies, troughs and ex-Cycloneies, troughs and ex-Cyclone Hamish, looking at the satell Hamish, looking at the satellite, this thick cloud hanging arite, this thick cloud hanging around eastern Queenslandound eastern Queensland will cause thundery showers, d will cause thundery showers, there's a few storms and showerhere's a few storms and showers over Victoria and NSW, and ws over Victoria and NSW, and with some broken cloud over the with some broken cloud over the south-west, there'll be odd patches of rain. A Coral Sea low is lingering off the Que low is lingering off the Queensland coast. Former Hamish winds and showers existr Hamish winds and showers existing around that - Hamish winds and showers existing. A front and thowers existing. A front and trough bringing a cool change and ad bringing a cool change and add shower to western and South Austower to western and South Australia.

See you in half an hour. The top story top story on ABC News Breakfast

- concerns that an oil spill

off Queensland's south-east

coast could be five times worse

than first predicted. At

briefing in Brisbane

authorities were told contain

ership 'Pacific Adventurer' may

have leaked up to 100,000. The

thick black slush has been

washing up on beaches

Moreton Bay and Bribie Moreton Bay and Bribie Island.

The clean up effort is expected

to take month, the State

Government described the

incident as a light spill. The Queensland Premier Anna Bligh

launched an investigation into

the accident that will assess

the speed of the response. Earlier we spoke

Marine Conservation Society

campaign Director Craig Bohm

who said the spill could cause

long term environmental

damage It's horrific, in our

view, to see these beautiful

beaches which we know are

beautiful but fragile things,

washed out with this oil spill

which is now stretching for

kilometres, it's horrific, it

can cause short-term damage,

the intense thick grade of the

film oil is toxic, shoth

smothering wildlife. The -

smothering wildlife. The

initial clean-up will deal with

the visible oil. Initial losses

won't be as high. The toxic

nature means it will persist in

the environment for many years,

it's really conserving. Craig Bohm from Bohm from the Australian Marine

Conservation Society. Speaking

to Joe O'Brien earlier. Now

remember you can contribute to

the ABC breakfast:

In other news - the

New York financier Bernard

Madoff pleaded guilty to ork

Straiting the biggest financial

fraud in Wall Street history.

He defrauded investors He defrauded investors of

around $80 billion in a pyramid

scheme lasting decades. He's

ashamed of his actions and will

accept responsibility for his crimes, the crimes, the 70-year-old could

be jailed for the rest of his

life. German officials say a

teenager who shot and killed 15

revealed his intentions on the

Internet the night before, 17-year-old Tim Kretschmer told

a chatroom he was stick of his

life and planned to attack his

former school. Police say

Internet users did not take the

comments seriously. The

Treasurer Wayne Swan indicated

the Treasury may revise the

Government's unemployment

forecasts following yesterday's

surge in jobless numbersment

the unemployment rate jumping

to 5.2% last month, the biggest

one month gain since 1991. Australian Industry Australian Industry Group

Heather Ridout questioned the

Government's original forecast

saying the country would be

lucky to restrict unemployment

to just 7% next year. to just 7% next year. The Finance Sector Union called on

Australia's banks to guarantee

jobs in exchange for Government

assistance. Theionion says the

four big banks laid off,000 -

the union says the four big

banks laid off thousands, still

posting deposits. The unions to

approach Government with the

proposal today. A

with 18 on board crashed into

the Atlantic Ocean off the

coast of Canada, it was

ferrying workers to an offshore

oil platform in strong winds.

One person has been rescued. 17

are missing. Pakistani lawyers and Opposition activists have

gone ahead with a nation-wide

protest defying a Government

ban on demonstrations in key political political provinces,

authorities tried to foil authorities tried to foil the

march to Islamabad, arresting

anti-government campaigners as

they take to the Phillippa Meaken

reports. Security was tight in

Karachi, demonstrators

launching a cross-country protest heading for a showdown

with the Government in

Islamabad. Members of the Islamist Jamaat Islamiah scuffled with police stopping

them assembling at the High

Court, officers arrested a

dozen protesters using batons

to disperse the

TRANSLATION: The police are

bound by law to take action

against anyone taking part in a

procession rally or demonstration. In a

designed to thwart the protest

before it began authorities

Wednesday detained hundreds of

Opposition activists, banning

public gatherings in some provinces. Despite the crack

down protesters planned to

stage a sit-in at parliament on

Monday. They are

Jaradat act on his promise to

reinstayed - demand reinstayed - demand ing Asif

Ali Zardari act on his promise

to reinstate judges. He is

refusing to do so, fearing they

could try to limit his power or

reopen corruption cases against

him. Organisers hope hundreds

of thousands of protesters will

join the long March to

Islamabad. Former Prime

Minister Nawaz Sharif threw his weight goodnight behind the

process, putting him in

confrontation with the

President. There's speculation

it could leave to political

deadlock, an intervention by

the country's military which

seized power foling chaotic

civilian rule. In a sign of

compromise the leader of a

Coalition party, Asfandyar Wali Khan told reporters the

President agreed to would two

of Mr Nawaz Sharif's demands,

he didn't elaborate. In WA an

inquest into the death of an Aboriginal elder is expected to

hear evidence from the hear evidence from the private

contractor who was contractor who was transporting

him at the time he died. The

46-year-old collapsed with

heatstroke, spending four

in the back of a prison van in the back of a prison van in

40 degree heat with one bottle

of water in no airconditioning. Andrew

O'Connor joins us, the O'Connor joins us, the inquest

has run for several days, what

have we learned about the

circumstances of Mr Ward's

death. Mr Ward was a respected

elder, father of five in a

community called Warburton if

central WA. He was facing a

drink-driving charge, and being

transported from Laver ton to

Kalgoorlie, he was transported

by a private contracto, global solutions, there was two

problems, the extreme heat. It

was 42, and the van he was in

had no airconditioning. Now, he

was placed in the back of that

van for four hours, he had a

bottle of water that he hardly

touched, he was found

collapsed, he had third degree

burns on his stomach, where his

body came into contact with the hot surfaces inside the van

giving you an idea of what the

temperatures were like, despite

medical effort to save him. He

was washed with cold water,

laid with ice, they were unable

to revive him. He died of heatstroke. What's been the

rehabilitation. Family to the

evidence led. They've been

distressed and devastated by the evidence of the

circumstances of his death.

When we know the dangers of

leaving children or pets leaving children or pets in

cars, it's staggering that a

person could be held in those circumstances and later

a result of it. His cousin

Daisy Ward was crying as she

described how his death had a

huge impact not just on his

family but the Warburton

community, and the death of

their grief they asked the

coroner order that the van in

which me died be crushed. Has

the contractor offered an

explanation as to how this

happened. The contractor is

expected to give evidence. They'll face tough questions They'll face tough questions on

a range of issues, not the

least of which is the

maintenance of this van. The

coroner heard this week that

the maintenance of this van was suspect. suspect. Airconditioning reported as malfunctioning reported as malfunctioning up

to a month before Mr Ward's

fatal journey. They heard from

a local police officer who arrested Mr Ward for

drink-driving who said it was

well-known among local police

and contractors that the

vehicle was boarly maintained

and GSL staff told him the

vehicle was considered

unroadworthy, they are

questions that the contractor

will face this morning in the

inquest. I think not only the

coroner, but the family will be

looking for clear

answers. Andrew O'Connor,

thanks for talking to us this morning. Australia's young

generations have never known a

world like this, for most

people in their teens or 20s

they had the luxury of secure

jobs and easy cred the With

today's figures showing youth

unemployment at 24" Generation

Y is seeing that reality bites, Michael Turtle with this

report. At the careers service

at the University of New South

Wales the focus is shifting

from finding the right job to

finding a job at all You cab

see the organisation recruiting

by discipline. Good students

who once would have been would

youed by prospective employers

are finding it

tougher Definitely, it is

terrifying. But employers are looking for the same

things. You learn about it in

class, you hear about if in the

news. So it does affect your

thinking. The university's

careers fair later this month

will have 30 fewer businesses attending than last year's

peak. It's like lig the

companies that do attend will

look for fewer graduates. Student are definitely more concerned about their

employment prospects at the moment. From the

of view we are seeing an

increase in demand for our

career services, we are really

busy. 24-year-old Josaphine

counts herself lucky to have a

job, she's a teacher but can't

get a permanent full-time

position, causing its own problems. Financially one thing

is not getting loans, credit

cards. Once they see the whole

contract one year, they kind of

hesitate. The effect of the

financial crisis is stressing

out the school students she

teaches They want part-time

jobs, especially older girls,

16 and 17-year-olds, they want

older jobs and are concerned

with their parents,

they'll come home and not have

a job. The unstable job market

is reflected at is reflected at Centrelink,

where the number of young job

seekers getting welfare

gone up by 30% in the past

year. Many getting yoouth allowance while they extend

their studies, hoping the extra

qualifications will give them

an edge. Streets in

an edge. Streets in China's

gridlocked cities are worse

thanks to a Government program

aimed at boosting car sales.

The program is part of annest

to revive the country's economy

come what may. China

correspondent Tom Iggulden

reports. This is a road in

Beijing, most days it's

anything but peaceful. It's

getting worse. Since January

the Government has been

encouraging people to buy more

cars, cutting sales tax on

Chinese made small engine

vehicles, it's a godsend for

the struggling motor

industry. TRANSLATION: When

the policy first came out in

January, our sales volume for

the month increased by almost

50% compared to the same

in 2008. By focussing on small

cheap cars the policy is

proving wildly popular with

consumers on the lookout for a bargain.

TRANSLATION: These cars

consume less petrol, with the financial crisis going on I

want to save money and buy

cheaper cars. 150,000 extra

cars have been added to

Beijing's streets since the new

policy came out at the start of

last year. Most have low

emission engines, they are

still adding to the notorious

TRANSLATION: I think

traffic jams and air pollution

are caused by cars. I think

it's better if we don't buy

more cars, we can take the bus

or subway. The Government says

economic growth must come first. You cannot stop

developing the auto industry

just because it influences the

environment. And tell everyone

to stop driving cars and go

back to riding bicycles. As Beijing's authorities try

fit more traffic on to

fit more traffic on to crowded

roads there's concern the

city's famous bike paths are

under threat. How many times

did he have to do that to get

that exactly right, the timing.

I want to see the tapes. You are watching ABC News

Breakfast. The top stories

Queensland authorities are told

that as much as 100,000 litres

of oil have leaked from a

container ship off Queensland,

five times more than earlier

estimates. Oil has been washing

up on beaches, threatening

wildlife in the Sunshine Coast

down to Bribie and Moreton Bay. Disgraced

Bernard Madoff plooeds guilty

to fraud, the biggest case in

history. The 70-year-old faces

life in prison. Treasurer Wayne Swan indicates that the Federal

Government may revise forecasts

on job losses after on job losses after the unemployment rate jumped to 5.2% recollection

Australian Industry Group warns

that the number of unemployed

could rise above 7% later this year.

For a look at the papers, we

are joined by Gideon Haigh,

from the The Monthly Magazine, If the Government re

vices figures, it's

they are one step

behind. Everyone is revising

figures, JP Morgan saying

unemployment could be 9%, let's

deal with what we have in front

of us. All the papers all

with the unemployment data

today. We'll run through those

headlines, we'll pop them

The Age goes for the local

angle. Victoria recording the

biggest rise. Victoria leads

the nation, look out NSW, South

Australia, here we come.

Interestingly all the papers

refer to various stages to an

underlying trend which is the

replacement of full-time jobs

to part-time. It's almost like

a Bernard Madoff machine, you

pour the full-time jobs in the

top, part-time comes out the

bottom. Michael Sutchbury bottom. Michael Sutchbury in

the Australian begins the Australian begins by

saying, "Well done business",

not a line we've heard a great

deal of. It's a big day for Lit ration, Malcolm Turnbull tried

out now phrases, the Rudd recession. Several minutes

repeating it in concert. It

earns him a Tanburg on

front of the age, and the

terrible trifecta reported in

the The Australian which is higher unemployment, higher

debt and greeter levels of

industrial disputation, which

is not bad, but far be it from

me to be pedantic, a trifecta

is first, second and third,

rather than three equivalences,

and a trifecta is a favourable

or happy outcome, it's no more

sense than a harrowing

hat-trick. They'll have to move

to unholy trinity. It's

disappointing that Turnbull, disappointing that Turnbull, a

man of great intelligence, has

been reduced to a low level of

political abuse. He

scaled the giddy heights of a

konga line of suck holes. Let's

hope he doesn't get to

that. Let's look at the other

front pages, that unemployment

story of course on all of them.

The financial review, The financial review, the

Sydney Morning Herald, we

should pop up as well and look

at. The treatment of that story

similar in all those papers, in

your view. Broadly similar, all

of them - as I say all of them

move at various stages to

analysing the data. Most

content with reporting the

5.2%. Some stickiness about

the figures in the different

papers, I notice The

figures are different. It will

be a pedant like me that would

bother to discern things like

that. As I said JP Morgan

figures, 9%, pretty scarifying. There are

in the financial review. The

laundry lift are of economists

other predictions for

unemployment - list of

economists other prediction for

unemployment.

unemployment. 7, 8 and your

nib. We have been asking

economists for a while how much

more, higher than 7%, they've

been retty sent to put a figure

on it. People now are coming

out. No-one has gone back

seen what economists were

predicting a year ago. That

would be interesting. That's

not the stuff of front pages.

The stuff of front pages, when

it's not economic is it's not economic is

footballing, we have a litany

of misbelieving

Wayne Carey - he's

he's in a happy place on

front of the The Herald Sun, he's emotional trainer says

he's been through an emotional

bushfire because he lacks

emotional literacy to deal with

obesity of shame. Walking

through a hall of through a hall of whirling

knives of mixed metaphors. That's great. I'm

increased. It is. It was good

to see him in that article

apologise for that half apology

that he gave that he gave to... He's

apologising for the apology. An

assault of someone, and he

said, "If I offended anyone I

am sorry" Yes, am sorry" Yes, indeed. He's

finally seen the problems with

that. Brett Stewart meanwhile

is in a very unhappy place, and

by the time this story is over

they may have to build an

unhappy wing to accommodate the NRL. 'The Daily Telegraph'

publishes further details of

the fisticuffs involving

Anthony Watmough where he

referred to a young former Ms

Snow bunny candidate of 2006 as

a slut. To her father, not

surprisingly there was an

altercation followed. What

would we do without misbehaving

footballers, they almost

constitute good news when they

feature. We have Ricky Nixon,

the misbehaving football agent

on the front of the age. What

would be do without footballers

in various psych lops of sin

and atonement. He left a scene

of the accident police had to

track him down And blew

0.108. Had been trig substantially. It's with mix of -

mix of - drinking

substantially. It's with a mix

of horror and demight and

dismay that you read - delight,

and dismay that you read. We

know how much money is pumped

into PR and attempted education

campaigns There's an air of

relief. That little vestage of

non-economic news that's staked

out here. It's almost worth

paying footballers to perform a

sideshow burlesque for our

amusement in distraction. When

I looked today on page 3 of the

Australian, there's a story

about the Kevin Rudd alcopop

tax going through parliament,

and I thought a year ago this

was a defining issue of our

political generation, there has

been a total makeover in the

news these days, and what used

to be terribly important seem frightful trifialityies. You

are a bit of a cricket tragic,

why do you think cricket has

fewer problems in relation to

these things than rugby league. I don't think it has

the same - there aren't the

same number of high profile

cricketers, as there are high

profile footballers, I

cricketers are constantly on

the move. They are sort of - if

it's Friday, it must be

fisalabad, they are not

to the same assiduous coverage,

there's not the same intrusive

level of a tabloid press. And I

also think that footballers do

seem to be perpetual at risk

environment. They seem to move

in public more than cricketers

do. Cricketers do at least seem

to occupy or remove from daily

life. In the way that

footballers don't. Is that

deliberately constructed deliberately constructed by

Cricket Australia. I think it's

an arrangement of mutual

convenes for everyone. It's best that there is some things

we don't know about the

cricketers, lest our admiration

be disrupted. There's a high

profile incident in King's

Cross, it took the captain a

long time to get over

that. Ricky Ponting is

concerned. 10 years blameless

record we go back to the

bourbon and beef stake

Ricky Ponting to do anything. For rugby league anything. For rugby league you

think back to yesterday. A

remind er you can watch all remind er you can watch all of

ABC News Breakfast streamed

live:

Thanks, Stirling Mortlock

returning to outside centre for

the Brumbies, as they attempt

to rescue Super 14 season,

they'll meet the Waratahs in Canberra, NSW high on confidence after beating the

Reds last week, other games

involving Australian teams, the

western force trying to beat

the Crusaders, who are winless,

and the Reds trying for a

victory against the sharks.

That team hasn't lost a game

this season. Australia had this season. Australia had a

disappointing end to the world

baseball classic, they were

unable to beat Mexico a second

time around and could not

progress past Round 1. The

nation too strong beating the

Aussie 16-1. As we talk about football preseason premierships

and the state of the NRL season

there's a big game going ahead,

and the Dragons will play and the Dragons will play the

Tigers in Game 5 of the NBL championship. The last of its

type, because the NBL

championship will be reformed

after this game. You mentioned

the AFL preseason game. The

problem with that is every story in relation to story in relation to that

mentions that the teams are

going to take it

seriously. Yeah. And seriously. Yeah. And people

doubting it. There's no

doubt. The fact that it has to

be mentioned is the issue. It

goes back a little way.

sort of time is doing funny

things with my memory, it seems

to be that preseason

premiership used to mean

something, players used to

celebrate it up on the stand

and they held the cup up and they held the cup up until

St Kilda won it and Grant

Thomas drooped the cup and made

it clear he wasn't pleased with

winning it. It was the injury

issue, too many good players

were injured ahead of the AFL

season. Clubs are smarter,

they'll rest players, Geale

resteded a lot of its players - Geelong rested a loft of

players two games ago, now is

the time to have stars playing

tonight. The clubs are

professional about how they

prepare for the season. It will

just be another preseason came

with a lot more people watching

and Collingwood people taking

it seriously than their own team. Including

yourself. That's right. Now

here is Vanessa O'Hanlon with a

look at the weather. There's

been some decent rain falls

offer the last couple of days

in NSW and Victoria. As we look

at the satellite. We see the

widespread thick cloud

remaining, it will continue to

cause thundery showers today.

Good news for the drought

stricken areas. Thundery

showers over eastern Queensland

and broken cloud over the

south-west you can expect rain.

A Coral Sea low sitting off the

coast of Queensland, with it

winds and thundery rain,

troughs causing humid north-easterlies, showers and

storms over the eastern states,

showers and frost banging cool

changes to western and South Australia. ringing cool changes to western aool changes to western and South Australia.

howers over eastern Queensland and broken cloud industrial rel broken cloud industrial relations south-west you can expect rs south-west you can expect rain. A Coral Sea low sitting off A Coral Sea low sitting off the coast of Queensland, with it winds and tueensland, with it winds and thundery rain, troughs causing humid ny rain, troughs causing humid north-easterlies, showers and storms -easterlies, showers and storms industrial relations eastern statndustrial relations eastern states, showers and frost bringies, showers and frost bringing cool changes to weste bringing cool changes to western and South Australia. Astronauts on board

International Space Station had

to evacuate to an escape

capsual after a bit of space

debris came too close. It was a

motor and possibly came from

the space space, it past without hitting the space

station. See you in a station. See you in a bit.

An oil spill off Queensland stretches to the Sunshine

Coast, authorities say as much

as 100,000 litres may have gone

into the sea, five times more than first thought.

New York financier Bernard

Madoff facing life in jail

after pleading guilty to an $80

billion fraud. Concerns of job

losses ahead. Wayne Swan hints

the Treasury will revise its unemployment forecasts while

the finance union says banks

accepting Federal assistance

should guarantee jobs. And the

NRL tries to shrug off a week

of controversy over

Brett Stewart, as the

competition gets under way tonight.

This Program is Captioned Live.

Good morning, it's Friday, 13

March, I'm Virginia

Joe O'Brien, and we start with

the close of trade on Wall

Street, where markets have

surged for the second time this

week. The Dow Jones closing up

3.5%, the S&P 500 closing up

around 3.5%, as did the Nasdaq.

We'll update you on the figures

as the final trades are

counted. There are concerns an

oil spill off Queensland's

south-east coast could be five

times worse than first

predicted. At a briefing in

Brisbane, authorities were told