now you're looking at us. good morning, everyone. it is friday, november 18th. thank you so much for joining us. a winter wallop in western new york. say that. winter wallop. >> three times fast. >> buffalo could get buried in more than 60 inches of snow. >> we'll get into that. also a mass exodus under way right now at twitter. employees answering elon musk's ultimatum to work hard core or leave, and they're leaving. after clinching the majority just barely, house republicans are planning to investigate the biden family's business dealings when they take control in january. what cnn learned from one republican about their plans. the world cup about to begin in qatar but there won't be alcohol. this historic storm that could dump some five feet of snow in western new york.

buffalo is no stranger to snow but this storm could paralyze the city. they could see a months worth of snow in hours. new york's governor declared a state of emergency in 11 counties and all around, 6 million people are going to be impacted by this. let's go to chad myers for the latest. we're saying winter wallop and joking, this is no joke. this can be deadly and incredibly dangerous, right? >> right. you have zero visibility on many roads this morning. and so, most of the schools have been closed in the buffalo -- anywhere in the nigh ago a frontier. the main stream, the fire hose of snow is right here south of buffalo into hamburg, west seneca, down to lancaster. that's the area -- those are the areas picking up the heavy snow now. on the other side, upstate new york from lake ontario, it's

snowing in watertown. williamstown has already picked up 2 feet. this is not williamsville, this is near syracuse. but where the game would have been played already a foot and a half. lake effect snow warning still in effect. what's going to happen today? the wind is going to shuifts. the winds are south of buffalo, later tonight into tomorrow the winds shift farther to the north and buffalo, williamsville, tonawanda, you're in it. these are areas going to pick up 2 to 3 inches of snow in an hour. i guess we are going to see significant snow today, into tonight and the snow comes into buffalo as we work into tomorrow morning. there's a lot of buffalo around buffalo and a lot of people there. it finally ends during the day tomorrow into sunday.

but there's three additional feet. we've shown you numbers that are 20 inches, 20 inches plus another 36 you're up to 56 inches in these snow belt areas. dangerous stuff for these people. >> they know how to deal with it. we're wishing them well. they still get to watch the bills, just in detroit. let's go to harry inton with this morning's number. i would imagine, harry, it's going to be 60 because it's 60 inches of snow expected. is this the most on record? >> look, if you like snow, you love -- well, there we go. you love buffalo, new york. because take a look here. the biggest four day snowfalls at the buffalo international airport go back to 2001, 61 inches. all the top five spots on here are 3 feet of snow or more. so buffalo is used to the snow but get up to 5 feet headed towards the record since the 1943, '44 winter. lake effect snow in buffalo and

lake erie, lake ontario, this is something that happens frequently. how does this work? it's not a like low pressure system is riding up the eastern sea board like we're used to in the city. the cold air goes over the warm lake, erie in this case, the moisture gets transported to die lands and the bands can be really intense but narrow it's not like it's going from new york to boston on the east coast. it's a few miles. so snowing intensely in buffalo but in orchard park where the bills play, it could be sunny skies. i did go to weather camp that's why i'm qualified to make the slide. if you look at bad weather nfl game, the packers/cowboys, 1967, it was minus 13. the snowiest? it's unofficial but 8 to 9 inches fell during the bills versus the colts in 2017. watching that game, it was

blind. you couldn't see anything going on. weather so bad the game was moved. it's happened before, the bills versus the jets moved to detroit in 2014. what's going on with the bills moving to detroit this time around, that does happen. many people in western new york are worried about the buffalo bills. this game means a lot because the bills' chance of winning the super bowl is currently 12% bp with a win it goes up to 14%, with a loss it goes down to 7%. they may be cold but if the bills win, the folks in western new york will be willing to take the snow. guys? >> what's the viking's chance of winning the super bowl because we just beat the bills? >> weather campus in penn state, new york. the viking's chance is less than the bills. the chiefs have a better chanceover winning. if the vikings keep winning the chances go up. >> we're thinking about the people of buffalo in that area,

it's going to be very serious for them. thank you, harry. also this morning north korea has launched its second intercontinental ballistic missile. the launch is coming as vice president harris is in thailand for an economic summit. this sent officials scrambling as they have condemned the r regime's conduct. will ripley is live in thailand. despite the condemnations, north korea keeps launching the missiles. >> reporter: there's a reason for that. because the one that needs to be condemning them which would be xi jinping of china is remaining silent on this. china putting out a neutral statement as they always do when north korea continually violates united nations security council resolutions, they launched 50

intercontinental ballistic missile this year. even when you have vice president harris having the meeting and getting leaders to condemn the launch, frankly, china is the gate keeper. they're the ones that enforce sanctions or they don't. as much as the united nations tries to step up sanctions this year they haven't been able to get a unified statement out of the u.n. security council because china and russia have veto power. this launch traveled more than 437 miles up into space. they believe it proves it could reach any city in the mainland u.s. >> will ripley, thanks for that update. we'll monitor this as the white house is as well. twitter employees rejecting elon musk's hard core, that was his word, hard core work ultimatum and fleeing the company in droves.

musk's changes drawing not just scrutiny from critics on capitol hill really from everywhere. listen. >> i wasn't sure that he understood the role that twitter plays in our society. i wasn't sure that he understood that compared to rocket science, democracy is much more complicated. >> that is massachusetts senator ed markey. cnn's oliver darcy joins us with his reporting. i think everyone wants the buzz headlines, what is elon musk doing to twitter, can you believe this? it's unreal. the reality is the critical role it plays in the democracy and around the world, by the way, in other places where there are auta authoritarian regimes. >> this can disrupt communications for a lot of people. world leaders are on twitter and now death is in the air on twitter. yesterday, last night, the top

trend was r.i.p. twitter. because people can sense the platform is falling apart at the scenes. i was talking to a number of twitter employees yesterday, former and current, and they're wondering whether they can keep the lights on at the moment because of the mass exodus that occurred at the company yesterday. you saw droves, hundreds of employees seemingly resign their position because they didn't want to work hardcore as elon musk put it. the question now is whether they can keep basic functions online and whether they can keep the platform secure because there are a lot of important people, like the president, for instance, who use twitter to communicate to the world. >> everyone from the president down, you mentioned authoritarian countries, the simple question is what is going on here? >> elon musk is causing mayhem, that's the short answer of it. you remember a couple weeks ago they laid off about half of the staff, that was a big deal. they also had to get some of those people back onto the

company a few days later because they realized they needed those staff members to keep basic functions afloat. a couple days ago elon musk gave them this ultimatum. work hardcore, which seems to be sleeping at the office, or leave and get three months of severance. people were given a deadline of 5:00 p.m. yesterday they decided in droves, hundreds of employees, to resign from the company. so the whole workforce is depleted. >> when i say what the hell is going on, did he buy a company, he's a wealthy man, that he could not afford, that he does not understand, or that he did not want? do you understand -- >> i understand what you're saying. that's the question, right, don. what is he doing with this massive communications platform and massive company? i'm not sure i can get in elon musk's head but it's really causing a lot of disruption at twitter. >> you've been talking to

twitter employees, about what's happening, what they're being told. if you're someone who's an ally of elon's or view favorably he owns twitter now, the question is is there a strategy here? >> i think if you talk to people close to elon, they would say there is a strategy of course. he wants to improve the platform, disrupt it and create a subscription service, for instance. the problem is he's moving so fast, breaking everything in the process. there's something to be said about people who take risks, move fast, break things, but in this case he's just destroying the platform from the inside and alienated the entire workforce. this was a workforce that was tightly knit and they are really alienated from elon musk at this point to the point they're leaving the company in droves. >> people's livelihoods, and it's hard to get a job in tech now given the layoffs. i'm not sure how well move fast and break things have worked

out. from the originator of the quote, on down. oliver, thank you. >> appreciate it. in the meantime we're going to talk about what is happening in washington now. now that they'll take control of the house, republicans are aiming at president biden and his family. watch this. >> in the 118th congress this committee will evaluate the status of joe biden's relationship with his family's foreign partners and whether he is a president who is compromised or swayed by foreign dollars and influence. i want to be clear, this is an investigation of joe biden. and that's where the committee will focus in this next congress. james comer the top republican on the oversight committee telling cnn the committee will subpoena hunter biden but not the president. pamela brown is here, she spoke with him about the plans, she

joins us. good morning to you. what did comer tell you? >> clearly republicans are trying to rebrand this as the joe biden investigation not just the hunter biden investigation. i sat down with james comb comer, the incoming chairman of the oversight committee and told me the committee has no plans to subpoena joe biden. and he understands the challenges of investigating a sitting president as they try to tie him to his son's business dealings. if they don't give you the information, you would use subpoenas. but are there discussions to subpoena joe biden and/or his son, hunter biden? >> there's no plans to subpoena joe biden. there are plans to subpoena hunter biden. >> what does that timeline look like? >> if i were hunter biden, pam, i would want to come before my committee and prove my innocence. you know, 'cause i said some things today that we should be very concerning to hunter biden.

>> why would you not subpoena joe biden if it's all about joe biden. >> it's complicated to subpoena the president of the united states. >> it has been done. >> it has been done and the democrats sent out subpoenas like junk mail. >> reporter: so he claims he wants to be more disciplined with subpoenas. time will only tell if that will happen. we should note a spokesperson for the white house council's office for the biden white house said that this is a politically motivated attack chalked full of conspiracy theories. don? >> to that point, then, what's the there there? is there any there there? are these retribution for the democratic investigations into the president. >> i asked point blank is this settling the score because republicans were unhappy with what democrats did with donald trump? he said no. even if that hadn't happened this would be happen.

the midterms, it was all about inflation, economy, crime, this has nothing to do on that. so i requested is this what voters what? he said, look, 92% of the republican conference is not on the oversight committee so they're focused on those other issues clearly top of mind for voters and this will be a focus of the oversight committee and they'll be able to walk and chew gum at the same time so they'll look at other issues as well. >> the american people are dealing with a lot of things i'm not sure this is one of them. thank you. one thing that complicates those efforts is the small majority that republicans have in the house. former president barack obama is weighing in on the midterms and the outcome. he warned about threats to democracy on the campaign trail. last night speaking with trevor noah he praised his party for defeating a lot of election deniers. >> because of some really concerted efforts in a lot of important states. some of the most egregious,

prominent, and potentially dangerous election deniers, they got thumped. they got beat. and particularly in the secretary of state races and some cases governor races where the next presidential election you could have somebody who could really do some damage. there, i think, we held the line. >> joining us now to talk about the comments made by president obama is cnn's senior political analyst john avalon. >> good morning, guys. >> 2006 bush said it was a thumping. obama said it was a shellacking. and now he's saying that the election deniers themselves got thumped tuesday night. >> the thump is on the other foot in this midterm. what president obama was talking about in the interview and the conference his foundation put together is how we defend democracy. we see every day it's easy for politicians to get a lot of headlines by assaulting democracy, by undermining democracy. it's more difficult and more

important as citizens but also as civic leaders to focus on solutions to defending democracy. that's what this conference was about and frankly needs to be more about. but president obama in his speech did put forward some concrete ideas and that's a relief. we don't talk enough about solutions. >> seems like it was a dire warning about democracy. listen to this and then respond to it. >> what's being challenged are the foundational principles of democracy itself. the information to that all citizens have a right to freely participate in selecting who governs them. the notion that votes will be counted. and the party that gets more votes wins. that losers concede. that power is transferred peacefully. that the winners don't abuse the machinery of government to punish losers. and we're going to have to figure out how to live together or we will destroy each other. >> that's not a direct criticism

of his predecessor although he's done that. but for him, this has become a mission it feels like. >> should be a mission for all of us. look at what he laid out there, these are the common assumptions of what it means to live in a democracy. there's a peaceful transfer of power, all those things have been blown up in the last few years. so building it back is always more difficult and more important than destroying things which is easy. so that's why you have to bring the conversation as he did but frankly needs to lean in more about civic situeducation. >> civic education. >> why isn't that a key thing we teach our kids in school? it was that last line -- >> did you have civics? i had a civics class in high school? >> i think not. i'm old. the context of where we are now with our democracy. >> civics education got folded into social studies. >> yes.

that's it. that last line where he said we have to learn to live together or we will destroy each other, you're a student of history, you write so beautifully about it. how close are we do where we have been before? as he gives that warning. >> our country is still in a very dangerous place. let's not get too much false hope about fact that the election saw election deniers being thrown out. the fact that many were competitive on the ballot represents a threat in the next election. i think we all need to retain that sense of deep civic commitment to defend our democracy across partisan lines that's a basic obligations but we have to focus on specific solutions to do it. that's where we need to roll up our sleeves and not afraid. it's civic education, election reforms, you change the rules, you change the game. and ranked choice voting. and look what republicans are going to be facing now with winner take all primaries. there needs to be a conversation about that.

>> you're pushing back against so much misinformation. >> we are. >> even if you tell people what something is they don't want to believe. >> isn't that the great opportunity and obligation of journalism. >> i hope that somebody is listening. get your wonk on. >> get your wonk on. we're in a good place to fight disinformation. next we'll take you to doha, qatar, what they just banned at the world cup. >> reporter: i'm david culver, we'll bring you to the u.s./mexico border where i'm going to show you coming up how a u.s. federal judge's ruling is now motivating many of these migrants who are camped out here to cross over to that side into the u.s.

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well, we fell in love through gaming. but now the internet lags and it throws the whole thing off. when did you first discover this lag? i signed us up for t-mobile home internet. ugh! but, we found other interests. i guess we have. [both] finch! let's go! oh yeah! it's not the same. what could you do to solve the problem? we could get xfinity? that's actually super adult of you to suggest. i can't wait to squad up. i love it when you talk nerdy to me. guy, guys, guys, we're still in session. and i don't know what the heck you're talking about.

all eyes are on qatar ahead of sunday's fifa world cup kickoff. expectations are high by the build up is tainted by controversy over the country's record of human rights abuses, including against women, foreign workers, and lgbtq people. let's bring in amanda davies, live for us in qatar. take us behind the scenes, what's happening here? >> reporter: well, don, i have to say another day, another headline. on a different level to human rights abuses. but one that isn't going to win qatar any fans from certain parts of the world you suspect the announcement that alcoholic beer will not be sold in stadiums at matches, despite the fact budweiser is one of the top tier sponsors.

qatar has increasingly, in recent months, put out the message that this first world cup in the middle east, everyone is welcome, respect our culture, but we are doing this on our terms. the teams for their part have many of them decided to fight this battle on and off the pitch. the u.s. men's national team coach and his players displaying the rainbow logo at the training camp. they've had a kick about with some of the migrant workers. they say they're going to live by their slogan, play by their slogan, be the change. >> thank you very much. this morning fear and confusion on the u.s. southern border after a federal judge ruled to block u.s. authorities from using title 42, that is the trump-era law used during covid to turn away migrants seeking asylum at the southern border. more than a million migrants have been expelled under this

policy. let's go to david culver in mexico across from el paso. it's important you're there, david because the question is what does this mean actually for those migrants? >> reporter: the same question, poppy, that many of these migrants have been asking us. there is so much confusion, a lot of uncertainty, and they have been camped out here, some for several weeks. they've been traveling from their origin countries, many the vast majority from venezuela, which is dealing with a huge humanitarian crisis now and making their way here the past several months. this is where hundreds of tents are set up behind me and you can see over there, that's the border, that's el paso. they have been hearing trickling out of the u.s. some of the news about the u.s. federal judge's ruling. the problem is, the fine print isn't coming across here and that states that the policy is still in effect for another five weeks. meaning, the folks who have been

going over, there has been a steady surge, we can show you the video we captured yesterday, a lot of families, people who have said perhaps this is now their time to be able to enter the u.s. illegally, they're going with a lot of false hope and confusion that perhaps this policy is no longer in place. but it is. and so, what happens once they get to the other side? well, depends who you ask p p it's a case by case basis. it's determined on the individual and some individuals have said they've been managing to get through. we know that with migrants who have been in touch with family and friends who say their loved ones have been successful. others ended up back on a bus, if they're lucky dropped off back here, but others even though they started here have been taken to places much farther away, cities that are far more dangerous and that's been their concern. from the u.s. side of thing, department of homeland security said they're stepping up resources, they expected this to

happen, they anticipate to handle the influx which could be as many as 18,000 people a day. it's going to be overwhelming. >> and the federal judge overturning this saying when this was done it was arbitrary but still things don't change for these folks for five weeks. david, thank you for showing us what it actually means. up next what the former first lady, michelle obama kept her from wearing her natural hair while at the house. hair while at the white house. what is annoyed. jeopardy fans are calling out the show for recent clues, including one that left them appalled. needed it most. but there is still work to bee done. thank you, claire. ththis year, we'd like to invie you back to jersey mike's for another special weekend. come in this saturday and sunday, where 20% of all sales

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♪ you know that music. if you're a fan of "jeopardy". who isn't? you might have been a little miffed about wednesday's final clue. ♪ >> paul's letter to them is the new testament with the most old

testament quoations. 30 seconds, good luck. >> who are the he brews? yes, paul quoted the old testament. >> the response who are the hebrews was deemed correct but is it actually? that is the heated debate among scholars. some believe it might be who are the romans. this isn't the first time the jeopardy clue has been criticized. not even this week. a clue on sunday featured a clue on gabby petito. >> what are alligators? >> yes. >> what? >> insensitive, tasteless, wrong. that's what several viewers thought of that question and answer. remember back in 2021, jeopardy apologized for using outdated and inaccurate information about

debilitating medical condition. and earlier this month, it wasn't the clue that raised eyebrows, it was the moment that followed. this moment. >> she's the first black woman on the supreme court and the first justice to have been a federal public defender. >> that's justice jackson. ketanji brown jackson. >> i don't think that's surprising. >> these are smart people. when you go on "jeopardy". >> she was just confirmed. been in the news. >> if you're standing outside of a mall and people may not know, they do the man on the street thing. but when you're smart enough to be a contestant on "jeopardy". listen, there's a lot of talk around this one as well. the former first lady, michelle

obama revealing she considered wearing her natural hair and braids during her time at the white house but decided that americans weren't ready for her natural black hair. listen to the former first lady. >> as black women we deal with it, the whole thing about do you show up with your natural hair. braids, y'all. you know, but what -- you know, as first lady, i did not wear braids. being the first -- yeah, we had to ease up on the people. i thought about it. i was like, it would be easier. nope, nope. they're not ready. >> the former first lady said she kept her hair striaight so her husband's administration could focus on other issues, and not her hair. the obamas were cognizant of how much attention was paid to how they looked and how they acted because they were black.

they also knew how powerful representation was and still is. so like this moment, this was in 2009, when a young black boy, reached up to touch the president's hair. >> i think this picture embodied one of the hopes that i have had when i first started running for office. young people, particularly african american people, people of color, outsiders, folks who maybe didn't always feel like they belonged, they look at themselves differently to see the person who looked like them in the oval office. it would speak to black kids and latino kids, gay kids, young girls. they could see the world open up for them. let's talk about this now. cnn contributor and host of "naked with carry champion" joins us. hello to you.

it's a thing for us, this whole hair thing. i struggled with it as a kid. i used to process my hair, the blowout, if you remember that, i don't do it anymore. this is my hair. but especially for black women it's a thing. so getting jobs, perception, and so on, so you dealt with that i'm sure with your career and in your personal life over the years, you relate to what michelle obama is saying? >> this is why we love michelle. because very much like what the president said when that little kid reached out to touch his hair he could relate to who he was. what's happening every day. when i hear michelle say things that relate to me and the life i lived. when i decided i wanted to be in tv, don. i was told in no uncertain terms, by the news director who hired me, how will you wear your hear? i remember it like it was yesterday, it was in 2000, it was in west virginia, and i'm like, wow, i'm going to wear my

hair how i wear my hair, which is natural. this is not my hair. but my hair, if you wash it, it looks like it could be tex textureized. you know how it is. people call it kinky, whatever you want to call it. sometimes america, especially for black women, has made us feel our hair is unacceptable. so we straighten, perm it. this isn't a unit, this isn't my hair, i'm not fooling anybody. but this has been more acceptable. and sadly i've given into that in many ways. much like what michelle obama said. she's like the administration isn't ready. really? it's just so sad, it really is. >> can i share something that we talked about last night when we spoke on the phone. >> sure. please, yes. >> i called kerry and i wanted her to do the segment because i know that she's dealt with this,

i said would you wear your natural hair. but it's a whole thing. it's expensive, you have to undo a lot of things. >> yes. >> but also, do you want people to see you that way? is that uncomfortable for you? >> yes. don called me, ladies, he called me and he was like, i have an idea and he explained what he wanted, i paused for a second, like is he serious right now? wait. don't you remember when so and so did it -- >> tamara did it on the today show years ago, yeah. >> i was like, i don't recall. i think i do now, i went back to look it up, okay. underneath my hair is braids. my hair is braided all the way back, underneath this hair is my hair braided all the way back. i've taken my hair -- literally taken my hair off in the makeup room at work and you can see everyone look, what's happening? it's like they're shocked. like it's disbelief. and then the whole can i touch

your hair if you're not black, so -- it's so draining poppy, i know you know what i'm saying. in the sense that -- >> i do. >> and so i told don, no. i was terrified. i don't want to be a meme. i was so -- it is like i was so terrified at the thought of someone seeing me in my natural hair and i'm a grown woman. that is so sad. >> you're not alone. i have fake little clip ins that i wear every day. and don sees my fake hair in the makeup room. >> i want some. >> hold on. i don't want to equate. that is not to say it is nowhere near what black women have gone through with their hair. i'm trying to tell you, i hear you, i feel sometimes like -- i don't know. like i have to put it on for some reason. and i'll just tell you, siena comes home from school now and one of our favorite books is

hair love, i recommend every parent read this with her kids. she said to me, when she learned about -- like ask permission to touch other people's hair. learning about respect. >> the thing about that, though, don tell me how you feel about it, i would never ask to touch anybody's hair. i wouldn't. i'm not fascinated to walk up to you poppy and touch your -- or i wouldn't want to walk up to my colleague that isn't black and touch their hair. the fact that black women are treated like exhibits in a museum, for lack of a better word, it really is -- every time that happens we're in our minds here we go again. >> we did often our kids are being taught the wrong lesson now. >> absolutely. teach your kid we have different texture hair, it's the same thing. it still grows. may not be as long, as blond naturally. if you notice that someone's

hair may not seem like it's their hair, please don't ask what is that on your head. how do you wear your hair? everyone wears extensions. for some reason when black women wear extensions, it's like everyone stop and take a look at this person who is an exhibit, they have long hair. why is that? none of that should be a conversation. there's a song, do not touch my hair. literally, built on the fact that that's what women have dealt with, black women specifically. >> i wanted to -- can i -- >> it's powerful to hear you talk about your conversation with don saying you're a grown woman and this is how you felt. that's why i think we're seeing michelle obama be so candid and hearing her talk about being first lady and she was worried about that. it opens up the conversation for young women now to be able to talk about that and think about it and acknowledge it differently, publicly. >> i will say this, you make a great point about that.

there are a lot of young women on tv now wearing their natural hair. and they have gone viral for wearing their natural hair which is to me, two things, one, bold, i'm not ready to do that, for her to do that is bold. but it's also why am i going viral for wearing my own hair? i need you to understand how this is and why we are sitting here being fascinated that it took michelle obama to tell us don't look at my hair as if it's weird. >> cari quick because we have to run. if you can do it quick, this is a lightning round. >> go. >> do you think it would be okay now for -- five years out of the white house. do you think it would be okay now for her to wear her natural hair? >> absolutely. >> you think it would be fine? >> absolutely. >> okay. >> i hope she does. and then i'll do the same. don, i appreciate you being honest. >> the other thing is, can we start -- look, i'm a man, i'm sure people are going to get mad

at me. i like natural hair. my nieces do the same thing, they braid their hair up and do the system and whatever. especially if they come visit we're going to be at the beach, they braid. i like natural hair, can we bring that back? can we bring back the power? >> you know what, don, you just challenged me, i'm not saying when i'm going to do it because i got to really sit with it, i'm terrified, like i mentioned. but why not? i'm pretty i can wear my natural hair. >> you're gorgeous. >> i remember pam greer and coffee and cleopatra jones, the afro was beautiful. get used to it people. >> my mother wore an afro. >> let me start it. let me be game. thank you for letting me come on. >> that's why we love you so much. >> i'm not speaking for you, i'm saying this is me.

wear your hair however you want, it's easier i know if you braid it and put it up. i think natural hair is beautiful. >> what a gift she is. >> thank you so much. we have to talk about this, so how bad are things at crypto company ftx, turns out the new ceo can't even figure that out. we'll be joined by a former regulator that's next. >> the latest move from ticketmaster that has taylor swift fans furious this morning. the amount of gaslighting that ticketmaster does. >> the website just crashed -- >> it went down again! ♪

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well, we fell in love through gaming. but now the internet lags and it throws the whole thing off. when did you first discover this lag? i signed us up for t-mobile home internet. ugh! but, we found other interests. i guess we have. [both] finch! let's go! oh yeah! it's not the same. what could you do to solve the problem? we could get xfinity? that's actually super adult of you to suggest. i can't wait to squad up. i love it when you talk nerdy to me. guy, guys, guys, we're still in session. and i don't know what the heck you're talking about. ♪ it's not entirely clear who's actually getting the money and what's being done with the money. yeah, it begins to

>> it's not entirely clear who's been getting the money. >> the probability that it all goes to zero and disappears. you raised it there. >> the question has always been what problem does crypto solve and we still haven't gotten an answer to that. >> good morning authorities have now seized control of digital assets held by the bankrupt crypto exchange in the bahamas. they're going to transfer that to a wallet for safe keeping. this comes as the newly appointed ceo of ftx is not mincing words calling it a complete failure with such bad record keeping they can't tell money the company has.

this comes sheila, i just wonder what you make of all of this. every day it seems like the developments get crazier. i know you've likened it to a madoff situation. what do you think about all of this? >> back to the comments, i think regulation would have made the situation a lot better. hopefully this helps prove the value of regulation and supervisory oversight. clearly this institution did not have any of that, any meaningful oversight. so i think it's sad. we don't know, there will be investigations, but it certainly looks like fraud, looks like a potential ponzi scheme, using new investors money to pay off old investors, creating

too-good-to-be-true investigations, which it frustrates me investors are always falling for, even though we've seen this show several times before. i do think it's a wake-up call for regulators to start being more aggressive, use their current authorities. there isn't regulatory authority around the crypto markets and there needs to be because a lot of people are getting hurt. it would be nice to have legislation but i don't see congress acting any time soon. they need to start working as a group to have better policing of the market. >> the facts, she'lila, the ftc- the fact that he said "f the regulators, they don't protect consumers at all," there's a lot of finger pointing. it does not appear it will be

regulation any time soon. so then what? >> look, i do think you need to distinguish the different types of crypto. there are some stable coins backed one for one by real money. they put themselves out as having stable value, but most crypto is highly volatile. it's more in the nature of an equity investment or commodity investment. there's a big debate about what it is. i think it would be helpful for the f it tc and -- ftc and i think a joint statement from them would be really helpful.

at the state level, a federal presence would be helpful. congress also competes for jurisdiction and that impedes the ability to act quickly when you have a new asset class that doesn't easily fit in any particular category. >> it's scary what's happening. >> we appreciate you joining us. have a good weekend. >> thanks for having me. >> we'll take you live to twitter amid the mass exodus. what the hell is going on there? >> and we take you to the rock 'n' roll hall of fame induction ceremony. >> did i say i love annie lennon? >> h her voice is iconic. ♪ some of them want to abuse you ♪

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we are really, really happy to have you this morning. by the way, look at that. we're going to tell you about what's on that wall right there. >> wow. >> i'm happy to not be in buffalo this morning. >> got some. an historic lake-effect snowstorm hitting western new york. it could bury buffalo in more than five feet of snow. we are on the ground for you. >> also, in washington speaker of the house nancy pelosi passing the torch. she is step beping down after a legendary run as speaker. we'll talk about her party, her legacy and what the party looks like going forward. >> and thanks but no