third of all, when you say enron, and something is enron-esque, what was enron doing at its nature? it was making undisclosed related party entities to go ahead and alter their true financial results. as we've seen, that's the same exact thing we've seen within valeant. >> you've said on friday this stock was going to go to zero faster than herbal life. so you have made -- >> no, what i -- actually -- >> -- where you thought the stock could go -- >> no, read my tweet again. it has a better chance of going to zero than herbal life is what i said. and i still agree with that. and i said that because he had a three-hour conference call depending valeant in which no new information was brought up. i personally believe the main reason for the decline in the stock price was everyone was sitting on the end of their chair looking for him to give some reason to buy the stock, some form of hope in the stock. when his call finally ended, no one saw it, and i don't think anyone maybe wanted to go home long over the weekend. we wake up this morning to see a goldman sach's downgrade. you saw num

if it's just philidor, it's not enron. >> first, i had a heart attack when i saw the pharmaceutical enron stuff. that's ridiculous. liz: which is what the short seller who picked up yur research called it. he said enronesque, let's be fair. >> andrew has done very good work over the years. is a highly provocative guy and done real well for himself on. this particular claim that it's an enron, that's not right. >> you're owning the stock, this is not something that -- this is not fatal to the company? >> is it fatal? no. i would argue that it's certainly serious and they're going to lose a lot of pricing power. wonderful thing about valeant is they got many times what they could get through the channel. liz: this is a $263 stock. folks, in case you are listening on xm, it's now $98. >> i'm playing devil's advocate. it goes to 90 a share, this is something to buy. if you think about it, the market is pricing in the litigation, pricing in the fact it's not going out of business, pricing in the fact it's not enron, it's something kind of sleazy that was done for a while, it's not enron and st

even if all that is true, that doesn't necessarily make what valeant is doing a fraud or enron-like, does it? >> so you're telling me that there's something that can be a half a fraud? >> i want you to answer the question. maybe they should have -- >> there's nothing -- >> maybe they should have disclosed more about filidor. i think investors who have been long valeant stock would have wanted them to do that. maybe there was some shenanigans going on within filidor. we're talking about -- let me finish. we're talking about 6% of valeant's revenues.

i used to have a radio show mom telling me to stop bashing enron. i said they may diversify away from enron. each time i did it i heard about how they got discounts. such a great company was too the fact is it was down so much they couldn't sell. then one day. it was gone. many people have made this argument before and the company stock is still the number one investment. why? you understand the excuses. i'm telling you, that excuse doesn't cut it. you have to cut back. just cut it back tomorrow. here's the bottom line. diversification comes before everything else. so never put more than 1/5 of your retirement money in the stock of the company you work for. just like i advise not putting it on more than one-third of the sector. you're doubling down. stick with cramer if you want to know about how to manage your retirement money so you can go there's much more "mad money" ahead. americans are living large and that should change the way you prepare for retirement. ira, 401(k). both. i am on weighing in. i have asthma... ...one of many pieces in my lif

some of -- enron. the pricing things they do is done by a lot of places, and i don't think they're going to put them out of business. it's going to go down further. liz: we'll watch it. right now it's down nearly $15. >> pretty amazing. liz: charlie gasparino, thank you very much. closing bell, we're 39 minutes away. remember that commercial where they were singing sprint is in here, sprint is in there? sprint and a whole bunch of other u.s. companies are rushing to be in cuba next. fox business hitches a ride with america's biggest companies as they make their first visit to the island nation that's opening its doors now. we'll bring you along. >>> and you've got to visit our social media site, particularly facebook. we did end up, thanks to you guys, hitting 17,000-plus likes on facebook. thank you so much. we want more. tell your friends. follow me @lizclaman as well. facebook is facebook.com/lizclaman and i'm on twitter. to don't tell meow can't reach me, lizzie. "countdown to the closing bell" com

i also asked left if he did regret making the analogy to enron. here is what he said about the statement that valeant put out about him a short time ago. >> i'm flattered. they've turned me into some character. what am i going to say? i couldn't get my kids off to school today without a fight. i just don't understand how they can -- they should be more focused on what has happened to them over the past week. they should be more focused on the people who they're gouging prices of prescription medication who need the medication on the future changes in government laws, on their markets, their pbm relationships. and the fact they issue a press release on me. flattering? i don't know. >> it's fair to sayhe citron research helped shine a light on the valeant business that a lot of investors didn't know enough about. that's what i heard privately from them. maybe they should have known more about them. maybe valeant should have been more forthcoming. >> philidor, the contract -- >> one of the specialty pharma companies. >> that was at the center of it a

scarlet: he brought up the connection to enron without proving it.irm case for defending the company aside from the fact he believes in it and thinks it's : the best wayew to look at it is to look at the stock friday. the answer is probably he was not successful. the shares went down. he was there and did a huge presentation and invited investors and went through dozens of slides. he said this is why it's not a big deal. it, he says it's a it wasnagement team and a lengthy and detailed presentation, four hours with tons of questions. at the end of the day, the stock was still down. with andrew left walking his comments back, who gets credit for what we are seeing today? i went through some researcher or its and valeant has seen some grant debt downgrades. the commentary says longer-term, they still like the valley and story. they need to establish confidence. drew: they are saying there is some good assets. that's an idea we have heard from many people. they say there will be volatility we will go through some months if not years of waiting to unlock

it is a corporate crisis that has echoes of enron. that is the view of some people. as you look at that situation, it is a call to reduce the risk in your portfolio? 85%hen you think about it, of emissions come from 35% of the stock market. if you have a process of screening or excluding, or if you are really active, you can reduce the risk of this exposure quite materially. jon: for the people watching, they say that is easy. pullback from the biggest polluters, anyone in the canadian tar sands, energy, or coal. is it that simple? >> it is a bit more complex. those who have sinned the most and proportionally improve are among the best investments. this is all done to corporate governance and available technology. available technology has become a great deal cheaper. think about wind against other generating power. the ability of countries and companies to mitigate has increased. -- we tendovernance to find a strong relationship between countries with sustainable plans for the esg, and good overall corporate governance, and overall long-term return. jon: the reality

we are not going to use signing statements as a way of doing an enron around congress.ere are critics that suggest using executive action to push immigration reform is in fact doing that. would you argue against that point and how so? >> i would argue against that point merely by sitting the decision made by bush 41 who expanded the immigration program to cover 1.5 million unauthorized children and spouses. it represented about 40% of the undocumented population in the united states at the time. he did that using his executive action. president obama is proposing to use his executive action to have an impact on a similar percentage of the undocumented population. i think that is a pretty clear indication of the precedent that is in place here. the other example is actually president reagan. he signed the family fairness program that deferred the deportation of children whose parents were applying to be legalal. i think you could make a stronger case that president reagan was the run doing an end run around congress. but i didn't hear any republicans complaining about it

is not a house of cards like enron. ♪ ♪ david: welcome back to bloomberg markets. i'm david gura. business flash, the biggest stories in business right now. carl icahn has announced a 2% stake in american enterprise group, making them one of the top 10 holders of the company according to data compiled by bloomberg. he has been pushing for a breakup of aig. fetch her janet yellen she will provide the house committee with "copies of the materials previously reviewed by committee including aboard," report by then german ben bernanke. the disclosure is a win for a house now that has been locked in a tussle over oversight for several months. -- kuboment with cuba roaming is when a wireless -- .uba roaming it is the latest american company to capitalize on improving diplomatic relations with the island nation. you can always get more business stories at bloomberg.com. julie hyman has a preview of insurance companies announcing earning soon. julie: after the close of trading. we will hear at aig. if you look at aig, shares or higher than 1%. full familiar with carl icahn's plans have sai

. -- charlie: the criticism notable is the criticism that he denied any knowledge of enron contra --n-contra. jon: he did. about hises me reaction to iran-contra is he was in the loop. he famously said he was not in the loop. it was machiavelli and. an.machiavelli charlie: he thought it was ok to lie if the ends justify the justified the means? it was supposed to open up channels with iran. he initially denied it was true. he then became an advocate for getting everything out as soon as possible. he would shift his story. some days he would say, i cannot tell you what i told ronald reagan. some days he would say, well i express reservations. you, hehink it tells was an old spymaster. he was a realist. he wanted to be loyal to reagan. this was breaking in 1986, on the eve of the 1988 campaign. believese i use is, i that his reaction to iran-contra was unworthy of his essential character. he is a gentleman, a man of honor, and in the crucible he opticd to stick eight -- eight on an important decision. meetings that he later said he didn't think they were against it. schultz or caspar w

vw has echoes of enron for some people.uation, at that is it difficult to reduce the risk in your portfolio? that 85% ofink emissions come from about 35% of the stock market including transportation, if you have a process, a screening or excluding or if you are an active investor, investing in mitigation, you can reduce the risk of this exposure quite materially. for the last several years, it has not cost you anything in terms of hamas. from janusus now capital in california is -- the sun is not even up there but i'm sure there is a bright glow emanating from washington that you can see from there. am glued too and i six of my bloombergs and they are all telling the same story that it's almost 100% yellow light changes in december to break green -- two bright green. before going to bed, i calculated that any jobs number over $150,000 would be sufficient. the fed views the economy and future inflation through a phillips curve lens that speaks to low unemployment and a new around 5.25% which is now below that. i think they a

citro published a report saying could this be the next pharmaceutical enron? and that sparked a sell off in v valeant stock since august. valeant used such pharmacies to sell conventional strdrugs to patients. they announced last week it would cut tie with the pharmacy change philidor which will start closing it's operations. the stock has closely tracked valeant over the past few months. both relied on acquisitions paid for with debt to fuel growth. they have also been singled out for the sharp drug price increases. it treats multiple sclerosis has gone from $1,600 a vile in 2007 to 28,000 dollars. it doesn't respond to market speculation and it's fully confident in it's business model. the ceo will be on squawk box today at 7:30 a.m. eastern time. andrew left will be on fast money halftime report today at 12:30 p.m. eastern time. back to you. >> landon, thank you very much. >> let's get back out to milan and tim cook speaking to students at bocconi university. let's take a listen. >> design and craftsmanship, an artesian's focus on detail. throughout history

you may have forgot about enron scandal, but sarbanes was passed because of it.e bureaucratic 1,000 page dodd frank law, but this won't prevent the next financial scare, and then again government will grow again unless bernie sanders government protection act will come, and it will be this long. the scare is the common goal, but government always grows. people fear they can't get health insurance, we get obama care. we fear terrorists, 1.0 to form the tsa, which now stands for thousands standing around. government based on fear is bad government in three countries without this stuff. life gets better, despite the terrorist threat, we're safer than ever, we live longer than ever and better lives than ever. democratic candidates lied at the last debate. poor people in america have been getting richer not poorer. there is one threat to this progress and that's what should scare us this halloween. and i'm glad some of you reminded me about it. when i ask on social media, what do carol tweeted us, our government scares me. politicians' lies and corruption. on facebook

john: and the enron failure. we are born to fix these failures with sarbanes-oxley.didn't do anything to prevent the next economic downturn. john: it added thousands of people -- pieces of paper to cost a ton. ed: didn't have the positive effect they were promising and now what did they do? they say we need more regulation so we now have the dodd-frank act which is 30 times longer. it's extremely onerous and i'm quite sure it's going to do nothing to prevent the next economic downturn. john: and it didn't end too big to fail. another example the war on poverty. they lifted some people out of poverty. ed: housing projects would have disincentives for working. there were maggots for crime, terrible places to live and what happens. [inaudible question] these years later they still exist in most cases. john: some are being blown up and they have build new versions of them. ed: now the department of housing and urban development did they get put out a business? know they are still spending money year after year after year. john: public schools? ed: public schools the same

if you look over time at companies that played it too close, worldcom, enron, and i don't say valeantcatches up with you. you can have a stock -- enron was the most admired company in america on number of times, listed in fortune magazine. look where it ended up. eventually the market finds out if you are doing something wrong. david: we hope. from your mouth to god's ears. next, highlights from today's program, which should be good because i think we had a pretty good program. stephanie: i think so. david: the sun is rising over san francisco bay. we will be back with "bloomberg ." stephanie: almost makes you want to live in san francisco. almost. ♪ david: we are now looking at a live shot of indian prime minister narendra modi and u.k. prime minister david cameron hosting a joint conference in london. seems like every major economy goes to london. we had xi and now modi. now, some of today's top moments. >> id. think you can make a fair comparison between macy's, a stellar -- i don't think you can make a fair comparison between macy's, a stellar retailer, and jcpenney. >> you ha

. >> i think as it related to any -- any allegations of fraud, again being the enron of pharma. but in terms of the specialty pharma business, that has changed dram atically in the lat few weeks. before this started to bubble to the surface. i don't think he had to double down and has -- where we go, hard to know. >>> let's move on. the thompson reuters market continuing to go lower so we want to know what is next for the likes of gold, and are they headed higher or lower. let's bring in dennis gartman and let's play a little game called higher or lower. we'll start off with oil. dennis. higher or lower. >> it is still going trend. the trend is still lower. we had a rally for a short period of time depending on the saudis but it is still bearish and going lower. >> we have not see the lows for the year for oil. >> i'm afraid we have not. >> gold, higher or lower. >> still going down. the trend is still -- i think this is the third anniversary today of the high in gold. in just over $1,800. the trend is still downward. in dollar terms, still going lower. >> and stocks. higher or

enron, adele communications, cal pine, delta airlines, they all filed bankruptcies.companies in the convert market are often a warning sign. but the best indicator short-term is look at the equity market capitalization versus the debt. so if you think about a piece of pie or a whole pie, once the pie starts to become, say, 60% to 70% debt and your equity is just a quarter or say 40% equity versus 60% debt, then your odds at the table are weakening against the bond holders. >> so going through some of the solar issues, larry, the ones that you high lites are first solar, which has a small amount of debt compared to the market equity capitalization. $5.5 billion. solar city's $2 billion versus $2.5 billion and then you come to sun said is, which is a huge debt. >> that is a big pie. and a year ago they had 60% equity and the 40% debt but the equity has fallen so much but it is staring at a colossal pile of debt in front of with covenants protecting the bondholders so watch out there. but another classic indicator to watch for investors sitting at home and when you are

he has compared it to enron. where did valeant go from here. meg tirrell is the cnbc tech reporter. today we got wall street guys coming out, saying step away from the stock. >> we did. it is a continuation of what we've been seeing. interestingly, citron put out the tweet on friday saying the next report is dirtier than anything we've seen before and the stock took a hit. an on sunday in an interview with the "wall street journal," it dials it back and it comes out today and it said it is the last wordond valeant and they are done and passed information on to media with bigger legal teams and say our work here is done. so citron saying it is moving on but it is clearly the fallout -- the fallout isn't over for valeant. you are seeing goldman sachs downgrading the stock today to neutral. to saying questions remain about the stock. they do have several things looming over them. the fact that they are saying they won't raise drug prices as much and there is scrutiny of that. they have multiple subpoenas from the government into the drug prices and the patient access program. and phill

say, significantly, that he did not think it was an enron type situation.: noah buhayar of bluebird news. tomorrow, staying tuned to my interview with buffett's son. ♪ littlelet's start the work first word news this morning. courtney has more from our news desk. courtney: search teams in egypt's peninsula have finished combing the area where that jet crashed on saturday. it appears that an external impact brought the plane down. rejects the idea of pilot error or technical issue. all people on board were killed. u.s. safety investigators may have found the wreck of the cargo ship that disappears into the bahamas during hurricane joaquin on october 1. on board.were investigators using sonar on the ship 15,000 feet lodi ocean's surface. they are waiting for confirmation. areu.s. and south korea expressing grave concern over north korea's plan to conduct missile and nuclear tests. south korea says they have their northan to destroy korea's missiles if they need to. to start hisoping campaign this week. he starts a three day tour around the release of a new boo

hundred savings-and-loan executives prosecuted, convicted, and sent to jail 20 years ago, and some enrons were. but they have so gamed the system, the corporate lawyers, it's extremely difficult to put them in jail. and by the way, if they went to jail, they would improve the prospects for prison reform. [laughter] and the food would be better. [laughter] the governments buy almost everything we buy. you know, it's called government procurement. they buy food, they buy clothing, they buy motor vehicles, they buy energy. they buy construction materials. and they can do specifications where they can stimulate innovation, and we got airbags that way. the auto companies controlled department of transportation under reagan, and we couldn't get airbags. so i went over to the general services administration, and i said to the administrator, who, luckily, happened to be a rigid republican from new hampshire and he was an auto supply dealer. now, listen, if you know anything about auto supply dealers, auto parts dealers, they have no awe of the auto companies in detroit. so i said to him, "you bu

problem, pakistan and enron became an alternative, we chose good relief.n terms of trading with india, iran was her only other option. we could not trade with india through pakistan, but we could through iran. the nuclear deal is concerned, we do not like the nuclear weapons in our neighborhood. we don't like that pakistan and iran is nuclear, russia, china, india. it is very problematic for the neighborhood. it looks like we are sitting on an atom bomb. we don't like that. we can't do anything about it, it is a bigger problem than us. yes, sir. speak into the microphone. nonpolitical and social i highlighted a few points. kunduz, what is the reality? there are rumors that international forces were involved in the fall intentionally. you were really involved, can you tell the three big achievements qu of the involvement? you be running for the presidential election. i know it is early, that we need to know now so we could have room for a better selection. what would be the difference between you and the president that you are running against? the third one

malinckrodt is potentially worse than valeant, even though in the original report valeant was another enronwe had the co on "squawk box" this morning on malinckrodt speaking specifically about some of the allegations. here's what he had to say about the relationship with specialty pharma. >> we do use specialty pharmacies. we don't own them. they are a third party participant. these are typically owned by large companies, publicly traded companies. their economics is separate from anything we do. >> they do not own or control in any way the specialty pharmacies. that may be a key distinction, jim, in terms of malinckrodt. >> how about sales which are not that good? >> sales are not that good. but the multiple on the stock is low at this point. talking about 7 1/2 times a lot of people's 2016 numbers, seven times the 2017 numbers. malinckrodt has a billion dollar drug. there has been controversy about it when it was owned by questor. that was bought by malinckrodt. >> right. i don't know. i think these are all -- we're in a market if you get the wrong tweet, you're crushed. there was a bat p

. >> unhealthy workplace enronment and we've translated that into -- >> it's totally healthy. >> donald, you seem amused by all this. >> of course. [ laughter ] >> what is it like because you have -- you have, sir, you have done it all. you really have, and i know that you were joking and saying that after all the great characters including president snow, i look at you, and i'm looking at president snow, what do little girls when they want to take a picture with you say? >> no, seriously they -- they'll stop me in an airport corridor with their mother, and they'll pull at my leg, and i'll look down, and they say, could i have my photograph -- they will -- the mother will stand them up on chair and we'll be standing together like that and the little girl will go, could you look mean? could you look mean? >> that's amazing. >> i don't know how to look mean. >> yes, you do. >> it's amazing because we were here for the first one and you were little babies w when you me here and you were out -- i think we even have a picture of your premiere from the first one a few years ago. no, that's no

the head of short selling firm citron research compared valeant to enron and now he says mall inn i don'torth than val yabt. >>> and donald trump weighing in on the starbucks holiday cup controversy, that's later on the "closing bell." >>> the s&p added only 3, the nasdaq was down 12. short seller citron research taking shots at another biotech company, this time mag inn krot, the firm saying it has more down side than valeant. meg terrell joins us with more now. >> the story about mallinckrodt seems like it happened in 24 hours and almost may be over although we have to see what's next to come. this tweet came out yesterday from citron research saying that these prices mallinckrodt has significantly more downside than valeant, a far worse offender from the reimbursement system. that drove down mallinckrodt shares 17% yesterday. folks thinking they were going to focus in on this drug axar that mallinckrodt acquired in its acquisition last year. this was a drug that was approved in the 1950s after quest core got it raised the price from $1600 a vile to $23,000 a vile. it has continued to r

from a corporate crisis management respect, some people have compared it to enron and others bp, whatbara: it is real the fact that we are talking about it and it is a global brand, the real crisis of confidence in the company. any time you touch a brand in this way, and any time you have a situation where the customer or the client is impacted, it will take some time to fix this. changing up management and making it right is something that happens and you have to fix it. from the banking industry, whom i to throw stones? you have behavioral issues, you need to root out the cause and move forward and be there for your customers. david: given the specificity of the epa letter, for volkswagen to come out and say that they do not have this to five, it was a missed medication, they must have been some studying to believe they had a good case on this. so.: one would hope given the way they responded to the initial study and cannot to say, yes, we did do this, stick with us and we will ask this, i would suspect that if that were the case for the porsche and audi, you would hope there may co

. >> shares of valeant lost half the value after a piece called the pharmaceutical enron.rma has more downside than valeant. that's on "squawk box" after the break. >>> welcome back to "squawk box" here on cnbc, first in business worldwide, and among the stories front and cement nter, blackroc slashing, marking the firm's broad market ishares product, making it cheaper than a competing one from rival vanguard. better than expect the results, net sales rising 19%, and gap posted a 3% drop in october same store sales, missing estimates. the retailer returned earnings fall short of current consensus. >>> another drug company in the cross hairs of short seller citroen research. we are joined now by meg with more. >> the short seller causing issues for valeant in the recent weeks struck again with a tweet yesterday about mallinckrodt, down 17% yesterday, saying they are more down than valeant, but far worse defender, more to follow, valeant can't live in a vacuum. they assume citroen is talking about a drug acquired last year, approved in the 1950s, and they had raised the pric

william: if it goes the way of enron, the market is a total confidence, and implosion, it won't matter brooke sutherland, thank you so much. cohan, always a pleasure. we will be back with more. ♪ david: 30 minutes and 24 seconds from the opening bell. stephanie: joined by our coanchor, brendan greeley. brendan: good morning. you know what else we have with us? david from goldman sachs. we have been talking about the fed in the green room and there is more to come. david: offside all the time. -- all fed all the time. stephanie: a developing story we are following this morning, vladimir putin says there will be "serious consequences in turkey." that is in response to turkish forces shooting down a russian warplane earlier today. vladimir putin says he will not tolerate such crimes. i would like to bring back ryan chilcote joining us from london. trying to get our heads around the ramifications of a statement like this from vladimir putin. what this means for turkey. ryan: i think the ramifications are to fall. i wouldn't be surprised if the russian president on the back of this one afte

and i certainly won't treat the white house as mini congress or do enrons around the legislative branchave right now. [applause] whether the focus is jobs or whether it's trade, whether it's immigration or whether it's national security, our policies must be based on a clear understanding of how the world really works. not the naive assumptions of folks uninformed by experience or by history. even when the right policy is not politically correct or even when the right policy is not popular with the big political donors, a strong person, i, will have the fort attitude to follow through and do the right thing for the people who i really work for, which are the people of the united states of america. [applause] i can guarantee now you this. i won't wake up every morning seeking the approval and the applause of the "new york times" editorial page or the harvard faculty and i won't get it anyway. [laughter] my sole focus if you give me the chance to be your president will be to do the people's will. by removing government barriers to prosperity, by enforcing our laws, by protecting our home

and i certainly won't treat the white house as mini congress or do enrons around the legislative branchsidency will never look like a lawless imperial presidency like the one we have right now. [applause] whether the focus is jobs or whether it's trade, whether it's immigration or whether it's national security, our policies must be based on a clear understanding of how the world really works. not the naive assumptions of folks uninformed by experience or by history. even when the right policy is not politically correct or even when the right policy is not popular with the big political donors, a strong person, i, will have the fort attitude to follow through and do the right thing for the people who i really work for, which are the people of the united states of america. [applause] i can guarantee now you this. i won't wake up every morning seeking the approval and the applause of the "new york times" editorial page or the harvard faculty and i won't get it anyway. my sole focus if you give me the chance to be your president will be to do the people's will. by removing government barri

talks about, sidney talks about the stevens case and also about some other case including one of the enron prosecution, u.s. versus brown and arthur andersen prosecution. various aspects in which there's overreaching. i don't want to brush with the broad brush, too broad of a brush, because there are many, many, honest and fair prosecutors in state and federal court, but there are enough to worry about. there is another one high profile case, duke lacrosse case where the attorney of the duke lacrosse case. dna tests taken. they found dna of four people, none of whom lacrosse player. the district attorney hid evidence leaving the defendants hanging to be vilified and to be stand accused and having lives wrecked, the d.a. did other terrible things, eventually nifong got disbarred. plik t michael morton case convicted and served 25 years killing his wife, in texas, and the reason this happened, one of the reasons it happened the ken anderson, prosecutor, hid evidence, it was evidence of another man lurking out there, came from the victim's son. the prosecution hid the evidence. now this was b

talks about, sidney talks about the stevens case and also about some other case including one of the enronprosecution, u.s. versus brown and arthur andersen prosecution. various aspects in which there's overreaching. i don't want to brush with the broad brush, too broad of a brush, because there are many, many, honest and fair prosecutors in state and federal court, but there are enough to worry about. there is another one high profile case, duke lacrosse case where the attorney of the duke lacrosse case. dna tests taken. they found dna of four people, none of whom lacrosse player. the district attorney hid evidence leaving the defendants hanging to be vilified and to be stand accused and having lives wrecked, the d.a. did other terrible things, eventually nifong got disbarred. there's a michael morton case, which shows everybody. michael mohr trton was convicted served 25 years for killing his wife. this was down in texas. the reason this happened, or one of the reasons it happened, was the prosecutor hid evidence. it was evidence of another man lurking out there that came from the victim