atlantic city is family-friendly. we have a wonderful beach and boardwalk. so typically, we see a lot of families still coming to atlantic city as they always have. what we have is very inviting. >> atlantic city is starting to see a shift of more dollars spent now. neil: a lot of peple are in bankruptcy. but whats going on here? >> non-gaming revenues are up.

shopping, particularly, we have seen tremendous uptick. >> where they shopping? other shopping outlets and in the casinos >> at think it is a sense of freedom that has been developed over the years. neil tell my ten or 11 year-old. whatever you do. >> your tenner 11 euro will go to one of the children's pools around here. neil: and the other ten year old says the same thing you have to worry. >> not really. we did a study as to whether or t that model would scare away businesses. and it did not. it is very enticing. neil: okay.

by the way, you both should be heralded for having the least expensive more value breakfast than any place on the planet. you can eat like a king for $0.99. here.p spreading the good news. >> happy friday. money is next. ♪ >> i'm melissa francis, and here's what's "money" tonight. top executives accused of lying about the london will scandal. will it be the final straw that leads to a wider crackdo on banks? e former fdic chairman joins us excessively with her take. then, legendary analyst will give us his explicit insight on the fed rejecting capitol plans. the biggest banks may be more vulnerable to market shock and you think. and the big business. booze, gambling, sex, drugs, not just for a weekend in vegas. right with huge of virginities for investors.

we will bng you the top of ice picks from the best of the best. even when they say it's not, it's always about "money." ♪ melissa: all right. first ballistic a look at today's market moment. all good things must come to an end. the bear has finally landed a punch against the bulls. surprisingly large dip in consumer sentiment sector when that of the ral today. the dow snapped a 10-day winning streak. that was its long-distance 17 years. the nasdaq in the s&p 500 also fell modestly from their multi your eyes. >> what we see during this investigation is the evidence that is pylon risk, brokers@ limits, had losses to manipulated models, dodge

oversight, misinform the public. that is not what a lding bank should be doing. melissa: that just about sums up the atmosphere at today's london will hearing. top executives were grilled about allegations in a speeding senate report that says the nation's biggest bank completely ignored in turn red flags and manipulated documents to make things seem fine, all while it racked up trading losses that ultimately cost $6 billion. so here on what should happen now in a fox business exclusive, sheila bear, a former fdic chairman and operable by the horns. nice to have you back on the show. thank you for coming on. let's get right to it. you think that anyone learn anything n and significant as a result of today's hearing? has been a while. there has been a lot of meetings, discussions. me, do we learn anything new today? >> i think we learn more details. it was bad when it first came out. it was equally bad looking at it through court again today and

hearing. and, you know -- so i hope this will be a catalyst for much more aggressive regulatory action when it comes to regulating these very large institutions. one of the things i was surprised by in the report, the recommendations that were made in the report were pretty tame, calling for better reporting on its positions. clearly as strengthening of the volker rule, i think, is justified by this report. also, much stronger capital rules and stopping the practice of letting banks said basically their own capital requirements with their own models. i think one othe most shocking things about this was the way that chase manipulated the model to lower their regulatory capital. we kind of know that has been going on, but here it is. very well documented by the committee. currently letting banks drive their capital requirements with their own models. melissa: use a the elective the evidence that was laid up today and see clears things that should be happening differently.

is anyone else reacting that way? mean, does anyone else see this same thing? the tools in place to do something about it? >> well, the tools are there. the tools are being used, we had a big crisis in 2008. even then it was not the catalyst for the type of fundamental reform that we needed. this report is helpful. it is a reminder of the risk th these large banks oppose. tremendously complicated that they are, difficult they are for anybody to manage. it needs to translate into much more concrete regulatory action. we really have not seen that. >> you talk about how much fundamentally has not changed since the financial crisis. we had the ceo on this show a couple of weeks ago. let me play forou something that he sent you to react and the other side. >> we have a common interest in eliminating too big to fail. nothing anyone thinks he should have this concept. it really should look like a bankruptcy. we are in favor of that. we and the regulators and everyone working toward the

purpose. melissa: is everybody working toward the purpose? >> i hope so. i would say they have been one of the more supported banks of resolution of toward becoming meaningful resolution a party to make sure that we can take one of thesenstitutions down if they get into trouble in a way@ that does not expose the economy to rest in does not require a taxpayer bailout. i think that the tools are in place to do that. again, it is a matter of using those tools. there are couple of tngs that the regulators need to do. they need to have these banks to restructure themselves to make them simpler so that they are easier to break up. as a work in progress. they also need to force them to issue more long-term unsecured debthat would be available for lots -- loss absorption of four of them fails. the starter capitol requirements but we also need minimums for long-tm debt as well. and that would make them more resolvable and also, level the playing field between the cost and the smaller institutions. melissa: people walk around now and say to big to fail is alive

and well. nothing has really changed. to you agree? >> i think we are making progress. the rating agencies have downgraded some what the mega banks. they still get cheap funding when the go to the market. much cheaper than the smaller banks. we have made progress. my former agency has come forth with some very viable strategies for resolving these very large institutions, but the regulatory actions like higher capitol, minimum requirements for issuance of long-term debt, the need to complement that to really in his pernicious ctrine. so the tools are there. the path ishere. it is up to the regulators to use the tools, and so far there not been aggressive in using the melissa: always thoughtful, always revealing. thank you for coming on. >> happy to be here. melissa: it just was noo a great week. in addition to today's senate interrogation, yesterday the fed rejected its capital plan. it was not the only one. goldman also must improve

capital planning. meanwhile, 16 other banks get the go-ahead for a combined $30 billion a share buybacks. joining me now in another fox business exclusive, legendary banking analyst. great to have you back on the shelf. give me a reaction to what was to set. >> well, i think that the banks have massively overregulated. i think that they have a massive amount of excess capital. you have to go back to 1938 to find a year in which the capitol as a percentage of assets in the banking industry is as high as it is today. i also think that this whole concept of trying to break up banks is anti, if you will, global financial americanism or evyone to call it. who is j.p.? it's a c company which makes moe money than virtually any other company in the united states, no matt what the industry. only five companies in this country that make more money than j.p. morgan. it is the bank that makes the most money of any bank in the world, except for three, the three chinese banks.

so we're talking about a massively sucssful company, and all we're hearing is that it is too big to manage. what did people expect this company to do? melissa: after a slow you down because you just said about six dozen interesting things. let me start with the idea that you said that there messily -- massively overcapitalized. of course, the federal reserve system madden said they have to make a difference capital plan. i totally disagree with you. >> tatarstan some of the last 75 years banks have had less capital as a percentage of assets than they have today. that did not cause a massive problem in the u.s. economy. did not cause the breakdown of the financial system. for some reason, for 75 years these banks never needed, nor did the economy need to minority financial syst need for these banks to have more capital. melissa: to you think there adequately insulated from the shocknek that was one of the points the? yesterday. they said they are not adequately insulated. if you totally disagree. >>o, they're not.

i don't disagree. i think that this view the you can pass a series of laws and set up a series of regulations which turn around 700 years of economic history is the source of the problem. and in other words, you cant stop bank failures. you cannot stop financial crises. they will continue to occur. you can maybe moderate. melissa: more and more capital is not going to do the trick. what is the danger of folding too much capital? does it make them inefficient to mexico and the economy? >> first, you know, every major bank that failed was overcapitalized. according to the rules of the time. in other words, none of the banks that failed, washington mutual, national cit compass, none of these banks were judged at the time as having been undercapitalized. they were considered to be more than adequately capitalized. that tells you tt it is not capital that causes a bank to fail. it is a lack of cash flow. it is a lack of liquidity.

they don't talk about liquidity or cash flow, but that is what turns any company to fail. melissa: meahile, they have become the favorite whipping boy in washington. also, you know, for shareholders and some outsiders there has been this call from unions and others to break up the chairman and the ceo role. let me play for you what was said in reaction to that and you talk about money aside. let's listen. ♪ >> my board wants everyone equal. so we call the presiding director. at any point in time my board, there are 11 members, 16 fire me he's the chairman, the ceo, the dissected on director. as the wage should be. melissa: do you agree with them? do you tnk those rules should be broken up or you think he is just getting beaten again and again and again for this will think? >> no. additionally be broken up. you not agree with the chairman and the ceo should be the same person. even though i think that he is probably the best manager, close

to being the best measure of bank in the united states and i don't believe he should have both roles as chairman and ceo. i think there has to be regulation or banks both internally, which is supposedly the border directors and externally, which is all of these agencies that want to seek before 2008. melissa: all right. i wish we had more time. thank you for coming on. i hope he will come back soon. >> thank you. mmlissa: time now for today's fuel gauge report. president obama making a major policy address. proposing new energyecurity which he first outlined in last month's state of the union address. it would spend it $2 billion on research for electric natural gas and biofuel vehicles like we're already doing. it would be funded by federal rolties from offshore drilling rights north dakota oil prices are rare decline in january. output fell 4% from the previous month to 730,000 barrels per day. officials blame a series of brutal storms and subzero

temperatures for the production slowdown. and rally for natural gas futures shows no sign of letting up. have you been watching this? cold temperatures are fuelling unusually high natural gas demand for this time of year. natural-gas futures settled at a 4-month high today, up 11% just this month. keep your eye on the story. a lot of people watching natural gas right now. next on "money," over the last year the infamous vice fund raised the s&p. where will the bull's run next? the man who runs it is here to tell us. ♪ melissa: more "money" coming up. ♪

hey, travis... get some friends, loser!

so, are you all right, man? yeah. let me help you out. thanks. ♪ lean on me, ♪ when you're not strong, and i'll be your friend. ♪ see you around. yeah. ♪ i'll help you carry on... ♪ ♪ melissa: moving on to a fox business all day coverage of the business of vice, next guest runs a portfolio that is made up mostly of simple stocks like alcohols, aerospace, tobacco, and gaming. beating the s&p 500 of the past 12 months. jerry sulliva is the portfolio manager. welcome to the show.

a lot of people think of san stocks or vice funds as running counter to the economy. and the market. is that how it works? not really. >> well, mostf the tradition are not directly tied to the economy. tobacco tends to go down a little slower demopolis lower. so it is not -- >> some of them are recession-proof like alcohol and tobacco, but some of them, like damning, regular growth stocks. >> definitely. without a doubt of the economy turns, gaming. melissa: talk to me about your top five holdings and how you feel about these right now. austria and philip morris. i am surprised and these two in particular because are more americans quitting smoking? >> yes, but interestingly for the past 30-35 years, tobacco companies have been able to increase the price. more than compensating for the loss. somewhat --

melissa: it's like people are addicted to their product. >> and they are very brand loyal. melissa: okay. and you have las vegas sans as our number three pick. what you like that one? >>irst of all, they have great properties in las vegas. they are also owned -- on positions in mcallen in singapore. you get a little international in you is of the chinese investment. melissa: a people gambling more or less right now with unemployment high and, you know, the economy recovering a bit, but not that much. >> many of the stocks have done tremendously well over the past 12 months. so regionals have actually done better than the larger ones. and now with the jersey wh online gaming, that is going to definitely spur some more states to increase the latitude that the gaming companies can do. melissa: rounding out your top five holdings, and gm resorts, but it is interesting. i ask you to pick the top three

that you like right now that you would add. at the top of your list, one of your not in the top five. you going to add that your portfolio? >> well, 56 shades of johnny. johnnie walker. some brave brands. has 30 plus%. and st. patrick's day coming up, it has guinness. you're celebrating yuri fifth birthday in florida, you would have some. it is a great name, great distribution, and we have been increasing opposition to it. we have to hold large positions in tobacco because there is not as many names. melissa: will look at this chart, let the run the stock has been on. u.s. at year at this point. >> i would add some but use options against the tens marist. melissa: okay. las vegas since and austria are both in your portfolio andhere also two of your top three picks. would you add to his positions? >> definitely a las vegas since.

a great dividends. ateast from my experience witt the tobacco stocks, if you can get them when they strayed off a bit you have the dividend to protect you to some extent. and they always seem to do well. messa: if somebody is doing their own funds at home to minor you break it out. it is not even in quarters roughly between alcohol, defense, gaming, and tobacco. a lot of other vices out there. have you talked to mayor blumberg, almost everything is a vice. fatty foods, sugar. have you thought about doing more than those four categors? >> definitely with regard to marijuana, it is still illegal federally. but it is one of those questions that -- melissa: you could do matchbox, spensaries, all kinds of different ways to play. >> and tell -- i would say until it gets more broad reach it would definitely be something we would consider, but by that time i would not be shocked even the

tobacco companies time there would nevero it, they obviously have to have their special plan because ultimately you can imagine when they were someone with the medical marijuana can smoke it. if a person wants a cigarette the have to walk to new jersey. melissa: don't ask anything fatty? >> may be speaking of new jersey that might be something that the government like. melissa: thank you so much. thank you for coming on. careful with that. here is our question of the day. what do you think is the best buys to investing? sex and booze seem to be your top answers. we want to hear from more of you. like us on facebook. or follow me on twitter. all right. coming up, making bank on vice. where can investors make the next big plate? our cream of the crop panel gives as they're top picks next. plus, how to my on-line gambling craze, the ceo of one of the fastest rising companies in the field, and the chairman of

nevada's gaming control board joins us to handicap the industry's future. do you ever have to much "money" or send? ♪

♪ melissa: all day we have been bringing you the business of vice. if you are feeling devilish you may want to put your money into the san stock. we have the best companies to invest in, and we also know the ones you might want to steer clear of. here is our "money" power panel with there favorites into stocks . chief market strategist at united advisers, and we have the co-founder of max von's. okay. thank you for joining is. let me start with you. what is your topic right now that is sinful?

>> well, a lot of things out there, but their is a lot of things that are sinful that people use command that is what want to look at. cigarettes. look no further. a great dividend. a great correlated to the stock market which basically means that the stock market goes up, typically philip morris does as well you can also do another one, but it may be a little bit higher value than does not have as great of a dividend. then i also like mgm. march madss coming up. baseball season, the policie and as i am counting down, only a few months away. melissa: you like mgm? >> yes. i like mgm because i still to the people will be going to the casinos whether it is betting on sports are gambling at the slots. like those two areas. melissa: what do you think? >> i think the tobacco, is a s for some people. i think gambling i more save that smoking cigarettes. melissa: we are not here to the

pass judgment. we're here to make "money". >> i will state philip morris will eventually get cracked down upon by emerging markets as much as they did in the emerging markets, the futur tax liability, whatever. they buried in the litigation. melissa: and i is not compelling to you and all that the customers are addicted to their product. >> that is the only compelling thing about them. customers are addicted to starbucks and it does not have the reliability going forward. there are better addiction's out there. melissa: before you keep going, response to that this is the debate we're having all day. >> it's funny. i like him a lot. but the only thing that is holding it up. addiction is addiction. you guys know. walk outside and people are still smoking rather heavily. philip morris is making a lot of money of the cigarettes. the price is high because of taxes, but that is still a big profit center.

melissa: oy. so you don't like that. what do you like? >> i do think there has been a problem in the economy where the lower end of the economy has not been able to travel in a gamble. and overbuilding. mgm, las vegas has not come back folia from the recession. more of a direct play on that verses the other stocks that don't like what las vegas sands. that is kind of a boom economy that could crash. too much playing with the vip travel. i prefer with playing with the average gambler. in almost bankrupt stock, but a vigorous comeback, and that the key will have to, we will have to see that take off. melissa: of want to bring in david patrice, joining us now. i think we apologize, having some problems wi your huckabee at the beginning, but we're glad you could join us now. both of our guests were just saying that they want to invest in indian reserves and think

that is a good pick for our viewers. how you feel? >> i would stay away. in fact, i would stay away from resorts in total. my take was actually when resorts. with this recession discretionary consumer spending s dropped off considerably. corporations are not spending money for people to travel to have the conferences. used to be really profitable for some of these resorts. while other areas, other industries have been a bit more stable, the resources are doing well. melissa: i noticed that you like constellation brands. alcohol has been a winner of a long. what do you like a constellation? what you think that alcohol in general is a good pick? >> well, there are a couple of reasons. i do like it more than some other distillers, bruce, wind providers.

i would not necessaly recommend this sector, but if someone is determined tolay the game, then consolation is definitely want to look at. i like it because the debt levels are relatively low. they certainly are not over cumbersome. and i also like it because insiders are heavily invested in the company. there actually has not been a sale by an insider disclosed in the last six months which is really good. if insiders are invested, the outsider should be. melissa: i don't know if i can trust my list. >> you can always trust your list. i don't like it. and i also donnt like sam. sam boston beer company, the valuation versus some of the other ones. the valuation is gigantic. so another one that i would say people should be careful of. you know, just watch out. you have a lot of craft beers out there that people are getting into. a lot of people are branching out into smaller breweries melissa: we will leave it there.

thank you so much. good investing advice. coming up next on "money," online gambling fever is sweeping the u.s. you want to know how investors can get in on the action? the ceo of one of the biggest companies in the game and the chairman of nevada gaming control board will join us. plus, alcohol companies see dollar signs from a new marketing tactic. going from slick to slip this. all the details. piles of "money" coming up. ♪ this is $100,000. we asked total strangers to watch it for us. thank yoso much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a sanger, you need an ally. ally bank. your money needs an ally.

♪ melissa: all right. three states have legalized online gambling. if you don't live in new jersey, delaware, or nevada you can place a bet, so you will be cashing in anytime soon unless you looked up and across the pond because while the rest of the u.s. sold its cards, europe is taking the house. there are ways to make money in on-line gambling. you're about to learn how. joining me now, chairman of the neva state gaming control board. ceo of klum mobile, an online gaming company. let me start with you. the estimates are all over the board for how much online gambling could generate. $3 million in nevada. almost 4 million in delaware. new jersey is saying 850 million. white are you so low by comparison?

>> well, our interste or intrastate gaming has only looked at the players that we have currently licensed. and the figures are really apply in this guy based upon the state's population, which is to a half-million. then also to many visitors that come to las vegas or reno who wish to play poker, but i think that no one really knows for sure what those numbers are. i have seen estimates for the united states upwards of 400 million. melissa: what do you think about other states allowing it? ready we stand? how likely is it? it is such a game changer. >> all the states that already have casinos, land-based gaming are looking at right now. that is just a guess. we have been looking at it for over ten years. this has been a long process for us. of the 48 states that do have some form of gambling, whether tribal or casino resorts i'll gaming, they are looking at this base, this segment because, as you mentioned earlier, this has been something that has been going on in europe for long time.

melissa: speaking of that, obviously you are invest overseas. is part of that because you don't have high hopes for what will happen with on-line gambling? >> it is a case of ultimately getting your timing right. we do have high hopes for the u.s., but obviously this has been going a wle in places like the u.k. in a couple other countries and we want to make sure that we prove about the kinds of business models we will ultimately hopefully be able to employ in number of states, if not all over the u.s. and europe first. melissa: what are your plans like to invest? what is the time horizon like? are you pursuing that actively? >> absolutely. we are taking a multi pronged approach to thinking abo how the free to play gaming company can ultimately look to expand and fundamentally build games that i belve will have bigger, what we call, lifetime value per player. that is the opportunity we see

with real money mechanisms no matter which jurisdiction we're talking about. melissa: a lot of this depends on -- a lot of the success of the mall has to do with how you tax it. that is all western business. you know, a tax is a gambling license. i know it is half a million dollars to get a lense in nevadada. is that as the barrier to entry? >> we don't think it is a steel barrier to entry. what that is is for the resort casino that obtains the license. the other entities that command don't have to pay that. so the only fees that have to be paid by the operators, the casino resort and then the manufacturers or distributors which is a little bit less, that's it right now. our tax remains just as it is for land-baseddcasinos, six and three-quarters percent. melissa: do you think it would make sense to make that even lower toive more people into the game?

at least a first? >> well, we have a significant amount of market entrance right now. we have done over 13 licenses for the major operators, and those are the major players. i think what we have seen come anyone and everyone who will come into the market as far as the dtb your beach uc provider and operator. melissa: so would you say the people of getting involved? what is the best with do? >> well, there are a number of different approaches. we are hedging a little bit because we are never short exactly the timing or what forms of real money gambling will be allowed in games and what will be appropriate based on the kinds of audiences we have built ultimately i do believe that nevada will lead the charge probably. for companies like ourselves and looking at more than one mechanism of real money

experience. melissa: that is interesting because they are complementary as opposed to people thinking it is like self catalyzing the business. it is not true. it feeds on itself. thank you for joining us. we appciate your time. interesting stuff. our very own willis will be le from atlantic city, new jersey, for her show tonight. what do you have on tap? >> let me tell you. we are covering gambling, all aspects of it, all facets of a. a lot of investment going on. as you know, this very cassino was just remodeled. another investment, a $2 billion investment in the casino, it is going down the tubes in chapter 11. so lots of effort to rebuild this industry, to make it better. we will be talking all about that and have their gm of this casino on to talk about it. we will also be looking at on-line gambling and what that might mean here in new jersey, new jersey, the third state to art, and gbling. we will be covering all facets

of the story right here. melissa: very cool. i will be watching. coming upon "money", will a vodka martini straight up in the air relic? a brilliant scheme to win customers for life. a top marketing expert joins us to explain how they keep the cash rolli in. at the end of the day it's all about "money." ♪

♪ melissa: i like that music. very simple. we have been talking about the business of the eyes of a long. now it is well past 5:00, and it isriday. the perfect time to dive into the usiness of booze. companies are spending big bucks to keep you drinking and investing in their brands. here to tap into the nearest moons and alcohol, advertising to my favorite marketing group. welcome back to the show. >> a great way to spend a friday. melissa: it is. we are having a fantastic time today.

let's talk a little alcohol and advertising trends. there is a big move toward flavored liquor. is this about recruiting? dare i say, younger audience to back. >> make sure when you say younger audience uc lda. legal drinking age. follow the age of the drinkers, follow the shirt. young drinkers drink sweet. melissa: is working? are these the folks that typically spend a lot of money? >> if you look at most marketing products, they look for younger consumers because younger coumers spend more and also, american service establish there brand loyalty early. if you think back to when you first had a drinking probably drink something you know. you know sod. rum and coke. orange juice, a screwdriver. ose kinds of drinks were considered entry-level. now there are plenty of products that are sweet, syrupy, fuzzy,

bubbly, attract younger drinkers melissa: do you drink beer? and by kids and i mean, legal drinking age kids. we are talking about college people. i think they are really out there drinking flavored liqueur. melissa: it depends where you go and where they're buying the products. if they are on premise, if they are in bars him quite often there having drinks. melissa: another huge trend right now. die and alcohol. skinny girl. obviously just absolutely exploded. is this the future as well? >> absolutely. low-calorie is a huge business, one of the three trends. you're right. skinny girl, miami cocktail company. plenty of prepackaged and a premixed drink remember, a shot of alcohol, 65 calories no matter which one you choose. it is what else you add to it, the mixes, the fruits, the flavorings. some of those companies use fake

sugar, different kinds of additives, different formulations, but it is all about creating a product. melissa: making me very thirsty. based distiller earlier today and want to play you something from that. melissa: okay. >> right here we have new innovations. a lot of opportunity to take the basic product and work gate to gate different profiles. melissa: this is my question. alcohol is alcohol. do you really have to work at heart? don't people just want to buy alcohol for the obvious reason? >> well, it depds. when you do the research, especially with younger drinkers, what you find is they want to get loaded and one to get lucky. pretty much any alcohol you choose will do that. however,he alcohol industry's, immature market. people know what they drink. new people coming in and making those decisions.

psych the tv market. three channels plus public. then fox came along and you had four channels. now we have00 channels. each one is micra targeted to a very specific audience. liquor's of the same weight. five or six bottles of vodka, rum, jen, maybe tequila committee scotched. now you have so many bottles of vodka you needed duodecimal system to keep track of them. companies are trying to micro target to different. melissa: that want to be loaded in the want to get lucky. that is fantastic. going to make a t-shirt that says that. that is the best thing you ever said. thank you for coming and. >> have a great weekend. melissa: next on "money," they want to get loaded and lucky. almost a better state. of course. the new diet for the occasion. it just when you think downing alice knew it could. stick around for all the details. you can never have too much "money" or i guess to much

vodka. ♪ @a

♪ melissa: time for lower friday fine. today we're joined by a great team. are you guys feeling central? good job.

shore cast member promotes the vodka diet in time for st. patty's day. they were professionally created. they have nutritional value and design for a specific time of the day so you can literally drink all weekend long. i don't think you'll do it this year? >> not this year, maybe in a few months. i can rationalize a vodka diet. you drink it, stay up all night, hit the dance floor, burn calories, sleep until noon. you'll wake up skinny. >> you sound like you he experience. you talked about the schedule like it was a normal saturday night. >> the credit is vodka and red bull because you drink and don't get tired. shouldn't they use irish whiffs ky or warm ail? dka should be on may day in the russian revolution. >> the darker liquors have

calories; right? >> right. vodka should not be drunk on st. patrick's day. that's a cultural senseitivity. >> okay, all right. speaking of drinking, bars and clubs in california may bet a later last call. one state senator pushes to be serv until 4 # a.m. rather than the 2 a.m. cutoff that is too earl. he says it's a good business decision to make california competitive with other destinations. >> who knew california was such a bunch of pungs, 2 a.m.? that's edge -- embarrassing. in new york, we never sleep. >> you know way it is, though? their stock market opens at six in the morning when you compare to nine o'clock open time. >> you think traders drive it? >> 1 #% of the population. >> things are earlier there. when i travel there, you eat earlier. here's what my dad said, nothing good happens after midnight,

melissa, so don't care, it's not a good idea. >> he told that to you in high school which is true. >> it is, but don't you think the reason dinner is early is because the bars close at two? i think it's a qawz and effect relationship there. it's backwards. i think that's what it's about. it would be just healthier. here's one for march madness. a news show -- a they plan to bet more on the tournament than the super bowl and nearly a third of employees watch three or more hours of basketball at work. wht tournament is on. i don't know. what do you u think? dennis, are you in your office sitting there watching march madness? >> you know, i'm too busy keeping my polings on the market to think about that. >> you liar.