eamon, what do we know about the investigation so far? >> reporter: well, we knew earlier in the week as you mentioned that the fbi in new york was looking into this. they actually put out a 212 area code phone number for people with tips on high frequency trading to call them. but this really rachets it up to the level of the attorney general of the united states, a much different degree of scrutiny here. we also know that the new york attorney general is looking into this. and the s.e.c. says it's got a detailed and data-driven investigation of its own. we haven't seen much publicly from them on this. but maybe we're about to see a lot more. >> so we've got a couple of these investigations going on, eamon. what is this justice one going to be looking into that might be different from the fbi's and the s.e.c.? >> reporter: i think the s.e.c. is looking at civil issues. what the department of justice is looking into is whether there's any criminal violation, whether anybody actually violated insider trading law. now, we've known for a lon

eamon javers, back fact checking some of those big claims. eamon?> reporter: yeah, the dust is still settling from the great hft debate on "power lunch" earlier this week. let me play you two chunks of this debate that have both sides going back to play a little factual cleanup. let's start with the first chunk here, i will play this and then tell you what the facts are. take a look. >> my question to bill if he's launching these accusations -- >> i'm launching accusations. >> what market data do you use to price trades? >> we use direct feeds and the sip in combination. >> no, i asked you a question. not what you use to route. what do you use to price trades in your matching engine on direct edge? >> we use direct feeds. >> no. >> yes, we do. you use the same data we do. >> absolutely not. you guys use the sip to price trades. >> that is not true. >> now, look, this is an important issue because the sip is the slower, allegedly slower feed. if they use that, that would allow in theory high frequency traders to come in and poach some trades. now bat

no change really in their reaction function. >> hey, greg, it's eamon jaff s e -- eamon javers up heres all the time that it spends trying to make sure that we understand it correctly. does that tell you that this market is really hanging the hat on the fed too much at this point? >> yes, and there's nothing new about that. i've been covering the fed for well over a decade now and that's always been true, you know. the fed is such a dominant role here, but even when we were arguing over whether it was going to be, you know, march or april or may or june that they would tight ebb, we were only discussing differences of three months. i think what we have to keep reminding ourselves is far more important than what the fed is telling us is the data, and in the last month or two we've had data that suggests no compelling reason. >> it wasn't data that drove us today, it was words. it was words. we're backing off a time line and we've been backing off the time line for about two or three weeks now and it was the fed's words. their actions, yeah, we're looking at that, too, but it was the wor

eamon javers is on capitol hill. we are awaiting the gm ceo testimony before the committee on energy and commerce. there you see the preambles. let's get back to sue and bob pisani. basically bill o'brien said to michael lewis when were you at bats? he called him out. >> he did. and you know, michael fumbled a little bit on that. basically, alluded to the fact that he had talked to some bats employees, bill said they were ex-employees. i think it goes to bob's point that bill felt that his side of the industry, for better or for worse, no matter what you think about those particular companies, good or bad, was not well represented. he did a fairly vehement job of defending himself. i think it goes to the point, you and i were talking about this over coffee earlier this morning, it goes to the point that there have always been ways to get an edge in the market. there has always been front-running and then it was made illegal. some people think that this high frequency trading should be made illegal because it's legal

eamon, hold that thought. i know you're on later today. to you. >>> in the meantime spring is in the air. we have a new development in luxury travel. one hotel brand is getting into the private jet business. who is offering the service and for how much? we'll stay tuned to "power lunch." lunch." cars are driven by people. they're why we innovate. they're who we protect. they're why we make life less complicated. it's about people. we are volvo of sweden. so, what'd you think of the house? did you see the school rating? oh, you're right. hey, babe, i got to go. bye, daddy. have a good day at school, okay? ♪ [ man ] but what about when my parents visit? okay. just love this one. it's next to a park. [ man ] i love it. i love it, too. here's your new house. ♪ daddy! [ male announcer ] you're not just looking for a house. you're looking for a place for your life to happen. zillow. you're looking for a place for your life to happen. whoyour boss?rk for? yourself? your parents? your family? at baird, what matters most to you... matters most to u

eamon javers has been dugging for some answers. it seems like this is something congress would embrace, but is there appetite on the hill for it? >> that's the big question. when you look at a company like valeant, you have to keep an eye on political risk, the risk they'll change tax policy to prevent what valeant did in 2010, when they acquired a canadian company and did a tax inversion and moving the head qua respect to canada. they've long are targeted by congress. i've covered efforts to clamp down on them since 2001. but it was affected arier this year when the obama administration included an anti-inversion measure within the budget proposal. i've been talking to folks on capitol hill today, experts in this. they say there's no real clarity here on what the hill will actually do what it comes to these kind of tax inversions. there's a way to do a reform on inversions that doesn't impact companies that have already inverted. there's a lot of wiggle room and no real likelihood politically that anything is coming anytime soon,

eamon javers has more. >> reporter: it's an iconic american company and been headquartered in new york since its founding in a red brick building in brooklyn in 1849. under a potential $100 billion deal announced today pfizer could become a subsidiary of the uk based holding company. the deal would be capital tax experts call an inversion in which pfizer acquires astrazeneca and then incorporates the combined company in the uk even though it will keep pfizer's headquarters in new york. pfizer which reported an effective tax rate of 27.6% in 2013 will be able to take some advantage of the uk's 21% rate and as an added bonus pfizer will likely be able to shield its $69 billion offshore cash from u.s. repatriation taxes. the move could save the company millions in taxes but critics say it's not right. >> i think like probably the average american who hears about this sort of deal looks at this as a company that at some level is renouncing its american citizenship in order to engaging tax avoidance. it smells bad because it is bad. >> reporter: others say companies have no choice but to pl

our eamon jabbers is live in d.c. with his take. perfectly legal, correct?, yeah, that's right, scott. this one blows a lot of people's minds, because this is a classic case of insider trading that is not against the rules here. ackman did have some insider information. he knew that the acquisition effort was going to happen. but what he's arguing here is that he didn't get the information from anybody who breached a fiduciary duty by giving it to him, and he didn't have the information from inside the company being targeted. he had it from a third paerty, o therefore, doesn't break the rules. he said he has an iron-plated lawyer who reviewed it, and rob kissane did some of the lawyer work on this and pronounced it a good deal. so this one is fascinating. it blows a lot of people's minds. he's probably right on the merits. >> well, i mean, for -- from the law standpoint, it's not probably, eamon, right? >> yeah, yeah. >> he's having to defend what the law says he shouldn't have to defend. >> right. and the reason is because it's an unusually structured deal,

for "nightly business report" i'm eamon vjavers in washington >>> amidst the uproar about g.m.'s ignition switch recall they hired what they hope will be a voice of calm and reason. g.m. has tapped attorney ken feinberg, the government's pay czar during the financial crisis and hired to oversee payments of families of victims killed or injured in accidents linked to those faulty switches. mary thompson looks at the man who's become the go to guy in times of crisis. >> i have no comments. i've read the newspapers. >> reporter: being in the center of a media storm is familiar territory for kenneth feinberg. >> if you're a company caught in the deepening of a quick stand of a media scandal, he can keep you from sinking deeper. >> reporter: the latest to call on his services, general motors. feinberg's role, be a mediator between the automaker and families of victims whose deaths and accidents were linked to a faulty ignition switch. >> i am sure this committee knows mr. feinberg is highly qualified and very experienced in handling matters such as this. >> reporter: general motors c

wants to jump in. >> it's eamon javers in washington for jeff.tegy, a public relations strategy here. so often as they are today, those things are in conflict. as mary barra sits there and answers questions from members of congress up on capitol hill today, which should be most important in her mind, the public relations strategy of saying hey, we're going to do everything we can to fix it, it's our fault we're sorry or the legal strategy of trying to limit the financial exposure and damage? as she answers each one of those questions, which should be more important in her mind. >> there's often a conflict that's created between the communications people, the public relations and attorneys. the truth should prevail. what she's in the business of doing is building trust, answering the questions directly. she should not be overprotected legally. she should answer every question to the best of her ability. tony heyward, remember him, disstainfully sneering at congress from bp. toyota was toyota, toyoda was reluctant to go. they send lieutenants to go

eamon joins us. fi pfizer specifically mentioning the tax benefits of doing this deal. >> absolutely. i spoke to a representative of the company that told me we're seeking a more efficient tax structure as she called it. when corporate representatives talk about efficient tax structures they're talking about lower taxes. take a look at pfizer's press release this morning. in it they make very clear what they're going to do if this as stra zeneca bid goes through. the transaction if consume mated is expected to result in the combination of the two companies under a new uk holding company. called a tax aversion when one company takes over another company overseas. folks here hate tax inversions. it take ways a lot of money to the united states treasury. however, we're seeing a boom of tax inversions particularly in the pharmaceutical industry. this will be controversial if it goes forward. they have a 28 day window under uk law to decide whether they will make this deal. >> you have the dome over your

a eamon javers in washington. >> brian, how did mary barra do in your view? did she answer the question that is you wanted to hear? >> i think ms. barra did as well as can be expected. she's new to the job, she wasn't ceo when this all took place. i found her to be humble, apologetic. she did not speculate as to what the real answers can be. i think they're in search mode as to what the answers really are. this is very early in the process. it's not surprising congress wanted to see her so quickly. but i think to her credit she did not go so far as to make any statements that down the road could come back to haunt her. >> in some cases she didn't answer the congressmen and women's questions, did she, brian? >> no, i don't think she did. and i think that could be expected. as she said, there was a 200,000-page data dump that she and her team are working through right now i think that -- >> if congress people could have read it why couldn't she or her people have done that and briefed her on it? >> i think it's very easy when you have a 200,000-page data dump t

>> eamon, thank you.to dominic chu and get a market flash. >> let's look at pandora, the internet radio service company. repeating a buy rating on the company and $43 price target on the stock saying that march ad load suggest a sfrotrong first quarter. they're up 3 1/2% here in trading. back over to you. >> big move in that stock, thanks. >>> coming up, see me, feel me, touch me, smell me? you can do all that and more while watching the latest blockbuster film. the creator of the 4d movie theater will show us how it works when "squawk on the street" comes back. ...for the year. hi. sorry. just want to say, i bundled home and auto with state farm, saved 760 bucks. love this guy. so sorry. okay, does it bother anybody else that the mime is talking? frrreeeeaky! [ male announcer ] savings worth talking about. state farm. we know we're not the center of your life, but we'll do our best to help you connect to what is. ♪ ...work with equity experts... who work with regional experts... that's when expertise hap

eamon?ht, tesla and space-x ceo elon musk is speaking right now where he's just made a couple pieces of news. let me give you the big headline first. he is says his company is going to sue the federal government for the right to open up to competition of bidding process for what they call national security launches. that is air force launches of high le technical programs lie spy satellites. elon musk saying he doesn't think it's right for that business to be done on a sole source contract basis. he was space-x to have the ability to bid for some of those contracts as well. the second headline so far from elon musk is he as confirms that space-x's falcon 9 space vehicle completed a reusable flagt over the pacific where they could reland the rocket, and for at least eight seconds, it deployed, and then was destroyed by wave action. so that development of a reusable space vehicle is something that musk and spacex are pushing for. that could put them in an enviable position financial listen. >>

eamon, stick around.is intending to replace all the switches for those cars beginning on april 7. is that right? >> we will begin shipping new parts -- >> are you going to put a completely redesigned switch or put the old switches from 2006 into those cars? >> it's going to be a switch that meets the -- >> is it going to be newly redesigned or the old switch from 2006? >> it's the old design that meets the performance that's required. >> she joins us now to shed more light on the testimony. representative, good morning. >> good morning. >> thanks for joining us. i'm trying to figure out what the end game really should be here and what we should try to do. do we need to find either the individual or the group of individuals that we know signed off on letting this continue without a recall and bring them to justice, or do we need to change the culture of gm? do we need to change the culture of all of corporate america? what are we trying to accomplish? >> the main thing we're concerned about is how could gm

eamon, what's the latest? >> reporter: good morning, luke. a short while ago the acting prime minister of ukraine who was actually concluded a meeting with several regional official leaders here and announced he does not support the use of force to break up this ongoing siege that is taking place at the regional government building. now, we got to set the scene a little bit and to connect the dots about why the presence of russian troops and what is happening inside ukraine is so important. several days ago separatists, pro-russian separatists, took over a government building and since then they've set up layers of barricades and have essentially besieged that building. now, the government here said that it would use force if need be to evacuate those people to get them out. and the reason why that's important is because if, in fact, the ukrainian government used force, there are some pro-russian supporters who are saying that's when rush sha should intervene to try to protect ethnic russians inside ukraine. the ukrainiaian government doest w

here is eamon javers with a timeline of the troubles at gm. >> reporter: what did general motors know and when? those are the questions being asked about a faulty ignition switch. answers are emerging from documents released from the auto maker and congress. in 2001 gm became a ware there was a serious problem with select vehicles. in 2002 delfi says gm approved the part knowing it didn't meet they are enter specifications. in 2003 a dealer technician observed the car stall after the ignition switched off while driving. these are in contrast that they only knew of the defect in 2004. gm under mary barra issue as recall for over 1.5 million vehicles. sparking regulators a launch a formal investigation. this month, national highway transportation safety add machine station demanded detailed answers to 107 questions to determine if gm properly followed the legal processes and requirements for reporting recalls. and just last friday, gm added almost 1 million vehicles to the recall totaling more than 2.5 million worldwide. tomorrow barra will be on capitol hill. why did it take so long to

sarah eisen, eamon javers.making a surprise appearance at vladimir putin's q&a session, asking him about his stance to mass surveillance of his citizens. let's listen in. >> i'd like to ask you a question about the surveillance online communications and the bulk collection of private records by intelligence and law enforcements. does russia intercept, store or analyze in any way the communications of millions of individuals? >> well, he kind of answered no, eamon. he said -- shocking that this would even be asked, right? >> yeah, look, the whole thing was a shocking and extraordinary moment, tyler. earlier this morning, a lot of questions that are unanswered as of right now. was snowden live or on tape during that interview? was there any coercion involved or was this snowden's idea in the first place? what vladimir putin said was no, the russian secret services do not do mass collection, but they do go after specific individuals for collection of information with a court order. they say they don't have enough

let's get straight to eamon javers.ll us in on the very latest because obviously this is a still developing story. >> reporter: that's right. just another very tough day for gm's ceo mary barra up on capitol hill today. again, she apologized and again, she said that because of this ongoing internal gm investigation, she didn't have a whole lot of the answers that the senators were looking for today. she came in for some very rough treatment from some of these members of the senate committee. take a listen to senator barbara boxer dealing with mary barra this morning. >> in march '05 your gm people said it cost too much to fix me these cars. none of these solutions represents an acceptable business case, quote. that was a public document. gm gave that document over. you can't even talk to that. you don't know anything about anything. >> reporter: it got even worse there for mary barra when senator blumenthal of connecticut suggested that from what he's hearing, he thinks it's not just civil liability that gm has to worry

eamon javers with more on this developing story. >> reporter: it's u.s.e gonzalez ramos who will make the decision here. gm is fighting this. they don't want to pull all these vehicles off the road. you remember earlier this week we saw gm's ceo mary barra up on capitol hill. she was asked whether these recalled vehicles are still safe to drive. a lot of chevy cobalts and other vehicles. she said yes, they are, as long as you don't hang anything too heavy off the keychain. a lot of senators and members of congress were not happy with that. they asked her whether she would let her children drive this vehicle and she said yes, as long as you follow recall instructions, it's safe. we will see today whether the judge agrees with that. >> eamon, thank you very much. >>> still ahead, we got a lot to do in about 19 minutes. you ready? >> i'm ready. >> we got herb's five biggest mistakes. what else? >> we will think robot to lattes and a lot more on this late friday selloff. a look at the names we have be talking about. we have two big money guys joining us to te

that's one of the next steps we could see coming out of washington in the days to come, brian. >> eamon jabbers, thank you very much. >>> guys, here's a question. the markets are down today. the nasdaq is down a lot more than the dow and s&p, which says to me it's not a ukraine-driven sell-off, because you won't sell a cloud company because of what's going on in ukraine. am i right or wrong? >> i don't know -- i talk to hundreds of institutional peo e people, not one person is talking about ukraine. >> why not? >> not that it's not an issue, but it's not what's driving the action. >> they should be talking about it. i agree with you, that's not what's driving this. it's been this rotation, continues to be the rotation we've been talking about. folks are looking at multiples, and for whatever reason, sully, it now matters. the guys riding it, weather the hedge funds, to your point, anthony, selling off the high multiples. when you look at the other names, not everything is getting sold off now. those names that actually have fundamentals that are strong trade at a lower multiple and have

and welcome to six wong the labor party leader eamon gilmore is standing firm this evening satan has no intention of stepping down senior figures in the party running from the sycamore today after ndp filled prendergast said the party was in crisis and called on the beach or to go the roundup to just weeks ahead of the local and european elections. the seed in the social protection minister joan burke said the was no leadership issue but despite the most mep as a person of substance to change. it is. no rolling with his attentiveness to date her. it's really important that we took a nice because i do believe that the crisis but the neighbor patchy and i do believe we can fix this. neighbors helped rescue the furious that the braces for the cameras put a bullet on the microphones. i think she could wrong. more than that of the company. accompanying that were taken to the door where the state to come to that. local elections and onto the track recorded by and large who said that he's well into desirable to the people but surprisingly similar views from the target of her remarks. i thin

. >> eamon javers joins us now with a story from washington. where do things stand here, eamon?'s right. earlier in the week we learned that the fbi in new york was looking into this, but today's comments from eric holder raise the stakes on this. it makes it clear now that this issue of high frequency trading is on the agenda of the attorney general here in washington. that's a little bit of a different level than what we heard earlier in the week. take a listen to holder testifying on capitol hill earlier today. >> this practice which consists of financial brokers and trading firms using advanced computer algorithms and ultra high speed data networks to execute trades has rightly received scrutiny from regulators. i can confirm that we at the united states department of justice are investigating this practice to determine whether it violates insider trading laws. >> and that question of violation of insider trading laws is the interesting legal issue here because one of the questions is going to be, is it insider trading if you have advanced knowledge of somebody else's activi

our eamon javers is in washington covering it for us.y about the senate panel for mary barra than yesterday in the house? >> reporter: well, the big thing everybody is going to be watching for here is whether mary barra and general motors change their strategy in this hearing against what they did in the house of representatives yesterday. mary barra pledging transparency, but not really answering the lawmakers' questions or not answering all of the lawmakers' questions, real frustration on the house panel yesterday as barra continued to cite an internal gm investigation and say we can't provide all the answers until this investigation is over. but then also saying that she's not pledging to release the results -- the full results of that investigation, not even pledging that that investigation is going to result in any kind of work product or document or report or anything like that. will they change based on the frustration they saw yesterday in the house today in the senate, that's going to be the big question and we're going to have

eamon javers bringing us that story.imagine all these regulators -- >> trying to define a millisecond advantage as a material, not public information is sort of an odd -- >> it's a front run but i don't think it's -- but it is kind of amade izing a book comes out ane stuff has been going on for years. "the times" did a fabulous job. no one cares. >> so interesting how they -- >> be interesting to talk to the rank and file, all of those under ling underlings and say where are we on this thing. we've been working on it for a long time. let's get in front of a microphone. >> this is fulcrum day. you have got to see these stocks stop going down. i'm talking about the high multiple stocks. facebook. here's one that's also a great indicator. solarcity. this is it. deutsche bank draws a line in the sand says this is the right level to buy. it's underperformed the market and it's 88 to 60. if you see solarcity be able to hold then i think you can say maybe there's a short-term bottom in this. you see facebook, facebook's got to

uk-based at csonka is surging on pfizer ears $99 takeover offer >> eamon javers, tell us more about this>> critics today are calling this proposed deal outrageous because in the deal pfizer would be endajing in what's called a tax inversion. that's when one company buys a subsidiary overseas and inverts its corporate structure so the mother company is now a sub of the overseas company. that's what would happen under the deal. here's how pfizer laid it out this morning. pfizer saying the transaction, if consummated is expected to result in the combination of the two companies under a new uk-incorporated holding company. why is that important. well, taxes in the uk are lower corporate rise than they are here in the united states. pfizer's defenders argue that the fault here is simply in the u.s. tax coated and taxes in the united states are too high and forces companies overseas to engage in transactions like this. i spoke to pfizer earlier today saying they are seeking the most efficient tax struck two, the word they use for it, and have 28 days now where they have to figure out whether o

nbc's eamon mohaldin joins us. let me start with you. first of all, how long do we have until the deadline? what happens after that? >> reporter: we are several hours away from that deadline. the ukrainian government didn't spell out what it plans to do. it's given the pro russian separatist militias until then to give up their weapons, leave the government buildings and clear the roads in and out of towns and cities where they set up many makeshift checkpoints. if they don't the military is expected to carry out some kind of response. we don't yet know what the scale of the operation would look like, given the fact that it involves sevenen cities now with government buildings under the control of pro russian military forces. we have heard from sources. there are ukrainian special forces deployed to some areas already. >> that's happening right now with regard with to the russian troops that are massed along the border? what are you seeing? >> reporter: it's been hard to hear if there have been extraordinary activities on the other side.

eamon javers has the latest. >> that's right.e is giving banks an additional extension on a piece of the volcker rule. let me explain to you what the fed is just saying in a release. they say they will give banking entities two additional one--year extensions to conform their ownership interest in and sponsorship of certain collateralized loan obligations. that's a piece of the volcker rule so banks will have a little bit more time here to get right with volcker, that's probably going to be a relieve for some of those people responsible for implementing that very complicated rule making process. kelly? >> eamon, thanks very much. a quick reaction from the panel. nomi, seems like the obvious place to go here. >> kind of exactly what we were saying in the last segment. things aren't that healthy. on the one hand banks using any power or any muscle that they have to extend any aspect of the volcker rule. on the other hand, you're talking about the area that's related to loans, that's related to mortgages which is still a hangover fr

eamon javers with that story. >> that's right, bill. what cnbc has learned is later this afternoon, interactive brokers is expected to announce it's launching a new piece of its service, which is going to allow its customers to connect directly to iex, that new trading platform that's been highlighted by michael lewis' book "flash boys." interactive brokers saying they don't necessarily want to take a side, but they want to offer their customers to connect to iex, which is marketing itself as a trading platform where customers can't easily be taken advantage of by high-frequency traders. we're going to see that announcement later this afternoon. interactive brokers saying customers will have a choice. they can let interactive brokers' smart router decide which exchange their orders go to, or they can click a button and say, i want iex, i'm sending all my business that way. a new option in the market, guys. >> eamon, thank you. let's talk about the brokerages. larry, let's put up some of what the discount brokerages are doing today. this

eamon javers has the latest on what the acc is looking to do. what do you add to this?> a little more momentum here possibly on the reform side of this conversation. dom dominic talking about this. yesterday a speech yesterday, the so-called maker/taker rule. the exchanges pay a broker to direct the trades their way. aguilera saying, any market structure review would require a close examination of the maker/taker mold's and resulting conflicts between broker dealers and their customers. the criticism, the maker/taker model incense be vise not for the best price but go to the exchange that papers the biggest rebate. critics going back a couple years saying those rebates amount to nothing more than kickbacks in the system and distract what the brocker should should -- broker should be doing with their money. >> as we kick this around, people suggest via e-mail schwab is hypocritical by making this comment in light of the fact that schwab is making money in some of the same ways, by the rebates, et cetera. is that fair? what's the deal? >> i have a great deal of respect fo

i'm eamon javers in washington where cnbc learned iv eint acti brokers announce the first large retailrokerage 0 of 0erring customers to iex. so much attention in the wake of mike's lewis' book and new trading plastform designed to allow customers to avoid high frequency trading technologies and techniques. interactive brokers offering its customers the ability to click on an icon and choose directly to route their trades to iex, the first time they've had that ability. that is expected to be online within the next five to ten days, that option should be available for customers of interactive brokers, and we expect to see that announcement as early as this afternoon. back to you. >> ayman, interesting stuff. we asked brad about that and whether business had really picked up when we had him on "power lunch." he said, yes. ever since the publication of michael lewis' book, it had gained quite a bit of momentum. 's pras understandable. right, steve? given the controversy over high frequency trading. >> now we can all get on the super highway and take a but trade here. right? >> what's int

eamon is here to talk about that. >> a lot of the issue in the wake of the target hacking schedule, where at the point of sale, we have a card reader here who have allowed us to borrow it. it will demonstrate the chip and pin technology, a lot of gobblety gook in this debate. how does that actually work? well, here is the new card reader. this does chip and pin and chip and signature. so when you go to pay for purchase at point of sale, i'll demonstrate here. we got it set up. you hit payments. i done this once before, if i mess this up. we will do $999 because we want to do that? it's credit. this is a credit card that works basically like a credit card with chip and pin, insert the card. this is a demo card, nobody get the hd reader out to see whether or not my credit card number is on there. insert that, insert the pin, one, two, three, four. 1234. pinnock. fi pin okay. it's approved. >> why is that more secure, though? >> it's taking this computer chip which is on the card matching it up with the bank receiving the information and then also matching that up with the pen to make sure y

. >> that's for sure, eamon. on the back of that, with everything going on about the euro over the weekend, japanese yen, the dollar index is almost unchanged at 79.75 and a look at what's happening with the dow. >> the dow is starting to feel the pressure that the nasdaq has been feeling, that the biotech index has been leading the group up. the dow was up 150 points at its peak an hour ago and now a gain of just 32. we'll keep a close eye on this as we head to the close with 45 minutes left in the trading session. >> much more on the markets ahead. plus big surprise. we could be on pace for record recalls this year in the auto market. the big question is whether that will drive customers away from showrooms all together. the pros will talk it out next. >> and facing new banks. as the old guard post quarterly earnings, social media giant facebook is now awaiting regulatory approval to provide e-money services like storing money, exchanging it with others and making payments and so forth. we'll talk about the pot

eamon javers, did she give any new insights in the recall crisis? >> not really.oblem for gm. they don't seem to be able to provide answers, and, man, was there some tough treatment for mary barra on capitol hill from the senators who were very frustrated today. watch this. >> why not just come clean and say, we're going to do justice here? >> that is incredibly frustrating to me. >> oh, you can't even talk to that. you don't know anything about anything. >> you know, as a ceo on capitol hill when somebody says to you -- a senator says to you you don't know anything about anything, you really have a problem here. another senator trying to get at this question of whether or not the chevy cobalts which had this ignition switch issue that are still out on the road today are safe to drive. watch this one. >> if i were to have a recalled chevrolet cobalt, would you recommend that i drive home in it tonight? >> if you take the -- all the keys off the ring except the ignition key or just use the ignition key, our engineering team has done extensive analysis to say that i

eamon, i misspoke during the tease. i said there were a million workers.workers in bonuses. clear it all up for us. >> it's all about dollars, not people. this is one of those stories that's going to be extremely frustrating for those of us who paid our taxes on time and appropriately last week on april 15th. in the report, they found that irs employees, over a thousand of them, got bonuses, even though they had federal tax compliance problems. those workers received more than $1 million in total altogether and more than 10,000 hours in time off. the irs says in this report that it plans to conduct a study on a possible new payment policy. the irs has also told cnbc that none of these bonuses went to executives. yes, it's apparently true that if you're not current in your taxes, you can still get a bonus as an irs employee. >> amazing. only a thousand workers who didn't pay their taxes. >> the treasury secretary had some unpaid taxes. >> yes, timothy geithner. >> these things do happen. >> it goes around. >>> coming up next -- i'm not going to go too far -

eamon?hat ultimatum was given by the government, separatists seem not to be heeding the warning from the government at all. separatists, as you mentioned, stormed another police station taking it under their control. now it's not yet clear who is behind these separatists, who is funding them, who is paying for them. but the u.s. and the ukrainian government are not holding back their punches. they are blaming russia. they say the way these attacks are happening across the eastern part of the country, they are too well coordinated, too well organized for them to be organically conducted on the ground. they believe russia is behind it. they are putting the blame squarely on moscow's shoulders. the government in ukraine has given the protesters and separatists an ultimatum. put down your weapons and leave these buildings. you will avoid being prosecuted and arrested. so far they have not addressed that physically. meaning the government has not deployed any large scale military operations to tr

he's there for a four-country tour of asia in the president's -- let's stay in washington, eamon javerse supreme court now upholding the state of michigan's ban on affirmative action. the supreme court ruling today that the voters of -- in that state were well within their rights to block racial preferences. an excerpt saying, deliver brative debate on issues such as ray shall preferences may shade into ranker. does not justify removing certain from reach. democracy does not prove some are too divisive or profound for public debate. voters getting their way and has implications for states acos the country. we're waiting for a couple more rulings from the supreme court today. we'll keep our eyes on those and bring them as we have them. >> thank you very much. the view from d.c. on the earth day you might be shocked to learn in this country roughly $16 billion paper cups are thrown out each year. that's billion with a "b." now some entrepreneurial students from the school in brooklyn hope their new cup cycle initiative could help reduce that waste. currently in a three-day test phase call