flash crash fukushima the b.p. oil spill all what our guest calls unknown unknowns or is donald rumsfeld once said things we don't know that we don't know so how does an investor hedge against these risks tomorrow is thanksgiving and you know you don't want to be a turkey on thanksgiving we don't want you to be a turkey so here to talk about what you need to know about volatility is chris cole managing partner of artemis capital management fund and this is his specialty so first thank you so much for being on the show we saw you and jim grant's conference you were amazing so thanks for being in our l.a. studio thank you it's a great honor to be here today oh it's an honor but that's so nice to say now you're flattering me ok so let's start with the vix because we hear so much about the vix is the gauge of volatility for the stock market we hear about how low it is in some investors say this is a sign of complacency but when we're talking to you to establish this what is the volatility quite simply well you know it's in

oil giant b.p. ed to plead guilty to criminal charges and pay a record $4.5 billion for the gulf oil spill of 2010. it was all part of a settlement with the federal government. and former c.i.a. director david petraeus denied he gave classified information to the woman he had an affair with, paula broadwell. he spoke to cnn, in his first remarks since resigning last iday. >> brown: online we look at this year's national book award winners. kwame holman tells us more. >> holman: louise erdrick was honored with the fiction prize for "the round house." she talked with jeff about her novel recently. watch that interview on art beat. also there are conversations with finalists robert caro, kevin powers and junot diaz, and a recap of the winners. and how does your view of the 2012 election results compare with others around the country? together with the pew research center, we've built an election report card-- you can take the quiand share with friends. hari sreenivasan talked with pew's andrew kohut. an

b.p. is still one of the leading providers of oil and gas at the pentagon and while families of the victims seek justice for those they lost both b.p. and the u.s. department of justice are very quick to pass the buck you see to b.p. workers are being accused of disregarding abnormally high pressure readings that indicated a potential for a bigger problem on the deepwater rig both of these men are being held personally responsible for the disaster and are being charged with manslaughter and that's exactly the problem here i'm not saying that negligent should shouldn't be punished what i am saying that this is a perfect example of how a giant influential corporation can get away with pretty much anything and lay the blame on its employees instead of actually taking real accountability these two men are not the ones who decided to spray a highly toxic dispersant across the entire gulf that arguably caused more damage than the oil itself they weren't the ones that outsourced slave labor to do photo ops of cleanup efforts the list of b.p.'s criminality goes on and on and while these men are not

just saw all these effects are so massive whether it's b.p. . oil. the tar sands i think that the size of florida is from an alberta i was really interested in the tar sands protests this summer because to see thousand plus people getting arrested like that willfully is pretty amazing fred a mess. all of you to bury your is tar sands oil is not at the gulf in order to get tar sands oil you ask to destroy the ark and so i think that you know fine stop the pipeline but what happens after that you know another standoff with big oil i think so i think so i don't think it's the environment's going to magically go itself because we stop the high price and then the thing about the pipeline is and one reason that makes this so urgent is that that nasa scientist james taylor said the brokaw boring are actually a few decades past ever says the pipeline it will be game over game over again so i didn't come up on you know how to build. wealthy british style. time to. market why not. come to. find out what's really happening to the global economy with mikes conce

i'm a professor and expert on oil, and the observation of b.p. paying $4.5 billion is one week, that's one week of revenue. we have 20,000 rigs in canada. we don't have these explosions. and the situation, this is equivilent after the blow up in texas oil refinery, level with this. this is equivilent of a drunk driver whose third conviction, kills 10 people and is charged $2.50 fine. the fine for this should be at least, at least $40 billion. that's number one, number two -- host: do you think the fines will get up that far in the civil case? caller: we're in the oil business. b.p. is the largest producer of u.s. oil. they're a $200 billion company. you're talking about a company that has revenues five times that of apple worldwide. the largest producer of oil in the united states. i tell you this, we have 20,000 rigs in canada. we don't have explosions. they've had explosions in brazil, it killed 15 in texas. they save money. and then when oil was $65 a barrel, $100 a barrel buzz the gulf was closed off, so it was profitable. they should bar b.p.

truth and the sooner we come to know the we'll just all these effects are so massive whether it's b.p. . oil. the tar sands i think of the size of florida this from an alberta i was really interested in the tar sands protests this summer because to see thousand plus people getting arrested like that willfully is pretty amazing friend of mine. just all of you to tell you is tar sands oil is not the gulf in order to get tar sands oil to go out to destroy the arctic and so i think that you know find some of the pipeline but what happens after that you know another standoff with big oil i think so i think so i don't think it's the environment going to magically go itself because we stop the high price and then the thing about the pipeline and one reason that makes it so urgent is that that nasa scientist james hansen the brokaw during originally a few decades back. says that the pipeline is it will be. game over i mean side in her on you know how to boil right. will two parties keep us politics a one way street. or will new voices disrupt the power of power and. what if america changes trucks to

back to the sooner we come to know the will just all these effects are so massive whether it's b.p. . oil. the tar sands i think that the size of florida is from an alberta i was really interested in the entire sam's protests this summer because to see thousand plus people getting arrested like that willfully is pretty amazing fred. message to all of your data. is tar sands oil is not at the gulf in order to get tarzan's oil you ask to destroy the art and so i think that you know fine stop the pipeline but what happens after that you know another standoff with big oil i think so i think so i don't think it's the environment's going to magically go itself because we stop the pipeline and then the thing about the pipeline and one reason that makes this so urgent is that that nasa scientist james hansen broke or actually a few decades back for whatever says that the pipeline is it will be. game over again so i didn't crack up on that inhabitable area. mission in three cretaceous three and four charges free. range mission three. three stooges free. download free broadcast quality video for yo

just all these effects are so massive whether it's b.p. . oil. the tar sands i think the size of florida is from an alberta i was really interested in the tar sands protests this summer because to see thousand plus people getting arrested like that willfully is pretty amazing right. a message to all of you to tell you is tar sands oil is not half the cult in order to get tarzan so out you ask to destroy the art and so i think that you know find some of the pipeline but what happens after that you know another standoff with big oil i think so i think so i don't think it's the environment's going to magically go itself because we stop the pipeline and then the thing about the pipeline and one reason that makes this so urgent is that that nasa scientist james taylor said the bro could warrior actually a few decades back for whatever says the piper and it will be. game over me inside and out on the inhabitable earth. or you. can. tell me. which. download the official ati application so choose your language stream quality and enjoy your favorites from

three b.p. oil company employees appeared in federal court today, heo of them charged with 11 counts of involuntary manslaughter. those are for the 11 crewmen killed in 2010 when the deepwater horizon explode excluded and sank in the gulf of mexico. the well ran wild for more than 80 days, unleashing the largest accidental oil spill in history. mark strassmann is covering the courthouse for us in new orleans tonight. mark. mark. >> reporter: scott, this prosecution moves away from the b.p. spill's environmental and economic impacts. instead, its the preventable deaths of 11 people. bob kaluza oversaw safety for b.p. aboard the deepwater horizon when the rig exploded. >> i did not cause this tragedy. i am innocent. and i put my trust, reputation, and future in the hands of the judge and the jury. >> reporter: donald vidrine, another b.p. senior supervisor aboard the rig, also pleaded not guilty. they were in charge of a test that indicated a combustible gas had seeped into well. the indictment allege

just saw the suspects so whether it's b.p. . oil. the tar sands i think of the size of florida the split in alberta i was really interested in the tar sands protests this summer because to see thousand plus people getting arrested like that willfully is pretty amazing from. i messaged all of you to tell you is tar sands oil is not have to go in order to get tarzan go out you ask to destroy the art and so i think that you know finds out the pipeline but what happens after that you know i know there's a standoff with big oil i think so i think so i don't think it's the environment's going to magically go itself because we stop the pipeline and then the thing about the pipeline again and one reason that makes it so urgent is that that nasa scientist james hansen the brokaw boring are actually a few decades past it ever says the piper i mean it will be. game over again so i didn't cry you know how to bowl. well with. science technology innovation all the least developed minsk from around russia we've got the future covered. to please spe

if you look at stuff like chesapeake with aubrey mcclendon, if you look at stuff like the b.p. oil spill, nothing really changing in the story on apple, right? they're still having increased competition, they're still cannibalizing their own products. i still think the stock is headed lower. on a day- to-day basis, making lower lows, lower highs. yes, it had a nice, huge rally - in two days it was up $40. that is great. i still think it heads down to the south of $500 before it gets to $650. > > thank you. have a good thanksgiving. > > you too. that's it for today. coming up on thanksgiving, our film critic will be here with a preview of films playing on the silver screen this holiday season. from all of us at first business, we wish you a safe and happy thanksgiving. >>> man falls into a water filled rock quarry in oakland and drowns. what he was doing just before the accident. >>> we'll tell you how the rainy, wet weather could effect your holiday travel plans. >>> out of here in time if you are traveling or heading off to grand mall's house today. it's time now for the ktvu morn

. >> andrea: he learned a very important lesson, the president did after the b.p. oil spill. was almost 50 days that the president didn't respond. handoff approach and was criticized james carville being lack daze gal and chris matthew said he looked like vatican observer. he took heat from that. i think six days out from an election what do you expect the president to do? of course he looks presidential. do i think it will ultimately have an impact on the race? probably not. he was going to win new jersey anyway. it worked on a campaign. big natural disaster came in. the candidate was able to look in charge of the situation. >> dana: we'll come back to politics in a second and your point is about early voting which we'll get to. governor christie said halloween is canceled. >> greg: yet they are keeping the new york marathon. blows my mind. >> dana: you think they will? >> greg: yes, they will. a new phrase after hearing this stuff, i call it political looting. use a catastrophe for political aim you were unable to push before. a couple of examples, maureen dowd talking abou

climate disasters on thursday the environmental protection agency announced that it is barring oil giant b.p. from receiving any new federal government contracts due to that foreign oil corporations quote lack of business integrity and quote following the two thousand and ten gulf oil spill b.p. recently agreed to pay four and a half billion dollars in fines for the environmental catastrophe which will only put a slight dent in their corporate money chest but this latest move by the e.p.a. could be far more harmful to the company b.p. can still benefit from existing federal contracts but the department of interior has also banned b.p. from receiving any new leases to drill on federal lands according to the e.p.a. the ban on b.p. will last until the company can prove it's capable of meeting federal business standards but can any oil company prove that it's operating in the best interest of the community now the planet is getting hotter and hotter faster and faster or republicans or will republicans continue just play politics and give big oil cover says my pop cap and tonio attorney and host

b.p. was grossly neglect in causing the oil spill. we are seeking civil penalties and a judgment that b.p. is liable for cost and natural resource damages that could amount to billions of dollars. but we have been unable to resolve the civil case. we remain as determined as ever to hold those responsibility accountable. in addition to my colleagues we are firmly committed to combating fraud by investigating and prosecuting those who attempt to gain profits at a terrible tragedy. i want to thank the leaders local officials and agency partners and gulf coast residents who have contributed to this work and have made this announcement possible. i'd like to turn this over to the assistant attorney general of the criminal division who will provide additional details about today's action. >> thank you mr. attorney general. in april of 2010 the nation witnessed an unimaginable tragedy when the deep water horizon oil rig exploded in the gulf of mexico. eleven people aboard the rig died which and there began and oil began at that point pouring o

b.p. like other companies oil companies our own international our multinational companies so if it is b.p. and these other companies that are drilling what it really make us energy and independent. even if it's foreign owned oil companies the doing the drilling yes exactly. i mean i think that. potentially if you say that energy independence means you're extracting the fuel from your own country or from your own nation somewhere owned it offshore then if you define energy independence that way then yes but if it's a foreign company that's doing it then you could question whether that really is independence. but b.p. is as multinational as exxon as conoco phillips you as you pointed out two of the major oil companies have the same actually a major sponsors in terms of the shareholders so it's true that the u.s. is on course for massive expansion of its ability to drill for oil and its own domestic production whether that will lead to less international strife and war over natural resources such as oil i think is highly disputable and open to a lot of debate. really interesting i guess the d

billions to even get cheap gasoline out all of us now no matter how you slice it these oil companies especially b.p. are not operating in the public interest they need to be put down they've broken their contract with we the people and unless we want to continue to see smoldering oil rigs just off our coast and massive oil slicks in our waters and we must bring back the corporate death. and that's the way it is tonight friday nov sixteenth two thousand and twelve. for more information on any of the stories we covered visit our website to. free speech dot org dot com and you missed any of that i'd show you can now watch it in h.d. on a blue at hulu dot com slash and. also check out our two you tube channels there are links. you also find there all the different ways you can send us your food and don't forget begins with you get out there get active today your it with. more news today violence is once again flared up. and these are the images the world has been seeing from the streets of canada. the day. download the official. language stream quality and enjoy your favorites. to watch all it's who yo

b.p. was grossly negligent in causing the oil spill. t we are seeking civil penalties and a judgment that b.p. and others are liable for renewable costs and natural resource damages, exposetures that could although -- amount to billions of dollars. we remain as determined as every to hold those responsible accountable. in addition to my colleagues, we are firmly committed to combating oil spill fraud by investigating and prosecuting those to pay the consequences of a terrible agencies. i want to thank the justice department and partners and gulf coast residents who have contributed to this work and what made today's historic announcement possible. i'd like to turn things over to the assistant attorney general to the criminal division. laney will provide additional details about today's action. laney? >> thank you, mr. attorney general. in april of 2010, the nation witnessed an unimaginable tragedy when the deep water horizon oil rig exploded in the gulf of mexico. 11 people onboard the rig died and there began and oil began at that point

oil rig. it happened the day after b.p. reed to pay record criminal penalties for the deep water horizon oil spill. >>trace: a developing story from the gulf of mexico and a search after an oil rig exploded this morning. it happened off the coast of louisiana 25 miles south of grand isle. houston-based black elk energy confirmed the blast occurred on their platform. the fire is now contained. they say they are using helicopters and boats to search for two people who are now missing. this blast comes a day after oil giant b.p. agreed to felony charges and record $4.5 billion settlement for the 2010 deep water horizon disaster. phil is live in south florida with more. what is the latest? phil: the search officially is continuing for those two workers. 11 of the workers that were taken by helicopter are being treated. several of them for very serious burns. the location of this oil-producing platform is 25 miles east, southeast, of grand isle, louisiana. according to investigators, the cause of the fire appeared to be workers d

b.p. was grossly neglect in causing the oil spill. we are seeking civil penalties and a judgment that b.p. is liable for cost and natural resource damages that could amount to billions of dollars. but we have been unable to resolve the civil case. we remain as determined as ever to hold those responsibility accountable. in addition to my colleagues we are firmly committed to combating fraud by investigating and prosecuting those who attempt to gain profits at a terrible tragedy. i want to thank the leaders local officials and agency partners and gulf coast residents who have contributed to this work and have made this announcement possible. i'd like to turn this over to the assistant attorney general of the criminal division who will provide additional details about today's action. >> thank you mr. attorney general. in april of 2010 the nation witnessed an unimaginable tragedy when the deep water horizon oil rig exploded in the gulf of mexico. eleven people aboard the rig died which and there began and oil began at that point pouring o

b.p. over the gulf oil spill. >>> plus, 15 days after the storm, president obama returns to survey the damage and to lend some much needed emotional support. you're watching "early today." >>> well, here are some. stories making news this morning. b.p. has agreed to pay a record criminal penalty of $4.5 billion. attorney general eric holder says much of the money will be used to help restore the gulf. >>> president obama got a firsthand look at hurricane sandy's disaster zones on new york's staten island on thursday. the president consoled grieving victims and vowed to stick with them. >>> prosecutors in new york state are dropping drug possession charges against john bon jovi's 19-year-old daughter after her apparent state law. >>> and some former first children gave a texas audience an inside look at life in the white house. jenna bush haying ger reveals about having her first kiss on the executive mansion's first rooftop. steve ford talks about his mother complaining about having to cook dinner on the night gerald was sworn in. >>> let's take a check at wall street. the dow lost 28 points

b.p. has agreed to pay a penalty due to the 2010 oil spill. they stated that b.p. employees may face manslaughter charges over the people that died. the person stated that b.p. will plead guilty to obstruction of line to congress and about how much oil the was actually coming out of the whale. >> it is 6:27 a.m. and we are just three minutes away from opening bell. the nasdaq is getting ready to start trading. this fall and obviously in big trouble this morning. a lot of people asking how often she possibly be on the road with three prior do you i convictions. >> protesters under upset and over tuition costs having a meeting in san francisco. the finance committee meeting recently okayed the budget framework for the school year. the framework does the fan on the state giving the university fan additional $276 million. governor brown told the bridge as they should not count on it. this means the university will have to change course by cutting programs and finding ways to addition raise additional revenue. states have until tomorrow to decide whether not they will s

b.p. two and a half years after the "deepwater horizon" disaster in the gulf of mexico. that disaster killed 11 people and led to the worst oil spill in u.s. history. inits guilty ple b.p. saidt deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that resulted from b.p.'s culture of privileging profit over prudence. >> reporter: b.p. has agreed to plead guilty to 11 counts of felony manslaughter and one felony count of lying to congress. in addition, two b.p. supervisors on the deepwater rig have been charged with 23 counts of manslaughter. another b.p. executive was charged with lying to congress. b.p. will also pay a record- setting $4 billion in criminal fines and penalties. thrown in with the criminal charges is a civil settle

administration lack of leadership that has brought us into all these gigantic problems like the b.p. oil spill, due to lack of oversight. so thank you so much, we can solve our problems, there is such a thing as a possiblist, possibility, it's possible to solve this problem, we can do anything. host: all right, we leave it there -- caller: wait, wait, wait -- host: we move onto howard. caller: well, good morning. i wish you had let that lady from montana continue, but yes she did ramble on a bit. to get to the budget, i think first of all have to understand that -- and i'll speak slowly so all the lib cals out there understand. when the next congress is gaveled in, two-thirds of our income is fixed and stunted. republicans are asking for a reduction in government spending. there has never been a liberal progressive a democrat that can find any issue, especially social issues that need to be cut back. it's just not in their genes. that's how we established $16 trillion in debt. of course you can include george bush and his compassion nate conservativism which gave us a true trillion dolla