azzam ahmed, let me start with you, back to what senator pat roberts called a bomb that had been dropped into the hearing, this testimony. first of all, who is terrence duffy, the witness who presented that testimony? and what is cme-global? >> terrence duffy is the ceo of the cme group which is the exchange where mf-global does most or did most of its business. transacted most of its trade. they are also what is called a self-regulating... self-regulatory organization so they're responsible for regulating mf-global and ensuring that they comply with various laws. >> woodruff: what exactly did duffy testify today some. >> it was strange because initially it seemed like a bombshell, like john corzine knew about the misuse of funz but upon further examination it seems that he was merely saying john corzine knew that money had been transferred from customer accounts to another division in the company. that on its surface is not necessarily illegal. there are legal reasons for it. so while it was clear his implication was to say that mr. corzine somehow knew what was going on, it fell short

woodruff: jacob frankel and azzam ahmed, we thank you both. >> thanks for having me. >> thank you.>> >> ifill: in russia tonight, more political turmoil and challenges to vladimir putin's power. margaret warner has that story. >> warner: it was a scene without precedence since putin came to power in russia 12 years ago. tens of thousands of people demonstrating saturday in moscow and other cities. >> people want fair elections. people feel that their vote was stolen. >> warner: the crowds accuse putin's united russia party of fraud in the parliamentary elections held december 4 and demanded they be recounted or rerun. they expressed growing anger over corruption and one-party dominance of the russian government. the protestors' unhappiness was galvanized last september when prime minister putin announced he would run for a third term as president next year. switching jobs yet again with the current president medvedev. in response, finance minister kudrin resigned and criticism swelled on russian internet sites. last month putin was booed by spectators at a martial arts event in mosco