>> that's typically how the sec does it. they come in after the crime has been committed, they toe-tag the victims, count the bodies, and try to figure out who the crooks were after the fact, which does none of us any good. >> stahl: the mastermind of the ponzi scheme of all ponzi schemes, bernard madoff, may be in prison, but he is hardly forgotten. his untidy little business that bilked thousands of people out of billions of dollars is no more, but the big question, "where did all the money go?" remains unanswered. irving picard is the court-appointed trustee assigned to find that money and return as much of it as possible to madoff's investors. it's a daunting and thankless task, for while he's suing whoever he can on behalf of the victims, he's also suing many of the victims, those, who he says, benefitted and should have known they were investing in a house of cards. in june, 2010, picard and his chief counsel david sheehan sat down with morley safer to update us on the legal battle. >> safer: just before the whole thin

the sec is saying, we don't want a market panic to cause you to lose money on necessarily. so the restrictions are not designed to prevent you from @%tting your money. is to prevent you from doing something stupid unnecessarily merely because a panic in the marketplace. gerri: well, i think our viewers are smart enough to do the right thing. i have confidence in them. but i think the moral of the story here is the you may see some restrictions and ability to get your money and it's time when people panicking. the flip side of that is it's never good to sell an investment when people panicking because you never know where the floor is. >> it also means -- you're right. it also means you have to fully understand how these investments work. many people believe money market funds like bank accounts. they're not. that can fluctuate commander could be seized. gerri: and that think that's a great point because the sec is trying to make these look more like investments and less like bank accounts because people have assumed that that money will always be safe. and so that is highli

the headlineas the sec proposed this strict new rules on money market acunt withdrawals. what do you say here? i mean, it sounds like a little scaremongering to me. >> that is entirely what i is. this rule by theec is an outgrowth of 28 when one of the biggest and coming in ft, all this money market funds in the country bro the buck, meaning the $1 per share price fello $0.97. the sec wants to make sure that never pps again, so they're instituting new rul, rig now rely propose that would limit th ability of institutional money-market funds, not the ones you and i use, to be haven a different way so that we don't have a shock tt occurred in 2008. the fr tactics, some people using just designed, as you3 pointe out, to be fear mongering. it is not legitimate are fair. gerr let me get t facts straight. some cite the rules are not met to a restricted iidividual -nvestors, rular investors like you and i with their money market funds. to have th right? half right. yes. one set of rules would require the institutional money-market funds to stop using a $1 fixed are price. the oth

sec got 100, more than any other agency. of those 100 we're 38% of way through. >> right. >> coming out election year where there was debate about wall street whether it is has been reined in. i dodd-frank reined it in three years. this is mandates for regulators like the sec. we're talking years. >> three years away? >> depends on the agenda and prioritization. part of the problem is, some of these things in dodd-frank a lot of them have nothing to do with the financial crisis. they're based on a false narrative about the crisis. if you asked me, i recognize it's the law of the land. we have to do these things but we should prioritize our day job. prioritize equity market structure. >> right. >> prioritize other things important to investors in the markets. >> one thing would be the volcker rule. we should point out the, paul volcker, author of that rule, former chairman of the fed came out and said, listen and the president's economic advisor, listen this thing will be implemented in june. we'll know where the sort of boun

the sec voted unanimously for stronger rules on money market funds. the $3 trillion market came close to toppling during the 2008 financial crisis as investors rushed to withdraw funds. now, the sec is proposing money market fund prices "float," similar to bonds, and a 2% fee on certain investor withdrawals. bernie madoff is offering sage advice on how market regulators can stop scams on wall street. he spoke to a marketwatch reporter from prison, where he is serving time for cheating investors out of billions of dollars in an elaborate ponzi scheme. madoff says the sec needs more resources to protect investors, hedge funds are a danger to the market and need to be registered, brokerages and advisors should have independent custodians, and accounting firms should audit other accounting firms. in today's cover story, the future of family foundations is evolving rapidly as millenials take the reins of their predecessors. this week, dozens of philanthropic leaders of families, businesses and universities are gathering to chart out new ways to invest and

the sec is the response will for the assignment. but sometimes a reallocation requires a reassignment, so there has to be a pairing of the exercise. i also want to comment to you and all of your colleagues here at that sinking back to 15 years ago and talking about spectrum with the members of congress, the understanding and the grip of both sides of the spectrum debate that exists today in the congress is far different than it was, and i think that is terrific because you are the key to keeping those mtia and the administration moving on this. your specific question, yes, they need to be pared. and, as you know, the upper band of that, the congress has said you're going to have this done by february of 2015. of the lower parts is actually part of a 905 meg reach from 1755 on up to 1810. no, it's not. i'm sorry. up to 1850 if i could get my math right. but i think parsing that to deal with the first part of that 1755 to 1780 and then trying to pare it is an important thing that has to happen, and we should not have to wait for every

sent that copy to the sec. we know sec is looking into this. thomson reuters did not immediately respond to my question of comment. >> you said redacteded, what is redacteded? do we know the numbers involved in the contract? >> we don't know what was redacted. but we do know they sent over a redacted version of the contract. clearly the sec is taking an interest in the issue. this issue has been in the media a lot lately. is market moving. how they are released. who gets the information. exactly when and whether or not this is all technologically fair. and how closely calibrated are they to keep their clock synchronization spot on so no one is getting this information before is supposed to be officially released. that is all part of the mix here. we know the sec is looking at this piece of it asking for copy of the contract between thomson reuters and ism here. >> fascinating. a lot going on in that record. thank you, we will keep following this. >>> we are moments aaway from closing out three day rally. >> let's talk with mike an telly. and ja

sec has not kept up with the past outperformance either, returning 6% year to date through mid may. numbers through the end of may are not available yet but it's unlikely they've made up too much lost ground but you can't rule anything out with sec. >> do you have any idea from the people you talk to, your sources as to what steve cohen's psyche is right now? everything that's swirling around, the fact he's likely to face a large number of redemptions and where he could go from here. >> from what i understand he's very frustrated. he and the firm always maintained they did nothing wrong. there doesn't look like a lot of solid evidence. the two pharmaceutical sales that sec made in the summer of 2008 for profits of a quarter billion dollars, no hard evidence or wiretap we've seen there. yet he can't seem to crawl out from under the shadow, this continuing legal scrutiny so he's frustrated. i'm told within the firm he continues to joke around and has a characteristic dark sense of humor. he's continuing to go out and about here and there. at the robin hood foundation dinner in a prett

and then there is the sec. the regulator charging him with defrauding investors in a hedge fund. >> they are alleging fraud that harmed investors. >> he also consult for the sec, treasury and the fbi. >> the deeper i dig, the more worms i find. . >> that led me to questioning wall street. >> what could possess him to do what the sec alleged? >> greed, money, stature. ego. vanity. vanity is the devil's favorite season. >> listen to this message he dw delivers last year. >> the only industry that all of us can go from being heros to pond scum or pond scum to heroes just like that. >> things have gotten more kbli kated now. >> it's all after a flurry. we will continue to follow this story and keep you posted here. back to you. >> you would think that china cracking down on corruption is a good thing. not if you're in the luxury retail business. we have that story for you and we will explain in a minute. i want to make things more secure. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs

the sec votes wednesday on new rules covering the $2.6- trillion money market fund industry. during the financial crisis, large investors quickly pulled money out of the funds, leaving smaller investors in a lurch. the sec will vote on a proposal allowing shares' prices to float rather than the current fixed $1 share price rule to avoid a "run" on money market funds. it's round two of the student loan rate debate in congress. on july 1st, rates on government-backed loans are set to double from 3.4% to 6.8%. last year, a deal in congress locked in the rates for one year only. if congress does not come up with an agreement in the next month, those rates will automatically double. on friday, the president said the higher rates place more of a debt burden on students. "here's the thing: if congress doesn't act by july 1st, federal student loan rates are set to double, and that means that the average student with those loans will rack up an additional $1,000 in debt." the gop and president obama both want to tie rates to interest on the 10-year treasury note. however, under the go

the sec has frozen the assets of a trader based in thailand. he allegedly purchsed thousands of out-of-the-money call options and single stock futures in may. smithfield shares rallied nearly $8 just before shuangui group agreed to buy it. trial is set for november 4th for what is being called the largest insider trading case ever. mathew martoma, a former portfolio manager at sac capital advisors, is accused of generating $276 million in profits while trading shares of drug companies elan and wyeth. it's alleged he obtained inside information on negative trial results of the companies' alzheimer's drug. the firm's founder, billionaire steven cohen, has paid a record $614 million in the scandal, but he has not been charged. sac reportedly remains open to investors. wells fargo is settling a discrimination suit with housing agencies across the nation. the national fair housing alliance and 13 of its members will get $27 million to settle the complaint. it alleges the bank favored white neighborhoods during bank-owned foreclosures. wells fargo wi

sec retear of state john ker reurged russia not to supply ther isian government with weapons. he says the delivery of antiaircraft missiles would a -- would have a profoundly negative impact on the region's stability. more on that in a moment. but first, inside syria, the battle for a western city is intensifying. winning the fight for the city is strategically important for the government and opposition fighters. it's on a meage supply route for arms and fighters. it's been confirmed that hezbollah forces are fighting alongside the syrian army and as the conflict spills over, concern is rising in neighboring lebanon. fisher has more. >> they say the injured are all over town. why are we being sentenced to death, this man asks. syrian activists say those trying to help the injured were attacked by government forces, leave manager dead and injured. syrian army ranks have been swollen by the fight from the shia lebanese group. they're intensifying the fight. the syrian opposition say the world should fight them. >> they're coming to our country and the international community is

we suffer. >> reporter: the new head of the sec will take this up. she sees more prosecutor. >> she is enormously capable. i think she's going to focus on this issue because it is central to the public confidence in our capital markets. if you don't have a functioning capital markets and you don't have confidence. >> reporter: your gun collection not going to raise capital. >> reporter: contest to questions. number one, will emerge, buy something else? >> cme is always on guard and all was looking forward. >> reporter: that's the best unanswered. >> reporter: of get a nasty call from terry duffy. to you misprinting alliance and tigers? >> it was more than that. i miss the people. i miss the opportunity. >> i was looking for you that day. because he was hungry. >> reporter: in use it in the trailer with them? >> i did for a couple of hours. you get to know me. he was really a very friendly fellow. >> reporter: on that note. i get in and write. great men of the markets. back to you. cheryl: only dick grasso could get away with calling you charles. it's

the sec can conceivably find steve : and bar him from the securities business. liz: the genius behind the fund is don. >> did he manage his own money? maybe. it is -- you know, and looks like you are purposely evading the law there is a criminal investigation on the fund. this is a very serious situation. liz: this is called whistling in the grave. >> and may be nothing will happen. maybe everyone walks away. innocent until proven guilty. here's the thing, of the last three years, there seems to be like a sense of delusion. they don't believe he's under investigation. the absurdity that we have argued about. they have also misled. the pr firm. i think there is a delusional aspect. brothers. >> yes. and bear stearns thought it was journalists. liz: something i guess. >> they actually believe. liz: that many derivatives. closing bell ringing. blame the media. twenty-seven minutes before the closing bell. apple takes a stand on accusations. it is going to be a very bad few days and perhaps even longer. we have that story next. liz: breaking news. we told you about

firsto report potenal security breaches on sec computers that ctain crucial stock exchange data, but web was was fired for becoming a nuisance, until confounding facts of thease came out, and sec set eled wit settled with h. weber to tell us how difficult that whistle-blower role can be, dad, tha y, i cannot imagine, have you this stuff in frt of you, you take it to those who you think want to hear it thenou a a villain? >> to begin a the beginning, thankou. secondly,, no. whether i learned what i learned, i knew was going to be fired the day that i learned it. neil: really. >> really. i'm an attorney as well as assert fid fraud examiner -- certifiee fraud examiner. whher i learned what i learned, and i was driving home that night, i called my wife when is also a lawyer, i told her i was going to lose myy job. neil: all right, now, you knew that because you knew were going to talk to someone about it, or you could not sit tight and igre this stuff. >> will i knew that because of the situation that i was dealing with, which was bernard madoff fraud and alan stanford fraud and potentia

it is by far the best outcome for the sec to do it. it is the area where they have the expertise and experience. in terms of the actual proposal they put out, it is just a proposal for comment. one of the two proposals, the floating net asset value, is of course qualitatively similar to one of the proposals that was in he fsoc suggestions. we have not yet reviewed this in enough detail to give a iew. but i hope that -- i know for sure that by putting out floating nav proposal, they are moving in the right direction. i hope it comes out with something that is sufficient to meet the very important need of stabilizing money market funds. >> nikkei newspaper. mr. chairman, we have seen greater volatility recently in japanese markets. equities, jgb, and foreign exchange. some say this is due to uncertainty in the federal reserve monetary direction. others say it is lack of confidence in the bank of japan monetary policy. how do you view the bank of japan's efforts? do you still support bank of japan policy? the other question, how much do y

other stories we're for thing, sec chairas share matching libe global. other stories we're for thing, sec chairs share matching liber global. other stories we're for thing, sec chair share matching libert global. other stories we're for thing, sec chaira share matching liber global. other stories we're for thing, sec chair says they plan to require companies and individuals to admit wrongdoings as part of settlements. a major shift. critics including some judges have complained that practice doesn't deter repeat violations. as we've said, cnbc has learned vodaphone has upped its offer. the new offer is for around 85 euros per share. and according to the ft, also instructing a rifle bid based on assets instead of cash at about that level. alcatel-lucent shares have rallied this morning. they announceded a new cost cutting strategy. the ceo aiming to cut 1 billion euros more by 2015. and the m&a wheel keeps spinning like a top as dish network stopped chasing sprint. kayla tausche has more details. what's the latest stage of this story? >> well, ross, it se

you don't even have to buy i with the sec. it is basically a sales plan that you can file as an insider. melissa: >> executive of a company can go out and you can be comptely3 unaware of it. then when they sell they can say that this was soldthrough merrill lynch or woever and i filed it some months ago. the only reqiremen is that you file it not with the sec but the broker aed time you ae not possessingn information. messa: so he decided to ma the sale. i don't know how he would've had knowledge but at that time it ems he didn' know. so hecould say imade a plan. but should he have canceled his order. there is a very high likelihood that he knew what was going on, or the other thing i wa thinking if you just cancel it if there isn't othing going on. and in this case, it's like, i have that in place, i can sll this and i can sa what when i file thai had no idea. >> you think about making this as an insider profit. and you make a killing if you buy the otion. >> in this space, you also-- it is also a foregone maas of ofit. so yo

there was a whole purpose when the sec was first formed. you would have one singular regulatory agency. now, you are suuject to the sec and 51 different ways of looking at things. that can make it very hard to do business in the united states. i can see a national interest. liz: i have a million questions. great to have you here. let's quickly go back to corzine for a minute. it is surprising that you would say it looks like it was politics that helped off charges for so long. it took years to look at some bear stearns hedge funds that were trading oddly. does it hold anything for you that john corzine will be probably charge with at least civil charges? >> it could be political either way. this may have been a case that never would have been brought. liz: it is happening. >> it is not much of a case. charlie: a failure to supervise. >> i am having a hard time remembering other failures to supervise. charlie: i wrote a story about not having the proper controls in place. this is not a secret. during the 80s, i was a kid in college. [ laught

. >> satellite and radar shows relatively sec marine layer pushing inland. that means we are waking up to low cloud cover and drizzle. it is clearer than what we saw yesterday. we set the stage for warmer weather. >> is your kron 4 7 day around the bay forecast shows the potential for triple digits and heading into tomorrow. next week and will mature inland spots climb into the low '80s. we return to the pattern of morning fog and afternoon sunshine. janu . thank you erica spirit still not saying any delays of the early morning commuters. let us take a quick look at the bridges. starting with the west bound 80 right the bay ge tl plaza--the problems to report there. the incident is the west bound. >> the golden gate bridge is looking clear this time. taking you to the traffic map starting off the east bay. the grant of your screen indicating light traffic drive time from market is the berkeley 11 minutes. for the south bay no delays northbound on 280 or 101. >> south bound 101 ride through marin county is clear. drive time from the bottle to san francisco 23

surveillance operations that comes forward saying he drove the sec of all the oddly was the american government destroying people's privacy. he was also comes under fire for its strong play in the gulf monarchies the way activists claim new controversial internet regulations have led to arrests and for the curbing a freedoms. and in turkey police crackdown on protesters for the tenth night in a row with the rallies in the capital demanding the prime minister resigns again the momentum. hungry full monty.

i guess it has the full blessing of the sec, right? even as it seems to me the type of thing the sec was supposed to block as part of its charter, it includes a mission to stop bear raids. to me, if it looks like a bear raid and smells like a bear raid, it can very well be a bear raid. if you are locking for an entry point, wait until it foments more selling. otherwise, don't bother, bear believes this is a life or death matter. they must kibosh the deal or the representations will be solely perhaps forever. here's the bottom line. moves in gannett after acquisition tell us this market is rewarding companies they know, they just know, for certain, that they need to get busy living or get busy dying. i think any of these three stocks will be a buy into weakness. they are too red hot to buy right now. next time the market sells off, more important, we need to bring back more m & a. we need more merger mondays. they have the essence of what's making the targets, but the acquirers go higher, too. stay with cramer. we went out and asked peo

it's to replace roadway secs on the bridges of chevron pipes. people living in that area, living at that point, saint pablo yacht harsher, access to an emergency and came from san rafael and acknowledged the importance of the road work. >> and that is that bridge crossing the chevron oil pipes. it's dangerous. they crossing over and have to be done carefully and can't have cars going on or around it. >> this weekend, caltranshas been paving, striping, and installing barriers for the temporary change. and that work is going to happen every day from 5:30 in the morning until 9:30 at night. >>> and this sunday morning, 2500 bicyclists are getting ready to embark on a 500-mile weeklong journey and that is to raise awareness for the fight against hiv and aids. the 12th annual aids livestock kicked off a couple of hours ago and to end on saturday. the grueling endeavor is a journey for many of the participants. >>> new this morning, oh, we already talked about that. and talking about president obama. on thursday. he's raising money for senators up for

the sec is being pushed to display their public supporters. this proposal does not protect shareholders and it does not protect governors. for the left, this is not about good government or corporate governance, is about winning at all costs. even if that means shredding the first amendment and that is why we need to be vigilant about every one of these assaults. they might seem small and isolated in the particular, but together they reflect a culture of intimidation that extends throughout the government. a culture abetted by a bureaucracy that stands to benefit from it. the moment a gang of u.s. senators started writing letters last year demanding the irs enforce more disclosure upon conservative groups, we should have all cried foul. the moment white house proposed a draft order replying applicants for government contracts to disclose their political affiliations, we all should call them out. when the hhs secretary told insurance companies, back during the obamacare debate, told insurance companies that they could not tell their customers h

i guess it has the full blessing of the sec, right? even as it seems to me the type of thing the sec was supposed to block as part of its charter, it includes a mission. to me, if it looks like a bear raid and smells like a bear raid, it can very well be a bear raid. if you are locking for an extra point, it commences more selling. otherwise, don't bother, bear believes this is a life or death matter. they must kybosch the deal or the representations will be solely perhaps forever. here's the bottom lean t. moves in gannett after acquisition tell us this market is rewarding companies they node, they just know, for certain, that they need to get busy living or get busy dying. i think any of these three stocks will be a buy into weakness. they are too red hot to buy right now t. next time the market sells off, more important, we need to bring back more m & m. we need more americaner mon days. they have the essence of not making the targets, but the acquirers go higher, too. stay with cramer. . humans. we are beautifully imperfect creatur

. >> i'm wondering if the sec has made a deal with him already, that's what i'm wondering. >> i would assume not. the money they are gunning for is him and the money from insider trading. if you don't retrieve him, you put one or two of the traders in jeopardy? it seems like a misfire if that happens. >> what does a hedge fund guy as these charges become public, not conclusively proven, what can they do? even the whole concept of insider trading is subject to litigation these days. >> well, what can steve quoen do? >> anybody. anybody in this situation. what can he do? he's a sitting duck. >> i think he's a sitting duck to being tried in the court of public opinion. you would hope throughout history he has managed this firm carefully to root out information used to make money as opposed to looking the other way. >> you are a private equity guy? in there yes. >> what would happen if they found something out of the blue, what if the authorities came after private equity and they were wrong? >> you mean genuine, i think it would take down the firm. >> take down the firm. is there somethi

the sec is being pushed to display their public supporters. this proposal does not protect shareholders and it does not protect governors. for the left, this is not about good government or corporate governance, is about winning at all costs. even if that means shredding the first amendment and that is why we need to be vigilant about every one of these assaults. they might seem small and isolated in the particular, but together they reflect a culture of intimidation that extends throughout the government. a culture abetted by a bureaucracy that stands to benefit from it. the moment a gang of u.s. senators started writing letters last year demanding the irs enforce more disclosure upon conservative groups, we should have all cried foul. the moment white house proposed a draft order replying applicants for government contracts to disclose their political affiliations, we all should call them out. when the hhs secretary told insurance companies, back during the obamacare debate, told insurance companies that they could not tell their customers h

facing the sec. monday night on "the communicators" at it :00 eastern on c-span two. >> the british house of commons was in recess last week. prime ministers question time returns wednesday, june 5. you can watch it live on c-span two at 7:00 a.m. eastern. you

facing the sec. monday night on "the communicators" at it :00 eastern on c-span two. >> the british house of commons was in recess last week. prime ministers question time returns wednesday, june 5. you can watch it live on c-span two at 7:00 a.m. eastern. can also watch previous sessions anytime at c-span.org, where you will find video of past prime ministers questions another british public affairs programs. center forward released a study in the healthcare law's effect on insurance premiums, which is that most people will see an increase. states like new york and new jersey that have already instituted healthcare changes will see a decrease in premiums if more healthy people come into the system. on six states.ed former bush administration congressional budget office director douglas holds a can and former north dakota representative. this is an hour and 10 minutes. >> good morning. i'm a former member of congress and chair of center forward. we welcome you to our program this morning. center forw

yeah, one sec. oh, good. ma would've killed me if she found out i broke my retainer. hey, uh... can i run something by you? it's about lakshmi. yeah, sure. how are things going? we hit a couple of bumps. she lives over in manhattan beach, so it takes, like, an hour to get there. and she's a lesbian. then why did she even go out with you? she was looking for a husband so she can appear to be straight. and, you know, it sounded crazy to me at first... but i'm actually thinking about doing it. okay, so the reason that might sound crazy... is 'cause it's crazy! look, howard, you're in a relationship. you know you have to make compromises. yes, but my compromises are about which bedspread to buy or whose turn it is to do the laundry, bernadette's or my mom's. it's a great deal. we both get our parents off our backs, i don't have to come home to an empty apartment every night. plus, once i'm married, i can finally eat carbs again and let myself go. why don't you tell your parents you want to try to find someone else? maybe one who hasn't slept with more woman than you. beca

wait a sec. that's not a monster. >> this is the amazing resonance experiment. all you need is a generator, a wave driver, a speaker, and attach a metal plate to that speaker. as you noticed, a substance on to the metal plate, some sand. we'll showcase what happened to the sand. at different frequencies. >> no way! >> what? >> wow. >> look at that. why is it making designs? >> a different frequency the metal plate vibrates in different places and pars don't experience vibrations at different frequencies and in that instance the sand falls, if you will, into that location. as a frequency increases the pitch the designs become more complex. >> like crop circles. >> yes. it wasn't aliens, it was a giant speaker. mesmerizing. >> we're going to talk a look at an experiment we've seen before on the show. supercool. >> yeah. >> this experiment, thanks to our friends at king of random youtube channel, thee pufied wa impurities for the ice to crystallize to start the crystallization process. he left the purified water in the freezer for 2:45 to get the water below the fr

. >> i was staying up also, another story that actually did -- sec, this whole issue about whether now they announced yesterday that they're going to no longer allow you to settle without admitting or denying guilt when they think there is a public trust issue. and i think that's actually -- >> i think that's a big deal because it's always been easier for companies to just settle. but if you have to settle and then admit you did something wrong, that opens up up to -- >> when you think about goldman sachs, they would have never settled if theyed h eed had to guilt. i think it will make it harder for the sec to bring certain cases knowing that they have to go all the way. >> that's because of a judge in new york who kept throwing out some of the settlements, correct? >> that's part of it, but mary shapiro said they were changing policy. >> the pressure had come from the new york judge. >> were you out last night? >> i was not. i was home with the kids. watched mad men. adobe systems results driven by rising demand for the creative cloud which is the subscription base the version of thei

hang on a sec. (strained grunting) i still can't do it. well, what do you know? i guess you really don't want to shoot me after all. oop, the safety was on. (pained scream) (electrical buzzing) (groans) all rise for the honorable judge 724. bender rodriguez, on the charge of attempted murder, i hereby find you guilty. (cheering) ah, yeah! guilty! captioned by media access group at wgbh access.wgbh.org captioning sponsored by comedy central ( theme song playing ) ( cheers and applause ) (cheers and applause) ♪ look at all the lonely people-- ♪ ♪ jo jo was a man who thought -- ♪ ♪ band on the run -- ♪ neighbor i'm amazed at the way you love me all the time -- ♪ ♪ ebony and ivory -- (cheers and applause) >> stephen: whoo! welcome to the "report," everybody! (cheers and applause) welcome to the "report"! good to have you with us! (audience chanting "stephen") >> stephen: thank you, ladies and gentlemen! please, sit down. folks, i've got to tell you, with a greeting like that -- with a greeting like that, folks you know how that makes me feel! folks, i

. >> we talked to sec commissioner gallagher, dan gallagher. he says this. this is going to get everybody in congress really blown away. he says it will take years to implement dodd-frank. he basically says they are less than halfway through writing the rules on dodd-frank. and the bottom line is, there is a good chance, as you know, paul volcker came out said the thing will be written i guess by july, right? three-year anniversary. he says no way. it is years and years away based on how far they have gotten an infighting the between the fed and sec what the rules should say. i say this to wall street. you think you will get a dodd-frank and volcker rule? you will not get the stroller rule for at least the next year. this is scary thing. you could write a rule and basically not implement it. maybe it looks like it will be implemented in its entirety not probably for couple years. lori: can banks take advantage of that through trading practices? >> i can tell you this from jpmorgan chase. they are interpreting it basically as they go. they are implementing wh

the sec handed down a $6 million fine. cboe has agreed to pay the fine and adjust its procedures. consumers now pay a yearly average of $225 in overdraft fees, and that's if they've signed up for overdraft protection. the fees have become a big source of revenue for the banks. the practice has caught the attention of the consumer financial protection bureau, which says the fee structure is abusive. last year alone, consumers paid out $32 billion in overdraft charges. in the movie "office space," the boss kept asking if employees could come in sunday. now, office workers are finding workspace designs sneaking into their homes - so they can work every day. our cover story explores that evolution at north america's biggest trade show for the commercial office. like it or not, we're bringing more work home, largely because the internet and everything we have that connects to it comes home with us. this award- winning piece, called the harbor work lounge from holland michigan company haworth, reflects that trend. "a lot of the trends are melding things between home and the office." eac

this is the first time the versus out sec resi privacy versus what post 9/11 means has come home. it's been about what about rendition, what about guantanamo. all of a sudden it's come here. it's our lives and they are going to store this stuff indefinitely. and i tell you one thing that gets me going is this high school dropout business. what the hell, the snobbery of this city. we defer and general flect before phd and graduate students like richard pearl. george bush was an mba from harvard. they took us into the worst war this country has entered in history and we're still paying for it. and we forget the fact that washington, d.c., lincoln, franklin and a lot of other great americans were high school dropouts. >> one person can do a lot of damage. , e thing about technology technology is a force multiplire for evil meaning that one person who has their hands on technology can do a lot of harm. >> how dows a high school dropout get access to this information? maybe i'm a snob. >> the dropout is irrelevant. the issue is did he have the training in the field? i understand he was

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you would be shoc wait a sec! i found our colors. we've made a decision. great, let's go get you set up... we need brushes. you should check out our workshops... push your color boundaries while staying well within your budget walls. i want to paint something else. more saving. more doing. that's the power of the the home depot. right now get $5 off one-gallon cans and $20 off five-gallon buckets of select paints and stains if you have high cholesterol, here's some information that may be worth looking into. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. getting to goal is important, especially if you have high cholesterol plus any of these risk factors because you could be at increased risk for plaque buildup in your arteries over time. and that's why when diet and exercise alone aren't enough to lower cholesterol i prescribe crestor. [ female announcer ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your do

. >> sec, with no discussion, that motion carries of the commissioners, is there any other new business? hearing none, this meeting is adjourned. [ gavel ]

wait a sec! i found our colors. we've made a decision. great, let's go get you set up... you need brushes... you should check out our workshops... push your color boundaries while staying well within your budget walls. i want to paint something else. more saving. more doing. that's the power of the home depot. glidden premium interior paint starts at a new lower price at $18.94 a gallon. >> good morning. the red sox came to town for four games. to digoles had a chance into the lead. the fans got to see this. chris davis, two-run shot to right. .is 23rd home run yesterday manny machado, an rbi single. lead.ore had a 5-0 and mistake from miguel gonzalez. 5-3. the bullpen would slam the door. jim johnson came on in the ninth inning. .e got saved number 25 the orioles take three of four from boston. this was supposed to be the united states open for phil mickelson. five previous times he came in second. this was supposed to be his time. it was supposed to be different. he had a one-shot lead to start the day. .he eagles from 7 6 yards out to even par. what a shot this was. he

"the voice"eason of comes to an end tonight wait a sec! i found our colors. we've made a decision. great, let's go get you set up... you need brushes... you should check out our workshops... push your color boundaries while staying well within your budget walls. i want to paint something else. more saving. more doing. that's the power of the home depot. glidden premium interior paint starts at a new lower price at $18.94 a gallon. >> good morning. sarah caldwell checking on your morning commute. would have a problem and have a we have a problem in havre de grace. check in the j.f.x. southbound. the northeast, at 56 miles per hour in the white marsh area. this is a live picture. 11 minutes on the north side. 12 minutes on the west side outer loop. southbound traffic looking heavier down towards 32. that is the latest on traffic pulse 11. >> thank you. in the see a haze traffic cameras. a lot of clouds as well. most of the sprinkles are not reaching the ground. eventually a chance for some thunderstorms into the afternoon. these are crossing through the mountains of west cork virgini

i have a friend who works for sec ron and cells lobby for alcohol and stores in other municipalities. station p raters don't make any money off the gas. it is a reality till we abolish cars, that we need gas stations and because of the way and the nature of that business has changed, there aren't a lot of revenue sources for profitability. the gas station owner has committed they're not going to sell alcohol. our proposal would not allow that, if there is only one parcel space, then the only people who would buy stuff at the convenience store because it wouldn't really be convenience to go to the convenience store. [speaker not understood]. there's one handicapped space and one regular parking space and that space ask often used by people coming out of the car wash drying off their car. ~ is often used i don't see it impacting local businesses there especially since a lot of times with 19th avenue, it's people who are driving. they notice they need gas, they'll stop and go to the gas station. i don't know that there's going to be -- maybe there will be some that will go just for the c