>> you'd have to say enron.ing they desperately wanted and they got. >> michael greenberger, who wanted more regulation while he was at the commodity futures trading commission, not less, says it all happened when enron was the seventh largest corporation in the united states. >> this was when enron was riding high, and what enron wanted, enron got. >> why did they want a deregulated market in oil futures? >> because they wanted to establish their own little energy futures exchange through computerized trading. >> she's gonna pay me a penny and a half. >> they knew that if they could get this trading engine established without the controls that had been placed on speculators, they would have the ability to drive the price of energy products in any way they wanted to take it. when enron failed, we learned that enron and its conspirators who used their trading engine were able to drive the price of electricity up, some say, by as much as 300% on the west coast. >> is the same thing going on right now in the oil bu

what happened with enron is that 401-k plan.here are two different kinds of plans. 401-k are retirement savings, not backed by the federal government. plans e do it yourself where individuals take all the risks and responsibilities and money themselves and then they decide where to invest it do if they are lucky they well. they really kind of -- were great at market being, no substance behind it but it was money into our stock because we are such a great company and it was an horrible thing. we don't believe that there hould be more than just a little bit of employer stock put into 401-k plans for that reason. that is the 401-k plan. what we are talking about here are pension plans. called the lingo is efined benefit plans but typically employers put in money. he money is pooled and professionally invested. depending on what the formula is pension based on the rest of your life and your getting a lso if something it happens to you. these are lifetime pensions versus retirement savings plans. that is why they have been a huge adv

compare that to enron.rampant, intentional, thousands and thousands of dollars to a for crippled people. a cfo for that company went to jail for ten years. >> in some of these cases there are things about changes over time in sentencing and the complexity and sometimes inexplicable nature of federal sentencing. everyone talks about about the federal case as don't make this a federal case. infamous place of the variation is extreme in response to enron. typically dealing with people that have no criminal record which is one of the main considerations. on the other hand, it's been a subject of a lot of criticisms, what was the size of the law. all of a sudden you're talking sentences. economists debating, and and it could be a potential fraudulent scheme. large money amounts. a two or three year sentence, life sentence. real concerns, lots lots of angry things and opinions about how these seem or have adequate guidance. that is one answer. between cases,, also over time, different administrations, responses t

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. -- iniesta a los m cuatro a cero pedro hizo el eluesca por primera vez enron l storia jugaba en el tuvo a da empataroa cuatro contra elomo n. scanso perdiendo en su casa 3 lr a cero --jozabed empata para uno el dos a uno.. -- a los 38irma que... -- pero viene la un autogol de morcillo dejanigo lencia a octavos de fin de copa. =trafcpen===anfra --el supuestou de la asesinada miss honduras maria jose alvarado aparentemente fue captado en plena transmisin del miss mundo take vo ---como vemos en las imagenes la silueta muy bien detallada de la joven se observa detrs de varias concursantes en el evento. cont vo / gabriela -- loq ue ha dejado a ms de uno con los pelos de punta es que la -- loq ue ha dejado a ms de uno con los pelos de punta es que la figura se muestra, justo en el momento que le hubiese correspondido desfilar a la desaparecida miss honduras. -- para algunos expertos en video esto se tratara solo de un montaje. faithful store helper juanfra/two shot ---escuche esta historia....en rochester, minnesota "trabajar como un perro" se ha covertido en una sensacin --- take vo ---

. >> enron filed for bankruptcy.ow could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. many americans who have prescriptions fail to stay on them. that's why we created programs which encourage people to take their medications regularly. so join us as we raise a glass to everyone who remembered today. bottoms up, america. see you tomorrow. same time. another innovation from cvs health. because health is everything. >> family members of the isis leader captured. the breaking developments coming in right now. >> a blow to the president's plan to close gitmo. >> a veteran on the way to a suppor

acting in direct harm to customers the way that the tobacco companies did or enron did? no. so sorkin says this is not newsworthy. let's check in with landon doughty at cnbc news headquarters. >> reporter: scott, good morning to you. stocks reporting higher as last week was the worst week this year. last week the s&p down 43 points and nasdaq down 54. investors will keep their attention on falling oil prices and increasing interest rates. we'll keep an eye on that. >> horton works was on the nyse and new relic. let me give you numbers. 47% for new relic, horton works, 64%, huge pops for both of them. back to you. >> all i know is we saw confetti so that's got to be a good sign. >> they both made a lot of money. thanks so much. >> just a couple of hours, congressional lawmakers will announce they've agreed to fund an early warning system for california. the system has been in the works for nearly a decade. we're talking about an early earthquake warning system. it's already being used by bart to warn trains to slow down before earthquakes hit. but bart is one of the only few

so this was me kind of on deathwatch, city enron's office. i saw this earlier, -- sitting in ron's office. i saw this earlier, and behind this curtain is nixon and sadat at the pyramids. it had just been taken five or six weeks before. in the last several weeks before president nixon resigned, he had gone to the middle east and have been hailed in cairo and alexandria, and then went to syria, the first president to visit syria. then he went to saudi arabia and the to israel. he squared circle of israel and egypt in one trip and ended up in jordan. he came back for a week and then went to russia. so that is that day. this was, i have no idea why i was sent in there, because there was nothing i could do. this was the oval office. i went in, i guess to supervise, two people who knew exactly what they were doing and had done it before. these were techs who had set up the oval office for the resignation speech. the president wanted to speak, and spoke as he says in the resignation speech, this was the 37th president and this was the 37th time he w

acting in direct harm to customers the way that tobacco companies and enron did? no, they're not newsworthy and ought to stay out of the news. >>> results of an alarming health study show a number of women may be having unnecessary abortions. because of a new generation of prenatal tests that may be giving false positives. the study was done by the new england center for investigative reporting and followed pregnant women testing for edward syndrome. a painful genetic condition that is almost always deadly. it looked at women who used a number of different non-invasive tests that have been on the market since 2011. while other studies show these tests are more accurate than standard screening, the investigation points out positive results can be wrong. 50% of the time, it says many women don't get a second opinion and go off these results only. investigation points out companies market these tests without fully informing patients or doctors about their limitations. >>> palo alto considering beefing up its ban on smoking, now including electronic cigarettes. tonigh

his trials occurred in the wake of a white-collar crime wave: enron, worldcom, and martha stewart. >>tch out. >> the newshounds smelled blood. accused of looting his company of hundreds of millions of dollars and living the life of a pasha at stockholders' expense, he was the living, breathing version of wall street's gordon gekko. >> greed, for lack of a better word, is good. >> up to a point. what's puzzling is, why does a man who struggled so hard, so effectively to make it become so careless or stupid or arrogant? born in a tenement on the wrong side of the tracks in newark, new jersey, kozlowski worked his way through school. >> i played guitar in a band. i worked in a pharmacy. i worked in a carwash. i had two or three jobs going at any given time. >> where you came from, there weren't that many options. >> no, no, growing up in newark, new jersey, at the time, you know, you never thought of yourself growing up to become a ceo. >> he started at tyco, then a small new hampshire manufacturing company, as an accountant making $28,000 a year and worked his way up to ceo. he became k

realize that a meal made of dishes and another bad idea, why don't you talk to the people that work at enronand remember these are pieces of paper, people for heaven's sake and will turn out to be worthless even ones that you think are worth a lot. some indeed do go to zero and at least they stop to zero and the only way to ensure you're not destroying your nest egg is to diversify the cartons you place them in. the toughest thing about diversification. i find it's a real party spoiler. when will the cloud stocks rally and they jump up during a period of swath and no one wants to hear diversification is a free lunch. ask yourself would you be afraid to call in on wednesdays am i diversified because you know you would hear this and then be the butt of many jokes at jim cramer on twitter although i will entire you that indignity having eviscerated you ever so gently on the show. so let me give you the bottom line. i know you will hate me when the market is going straight up and you're stuck with some defensive stocks that i recommended. you will despise me when you don't have every dollar in t

have announced, $1 million less than the widow of an accountant on the 103rd floor who represented enroni spit on you and your children, mr. fineberg, i spit on you. that was an example of the invective at the beginning. very emotional. on the part of many, many families. >> what did you do? >> i listened, i responded as calmly and as best as i could, absolutely no point in engaging people in anger or disrespect. >> you said you changed your tactics. >> well, as time went on, i became, i think, less of a lawyer and more of a family counselor. less the technicalities of the program, and more empathy in trying, as best i could, to deal with the emotion, the raw emotion arising out of 9/11 and i think that was one factor that represent turn the program around towards success. time certainly helped. a statutory deadline to file a claim certainly helped. but i think all of this, together, ended up helping the program succeed. >> were there any restrictions on your staff about writing this story, like you have written in the book? all these raw emotions would lead to quite a narrative. >> trem

enron and some other traders in electricity took advantage of that. prices did spike. it was terrible. think it's federal policy to deregulate electricity. that is not the same as promoting competitive markets. that will ultimately have a lot of efficiency and benefits. the: what authority does federal regulatory commission have? over: they have authority resale. that constitutes 15% or 20% of the total electric system. overalso have authority electric transmission because it tens to be interstate in nature. the bulk of the regulation in the industry is at the state level. are the things we talked about initially. distribution, prices to generation, what kinds of fuels are used and so forth, that is heavily state regulated. unfortunately, states don't always see rings the same way. we have multiple regulatory regimes with different kinds of criteria and uncertainty for companies, particularly for companies that are operating on a multistate or even interregional basis. host: is any of the power grid managed by offshore resources? guest: managed by offshore entities or

four tests and find out how the weather is affecting traffic and it's time >> reporter: police and enron berkeley are bracing for a fourth consecutive night protesting last night a major freeway was occupied as is 2000 people or how about the different parts of the city and port city council meeting has been postponed canceled of the processes and gals their plans to disrupted tech of the scene from last night when hundreds of protesters stormed interstate 80 blocking cars near university avenue and the freeway and of the right to shut down an offer showers-- hours she was in labor stuck in a traffic berkeley firefighters rescued near that as the exit she delivered a healthy 8 lb. baby a few hours later this was majesty stressfree read the you thereby is blocking the amtrak train roared station was shut down for hours in berkeley about five convict people tried to get to the berkeley police department or were met with the police line that did not allow them through these areas. >> reporter: saw you decide to list the bay bridge with them or not successful glass bottles of the violent thr

teaches know, your mom you not to do this, but also everyone from enron to goldman sachs has paid a legalnd financial price for the kind of things they put -- what they thought was in private e-mail. guess what? e-mail is not going to be private in these days, and you have to act responsibly in these ways. >> when i was speaking to analyst, they said -- analysts, they said you should identify your crown jewels. nice ring on your finger. you probably have a safe at home. you know what is important for you and where to hide them. why this sony not know where their scripts, passwords, insurance plans are? they should have those in safe places online and in the physical world as well. they should have those places constantly changing, so that it's not in the same area every time. >> is this a case that we have gone online and become digital and no one is prepared? if you think about who works in i.t. departments at any sort of company, and i'm guessing a movie studio would be one, those people probably don't get paid very much. they probably don't get a lot of respect in the company. >> there

gasoline price manipulation, enron scandal, he delved into that very deeply. misconduct in the united nations oil program, tax haven banks and offshore corporate tax evasion. he's talked about that and talked about that. notable legislation as a result of the work he's done: wall street reform, consumer protection act, credit card act, patriot act. carl levin is really a very fine legislator. he fought for wall street reform when others were afraid to do so and helped restore the broken financial system and held powerful institutions accountable for their actions. carl's persistence earned him a slot in "time" magazine's best legislators, best united states senators. they called him the bird doger. mr. president, that's what he is. put him on an issue, and he will come back with the prey. he is very good. he never stops. he's a sharp overseer of the united states defense policy. he has spent his entire career promoting defense policy that protects america's interests home and abroad while safeguarding the men and women who serve. he's the chair of the senate d

gasoline price manipulation, enron scandal, he delved into that very deeply. misconduct in the united nations oil program, tax haven banks and offshore corporate tax evasion. he's talked about that and talked about that. notable legislation as a result of the work he's done: wall street reform, consumer protection act, credit card act, patriot act. carl levin is really a very fine legislator. he fought for wall street reform when others were afraid to do so and helped restore the broken financial system and held powerful institutions accountable for their actions. carl's persistence earned him a slot in "time" magazine's best legislators, best united states senators. they called him the bird doger. mr. president, that's what he is. put him on an issue, and he will come back with the prey. he is very good. he never stops. he's a sharp overseer of the united states defense policy. he has spent his entire career promoting defense policy that protects america's interests home and abroad while safeguarding the men and women who serve. he's the chair of the senate d

enron and some other traders in electricity took advantage of that. prices did spike. it was terrible. think it's federal policy to deregulate electricity. that is not the same as promoting competitive markets. that will ultimately have a lot of efficiency and benefits. the: what authority does federal regulatory commission have? over: they have authority resale. that constitutes 15% or 20% of the total electric system. overalso have authority electric transmission because it tens to be interstate in nature. the bulk of the regulation in the industry is at the state level. are the things we talked about initially. distribution, prices to generation, what kinds of fuels are used and so forth, that is heavily state regulated. unfortunately, states don't always see rings the same way. we have multiple regulatory regimes with different kinds of criteria and uncertainty for companies, particularly for companies that are operating on a multistate or even interregional basis. host: is any of the power grid managed by offshore resources? guest: managed by offshore entities or

enron created sarbanes-oxley.that's required and need some penalty aside from just embarrassment and monetary losses to get the corporations to start stepping up. >> i think we have to leave it there. i was just going to say, also, congressman mike rogers wrote about this to collaborate with congress coming the release of this kind of sensitive information. >> they have to do something. they have to do -- only going to get worse. joe, thank you for joining us today. >> thank you. take care. >> see you later. >>> so the question is, would you invest in somebody else's lawsuit? our next guest has a product to allow you to do just that but is it actually a good investment? we'll discuss that. some of the risks and want to know what you think. vote at cnbc.com/vote. that is straight ahead. would you invest in somebody else's lawsuit. bill, would you? >> i have questions for this guy coming up first, though. >>> plus, this story of a fire destroyed his only production plant this past march but the head of a major pizza