. >>> way back to enron? >> news coming out of the wreckage of enron. >> reporter: when enron imploded in 20001 us throws of people lost billions of dollars. the cfpb says its fund is to bail out victim of the next enron collapse. most of the fines are paid to the treasury, the general funneled. that's where takata's fine went. >> congress has no business spending that money. the money belongs to the people, the people who are driving around in dangerous cars like this. >> reporter: a consumer advocate told us this set up is unlikely to change. she says she and others have faemted to change federal law to focus fines on victims. but congress, dong has resis. >>> coming up, she booked a trip but later canceled at the urgings of the federal government. but her airline wouldn't issue a full refund. we stepped in to help. >>> welcome back to our nbc bay area responds special. now a pleasantton woman who had to cancel her much anticipated vacation for health reasons. she thought she would get a no questions asked

all his retirement was in enron stocks. if you haven't watched the movie "enron rlt the smartest guys in the room," or you can read the book by the same name. one image stuck with me. a staff rally where leaders extoled the virtues of the firm whipping them up to buy the stock even when they knew it was worthless. leaders had sold their stock while urblinging employees to buy it. they pressured new employees to buy enron stock to keep the price inflated and usually fired 10% of the workers every year. workers felt pressure to buy stock to show commitment to the firm. i can't support a bill that gives employees fewer protections. i can't support a bill that encourages employees to forego cash in their paychecks in exchange for an unverified investment option. i see you reaching for the gavel, i submit the rest of my commenters in record, mr. speaker. i vote urge a no on this particular piece of legislation ntil it allows for disclosures. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman f

john: and the enron failure. we are born to fix these failures with sarbanes-oxley.idn'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

john: and the enron failure. we are born to fix these failures with sarbanes-oxley.onomic 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 thing. we have tons of examples of faile

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we heard about moneyed interests and corporate wish lists and enron, which is a publicly traded company which has nothing to do with this bill. that might play well in a left-wing political base, but that is detached from the realities of what our economy is about. and as we have talked about, 60% of all new job creation happens in small businesses. these are not corporations. these are l.l.c. limited liability corporations. ese are subchapter s, sole proportionateships. these are small entrepreneurs and innovators. i looked up the definition of innovator and it's a person who introduces new methods, ideas or products. those are the kinds of dynamic elements that we are seeing here. and i think this confuge between corporations and enron and what we are trying to do here is a disservice to the american people. this is about making sure that we update basically an inflation escalator from 1988. we update a rule that the s.e.c. could have the power to do, which has not done, that benefits employees and benefits those owner employers' workers who oftentimes more often than not work along s

new business friendly enronment. new lower taxes.d new university partnerships to grow the businesses of morrow today. and learn more at esd.ny.govips >>> it is time for "the lightning round." [ buzzer ] and then "the lightning round" is over. we start with david in florida. david? >> caller: hello, sir, thank you for your humor and your incredible market wisdom. can i have your take on royal dutch shell. >> i prefer chevron which had a pretty decent quarter today. >> caller: jim, big fan of the show, thanks for having me. how about a big boo-yah for bofi. >> too much risk there, my friend, jpmorgan is a little bit strong. let's go to donald in washington, please. donald? >> caller: hey, a big boo-yah to you, jim, for educating us peop people. my question is, wifi, should i hold? >> if you go through the wi-fi part of the comcast call, it's so positive. gigantic growth, that's where you're going to go. >> caller: jim, thank you so much for helping me make money for retirement. >> you're welcome. >> caller: symbol a, buy, sell or hold

potatoes and chopped up if the company were calling to pound bags of frozen southern style hashbrowns enronr. dagen: one of the craziest stories the craziest stories i've seen in a monday morning. look at the futures pit 198-point jump for the dow this morning he dow, nasdaq, s&p and over 1% today. we like it. thank you are watching "fbn:am." >> will send it over to dagen mcdowell. dagen: good to see you, ladies. what happened with the mkets rallying. good morning, everybody. i'm dagen mcdowell and for maria bartiromo. monday, april 24th at top stories at 6:00 a.m. eastern time. congress back in session as the president approaches its 100 day in office. he is ramping up efforts on health care, tax reform and a void in a government shutdown. >> will have an agreement at the end of the day today. if the house can get its ducks in a row to vote this week on health care they could do that as well. >> i would like to have a vote this week that the leadership knows that they got a vote this week. >> a closer look straight ahead. second round of the french election is set. marine le pen is going h

enron ald reagan, he didn't get much done in his first 100 days. his tax bill was not passed until july. most presidents have achieved very little in the first 100 days. but this 100 days thing made sense for fdr, hasn't made sense since then. tom: let's talk about the government shutdown that's looming. there is the risk of the shutdown appears low. budget officials are calling around to the agencies, come on. and the administration does not believe there will be funding lapse that will occur. do you concur, disagree? what do you think? >> republicans are going to have to make some concessions. one of the things democrats want is to spend billions of dollars to make sure that the subjects does for people on obamacare are there and then what they have to pay doesn't go up. so that's a lot of money. but republicans will have to give them something to get this passed. >> the other thing republicans want. mike mulvaney came out and said -- it sounded like he was saying the typical washington deal, we'll kick the can down the road. how about that wall?

remember the solution after the enron scandal?ugh new law, we will act against those who have shaken confidence in our m >> tha >> that gave us a law called sur veins oxley which cox americans billions in paperwork but didn't prevent madoff's fraud or the next bubble. >> the economy in crisis. big banks in a death spiral. >> banks made bad decisions. it makes sense that you should have a rule to stop that. >> no. >> but what about that cayman building? doesn doesn't it suggest tax fraud? thousands of companies are registered here. >> it has nothing to do with in in delaware, there's buildings that have ten times or a hundred times as many registered com >> >> it's true. companies register themselves in delaware because delaware has simpler rules. i wubs started a business there, and in just one week -- fox t-shirts? fax hats? -- i could have registered my stand even faster in the >> wha >> what i set out to do was to design a system that was market responsive and fast. >> john seymour helped create the simple rules. it takes just

developing is definitely used for only one thing, that would be the development of nuclear weapons and enron may be violating the terms of the jcp away. i asked the press secretary about that a few moments ago. as the present concern that iran may be cheating on the deal like the u.n. weapons inspector says they have a centrifuge that could be in violation? >> i think that is why he's asking for this review. if he did not. if he thought they were fine, he would have allowed this to move forward. i think he is doing the prudent thing by asking for a review. >> of course, president trump during the campaign pledged that he was going to renegotiate, redo the iran deal, now there is talk in washington that he may scrap it altogether. the white house was not giving on that front, they want to conduct this interagency review before making any decisions on that front. as to the interloper at the press briefing today, while sean spicer was under fire, he had a little help, rob gronkowski, the tide and for the patriots who were here today to celebrate their super bowl victory, stuck his head out from

administration, this has been controversial, for instance, i bring you back to george bush and those enrontings. "usa today" we broke news using the visitor logs about democratic on-air tv personalities lobbying the white house. so it is an issue when the american people can't see at a minimum who they're meeting with. those logs don't tell you exactly what's being discussed, but in every administration, i can bring you to examples of where that information has been critical and has been in the public's interest in terms of having disclosure. so it will be another flashpoint, and another thing that the media and critics will point to as being a turnaround from the way that the president campaigned. >> yeah, and louise, i always wonder about the politics of a decision like this because on the one hand i imagine, this is true of any administration, there are people you're going to meet with who if it's revealed you had the meeting, your opponents are going to make plague hay o political hay out of it. maybe you don't want that getting out of there because there could be a political price. on

so we have off balance sheet financing here for this hotel, just like we did with enron at wilcom. if we don't see through the phony trusts and realize that the money is going to the president, then we're not addressing the conflicts of interest. and the gsa is not doing its job. they're just wrong in their conclusion on that. >> and richard, how do you see donald trump's refusal to release his tax returns as part of the complex of the conflicts of interest questions? >> that's done enormous damage. first we have the russia problem already because of proven espionage by the russians in the united states with the apparent involvement of some americans. we don't know who yet and we don't know how close they were to the trump campaign. but we need to know what financial ties our president has to russia and to other foreign governments. and that can only be disclosed by finding out the sources of financing in the companies he owns that information is not in his public financial disclosure form. a lot of information would be in his taxes. and he refuses to release them that is a serious

we also had the collapse of enron. we were concerned -- be concerned about prevention. we had to be concerned about thats of civil liberty arise when you do with prevention. and how some liberty issues protect american citizens. ofhad the corporate scandals 2002 and 2001 which put the department of justice in a unique role of dealing with the potential collapse of our economy. if you do have things that come up, i think that the priorities will take a backseat. let's hope he will have to do the kinds of things that we had to do at the beginning of our administration. great concession -- not concession, a agreement with pat. the department is a big place. he recognized that the prosecutors and lawyers that we all deal with have a sense of fairness and justice. there are some that are unique and different like in any organization. i think it is very important. that inhim to agree this community, there are experts on what constitutes an effective ethics and compliance program. we continue to have a dialogue. this community continues to have a dialogue with the department.

this is also important to my state, having fought the enron case and making sure that the federal energy regulators did their job in protecting the ratepayers of washington from, at the time, what was in my opinion a violation of the federal power act on just and reasonable rates. we had to go to a great extent to make sure that the agency's decisions were inputted and considered to make sure that we didn't become the deep pockets. so making sure that this doctrine was continued and not overturned, judge gorsuch concluded that chevron v. the natural resource should be overturned. so i find this record troubling. also, yesterday was equal pay day and a lot of discussion about how women still face unequal wages. what would judge gorsuch do about equal pay? as a professor, he told his students that women manipulate family leave policies for their own benefit. as a judge, he recently ruled against women -- he frequently ruled against women and their rights. in the hobby lobby v. sebelius, a privacy held company in which was a store chain challenged the affordable care act and the birth contr