we just had jack bogle. >> we did! he was the river! jack bogle was the river. we go back in time.'m out. thank you. stay with cnbc today. at 3:00 eastern time, this is a big one. former citigroup chairman and ceo sandy weill sits down for an exclusive interview with the closing bell team. he and his wife donated a couple million bucks to the university of california at san francisco. no doubt the pay issue will come up as well. meantime, voters for the election headed to the polls and another big primary tuesday, today. five states up for grabs. the big question -- can ted cruz and john kasich's unlikely alliance stop trump from becoming more dominant? become one step closer to the nomination? details you need to hear coming up. it is the big question for democrats. has he moved the party left forever? let's bring in larry kudlow. pimco's policy head and luis miranda at the democratic national committee. my first question -- are you any relation to lynn manual miranda and can you get me four in the orchestra for "hamilton"? >> if i were i would get myself some seats. >> it's somet

people like john bogle -- jack bogle and he is right, when you put your customers first, it is greatomers and business. david: when you share stories like that, no one can defend that. it is outrageous and terribly sad, but i am sure there are thousands of advisers doing at the right way. why is it the right way to do it by a broad regulation that affects everyone as opposed to just going after the bad actors? secretary perez: i really appreciate your question because this is not the case about people who have malice in their hearts. i have said that repeatedly. advisors are not bad people. i have spoken to so many. they are trying to do the right thing. a systemhe case about that is structurally flawed. the incentives are not aligned. consumer'srds, the best interest is not aligned with the current incentives that result to brokers, so the tol eful case, again, that was suitable and they did nothing wrong legally, but it is not right and that is what we are fixing. they can she we align the incentive structures. have considered unintended consequences, consequences such as some peop