he's wolfgang koester, c.e.o. of currency management firm fireapps. >> suzanne: the tickets will cost up to $30,000 each. no, we're not talking about the super bowl. it's tonight's fundraiser with president obama here in new york. there are two of them, actually. the events mark that bipartisan time of year when lawmakers put their fundraising efforts into high gear ahead of the fall elections. and this year, the events are expected to raise more than $3 billion, a new record. darren gersh reports. >> reporter: they used to call the august congressional break a "recess." but that sounded too much like a vacation. so when lawmakers leave town next week, they will officially be taking a summer district work period. they could just as easily call it fundraising time. >> they don't have to be in washington making laws. they've got the time to go, raise money, and raise a lot of it. >> reporter: that's david levinthal, he tracks campaign contributions for opensecrets.org. and this year, there is a lot to track. >> ther

our guest is wolfgang koester, ceo of fireapps. >> susie: general electric will pay $23.5 million to settle charges it gave illegal kickbacks to saddam hussein's government. the s.e.c. says, from 2000-to- 2003, g.e. paid the iraqi government in cash, computer equipment, medical supplies and services. in exchange, the conglomerate won valuable supply contracts under the united nations' oil for food program. in settling the charges, g.e. did not admit or deny wrongdoing. >> tom: now that financial regulatory reform is law, the s.e.c. is getting down to business, writing 100 new rules tied to the new law, and you may be able to help. chairman mary schapiro is asking for what she calls good faith input from both business and the public, even though that isn't required by law. the new rules will cover everything from over-the-counter derivatives to credit rating agencies and hedge funds. >> susie: finding value in the overhaul of the nation's financial rule book. it's not easy, but it's there. here's tonight's commentator, justin fox, editorial director at the "harvard business review." >