we're waiting for the house financial services committee hearing.e are waiting for a potential press conference out of new york as well. the dollar was already under a little bit of pressure as a result of the cpi data. let's kick it around a little more and figure out what's happening here. our economics and policy correspondent to discuss. mike, this was a softer than expected number. this is still a relatively high number, but it does give the fed a little bit of breathing room. does it give them enough room to think about 50/25 rather than 50 flight -- 50/75? michael: not for tomorrow. it is locked in. the question for wall street tomorrow is going to be, what did they say about what happens in 2023? we are starting to see a move lower in inflation, much faster than had been anticipated by most people. not by everybody who uses bloomberg, but i will get to that in just a second. goods prices continuing to slow. disinflation there. services prices up a little bit, but a lot of that is still housing. housing was up 7/10 for owners equivalent rent.

this is the first when the house financial services committee on tuesday and senate banking committeeesday and whether they -- whether he agrees to them as well maybe some of that has to do with how well he does tuesday. again, more -- we'll hear more words from sam bankman-fried. i think we'll hear the same sort of sergeant schultz defense i have no idea how ftx imploded and customer funds, this is billions, not a small thing. maybe $8 billion was taken from customer accounts and allegedly and pom potentially misapproprid to a side hustle or hedge fund that gambled it away -- allegedly gambled it away in cryptos. a big, big problem for the financial system and the markets and it's the result -- multiple criminal and civil investigations are going on including what congress is doing. this is a big story, maybe even one of the biggest scandals we've seen since madoff in 2008. we'll get a little more answer this is week but he's played sergeant schultz and done it effectively with journalists and see if he does with politicians, neil. back to you. >> neil: very few people got that analo

let me take you back to capitol hill, the house financial services committee holding the hearing on ftx and the ceo is being questioned over the last hour. mr. ray: without speculating that what regulatory fix there could be, i said earlier that the critical thing is segregating customer funds and transparency. >> lastly, in your five points that you outlined and i'm sorry if you said it before, is there a timetable that you think you can get to that? that can be a yes or no. mr. ray: there is no particular timeframe but it's as quickly as possible. in my experience with enron -- >> is that months or weeks? mr. ray: it is definitely months. it could take longer but we will marshal assets on a weekly basis and a monthly basis and we will do that as quickly as possible. >> thank you so much for taking the time to try to help us out. i yield back. >> the gentleman from kentucky is now recognized for five minutes. >> thank you madam chair. in your declaration come you said that many of the companies in the ftx group did not have appropriate corporate governance and the situation is unpreced

jim hines, a democrat from connecticut who sits on the house financial services committee.anks for your time welcome. >> thanks for having me, kelly. >> biggest take-away so far from everything you've heard. >> well, you know, the biggest take-away for me at least, and there's cameras everywhere and this was going to be a blockbuster event and sam bankman-fried was going to show up sadly, he was otherwise disposed of it sort of has a hollywood feel. the biggest take-away is if you read the southern district of new york indictment, what went wrong here is old-school, right? there was commingling of customer funds with the hedge fund there was, according to the southern district of new york, wire fraud there was misleading of investors. there were all kinds of things that we've seen for generations. now, there is an angle on this which is new, right, and you were just talking about it, are they going to recover the money. one of the angles that is new is the existence of this token ftt inside of ftx. so this was used as collateral they made it up. i think that's where this is

he put together about 18 pages of testimony that he was going to submit before the house financial services committee. and he most recently recently switch legal counsel again because i think he understood the jeopardy the legal directory that he was in. but at the same time, he's always been a master at using the press to kind of build his image. and i think he felt that for as long as he was free, he was going to try to do that as much as possible. you know, based on what you heard the interviews that you conducted. do you think that may be the authorities made a mistake in arresting him when they did today? maybe they should have led him testify 1st. that isn't another interesting question, because i know that maxine waters that the chair of the house financial services committee said yesterday, she was disappointed that they're not going to be able to hear back from the fridge testimony in front of it in front of the committee today. and it's just the current c, e o john ray there. so i mean, i think that there is some benefit to hearing him testify, but at the same time he is, he has been very p

c-span as a public service along with these other television providers giving you a front row seat to democracy. >> here is a look at what is ahead the financial house services committee hearing about the financial collapse exchange currency -- with crypto exchange currency with ftx. and president biden on inflation and marriage equality. and representative andy biggs.

bankman-fried arrested in the bahamas, hours before scheduled to testify before the house financial services committeethe former ceo of ftx likely to request extradition back to the baja m mass. today, -- bahamas. today, inflation data and final federal reserve meeting of the year. dow industrials right now up 140, s&p 500 up 17, nasdaq higher by 60 on top of the big rally yesterday as well. we are looking ahead to the november consumer price index this morning, out in about two and-a-half hours. ebbing on mists are expecting a gain of three tenths of a percent month over month and 7.3% year over year. we have all hands on deck to break down the numbers. don't miss it. we have analysis coming up. the federal reserve beginning the two day meeting, the final meeting of the year, we're expecting another rate hike. the final hike of the year expected to behalf a percentage point. the fed is expected to raise rates a few more times in 2023 and we will hear from the european central bank and bank of england on thursday of this week. all of this after stocks finished up yesterday, big rally at the close. ene

we will also have the house financial services committee hearing.hey're going ahead with that even without bankman-fried testifying. we have a number of big developments coming up today but we also will have to see exactly what happens in terms of the extradition. it looks like that is pending and it could take weeks or months depending on what the bahamas and the u.s. agree. we do know there will be some big developments in the hours ahead. tom: could you also help us understand this disagreement between regulators or investigators in the bahamas versus those in the u.s.? what is the source of that tension? joanna: there are some issues. the u.s. is looking into money flows to the bahamas during the time of the collapse and what exactly happened, what was going on in the bahamas. the u.s. is also -- ftx's u.s. lawyers are saying there might have been some collaboration between bankman-fried and the bahamas at that time, so that will be interesting as to how exactly the bahamas and the u.s. interact on this and whether they are cooperating or whethe

house financial services committee. let's bring in allison from washington who has been across a story and sonali basak will be heading out to washington for the hearing next week. allison, what do you make of the transparency we are getting through him on twitter, how we see the actual center -- senators speak to sam bankman-fried himself. >> everyone is using twitter. maxine waters from the house financial services committee is increasingly using that to put pressure on sam to testify. we also have seen senator toomey, came out of his own tweet today. sam come if you do show up at the house committee hearing you better show up at our hearing the next day. everyone is using social media. caroline: it is kind of painful. cz said it himself, i cannot watch movies, i am a drifted -- i am addicted to crypto winter. aren't we all. not only on what you are following on twitter, what you are following on the ground? guest: it is an interesting question there are a lot of academics being called upon in the house and senate hea

you're in the house financial services committee. are you expecting a recession in 2023. ou be pry or prioritizing in that committee. >> i hope to be a subcommittee chairman. we'll see how the leadership races go. you'll see a lot of oversight for the securities and exchange commission, in particular. you look at the fe next fraud, w -- ftx fraud, how did that go undetected. what kind of mechanisms do we need to create. we've been working to provide regulation for the crypto space. it's buy par bipartisan. we have factions he refusing to do i y it. a lot of attention given to what is a fiduciary in the wake of the woke governance models put out there. maria: the fallen ftx founder sam bankman-fried was released on what they're saying was a $250 million bail although dagen laid it out that it's actually not $250 million. caroline ellison and gary wang both pled guilty to fraud charges. how do you see this situation? >> it's hard to look at the facts that we already know and with the acting ceo coming in to restructure and his testimony before the committee just on the 13th

arrest coming just hours before the ftx founder was due to testify remotely before the house financial services committee congressman lee zeldin telling fox news quote house republicans were ready to grill him six quay ways to sunday now breaking tonight, meaning last night. sbf was just arrested. why not allow him to first testify tomorrow and answer our many questions under oath? current ftxceo john wray will appear at today's hearing. he plans to tell the committee that the firm as unacceptable management practices and the collapse is a result of a concentration and control in the hands of a very small group of grossly inexperienced and unsophisticated individuals. in his last interview before his arrest bankman freed called for transparency around the investigation into his firm's collapse. listen. >> i think, you know, as many transparency, windows on the business as you can. both because customers deserve that i think that would have helped see me more in touch of what was going on as well. >> todd: the justice department is expected to "extradition of the disgraced crypto boss from the bahamas and

>> steve: sam bankman freed himself tweeted out the representative waters and the house committee on financial services i have finished learning and reviewing what happened, i would feel like it was my duty to appear before the committee and explain. i'm not sure that will happen by the 13th. but, when it does, i will testify. of course he has been accused of fraud and losing all this money. he has got figure out exactly what his best story is so that he does not appear like he was to blame because he says he is blameless. but, as we have seen in the past. particularly when it comes to like when the heads of social media go in front of these committees in congress, none of those guys and women know how it works, exactly. you know when they would go blame the algorithm. okay. i don't think anybody aside from their staff understands crypto to the point where they could effectively grill him and figure out that is true but you can understand the idea of you when users who deposited money that was supposed to be their money but you used that money to fund a different company. how much did you know about th

we do know that sam bankman-fried will testify before the house financial services committee. hot and how nasty it could get. let's just say, very. (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. neil: all right. he's a wunderkind, but a lot of people wonder how he could lose billions of dollars and maybe drag himself before those in power who might seek eventually putting him in jail.

this was to be the day that sam bankman-fried was to testify before the house financial services committee. all was set and then arrested in the bahamas where his exchange is located and where his home is located robbing a key conservative player and a key democratic player of the chance to know what really was going on. their upset and they're both here. where can you save time shopping... and spend quality time, at the same time? lowe's, actually. this holiday season experience the magic of winterfest. after years of chasing the big idaho potato truck... i finally caught it. oh man. always look for the grown in idaho seal. young lady who was, you know, mid 30s, couple of kids, recently went through a divorce. she had a lot of questions when she came in. i watched my mother go through being a single mom. at the end of the day, my mom raised three children, including myself. and so once the client knew that she was heard. we were able to help her move forward. your client won't care how much you know until they know how much you care. ♪ ♪ no two dreams are the same. but there is one van eq

sbf was supposed to join current ftx ceo at a house financial services committee hearing this morning john ray iii, whose been tasked with untangling this whole mess and all of the missing billions at ftx and its alameda crypto hedge fund performed solo and said this to lawmakers. >> we've lost $8 billion, all right? of customer money, so by definition, i don't trust a single piece of paper in this organization. liz: and that's only the beginning of the stunning comments ray made. grady trimble live on capitol hill following every moment of the house hearing. grady pretty extraordinary. reporter: it has been, liz, and we learned more today about what new ftx ceo john ray meant when he called sam bankman-fried in the operation he ran at ftx unsophisticated. he says what little bookkeeping they did do, they used quickbooks for. he also says money flowed freely between the crypto exchange ftx and sbf's hedge fund alameda. >> this is just taking money from customers and using it for your own purpose. not sophisticated at all. sophisticated perhaps in the way they were able to sort of hide

ftx founder sam bankman fried has agreed to testify before the house financial services committee.ocompany's recent collapse left millions of creditors without their funds. the 30-year-old has been holed up in the bahamas since his company filed for bankruptcy last month. >>> twitter is relaunching a revamped version of its twitter blue subscription service today, and it is more expensive for apple users. the service will allow people to edit tweets, upload higher quality videos, and get a blue checkmark for $8 per month through the web but for $11 a month through apple ios. blue was initially launched last month, but it was suspended over a bunch of quickly made imposter accounts. >>> that is your cbs "money watch" report for this monday morning. i'm matt pieper, cbs news, new york. >>> "black panther: wakanda forever" is not giving up the top spot. the blockbuster sequel has become the first movie since the original "black panther" in 2018 to top ticket sales for five weeks in a row. at number two is "violent night" with $8.7 million and the animated adventure "strange world" in

of the fact he was arrested the night before he was supposed to testify before the house financial services committeeyeah. i'm not -- that doesn't bother me at all. it can be that the timing was -- i'm speculating, totally speculating, there was some discussion perhaps that he was secreting money around the world in different countries that he was going to skip to another country that didn't have a strong extradition treaty with the united states, and the government moved in as quickly as possible to prevent that from happening. that's pure speculation, i don't know but it is not the first time the government moved quickly when those -- when that evidence is out there and they're concerned about what the defendant is going to do. >> so you expect more indictments here to come, more co-conspirators here he's now being accused of conspiracy to commit wire fraud, customers and lenders money laundering, violations of campaign finance laws, there are eight criminal charges here. what is he looking at if convicted? >> we won't be around if he gets the maximum. let me put it that way you're much younger tha

when you look at how the house financial services committee looks at this, there is disagreement betweenole the sec should like an crypto enforcement. you also have representative william timmons asking whether it would have been helpful in a case like this to have a sworn testimony before an indictment, before having him arrested. that is an interesting dynamic. sam bankman-fried was supposed to testify virtually and then was arrested last night and therefore was not available to testify today. it sat heavy on these lawmakers looking for answers for constituents. if you look through the indictments and the complaints from the sec, you get a lot of information separately outside of these hearings as to what went on ftx in the years leading up to 2022 when he stepped out as ceo. sam bankman-fried that is. jon: these lawmakers leaning heavily on what john ray had to say, who has rarely minced words. let's play a little more of what he had to say during the testimony. john: literally, there is no record-keeping whatsoever. in the absence of record-keeping, employees would communicate invoic

. >> reporter: republicans on the house financial services committee are also questioning the timingbf's arrest. he donated millions of dollars as kelly reported to democrats who are going to have to answer questions about that under oath today, neil but obviously isn't going to do that now. neil? neil: all right. thank you very, very much for that grady. just to sesfy, to clarify something, i had said concerning the new ceo over at ftx, john j ray. one of the things he had done early on, when the company formally entered bankruptcy the bankruptcy lawyer who would be placed in charge was mr. ray. now that was a board decision to turn that over which included at the time sam bankman-fried but that is the extent of whatever kind of working relationship they had. i just wanted to clarify that. david marion joins us head of litigation, regulatory affairs. david, so many unanswered questions here including the timing of this arrest of mr. bankman-fried in the bahamas yesterday. what do you make of that? >> i mean the indictment was handed down last friday but not unsealed until today. the

he will not be testifying as planned before the house financial services committee chairman of the committeeine waters questions why he was arrested ahead of the testimony. the public had been waiting eagerly to get answers under oath this arrest denies the public of the opportunity. we will still hear from the current ceo john wray later today at 10:00 back to you. >> kate, thanks. joining us to talk about the impact on cryptocurrencies is kristen smith, blockchain executive director i watched this closely this morning. bitcoin is up a little that has more to do with risk-on trades and yesterday's move and stocks and what happens with the cpi today and fed talk and everything else. are you surprised that something like a bitcoin or ethereum has held up well given the back drop >> i think it is an important point, joe what happened with ftx is a failure of a centralized institution and the management of that institution not having proper values and care for customer funds it has nothing to do with crypto networks and cryptocurrencies that fuel that network and at the end of the day, what hap

>>> still ahead, ftx founder sam bankman-fried says he will testify in front of the house financial services committeek. he shared this news in a series of tweets earlier today at hthe lawyers may not be loving. we have the very latest, ahead >>> welcome back a new development in the ftx saga with sam bankman-fried saying he's willing to testify in front of the house financial services committee next tuesday when they exam the collapse of his company. kate rooney is here with the very latest. what a tweet storm, kate >> a lot going on here this will be the first time that we hear from the former ftx ceo and it will be under oath. sam bankman-fried has been on a bit of a media blitz recently giving hours of interviews and hasn't been holding back on twitter, as we saw this morning, bankman-fried saying in a tweet, responding to maxine waters, quote, i still don't have access to much of my data, so there's a limit to what i will be willing to say and i won't be as helpful as i'd like, but as the committee still thinks it would be useful, i am willing to testify ceo of ftx at this point, john wr ray is o

sam bankman-friednd its current ceo are expected to testify before the house financial services committee. wednesday at teddy m eastern the senate banking committee -- 10:00 a.m. eastern the senate banking committee wil a hearing. use and senate are both in session. both chambers are working to pass government funding legislation bite next friday. watch this week, live on the c-span networks or on now, our free mobile video app. head over to c-span.org for scheduling information or to stream video live or on-demand any time. c-span your unfiltered view of the government. >> house and senate leaders gathered to honor those with the congressional gold minute -- gold medal. members of the u.s. capitol police, the dci metropolitan police department and others were in attendance for the ceremony. this is just under an hour. >> ladies and gentlemen, please welcome our honored tkpw*egs, speaker nancy pelosi, democratic leader charles e. schumer, republican leader mitch mcconnell, republican leader kevin mccarthy, chief j. thomas manger of the united states capitol police, and chief robert j.cont

house committee this month. however,ee. he's he's unlikely t the grilling that he deserves. in fact, iit is got actually coe love fest. >> democratic congresswoman maxine waters chairs the house financial services committee . nancial services committee >> and in an interview today with politico, she politely asked the democrat me a second only to george soros in donations this midterp m by the way, she has to answe some questions about the collapse of a collapse sf cryptocurrency empire. but the thing is , you shouldn't expect any fireworks because she is seeming awfully chummy with the crypto loser ate a democrat party retreat into ls philadelphia this year, bakeman friede made a guest appearance foerr a panel discussion on cryptocurrency, perhaps on how to book the public of investment money intot a currency they don't actually understand. so it could be funneled to democrat lawmakep crypys ande you can see from this photo ata the event, waters was allt to smiles while standing next to the vegan crypto nerd. and if you're thinking she is just showing her excitementre after trading zucchini bread recipes, she actually tweeted this morning that sheapprec appreciates how candid he's been during

a lot of attention there on the house financial services committee this morning.ack to your calls, a couple left in this first segment. north carolina, jamal, good morning. caller: thanks for c-span and for getting me on. you know, america, united states of america, we have a fiat currency, that is basically it currency that is not backed i anything, not backed by gold or precious metals. the currency is just printed out , or in this day and age, it is digital. the only thing that really creates the value to the u.s. "dollar," is our military and our ability to protect our friends, protect ourselves, and sendoff -- fend off the enemy. so with this fiat currency that we have, we are able to create tanks, jets, bullets, and any other drone or whatever we need as far as defense. so the military essentially is the value of the u.s. dollar, and that is all i see. host: this is bill in mesa, arizona. -- phil in asa, arizona. caller: it seems like bending is always politicized around presidential campaigns. every president says i'm going to rebuild the military and they

kathleen: sam says he will testify before the house financial services committee after he reviews events. all about the jobs report on friday. hotter than expected suggesting the federal reserve may have to raise rates even higher than at thought when it gets to the december meeting. keep rates higher longer. stocks were down about 1%, volatile. the s&p 500 was down about 1/10. the bond rally fizzle. we will see how that continues. oil down on friday, 1.5% ahead of the meeting. after the meeting, a lot of uncertainty over western sanctions. we will see how that unfolds let me get to the open in just about one hour for the crude oil trading. let's look at payrolls. as for the headline number, up more than forecast. 263,000. october revised. the average hourly earnings was wages. far above the 4.6% forecast. the trend is up, not down. concern that there is a ways to go. >> the labor market is strong and we are still in unprecedented territory in terms of the gap between vacancies and jobs. with that has to tell you is we have a long way to go to get inflation down where the fed has said wh

tuesday morning, connecticut democratic congressman jim himes who is also a member of the house financial services committee. then a look at funding for the national defense authorization act with house armed services committee member republican congressman don bacon. watch washington journal live at 7:00 eastern tuesday morning on c-span or c-span now. join the discussion with your phone call, facebook comment, text messages and tweets. c-span is your unfiltered view of government. funded by these television companies and more including comcast. >> you think this is just a community center? it is way more than that. >> comcast is partnering with a thousand committee centers to create wi-fi enabled -- so students can get the tools they need for anything. >> comst support c-span as a public service giving you a front row seat to democracy. >> next, a look at a two state solution between palestine and israel with presented jerry connelly, met alene dean and senator elect peter welch. they's failed -- they spoke as part of a conference in washington, d.c. the palestinian prime minister also appears in taped re

coming up tuesday morning connecticut democrat jim hines is also a member of the house financial services committeeill talk about the upcoming government funding deadlines and increasing the debt ceiling. that i look at funding for the national defense authorization act. house armed services committee member nebraska republican congressman fagan. west washington journal live at 7:00 a.m. eastern tuesday morning on c-span or suspend now our free mobile video app. during the discussion with your phone calls, facebook comments, text messages and tweets. ♪ works his spanish unfiltered view of government. funded by these television companies and more including cox. quick settlement can be hard. internetwork is even harder for that is my we are providing lower income students access to affordable internet so homework can just be homework. cox connected to compete. cox, support c-span as a public service along with these other television providers. giving a front row seat to democracy. dr. anthony fauci served as a public health official for more than 50 years. he reflected on the spot to the covid-19 pan

the house financial services committee

coming up tuesday morning connecticut democrat congressman jim hein is a member of the house financial services committeetalk about the upcoming government funding deadline and increasing the debt ceiling. then look at funding from the national defense authorization act with house armed services committee member nebraska republican congressman. watch "washington journal" live at 7:00 a.m. eastern on tuesday morning on c-span or on c-span now are free mobile video app. join the discussion with your phone calls, facebook comments, text messages and tweets. malcolm clocked congressional gold medal ceremony honoring the u.s. capitol police, the washington d.c. metropolitan police and others who protected the capitol ungenerous 652021 will be awarded by members of congress, led by house speaker nancy pelosi. watch live coverage tuesday morning starting at 11 eastern on c-span, on c-span now our free mobile video app or online at the snow.org. >> c-span now is a free mobile app featuring your unfiltered view of what is happening at washington live and on-demand. keep up with the day's biggest mental live strea

the house financial services committee was out to get answers from senior executives a task that has been made more complicated by the fact he was arrested. sam bankman-fried himself on monday in the bahamas. chris is here with us. walk us through what happened from a legal perspective with sam bankman-fried. >> as we can see that things are breaking right now that he was going to be held in the bahamas in jail until february 8. that pushes some things down the road for the immediate future. he will apparently play that tradition which will take a wild. and it -- a while. and it could take months or years. if not, it is a real question as to how that will proceed before he even gets here to face the charges that they are facing him with which are pretty substantial. ed: you are covering financial crime in the courtroom and preparing to be in the courtroom is never straightforward. the burden will have to fall to the prosecution what is it they will have to demonstrate and prove when it comes to the actions them bank when took or did not take? >> they will have to show that he he is c

and the testimony that is on the housing financial services committee right now.ailure to implement any systems or controls necessary for a company to be entrusted with other people's money. we know he has spoken a lot in --including today on twitter spaces as well. and looking at what he said. we expect him to reiterate some about tomorrow. he has no data about anything so that all he can go off of is his memory. he is no longer ceo of the company so there is some data he's not allowed to but at the beginning he was charged with the impact of ftx. and he bared the responsibility of making sure things happen at ftx we know that he has taken responsibility for some things but at the end of the day he has been careful to recuse himself from the idea of ftx investing customer assets to his knowledge. ed: and then we get an act one and act to with john ray the third who is the current ceo administrator testifying. it is not as though they will bump into each other and have an awkward interaction someday. >> not a lot of hugging these days for sure. he is testifying vi

much for sharing so much of your >> this morning, the ftx ceo will testify before the house financial services committee. live on

president's desk for final approval want to bring in arkansas congressman ranking member house financial services committeeongressman, thank you for joining us nine respects said "yes" a lot of spending in this to be clear pork bill spending we are calling it your reaction. >> -- congressman? >> sure i voted no, because the process is so the thoroughly he broken can you hear me. cheryl: we can hear you go ahead. >> okay. cheryl: sure i voted "no," look our process is so completely broken, and the democrats over the past two years, have just had a spending spree. with the american rescue plan inflation reduction act infrastructure bill appropriated money when you look at that plus forgiving stein loans sending 1.3 trillion dollars more annualized than in 2020. so, we've got to get this spending under control ro, my no vote was a process no vote because i supported defense many good things in bill we've got to go to pre-pandemic spending priorities. >> let me read what mitch mcconnell said about this he said this is the military spending what you are referencing he said the world's greatest military is getti

morning, it connecticut democratic congressman jim hiems who is also member of the house financial services committeehe'll talk about the upcoming government funding deadline and increasing the debt ceiling. then a look at funding for the national defense authorization act with house armed services committee member nebraska republican congressman don bacon. watch "washington journal" live at 7:00 eastern tuesday morning on c-span or on c-span now, our free mobile video app. join the discussion with

in a statement tomorrow sam bankman-fried was scheduled to testify in front of the house financial services committee. house republicans were ready to grill him six ways to sunday. now breaking tonight sbf was arrested. why not allow him to testify tomorrow and answer our many questions under oath? on twitter bankman-fried previewed his testimony saying they won't get a lot of answers they're looking for. ftx and related investment firm fell apart a month ago after a run on deposit exposed an $8 billion shortfall. just to think. he was getting ready to testify this morning. hours before he gets arrested and completely goes silent. not clear who his attorneys are. will he testify is the question as this legal saga now goes on? >> dana: joining us for more is assistant u.s. attorney andy mccarthy and james freeman and charles payne host of making money. since the criminal complaint has been released, andy, we'll turn it over to you. the one charge that surprised us and understand a little more is one on campaign finance. >> we know, dana, that what the allegations is that the money that was diverted to

the chair of the house financial services committee invited the founder of collapsed crypto exchange to join the panel's hearing for next week. bateman says he will appear but only after he has finished quote, learning and reviewing the events that led to the implosion. he says that will --he is not sure that will be in time for the hearing. the uk's rail union has rejected an offer that would end the strike before christmas. it includes a pay rise of 4% including reforms to practices. rail workers who claim strikes on eight days in december and january grow a growing wave of workers taking industrial action in the u.k. overpay. -- over pay. global news, 24 hours a day, on air, and on bloomberg quicktake. powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: thank you very much, so dani, we had the chairman ask a layman on friday -- axel leh mann on friday. but mohamed bill solomon -- mohammed bin salman might put $150 million into the investment banking unit. could it be the sovereign wealth fund, and bob diamond thinking about taki

comes just hours before he was set to testify before the house financial services committee remotely.york times" reporting the charges include wire fraud, securities fraud, and money laundering. former acting u.s. attorney general matthew whitaker joins us now. a.g. whitaker, you brought a case or two in your time as a.g. walk us through what happens next specifically with regard the case and two with regard to sbf. >> well, good to be with you both of you this morning. you know, in this case they are going to first have to extradite him from the bahamas. that should be an easy process but it's never super simple to get people from other countries but obviously it's a friendly government to the united states. once they get him to the southern district of new york, he 8 be arraigned. very interesting when they release this indictment as to how much information they have. this has been a flurry since november but at the same time, investigations like this complicated financial schemes take a long time to prove. i will be very interested if this perfunctory indictment on a few charges or

ftx founder, sam bankman-fried, as he expected to testify virtually in front of the house financial services committeepitol hill. sonali basak is headed to d.c. in real life right after the show. thank you for sticking around with us. what are we anticipating for him to say that is new that we haven't heard in some form of apology to her already? >> you have the new ceo speaking first, and then sam bankman-fried speaking after. we hear that will be in the afternoon, so there is time in between. to what extent does he answer things we know that john ray has not only put in the bankruptcy filing, but in the testimony posted on the house committee right now. those include a failure to implement virtually any systems or controls necessary for a company to be entrusted with other people's money. we know sam bankman-fried has spoken a lot, including today on twitter spaces, and as we take a look at what he said we can expect him to reiterate some of this tomorrow. right now he has no data about anything. all he can go off of is his memory. he is no longer ceo of the company, so there is data he is no longer

he had agreed to show up at least over zoom here for the house financial services committee. legal experts i'm talking to question some of the timing but say if anything it suggests that the feds and the doj here did not want to give him any more chances to poison a potential jury as they put it. there's questions about he's done hours and hours of media testimony. he's done deal book, podcast, twitter spaces they wanted to cut it off there and say he's already painted public opinion in a lot of ways. they wanted to get ahead of it some people don't buy that others say they just wanted to stop the sbf show as they put it and he had another chance to go out there publicly in front of congress although this would have been the first time we have heard from him under oath. the bar is much higher than than doing a podcast, for example >> i want to come to you on what's going on in crypto now. specifically binance a wave of withdrawals that's carried on today what do we know? >> $1.6 billion of withdrawals they're halting withdrawals for one particular cryptocurrency, stable coin,

let's bring in texas republican congressman lance gooden a member of the house financial services committee. good to see you. can you really change anything even if you have, as you do, will have in the next week or so power in the house without the white house backing change? >> we can't. it will be more difficult than it would be if the white house was run by a republican. starting next week with republicans in charge what you will see for the first time in two years since president biden took office is an authority in washington actually declaring a problem. what we've seen for the last several years is no one in charge wants to admit we have a crisis at the border. starting next week we'll take control of the gavels of the committees, house judiciary committee led by representative jim jordan will begin oversight and actually being able to compel witnesses to testify. we'll have subpoena power and we'll be able to hold hearings and actually find out how much in bed with these non-governmental organizations the biden administration is that are encouraging illegal immigration. what is thi

we know maxine waters, who runs the house financial services committee, was shown with her arm around him essentially taking pictures after i guess she got some money. they blew him a conkiss, is tha true? that is embarrassing. you'll hear calls about regulation. we need more regulation. i'm sure the s.e.c. will say that. this is theft. that's always been a crime. you steal, you go to jail for a long time. which is where he is heading, i think. >> bill: charlie, thank you. >> dana: thanks for being here. >> bill: appreciate it. >> dodging the flu. >> dana: the end of title 42 border restrictions days away. two of the biggest cartels are looking to cash in when that happens. our next guest is weighing a run for a 2024 white house. former vice president mike pence on the board, his political future and the future of the republican party next. hi, i'm lauren, i lost 67 pounds in 12 months on golo. golo and the release has been phenomenal in my life. it's all natural. it's not something that gives you the jitters. it makes you go through your days with energy, and you're not tired anymore

the chair of the house financial services committee looking to clarify plans at taking a closer looksam bankman-fried and ftx collapse maxine waters is prepared to subpoena sam bankman-fried if he does not agree to appear next week the comments come after a cnbc report that she informed a group of democrats she doesn't plan to subpoena the former ceo. sam bankman-fried missed a deadline last night to respond to a senate banking committee request to testify before a hearing. and companies must disclose exposure and risk to cryptocurrency >>> united airline is set to announce a major order with boeing the deal will involve the 787 dreamliner reuters reporting apple is bracing for a strike by workers in australia saying hundreds of employees are preparing to walk off the job ahead of christmas union leaders say employer emple demanding better wages. >>> the portion of the keystone pipeline has been shutdown after 14,000 barrels of oil spilled into the waterway in kansas. the cause of the leak is unknown at this point. it marks one of the largest oil spills in the u.s. in nearly a decade

entered into the representative. >> that was yesterday at the ftx hearing before the house financial services committeeinion on crypto regulation partially formed after speaking with stifel's chairman ron kruszewski. ron, fun hearing your name yesterday. first of all, tell us what you told the congresswoman and then we'll take it from there what did you kind of impress upon her and/or help when she was trying to form an opinion on this >> first of all, i started with the fact that she shouldn't be spending too much time trying to necessarily figure out what happened what happened is as old as charles ponzi. you can go through history and the same thing happens a company, in this case ftx, took customer funds. they then said they had an asset that was worth something, the token. it wasn't worth anything they took customer funds and misused them that's classic, simple 'em beszaliment. we don't need five weeks to try to keep telling that story over and over again on the other hand, i said to her what's most important as we sit here today is that we apply rules that are already on the books to this industr

sam bankman-friednd its current ceo are expected to testify before the house financial services committee. wednesday at teddy m eastern the senate banking committee -- 10:00 a.m. eastern the senate banking committee wil a hearing. use and senate are both in session. both chambers are working to pass government funding legislation bite next friday. watch this week, live on the c-span networks or on now, our free mobile video app. head over to c-s

house financial services committee going ahead with the hearing despite bankman-fried's absence. >> i look forward to getting his lies on the record under oath. envelopes the arrest of sam bankman-fried is welcome news but still does not get to the bottom of what happened at ftx and why it happened and who else may be responsible. >> harris: the key witness today ftx's new ceo john ray. >> ftx groups collapse appears to absolute concentration of control in the hands of a small group of grossly inexperienced, unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a cohen trusted with other people's money or assets. >> harris: we brought together a special panel of legal experts standing by. fox news contributor leo terrell is here and former acting attorney general under trump matt whitaker is here. they will be together. let's go to fox business's kelly o'grady for the latest on bankman-fried. >> good to be with you. we've been building towards this arrest but the story is still developing by the hour. let's get right to the

bankman-fried said he would testify before the house financial services committee only once he finishedd reviewing what happened saying, he is not sure that will happen by december 13th. investors who lost something have something else in mind. >> he should already be in jail. he should already be behind bars. he should be made to surrender all these assets with lawmakers to get the funds back from the democrats, to the house and to the bahamas. we don't know where the billions of dollars went. >> congresswoman katherine clark would not clarify if democrats should return the fbi x donations. >> that is going to be up to individual campaigns, but you know, this is how our system works. one of the most alarming things that we saw in november was the rise of dark money. money coming in from individuals exceeding over $1 billion. and money and campaigns that we don't know who it came from. >> some democrats have pledged to donate what they received from bankman-fried to a charity, but there are plenty of ftx investors, especially the small ones that said, they want their money back. >> ashl

house financial services committee is ready to subpoena the ftx founder sam bankman-fried if he doesn't answer questions next week maxine waters says he will need to cooperate >>> the s.e.c. issued new guidance for the cryptocurrency dry. businesses may have to share if they have material exposure to firms which have gone bankrupt regulators are bracing for fallout from the collapse of crypto players including ftx and blockfi. >>> blackstone has taken heat for withdrawals from the private reit it exceeded he prpreviously set limits the etf is down 26% year to date the blackstone president and chief operator officer john gray defended the plan and saying investors knew the reit had limits on redemptions. >> we set up the product as semi liquid because we knew there would be periods of volatility we didn't want to sell under pressure we put limitations in place. including a 5% cap in terms of quarterly liquidity and redemption what happened this year is we saw selling pressure from asia given the market moves there that led to some news articles and el the sevated levels of redemptions. t

the house financial services committee will host to the hearing. live coverage starts at 10:00 a.m.astern on c-span3. host: good morning, everyone on this sunday, december 11. welcome to the "washington journal." a recent poll found a small rebound in approval of the u.s. supreme court. this morning, we want to know your view of the high court. republicans, dial in at (202) 748-8001. democrats, (202) 748-8000. dependents -- independent at (202) 748-8002. you can also contact us via text. let us know your city and state. (202) 748-8003. go to facebook.com/c-span. and you can tweet us at c-span wj. a poll was conducted last month in november and this is what they found. 44% of adults approve of the job the supreme court is doing. while 56% disapprove. in september, 40% approved and 60% this approved. a small rebound, they say, for the court. approval declined sharply between july and september of 2021. and then fell further in may of 2022, following the leaked opinion of dobbs v jackson women's health. it overturned roe v. wade which had prevented abortion nationwide. there is a heari

the house financial services committee will host the hearing. live coverage star10:00 a.m. eastern on c-span3, online atea mandatory, or on c-span now, or free mobile app. >> preorder your copy of the congressional directory for a 118th congress. it is your access to the federal government, with bio and contact information for every house and senate member. important information on federal committees, agencies and state governors. scan the cone of the right to preorder your copy today. it is $2985 plus shipping and handling. -- when you $9.95 plus shipping and handling. announcer: after a 25 day journey around the moon, nasa's artemis one orion splashed in the pacific ocean off the coast of california. nasa administrator bill nelson and other officials discussed the spacecraft's return in a news conference. this is an hour. >> good afternoon and welcome to nasa's johnson space center. i am nasa press secretary jackie mcginnis. what a historic and exciting day it is. earlier this morning, the orion spacecraft splashed down off the coast of baja, california, at 9:40 a.m. paci

one obvious possibility that is the democrats who run the house financial services committee were loatheitical contributions to democrats. andy, thank you so much for being here. we started the show this morning and it's exactly the question i asked, why, why now? is it because the democrats did not want all those donations to be exposed in -- under oath the testimony yesterday? give us your reaction to this fallout. >> maria, i can't really understand it. i was a prosecutor for a long time but anyone who is a prosecutor for 5 minutes knows that if somebody came in and said to you, you have a subject who is your main prospective defendant in a mega fraud case and before we arrest him, we have an opportunity for him to answer under oath about 4 hours of hostile questions from lawmakers. there's no one who wouldn't sign up as a prosecutor in a heart beat which is why every defense lawyer on the planet would tell the guy don't testify, take the fifth. so it's very curious that they would abort that by arresting him really on the eve of when he was going to testify and if the explanation isn