which the members of this media consortium were counted up which have gotten $14 million from george soros everything that the obama administration and the irs and soros himself would want them to do which is to say that there's no -- the only scandal here, they're saying, is that the irs wasn't tough enough. >> the right wing has been -- >> tea party groups and so on. >> the right wing has been frothing at the mouth for a so-called scandal ever since obama's been in office, and now you want to tie george soros to it. "the washington post" called the targeting of conservative groups appalling. i agree with that. "the new york times" said there was a serious mistake made with focus on groups with tea party in their name. i think the times and post were exactly right to say this is appalling, and seriously wrong. jon: but then you've -- >> i i've read, and so does elijiah cummings, the leading democrat on the investigation committee. there's plenty of democrats and liberals who are horrified by what the irs does. people who are on the soros payroll, oddly enough, are kind of happy with it. j

we got word that george soros was buying, 8% of the company. this is well-secured loan. if jcpenney goes down the loan will be paid back in real estate. that could help goldman sachs. what will they do, what will jcpenney do with the cash, that is lot of cash, 1.7 billion? >> there is couple of major things they need to do which is he is relaunching thatirhome. that is enormous undertaking. in cap x, which will go to home. they will ice it for that. to be able to sustain the discounting programs that they're reentering and to support the cash flow from operations there. and also they're going to have to pay new cash debt service on new loans that they have. so i think this new financing gives them all the cash they need to get that done. david: dennis kneale, go ahead. you have comments on jcpenney. >> three quick points that is $1.75 billion in debt. their actual cash on hand, their money, 820 million. not a lot for a company that size. second, gross margins, plummeted to 30.8% in this current first quarter they just reported from 37.6% from a year ago. 40% a year ago q

not like george soros personally but sometimes he picks great stocks that is arctic cat. we want to go to acacia which is the other stock. they collect patents. that's what it does. it is one of the stocks really seems poised to take off right now. explain more about it. >> well that's exactly right, david. you did a got summary what the company does. they collect portfolios of intellectual property and it covers the gamut, everything from telecom to technology to health care and basically it is in a real niche in that market as a result. david: we're looking at the stock price over a three-month period. you look at that one piece where it went down, went down tremendously from 30 down to where it is now in the low 20s. what happened there? why is it going to recover? >> it already recovered. it continues to have some volatility to it because it is a relatively small name. in many cases not very well-understood. less than $2 billion in market cap, maybe a billion two. the fact of the matter they're expected to grow earnings in the 20 plus percent range going forward and t

george soros sold apple. david tepper cut his apple stake by 40%.ill like the iphonemaker, david einhorn raised his stake and dan loeb made a new holding in apple. here is a look at some of those stocks. i can tell you that i think it was british iron was up around 2% earlier on in frankfurt. >>> meanwhile, an unwinding position of gold etf has joust paced demand for the pressure metal. overall demand for gold was down 13% in the first quarter of 2013 compared to a year ago. so we've been asking viewers is gold oversold? let us know. get in touch, e-mail worldwide@cnbc.com. tweet @cnbcwex or direct to me. still to come, we've been talking about downtown abby. "the great gatsby" opened at the film festival last night. can revenue from placement become a major source of the area? ♪ bonjour ♪ je t'adore ♪ c'est aujourd'hui ♪ ♪ et toujours ♪ me amour ♪ how about me? [ male announcer ] here's to a life less routine. ♪ and it's un, deux, trois, quatre ♪ ♪ give me some more of that [ male announcer ] the more connected, athletic, seductive lexus rx. ♪ je t

george soros is buying about 8% of them. liz: and financing from goldman sachs, right.me changer as well. >> reporter: it certainly can. every piece of news that comes out, every headline for jcpenney is a game changer, so we've seen it improving and turning around since the changing of the guards in the ceo role. continues to be one of those very fragile stocks. that's a concept that people are beginning to like. we've seen improvement in jcpenney, but it's very fragile senate retail sector. liz: another eight and two-thirds jump here. >> reporter: no doubt. stellar performer. and it continues to be so. 171% this year. david: okay. all the good news about these stocks clearly had an effect on the overall market. look at this. the dow jones industrials, it is not trading as badly as it had been earlier today. 44 to the downside is not good news, but again, it has been worse today. the s&p, though, percentage wise is taking it on the chin today. it's down over half a percent down 8.4. nasdaq composite not getting too big a hit, it's down 6.3, that's about a .2% loss on t

first george soros announced a couple weeks ago that he would take a 7.9% stake.i fest it was for 1.5 billion. now we have this early guidance. what do you make of all this? >> i guess my takeaway i think kind of what the market is looking at too because it traded up slightly in the after-market, this falls within, not the official guidance but official guidance consensus was 13% negative comps. this is 16% negative comps. shows the company stopped bleeding, number of one. and number two they have $821 million in cash on balance sheet at end of the quarter three days ago so they're relatively liquid. this would help get the goldman sachs loan guaranty executed and sign and which gives them liquidity they need to in order to keep rebuilding. they have 500 plus stores, 20%. their square footage under rehab, being rebuilt in the last quarter. these negative comps are not true year-over-year. lori: the question is why surprise the street with unexpected earnings report? >> i think the reason why they're trying to keep ahead of curve here. lori: okay. >> at this point

there is something going on admittedly in new sources, a reporter from news busters counted up 23 george soros organizations who have been saying, irs is nothing burger, nothing to see here. this is not what they were saying about president bush or ronald regulate an. >> jon: average american gets upset when the irs seems to be taking a political stand, some on capitol hill say it's not about politics. >> it's not on arcane or knotted national security matters, it is ts there in front of it. we are engaged with the irs. that is why it's a different matter and why it's getting different traction. >> let me pick up on a group think in the media. kim in "wall street journal" pointed this out and excellent lay and terrific column on the op-ed page of "wall street journal." the people obama people have hired basically all think alike. so it's not necessary for the president to stand there and give orders, use the irs to investigate these people. cover up on benghazi. they all think that way, they don't need the marching orders. >> not only do they think alike but they think the same way with about

news busters, counted up 23 george soros funded media organization receiving a total of $10 million fromos who have all been saying the irs is a nothing story. nothing to see here. this is not what they were saying about george w. bush or richard nixon or ronald reagan. >> john: the average american, merrill, gets upset when they find out that the irs seems to be taking a political stand even if some on capitol hill say this is not about politics. >> that's why the story has public traction. it's not about national security matters that are hard to report on. it is there in front of us. we are all engaged in our work lives with the irs. it affects every american. that's why this is a different matter and why it's getting different traction. >> john: let me pick up on a quick point that rick made about group think and the media. there is group think in the administration. kim stossel in friday's "wall street journal" pointed this out in an excellent way in a terrific column on the op ed page of the "wall street journal" and she said that the people that the obama people hired basically al

. - topic #2: billionaire george soros is said to have made $60 million off the aussie dollar. what currency would you buy? - i am not looking to buy any currency right now. i think the best trade out there is the aussie dollar short. i think the aussie is the new yen. we saw the yen get hammered today. i think that trade is getting crowded. the economy in australia is faltering. 10% of their gdp is tied to mining. they have reduced consumer demand. they are going to have to continue to cut the rate from 3% to 2.75%. they are going to have to step it up and do more. the aussie is going lower. - seven cuts in 18 months. theirs is the only economy that didn't get impacted by the fiscal crisis, so they are in the driver's seat here, and if you look at the materials and mining sector, that has finally turned the corner, made a comeback. they are going to benefit from that. but i think a better benefactor would be canada. the canadian dollar has gone above $.995. near-term target, if they can get to $1.01, is back to $1.05. so i think oil, materials, o canada! - topic #3: short-sigh

there's a demand in india and china for jewelry, but people like george soros and the hedge funds are of it, but lightning up and-- >> on stocks i've got to get cued up to you. you're one of those guys who kept telling us every day that stocks want to go up. the pressure is for up. and i think it's still there. am i right, larry? >> yeah, actually you and i talked about the reason, the fed not getting out of the way. and the situation where the fed is not going to get out of the way, it's going to keep pushing the markets up, you and i talk about it all the time. >> but i still think that scandal equals gridlock and helps stocks, ten seconds, go. [bell ringing] >> i don't agree, i think that the markets are going higher and the feds will deal with it. stuart: you'll never be on the show. thank you, larry. the dow jones industrial average is off and running after another record, it's up at the opening and right at the opening. the futures indicate dead flat, but we've seen that before. 15,270 right now. mov move on to apple. hedge funds, some of them sell their shares, according to fil

organizations still pour a lot of money into politics it had not that much of an effect what about george soros and the uniqueness of them should we know about them rick i think they are and i think this goes back if you really want to. the influence of money in politics it's going to actually take constitutional amendment i agree move to amend or thirty started i would be very very upset if if they moved to overturn the principles of. versus alabama state of alabama went after the. donors demanded the list but the court said no this would have a chilling effect on the politics because there they would be subject to intimidation and i agree with that. ok thank you all for being with us. coming up natural gas is getting all the hype in the mainstream media but the real boom is in renewable energy after the break we'll talk to an environmental journalist jay warm key about the emerging clean energy market and what our government can do to make sure that it remains competitive. potentially deadly blizzard taking aim for the northeast it's expected to hit stunning in a few hours from new york to ma

. >>> and also go online to find out why billionaire investor george soros says italy is still in biguble. >>> still to come, it's been just over ten days since glenco completed its trade. we'll find out whether their combined synergy is paying off. the new blackberry z10 adapts to how you write and suggests words you can flick on to the screen. blackberry z10 with flick typing. built to keep you moving. see it in action at blackberry.com/z10. [growl] we used to live with a bear. we'd always have to go everywhere with it. get in the front. we drive. it was so embarrasing that we just wanted to say, well, go away. shoo bear. but we can't really tell bears what to do. moooooommmmmm!!! then one day, it was just gone. mom! [announcer] you are how you sleep. tempur-pedic. >> announcer: >> announcer: you're watching "worldwide exchange" bringing you business news from around the globe. >>> and these are the headlines from around the world. the creation of the e.u. banking union and divisions on how to get there. the finance minister says he's working on fixing relations. >> we have gone thr

it will be, what george soros does, managing the money of george soros.e it will be managing the money of steve cohen. it has 1,000 employees f this goes into effect you will see many of those employees leave. they would have to leave because it will be a much smaller operation. remember one of the things that keep those employees, all those analysts and traders there, these are high-priced individuals the fact that steve cohen charges some of the highest fees in the business. a 3% management fee when on wall street, in the hedge fund business it is normally 2% and he skims off the profits 50%. generally it is a 2 and 20%, it is a 20% skim. that means he is allowed to pay for a lot of the best in the business. obviously if you cease to be a regular hedge fund you can't charge those fees. ie, a lot of the people go. so this is what i understand is in the works. i can't tell you if it is going to happen. i can tell you that we spoke to a few portfolio managers, people that run fund to funds and the indication they're getting from inside cohen's operations t

communists is too old for things let me tell you don't get it really well oh but he said it and that george soros is trying to destroy the game of golf. conspiracy there let's compare that with this from the republican platform of one nine hundred fifty six this is literally word for word this is right out of the republican platform the federal minimum wage has been raised from of the two million workers social security has been extended to an additional ten million workers in the benefits for six million the protection of unemployment insurance has been brought to four million additional workers there have been increased workman's compensation benefits for longshoreman and arbor workers increased retirement benefits for railroad employees and wage increases and improved welfare and pension plans for federal employees time got a graph of the of the nine hundred fifty six young republicans and he has seen this not only is this on the screen oh yeah it's very near the back again greater job opportunity less time because of strikes increased union membership i mean this you know vote republican this

eric: for them to leak proprietary information by liberal group that is funded by the family and george soros. it's problematic. it may reach into the illegal category. it goes way beyond isolated. >> bob: i'm suggesting that the two irs detectors did not know this was going on. the one bush appointed and one obama appointed. >> dana: how irresponsible, the keeper to have somebody that the bush administration appointed. so that is why it's preposterous it happened on their watch and they are trying to sweep it under the rug. >> bob: that director said it did not happen. i believe him when he said he didn't know it happened. >> dana: but that -- okay there are two players common to all three scandals you talk about. obama himself or the white house and the press. the press ignores claims from the tea party for three years that they were being targeted by the irs. the press gave obama a pass on benghazi for seven months, yeah, they get four pinocchios but seven months after the facts haven't changes. press is connected because they are outraged because they were targeted. that is only reason th

. >>> also on cnbc.com, is george soros shorting the aussie dollar? check out the website fob more. >>> meanwhile, it's time to bring you up to speed with what's happening in global equity markets. let's kick off in asia with li sib wish. doing very well, indeed. hi, sixuan. >> indeed. the markets got a chance to react to last week's updeet jobs rally. the nikkei 225 broke above the 14,000 level for the first time in nearly five years. while the weak yen fueled a rally in exporter stocks. as for the market gainers, heavyweight fast retailing rally today. sony was the most traded stock on the board. and automakers on the bottom here jumped at between 4% to over 7%. lots of focus is on australia, lower by about 0.2% after record breaking cuts. we saw a picture between modties and banks. exports in china jumped to a record high the. a weaker aussie/dollar set to make exports cheaper and improved by their earnings. export banks were under a bit of pressure today. this despite the national australia bank passing on the first bank to pass through mortgage c

and george soros? >> it seems there is a lot of liquidation right now if you look at the u.s.thening significantly also the s&p 500. >> strings for the economy? >> to a certain degree we do have some economic data showing deflationary pressure and people are questioning how long quantitative easing will last. >> moving to oil that says positive we got a big jump today the third day in a row. that is about to me and? >> certain aspects are labor-intensive that we see demand pick up quite a bit also geopolitical risk risk, syria coming back into the pitcher of bombing between a pipeline that, 300,000 barrels between iraq and turkey so crude oil prices are rallying on that news. >> i am not totally wrong. i always appreciate his guidance as we sit on the edge of the eurodollar options here in chicago. tracy: you are not full of crap. we love you. ashley: the new "star trek" movie does not officially open until tonight but a few critics already have their favorites to seeing an denis neil has more. >> into the darkness is the sequel to the remake viacom paramount bought out from 2

>> george soros got in. >> in a way. >> what do you mean in a way?longer-term type fashion. but when you look at the equity, i don't see what the upside is right now. when you're unhappy, you tell ten people. when you're really unhappy, you tell one. that's the issue that they face and retrieving customers is not an easy prospect. when you go out there and lose them, getting them back is much more difficult. >> they are going to find out how difficult it might be. there's no doubt about that. let's go over to the nymex now. sharon epperson is there. >> the silver lining is that gasoline futures are down. a lot of this happened, of course, overnight we saw the china information come out and what it looks like in china, that is something that is definitely putting a lot of commodities under pressure. in terms of oil prices, add that to the fact of oil supplies here in the country, it's unexpected, particularly the gains of supplies in the last week nearly five times what analysts expected, it's pressuring oil prices and putting that wti price below the

george soros all go through this treatment. >> i can't believe you happy you are. really got the president he on a scandal. this is not a scandal. this is the first time i have seen an administration admit they were aid 80s. a lot of -- idiots. a lot of mismanagement. shouldn't have happened but it did. the sadded story about one of the constituents, this happened to me back in the '70s when the right wing took on me and the irs so there. >> we had a series of laws passed to prevent exactly this from happening. the use of the most feared agency in the u.s. government and feared with good reason because the power to tax is the power to destroy. you are telling me, bob, if it situation were reversed and you had black groups and hispanic groups and women's groups and gay groups targeted by the irs, singled out and harassed in this kind of systematic fashion you would have no problem with it? >> i would be screaming my head off. obama has been beat every step of the way. andy hasn't -- look at hannity. he hasn't been happier than the entire week than he is now. >> sean

george soros, the liberal, spends $100 million per year.ted one paid -- one paragraph in the new yorker, but the koch brothers spending far less warranted 10,000 words. >> i'm not one to talk. i have to say that up front. listen, again, if it was george sorus stepping up, i would be lying to you if i did not say would be a little more comfortable giving my own grounding, but you would have an absolutely legitimate argument. when you have somebody who gives that much money to the political system, political candidates, you do have to question the independent journalism. dennis: journalism has never been independent anyway. everything has a point of view, and that is fine as long as you reveal a point of view. thank you for being with us. up next, sony, verizon, microsoft. it the opportunity of a lifetime. split themselves up. why investors cannot afford to wait. plus, smelling blood in the water. the new ad campaign directly targets teens. that is what they always say. it will open up another legal field day against tobacco. piles of "money"

a george soros funned group that exclusively promotes progressive causes. so give me a break with this. the whole system is a ruiz. there are conservative 501 c 3s gaming the system as well. enter a group called "true to vote" monday the election process. the group's captain breck was unfairly by not only the irs but the fbi after she filed for 5001 c 3 status. she is now suing. she joining us from milwaukee along with her attorney who is in raleigh, north carolina. more interested in the fbi presence here ms. albrecht, tell us about that. >> sure. the fbi on several occasions contacted us wanting to know specifically about people who were attending our programs. and we told them what we could. and then it became a series of follow-ups that frankly you might not have thought too much about until you start lining that up with the other irs audit and atf and osha all the other things time line that don't add up. >> bill: let me get specific. the fbi's interest in your group happened after you filed 501 c 3? >> yes, yes. >> bill: so have you meetings -- >> --

we can pick up karl rove or george soros, whichever side of the aisle you want to skewer. the average member in order to counter that these $3 million, which is $10,000 a day. they take their staffer, go across the street of federal time and get on telephone to the dccc or the under cc and they do that. that doesn't mean we've got that members. i promise you many members of congress would like this to change, too. many members do not find it delightful to raise this money. .. intervention and the public needed intervention. beautiful place can make it even better. so i address a lot of issues in the book and i hope it's not just look that at one issue or attacking one person. i'm not a better person. i spend time with my granddaughter. i get to go to india, as i told you. i get to do radio. a lot of great people like tom harkin and people to the right or left or the middle they get their voice out there and they tell people a story of what's going on in their government. the journalistic side of this is critical. so i'm happy. i'm not a person that is unhappy and angry and

we can pick up karl rove or george soros, whichever side of the aisle you want to skewer.the average member in order to counter that these $3 million, which is $10,000 a day. they take their staffer, go across the street of federal time and get on telephone to the dccc or the under cc and they do that. that doesn't mean we've got that members. i promise you many members of congress would like this to change, too. many members do not find it delightful to raise this money. ..

. >> if you want to know what companies warren buffett and george soros are investing in, today is theg investors to disclose their holdings to insurance regulators. we'll run through who's buying and selling and what next. >>> also ahead, it's exactly what the nation doesn't need right now. more gridlock in washington. we're going to keep you up to speed on new developments from scandal town next. and just how bad is it right now between the two political parties? watch this. >> characterize something as something -- >> mr. chairman, would you inform the witness as to the rules of the committee? >> -- and is too consistent with the way with which you conduct yourself as a member of congress. it's unacceptable and it's shameful. >> more on the that testy exchange later on "closing bell." >> don't go anywhere. [ babies c] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not roc

reform bill you have a situation today where the super pac comes along we can pick on karl rove for george soros for but they go after people that means $3 million to counter so they take this effort and they get on the telephone and they do that. they are victims of the system many members would like this to change many do not find it delightful some like it but a lot of them don't. there is a lot of good members. but that comes to the conclusion of jack abrams of going away, people with felonies that did not change anything. it may make them feel more comfortable but it did not change things. so i put that conclusion there and i ended with a'' federally like to paraphrase says i had an addiction and today there is another edition of campaign contribution they need an intervention matt to make it a beautiful place and make it better so i address a lot of issues in the book and i hope it is not just one issue or attacking one person i am not bitter i spend time with my granddaughter today i get to go to india and i can do radio with a lot of great people like tom harkin to the right or the left

to get all george soros on you, you can get a reflexive moment going on where this whole process startsspiral going. >> you're into the very big words tonight. >> yeah. i used a dictionary -- is it a dictionary or is it a thesaurus? >> thesaurus. >> 165 dollar-yen is a key level you'd watch. if you break through there i think you're getting that reflexive moment. also watch the aussie dollar which continues to crater. >> blackrock ceo larry fink making headlines today. in an interview on "squawk box" take a listen to what he he had to say about the short-term mentality of investors and specifically options traders. >> most players in the markets make money on the velocity of money. and so they're trying to talk about quick trades sxopand opti trading and all these other things, which studies show it has negative outcomes for most people and yet we perpetuate things like that. >> let's get a reaction from our very own options trader, jon najarian. i did put a request in to blackrock to get some more information on what exactly larry meant by all of these studies, what studies he specific

should you follow his lead or better off following that after george soros who just sold a big part of his stake. we'll explore that next on "closing bell." ♪ [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future. ♪ do you want the long or the short answer? long i guess. chevy is having a great-deal- on-the-2013-silverado- but-you-better-hurry- because-we-don't-want-to-see- a-grown-man-cry-spectacular! what's the short answer? nice. [ male announcer ] the chevy memorial day sale. during the chevy memorial day sale, current chevy owners trade up to this 2013 chevy silverado all-star edition with a total value of $9,250. plus get america's best pickup coverage including 2 years of scheduled maintenance. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured.

the john paulson, the george soros. they were buying basically gold miners. they are doing really good. lori: a double bottom. is that what we have seen in gold lately? >> everybody was bearish. you could not find one bullish story out there. certainly enough, that was the date they put in the low. lori: -- >> a lot of traders are looking back at the gulf of mexico. i hate to bring this up. another storm system that could turn into something. traders are watching it. lori: phil flynn of price futures group. thank you. melissa: although the oil cartel is expected to keep output steady, things within opec are anything but the status quo. matt smith is with us now. thank you so much for joining us. there are two big issues that they are grappling with. who will lead them and the other is fracking. you think they will talk about that? what can they really do about all the fracking that is going on here? >> that will definitely be the main issue, melissa. we are now at the highest level of domestic level in the u.s. since 1992. we are seeing production goes nuts.

jack lew, omment is george soros, bloomberg all have incomes, a charitable foundations. they escape hundreds of billions in taxes. nobody talks about that. treasurer secretary, tim rattner also did not file for some of his workers -- tim geithner also did not file for some of his workers. fort: one of the options fixing our system is to strengthen the worldwide regime, cutting down on referrals. he cannot defer your foreign profits indefinitely. the foreign tax credit keeps businesses from paying double tax on net income. theuse of the higher rate, always 0 a residual here in the u.s. if to cut back on the foreign tax credit and strengthen the system, you would have businesses that necessarily moving out of the u.s. -- there are very strong anti-inversion rules. boeing cannot all the sudden say we are going to be a cayman islands company overnight. but they can put themselves up for sale. anheuser-busch put itself up for sale, and it was bought by inbev. that is what you would see if we went that way, strengthening about what system. you would see a lot of famous america

you have a situation today where the super pac comes along, we can pick on carl row four pic on george soroswhichever side of the aisle you want to skewer. the average member in order to counter that needs $3 million which is $10,000 a day they have to raise. they take their staffer and they go across the street on federal time and they get on the telephone. .. i had an addiction, and today there is another addiction as to the campaign contributions and they need an intervention and it is the public intervention. a beautiful place they can make it even better so i address a lot of issues in the

. >> and pro-publica is financed by george soros, to believe what they've said so far, that it was nottisan, it was honest mistakes and all of these mistakes were inadvertent, that strains credulity. >> and let's go back, dave camp still speaking, chairman of house ways and means committee. >> and they may have received that from someone i don't believe the commission are level-- >> you can't tell us for sure? >> at this time i cannot, sir. >> were you ever made aware of the alleged publication of a confidential 2008 donor list of the national organization for marriage? >> i both read in the newspapers, allegations to that effect, but i have to make it clear, mr. chairman, that the internal revenue code has very strict rules as relates to the way that confidential taxpayer information is revealed and we at tigta enforce those rules and i have to be careful as to how i respond and whether i can acknowledge publicly some of these revelations that you're inquiring about. >> did you respond to that information? >> a review has been -- has been taken. >> is it ongoing? >> i will have to con

these groups to great effect, and i'm talking about groups that fall in this category, some of the george sorosor america, the left has used this to great effect for decades. after 2008, 2010 when the right started to catch on and said, hey, look, we can use this too, and they actually started to have some real effectiveness, now the left is screaming bloody murder about these groups? so it was only good when you guys could do it -- jon: all right. >> you and i are on the same page. >> come on. >> i agree with monica on this, jon. i agree this shouldn't be good for either side to use this loophole. >> so now it's taken away now that conservatives have had a real effect. okay, i've got ya. jon: we'll have to get you guys back another day. thank you both. >> you bed. >> thanks. jenna: well, a small plane crash ing into an apartment building. take a look at that. what investigators say caused this. >>> and taking writing a little too far about his teacher, comparing her to ginger on "gilligan's island". he's suing now bigtime for millions of dollars. he says this is political correctness run amok.

when you have a lot of money like george soros you can do what you want. >> i'm wondering what role large corporations play in this debate? do you find them to be helping you or they just kind of pandering? >> two is a great question. when i started out, large corporations would be interested in supporting people like me. they were interested in science, sound science, sound economics. but that is no longer the case. they have been hijacked by greens. you have the chairman goldman sachs. it makes a difference. even companies don't sign on really the green agenda like the oil companies. they have frankly have been intimidated from taking too high profile on these issues. it's unfortunate because they're in the right. it's easy to demonstrate. corporate america, they're either squeamish or taking over. this is why i started this mutual fund in the mid-2000's to push back on this. you really find out there's just a lot of -- if they're not empty suits on the environmental issues, they are like green plants. it's a real problem for america. >> could you just give us a very simple distinction

but if you have a lot of money, like george soros, you can do it every one. -- whatever you want. >> am wondering what role large corporations play in this debate? do you find them to be helping you or are they pandering? >> that is also a great question. when i started out, large corporations would be interested in supporting people like me. they were interested in science, sound science and sound economics. but that is no longer the case. they have been hijacked by greens. yeah of chairman of the nature conservancy, chairman of goldman sachs. even companies which don't sign on really to the green agenda like the oil companies have frankly been intimidated from taking too high a profile on these issues. it is really unfortunate because there in the right and green is the wrong. it is easy to demonstrate, but corporate america are either squeamish or have been taken over. the this is why i started this mutual fund in the mid 2000's was to push back on ness. meeting, a lot of ceos, you find out if they are not empty suits on environmental issues, then they are light green plants. it i