large by the actual is to two should they really are sort of dated because they've got these old legacy systems that are in the back office talk about that just a little bit generically please you know well generically if you look at a financial institution right the processing systems that they've put in place have typically been there you know thirty years i was selling back office systems and many of those are still in place when i started my career thirty two years ago right so what's happened is is that the world has changed people have changed access to information has changed so those those big systems right have been supplemented you know and i would argue the biggest system on wall street right now bart is excel you know right we've taken all that alternative data that we need to store but you know what excel is unstructured data is combining information from various sources and it's hit it you know when i talk about we've got to start

making the data healthy right for restoring trust in the market is not about getting the answers it's about getting the information out of the data to be able to satisfy the questions because it's all there we just have to harness it get access to it and start delivering it in a fashion what challenge the pen what sort of people what sort of people is it a big your data wrangler but you've got actual cowboys and cowgirls working for you you know what sort of people are these computer scientist who's doing this actual work. you know in my environment we've got a combination of people you know i believe data scientists are you know the cornerstone to what we're doing we have computer scientist we have you know developers and programmers but importantly in any of these institutions all of these problems that we're facing with data have a vertical aspect so in addition to having some of the most brilliant data people we also supplemented those with financial people because it's the business people

that know the data but i would tell you i just told one of my friends daughters is a senior at the university that he's studying finance i said you've got one year left take as many data classes as you can to combine those with your financial degree because that is the future all right let's talk about one more thing before we go you and i spoke recently about something that i found totally interesting and it's the combination of unstructured data and artificial intelligence speak about that we've got about a minute left. one minute unstructured data is the fuel that will you know make a i happen. for all of us it's a great shiny object part and it is the future right but in order to get to that future artificial intelligence is not taking unstructured data so we all have to do together start looking at our data from a healthy perspective and in the in the years leading up to true artificial intelligence we have to start structuring that on structured data to be able to

fuel what will be truly the next revolution so i believe strongly in ai but there's a path to get there and the dangerous part is is we're starting at the top and we need to start the roadmap to start to fuel the ai revolution by harnessing our data and making that unstructured data into structured data i think you did almost exactly sixty seconds you're such a professional thank you. data wrangler founder and c.e.o. of penn dos systems we really thank you for being with us and for him commend you for your success at pintos systems you're making the world a better place particularly the financial world thank you thank you are great to see you. now it's time for a quick break stick around because when we return cyber security expert morgan wright explains how we can keep our online lives more private plus the u.s. house of representatives has passed a one point five trillion dollar tax reform bill by about a twenty seven to twelve by law school so when it will be in radio host. what's

next for tax reform as we go to break here are the numbers at the closing bell. welcome to the wonderful world of blood donation i come here every three weeks to get my transfusion to be specific i receive immunoglobulin that my body gets and some bodies that i cannot produce itself around the world giving blood is seen as a symbol of generosity no one does this because it helps people it's just that one

of the side effects is that in this applies more burning to put the money on your car immediately you don't have all plasma based drugs today come from private companies and are produced from paid plans much smaller comparable you know a motor car computer one of the risks of pay donation in it and then it is proved that the frequency of pathologies is much higher in paid donations. sado if i was lying when i. was over two years old he would go over to get the money from the federal. and who runs the blood business. cryptocurrency doesn't need to replace the us dollar. it just needs to survive while those. collapse under their own weight and when the

top and it's going to go south. she'll be. good at that ten mile from the. independent. that they didn't. do you mean they. were sort of my lemon who speculate him to me or the now with jamie as a hunk on their own. now at the. hill i got money but that never. seemed like him to make what we have it would be in the marrow have gone floating closer gave up because of me. when i lived.

in. the us house of representatives had passed a one point five trillion dollar tax reform bill president donald trump was on capitol hill earlier today to press the flesh and. rally republicans and it worked only thirteen of the two hundred forty eight republicans opposed the measure joining all of the democrats in the house here discuss the vote and the next steps that president trump hopes will result in a final new law by the end of this year is conservative t.v. and radio host steve malzberg steve thank you again for being with us you know the

republicans must feel as if they have dodged a little bit of a bullet here i mean if this tax reform bill had not passed it would have hurt a heck of a lot that said i recall when the house passed the repeal and replace obamacare bill earlier this year i think in may the president invited them all down to the rose garden at the white house they had a little party and celebrated perhaps a little bit too early so how confident are you steve that the senate will pass a bill they'll have a conference committee they'll have a consensus conference measure and that something can actually it be approved by both bodies by the end of the year. well today first of all i love the optic of the president you know getting out of the car and walking up the steps and down the steps and through the halls to get to the republican caucus and then he met with them behind closed doors and it worked and it worked rather well with only thirteen republicans saying no. as for the senate i think when push comes to shove

they will take this opportunity to pass a bill and then let it go to conference and see what the conference comes out with and then if there is staunchly opposed to it they have their opportunity to oppose it there ron johnson who came out yesterday and said i'm a no vote right now he says but i want to be a yes vote there are ways to work around this i just hope the list doesn't grow too long in the senate but i'm pretty confident they will at least pass a bill and take it to conference i had my or your optimism and i hope we get a good good tax reform bill you know that i know you're aware that the joint bipartisan joint committee on taxation came out with a report that said that people who are earning less than forty thousand dollars a year would actually see their taxes go up and twenty one that's important because many of us and myself and clued that bought that you know moving the earned income tax deduction from twelve to roughly twelve thousand roughly double that would help lower wage earners and that appears not to be the case with this do you think this

will this decision or this report by the joint committee will impact moderate republicans like susan collins and lisa murkowski. well it's funny you mention susan collins in the same breath is this the reason for this according to orrin hatch and others and there's another non nonpartisan committee that's going to share their report in a day or two and this revolves around the senate bill and it does this in the senate bill because they take into consideration the repeal of the obamacare individual mandate and follow me here very simply i hope a lot of low income people get subsidies for you know for paying for their obamacare so now a lot of these people just may not because under the threat of penalty they had to take health care or pay a penalty now a lot of people will say i don't want the health care i don't want to have to pay anything i'd still want to deal with that they'll suffer no penalty and this committee this this joint committee on taxation is saying they're counting this money this subsidy that they'll no longer need and no longer get that considering

that is money being taken away from them and they are saying that increases their taxes so there's a lot of debate on what whether or not this is an accounting gimmick if you will or or if it's sincere well i followed you so two things one this joint committee on taxation i mean i worked on the hill for about fifteen years you know it's it's been there since one thousand nine hundred twenty six it's bipartisan and you know that they look at things pretty level headed so that it's it is it is chaired by the republicans by the way as you know so fine if you're not going to count the health care but these people are going to have health care than i don't get me wrong the individual mandate causes a problem for a lot of people but if you take away that accounting that means people are not actually going to help have health care so maybe you know if you add that in things would be different but we'll see how that works out i guess the main thing is to get it out of the senate goes to the finance committee tomorrow goes to the senate what a week after thanksgiving you've steve yet you know we kept at thank you but one

point on that health care this is by choice people will drop tell obamacare by choice who now take it because they have a threat of a penalty i mean. people should have that choice i got it and then they'll have that choice and then they won't get it and then they'll go to the emergency room and then we'll all pay more for our health care anyway thank you so much rat time state really conservative host steve malzberg thank you. we've come a long way since former vice president al gore did not invent the internet although he sure was a champion of the new technology today our online existence is really omnipresent it's there all the time so what is your online existence and what more is there out there beyond what you know we're joined by morgan wright a senior fellow at the center for digital government one of the foremost experts on

cyber security morgan welcome thank you for being here thanks for having me on ok i want to go back for some of the folks particularly the millennial who sort of lived with the internet all their lives how the heck did the internet start the world wide web how when why and when did it start so we'll separate those internet exactly different than the world wide web that's tim berners lee but the internet was actually created through the defense department the defense advanced research projects administration darpa darpa you know and they were building stuff but the real reason was the former soviet union because at that time who was our biggest. threat cold war and nuclear weapons so they looked at the internet and said hey we need a way if something were to happen we need to be able to reconstitute communications and have a self healing network and that was the forerunner of the internet then later on a smart guy named tim berners lee using a computer created by steve jobs and neckties the internet. ok great now how the heck did we get where we are today from there you've written and talked about this as a former commodities regulator and i took particular note that we are essentially commodities

in this digital age now explain that for our viewers when it's free you're the product and in fact it's been done over time in fact the real genesis of this happened with the introduction. the i phone because until that time the phone companies had all the power you wanted to phone on our network you had to do it our way and it wasn't about the data it was about the number of minutes you use talking on voice but when we started using data and it was about the apps it is about the content then over time then it was a little bit here a little bit there facebook started growing twitter started growing we started giving up more of our privacy pretty soon it's all parable of the frog how do you boil a frog you don't throw into building water you put them in one it's nice and comfy and you turn it up one degree at a time so over the years we've been turning it up to three to four degrees and now people that are getting on to facebook you know new people they don't understand the met the impact of privacy the loss of privacy they've given up but they haven't seen it because it's been done slice at a time well picking up on your boiling the frog a nalgene if somebody decided in sort of a weird way i am done with this i'm mad as heck and i'm not going to take it

anymore i'll never use the internet again is it possible that for them to be anonymous to erase their online presence you might maybe going forward you could really reduce your presence but you're not going to get rid of your history your trail i mean if you've been out there on social media if you've been out there on linked in if you've done google searches if you've done anything like that you look that history is out there it's very difficult to a race that as much as it would be difficult to erase you know the oceans in the ice caps and everything else so it's like it's out there forever you can do things to reduce your presence online but look what's you know you can't unring that bell and you are out there are so clever so so say i'm not going to you can't do that but what about this thing called incognito which i'd never use but what it what is that and does that make you anonymous no absolutely not it's they still know that you're searching for things all it does is in your own browser history if they're searching for things you should be dodgy things and somebody of the your browser later they won't see it in your history but google or facebook or your internet service provider is still capturing what it is you're searching for because the

internet has to have a return address if you go out somewhere you want information it's got to have a place to return it and it knows it's you my colleague here. on the big picture with holland cook said that look right now. now even television networks are going to track you so that just like when you get on the internet you have ads that are targeted to you that when you turn on television in the future that you'll get ads that are targeted to you want to tell a vision that's that's occurring no matter it's going no it is actually verizon follow the pattern for voice recognition technology they want to incorporate into their televisions you've got alexy you've got google home these things are listening to what people say what people talk about what they're searching for and trust me that data is being shared it's being aggregated being sold to people and again you're the product for consumers i mean should they just feel like it's a lost cause or are there some laws rules and regulations that protect them in some way you know just think about like driving you can't stop the other driver from being an idiot but you can you can drive more defensively so be more defensively when you're on the internet there are some laws if you especially if you've got children if they're under thirteen they should be on social media accounts in fact

there are consumer protection laws and laws that come out of the f.c.c. that prevent the collection of data of children under thirteen many companies have gotten in trouble for not advertising the fact what they do with the data how they collect it so there are acceptable use policies but the biggest thing for consumers is look this is a war you may walk away from a fight that you can't walk away from or they're after you they're after your data they're trying to lock up your information with ransom or identity theft these are all things you've got just like you drive defensively you have to be on the internet and be defensive when you're on the internet and it is that pretty much your your advice for consumers for how to be as safe as they can given the circumstance i mean you know look think about using encryption encrypt everything you do use two factor authentication there's ways to get a caterer microsoft has projects are say if you're on pay pal pay pal does what's called two step verification which is used turn it on if you want to log in and they'll say great username password now we're going to text you now a six digit code only good for five minutes you've got to put it in but yeah there are lots of ways if people just take the time to learn what resource they're accessing and how to be safe you would hop into

a car and wonder hey what are these things other seatbelts never seen before we all know we need to put the seatbelt on we all need to know we need to follow the speed limit doesn't matter if you're on a google or if you're on a mac or a windows machine just be safe about what it is you do. such great information for consumers so it we're beyond the point of being anonymous but we are at the place where you can still have some some kind of protection yeah it's so helpful thank you so much for being we really appreciate it was great to see it and i know our viewers will appreciate all the advice about what they should be doing now and in the future morgan wright senior fellow for the center for digital government and cyber security analyst thank you for your time. before we go we have one more story to talk about regarding a record setting art purchased on wednesday a rediscovered portrait of jesus painted by leonardo da vinci sold for four hundred fifty point three million dollars making it the most expensive work of art ever sold it was purchased at christie's auction house in new york but the buyers

identity was not revealed and according to the wall street journal there was a ninety minute bidding battle between five people and the bids were quickly increasing by ten million dollars increment the final price came as a shock for some considering it was initially estimated to sell for around one hundred million dollars the portrait was painted a little over five hundred years ago and was passed around the royal families in europe before temporarily disappearing but then in one nine hundred fifty eight it reappeared at sotheby's and sold for forty five pounds which at the time was equivalent to about one hundred twenty five dollars in two thousand and five that was spotted by a group of art dealers and by end a conservatory that fought for its reopened cation eventually winning the support of most museums and davinci experts as of now it's the only work by davinci held in private hands at least to those that believe it's actually davinci some art experts like charles hope of the warburg institute still have doubts about it and the new

york review of books he wrote even making allowances for its extremely poor state of preservation it is a curiously unimpressive composition and it is hard to believe that leonardo himself was responsible for anything so dull. ok so let's assume just for the sake of argument that it is a real vinci and i'm a big jesus for it but it's only four hundred fifty million dollars i mean everything is relative if you're a billionaire i guess it's not really you know it's pocket change for some people if it's four hundred fifty if it actually is real i think it would be deeply upsetting to find out that you spent almost half a billion dollars on something that was not legitimate and if four hundred fifty million is for that and that's a record one of the other things selling for well i mean considering it is half a billion dollars it's still much higher than all the other most expensive lee or most expensive priced paintings but of policies on paintings sold for three hundred million dollars paul gauguin paintings sold for two hundred and twelve million

dollars and the rest beneath that are all within the mid one hundred to low to hundreds don't think i've got room on my wall unfortunately for those thanks for watching to be sure to catch boom bust on direct t.v. in the united states you find us one channel three twenty one and if you miss out on directv catch us on you tube you tube. but our team thanks for watching you know i. don't think. i. traveled across the united states exploring america's deadly love affair with. a

bad guy trying to get to my family members he would have better a lot better and i think they are inheriting whenever my my baby says my book was published in the year two thousand. million. americans have been killed by firearms in the u.s. side and we had a thought to me as i did this is a middle school we go through drills and we put ourselves in real scenarios it was interesting to see who actually got hit by the gun i just saw tons of the subject to track down each gun on a who i'd met and photograph those years of god i don't know this but we are not. in america a college degree requires a great deal. a decades long debt. studying

so hard it requires trust to. go through humiliation to enter society. and paci to death sometimes quite literally. want other true colors of universities in the us. simply being. that students have been mild form of the union depends on both love with meters that they took with. a lesson but the counselors epicenter i went up at a sauna we were meeting there. were sort of my love it was speculation that may all be here now with jeremy as a hunk on the road. now it's a bad thing a good lesson but because hell i got money for that never. see let him to make the

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that she would prefer snap elections to forming a minority government and that is after coalition talks between merkel's party and the democrats break down over irreconcilable differences. google is planning to filter r t and sputnik out of its news feeds by artificially deal ranking at their story. today the united states is designating north korea as a state sponsor of terrorists. president trump raises the stakes over north korea officially branding pyongyang as a backer of a terrorist. you find more on those and other stories that are to dot com coming up though as big a record high so if you go look at whether the cryptocurrency can continue the trend stay with us.