joining us on set is new york attorney general eric schneiderm schneiderman. to abuses in if the mortgage crisis. you're a hero among thieves. the man who puts the thieves in the places they belong, we hope. what do you make of this situation with jamie dimon and chase, $2 billion in losses? we talk about whether banks have quote/unquote learned their lessons here. doesn't this hold every stereotype that these guys want to play fast and loose no matter what? >> it may well. i don't know the details of the trade. we are in the midst of pitch battle right now in washington to figure out what dined of reregulation we can do. people talk about principles. unregulated markets always crashed. always produce masses losses on risky bets. if this was something that wasn't a legitimate hedge, it was more like a momentum trade, this is the kind of thing that can happen. we need rules in place to ensure that everyone understands what the rules are. i personally don't think you should be able to hedge a position you don't have. i don't think -- if you want to place a bet,

. >> reporter: but new york attorney general eric schneiderman says sodexo's profit motives extended far beyond those employee bonuses, which are legal. he says sodexo crossed the line when it pocketed cash rebates actually meant for the schools. >> if, you know, you promise that you're giving-- passing a discount on to your ultimate customer and you don't pass that discount on, that's-- that's stealing money. >> reporter: in 2010, sodexo settledly the case by returning $20 million to new york public schools. sodexo admitted no wrongdoing. but the investigation has expanded. schneider man says his office has uncovered a nationwide pattern of public schools getting ripped off. he's fired off subpoenas to 10 more food industry companies. >> we know that there are cutbacks in programs for kids, in gym and art and teachers are teaching in larger classes. it's outrageous that there's more money that should be going, that is legally owed our schools that is not going there. >> rick hughes went to work for a school district that was once sodexo's customer, district 11 in colorado springs. h

reporter, katherine rampell and alexis goldstein with the s.e.c., and new york attorney general eric schneidermanthe president's financial fraud task force. you were on the program, attorney general schneiderman, were you on the program five months ago. and we asked you about what we can expect to see from the task force, i want to play this little bit of sound. >> in the next few weeks, i think you will see indications that this is an active investigation going forward. you will see more subpoenas, 11 were announced on friday, you will see action by other agencies, you will see cases being filed. >> is there a timeline to it? settle there's no timeline. but i assure you, if we don't have some concrete results within the next six, eight months, i'm going to be very disappointed. >> and at the time that it was announced, there were a lot of stories published, people at your office, off the record, saying look, if this isn't serious, we're not going to have anything to do with it after a certain amount of time. we're getting to the point where five months now. we haven't hit your six to eight-month

eric schneiderman is the attorney general of the state of new york. >> it is clear to us that, at this point in time, they have not met their burden of proof of showing that they deserve to be re-licensed. >> reporter: after three mile island, a federal court ruling forced utilities to expand their list of what-if scenarios and considerhe cost of protectingid against more unl.y byrc t n the. they are called "severe accident mitigation alternative analyses," or samas. >> all that requires the utility to do is to examine, do a cost- benefit analysis of safety measures that are not prohibitively expensive but could provide substantial additional safety for the plant. >> reporter: indian point's sama analysis revealed 20 cost- beneficial safety upgrades entergy could perform. they include adding a diesel generator to charge batteries, a flood alarm, better flood protection, additional devices to monitor for leaks, and a valve to reduce the risk of hydrogen explosions. in all, the upgrades carry a $77 million price tag. but surprisingly, implementation of sama upgrades like these was not a