but gary gensler went off the tracks.e really works for elizabeth warren who push as lot of this stuff. remember whose book he is virtue signaling, it is elizabeth warren and far left of party. liz: larry was here yesterday. wish we knew it yesterday. >> i'm sorry, it is my reporting. blackrock has no comment. by the way, is there tension in here of some type? liz: heavy and thick as ever. >> thick, like, like, i mean i never, i never knew -- liz: oh, my god. >> i never knew talking about crypto and larry fink would just lead to like wicked testosterone spikes in me. liz: you and neil cavuto. thank you, charlie, very much. >> all right. liz: we told you about nvidia getting slammed after president biden cut off china from more u.s. made chips. nvidia down 4 1/2%. separately tesla reporting tomorrow. part of what the street calls the magnificent seven. i call them the miraculous seven, "magnificent seven" that dominated the s&p 500. our "countdown" closer has an etf rivals the mag sieve meant seven without exposure to indi

and that's really what both gary gensler and secretary yellen want.20 the came out with that announcement, and then we had the march blow help with three banks fail, so the industry couldn't push back. liz: and as we look at the price to earnings ratio of some of the bank, you've got goldman at about 4, jpmorgan's around 7 or 8, then you've got morgan stanley which you feel at 13 is too high at the moment. >> it's too high because their business is going to change. it's a great firm. it's a three-legged stool compared to a two-legged stool at goldman. [laughter] liz: is there such a thing as a two-legged stool? >> no, it's not stable because they don't have that that regular asset management if business. they don't have the same quality of deposits that morgan stanley has. that's what's wrong with goldman. but i think people realize -- don't understand that that a lot of structural change coming from washington in a lot of areas. pay for deal flow, that's going to go away. liz: and that is going to affect their bottom line. >> yes. it's going to affec

meanwhile, wall street multi-millionaire turned sec chairman gary gensler held multiple meetings with while this fraud was happening. now, gensler refuses to answer to congress. rep mchenry: you refuse to be transparent with congress regarding your interactions with ftx and sam bankman-fried. narrator: why won't gensler answer congress' questions? what is he hiding? (inspirational music) - [speaker] at first, just leaving the house was hard. - [speaker] but wounded warrior project helps you realize it's possible to get out there - [speaker] to feel sense of camaraderie again. - [speaker] to find the tools to live life better. - [narrator] through generous community support, we've connected warriors and their families with no cost physical and mental health services, legislative advocacy, career assistance, and life skill training for 20 years, and we are just getting started. >>> cbs news producer marwan lives in gaza and joins us by phone. marwan, i know it's difficult to communicate with the outside world right now. what can you tell us about what has changed since israel expanded i

kailey leinz is standing by with sec chair gary gensler. over to you. thank you for joining me and a happy birth day. the rule proposed today deals with volume-based discounts, you said this will help in -- with more competition in this market. the ideal of the timeline and sequencing with the other market proposals the sec has already made. how do you see the timing working out. chr. gensler: in terms of these -- this proposal today this is trying to level some of the playing field between the amongst brokers because stock exchanges today are offering different fee packages through these rebates so the midsized brokers in essence pay higher net fees so that's what this proposal is. we made some proposals last december addressing for specific areas and we've gotten good public feedback on that and the staff is working on possible recommendations to consider on each of those prior proposals. again kailey: coming to the timeline and sequencing question -- kailey: again coming to the timeline and sequencing question, how close is that to being done? chr. g

the compliance examination department of the sec is not a priority for them and this is bigger, gary genslersure rules on every public company, had to explain their carbon footprint down to what suppliers are doing, they would have to explain, disclose to investors the carbon footprint of their suppliers. this is such an insane proposal because how do you know what suppliers are doing, it impacts the environment, how do you measure it, he wants people to map this out for years and years in the future, very sort of pie in the sky and costly. here's what we know about that. to scale it back, it's too onerous. it's more moderate than you think. what we do know is under this backlash, thousands of letters to the sec, does the average investor want to know about this. in any event, this is what is described, it is nowhere. is he ditching it. we don't know. probably not. scaling it back to a point where it may not matter that much. that is where it is. they extend the common period, they have to rethink the whole thing. biden loses to trump, he has a year left, this thing doesn't see the light of

we bring in kailey leinz gary gensler earlier. let's stick to the boat.dan is once again not speaker of the house. kailey: the second round is not the charm. he lost more votes. he slipped two members for him but for more turned against 10. 22 members of the republican, conference to not vote for him. we are expecting members of the republican conference to get into a meeting now, and another airing of grievances a high enclosed doors that we have seen play out several times. we will see if a third boat is called today. it jordyn spokesperson says he does not intend to drop out. but seeing that he lost support yesterday, things are getting worse for him, not better. the house is still left stagnant. matt: is there any average -- is there any chance for something else? maybe patrick mchenry who is speaker pro tem? kailey: there has been a growing conversation about expanding the pro tem powers of the interim speaker. that is something that would require democratic support. publications are reluctant because they might have to make concessions to democrats

gary gensler at the sec had been regulating the industry not through congress or legislation.ough pressure on him that the american people should have access to this investment product, would benefit greatly having had ease of access going back 10 years ago. seems like finally the sec is in check and we might be seeing a bitcoin etf. we are seeing the same happened when the first goal etf came to market and the cme, the highest institutional futures trade the market has ever seen so we will see what happens here. adam: bitcoin is more of a beneficiary of that rogue investment strategy. gold or silver or other commodities and i'm wondering why. the etf taken out of the equation, what could drive it, stocks all over the map, bonds all over the map, a short point where people are running but no more. what do you think is driving this? brock:this is an alternative asset class, a hedge against financial uncertainty in the world and unlike gold, there's a lot of similar attributes. you can send this anywhere in the world near instantaneously for low fees and it can't be counterfeite

gary gensler democrat appointed s.e.c.o has been doing a cram-down on bitcoin because he couldn't control it, it looks like he's going to finally relent and the s.e.c. is going to allow potentially allow bitcoin to be used as an a etf. so all of a sudden now you bring in a whole new group of buyers. if there's an etf, you don't have to buy bitcoin, you can buy the etf and it won't be just bitcoin but it will be all the different cryptos and the key is the s.e.c. is going to say well, maybe crypto is actually a currency. it's not a security. so it's okay to put it into an etf and allow retail investors to buy it. that's what's pushing it. maria: the cryptos are way a down from their highs. do i really want to buy an etf, holding crypto? >> yes. i'll tell you why. it gets to portfolio management. just because you like something doesn't mean you have to love it. in other words, you don't have to put all your money in. it might be for something like a bitcoin etf, you put 1% of your capital. right. if you've got 100 you thousa

if you look at everything from gary gensler at the sec to lina khan at the ftc, i mean, these are someople controlling the economic agenda in this country. and, or you know, a war is not going to, you know, is not going to -- rachel: stop them. [laughter] >> they're going to be left, you know, that's what we're facing now. now, we should point out even if there wasn't a far-left agenda in the white house economically, crude oil prices, the futures would rise, and they would rise because they always trade off or trade up on uncertainty, global uncertain the city involving the oil markets, particularly as it impacts the middle east. but this is worse because this is not just a freakout of a bunch of traders. i mean, we do have policy in this country that says don't drill for oil. we have stuff like esg that is pushed on to oil companies, exxonmobil and them and all of them, essentially to scale back on drilling to, you know, put money into sustainable energy sources when, you know, that's a future thing. it's not present. so put all that together, and you're going to get inflation here w

. >> gary gensler has been a vociferous opponent of bitcoin etfs, less to a week to appeal this warnings got to appeal that or not this week. what's he going to do? any sign his opposition to crypto is crumbling? will we get a spot etf? >> we will, only question is when. some are optimistic it will happen this month or next. others believe early q1 of next year. some say not until gensler is out of office. he still doesn't like crypto and the only one who seems to fail to understand that addition of a bitcoin etf improves consumer safety. everyone gets it except him. >> that is the key argument. rick will have a lot more at 1:10 eastern time joined by holly, the capital group director of etfs one runs of the largest groups of active etfs, attracted outsized shares of inflows and holly will explain. cnbc.com. >> appreciate that very much. >>> your dividend playbook, morgan stanley's mike wilson, he's making the bull case for dividend growth stocks today. we'll debate the names he likes and, ocosethe mef ur, nas that jenny likes. we'll do it next. this thing, it's making me get an ice bat

besides the fact it is an insane fraud, it occurred over, probably was a fraud for many years that gary gensleridn't pick up and his investigators didn't pick up. liz: neither did sequoia, smartest vcs in the business. >> sequoia are not the sec. some people are attached to ftx and sam bankman-fried and innocently attached and have their reputations being marred to a certain extent. if you talk to anthony, i'm embarrassed. he was sort of, basically introducing sbf to some of the top people on wall street. liz: at least. >> at least you know, all sorts of people. he was speaking at hills conference, the whole thing. i bet you o'leary, kevin o'leary would say the same thing. $15 million he was paid by ftx and sam bankman-fried. i'm sure you can't say he knew what was going on. tom brady a lost money involved with this. a lot of corporate reputations are -- unfortunately anthony's is he will not be a witness. liz: who will? >> that is a great question. they don't need many more beyond the obvious, carolyn ellison. family members will be defense witnesses. i don't think the family members will be w

it's trading thousand at a 3 to 4-month high, and it look like the sec, gary gensler, one of the dncs-- dnc's own, has finally decide to consider and and allow an etf to be created. you can just buy the bitcoin etf, so that will create significant demand. coinbase is effectively a proxy for the success and ability of crypto to continue. stuart: all right. you like it. >> i do. stuart: coinbase. what is gxo logistics? >> oh, wonderful company. the largest contract logistics provider in the world. we were just talking about amazon which doesal its stuff westernly, but let's say you are nike and you need to have your inventories managed. gxo will do that. they have all these different warehouseses. there's the the nike warehouse, ikea warehouse, it actually comes out of a gxo warehouse, and it's all autohated with -- automated with robots. stuart: all right, we'll take it. coming up, don't forget to send in your friday feedback to varneyviewersfox.com. >>> the white house will ask congress for $56 billion in aid for disaster relief, childcare, high-speed internet, ask and that's on top o

where are the notes of gary gensler who meant with this guy twice? charles, testimony in this case was that sam bankman-fried if gave $10 million to the administration -- charles: yeah. >> -- for the purpose of access. and he had -- charles: all right. john, we've got, we gotta leave it there, my man. i love your passion. go get 'em. and now, liz claman. liz: thank you. let's keep the passion hot here because we've got a rough and tunnel thing bl day on wall street that looks actually like it's easing up just a bit as we kick off the final hour of trade. look at the dow jones industrials, down 40 points. low of the session, down 291. so a big comeback here. the s&p 500 down 19 points, but we've got breaking news on the nasdaq. right now it is still falling deeper into the correction hole, right now down 122 points. of course, it tumbled into correction yesterday. right now the tech-heavy index though is well off the lows of the session. you can see low of the session a loss of 277, so we've chopped that in half. yesterday though the composite suffere

where are the notes of gary gensler who meant with this guy twice?t sam bankman-fried if gave $10 million to the administration -- charles: yeah. >> -- for the purpose of access. and he had -- charles: all right. john, we've got, we gotta leave it there, my man. i love your passion. go get 'em. and now, liz claman. liz: thank you. let's keep the passion hot here because we've got a rough and tunnel thing bl day on wall street that looks actually like it's easing up just

meanwhile, wall street multi-millionaire turned sec chairman gary gensler held multiple meetings withpening. now, gensler refuses to answer to congress. rep mchenry: you refuse to be transparent with congress regarding your interactions with ftx and sam bankman-fried. narrator: why won't gensler answer congress' questions? what is he hiding? ♪ on your period, sudden gushes happen. say goodbye gush fears! thanks to always ultra thins... with rapiddry technology... that absorbs two times faster. hellooo clean and comfortable. always. fear no gush. ♪fun music♪ mom, can i help? camping was fun, but it looks we brought the woods back with us. if you have kids, then you really need weathertech. it's the ultimate way to kid proof your vehicle. from laser-measured floorliners for the front and rear... to cargoliner... seat protector... and seat back protectors... we've got you covered. your turn. [laughter] find these american made products at weathertech.com. >> martha: as we leave you this morning, we want to note the passing of a remarkable and impossibly modest man. 92-year-old burty bowm

meanwhile, wall street multi-millionaire turned sec chairman gary gensler held multiple meetings with this fraud was happening. now, gensler refuses to answer to congress. rep mchenry: you refuse to be transparent with congress regarding your interactions with ftx and sam bankman-fried. narrator: why won't gensler answer congress' questions? what is he hiding? mlb chooses t-mobile for business for 5g solutions... ...to not only enhance the fan experience, but to advance how the game is played. now's the time to see what america's largest 5g network can do for your business. (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. >>> welcome back the panel is here. nbc news senior white house correspondent kelly o'donnell, tulu olorunnipa, white house bureau chief of "the washington post," stephen hayes, editor of "the dispatch" and jen psaki, host of "

who gary gensler and lien gnaw kahn like or don't like.ament before the end of the year. slowly but surely we're starting to see some regulation. the government moved way too slowly, listened to the wrong people and now we're having to play catch-up. charles: of course we have today with president biden coming out with an a.i. executive order. this seems like such a large issue, that i'm not sure why the white house is trying to do this executive order. i think congress should play a bigger role. again this is something i'm not even sure, most folks in d.c. even understand. what is the your thoughts on the new eo, executive order from the white house? >> it is an a.i. executive order but it is a cya executive order i think too. they slept on crypto. they dent make rules fast enough and a lot of people lost a lot of money because of it and so now with a.i. they're trying to get in front of it and to your point these are incredibly complicated technologies that people go to school for years and even decades to deeply understand and so you kn

what could spark sustained interest is whether we have approval from gary gensler. -- space -- a spot clean bit filing. that sec has held that for making decisions and have continued to delay ready for them. we were hoping or expecting something in the fourth quarter but given the action last week from the sec making another delay once again on the filing it tells us perhaps we will not see that the next three months. yvonne: what about the legal action with spf trial? annabelle: this is one to watch even on a human interest level. everyone will be engaged in this. rishaad: his business associates turned on him. annabelle: absolutely. sam bankman-freid has been behind bars throughout the course of this to him to see his legal team making a push him to take part in the crowd from home. that has -- and the trial from home. he is facing seven counts in front of court. on tuesday the trail kicks off and we will see jury selectio then opening remarks. this is expected to last six weeks. rishaad: the rest taking place as well with another one. annabelle: three arrows capi

joe, the reason behind this is because gary gensler etf comments. >> i saw any government shutdown would delay any consideration for the spot etfs that everyone wants. >> because the s.e.c. staff would have been out and nothing gets approved. >> does that mean -- >> i think they are thinking about it. they have been thinking about it -- check your watch. >> that's a big move. andrew has asked why is it at 26. it could be 30. >>> talking about the government shutdown. it was averted over the weekend. the bill provides temporary relief. emily wilkins has been working the phones all weekend. what's going on? >> reporter: andrew, congress was able to keep the government funded over the weekend after kevin mccarthy did a 180 agreeing to work with democrats to pass a stop gap measure in te 11th hour. this continues the funding at current levels until november 17th and has $16 billion in disaster relief funding. it doesn't include ukraine or funding for the southern border. chuck schumer took to the senate floor and vowed that he would be trying to move forward on funding for ukraine. >> this i