how long have you been at sullivan and cromwell? >> over 20 years. >> would you consider yourself an expert? >> like senator corker, since you're going to be running the scc i would like you to know about the scc law. >> are you familiar with the gentleman by the name of allen stanford during the bill the ponzi scheme? >> i am. >> at one point in 2008 he was listed on the "forbes" top 400 or whatever, he had a net worth of $2.2 billion. now he's got in the number, prison number 35010783. he frauded about 7,800 investors, 2,000 of them were from louisiana. sipc denied coverage of them. scc sued the sipc, i think a federal judge threw it out. i was disappointed. i wrote it out to be precise, what do you intend to do for investors that lose cash and failed brokerage or victims of a ponzi scheme like this financial scheme the one i talk about in the event they need to return to the sipc which was created to help them? >> senator, i am familiar with the stanford matter, and people like allen stanford and other fraudsters who we can name

how long you been at sullivan and cromwell? >> over 20 years. >> would you consider yourself a securities expert? >> if anyone can be, i think i think so. >> i'm kind of like senator corker since you're going to be running the sec i'd like to you know something about securities law. i want to ask you about a matter that's important to many states but also louisiana. you familiar with a gentleman by the name of alan stanford? ring a bell, the ponz decide scheme. >> i am. >> he at one point was in 2008 was listed on the forbes top 400 or whatever, he had a net worth of $2.2 billion. now he's got another number, he's got a prison number it's 35017183, he defrauded in a ponzi scheme investors, life savings. the securities investor protection corporation, sipc, denied coverage of them. se sued the sipc, i think a federal judge threw it out. obviously i was disappointed in that. here's my question. i wrote it out so i'd be precise. what do you intend to do to ensure that investors who lose cash and securities in a failed brokerage ar

. >> to punish any corporation or --k that uses solvent sullivan & cromwell as their lawyer, is that right? >> i believe that's a fair summary. >> thank you, more potential cases with a deadlock and knowing forces and that's a problem. and even beyond sullivan & cromwell's already long list of wall street clients, any reasonably strategic companies that wanted to try to avoid an sec enforcement action could simply hire sullivan & cromwell to represent them before the agency and then you could not vote for enforcement against that company. is that right? >> i'm not sure about that, senator. >>you do know the rule that if they are represented by sullivan & cromwell in front of the agency, that you will be banned from being able to vote against them. byif they are represented sullivan & cromwell in front of the agency, i would not be able to participate. >> that was my point. so more cases potentially that you cannot participate in, meaning more cases potentially here with a deadlock and no enforcement. i think that's another problem. it's important to think about how often, as we go th

with all of this and more, nothing comes close to cromwell. l o s hrad l ocovney. brs e hrad l alrvmaeiya ocovney. llor u , or d orha or dile tig,orsi id new neutrogena® rapid wrinkle repair wrinkles? your time is up! with the proven power of retinol. reduces wrinkles in just one week. neutrogena® [cheers and applause] [dramatic music] >> welcome back to whiz kids week here on "who wants to be a millionaire." sojas wagle, he wants to be a millionaire, and he is a whiz kid, so you fit the bill here. playing a great game. you're at $5,000. you reached that threshold. [cheers and applause] i see why you were the mvp. >> [laughs] thank you. >> you're playing a good game. you feeling good? >> mm-hmm. >> all right, you want to keep going? >> yes. >> all right, i'll quit talking. let's play "who wants to be a millionaire." [cheers and applause] all right, sojas, $7,000. signifying its departure and arrival cities, the letters "nyp" appear on what historic vehicle? >> okay, so these are all ships, i'm guessing. the only thing that's really-- that i'm really familiar with is "rms titanic," not

>> if they are represented by sullivan and cromwell in front of the agency, i would not be ab will to participate. >> that was my point. so more cases -- more cases potentially that you cannot participate in, meaning more cases potentially here with a deadlock and no enforcement. i think that's another problem. so it's important to think about how often as we go through this if president trump wanted to make sure that the sec would have a hard time in going after his wall street friends, it seems to me you would be the perfect sec chair. you can't vote to punish some of the biggest names on wall street. that means those cases would be at least more likely to end up in deadlock, which means those companies could skate free. and i just want to point out, this is not a theoretical problem. recusals were a very big issue for the outgoing sec chair mary joe white. she came from a major law firm. in her short time heading up the sec she had to recuse in at least 48 enforcement matters because of conflicts involving her former clients, her former law firm and her husband's clients and law fi

after cromwell died in 1658 his son richard was unable to consolidate power as a successor. a struggle ensued between the army and the parliament, which led to political maneuvering for the return of the monarchy. that happens in 1660. the restoration of the stewart's and the throne of england. when he did so, all laws adopted between the execution of his father and his own restoration, we call the interregnum, it was deemed null and void. almost immediately knew tensions begin to develop between england and the united provinces over the status of charles the second's nephew. his rhetoric claims to the position of offices that his father had held was blocked. after being named grand pension mary control the faction. he was a committed republican and opponent of the return of the houses -- the house of orange to power. charles restoration effectively reverses the ideological position of england and the netherlands that had prevailed during the first war. at that junction, it was english public and frustration at the sympathizers in the netherlands that prompted the first trad

seen here is oliver cromwell's signature in 1655

me he has definitely told friends, you first,hat country comes and he likened himself to thomas cromwell as we know, did end up the headed. beheaded. wearing see him on tv makeup. recently, we saw him at cpac without any makeup, so he looked worse. thisnk his priority is list on the wall he has of all the things, his agenda, for the first 100 days. he cares about that, to his the country. if he somehow implodes in the process, that is fine. country first. william: he seems to have -- he'sed that his days only going to have a limited time on the stage. vicky: we do know that steve bannon is a student of history. people in his position, you know, -- william: have a half-life. but the mercer's, i think the whole fascinating thing that citizens united unleashed the mercer's, unleashed a a lot of powerfully wealthy people, but this election cycle, it seems like it unleased the mercer's on unleashed the mercer's on us. we have an understanding of who they are, how they worked throughout this campaign, first backing ted cruz and then switching over to donald trump. it is a really fascinating re

definitely told friends that, you know, the country comes first and he's likened himself to thomas cromwell who ended up beheaded and that he looked tired. this person said we often see him open tv wearing makeup. recently we saw him at c-pac without any makeup. he looked much worse. >> cohan: so do you think -- , inci think his priority, of al the things, his agenda for the first 10 100 days. he cares about that and the country. if he implodes in the process, that's fine, country first. >> cohan: -- he seems to have recognized he's only going to have a limited time on the stage. >> who knows, but we know steve bannon is a student of history fix you say so. ( laughter ) well, people in his position -- >> cohan: have a half-life. yes. >> cohan: but the mercers, you know, i think the whole fascinating thing that citizens united unleashed the mercers, unleashed a lot of powerfully wealthy people, but this go-round, this election cycle, seemed like it unleashed the mercers on us and this is one of the first times we're able to have an understanding of who they are and how they worked in the cam

your term as chair you could not vote to punish any corporation or bank they use the sullivan and cromwell as their lawyer . right? >> i believe that is a fair summary. >> thank you. more cases are deadlocked and that is a problem. even beyond that list of wall street clients in the reasonably strategic company but tries to avoid that action could simply hired them to represent them before the agency then you could not vote for enforcement against the company. is that right price. >> i am not sure about that. >> do you know, the rules to be represented in front of the agency collects the you'll be beyond from voting against them. >> if they do then i would not be able to participate. >> that's my point. >> so more cases potentially you cannot participate and here with a deadlocked and no enforcement. so how often we go through this president trump wanted to make shirts sec would hard time going after his wall street friends. you would be the perfect chair you cannot vote to punish but they would be more likely to end up in deadlock which means they could skate free. recusals are a very big

he's a partner at sullivan and cromwell. >>> and sears suppliers are reducing shipments and asking forording to a reuters report. we talked about this yesterday. it follows the retailer's annual report in which it expressed doubts about its future after years of losses and declining sales. i think they're selling assets to just cover pension obligations. >> but something like this where the suppliers are now saying we need better terms, this is the death spiral. >> could be the spiral. companies go away. >> hard to imagine one like sears that has a long and storied history. >> if you go back and look over the years at what was a household name in the past, a lot of them are gone. it happens. >> we'll be watching that closely. investors overall are watching what happens today in washington. in particular, a key house vote on the american health care act. the legislation to repeal obamacare. kayla joins us now with more on the latest in the vote count. >> hey, becky. the markets need some legislative progress to justify current stock valuations, and health care for the trump administrati

the double—sided billboard on the a4 west cromwell road in west london was donated free of charge byon the circle line. that has minor delays. the district line has severe delays for the same reason. the london 0verground has minor delays between liverpool street and enfield town, due to a faulty train. 0n the roads, the m25 is slow clockwise at the qeii bridge, after a car broke down earlier. let's have a check on the weather now, with kate. good morning. well, after a rather grey end to the weekend, it looks like a lovely, bright start to the new week. plenty of sunshine around through the course of today, and it should stay dry. now, there is a gentle breeze, nothing too significant, and in the sunshine the air is still mild, so it is going to feel pleasantly warm, especially by the end of the afternoon. we are looking at 15, maybe even 16 celsius in the sunshine. now, you will notice this cloud just starting to edge in towards the end of the afternoon, so clouding over for parts of north london, and then gradually that cloud sinks south through the evening and overnight. still, t