hong kong stock exchange for one billion dollars one of the biggest private equity investors was carlyle group you know the very connected private equity group with all the bush isn't the bakers of the world on the board of directors so china forestry had a business model which consisted of fast growth forestry to extract greenhouse gas credits a business model that barely made sense to some analyst guys that looked at it however it was a business model that made sense if the company had enough go on which is nepotism connections that the west refers to how china operates so enough connections to extract a really bad deal from the chinese government but it turns out that the shares have been suspended due to accounting irregularities and analysts gossip is that the bulk of the forest do not actually exist right so the crony capitalism. has value and then what gave it the money cash appeal but there are no forests there but if there were a forest there they were buying and selling them based on carbon credits which is a virtual currency that doesn't yet exist either so. you've got three layers

on between real and fake we can't tell the difference anymore between real value and fake value carlyle grouplost one hundred five million dollars on a fictional chinese for a street.

billionaire philanthropist david rubenstein, co-founder of equity the carlyle group purchased back from784 at christie's for almost $2 million. he is loaning it to the library of congress for public display. the map was the first one copyrighted in the united states after the revolution, and features the first appearance of the stars and stripes. at 43 by 48 inches, all 13 original states are well represented. virginia extends almost to the mississippi river. that will do it for us today. thank you so much for joining us. next week just in time for valentine's day. my guest chef jacques torres, the man known as mr. chocolate. each week keep it right here, where wall street meets main street. have a great week, everybody. i'll see you again next weekend. california should be proud. we were the first to ban smoking on airplanes. the first to have smoke-free bars and restaurants. all while saving over $86 billion in health care costs... and over a million lives. we've done a good job. but even if you were born today, you'd still grow up in a world where tobacco kills more people... than ai