regard. there will be plenty at the sec who can go ahead and legitimately pursue any investigation or prosecution. theis own interest and interest of the american people as investors in the marketplace, they need to have faith and confidence and transparency. those are the hallmarks of a strong system. >> when you look at the math of the committee given it's a republican-controlled committee, we have seen where a nominee has not gone through it is this the type of nomination that could launch that type of political blockage? >> we will wait to see all of the answers. when i get my opportunity to question, i look forward to asking about enforcement actions. i am seriously concerned that the acting chair has diminished dramatically the subpoena powers of the critical staff of the sec. i am concerned that enforcement will not be the primary thought but the secondary thought. i am concerned about several writtenhat the law was and i was one of those who helped write it on dodd-frank that are not being enforced. we will see the totality of his answers and commitment to having that is fa

. right now, the latest in this timeline is the sec is set to approve or not, a bitcoin etf. talk to us about the states of this approval. eric: bitcoin -- it is huge. when the market opens up, it means a portal. getting bitcoin is not easy for the average person. how many average people want bitcoin? the stakes are interesting. bitcoin is this hot new currency , a crypto currency with a lot of media around it. the odds for and against it is evenly matched. there are possible regulations, it is not that liquid, security issues. it had a long history of opening these markets. china aexample is the shares which was approved before any u.s. had a quota. it is an overnight market and it was something that would have liquidity issues. that did fine. if you look at bond dts, this would be -- if you look at bond etf, this would be another -- it is an over-the-counter product that has 100% premiums. an etf is the best possible shot for structure to keep premiums down and give the retail investor a fair deal. do you want to give the retail investor a fair deal? julie: when is the sec going to

informed the sec it has been notified by the irs it owed $2 billion in additional taxes because of profits from the swiss unit. no charges have been filed. caterpillar says it is cooperating with investigators. and that is your bloomberg h, and we want to bring you a check of the markets -- iglobal macro movers said a to g 10, but for fun, let's set it to g 20. in japan, the nikkei is off. most of the indices, including the ftse 100 in the u.k., up .4%. closing in on 107. the south african rand stronger. when it comes to yields, germany's five-year was up almost eight basis points. the 10-year yield in the u.s. touched 260. still ahead, the first 100 days of the trump administration with david gura. this is bloomberg. ♪ from bloomberg world headquarters in new york i am david gura. welcome to bloomberg markets with a focus on politics and policy during president trump's first 100 days. president trump met with lawmakers as he continues to on the american health care act. from the ambassador who oversaw the treat -- trade portfolio. and president trump plans for $1 trillion of inf

waiting for a more complete, final version of the bill. see.r: lots of wait and , the judge says the sec has a plausible case of insider trading against leon cooperman. we will discuss that, next. this is bloomberg. ♪ oliver: this is "bloomberg markets." a judge in philadelphia said the sec has a plausible claim case against the founder of omega advisors, investor leon cooperman. they allege that the billionaire received $4 million in illegal profits. joining us is bloomberg's personal-finance reporter. we heard about this a while back and now, we are getting an update. >> the case essentially was filed in september by the fcc -- s.e.c.. one of the first steps yesterday was an early setback for him in the sense that the case could move forward. members of my team talked to mr. cooperman last evening and he passionately vowed to fight it and said he looks forward to proving his innocence in the trial. scarlet: cooperman was very aggressive in pushing back against these claims. >> exactly. a lot of hedge fund managers have over the years decided at certain points that they lost a lot of

that disrupt trade overall with mexico? what is it me for general motors? sec. ross: i am not a very theatening feature -- mexicans know the canadians know everyone knows times are different. we are going to have new trade relations with people. they all know they will have to make concessions. the only question is what is the magnitude and what is the forum of the concessions. i am told the president repeatedly has made my job a lot easier by softening up the adverse parties. what could be better than going into a negotiation where the fellow on the other side knows he has to make concessions? >> what is the time horizon now? when you expect negotiations to begin and how quickly would you like to get them resolved? ross: we are now in the early stages of the tpa process, the trade promotion authority. the so-called fast-track. that process by its nature has a couple months starting point before anything serious happens. you are talking probably the latter part of this year before real negotiations get underway. david: you know from your prior role as a successful investor that busin

? sec. gutierrez: the timing is novel. this is something done periodically from the commerce department. it takes the trade deficit and analyzes it. it will roll for the analysis country by country. -- 65% ofthe trade the trade deficit is china. what this means for the meeting is that itent xi will allow the president to stay at a high level. it is a relationship building meeting. it should not be a negotiation where they are getting into the details. the fact that we are doing this review will allow president trump to say i have a problem with the deficit. some of the big themes that he has talked about. we will get back to you with specific details after we do our review. becausethat is smart, with such little preparation, we can't expect the presidents to get into detail. to get to negotiating mode. administration is focused on the issue of enforcement. what grade would you give how we have enforced trade deals in recent years? the former u.s. trade representative said there were 20 something cases brought against china during the obama presidency. could the u.s. have done