the s.e.c. violated federal law by signing a lease for 1.4 million square feet that cost taxpayers over $566 million. this resulted in investigation by the transportation and infrastructure committee and the s.e.c.'s inspector general. the conclusions of these investigations indicated that not only did the s.e.c. exceed its authority with this lease, but also that the s.e.c. had a history of mismanaging its leasing authority. recent actions by the s.e.c. during g.s.a.'s procurement of lease space for the s.e.c. seem to indicate that the agency may be turning back to its old ways. this bill ensures that the s.e.c. like other federal agencies continues to use the g.s.a. for its space needs and provides more safeguards for the taxpayers' money. i urge support of the legislation. i reserve the balance of my time. the speaker pro tempore: the gentleman from missouri yields. the gentleman from washington is recognized. mr. larsen: mr. speaker, i yield myself such time as i may consume. the speaker pro

this very tweet got him fined $20 million by the s.e.c. and tesla fined $20 million by the s.e.c.s already a $40 million tweet as you can see. that's worth $40 million to the s.e.c. it may be worth much more to investors if they can find musk culpable in this case. >> that tweet, august of 2018, now it's 2023, where does the case go from here? he's fined by the s.e.c. so not looking good for him in that aspect. could that influence this case? i mean, that's obviously a factor. >> i think you've hit it 100% on the head right. after all, a government agency has said you went too far, especially in those two words, funding secured. so why wouldn't investors who have far less financial know how, why wouldn't they be fooled as well? and that's where the culpability may lie. and musk may owe these people a lot of money. >> n specific numbers, but what are you hearing, hundreds of millions? >> as much of that. they haven't released it, the number of dollars on the line and how many investors are involved here. we heard from one larger of one investor who represents everybody, but we don'

the s.e.c. had met a bunch of times with sbf. i don't know what types of specifics and oversights they were applying. i view this as a fraud, not a crypto problem at large. to your point, regulatory clarity globally is important. we're seeing a lot of countries. we're in davos it's clearly one of the countries leaning in the uk, japan, switzerland, sorry, singapore the u.s. is notably absent from the list and in some ways the regulators in the u.s. have added confusion to the crypto market. >> let's get a check-in with what's going on with that lawsuit and the s.e.c. and ripple are you planning to set well the s.e.c. >> well, we have always said we would love to settle but it requires one very, very, very important thing it's clear srp is not a security. the s.e.c. and gary gentzler has very outwardly said he views almost all crypto as a security and that leaves very little room for a settlement the case is now briefly before the judge. the judges take however long the judges will take we're opt

recently the s.e.c. found that rural billses that seek -- businesses that seek investor capital are raising higher amounts. however, rural businesses are still raising less capital than their urban counterparts relatively to the size of the affected population. but even the urban numbers misrepresent what is happening in urban areas in this country. because just because a big business is headquartered in an urban area doesn't mean they're serving the urban area or that they're employing in that urban area. so, we've got huge challenges. in rural areas, which this bill deals with, every small business and entrepreneur counts and they are the lifeblood of the local economy and their success is critical to the success of their community. this bill is just one example of how congress can help solve one of the issues that rural small businesses face. access to capital. i would like to thank congressman mooney for his work on this bill and i urge my colleagues to support this bipartisan legislation. and i rese

last night i was working on a guy nailed by the s.e.c. justice department he stole money from a spac, invested it in meme stocks then created a new spac and invested that in crypto. so this is -- we had some era here and that era is put to bed but it's being put to bed at a pace that seems a little rapid that's why you can come in here and see rates going the wrong way, amazon cutting people but it's arbitrary cut 18,000 people, they hire hundreds of thousands. 18,000 salesforce was real. salesforce was real. they had starboard in there telling marc, listen, you have real fat >> is there -- there's two schools of thoughts on layoffs one is you don't want do it more than once. you want to do it once and make it decisive. the other is maybe you want to do it gradually to see how bad this downturn, if we get it, will be. >> that's okay i mean, i think that amazon -- you had to look at how many they hired last year. let's talk about alphabet because that's the most glaring. what did they do they committed $9 billion to building new centers, d

let's just stop pretending that the s.e.c., as gene said, the s.e.c.ent level than everybody else. >> all right. and let's stop talking about sports and do the news. >> would you like me to talk about liverpool, we could go on for a while. >> we could learn more from the fallout of sunday's riots in brazil. more than 1,500 people connected with the breach of the nation's supreme court congress, presidential palace have been arrested. "the washington post" reports, the brazilian government was actually aware of the planned protest, days in advance, but they thought they would be able to contain it. the lula administration says it was assured by the pro bolsonaro governor of the region, that everything was under control. brazil's supreme court has now suspended that governor. it is unclear whether he intentionally misled the government about the scale of the protest. meanwhile, brazilian president lula and president joe biden spoke on the phone yesterday. biden reaffirmed support for lula's win while the call's readout announced lula will visit the u.s.

. >> so this time the s.e.c. is taking on platform nexto, it is the agency's latest crypt owen forcement, the s.e.c. charged them with failing to register the lending product. it was an interest bearing consumer product that let people tender crypto in return for yield. nexto agreed to pay $45 million in penalties to the s.e.c. and state regulators without denying the finding and also agreed to a cease and desist order as cc chairman gary gensler said in a statement that compliance with our time-tested public policies century a choice as he put it where crypto companies will not comply we'll continue to follow the 23facts and law to hold them accountable. last week they charged genesis and gemini for a similar interest bearing product and in the wake of the ftx collapse, the s.e.c. has come under pressure for not imposing some of the these safeguards earlier. back to you. >> it is great they're cracking down now, kate it is just stunning, right now they have a cookie-cutter where they're going to enforce against

and the s.e.c. saying that this product should have been registered as a security gary againstler in his statement saying today's charges build on previous actions to make clear the marketplace and investing public that crypto lending products and their other intermediaries need to comply with time-tested securities laws i mention the the winklevoss twins here of facebook and social network fame. genesis, meanwhile, is a lending firm one of the first really market makers and lenders in the space. shut down a few months ago as a result of what's happening with ftx. but one of the big lenders here, they teamed up as i mentioned on that interest-bearing product. these two firms have been fighting back and forth over this earned product but the latest here from the s.e.c., we've had a lot going back, back and forth between these two firms when it comes to this. but an action here and statement we've got from gary gentzler melissa, back to you >> kate, it seems kind of odd, too little too late. how long

the s.e.c.>> stepped down as the company's chairman. >> and he paid a $20 million penalty, tesla as well the s.e.c. took away his right to tweet -- he had to preclear his tweets with the company. so, simultaneously around the same time a group of investors filed this federal securities class action in san francisco, which is just now making its way to trial. >> so, the fact this is one of those exceedingly rare cases to actually make it into a courtroom and in front of a jury right now, what does that say about what we know about the case so far and the strength of the case, whether you are elon musk and team tesla or whether you are the investors looking to be made whole based off these tweets >> an important point to know is judge chen, presiding over this case, ruled last summer the tweets he made were false, and critically mr. musk was reckless am making them he should have known they were false when he actually issued them right off the bat he's operating from a whole he's operating from a

now, warren endorsed the s.e.c.'egulate crypto and said the industry is scared of a strong s.e.c., and the crackdown is why the industry is spending millions each year lobbying to escape s.e.c. oversight they called for the department of energy and epa to require crypto minors to disclose their energy use and environmental impact she said banking regulators need to ensure the banking system is insulated from the risk of crypto fraud she also said congress needs to give regulators the resources they need to get the job done. >> i am not willing to trade the life savings of millions of retail investors, the integrity of our energy grids, the soundness of our banking system or our national security for a bunch of hyped up promises >> warren also said she wants treasury's financial crimes enforcement network to be able to force crypto firms to operate under the same anti-money laundering laws as banks and other financial institutions >> some tangible ideas there see what she gets. thank you. >>> one name we're watching i

the litigation against the s.e.c. is moving along quite swiftly.he fifth circuit announced oral arguments for our case would be heard on march 7th. so moving things along quite quickly, and i think really on an expedited timeline. it's wonderful to be back in d.c. new year, new congress and our team is really here meeting with both sides of the aisle, both houses of congress, and really continuing to advocate for investors this is a really important issue, and it affects millions and millions of investors that own gbtc directly, through etfs, through mutual funds >> what would you like to see, and the feet dragging, i don't see any with gensler and everything else. i don't see the regulations you need to finally get to where you want to be seemed far off. is it 2023 when you think we'll see something? >> we're certainly expecting a decision from the courts in q2 or q3 of this year but i think the frustrating thing for investors and certainly for the grayscale team is that we're actually a business that was born in the u.s., made use of existing u.s

the s.e.c. doesn't take action against them until april 2021.at, that santos was alerted to possible fraud at the company. >> and this isn't all the investigation found. what was santos saying at the time about harbor city capital? >> when he was running for office in 2020 he said a number of things about his time at harbor city. he called himself the head guy in the new york office. he said he was an executive. interesting, he also claimed that he was posting for all of these customers, these massive massive returns. let's take a listen to this clip from 2020 and what he told one interviewer. >> currently, at harbor city capital i manage a $1.5 billion fund, right? and i know how to manage it well. i give rapid returns. to anybody who watches this, they will understand i'm giving, you know, a 12% fixed yield income a year, which nobody in the market is giving four, and we are giving 12. we are giving up to 20 to 26% in irr return on our investors' capital. >> so we reached out to mr. santos, congressman santos now, a couple of times over text m

the former s.e.c.hat we got here a month after your interview in the bahamas, but why weren't we here regulating crypto or having an insight in the pastm the regulatory failure with bernie madoff is mind boggling and then you have people who know better. sophisticated financial people taking other people's money, and investing it you better know what you're investing it in, and people look the other way. i mean, madoff -- >> sorry go ahead. >> i need to thank you, you're a great director and producer, so you know this better than i do, we're up against a hard break, unfortunately. >> i hear you. >> i want to wish you lots of luck with the film it is called "madoff the monster of wall street. >>> i have a public cameo in it myself. >> i do. and happy birthday to your daughter sydney. >> you're very nice to say that, joe, thank you very much we look forward to seeing the film i should say series. >> you're even in the meghan markle thing. >> i am. >> on netflix. >> on netflix. >> you're like everywhere.

answer itt ths this way. >> they didn't gary gensler come from goldman sachs beforei' he joined the s.e.ct sounds like a revolving door in the biden administration between wall street and his administration. >> all right. i want to i want to switchs. topics here real quick. witctomorrow, we expect footage to be released in the attack of the paul pelosi case. a judge in california has ordered the release of the video of the attack on the husband of the former speaker of the house, nancyir pelosi, inside their san francisco home. fr but why such a delay?ago. this happened a while ago. this is been a real fight g to get these this body camera footage out the door. >> yeah, i mean, this is horrific. what happene d to speaker pelosir husb and her husband.an >> and it's you know, it's awful. what's, it's happened to him. >> but if if it is routine forhe these body videos to come out am to the american people, if it's routine to produce them ina req response to media request, you have to ask k, why are they delaying it here? why is why are they dragging drh their feet? why do we haveet? why do w

i reiterate that the s.e.c. is very, very flegtive on this group.nd i think that we're going to see many people coming forward trying to race to the, let's say, to the court and before someone else does for some of these other companies and this industry must be avoided. >> s.e.c. aggressive on former mcdonald's chief, steve easterbrook. we'll talk about that later. what's on tonight? >> i've been doing utilities because there's so good. best performing stock of this group is connicon conagra. food doing incredibly well we have to be careful because as we readjust, the companies that had high multiples, they're just going to keep going lower. every time you get a chance. >> high multiple names >> yeah. >> jim, nice to have the three of us back. >> terrific. >> we'll see you tonight, "mad money," 6:00 p.m >>> when we come back, pfizer's chief live from the jpmorgan health conference with the dow up 116 my ameriprise advisor has helped me navigate uncertain times before, now is no different. with his advice, i'm confident i'm on track. the plan we cre

. >>> meantime in crypto land, the s.e.c. charging genesis and gemini with selling unregistered securities with two firms partnered in 2021 on the project called earn with yields up to8%. it is like an interest product according to the s.e.c., genesis loaned gemini users crypto and sent a portion of the profits back to gemini they sound the same. and deducted an agent fee and returned the profits to users. the s.e.c. saying genesis should have registered that product as a securities offering. the leaders of the firms, the winklevoss twins and barry silberg have been at odds after a function wiped out gemini's earned customers in the next hour, we talk to the former chief of the s.e.c. enforcement branch about this case it raises questions about what genesis and gemini were doing and why the s.e.c. to some degree did not act sooner. this was a publicly available or known product. it wasn't being done in secret you can go on to the sites and see the product. now a question of what will happen to all of the customers the other p

musk also claimed he told the s.e.c. it, though, during that initial investigation meanwhile, also musk was renewing his tiff with jpmorgan, saying the bank "hate tesla and me very much." there's the full quote on the screen after tesla withdrew its commercial banking business from j jpm. jpm, by the way, is suing tesla for $162 million, saying the company owes it for business done several years ago this trial, the shareholder trial, is expected to last another week or so, sara, but musk is done testifying for now. >> so much drama now dimon versus musk. steve, thank you >>> up next, cantor fitzgerald ceo howard lutnick on whether the rally on wall street is sustainable and whether he thinks the economy is heading for recession. get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown away by what they could do. getrefunds.com has helped businesses get over a

the following year the s.e.c.c ponzi scheme, santos' lawyer said he was just as disturbed as everybody else about those allegations. that's just the latest news, though. james comer said if santos broke finance campaign laws he's out. >> look, he's a bad guy. this is something that it's really bad. he's not the first politician unfortunately to make it to congress to lie. it's despicable the lies he told. but at the end of the day it's not up to me or any other member of congress to determine if he can get kicked out for lying. if he broke campaign finance laws he will be removed from congress. >> so losing his job may be the least of his worries with so many investigations mounting. we have two pros who know about these allegations specifically and they're joining us now, larry noble and jennifer rogers. good morning to both of you. larry i'm going to start with you. what is the biggest legal threat facing santos right now? >> good morning, don and poppy, thanks for having me. probably the biggest legal threat, q

the s.e.c. accused it of running a classic ponzi scheme. the s.e.c.ny's assets. he's denied alleged wrongdoing. he also worked for the company under a different name. what do you make of these latest developments? >> what's important going into these things, it goes into the character of his campaign, but one other thing that's important to recognize is what money his pac has raised and given out. that's another part of the campaign finance thread that we'll get. he gave out over $200,000 from a pac that he also contributed to himself. i think that when we start looking at these corporations that he worked for, the scandals around them, it will all lead to the money that he got for his campaign and pac. that's the only way congress will get rid of this guy, based on criminal charges, not on him resigning. >> thank you both. >>> turning now to a tragedy in the world of college sports this morning. it was supposed to be a jubilant weekend for fans celebrating the university of georgia football team and their second national championship. but celebration

certainly the s.e.c. does not come out looking great here because if ftx indeed is a security, or ftt i mean, then they are shugt the barn door after the horse has left so the best question, are they already protected through enforcement of existing laws >> there is a lot of issues around that. and i'm not sure that gary kinsler is right that there is no sort of change in law required that is where he is. but if he's right about that, he needs more resources or he needs to uptick the rate of enforcement because you still have enemies out there coinbase which i've thought of as the gold standard of being smart and prudent about what they do just had a $100 million settlement with the new york state banking authorities. no one knows what is happening inside binance and that is not a good status quo. and as you know, ftx was not a u.s. entity. it was in the caribbean. and so it does feel like there is one way or another either through more enforcement or more clarity in the law a way to avoid people losing t

that ultimately led to the s.e.c. getting involved.ere is some kind of regulator who gets involved, whether it's the s.e.c. or nitsa, and they have been investigating the autopilot technology at tesla, then there are real implications. otherwise, we've heard these allegations and these claims from people either who worked at tesla or who have tested out autopilot who said, will look, this is not the system he purported it to be, it's completely full self-driving it's not we have known that for some time the question becomes when does a regulator say, okay, enough is enough, we are going to step in. >> all right and stay there if all of this wasn't enough, the company reports results on wednesday. we call them earnings, but i don't know analysts expect growth of 30% on the top and bottom lines we know that tesla delivered more than 400,000 cars in the quarter and, of course grocery prices margins will be the key things to watch as price cuts as much as 20% on some models some of the famous marlboro price cuts 30 years ago. marlboro frid

., all kinds of things, and i think it is significant in that the s.e.c.of misbehaved a lot and the question is, can they prove this, can they say he did this on purpose, to manipulate the stock? that's a more difficult thing. and that's what is at stake here. i suspect it is going to be a hard thing for the investors suing him to do, because it's just going to be hard. it's a difficult thing. obviously you have to prove it that he did it to allow the stock to go up and down. >> is is all worse now because of the way he handled twitter and the criticism he faced over what he is saying on twitter, who he is going after, the things that he is tweeting that he deleted later? >> it is interesting, because that's his argument, that it is not fair, the trial is not fair in san francisco, which he tried, he has been trying to do, and it is like saying i'm a jerk, i was a real jerk, i've done jerky things, and you shouldn't put me out there because people think i'm a jerk. and i think they are not going to let him off moving to texas where he has a friendlier jury

the question is what exactly is the s.e.c.ortedly looking at is there a specific statement or statements it's unlikely that they are just going to probe him saying some day there will be self-driving cars it's was there a specific ford looking statement? we don't know at this point. one thing we can tell you with certainty and even tesla would admit this if you asked them, they do not have fully autonomous vehicles. they don't have them right now will they have them in the future potentially. but there is no guarantee of that and if at the end of the day -- i get this question from people all the time, autopilot drives the car, no, it doesn't it's a driver assist system. that is important to keep in context here. >> you sound like a broken record because you've been saying that for years. how many times have we talked about it to your point it's interesting they are looking into it now. >> yes. >> phil, we have to hit this crazy move in lucid. nearly doubling at one point today. clearly there is a massive short squeeze going o

however, this group did not appear to be registered with the s.e.c., as you said, in the opening segment, and in fact, no ads have actually been placed for it. so that certainly leaves some really big questions about this group and where the money actually went. >> ali, where does the ethics investigations stand, right? how did that move forward? when we would know more about anything muscular coming from those? >> well, look, typically this is a process that happens behind closed doors, ekts ethics investigations are shrouded in mystery but this, on the house side is evenly divide between republicans and democrats and that's why we're so closely tracking the republican reaction to santos because that could give us some idea potentially of what people could do out of the ethics committee. you listen to democrats, too and you had clyburn on, he is echoing what other members like leader jeffries and other key members are saying, yes, they agree that george san dose doesn't have a place and shouldn't have a place in congress but this is republicans' mess to clean up. >> that message loud an

he's an 18-year enforcement s.e.c. consultant now, calling for a sweep. he says the s.e.c. is going to sweep everything, which is why i'm telling everybody, get out of these michael, in his excellent review, "eye on the market" was talking about some people were saying jpmorgan had a dalliance with this. i can tell you, personally, i went to the highest level, please, please, and they said, no, we're not touching this. and i think that that's been the way that it's not a shock. because the banks have been the leaders. they're anti- -- this is not even fintech i think a lot of people feel like john stark, that it's just a giant scam >> do you think bankman-fried will be material to that round-up >> very much so. i think everybody's in on it, and i know that's a very harsh charge, but if it's a ponzi scheme, and it's falling apart, i'm sure there's some honest people we all know honest people are in crypto, but i'm not calling for a crypto collapse. i'm calling for collapse of the people in on the ponzi scheme that john stark talks about, and he's laid it out follow him on tw

. >> let's get to charge point this is one of the biggest moves in today's session after an s.e.c.ing revealed qgrg investment partners bought more than 1.4 million shares of the ev charge tech maker mike >> options trade was actually even bigger because there was a purchase of 46,500 that represents 4 hadn't 6 million shares of the stock. this also bouncing off its low interesting because that houston company founded to make structures in oil and gas. they're obviously pivoting to a more forward thinking green energy play here >> guy >> cto resigned recently i don't think that's necessarily a good thing there haven't been a lot of positive catalysts in an environment where there pretty much should have been. so i see mike talking about the call, people buying it at 10 bucks tom me it's wishful thinking. >> let's get to a couple of etfs with big options tied to corporate debt both impacted as corporate bankruptcy rates have been on the rise mike, what did you see >> jan 87 put. lqd was the one that saw the much bigger trade. to put things in perspective, that would hit levels basic

there's no s.e.c >> right >> but it's okay i mean, look, you can bet.d you can say, you know what? people are saying that elijah mitchell is not going to play for the niners, and so therefore, maybe you should get three, but it's two and a half you can spread whatever you want that's that market you can spread that mccaffrey's not playing and then, you know, take a new line. there's no -- no one's going to say, hey, you can't do that. >> it reminds me of this piece in "the journal" today, regarding tesla options, which account for 7% of options any given day, often at prices that are almost lotto-like, jim >> maybe this is just spare money. you mentioned tesla. i go baack to that conference call the old conference calls just made fun of analysts, and they were historically -- they were just comical it was great the new conference calls are perhaps the most thought-out of almost any conference call, maybe fabrizio from estee lauder he just ticks down, raw costs, competitive costs, battery power, i mean, it's -- the thorough nature and the seriousness wit

i think it's the s.e.c. i always thought it was the s.e.c. we got a lot pushback from my friends on the other side. i didn't hear them quite today pushing back as they normally do. i would love to see that. again, someone has to regulate this if it's going to exist. don't you agree? mr. ray: i certainly think there has to be more controls in this sector. who should regulate it i defer to this committee. mr. vargas: with that, i yield my time back. thank you. chair waters: thank you. the gentleman from texas, mr. williams, is recognized for five minutes. mr. williams: thank you, madam chair. thank you, mr. ray, for being here. appreciate t there's been many comparisons that have been made as people examine what happened to f.t.x. from bernie madoff to enron it looks like this will go down as one of the largest frauds in history. mr. ray, you are in a unique perspective on the fact you have worked on the enron bankruptcy. i would be interested real quick if you talk a little bit real quick about how it compares. you got cut off in the early tim

georgia, i could not be prouder of the team or happier for our state because the dawgs are on top of the s.e.c. and all of college football once again. go, dawgs. i yield back to the congresswoman. thank you. mrs. miller-meeks: thank you. it was difficult to yield. hi to pause a little bit as a t.c.u. horned frog to my colleague, in the spirit of camaraderie i did so. thank you, mr. speaker. i yield back. the speaker pro tempore: the gentlelady yields back. the chair recognizes the gentleman from virginia, mr. cline, for five minutes. mr. cline: thank you, mr. speaker. i rise today in support of the protecting america's strategy preserve from china act. which will work to unleash american energy dominance. in an election year gimmick, president biden raided oil from our strategic pre petroleum res. allowing it to be sold to a company affiliated with the chinese communist party. selling off american oil to the chinese communist party for its own strategic use poses a direct threat to our national security. the petroleum reserve is our unshierns card, to protect our country during national emerg

the s.e.c.nies accused of failing to provide clients detail disclosures. >>> tesla cutting prices on its cars again this time in the united states by as much as 20%. biggest cuts coming to the model y and model 3. >>> boeing 373 max yet taking off in china today why do we note it? it is the first time it has happened since 2019. china was the first country to ground the 737 max >>> and shar galactic popping after launching the commercial service in the second quarter this year that stock up 30% so far this year. >>> let's gear you up for the trading day ahead and next week and discussing earnings from the banks with bank of america and wells fargo and goldman sachs. earnings from delta airlines and we have neel kashkari speaking today and patrick harker as well let's bring in our friend greg branch and call it opportunity greg, good to have you back on we are talking earnings. it happens every three months. it seems to be important this time because everyone is negative what are you watching the

in the previous period, he was in trouble with the s.e.c.r his tweets, on top of all those other things i think up to step back and say are they the industry leader much like coach in the old days that had huge margins, it attracts competition that's good for the end consumer and ultimately good for tesla. >>> very, very intriguing. you say in general the market is presenting a lot of opportunities like this. i'm looking again at all the different projections. one of the smartest oil analysts thinks we could have at year-plus on the oil run before a crash. they're not sure how they're going to time this, and how to get out at the right moment. >> you have seen it's time in the market we made some shifts in or port portfolios we had been out with the bond, so we've been moving them in short ladders. in addition to that, we've been focusing them in the equity market in our dividend growth strategy that has been an historically good place to be we're buying the fastest-growing dividend yields. that gives us information -- what management is thi

the last time tulane was in a bowl game of this magnitude they were in the s.e.c. and world war ii hadn't started yet. it's been a minute since they've been on this stage. >> catch tulane versus usc in cotton bowl and then penn state versus utah back in the rose bowl. both on espn. >>> 2023 is shaping up to be stand-out year for concerts. with some of the world's biggest stars on tour, with taylor swift, beyonce, bruce springsteen all hitting the road. here's the lowdown. ♪ >> reporter: it's what we all been waiting for, 2023 is bringing the music back to us bigger and better than ever. ♪ late night talking ♪ >> reporter: and starting as early as next month, music's marquee names will once again take their rightful place on the country's biggest stages. ♪ turn back the hands of time ♪ >> reporter: the boss, or you may know him as bruce springsteen, returns to arenas on february 1st in tampa, the legendary performer known for his four-plus-hour shows, promising an old-school tour. ♪ rockers paramore hit the road for a world tour that technically kicks off during sup

man, because santos received payments from a company out there called harbor city capital that the s.e.c. accused of running a $17 million pyramid scheme. santos insists it was not a scam and that he is, in fact, a pyramid. ( laughter ) ( applause ) santos-- >> louis: just keeps coming. >> stephen: applaud. applause for that joke. see the minute-by-minutes on that one. santos is such a liar that yesterday, the long island g.o.p. themselves held a press conference demanding that he resign forthwith. but this morning, santos said he's not backing down. >> i will not resign. i will be continuing to hold my office elected by the people. >> do you feel you will be able to serve your people. >> stephen: okay, looks like he tripped there, but according to santos, he didn't. he was just kicking in the winning goal at the world cup. ( cheers and applause ) goooal! so santos says he's staying put. though as reporters continued to chase him around the capitol, he seemed to leave an out: >> will you resign if the voters-- if the voters call-- >> if 142 people ask for me to resign, i'll resign. >> st

also agreed to a five-year ban from serving as an officer or direct over a company reporting to the s.e.c> traf backing to normal in the suez canal a ship carrying grain from ukraine ran aground. tugboats were able to toe it out of the shipping lanes. >>> and "avatar: the way of water" brought in over $500 million over the weekend it brings the movie's total to over $1.7 billion, making it the seventh highest grossing ever, but $600 million bigger than jackpot now for mega millions. >> which we know you like to play, bertha coombs. >>> investors are flocking to chinese tech as the country opens for business is there too much optimism. >>> cnbc's coverage is going to cover stephane bancel, moderna's ceo. for more you can hecht over to cnbc.com/probe to find out the names. we're back in two. the markets were left higher for the first week tech and consumer discretionary, health cares are laggards. every member of the sma is higher today, and the eff is back above the two-day moving average. abercrombie & fitch on pace for the best day since november after raising their guidance that stock d

santos himself was not named in that s.e.c. complaint and has denied any malfeasance at the firm.allegedly have an alleged ponzi scheme, but george santos went from earning $55,000 a year to earning an annual salary of $750,000 a year plus dividends, enough money that he had enough money that he had the ability to lend his campaign $700,000. the question is where did george santos get all of that money. weeks after the complaint against harbor city capital, he organized a new organization in florida, devolder corporation. that was his mother's maiden name. it's unclear if he included himself in that group. santos lists devolder as the source of the bulk of his recent financial windfall. here's the thing. we really have no idea what devolder actually does. we know money came out of devolder, but we don't know how money got in there. we know that a super pac called redstone strategies which claimed to have the singular purpose of electing george santos, that super pac was raising money but did not appear to be spending it. the fact -- in fact, the fec has no record of redstone's str

political donations to individual politicians as well as super pacs we've got family connections with s.e.cpeople i mean how tangled is this ftx web? >> it's enormous, brian. you follow the docket in this bankruptcy hearing you know, you get these automated alerts every time a new docket entry is filed. i can't tell you my phone has been beeping, buzzinging on the desk constantly there are documents being filed just about hourly in this case it is an enormous amount of material for them to get through. we expect a battalion of lawyers in wilmington, delaware, today we'll see if we get any principals and who are the creditors. who are all these account holders? one of the questions in that, brian, was fascinating when they first addressed it at the first hearing last fall, which is a lot of these account holders may be in china, and, of course, under chinese law, it's not legal. therefore, their names being exposed in this hearing could be a problem for them domestically in china a lot of those chinese individuals might not want their names made public. unclear if the u.s. court takes that i

the last time tulane was in a bowl game of this magnitude they were in the s.e.c. and world war ii hadn't started yet. it's been a minute since they've been on this stage. >> catch tulane versus usc in cotton bowl and then penn state versus utah back in the rose bowl. both on espn. >>> 2023 is shaping up to be stand-out year for concerts. with some of the world's biggest stars on tour, with taylor swift, beyonce, bruce springsteen all hitting the road. he the lwn >> reporter: it's what we all been waiting for, 2023 is bringing the music back to us bigger and better than ever. ♪ late night talking ♪ >> reporter: and starting as early as next month, music's marquee names will once again take their rightful place on the country's biggest stages and stadiums, reingniting the live music experience. ♪ turn back the hands of time ♪ >> reporter: the boss, or you may know him as bruce springsteen, returns to arenas on february 1st in tampa, the legendary performer known for his four-plus-hour shows, promising an old-school tour. ♪ rockers paramore hit the road for a world t

>> in a different format, they will some will have adjustments through the s.e.c. there's going be adjustments >> it will be safer? >> it will be safe if you chose not to go into the ipo, you could choose. and -- >> there's a sense they didn't do as much due diligence as a traditional ipo. >> i don't know. i don't know how much diligence the average investor base gets on an ipo. they get a road show and have to put their order in i don't know if it is different. it will be restructured. but the idea of putting your money into treasury and the downside, if you don't like the deal, you get the money back and get a choice to go in. it's not easy. and most of the spacs, the investors that went in are getting the money back right now. i wish i had all my money in treasury bills the last year the spac entrepreneurs got crushed. those are people who choose to take the risk. >> bankruptcies. do you expect to see more of that >> yes there's many companies, even quality companies, that set up capitalization based on -- >> party city, right >> yeah. >> bed, bath & beyond. >>

and you can see from these tweets, players, other teams, the s.e.c.missioner speaking out sending condolences, prayers and encouragement on this difficult day. isabel rosales, cnn, in athens, georgia. >>> authorities in nepal say they recovered the flight's data recorder, one of the so-called black boxes from the crash on sunday. the box will be handed over to a civil aviation authorities. early on monday, search and rescue operations resumed for four people who are still missing and one official warned the chances of finding them alive are extremely low. of the 72 people on board, 68 are confirmed dead. including six children and 15 foreign nationals. one man who saw the plane going down described what happened. >> translator: we heard a loud, thunderous crash and reached our terrace to see what had happened. we saw a lot of smoke and realized it was an airline crash and we rushed to the site. though i stayed back from where i could see the debris, my friend went down to look for survivors and took out at least 35 people. >> well, we are joined from

i think we need to get regulatory clarity which i think we have been vocal about the s.e.c.uld get around understanding the benefits of understanding spacs. it got overdone. >> there are benefits of spacs. >> it's another path for certain types of companies to raise money, and, again, if you got a really good management team, the company was ready to be public, and you've got a sponsor that understands how to underwrite, then you can get good outcomes, and just the problem is way too much capital, chasing way too many deals at ridiculously inflated price points, and that's not sustainable. >> and it came out is the froth out of this market? >> the froth is definitely -- i don't want to say it's out completely listen, again, i go back to these bellweather stocks in the faangs, down as much as they are, a lot more work to understand that people have derisk in their portfolios, so in this year, you actually get to be able to pick and choose your spots it's a lot less frenetic on the way up on the way down, you feel like you're missing something, should be doing something you ca

the investment bank revealing the figure in an s.e.c. filing on friday.he made about $35 million, compensation tied to the bank's performance. tennis star novak djokovic winning his tenth australian open, cruising the final match in three sets, bringing him to the record tying 22nd grand slam. >> that's it. [cheers and applause] cheryl: all right. a huge win for the serbian star. you can see him climb up into the stands, hugging hugging ang fists with teammates. he's now tied raphael that del. the video you're seeing over the good times back in january of 2022, stark contrast, this year versus last. remember, he was deported from the country for refusing to take the covid vaccine. yeah, good times for novak djokovic, then and now, maria, a year has gone by. maria: i think that's why a lot of people were happy because first they wouldn't even let him into the country. they were pushing back on him because he wouldn't take the vaccine but he stuck to his principles and ended up winning, there you go. cheryl: now all of the grand slams need go back to the wa

the s.e.c.estigated whether burr violated federal insider trading laws by selling more than $1.6 million in stocks before the market crashed during the early stages of the pandemic >>> one of the lawyers defending alex jones has been suspended from practicing law in connecticut for six months for improperly sharing confidential documents. according to a judge, he failed to safeguard sensitive records of the families involved alex jones has been ordered to pay more than $1.4 billion in damages after a jury trial last year >>> and al roker returned to the today show after being away for two months he was admitted to the hospital for a blood clot in his leg. it was the first time in 27 years he hasn't been at the helm of the thanksgiving macy's day parade >> al is one of the great guys in our business and we're glad to see him back and healthy again. thanks. >>> ahead on "power lunch," will 2023 be the year of major market reversals? energy had a big year. can it repeat that year? the broader marke

why do you ask the s.e.c. to investigate this in particular? >> well, of all the 535 members of congress, both in the senate and the house, there is no one who pose as greater threat to the integrity of congress than george santos. we know he has lied about every aspect of his life, but even worse than his lying is his possible law-breaking. and for me, the $700,000 question is where did all the money come from? a decade ago, george santos was a wage earner at a call center accumulating thousands of dollars in debt and facing repeat evictions. as late as 2020 he reported a salary as much as $55,000. miraculously in 2021 and 2022, he became a multimillionaire. he claims to have earned millions of dollars from clients, yet he disclosed the names of none of the clients on his congressional disclosure as required by federal law. and that's why i filed an ethics complaint against george santos for falsifying his financial disclosure. but we're finally getting a clearer sense of exactly how the money flowed through various entities ultimately into th

the company in a position to potentially have issued equity the s.e.c.shed that at the last moment. but there was recovery value on hertz. >> there was, absolutely >> in part, because used car prices at that point were soaring as well. >> there's chapter 7 versus chapter 11 i think that bed bath is in trouble enough they might want to liquidate the people who are buying it right now, they remind me of another era, the gamestop era. >> is that an era now? >> it's a centozoa era >> as we go to break, let's look at bonds what a busy morning between cpi and disney but cpi did come in down 0.1% as some banks did forecast. ten-year did dip below 3.5%. still lower. back in a minute yeah, let's redo the basement. hello home movie theater. (laughs) spare bedroom. why not both? use the u.s. bank mobile app to apply for a home improvement loan. it's easy! wonderful alex! hey, that's what u.s. bank is for. anything else? how about a loan for a bigger car? our family is growing. awe. yeah, my brother's moving in with his five dogs. oh... heyo! and we're expecting. ah

one connects him to a company, the s.e.c. says defrauded its investors. the second links him to the cousin of a russian oligarch. the "new york times" says some of this was known last year when a background study on santos found "fraudulent academic degrees, involvement in the firm involved in a ponzi scheme, malt pot convictions suspension of driver's licence all knowing he was openly gay had been married to a woman." bringing in msnbc's reporter and a former prosecutor and msnbc legal analyst and david jolly, former republican congressman from florida and msnbc political analyst. we pointed out repeatedly highway the biden and trump documents, actual facts of the cases are very different, but i want to play what jim comer, head of the oversight committee said just yesterday. >> well, my concern is that special counsel was called for, but yet hours after that we sill had the president's personal attorneys who have no security clearance still rummaging around the president's residence looking for things. i mean that would essentially be a crime scene, so

and you'll take a look at shares of tesla over the last three months remember, tesla did settle the s.e.cse take private tweets it involved elon musk paying $20 million and a fine and also giving up chairmanship of tesla. we will hear from elon musk wednesday afternoon. at least that's the expectation after the company reports its q4 results, and again, there's so much of that conference call will be focused on auto gross margins. that's really what investors in tesla right now are focused on they're not as much focused on what's happening with this lawsuit? >> what is the up shot of the lawsuit? what is at stake for tesla and shareholders >> with regard to this lawsuit >> yes,with how this goes. >> remember, these are in investors who their claim is, look, we lost money because we believed that you had this locked in to take this company private, and as a result whether we were trading on the stock or trading on options, we lost money when we found out that you didn't have this locked in so when you say funding secured, you're responsible for the losses that we incurred as traders. elon

and you can see from these tweets, players, other teams, the s.e.c.eaking out sending condolences, prayers and encouragement on this difficult day. isabel rosales, cnn, in athens, georgia. >>> police officials say the black box from the airliner that crashed in central nepal sunday killing 68 people has been recovered. six children, including three infants were among the victims. we're live from ne delly with the latest. do authorities have any idea what caused this plane to crash? >> reporter: not yet, christine. it's going to take a while, but it's good sign, in fact, good indicator that they retrieved the black box. that will be very vital in the interrogations. we do know from the government in nepal that there is a five-member committee that has been formed to probe this accident. they have to submit a report within the next 45 days. meanwhile, on the ground, it's day two of search operations. we do know that cranes are being used, christine, to recover those bodies from the gorge. about 67 bodies have been pulled out of the gorge as of now, acco

looking at this game and breaking down the matchup was last season georgia against alabama in the s.e.ce threw for over 400 yards, had three touchdowns. the pass rush really wasn't there. and then of course in the rematch in the national title game, georgia's defense just looked completely dominant, like it had all season. they sacked bryce young four times. he threw two interceptions. i just think kirby smart is such a master game planner, that he's going to look at that film against ohio state, be able to clean up the issues in the pass rush in the secondary, and just really be able to clean that up. and i think georgia will win in a close one. i would love to see tcu premiere on though. >> me too. thank you for joining us this evening. i'm pamela brown. see you again next weekend. the cnn original series, "giuiuliani: what happened to america'a's mayor" premieres rit now.w.