tv The Cycle MSNBC January 7, 2014 12:00pm-1:01pm PST
i'm krystal ball. good news, i predict an end to this nonsense soon. i guess i'll leave the forecast to raphael. >> out in the cold this historic blast of winter weather is hard on the jobless and homeless too. i'm toure. the president is turning up the heat on congress and one senator is spending the day witnessing the struggle of the homeless first hand. we'll talk to him. frozen assets. criminal charges filed against one of the nation's biggest banks. i'm abby huntsman. today an exclusive look at the government's mission to catch a trader. the cold, hard truth about self-help books. i'm jonathan capehart. as you make those new year's resolution, we wanted to know who are you really helping? if you are watching us right now, that likely means you are inside. that's a good thing for 187
million of us who are trapped in this polar vortex. the coldest air mass in a generation today marched east and a whole new population of americans are saying bring it on, mother nature. >> two pairs of long john bottoms, a sweater, underarmor top and this big down jacket. >> stay home. don't come out. it's very, very, very cold. >> i'm begging mother nature for mercy. just how cold is it? this escaped prisoner turned himself back in to authorities in kentucky just to escape the cold weather. meantime, there is no escaping the problems at the airports. millions of americans have been in an aviation prison for the better part of a week. another 2,500 cancellations just today. that brings the total this week to more than 11,000. frustrated passengers are no longer packing their patience. >> waiting in line that's a mile long to try to rebook. can't get any information from
anybody. >> been canceled twice. honestly, i have no idea when i'm going to get out of here. i just want to get back. i mean, i've been in this airport for about 12 hours. exhausted. >> here in new york, this bitter blast is expected to begin its slow retreat tomorrow. not a moment too soon for our courageous field crews. sarah is bundled up in chicago. >> reporter: good afternoon. we're here in navy pier in chicago. normally a beautiful area to spend an afternoon. right now it is a ghost town. here is why. chicago right now sitting at zero degrees. that's a huge improvement over where we were yesterday at negative 16. add in that windchill, it was absolutely miserable. a miserable night for people as well. chicago's homeless shelters overflowing. record numbers there. they actually had to open up
some offices in some classrooms to handle the people. you spoke just a minute ago about airline traffic. no other mode of travel here is going any better. aaa reporting 650 calls an hour. people needing help. dead batteries. road slide offs and outside of chicago, 80 miles outside of chicago, two amtrak trains stranded overnight. 500 people having to stay on the train for warmth. they were rescued and bussed into chicago today. here not a lot of people on the streets as i said because chicago public schools have shut down for the second day in a row. employers still allowing employees to work from home and officials urging everyone to stay inside, stay warm, and stay safe. back to you. >> thanks. now get back inside. nbc's katie tur is in mexico. not where it's warm and sunny but poorly named mexico, new york, where the windchill makes it feel like 16 below.
katie? >> reporter: the wind is really the issue. it's that frigid wind off lake ontario blowing the snow around. we would have accumulation if not for strong gusts from 35 to 40 miles an hour. any time in the next few minutes it will pick up and you'll see it kind of knock me around. i was hiding behind this tree a little bit earlier. when all is said and done, when this system passes over sometime tomorrow, we should be seeing feet of snow out here. actual feet of snow. not inches. that's if the wind doesn't blow it all away. >> thank you. from new york down the east coast, nbc's gabe gutierrez is in atlanta. the city opened a temporary warming shelter. how are people handling it? >> reporter: i feel guilty after listening to sarah and katie. we're doing okay.
we're now up into the 20s. temperatures plummeted to 6 degrees overnight. 6 degrees in hotlanta. the windchill of course when you factor that in, it felt colder than that. city of atlanta opened that temporary warming shelter. atlanta public schools are shut down today. school districts were shut down across many states in the south. power outages were an issue in some parts. tens of thousands of people were without power in south carolina and some rolling blackouts were in effect but we hear that those rolling blackouts have been suspended. farmers across the south have been watching this cold snap. from what we heard in florida, the citrus growers say they really have dodged the worst of it at this point. so have those in louisiana and farmers and onion farmers in southern georgia are looking at this. in atlanta, we've cracked 20 degrees. we won't crack the freezing mark until tomorrow afternoon. we're just not used to these temperatures here in the south. back to you guys.
>> wow. >> thanks. this weather is serious stuff and we in the media would never try to hype it up. >> anymore weather talk? >> minneapolis-st.paul, minus 20 degrees. >> i never felt anything like this. >> you could be inside your freezer and warmer. >> some of our crew members had tears coming out of their eyes and instantly the tears were freezing. >> things are freezing on my body that i didn't even know were possible to freeze. >> are you breaking up with me? >> raphael miranda never want to overhype. he's also inside right now. we're starting to think of you as the fifth cyclist or something. >> nice to be inside. we're lucky. everyone outside is frigid.
that polar vortex we've heard so much about. the core of it is really now just on top of the northeast and ohio valley. the good news is it will swing back north. i'll set this into motion. there goes the white back toward the north pole and polar vortex returns to its usual position in the poles. we like it to stay there. things will improve over the next couple days. look at windchill warnings across the great lakes to northeast and windchill advisories in effect for many states across the northern and central part of the skoucountry. these are records that we've seen. chicago, 16 below. these are actual temperatures. this isn't windchill here. this morning we set a record in new york city central park, 4 degrees was the low temperature. old record went back to 1896. 118-year-old record smashed this morning in the big apple. philadelphia, atlanta, pittsburgh, all set record low temperatures for this date. windchills right now are still brutal. feels like 17 below in pittsburgh. feels like 6 below in the big apple. feels like 27 below in
rhineland rhinelander. numbers are easing up. yesterday we had windchills in the 40s below zero so things are getting better slowly but surely. here's a look at those winds gusting around 25 miles per hour in new york city. close to 50 in buffalo. just a brutal combination of cold and wind there. everyone will begin to thaw out. a look at the jet stream. by friday into the weekend, it turns milder again even in new york city and chicago. temperatures will be heading in the right direction. here's proof here. proof is in the pudding. five-day forecast. up to 30s by thursday. 40s on friday. and this weekend we're back to the 50s. that's where we were yesterday in new york city. we'll return there. chicago, also. lots of good news for you. temperatures are back to the teens tomorrow. you'll appreciate that. i'm sure you will. 20s on thursday and friday and saturday. you're coasting along in the 30s to around 40 degrees. this is the worst of it right now in the big apple. gets better overnight. tomorrow we ease out of this deep freeze. guys, back to you.
>> thanks. now let's spin. so yesterday i told you that it was possible to be fly in the deep freeze so i'm here to show you how to do it. you have your long coat. puffy. you can stay warm. you have your gloves here. you could have mittens. you have your boots with the sole to make sure your feet don't hurt the ground and get cold. but now i figured i would bring in the other cyclists here and critique their freezing weather fashion. to toure, my brother, this is messed up. this coat is long. where is your scarf? >> this doesn't look very warm. >> it is warm. >> what's up with this hat? >> what's wrong with my hat? >> it's a knockoff. is it a hat or a wig? i don't know. so much going on. >> how should you do it? >> this is how you wear a fur
hat. this is what you wear. >> that is amazing. now, you have the purple flapper head thing. the red coat. it's warm. you have the great mommy boots here with the fur fringe. boots with the fur. here's the thing. when this comes off, krystal is epitome of fly. now, abby, you have the long coat. it's puffy. you have the hood on. you got fur vest. >> and i'm wearing myself with heels. >> fly heels at that. >> this one is disgusting. women in this weather you have to have a coat that goes below
the knee. it's too cold out there. hood is key. i don't know if i would go with this flower action. >> i stole it from my daughter this morning. sad on a lot of levels. >> mommy chic. >> if you want more jonathan style tips which i think we all do, you can find us online. up next, a senate vote that this krystal ball did not see coming. "the cycle" rolls on for this tuesday. ♪
it could at some point be any of us. that's why we set up a system of unemployment insurance. this insurance helps keep food on the tabling while dad is sending out resumes. it helps mom pay the rent while she's learning new skills to earn that new job. it provides that extra bit of security so that losing your job doesn't mean that you have to lose your house. >> no matter how cold it is in washington, the bully pulpit is heated up. president obama flanked by some of the 1.5 million americans who saw their long-term unemployment benefits run out. these federal benefits were cut off ten days ago. they kick in after workers exhaust their state benefits, which average about six months of coverage. thousands more this week will see their state jobless aid end, which is why today the senate passed a key vote toward a three-month extension. another note. the vote was supposed to happen last night but was delayed when a dozen senators had travel
problems getting back to d.c. back to the story, today's plan has $6.5 billion price tag. the republicans say it's irresponsible to pledge funds without finding a way to pay for it. >> yes, we should work on solutions to support those out of work through no fault of their own. but there's literally no excuse to pass unemployment insurance legislation without also finding ways to create, good, stable high paying jobs and also trying to find money to pay for it. it's time to get away from "temporary government programs" and give the american people the tools they need to drive an economy that truly works for them and for their families. >> the majority of the nation wants to see these benefits extended. lawmakers who stand in the way are at risk of major backlash from women, seniors and latinos. howard fineman is here to help sort it all out. howard, we are not going to make you model your winter attire.
rest assured this time. >> as soon as i saw you guys doing that segment, i tried to get the stage crew to go find my big puffy winter coat so i could put it on. >> i bet you look great, howard. >> they kept coming with the wrong coat. >> there you are looking great. >> i got to say four of you standing there on that stage, it was really -- >> that's what we go for every day here. >> i don't know how i can follow that and then mitch mcconnell. >> i was afraid to ask who was woody allen in all of that. >> howard, i like to put things in perspective here. president bush raised unemployment benefits back in december 2002 and here's how he put it. let's take a listen at the time in his weekly radio address. >> these americans rely on their unemployment benefits to pay for the mortgage or rent, food, and other critical bills. they need our assistance in these difficult times and we cannot let them down.
>> at that point the unemployment rate had just risen to 6%. that's lower than it is today. as you know, historically, unemployment benefits have been considered emergency funding by both republicans and democrats. what we're clearly seeing is a shift among many republicans lawmakers. what's the underlying reason do you think? >> you are seeing a shift because back then president bush was calling for a special emergency extension of unemployment benefits of exactly the thing that democrats are arguing for now. president bush at that time did not ask for a "pay for." did not ask to take money out of another place because it was considered to eed to be an eme. the republican party has changed. in the atmosphere in washington has changed. the reasonable middle ground between republicans and democrats is now gone and what's
left are ideological combatants that want to turn everything, even the plight of 1.3 million workers now, not to mention their families. president obama talked about a wider impact of up to 14 million people over the next year. the ideology triumphs the specific. that doesn't usually happen in politics but it's at risk of happening now. >> i think that's right, howard. republicans themselves have been all over the place in terms of their messaging on this issue. let's listen to rand paul versus rand paul on extending unemployment benefits. >> i do support unemployment benefits for the 26 weeks that they're paid for. if you extend beyond that, you do a disservice to these workers. i'm not against having unemployment insurance. i do think the longer you have it, it does provide some diss t disincentive to work and we have to figure out how to create jobs and keep people from becoming long-term unemployed. >> so rand paul's initial
comment is representative of the ideology that you're talking about. there's a widespread belief among republicans, seems to be, that these unemployment benefits are making people lazy and not trying hard enough to get jobs. now we're hearing a shift because that sounds hard hearted. we're hearing a shift to this is not fiscally responsible. we have to pay for it. so what is the real sort of center of the republican opposition to this? >> i think the center of the republican opposition is the idea that government can help. because i think that goes to the heart of what's been stripped away to its bare essentials in american politics today, which is the question of the role in government. can government do good things in society. can government be a place that you turn to when necessary? not at all times. when necessary. that goes to the heart of the story back to basics republican
conservative philosophy that you see now. they don't like it because they don't want the government to help -- it's not that they're cruel in a direct sense. or even in any sense. it's just that it upsets them the government could be seen as doing something positive. that they will fight tooth and nail because that's at the heart of the new conservative republican party. >> the democrats feel like they are fighting the moral fight here when it comes to extension of unemployment benefits, raising the minimum wage, food stamps. you name it. clearly the democrats feel that this is something that will be successful for them in the 2014 midterm elections. i have to ask you, howard, do you think that this is a winning strategy or winning fight for the democrats? >> not in and of itself, no. this is a place holder for what needs to be other things to come for president obama and the democrats in 2014.
this is only january. they're not going to be able to play this card, if you will, this part of the argument as the only one that they're going to take on between now and november because the fact is that a lot of people receiving these benefits, a lot of the people that we're talking about who need the help and who any decent society would -- who any decent society would want to help, vote in lower numbers perhaps even at midterm elections. i think what the president is trying to do and democrats are trying to do is reassemble their coalition which to some extent has been fragmented by obama care. there's some evidence of that. they want to build momentum and build outward and back to the argument for job creation in the middle class which has to be at the core of what they do. this alone will not win them elections, i don't think. it may rally the democrats but it's going to be -- it's hard in a midterm election to turn out
democrats. that's why they're focusing on this now and it can't be all that they do between now and november. >> that point there it could rally democrats and democrats throughout the democratic wing of the democratic party. a new study shows the safety net helped reduce the percentage of americans in poverty from 26% in 1967 to 16% in 2012. this is part of what is galvanizing this sort of new left movement. this progressive movement that is dreaming of elizabeth warren in the white house. we don't know if that's going to happen. there is this sort of revival. we've seen the right get righter but now the left wants to get involved too. >> well, i think that's right. i think there was a lot of concern among democrats that the long-term unemployed were kind of tossed aside at christmas time in the interest of this
attempt to show that members of congress could be adults on the budget. people that got cut out at the last minute in the budget negotiation before everybody left for christmas were the long-term unemployed. so the president really is speaking -- i saw him speech in the east room today. he was speaking to the base of the democratic party there. he was telling them -- one of his political tasks was to tell them i haven't forgotten about you and i'll fight for you. and he's going to get some benefit from that even if the republicans end up blocking the extension of long-term unemployment benefits, which they well may do in the house. the democrats think it's a win-win for them. maybe. they better be careful not to look too cynical about it. >> all great points. great start to the new year to have you on the show. thank you for joining us. >> glad to be back. take care. up next, bcs goes out in style. highlights from the game that kept a lot of folks, including myself, up late last night. [ male announcer ] here's a question for you:
energy lives here. take the energy quiz. [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. ♪ ♪ if i was a flower growing wild and free ♪ ♪ all i'd want is you to be my sweet honeybee ♪ ♪ and if was a tree growing tall and green ♪ ♪ all i'd want is you to shade me and be my leaves ♪ grown in america. picked & packed at the peak of ripeness. the same essential nutrients as fresh.
the news cycle says good-bye to the bcs. auburn, winning the title game a hundred years ago. at the half it was all auburn 21-10. two big plays brought fsu back into the game. a fake punt in the second quarter and this 100-yard kickoff return in the fourth and he could go all the way. and then some. auburn came back with a td run by mason. that put the tigers back on top. with under two minutes left in the game. it fell to fsu quarterback
jameis winston to put it in the end zone. this game winner with 13 seconds left on the clock. your final fsu, 34, auburn, 31. >> exciting. >> from the heights of athletic celebration to depths of disappointment, lindsey vonn's dreams of competing in sochi are over. this morning vonn announced she's pulling out of the winter games. i did everything i possibly could to somehow get strong enough to overcome having no acl but reality has sunk in that my knee is too unstable to compete at this level. vonn, a darling of the vancouver games, has been plagued by injury. she had surgery and came back to compete but reinjured it in november. vonn place to have more surgery and be ready for the world championships next year and that
is your news cycle. >> the bitter blast of weather is especially hard on those who have no place to go. as we mentioned yesterday here on the show, shelters and warming stations are open in many major metro areas. if you see someone in need, do your part and try to get them some help. the weather is not the only crisis facing those most in need. here is where today's two big stories, weather and senate vote on jobless benefits come together. this holiday center chris murphy shadowed a homeless man to look at the challenges of getting back on your feet when you're down on your luck. nick lost a sales job in 2013 and lost his home a few months later and then december 28th, lost his only remaining source of income, $100 in jobless benefits. the senator spent the day with the man roughly his same age and joins us now in the guest spot to tell us about the experience. senator, thank you so much for being with us. i just want to tell you on a personal level how moved i was
by your willingness to go and spend part of your holiday with this man and show all of us what life is really like and real world impact of the votes you're taking in the senate. thank you for that. and i was hoping you could just start by telling us about the day that you spent with the man that we're calling nick. >> this is a guy who is my age. he's 40 years old. never been homeless his entire life. he's had ups and downs but this is the first time that he's been without a roof over his head. why? because he ran smack into the middle of an absolutely terrible economy. he lost his job. he sort of ran out of good will from his girlfriend and from relatives where he was staying and he found himself on the streets 40 years into his life. he's now in a vicious cycle where he can't get a job without a home because it's really hard to list a homeless shelter on job applications. he also can't get a home without a job. the fact is that when you cut off unemployment benefits as we
have done, you essentially make homeless tens of thousands of people across the country who use that unemployment check to pay rent or to pay their mortgage and you stick them in the same cycle that nick found himself in. he'll find his way out because he's got skills and because this economy will recover, but it is a dehumanizing experience to just do it for a day when you're minute to minute and hour by hour priority is to stay warm. it feels much more like existence of an animal than a human being for a lot of the day. >> one of my favorite sayings is don't judge someone else's journey unless you walk a mile in their shoes. you make that point in describing your experience. so little you can understand about the way people live by sitting at a conference table and that seems to be a big problem in washington. very disconnected from many lives of those who are really suffering and that's exactly what you did walking more than a mile in this man's shoes. what were your biggest takeaways
from the day? >> everybody gets to that situation through a combination of bad luck and mistakes. there goes with the grace of god we wouldn't make the same mistakes as well. the fact is that all of these guys want to get back on their feet and this mythology that has been perpetuated by some of my colleagues in the senate that jobless benefits encourage people to stay out of work or encourage people to stay out on the streets is just flat wrong when you sit down and talk to these guys on the new haven green because each one of them admits that maybe they made mistakes to get there but want to get back to work and they would trade the jobless benefits or spot in homeless shelter they get any way of the week for a job. they just aren't there when today there are three job applicants for every single job opening. that's just the reality. it's not that these guys aren't looking or working hard to try to find a job. the jobs just don't exist for a lot of these folks.
>> i'm glad you put it this way. there by the grace of god. these kind of things could befall many of us. many think poverty comes strictly from people who make mistakes and deserve what they're getting. that's not true when you talk about structural inequality and job problems in this country. the person you picked -- devil's advocate you a bit. the person you picked has a dependency problem that dogged him throughout his wife. part of your day was following him to a methadone clinic and aa because he's working hard to stay sober and clean but that's a day-to-day fight. what would you say to those who would say to you why should we use government funds, taxpayer funds, to help somebody who is a drug addict? >> ultimately anybody that struggled with drug addiction knows that it's hard to resist those temptations when you're living out on the streets. frankly, a house, a home, is the best way to kick somebody's habit and ultimately our system,
whether it be our system of incarceration or our system of health care, is going to take care of people with serious drug addictions one way or another with potentially tens of thousands of dollars being spent it makes a lot more sense to spend a little bit of money on a jobless benefit that allows a guy like nick to get a job than it does to wait until he falls into an absolute free fall of descent where he ends up in a jail or emergency room costing us a lot more money. forget the moral argument as to why you help someone like nick who is hooked on crack as a 13 year old by his drug addict father. there's a fiscal argument why you put a little bit of money in now to prevent the big spend on the back end. >> classic example. senator chris murphy, thank you for being with us and for your work. >> up next, who catch a trader. the fbi is hot on the trail of a real life gordon gecko. >> astonish me, pal. i don't care where or how you get it. just get it. hey guys! sorry we're late.
did you run into traffic? no, just had to stop by the house to grab a few things. you stopped by the house? uh-huh. yea. alright, whenever you get your stuff, run upstairs, get cleaned up for dinner. you leave the house in good shape? yea. yea, of course. ♪ [ sportscaster talking on tv ] last-second field go-- yea, sure ya did. [ male announcer ] introducing at&t digital life. personalized home security and automation. get professionally monitored security for just $29.99 a month. with limited availability in select markets. ♪ a man who doesn't stand still.
but jim has afib, atrial fibrillation, an irregular heartbeat not caused by a heart valve problem. that puts jim at a greater risk of stroke. for years, jim's medicine tied him to a monthly trip to the clinic to get his blood tested. but now, with once-a-day xarelto jim's on the move. jim's doctor recommended xarelto. like warfarin, xarelto is proven effective to reduce afib-related stroke risk. but xarelto is the first and only once-a-day prescription blood thinner for patients with afib not caused by a heart valve problem that doesn't require routine blood monitoring. so jim's not tied to that monitoring routine. [ gps ] proceed to the designated route. not today. [ male announcer ] for patients currently well managed on warfarin there is limited information on how xarelto and warfarin compare in reducing the risk of stroke. xarelto is just one pill a day taken with the evening meal. plus, with no known dietary restrictions, jim can eat the healthy foods he likes. do not stop taking xarelto, rivaroxaban, without talking to the doctor who prescribes it
as this may increase the risk of having a stroke. get help right away if you develop any symptoms like bleeding, unusual bruising, or tingling. you may have a higher risk of bleeding if you take xarelto with aspirin products, nsaids, or blood thinners. talk to your doctor before taking xarelto if you have abnormal bleeding. xarelto can cause bleeding, which can be serious and rarely may lead to death. you are likely to bruise more easily on xarelto and it may take longer for bleeding to stop. tell your doctors you are taking xarelto before any planned medical or dental procedures. before starting xarelto, tell your doctor about any conditions such as kidney, liver, or bleeding problems. xarelto is not for patients with artificial heart valves. jim changed his routine. ask your doctor about xarelto. once-a-day xarelto means no regular blood monitoring -- no known dietary restrictions. for more information and savings options, call 1-888-xarelto or visit goxarelto.com.
checking the markets now, dow up triple digits at this hour. nasdaq and s&p are also in positive territory. investors have an optimistic outlook ahead of friday's job report. big loser is jpmorgan on news it will have to pay $1.7 billion to settle charges it broke the law in dealings with bernie madoff. the latest crime news from wall street was announced today by the u.s. attorney in new york city. >> we intend for every penny of that $1.7 billion forfeiture to go to victims of madoff's massive fraud. >> the same federal prosecutors are involved in what is being called the biggest insider trading case in history against this guy. jury selection began today in lower manhattan. he worked for the hedge fund sac capital and steven cohen who a hedge friend of mine called the lance armstrong of the hedge
fund world. he used tactics that many considered cheating to be one of the biggest winners his corner of the world has ever seen. >> sac capital was a giant among hedge funds and cohen emasked incredible wealth including a sprawling mansion in greenwich, connecticut. a $62 million beach house in the hamptons and multiple apartments in manhattan including this $115 million mid town duplex. cohen also assembled one of the most valuable private modern art collections in the world and he has given tens of millions to charity. in 2002, cohen sent out christmas cards where he posed as king cohen. by 2008, his personal fortune reached $8 billion. beating the stock market year after year, cohen's returns even
with his first calls seemed too good to be true. >> and they were. sac capital pled guilty to insider trading and paid a fine of $1.8 billion. a record amount. cohen himself has never been indicted. the feds hope the case could land cohen. tonight's fantastic episode airs on pbs. martin, you mentioned first call. that's the thing that separated stephen cohen from other people. he paid the banks so much money in commissions often overpaid them so they would call him first with information. i think people would say what's wrong with that and who is getting hurt there? >> that's just the beginning of it. first calls don't necessarily contain insider information that you or i couldn't dig up if we were diligent and had resources to do it. if you're willing to pay higher
commissions than anybody else on wall street, you're getting first calls that count. it goes beyond that. that's just the beginning. you pay a lot of commissions, you get a lot of favors. you're a good client. they call you with information. whether that information actually is proprietary information and whether you trade on it is the next set of questions. >> you were able to obtain footage of steve cohen's deposition. i wanted to show people a little bit of it. >> you were the head of sac, right? >> doesn't matter. >> that wasn't my question. you're the head -- >> correct. >> you take compliance seriously? >> that's correct. >> and have you ever taken it upon yourself to read the rules? >> i rely on my counsel. i might have read them. i just don't remember. >> wow. the arrogance of this guy not
just what he's saying but just his demeanor and this above it all sense that you get from him. he's not the only one. we're focused on this guy but -- >> he's not the only -- well, first of all, he has not been charged criminally. his company has been charged. now, to a lot of people, myself included, it's a little weird to have the company you built and you established and you ran be charged criminally and you're okay. he's facing a civil charge from the securities and exchange commission for what's called failure to supervise. in other words, he willfully or -- he was negligent in terms of paying attention to what kind of activity was going on in his trading floor. anyone that knows the way sac capital ran, everything ran like spokes of a wheel through cohen. the feds are still looking at him. this is not over by any means.
this is the video that you just showed of his deposition is exclusive material we were table to obtain through a source we don't even know who it was. it was given to us on a dead drop. i give credit to my co-producer who being so persistent in getting it. he's grumpy here. >> one of the things that you also highlight is the fact that the feds are getting far more aggressive in going after insider trading and using some techniques they traditionally only used to go after the mafia. >> in years past they had a hands off policy of not wiretapping wall street figures. when they started looking into the kind of insider trading and realized how much corruption was out there in the words of one of the fbi agents that we interviewed, we needed a bigger
boat, quoting "jaws" and to go after that they needed more tools and convinced a judge to give them the right to wiretap. that became the principle tool that allowed them to go as far as they have been. >> martin smith, a fascinating episode. great reporting as always. frontline to catch a trader airs tonight on pbs. check local listings for time. you can watch it online at pbs.org. something you want to hear but you read the new self-help book for the new year. derrick lost his coat at a bar in college and thought there had to be a better way. he decided to update the coat check process for the digital age using phones, tablets, photos and qr codes. for more, watch "your business" sunday mornings at 7:30 on msnbc. if i can impart one lesson to a
new business owner, it would be one thing i've learned is my philosophy is real simple american express open forum is an on-line community, that helps our members connect and share ideas to make smart business decisions. if you mess up, fess up. be your partners best partner. we built it for our members, but it's open for everyone. there's not one way to do something. no details too small. american express open forum. this is what membership is. this is what membership does. ♪ ♪
i have a big meeting when we land, but i am so stuffed up, i can't rest. [ male announcer ] nyquil cold and flu liquid gels don't unstuff your nose. they don't? alka seltzer plus night fights your worst cold symptoms, plus has a decongestant. [ inhales deeply ] oh. what a relief it is. [ male announcer ] what kind of energy is so abundant, it can help provide the power for all this? natural gas. ♪ more than ever before, america's electricity is generated by it. exxonmobil uses advanced visualization and drilling technologies to produce natural gas... powering our lives... while reducing emissions by up to 60%. energy lives here. ♪
on friday we talked about getting healthier this year. yesterday we helped you build a road map to the career you want and today in "the cycle's" unplanned new you series, self-help with 450,000 options on amazon. on google, more than 16 million hits for self-help seminars alone. from books to infomercial, life coaches to group seminars, it's no wonder the industry is worth an estimated $11 billion. is it worth it for the people doing the self-helping? jessica took the classes, went to the conferences and even walked on hot coals for her new book "promise land, my journey through america's self-help culture." >> best cover ever. >> i love the cat. >> so i have to tell you, when i
was 14, my mother made me do -- i know. a child. it was this thing in the the 8. >> i don't know what "s" is. >> i didn't get anything out of it other than watching adults shriek and cry about lives of hurt. i was freed from my fear of tractor-trailers on the highway. tell me about "s" and this self-help phenomenon. >> my uncle did it. they told me they weren't allowed to use the bathroom. >> nope. for hours on end. don't let your body control you. >> this comes from a movie. it's called "love happens."
the speaker loses his wife in the beginning of the film and he does these motivational speeches but he doesn't believe it because it doesn't work for him. >> they're going nowhere fast. then something happened. thank you. an event that changed everything for their coach. the guy started sleeping at the office. reinvented the playbook. he was on the case 24/7. they went on to win the national championship. >> he walks out basically, i don't believe the crap that i'm preaching. is it a money-making machine or do they preach what they believe? >> for the most part, people believe what they're preaching. for the most part, they were
very sincere. >> what was the self-help book or seminar that most helped you? >> i took a fear of flying class and that actually helped me. >> what was the weirdest thing you did? we mentioned you walked on hot coals. >> i did walk on hot coals. it is more impressive than it sounds. they insulate you. people get hurt if they standstill, but it is very difficult to burn yourself. >> how did that help you? >> it takes a lot of bravery to walk on hot coals. >> you felt inspired. >> i felt powerful. it was short-lived. >> wait, wait. it was short-lived, the gain you got from risking the soles of your feet. >> a short-lived gain is still a gain. >> it absolutely is. >> it was from here to there, six feet. it is more of like a symbolic
walk. >> we'll take that. thank you. again, cutest book cover ever. up next, what today's senate vote tell us about 2014 politicking. [ female announcer ] remember when you thought anything was possible? [ laughing ] it still is. you can do weight watchers new simple start plan entirely online or on that magic phone of yours. it's a 2-week plan to start losing weight right away. join for free. weight watchers online. log into your new beginning today. tdd#: 1-800-345-2550 life inspires your trading.
tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading. kand i don't have time foris morunreliable companies.b angie's list definitely saves me time and money.
to offer payment. >> we'll extend unemployment insurance if you kill obamacare. it is cruel and delusional. in mcconnell's world delaying obamacare would pay for the unemployment insurance extension. obamacare doesn't actually add to the deficit. this exposes the true nature of republican opposition to the extension of unemployment insurance. they're not concerned about fiscal responsibility. they are idealogically opposed. that's how rand paul can claim it would be a disservice to workers. this graph tells you everything
you need to know why we still need benefits. that's that part there with the little orange dots. long-term unemployment is still higher than at any time since world war i. workers are flocking to every single job opening, even ones that are poorly paid. americans haven't gotten lazier. the long-term unemployed with caught in a vicious cycle. the longer they're unemployed, the harder it is to find a job. their children become less likely to do well in school and find a good job as adults.
congress counts success as not breaking anything. if republicans were really concerned about paying for unemployment benefits, there are a number of ways that democrats would be open to. for the gop, it's a sophie's choice. you can have jobless benefits or health care. they would never dream of asking the folks riding high right now with record corporate profits and stock prices to help out. mcconnell's comments today has made me realize something else. we tend to talk about how the republicans have no agenda, nothing to run on in 2014, when that is actually not true. they have an agenda. no help for those who need it most. no jobless benefits. sequester forever and a return
to the preobamacare nightmare of 48 million uninsured. that does it for "the cycle." now on to ari melber. >> i don't know if i have a warm enough hat. good afternoon to everyone. it is tuesday january 7th. this cold blast has much of the nation shivering. the senate did start to thaw. >> happy new year, everybody. hope you're keeping warm. >> it's being called a polar vort vortex. >> things are freezing on my body that i didn't even know were possible. >> these are not statistics. these are your neighbors, friends, family, any of us. >> this is