about a bet that went bad.like all stories about wall street, it starts with the pursuit of profits and the risks of getting it wrong. >> pay for at least 50, 12.68 for at least 50. >> narrator: it's one of the latest in a stream of missteps, meltdowns and scandals that blow up, it seems, every few months. >> two mortgage companies under government control... >> the federal reserve is bailing out bear stearns... >> narrator: it's a familiar cycle. customers are outraged. lawmakers promise change. then it happens again. >> mf global, down almost 39%. >> an increasing number of investors are betting the stock has farther to fall. >> of all of the collapses that occurred during this financial crisis, the collapse of mf global, in my mind, is the most egregious. this did not have to happen. >> it is a wall street morality tale in some ways. how can something like this be allowed to happen? how can one individual completely shape the destiny of this firm and ultimately its demise? >> narrator: this is the story of j

>> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right now that if i had any idea this-- i wouldn't, if i had a choice, but this project was started four years ago. these things have a huge lead time. >> the gambling industry has been battered by the recession and taken the city of las vegas down with it. some casinos stand half built. unemployment is over 10%. and while steve wynn has had to slash employees' pay and lower room prices, he plows ahead, doing whatever it takes to get customers to his new hotel. >> this is encore. [dramatic orchestral music] ♪ >> and, yes, he really was sitting on top of the building. >> next time, we do this in the lobby. >> the encore is connected to his other las vegas hotel, the wynn, and he has a third in macau, china. inside, his hotels are fantasy lands for well-heeled adults. he brought gourmet restaurants and high-end shopping to the strip. his hotels may be extravagant, but his business strategy is conservative.

they have been through betting scandals in the past.gue baball had them a couple times. >> but ty're just, you know, if you watch the nfl pregame shows and all of the shows they all talk about the line. they have injury reports that are only mainly of interest to someone who is a gambler. they do everything they can basically to make it clear that they anticipate that people are betting illegally and then they throw up their hand and say, well, if they're betting illegally, that is, we didn't tell them to do that. what, the country's in trouble. why wouldn't we want to get this $15 billion. adam: tax it. >> tax it. adam: sound like t scene in casablanca where the inspector says, i'm shock, shocked, to find out about gambling in this establishment. and ear here is your winning. >> it is hypocritical. adam: what do you think happens. >> at the end of the day supreme court will decide this. if the federal government wants to intervene my guess it goes to the supreme court and they have to decide under the constitutionan you allow something

mike and carter made a bullish bet on ebay. with the stock up 9% they have nearly doubled their cash. how did they do it? find out when "options action" returns. >>> the names that were heating up. need a neighborhood pharmacy this drug store chain is at the corner of happy and healthy. options traders rushed to stock up on calls. who is it? the answer when "options action" returns. and you don't want to miss it with thinkorswim by td ameritrade. you get knock-your-socks-off tools, simple one-click orders, real-time paper trading to hone your skills, plus anytime you need it support. ♪ stocks, options, futures, and forex. get your trading on track. thinkorswim by td ameritrade. trade commission free for 60 days, plus get up to $600 when you open an account. >>> where were options traders pumping up this week? walgreens. >>> you heard how walgreen calls were active. do you think this has to do with the special dividend buzz? >> that is certainly what is going on here. call buyers looking for likely candidates to issue special di

can i bet this?ed like two chunks or three chunks of bud of marijuana and puts it on the table. he said, can i bet this? he was thinking i said that's too much marijuana, he couldn't beat that much, like that was a table max or something. >> the dealer tries again to alert the gambler of his illegal actions to put an end to the situation before it gets out of hand. >> he was so wasted that he didn't know what was right from wrong. i was trying to be real calm about it, quietly tell him to put it away, not to make a scene. and maybe he could just leave without getting in trouble, you know. >> but when none of his efforts to get through to the player seemed to be working, the dealer calls for backup. >> that gentleman in the black suit is the pit boss. when he shows up to a table, that usually means there's a problem. >> the pit boss quickly realizes that security needs to be called. >> when i arrived at the table, i was kind of shocked like everybody else. so i asked him what was he doing. and once he

we'll play for a nickel if you want to bet. >> a bet? bet? bet, bet, bet, bet. >> oh, yeah. is it moving to gambling? just what this beaten-down stock needs. >>> after weeks on the run if authorities in belize, anti-virus software pioneer john mcafee has finally been caught, but you will not believe where he was found and how he was actually located. we have details on this bizarre story that gets more bizarre all the time. coming up. [ male announcer ] when a major hospital wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] >>> welcome back. check out zynga. the shareholders getting good news today after a tough year. the stock rallying after the company filed for gaming license in nevada. julia boorstin with the story on this big bet. over to you. >> investors are clearly relieved to see zynga is trying to make money from online gambling. g

betting shops. there's a range of possible wagers like will, kate have twins. triplets.ore, quadruplets. that pays out 500:1. >> might want to put a buck on that. >> how big, the name. >> left-handed, right-handed. >> i got $100 on that. >> i like the strange ones though. >> have a good day. captions by: caption colorado comments@captioncolorado.com ,,,, ♪ [ male announcer ] introducing a brand new medicare prescription drug plan. it's called the aarp medicarerx saver plus plan from unitedhealthcare. and it's for people who want the lowest part d premium in the united states... only $15 a month. and copays could be as low as a dollar. so call unitedhealthcare now to enroll or learn more. with this plan, you can save 40% or more on your copays by using a preferred network pharmacy, like walgreens. for example, a network copay of $4 becomes a preferred network copay of $1 when you fill your prescription at any of the 8,000 convenient walgreens locations. so call and enroll today. remember, the premium is just $15 a month. don't wait. open enrollment ends december 7th. aarp

i bet you dn'

amazon makes a huge bet. and faking ammish.s all the best, all the worst, and it's coming up. ♪ ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. tyeah, its the galaxy note ii.re great. you can do two things at the same time. you can watch videos and text. or you could watch the earnings report and take notes, like we're supposed to. so... can i get it? yeah. okay either of you put together the earnings report yet? yes, me totally. what? why don't you tackle the next quarter. you eat yet? polynesian? pu pu platter? yup! keep up the good work. i will keep up the good work. do more with the new samsung galaxy note ii. [ male announcer ] when diarrhea hits, kaopectate stops it fast. powerful liquid relief speeds to the source. fast. [ male announcer ] stop the uh-oh fast with kaopectate. >> another world of pop culture came up aces as plmplers around the plan ket tried to stave off the economic blues, in movie

betting on a better economy. coming up snake eyes in some places and dpeel dealing wild cards in other. now we've got the oddsmakers to break it all down. from cbs' "the talk, ayesha tyler, ben stein, julie mason, and stand-up guy, pete dominick. cnn's own isha sesay, "the cake boss's buddy valastro. on "a.c. 360's" all the best, all the worst, 2012. welcome. i'm tom foreman and this was a year for living dangerously. whether flirting with the fiscal cliff or skydiving from the edge of space or just buying a powerball ticket, risk-taking was back in vogue. and as we head into the new year, we're going to look back at all the risky business that brought us here, in the economy, in entertainment, in sports, in pop culture, in technology, and in the biggest, baddest game of all. give it to the twin pillars of politics, the relentless candidates barack obama and mitt romney, for waging the best and worst presidential campaign of the year. >> thank you, thank you, thank you! >> thank you so much! >> best, because it w

amazon makes a huge bet. and faking amish.e best, all the worst and it's coming up. ♪ ooh baby, looks like you need a little help there ♪ ♪ ooh baby, can i do for you today? ♪ [ female announcer ] need help keeping your digestive balance? align can help. only align has bifantis, a patented probiotic that naturally helps maintain your digestive balance. try align to help retain a balanced digestive system. try the #1 gastroenterologist recommended probiotic. align. and this is the nokia lumia 920 from at&t. it's got live tiles so all my stuff's always right there in real-time. it's like the ultimate personal assistant. but i'm me, and me needs handlers. so i hired todd to handle it for me. todd, gimme that hollywood news! what's happening on twitter? you're trending! yes! you can't have a todd, but you can have your own personal assistant. i guess you could call it todd. [ male announcer ] the new nokia lumia 920 with live tiles that deliver what you want in real time. only from at&t. rethink possible. >>> the world of pop cult

hello is right. >>> next, going gangnam, amazon makes a huge bet, and faking amish."all the best, all the worst," and it's coming up. >>> the world of pop culture came up aces this year as performers around the planet tried to stave off the economic blues. in movies, television, music, and especially in one international set. ♪ >> love it or hate it, the best song of the year, gangnam style from psy was viewed close to a billion times on youtube, and parodies over and over again. >> i'm a huge fan, and i think that gangnam style is a song we have all been introduced to because of the ridiculous sports dance. that adorable slightly rotund psy who is the cutest thing ever. you want to pinch his cheeks. he's like a pokemon character. >> another great was call of the wild from carly jepsen. >> does anybody really like "call me maybe"? >> i'm a fan of that song and i have watched the video more times than a grown woman should, so yes. >> there were plenty of other strong contenders for musical honors, the black keys, kelly clarkson, taylor swift. fun had a blast, springst

that's what dan tried to do with his bearish bet on nike.an thought shares were setting up for a miss. >> i think it sets up for a near term bearish play. >> shorting the stock -- >> what are you guys doing? >> you said it lil penny. dan instead bought the december '95 put for $1.90. now dan needs nike to fall below that put strike price by more than the stock of the trade, below 93.10 by december expiration. paying almost two bucks just to get bearish on nike? we ain't got money to spend like these guys. show us how to do it. >> the december 7 weekly '95 strike put and put his put calendar. but he did something even better. he made making money easier and here is ouchlt between the $1.90 he spent buying the longer dated put and the 50 cents he collected by selling the shorter put, he put his cost at just $1.40. instead of needing nike to fall below 93.10 to make profit, below 93.60 by december expiration. but it gets even better. that's because a value of the put that dan sold will decrease faster than the value of the longer dated put he b

beforee bets started pouring in. bos are taking wagers on the ger >>> not even a day after the announcements of the royal pregnancy went by before the bets started pouring in. bookies taking bets on the gender, color of the hair and names. francis and phillip on the boys and diana and elizabeth great odds. you better take that bet. >>> there's a medical breakthrough that could boost a couple's chance of conceiving. researchers at stanford have discovered a way to boost the success rates of in vitro fertilization. dr. kim mulvihill has the story. >> reporter: it's been 34 years since the birth of louise joy brown, the world's first test tube baby. today, more than 60,000 american babies are born each year thanks to in vitro fertilization. now stanford researchers have found a way to help even more infertile couples. >> 48 hours of culture, we can predict the viability of a human embryo. >> reporter: researchers thawed 75 donated single cell embryos and used time lapse photography to track their development. the 75 emb

he told me i made a bet, i lost the bet. this is the honorable thing to do. he says he has been looking forward to talking with the kids. >> i love to talk to young people and let them know value of getting along with each other. the inner play i think you gain from sports is real good. because you know, it teaches you how to win and how to be noble in defeat. that is what i'm here doing, today. >> this is about exchanging ideas and experiences. fortunate and glad to have them here in san francisco. >> the mayors had note knot met before but seemed to find respect today. tonight tonight at 6:00 what else was on the agenda for both of the mayors and what mayor ed lee would have been doing today had giants not bnt winning team. live in san francisco, abc 7 news. >> thank you very much. >> a proposal to ban foam containers is a step closer to reality. today the city council transportation and environmental committee approved a me hur to phase out the containers made have expanded polly yurj yain. -- urethane. 58 california cities and counties have banned these c

it's like betting on, some people would say, not me, betting on a coin toss. but given they just won a case against apple based on these same patents i think it's more likely they will once again prevail. and winning could mean virnetx gets not just a lump sum but a royalty in these super apple products and that would be a potential windfall. that's not the only thing virnetx has going for it either. in march it's scheduled to go to try against cisco, avaya, and siemens. ordinarily, i wouldn't bet on this thing but it's racked up an impressive track record in litigation against big players. so i think the smart money is on them winning. however, this is obviously a very risky play. if virnetx loses it could be crushed. this is reasoned gambling. there's nothing wrong with a little reasoned gambling in portfolios. it's not a curse word. remember, one out of every ten. i need you to stay involved. but you need to do everything you can to cut down your down side. if you want to play it i don't know if common stock's the right thing to do. what i prefer you to do

this is a bet. i said we're gonna bet on your hair. he had this big hair like elvis, and i said, i'm gonna give you a modern hair cut. tb the raiders win. you bet against them. and he still has the same hairstyle that i cut. i started cutting it, and he was looking in the mirror. he couldn't see me. and i'm like, oh, my gosh, what am i going to do? i just kept cutting and cutting and cutting. woo! >> we have to cut away for a break but we'll be back to talk more about this. i said this to you before. your going gray has convinced me someday to go gray as well. >> you caused me to go gray! that's the truth. shin,,,,,,,,,,,,,, ,,,,,,,, >>> well, i have the honor to toss it to paul deanno for the last time. >> oh, for the 15 weeks we've worked together. >> you know what, i adore you, and i wish you the best of luck. >> thank you. and you've always made the new guy feel welcome, which is big. very appreciated. let's talk about some weather now. get you outside. it's friday night. chilly. check out santa rosa. 39 degrees. san francisco, 53.

i bet he knows everything. anybody in the army's gotta know. you bet.en't told anybody about this have ya? you don't think i'd tell. won't be long now and we'll be famous. pictures in the paper and everything. steven talbot inventor, edward little builder and timothy martin test pilot. boy, what a team! let's lift it and see how it fits. balance is perfect. boy you're lucky, to get a chance like this. i sure am! when am i gonna take off? this afternoon. this afternoon? well we gotta eat don't we? when we get back we'll take it up to where we're gonna test it. where's that? we'll show you when we get there. we found it this morning, it's just right. see ya back here. okay, come on, girl. ♪ ú úúilg with us. i promised steve and eddy i'd meet them again, right after i finished eating. thank you, lassie. here dear, i taped the wing for you. i think she'll fly again now. i'll be the best pilot on a big plane. classified information? well, that means a secret. well suppose you give this enemy all the details? but i can't mom. steve and eddy and i, we made a p

some people bet on zeroes because they think they can go to zero.t is why it is very high short interest. this is closing in on 60% short interest and the valuation pretty. and members of led zeppelin which i know you watch. >> anything zep i watch. >> i think this stock could go to like a buck. >> when a stock has a move from 720 up to 950 right before this happened in three weeks. >> let's see how many times we can use that word. >> two is a enough. >>> let's talk china. the face of chinese manufacturing picking up for the first time in 13 months. is it a sign the bottom is in? is china your best bet in 2013? joining us is chief china equity strategist at goldman sachs. always great to speak with you. >> those pmi numbers seven-month high. fourth month gain. it is the longest streak in more than a year for the chinese currency and the stock market lowest level since 2009. what is telling the true story? >> well, i think obviously we are seeing pretty reasewassurin cyclical signs and the market is reacting more. there has been a big divergence in t

kai, i'm going to bet that the lights are going to be white this year. that is my bet. we will see at 7:45 this evening. that is when they actually will light the monument up. but as i mentioned, the festivities started right at the top of the hour at 5:00. but i'm going with white. we'll check back. >> i'll see your bet and raise you one. i think they'll be mixed. white and a combination of something else. >> reporter: okay. i'll bet you a nice, warm hot chocolate. >> fair enough. that sounds good. all right, jess. >> reporter: okay. it's on. >> all right. it's on. jessica, thank you. >> you're going to need that hot chocolate out there tonight. >> she'll probably win. i need to get my money together. >>> a grisly discovery. the bodies of two missing iowa cousins are found. coming up, how a community is honoring their memories. >>> a local community project gets big bucks from johns hopkins. i'm christie ileto. and straight ahead, i'll explain my residents, living around the homewood campus, aren't the only ones who will benefit. >>> beltway battle. a wager. from one c

hello is right. >>> next, going gangnam, amazon makes a huge bet, and faking amish.est, all the worst," and it's coming up. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. ...but he'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. [ male announcer ] when diarrhea hits, kaopectate stops it fast. powerful liquid relief speeds to the source. fast. [ male announcer ] stop the uh-oh fast with kaopectate. >>> the world of pop culture came up aces this year as pe

ty likes to do one-sided bets where he'll bet if he makes something and if he misses it's nothing.t that if i made a shot from across the backyard he had to pay for my sandwich. >> of course, college guys. got to make a free lunch any way we can. >> i took the bet for some reason. i threw up a shot from behind the back and drained it. >> he made it. swished the shot his very first try. >> they can't believe their eyes. >> so we go grab the little picture camera. >> we'll see if we can get it on film. as soon as we saw it on the camera, that was the game changer. >> we all wanted to top each other. >> crazy shots behind the tree. >> standing up on the roof. over a fence. it's in the hole! >> we started filming everything. bigger and bigger and bigger. >> this is the laser shot. >> the guys edit the footage together. but before they upload it, they decide the posse needs a name. is >> the name came about on accident. we were sitting in the backyard and we decided to put the camera up on the rail. he looked through the camera and saw it was perfectly in frame. and said -- >> dude, per

i wouldn't bet on it. a lot of people saw the announcement, they are doing other things around the edges. at this point, i wouldn't bet on it. >> 10 bucks for a sandwich. >> thank you. >> good to be here. >> the job creator in this country anxiously await a fiscal cliff deal out of washington. how is the stalemate affecting business that level? let's ask joe dutra. great to have you on our show once again. are people buying less candy as a result of the uncertainty? >> mandy, merry christmas from reno, nevada. you know, you guys have been great for our business. there's a lot of uncertainty and stress and depression in the market. and that is just great for the chocolate business. >> is this like the lipstick indicator? like you might cut back on big things like a new frige or new home but make yourself feel better with a little lipstick or bag of candy? >> that's right. we are kind of a cheap or inexpensive treat for most children and adult in the united states. and we've seen our business this year and o

no, this is the right bet. they want to make sure it's the right bet.he fiscal cliff, did it play into why solar city cut its price? >> i think it was a minor factor. i think the larger factor is that -- is that investors looking at the ipo, the last ipos invested in, are all underwater. the bankers said the only company that's trading above the ipo price is tesla so it's tough when somebody has heard a story where that's perhaps now compelling the first ten times, and now that the 11 company says this time, for sure, it's going to work, and, like, even though the fundmentals are really strong -- i mean, nobody could refute the business fundamentals. they really -- the people -- the push back we got was irrational like, oh, it's solar. solar's bad. the fundamentals are strong. solar's bad. i'm like, uh, that doesn't make sense. >> 300% customer growth rate. >> yeah. we could have a mint and say we mint money. [laughter] solar's back. wait a second. liz: 47% jump in the stock today. looks like they priced it well enough that it did get the big pop. david

be taking bets, no.michigan, jamie fox is not of the right to say hateful things, even if it was in your opinion, satirical. first of all, does he have the right to say what he wants. this is america. secretarily, "saturday night live" is a sat dirical forum. if fox said that stuff on the factor, be totally different. jesse, in new york, hey, i want to see all the germans die. how jewish is that? why don't you start making excuses, you are establishing benchmarks. those excuses were made by me. i refer you to the producers by mel brooks where he mocks gays and nazis. context in these issues is everything. context. in california, since the birth of christ, there has been a war on christians. the pastors i know are not afraid or weak. they lead by example. pete bruno, colorado. many pastors are wimps. i changed my parish when my priest did not speak out against the obama mandate. even in australia, see. my kid in canada. you give stossel a pass for not believing in god burks beat up the atheist david silve

i will take that bet. i will both take that bet. >> another bet out there, your prediction -- >> tomorrow, i've done a series of predictions here. i think maybe tomorrow we could do the microsoft prediction. brian taught me about teases. tomorrow we'll do the big microsoft prediction i have, i think is a pretty interesting one. >> training session on intros as well, fascinating. >> training on my flogging session as well. floggings will continue until moral improved. >> let the floggings commence. a really big headline today. that is the airline index is trading at its highest level since july of last year. why? on the news delta will buy a 49% stake in virgin atlantic. let's bring in our phil lebeau. we'll be talking about this. there is speculation and where there is smoke, there is fire. >> a lot of people are sitting here saying, what's in this for delta. is this a smart move? almost everybody when you look at what delta is getting here, for $363 million it is a smart move, 49% stake in virgin atlantic

i would bet my life on it.e would have done it again. >> she saw at his picture in a newspaper wrote offering $5,000. she called d.c. investigators with his name. she gave them step-by-step to find all on how evidence they would need to lock him up. convicted he was s later,four month deliverede not jennifer's reward. >> i am frustrated. i feel like if something else happen, i would not come forward again. receive areips we critical to us doing our job. we went to the assistant chief for answers. says the process takes time, but not this much time. not say what was the delay. should not take this long. glad we are able to resolve case. promised jennifer will her $5,000 reward by the weekend. will keep watching to make sure it happens. since he took over in 2007, the of money they have given rewards have doubled. this year they expect to give out half a million dollars. >> we will keep an eye on the story. to report forent that was one of our heroes. design academyhe on a house that built in northwest washington

so many bearish bets are out there. if you follow the news, you would never know the market is as strong as it is. following prices has been more advantageous. we look at various put to call ratios, our work says hedge fund institutions have drastically missed this rally. we think they are extremely underexposed. that's another reason they can play catch up. they can keep going in the near trend. liz: joe, as cautious you might be about actual growth, you're still investing. show us the money. tell us where you like to invest and how right now. >> sure. well, liz, we think the market -- we think maybe high single digit gain for the year. the primary reason being than thanom -- that nominal gdp growth will be --. we would say go with companies that are doing a great job turning out investment income. let's go with a company like pepsico that has a3.1% dividend yield. they have grown their dividend 27% over the past four years. they are expected to grow at about 15% the next four years. a great place to be. totally differ

i bet you will grow up to be a mathematician. i will give you my address you will have to send me your first paycheck because i taught you this. at this point we would like to thank you very much for coming. if you have any questions. i don't know if we want to open it you will for questions. may be just a few? okay. yes. what's your question? >> how do we get in this program? that is a good question. >> it's an interesting question because the answer with the 3 of us is the same. what i want to point out i look like i might be from india when i talk i sound like i'm from america. my parents are from india but i was born in america and i started this dance when i was 18. i was not a baby e. both charlotte and an drea did as well. charlotte at 15 years and joe airna and i 15 years. that's how we got in this program. we practiced very hard. very, very hard we practiced everyday and we have been been in india practicing 8 times where our teacher is from. yes. >> yes. >> well there are similarities all of southeast asia. we performed

i will bet you a gentleman's bet that the president wants the fiscal cliff and he will come back and give back the new tax increases and then there will be a huge fight over the debt ceiling and i don't see a path to any real compromise in the end. i think we are at a pretty large standstill in the country, governor. >> well, let's say we'll have a friendly bet, sean and as good friends let's keep it that way. i'm not going propose 10,000 bucks like mitt romney did. just a friendly bet. >> sean: you got to let it go. at some point. he lost the election. good to see you. thank you for being with us and happy new year to you. >> same to you, sean. >> sean: we break down senator dianne feinstein her proposed new weapons ban and some have to register their firearms and get fingerprinted with the federal government. >>> and why an arts and crafts company could be forced to pay over a million dollars a day because it refuses to comply with the obama law because they say it violates the religion belief hs of the owners. more as this [ male announcer ] we all make bad decisions. like say, ga

and they bet it when they didn't know they would have money later. chris: to bring down romney. >> as a rich plutocrat. they knew that would help them later if it got tight and it did get tight. obama told people in the summer what are you doing? what are you thinking? i want to keep it close now and win it in the debates. that's pretty much more or less how it turned out. >> except that first debate. chris: katty. >> the fact they managed to find voters where the romney campaign didn't even know voters were. this was an election republicans could have won. but they did an incredible job. hiring david plouffe was probably a smart move. chris: they ambushed him at the end because they didn't know what was coming. helene. you covered this. >> i'm with katty. they're all such good choices. but i think the scrounging up the votes -- i remember it going to richmond, virginia, like may or something. early -- fairly early on. and they had such -- siterring at the obama campaign headquarters office and i remember one of the aides there saying do you know the

if i were a betting man which i am not, i don't like to take risks but if i were a betting man i would bet the market is trending lower and under a lot of pressure because of the uncertainty generated around the fiscal cliff and the other side of that equation is folks will tell you and i have set a hundred times the markets don't lie and markets see something the financial press and the rest of us don't see because they hang in here. i don't understand it. we should be trading below, just like gold is puzzling. liz: interesting point. is puzzling, when you look at the intraday chart whether it is the dow or the and the crossing the flat line over and over why are the moves so shallow to the upside or downside. a couple points up and down and no real conviction on either side. does that happen next week? >> we are solidly in consolidation. markets and trying to make a decision but we have 4% rally from recent low so as far as the cliff is concerned i believe the market expects that it will be solved and there is not going to be an issue going forward and all we have now is a bunch of p

be taking bets, no. in michigan, jamie fox is not of the right to say hateful things, even if it was in your opinion, satirical. first of all, does he have the right to say what he wants. this is america. secretarily, "saturday night live" is a sat dirical forum. if fox said that stuff on the factor, be totally different.

i bet you tell stories. did you tell a story today? >> yeah, i bet you did you went up to our friend and said, did you see that? your friend said, no, no he didn't. right? that's a story. so, i will tell you a story. in india, here we have super heroes like, tell me a hero. >> super man. we have super heroes in india. krishna. lifts mountains and throws them to the ocean to create bridges. i will tell you the story about a super hero. krishna as a little boy in the village where the trees blow and the water flows and the birds fly and the grass grows, in this village there are cows. and people and they go to the river and they go to get their water. and they go to the river and what do they see? an evil demon is polluting the river. callia. and they can't get water because it's killing the cows and the people. so, they go to krishna and say, please, do something about this this is not good. he says, he thinks about it and says, okay. he takes his friends to the river to play. they play ball. they play with the ball and then by accident

it is the biggest betting scandal in european soccer. a gang operating from berlin paid bribes to influence and dozens of matches. that thought to have netted over 2 million euros in the course of their crime. >> the case is headed back to trial. germany's highest court has overturned parts of the verdict against the ringleader of the group, ruling that some of the charges had not been fully addressed by the lower court. >> he admitted to manipulating more than 20 games across europe. together with a group of accomplices, he plate -- paid cash to players and officials to influence the action on a field. he put big bets on those games by bookmakers in asia. the court today confirmed that it was a clear attempt to cheat them out of money. >> the court today made a clear ruling confirming that the manipulation of sporting betts announced -- amounts to fraud. the bookmakers were in effect deceived. >> but the judges also overturned parts of the original verdict. he had already served time in jail for a previous scandal involving a referee. i

anybody willing to take a bet? we had an analyst on "squawk on the street" on monday who visited stores over the weekend, said, you know what, the traffic was good. they went back to their promotion always and brought people back in. >> until there's an actual turn in the data, i don't care what a store looks like on a tuesday. i can't invest based on that. when we look at the data, technically, the stock's been acting a little better. there's a ton of shorts in this thing, though. that's hard to go by and there's just not turn yet. i'd rather buy the thing higher when there's some sense that the business has stabilized. i don't want to buy it here where we really have no idea when these metrics bottom. so, this is not something where i feel like i have any kind of edge over anyone else. i'm content to let it pass. >> i'll just offer the contrary view to what josh is saying. this is -- to his point, there's a ton of shorts in this name. they seem to have gotten the strategy figured out now. which is a hybrid strate

trillions of dollars being placed on bets which are already done this country a disaster and can lead us down the road in my view one of the wall street bailouts . bernie made off. of rodi people put a third of the national budget in his ponzi some made a packet before it went bust somebody told us his and made off pyramid. banks are huge difference there legalized but then bust as well mogens investor general does also says banks a poem's investor general just also says joins us now twelve years ago greenspan ignored you awarding he's fueling stock market really state consumed with the bubbles is the fed at least getting bits and now. that's what i think you're. going to see if everything was very soft and everything but ok why we think you i think it's really terrible now what last week it is now going to. over five hundred dollars you know a bit. about five trillion dollars of this stuff going oh that sounds like you saw you there were thought it would have been noted for. a better job of you by way back in two thousand and eight the chief economist put up there with their rope the