miles an hour. still winds, but clearer patches. primarily north and east of where the debris field is. in terms of timing and when they'll be able to go out. they're 12 hours ahead of us. when we hit 6:20 here, 6:20 in the morning there. better visibility, but conditions deteriorate toward the end of the weekend and early next week. >> thanks for the update. that is all for now. i will see you back here tomorrow at 4:00 p.m. eastern. the ed show is next. good evening, welcome to the ed show live from new york. let's get to work. >> we are following some breaking news out of the coast of australia. >> prime minister tony abbott announced what could be a break through. >> whitish objects on or just under the surface of the indian ocean. >> they could have moved any

direction. >> an aircraft will find an object if it is findable. >> retrieving those objects will not be easy. >> 17 days until the batteries on those underwater locating pingers run out. >> this is the best possible lead they have. >> but they can't be certain it's part of the jet. they can't until they get down there. >> how do they try to confirm that information? >> this story is about the 239 souls on board. >> we are pulling every single lead. >> relatives hanging on every word. thrjts time i just hope that it is positive. >> good to have you with us tonight, folks. thanks for watch. we begin the show with the latest on the aircraft. there are now developments in the search for the missing malaysian airlines flight number 370. australian officials say they spotted two objects on satellite that could be from the missing aircraft off the coast of perth, australia. at this point, it's unknown if

the objects are from the boeing 777. the search has been suspended overnight, but it's expected to resume within this hour. now, one object is roughly 79 feet long. the other is 17 feet long. picked up on satellite. now, it's really the best lead in the search for the plane since it went missing 13 days ago. steve of nbc news has the latest. >> reporter: the theory of aviation investigators in washington seems to be validated by the just-revealed but four-day old satellite images that appear to show two big pieces of a an airliner on the indian ocean. american investigators calculated they took the southern route after it turned, and the boeing 777's communications were purposely turned off. the malaysian government called the photos a credible lead. >> it must be stressed that these sightings, while credible, are still to be confirmed.

>> reporter: and at first light, where it's friday, u.s. and australian teams head back out. the goal was to find floating pieces of the airliner, calculate how far they drifted in the 12 days since it disappeared, and send probes to the ocean floor for the cockpit data recorder and the main wreckage. john cox told me, recover them, and the mystery will end. >> i believe we'll solve fd it will be with the recorders. put it together, we'll solve it. >> reporter: the satellite images upset some flight 370 family members. but the mother of the american passenger, philip woods says she's calm. >> whatever the end of this is, we have a deep faith in god and we're -- we will be relieved to find out. for sure. >> reporter: the first step could be locating the pieces of the plane. if that's what they are.

floating in the vast indian ocean. >> you can just imagine the anguish the families are going through. investigators were able to narrow satellite signals from the plane creating two possible search paths. the new search area is roughly 1500 miles southwest of perth, australia. it's out there. four military aircraft, an australian navy ship and a norwegian car-carrying freighter have been dispatched to the area. the aircraft consistent of two p-3 orient surveillance planes, a united states p-8 poseidon intelligence plane and a c-130 hercules that will drop buoys into the ocean to track the currents of the water. now the norwegian vessel was the first ship to arrive on the scene. this ship is currently searching for that debris. and, of course, this area of the southern indian ocean is extremely dangerous. it's deep, rough water.

the search area depth ranges from 9800 feet to 16,000 feet. almost amazing to think that we could be able to recover something if this is the plane. last night there were ten foot assess in the area. seas are expected to increase to over 10 to 20 feet over the next day. if there are any new developments, obviously, in this hour, we will bring them to you. but how do you feel about this? get your cell phones out. i want to know how you feel about what this latest development is. do you believe this is the plane? text a for yes, text b for no to 67622. you can go to the blog at ed.msnbc.com. and i want to bring in cary walsh from global diving and salvage. i appreciate your time. >> you bet. >> give us an idea of how hard

it is to retrieve something from the bottom of the ocean if we're dealing with depths beyond 10,000 feet. >> well, ed, the first order of business is locating the debris. assuming this floating debris is from the airplane. and some of my peers have speculated that it's not just based on the fuzzy images we have seen. they may be iso containers lost overboard from a ship. shu should it prove to be true, they have to do a backtrack and the set and drift calculations to find out where the debris originated. go back to that location, and the basic tools to locate it will be a side scan sonar towed from a ship. towed a distance off the bottom with a search pattern similar to mowing your lawn, going back and forth with a side scan.

taking swaths a little less than 1 kilometer wide. if they spot something, they will get a closer look. once identified, they have to come up for a plan for recovery. >> and that of course in ten to 20 foot seas would be hard to do. give us an idea how hard it is operating in those conditions? >> the side scan sonar wouldn't be hard at all hang on and deal with the seasick crew. it would be stable underwater. the crew would be watches the monitors and looking for things. once you saw the spread of the debris and the pieces and sizes that had to be recovered, you would go back to the drawing board and assemble the resources you would need to do it correctly and expeditiously. >> 1500 miles offshore, if this is the aircraft. what do you think want chances

of recovering the black box could be? would a camera go down there to give you an idea of what you're dealing with? >> yeah. once you've located the debris field, the next step would be to send down a remote activated vehicle with low-light cameras, manipulators. go in and move things around. depending on on what they found and what the size of the debris would be. you could dissect that and recover the box. >> i don't want to put words in your mouth, but how confident are you that if the debris field is found on the bottom of the ocean that the black box would be recovered? >> i think that if they find the debris field, that the box will be recovered for sure. with the tools that we have available in our tool kits, we are pretty confident that you're going to be able to go down and

recover the black box and the airplane itself. >> i know it's hard to speculate. so much of this is speculation and trying to figure out exactly what happened. and that's the fascination of it all. do you think this is the plane? and i know it's hard to come to render any kind of judgment off a couple of satellite images. >> i really don't know. i think that it's interesting that it tracks with the protected ntsb flight paths. but these images were taken days ago. you would have to see a set and drift calculation to see where they impacted and began to drift. i think it's speculative at this point. i don't know. i hope it is. >> the other thing about these drift patterns that you're talking about, can you get it down into a narrow area and how precise can that be when you get

information on the drift patterns? >> well, i think that with the tools we have, the satellite images and the data buoys out there and i'm not familiar with the roaring 40s, but the set and drift information should be backward traceable to put it into a pretty close area, i would assume. >> i appreciate your time tonight. thanks for joining us on the ed show. and now to military-trained attorney daniel rose. and tom, the author of soar, the break through treatment for fear of flying. mr. rose, your assessment of today's developments? >> unfortunately i think it still leaves us in pretty much the same place we were yesterday. and that is, even assuming that you have located parts of the plane, that's not a positive fact if anything. ultimately what we to want know

is what caused the crash, where's the plane, what caused the crash? it'd be great if it turned out to be part of the plane. first and foremost for the families, some kind of closure. as you pointed out, this is a terrible, horrific and anguishing eventually. it will eliminate that the hijacking that it's in a secret location or used again. and help us get to the bottom of what happened. but the part itself, i don't think, assuming it is part of the aircraft, will help us understand whether it was deliberate or mechanical. >> captain, let's assume that this is the aircraft. it would lead me to believe that the pilots were incapacitated. that this aircraft would fly so long, or it would be a highly unusual suicide mission. it strikes me as very hard to believe that if someone was going to doed is they would have

that joyride like that. the two times we have had pilot suicides, that was not the case. it happened quickly. >> do you have any reservation about the aircraft flying that far with the fuel that it had to your knowledge? >> well, yeah. the plane could fly that far, that's not a problem. the question is, of course, did we come up with -- the right place to look? that still is not completely clear. >> if this is not plane, where does it leave us, do you think? >> we're -- >> back to square one? >> yeah. just as daniel just said, we're back to square one. >> daniel, your thoughts if this is not part of the debris field? >> clearly. i think there's a reason we're looking down south. it seems to make more sense. you had to turn back towards the south, assuming it's some kind of incapacitation, whether mechanically or deliberatery induced. you have to assume the plane continue on that path.

combined with the fact nobody's seen it up north, no radars tracked it up north. that's a big part of the world. a lot of water there. >> what about the durability and longevity of the black box? there's a lot of speculation about what would be collected on this black box and its survivability and what you can actually get out of it? is there a life expectancy to what we can get out of the black box? >> first and foremost, there's a life expectancy as to the pingers that's going to help u.s. find it, that's about 30 days. but the next timeline you have to deal with is the fact that the cockpit voice recorder is only going to record, you know, half an hour back, which is probably not going to give us a whole lot of insight to kwhapd four or five hours earlier. and the dfdr, the flight data recorder, the other black box, is limited in what it's going to record timewise.

i think -- i don't suspect unless it takes years and years to find it that the data will be compromised. but how useful is it going to be in figuring out what happened? it's the best evidence, but maybe limited. >> tom, what about the elt? >> we haven't heard anything from the elt. if the elt gets dropped in the water, it's supposed to start up. >> that's an electronic locating transm transmitter. when there's an impact, it sends off a signal. >> we didn't get it. that's why it's such a mystery. >> well, this is something that hasn't been discussed. the elt, this is in every aircraft. and when there is an an bankrupt stoppage of the fuselage, by faa requirement, every plane has to have an elt. how sophisticated is the elt on this aircraft, and what does it tell you if we never got an elt

signal? >> i don't know. it seems to me that if the plane hit the water, and the elt was free enough that it could activate, and the transmitter antenay would get the signal out there, it should work. once again, this is another thing. we don't know why that elt is not giving out that signal that other airplanes could pick up. >> and to my knowledge, the elt cannot be disarmed or disabled by the pilot. >> that's a separate -- it's a separate, self-contained unit. >> that is the mystery i think of a lot of this. daniel, what do you think? >> no, i agree. again, you have to remember, it's like any other device, it has a limited range. you're not going to marhear it everywhere. >> but if you have an intelligence aircraft in the area, and that elt, would it be going after two weeks? >> maybe. the other point, maybe the impact with the water was not that an bankrupt.

>> maybe -- >> maybe it was a glide, maybe controlled. even if it wasn't, even if it was somewhat of a glide in, may not have triggered it. >> great to have you gentlemen with us tonight. thanks so much. remember to answer tonight's question at the bottom of the screen. share your thoughts on facebook and twitter. coming up, manufacturing and the economy's backbone, bad trade deems can have huge consequences. in lorraine, ohio, when the steel industry suffers, the entire community braces for the impact. more from our series still ahead. but first, john boehner rejects the senate's plan for extending unemployment insurance. we need it right away! we cannot let the fans down.

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. time now for the trenders, social media action. this is where you can keep up with us. facebook.com/ed show, twitter.com/ed show. on the radio noon to 3:00 p.m. on channel 127, sirius xm. you can get my radio pod cast at we got ed.com. here are the top trenders voted on by you. >> that man is headed straight for the black hole. >> the number three, the whole story. >> what was something fully that we don't understand? >> i don't get it. >> noah said what can you say, a black hole, bermuda triangle. >> the latest malaysia airplane theory is full of holes. >> it's outrageous, preposterous. >> a small black hole would suck in the entire universe.

i think it's wonderful that the whole world is trying to help. >> the number two trender, pick perfect. >> march madness, an american distraction. >> a bracket is a bunch of lines that all kind of come together in the middle. >> upping the anty with the quicken loans billion dollar bracket challenge. >> warren buffett offers a big reward for the perfect march madness bracket. >> he did have to make a calculation into probability the. there's no right answer. >> he hasn't got to where he is by making foolish risks. this isn't one of them. >> a billion dollars, what would you do? >> i'm sure somebody would ask me to pay down the debt. >> nothing but net. >> and today's top trender, unimpressed. >> house republicans undermined unemployment benefits yet again. >> the house republicans have painted themselves into the far extreme. >> house speaker john boehner turned down senate legislation

to extend unemployment benefits. >> john boehner says the senate unemployment compromise will not pass in the house. >> each week, 70,000 more lose their benefits. >> failing to extend unemployment insurance is hurting families, it's hurting businesses, it's hurting our communities. >> before the end of the year, it will be millions. >> it's gotten to the point of scandalous, certainly immoral. >> joining me, former governor of montana, brian, thanks for being here tonight. republicans have made the calculation there's a certain amount of americans they can leave behind and not worry about losing the house. what else is it? >> they assume they are not going to the polls. or they have so successfully gerrymandered america, they are in safe districts. they want to give tax breaks to the pharmaceutical companies, the insurance companies,

outsource the income, not pay taxes. but if you put money in the pocket of someone who's looking for a new job, that makes it main street that same day. so i don't think they're making good business decisions right now. >> but are they making decisions that are going to come back and politically hurt them? they act so brazen about it. it's like they have made the calculation, we don't have to raise the minimum wage. we don't have to help out the long-term unemployed in this country. we're going to be okay. it's really historical how brazen they're being on the unemployed in this country. >> 90% of these house members will get re-elected because they're republican or democrat in their own district unless somebody runs against them in the primary. 90%. all they have to do is shake the trees from the pharmaceutical companies, get more money than their opponent and they will be re-elected. and they could give a damn about

working americans. >> what is boehner thinking? >> he can stay on if he can get the republicans to revote for him to be speaker. he doesn't give a damn about america's jobs. >> so it's not about the budget? >> if it was about the budget, they would look at ways of cutting defense spending, challenge the pharmaceutical companies and by medicine at the market rate. it's about getting re-elected. >> let's talk about the democrats possibly getting the house. there's a narrative that it's impossible. do you think the democrats can win the house? >> they can. they have to message health care. the republicans are in a situation where they're saying we ain't going to do a damn thing. we're not going to change anything. that's the status quo. ask big business and small business in america if they can compete in manufacturing when the rest of the world's paying half as much for health care. we pay 18%, the rest of the world, 11%. so we have a disadvantage. so when the republicans say

we're not going to change anything, we're not going to take money away from the insurance companies, we're not going to challenge the pharmaceutical companies to sell medicine at a world price. and furthermore, you thought it was okay to charge women a higher premium for their health insurance like they do in 40 states than men. and the old white guys in congress say damn right. we're going to charge women more. but this law says you can't charge a woman more. >> so the democrats haven't packaged this into a communication narrative to deliver the votes they need. the good outweighs the bad, clearly. >> absolutely. you have a sister, you have an aunt, you have a mother, and they all paid higher premiums under the republican plan. do you want to go back to that one? just because the republicans say yes. they could be mothers, and if they're mothers, it's going to cost more for health care. they are against motherhood and

for insurance companies. i like our odds. >> okay. the democrats seem to be fixated on this platform that, well, i'm going to washington and fix it. they keep talking about the fix. which i think emboldens the votes that boehner has taken to get rid of obamacare, the affordable care act. should a candidate say i'm going to fix it. there's a million things to fix. why, because this is such a generational move and positive for american families, why get hoodwinked into talking about the fix? >> elections are about the future. it doesn't matter whether it's the war in afghanistan or health care, if you're running for office, you need to look the people in the face and say i'm going to fix some of these problems the health care law is not perfect and i'm going to help make it better. i don't think that's talking about a fix, i think that's saying we're going to improve it. just like improving the number of jobs in america, and the

safety net, if we can get rid of republicans and take care of people who lose their jobs. >> let's talk about the nominee in 2016. assume that hillary clinton is going to run. what kind of campaign, or what kind of challenge would have to be mounted to defeat her for the nomination? i think would have to be somewhat of an unconventional campaign. throw the calendar away and get after it early on. that's probably your best shot. your thoughts on the clinton machine? >> well, it looks to me like the republican party is a circus with no elephants, no giraffes, not even anybody who can juggle, they're all clowns. you have to beat somebody with somebody. and so far we haven't seen nobody. >> okay. so how would you attack the -- the -- the clinton brand to be the nominee? >> well, look. i think the question that we have is what does a nominee bring for the future? anybody who comes to an election talking about the past is going to lose.

and so when american people are looking to the future, they're looking for your ideas about what's coming next. not what was in the rearview mirror. >> and this is the void that the republicans have right now. they can't talk about the future. >> well, they don't want to talk about the future. the people who have invested in them like the past. >> okay. brian, thanks so much. coming up, bad trade deals don't only impact workers in manufacturing, in the industry. entire communities suffer when those jobs are shipped overseas. more on this ripple effect in our series, fighting chance: american steel. and later, chris christie's pension reform, is it helping workers or retirees? but his hedge fund buddies are doing well. and ask ed live on ed show. we're right back.

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viewers. thanks for the questions. our first question tonight comes from tracy. how about the house trying to vote the national parks out next week? oh, yeah. yeah. no more monuments, no more state parks, no more national parks at all. the house is very concerned about president obama developing certain parks across the country. so that's what they want to take a vote on next week. no jobs bill, no plan for health care, well, you know the story. this is an absolute 100% rip off. they're ripping your tax dollars off to do garbage like this. and that's exactly what this is, and i think it is seeded in hate for the president. our next question is from eve. she wants to know, what do you think will happen to the affordable care act if we get a republican senate and a house in november? well, god forbid, but if it happens, i'm sure they will vote to repeal obamacare. i would imagine that the

democrats would filibuster it, but if it passes the house and the senate, comes to the president, he'll veto it. i assume they won't have enough votes for a veto override. and if that all happens, health care again becomes the big issue in 2016. part four of our series, fighting chance: american steel, up next. stay with us. >> i'm morgan brennan with the market wrap. optimism about the economy bo t boosts stocks. the nasdaq adds 11 points. the number of americans filing for first time job benefits rose less than expected last week. claims are near a three-month low. the philadelphia fed said factory activity in the mid-atlantic bounced back after a tough winter. and existing home sales fell slightly, that's according to the national association of

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welcome back to the ed show. when elected officials talk about the middle class, you have to wonder if they really know what the heck they are talking about. if you spend time in a community like lorraine, ohio, you get a sense they have no clue what they're talking about. you know, behind all the political rhetoric, there are real people that have real lives. do they know about that in washington? you'll meet them tonight in part four of our series, fighting chance: american steel. ♪ >> in indiana, our brothers and sisters at the particular plant i work at, but around the state that have been losing their jobs

and laid off austin also. >> when a manufacturing industry like the steel industry suffers, it has far-reaching effects. >> something as simple as getting your haircut. the lady says she hears layoffs coming, her business is going down. at the restaurants, the gas stations. a decent-paying living wage job affects three to four people automatically right away. >> for the workers of lorraine, ohio, the unfair practices taking place over 6,000 miles away from south korea are felt in the heart of main street. >> any time there's a hiccup in the auto or steel industry, people get anxious. when people get anxious and there's anxiety about the future of their paycheck, they're reluctant to make the big purchases that are important for the economy. >> it's all about the ripple effect. you can throw around numbers like lorraine county's 9.3%

unemployment rate, but these people are much more than a statistic. layoffs at the steel mill can jeopardize the livelihood of the restaurant owner, the fire department, or the local food shelter. mark, what's the mill mean to your business? >> being born and raised in this town, it means a lot. i've noticed an increase and decrease in the business when it's up or down. it means a lot. >> what's the mood of the people with the global economic pressures on the steel industry? >> a little down, to be honest. it's like a little shot of light back into it. overall, it's okay, but the mode is a little bit on the down side. >> even with the big investment that u.s. steel has made? >> now starting to see a little surge coming back the other direction. but that's new on the table. right now it's starting to pick up a little bit. it's a resilient town, that's for sure. we're trying to get by with what

we have. and the steel mill is one of the biggest industries this town has, and we need it. >> and have the people changed over the years? >> oh, yes, oh, yeah. >> how so? >> a lot of the people that lived in lorraine have left lorrai lorraine. a lot of the big churches in the area are no longer. we're down to one high school in the area. so the community has changed a lot since i've grown up. ♪ >> what's this mill mean to you and your family? >> it's meant the world to me and my family. we have been there for over 40 years. it's the life blood of the economy, was more so back in the day than it is today. but we owe a lot to the mill, the entire city. especially our little restaurant right across the street there. today is not what it was back in the 80s. you had a lot more people working. there was a lot more money in

the town. you know, there's been a lot of layoffs. it's not what it used to be. but we're hanging on. one of the few. a lot of places shut down and went away. we have a lot of community support too, thank god. >> what do the workers say about the trade agreements and the pressures on the global economy? >> a lot of the workers aren't so happy with a lot of the things. they've got steel coming in from outside the country. you know, it's not the quality steel that we're making here in america, but they're purchasing it lower and it's costing, you know, a lot of jobs here. you know, so -- >> so the guy that runs the cafe knows a lot about what the workers are going through. that's how tight this community is. >> that's right. that's right. yeah. yeah. everybody knows everybody here, yeah. yeah. small-knit community. >> if there aren't people working in the mill, the guy that you talked to over there at three star, there are construction workers and the mills people going there for breakfast, lunch, it's going to hit him too. >> what's that do to the

closeness of the community? >> tears us up. you can see even lorraine county as a whole, everything that we've lost. all the job in the steel mill, the auto plants we've lost. it's -- you know, it just hurts everybody that lives here and works here. >> yeah. and, of course, with services that you guys provide, i mean, that's your life blood too for the fire department. >> not only our member's life blood, it's the community's life blood. we have to provide those services, the police, the fire, the essential services. those snowplows out there on the streets every day. if these guys aren't here, if u.s. steel isn't making that commitment to the community, the community suffers. the basic resources that we have are gone. you layup fire fighters, you layoff police officers, you layoff city workers, and the quality of life for everyone in this country goes down. you give us a dollar, we're going to give that dollar back

to the community. i'm not going to put it in an offshore account or buy a condo in the bahamas. i'm not doing that. i'm going to dinner. i'm going to buy a car. i'm going to do something. you give that money to me, i'm going to spend it here. >> that's why we still have efforts that we're making in lorraine. you know, and a lot of it's voluntary. we have the veteran home opening up to help veterans that have fallen through the cracks and trying to get ahead in life. >> the people of lorraine, ohio, are all in this to thgether. it's a proud community tied to the successes and failures of the steel industry. when we fail to support the american steelworkers, as a country we're failing communities like lorraine, ohio. >> this country is built on the backbone of the middle class.

and the income that they're looking forward to having is not going to be there. so eventually, as a country, we're going to collapse because the -- the amount of money that we need to do the state programs and the state and local programs and funding, and to buy salt to keep the roads open isn't going to be there because the employees aren't working to pay taxes. you can't tax people on what nay don't make. >> the thing about our union, we supported each other when times were tough. when times were bad, we always had contributions, gate collections. support members when we have a lot of layoffs. it's been a tough time in lorraine with the shrinking of the industrial base. but i'm very proud of what they do here in this city. >> when you have a bad trade agreement and you allow countries to cheat, it hurts those americans. so the big question is, do politicians in washington,

elected officials, really understand what they're doing to american cities like lorraine, ohio? does john boehner really care? does he care? i don't think he does. ironically, he's from ohio. i don't know if he knows where lorraine is. i want to tell you, folks, there's a lot of lorraine, ohios, all across america. and our manufacturing sector is taking a beating right now because politicians in washington are being cash whipped and hoodwinked into trade deals. it's a race to the bottom. i don't want to hear any politician talk about being for the middle class unless they're against every trade deal we have done. there has to be a level of protectionism. and that protectionism is just fair trade. tomorrow night i'll show you what the people of lorraine really think of washington politicians and the way they have been sold out and kicked under the bus. coming up, what dominoes pizza

and the republican party have in common according to rand paul. pretenders is next. stick around. aflac. ♪ aflac, aflac, aflac! ♪ [ both sigh ] ♪

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to get the job done. . and tonight the pizza guy rand paul. a year ago he announced a gop overhaul that they had an imagine problem. >> focus groups described our party as narrow minded and out of touch and, quote, stuffy old men. the preacception that we're the party of the rich unfortunately continues to grovel. we know we had problems and we identified them and we're implementing the solutions to fix them. >> well, here's where the republicans are today. >> remember dominos finally admitted they had bad crust?

think republican party. admit it. bad crust. we need a different kind of party. maybe then people would say i always hated those republicans and their crust sucks but maybe there's some new republicans, maybe there will be a new gop. >> well, i'll believe it when i see it. there will never be a new gop. it's not the crust. the problem isn't just at the edges. the party is getting worse, not better. the kentucky senator may want to be the new republican dough boy but if rand paul thinks he's delivering a new fresh pizza party, he can keep on pretending. ♪

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welcome back to the ed show. this is a story for the folks that take a shower after work. chris christie's campaign donors are benefitting from his promise of pension reform. >> we continue to fund what matters most. the budget proposal is making the largest pension payment ever in state history at $2.25 billion. this is an increase of almost $670 million from last year. so this budget from faithful to the bipartisan pension legislation that we enacted together. by any measure, we have kept faith with our pensioners and our promise to them. >> okay. so let's take this apart. the governor increased the

retirement age for some workers. he also cut benefits and made adjustments to how much state employees pay into the plan. those savings aren't going to the workers. instead, retiree money is ending up in the hands of outside managers like private equity funds and hedge firms. the very same fund managers that were the biggest donors to chris christie's campaign. he has done some reporting on this. lee, good to have you with us tonight. you have just written a piece about christie's pension reform promises. what did you find. >> thank you for having me. as you mentioned, chris christie created big changes for the new jersey state pension fund and he likes to talk about getting tough on workers, cutting benefits, longer retirement age, that type of thing but the flip side of the new jersey pension story is that under his

administration, his appointees voted to double the amount in the the so-called investments, that's real estate, private equity, hedge funds and some of these contracts went to hedge fund managers that turned around and helped fund the republican governor's association. this group that was pivotal to electing chris christie, to reelecting him this year and now it's what he chairs as he prepares to run for president. >> how shady is this? >> well, look, in the past years, both democrats and republicans have used the pension as a -- the state pension as a honey pot to reward their cronies. that's well-known but new jersey actually has one of the strongest ethics laws to prevent these pension managers, hedge fund, private equity or whatever to giving gifts from state politicians to contributing to

their campaign but the rga which operates much like a super pack provides a loophole. so one of the hedge fund managers is collecting millions of dollars in fees, he is now allowed to give to christie but he is giving over $1 million to this political group that has benefitted christie. so it's a loophole he's exploiting. >> do you think this was orchestrated? do you think it was all planned out or was this just a coincidence. >> well, bob grady, a buddy with christie since childhood, they went to high school together. he hepd plan the re-election last year. he is the guy christie appointed to help run the new jersey pension fund. he's responsible for pushing up the new allocation into hedge funds and private equity. he says he's never heard of the paul singer donations and some of these other hedge fund

donations to the rga but take that as you will. it seems a little bit surprising for christie's top strategist not to know about the donations. >> so he gets state employees to put more money into this fund which is going to shower the managers of the funds with better commissions. >> that's right. you know, if you look at academic studies, pension funds actually perform better on the long haul with more traditional investments, s&p 500, treasuries, even a simple index fund. so whether they do well or they do poorly, the state pension pays hundreds of millions of dollars in fees. i had an expert look at the new jersey state pension plan under chris christie and for last year alone, that's over $1 billion in fees to these hedge fund managers. >> all right. lee, excellent reporting. thank you for your time tonight. he is the cofounder of republic report.org.

that's the ed show. politics today with revrand al sharpton starts right now. good evening. >> good evening and thanks to you for tuning in. i'm live tonight from cincinnati, ohio and a little later we'll be talking about protecting our voting rights. but we begin with tonight's lead. republicans need a health care reality check-up. with just 11 days left to enroll, president obama and his team are racing to get more people covered. today he visited with ellen. >> while i have you, i think it's only fair we should talk about obamacare. and that rhymed. >> well, you know, we've got about two weeks left until march 31st for people to sign up. if you don't have health insurance right now, you should go on healthcare.gov and especially all the moms out there who may have young people,