bankruptcy on october thirty first appears to result from a massive hide and seek ploy says bart chilton a commissioner of the u.s. commodity futures trading commission well covered us on this show before i called peek a boo accounting this was the same thing a lehmann brothers and it's used all over wall street all over the world when the regulators come in to record your end of the quarter live deliveries you simply move it off your balance sheet for a few days with the complicity of another corrupt hedge fund or broker or banker and then the regulators move on to the next company and move it back to your balance sheet as a reciprocal arrangement with the other corrupt bankrupt. broker a corporation all corporations do this general electric does as i.b.m. does as warren buffett does as all the firms on wall street do their own gauge and accounting fraud because the accounting and the m.f. global was caught right as they were in the process of committing accounting fraud and suddenly that all ravelled the little string was polled globally went bankrupt but you can do the exact same thin

the good faith in the world that the money will be found well let's turn to another clip or bart chilton one of the executives at the c f t c which is regulating this market well he's asked the same thing where is the money good question doing the jury require show us the money for a couple of weeks here we've had people there is and it's not where it should be but it looks suspicious as heck to me it's easier to farias or illegal in my personal opinion but that's why we have an investigation the money should be there in groups it's not that money should be sacrosanct it's really troubling oh no bart chilton keeps coming up reminder remember a few months back he was involved in a cancer exchange h s x box office features scandal we got inside information about how he was working with n.p.a. and all the skullduggery get done behind the scenes on that one now he's claiming anger and psycho we don't know where the money went of course they went into the account as so one day has eloquently they still look for a good movie there just steal money now and pretty soon they'll still money accomp

at tavoly and chilton. this is about a block south of 33rd street. upon our arrival, we found two vehicles involved in a heavy collision. one of them on fire. it appears the vehicle that was on fire is the vehicle that -- and the suspects inside police were seeking at the time. it appears that sometime during the course of the time the police were seeking those subjects, they collided with this other vehicle, causing all of this mayhem in the neighborhood. police do have two persons of interest in custody. it is not clear at this point what police will charge those people with. the occupant of the other vehicle, a woman, was taken down in front of a home on chilton street, which is just south of tavoli. where she is being assisted by baltimore city paramedics and other assistants. it was mayhem out here for a short period of time. at least 30 or 40 police cars. again, not clear what these suspects were wanted for. but two are in custody. and police have put on the the fire. it appears the injuries to the other person are nonlife- threatening. >> than

be there in groups it's not that money should be sacrosanct and it's really troubling oh no bart chilton is keeps coming up reminder remember a few months back he was involved in a cancer exchange h s x box office features scandal we got inside information about how he was working with n.p.a. and all the skullduggery get done behind the scenes on that one now he's claiming anger and psycho we don't know where the money went of course they went into the account as someone today has says it eloquently they still look for a good movie there just steal money now and pretty soon they'll steal money accompanied by a knock on the head and thrown into prison that's what happens when you look close the crabs are on the system whether it's in greece ireland america the u.k. . this is their methodology well he refers to rule one point two five and this is regulation right if. what a rule yeah there are a lot of rules that they have there to see if the state oh yeah so from two thousand and five bankers the brokers trading on this exchange share were able to use internal repos to basically buy any d

another tornado warning exists up the line there north of montgomery for chilton county for another tentornado watches in alabama and louisiana continue until at least noon today. they may likely be extended towards the atlanta area. look at the rain out here. rain and thunder heading towards the big cities. no delays right now, richard, from the faa. but no doubt, we'll have flight delays in atlanta and up around new york city throughout the afternoon and evening with the rain and the thunderstorms. >> just you wait. thanks, mike. >>> developing news, new developing news on the penn state scandal and former assistant coach jerry sandusky. nbc newsing confirming the sandusky family was a fresh air fund host family which assists disadvantaged family. one child stayed with them in the mid '90s. and it wasç believed that five children stayed with them in the home in the '70s. we'll have more throughout the day here on msnbc. >>> and here's a look at other stories people are talking about on this day. today, the house is expected to vote on and pass the first piece of president obama's job

central time and a tornado warning in effect for northwestern cusa and east central chilton countiesn alabama. a very serious storm, severe thunderstorm, capable of producing a tornado cited about -- sighted about 20 minutes ago near bald rock. it is moving to the northeast, 40 miles per hour. even if you're not right in the immediate vicinity this thing could be on you quickly. keep an eye on the sky and an ear on your weather radio. janice dean will join us in a few minutes with the latest. jenna: right now, concern that an entire chunk of road could just end up in the pacific ocean. hopefully while not while you're driving on it. this is san pedro, north of los angeles where chunks of coastal bluff are falling into the pacific. what started as a small crack in the road turned into a sinkhole that just keeps getting worse. there are fences up. they're trying to make sure people don't get too close and obviously no one gets on the road with a car. crews are rushing to move water and sewer lines along with storm drains before a smage i don't remember storm hits. no homes are in dange

commissioner bart chilton calls mf global a poster child for the need for tougher regulation. >> customers to be segregated and protected and they're not there. they need to do a tom cruise and show us the money. that's a big problem. >> mf global had invested $6 billion in risky european sovereign debt after its rapid collapse and news of the missing funds, mf goebbels customers found their accounts frozen. jim mindling is outraged. >> i think they should go to jail. this is the problem with wall street. they trade in derivatives, mf goebbels is leveraging the money 40-1 to buy sovereign daet. >> the agency tasked with helping investors at failed broker firms, it has been working to help transfer mf global accounts it other brokerage houses. now that they have subpoena power, it will help shed light on the money trail. >> they need to be able to take testimony to unravel why assets are missing and who is responsible for that if in fact it turns out that assets of missing. it's a powerful tool that helps him to find assets and find out why they are not where they're supposed to be and, in