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investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >> driving down the value of the currency there. the dollar is up 17% . >> we will tell you how they are doing it in the next half hour. >> and a lot of heat in washington today. >> it is an embarrassing story for the obama administration. >> the irs denied it in a hearing to congress that it wasn't true. i just got off the phone with an irs conference call where they are acknowledging that inappropriate screening of tea party related political organizations took place. they say it wasn't for a partisan purpose. here is their explanation. >> many applications are still pending but this is something that republicans are already asking for a government-wise review of this conduct. when you put this story in combination with some of the questions that have been raised about the administration, publish statements on the hearing over the last couple of days, it does add to an embarrassment for the admin

investment management combined with investment servicing.the power of investments to people's lives. invested in the world. bny mellon. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. >>> good day, everyone. a very special edition of "power lunch qutd "coming up. three years to the day after the dow lost 1,000 points. the value in just seconds. we want to know what's changed. are we any safer? are the markets fairer? could it happen again? at the top of the hour, we have industry players, regulators and we're going to bring it all back to you, the individual investor. are the market s free and fair? it's a big lineup today on "power lunch." sco scott, back to you. >> see you in 12 minutes. as tyler just mentioned, we are mar

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bny mellon combines investment management & investment servicing, giving us unique insights which helptract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >> let's get an update on the markets. we have come back a little bit. we are almost back to the unchanged level. >> he is a dove and a voting member. he said bond purchases will continue until substantial improvement in the labor market. i don't think they see it yet. take a look at the dow jones. on a typical day the dow industrial moves about 125 points. options exploration. there is a lot of shorts in gold. remember the obama administration approved a big texas export. you can own these stocks in that exchange traded fund. will get their earnings report. lowe's was. these stocks have had huge runs. >> bob. thank you so much. one of the things that is competing for investor interest is the bond market. it seems to be going the way of stocks, not bonds. we have the five year note. a loot of p

waiting room is just a room. [ static warbles ] [ telephone ringing ] bny mellon combines investment management investment room giving us unique insights room. which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >> we have a new development in gun manufacturing today that has some people very nervous. remember that america's gun, rise of the ar-15, we introduce you to the 25-year-old law student who is making parts from 3d printers and putting the parts online. apparently he has produced a working handgun entirely printed from a 3d printer. all plastic guns that are undetectable are still illegal. wilson and his non-profit group plan to put the blueprints for this gun online and perhaps it is not difficult to see where this print your gun at home trend could go. thank you for joining us on relatively short notice. >> good afternoon. >> thank you. what is your goal here with regards to 3d printing and firearms? >> 3d printing is a very goo

investment management coined with investment servicing. ininvested in the world. bny mellon. lou: president today. reaffirmed his confidence in attorney general eric holder. my next guest served in obama justice department, and has subpoenaed records from a news organization in his experience, and he will share it with us tonight, joining us christian adams, autr of the book, "injustice" let's turn to what is happening internal revenue service looks like it is about to bome a bigger scandal because of what administratio tried to do, which is ignore fact that woman who led tax exempt division of left in place, of all of the departments, the affordable care it that will manage 16500 irs agents to support the individual mandate and obamacare itself, it could n get much worse for that one small unit, could it? >> probably not this administration knows how to use power and loves it, they put their most reliable, idea call, seasoned career breuercrats in the places. lou: this may be a death n for affordable care, there is no trust in this government right now. not in any quarter,he

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>. >> welcome back. tells la striking while the market is hot. the electric market announcing a 2 million share of common stock will be offered. the ceo buying $100 million worth of shares at the public offering price. the company intend to pay off the department of energy loan with interest. shares up more than 6.5%. up 66% in a week. 112% in a month. melissa, back to you. >> thank you, courtney reagan. >>> a company paying back the doe loan with interest. >> that was one of the negative cases on tesla. the regulatory issues. they want to get that out of frame. i'm surprised that the stock is higher, not lower. obviously as a result of mr. musk buying into his own secondary. he will get a better chance, i predicted this yesterday, not the timing, at some point they should raise money. i would hold off for a better buying opportunity. i don't think this thing will keep going without the pause. >>

bny mellon combines investment management & investment giving us unique inshts which help us attractndustry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. insted in the world. bny mellon. neil: abercrombie be serious, the guy whose stores are nope for chiz -- chic led models saying larger people shouldn't shop there, and shopperers of all sizes saying, you know where you can go? he overred a semiapologizes, revenue down, outlooks work. should he be blitz out on his ass? >> i understand he's trying to defend the brand, putting a size 12 brand in the mouth. it's one thing to target specific customers, but another to exclude them. >> you know, really the mistake made was sayi what she was thinking and pay traps of the store are thinking he just put to words what a lot of folks think. u don't look like the models, then you don't go in there. >> neil, yeah, but i mean, you proved it's possible to be obese andsuccessful -- neil: i'm not obese, right now, i'm angry, young man, but continue the trin

joining us from that sky bridge alternative conference is james bucan, ceo of pacific investment management focuses on investing in hedge funds for clients. essentially, a fund of funds. jane, thank you for joining us today. >> thank you for having me. >> it is a tough environment. it's a tough argument to make for a seemingly riskier investment, when the simplest of investments is doing so well right now. you know, many investors are geniuses, right? >> well, i think you used the key word, which is seemingly riskier. if you actually look at the data, on a risk return basis, hedge funds went down only about half the equity market did in 2008. and risk and returns still go together, so they are less risky than the equity markets and they are going to have a hard time keeping up on the upside. >> so, jane, let's talk about the fees. i guess this is really the most debated part of this story. 2 and 20, is that what you basically pay for a hedge fund? explain to our audience what 2 and 20 is. >> 20 and 20 takes 2% of the fee and 20% of the profit ifs he makes money. if he doesn't make money, he

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. ♪ 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'adore, je t'adore, je t'adore ♪ ♪ ♪ s'il vous plait [ male announcer ] this is the pursuit of perfection. >> members of congress getting their first chance to tee off on the irs in the wake of the admission that conservative groups were targeted. we have been watching the fireworks. just the facts, ma'am, kind of approach. very clinical and analytical questions. is the head of the irs now who is resigned under pressure from the obama administration. by the end of this hearing as we wound down nearly four hours into it. take a listen. >> i think the american people have seen, this is an yoench and this is an outrage to all america. >> mr

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bny mellon combines investment management & investment servicing, giving us unique insights which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used tbuild new schools to build more bright minds. invested in the world. bny mellon. at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-timeelivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. yo chance to rise and shine. with centurylink as your trusted technology partner, u n do just that. with our visionary cloud infrastructure glob broadnd network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. [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 t

bny mellon combines investment management & investment servicing, giving us unis which help us attract industry's brightest minds who create powerful strategi for a country's investments which are used to build new schools to buildore bright minds. investedn the world. bny mellon. are yostill sleeping? ju wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. gerri: you are looking at live pictures of the floor of the house of representatives where it looks like the keystone pile line bill is passing, a big win possible for the keystone xl pipeline, all this week we've been discussing your medical privacy right. today we show you how companies are tracking that data, saying it is for your why do companies track your personal data we asked on gerri willis to thgerriwillis.com. you may soon be ale to bring furry members of your family with you next time you take the train, 4 house members are proposing a bill forcing amtrak to allow at least one car in the passen

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> as the federal reserve worries that the markets are expecting too much from the fed. >> as you know, fed policy is supposed to focus on two things, maintaining full unemployment and maintaining price stability in our economy. but our jeff cox has uncovered some comments from the fed that show concern that investors are expecting the fed to keep pumping the gas as well. >> and on and on and on. he joins us now along with fed expert greg ip and matthew slaughter of dartmouth school of business. >> jeff, tell us what you found? >> bill, i was parsing through the minutes yesterday and i found one sentence in there that was very interesting, that didn't get a lot of discussion. the fed minutes noted that some members expressed concern that investor expectations of the size of the balance -- size of the asset purchase program appear to have increased somewhat. now, to me, that almost reversed the par

bny mellon combines investment management & investment servicing, giving us unique insights which helpds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >> we should be seeing interest rates move down a little bit and so far we have not. some of the winners. hp, big gain of 14%. >> street signs begins right now.

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investment management combined with investment servicing.g the power of investments to people's lives. invested in the world. bny mellon. it's debilitating when you try to talk, when you're trying to eat, when you're trying to sleep. i'm constantly licking my lips. water would address the symptoms for just a few minutes. the hygienist recommended biotene. it's clean and refreshing, i feel like i have plenty of fluid in my mouth. i brush with the biotene toothpaste and i use the mouthwash every morning. it's changed my life. it is the last thing i do before i walk out the door. biotene gives me th fresh confident feeling. >> neil: kids take a hike. more colleges are finding out the hard way they kept upping their tuition and guess what? kids and their parents now saying up yours. and moving on to cheaper campus pass -- pastures. now the schools are in trouble. this has not happened at the ivy league schools. so ben is a pointless person to toss to. but what do you make of this, ben? >> i make of it that there is a lot of kids in college getti

investment management combined with investment servicing.nging the power of investments to people's lives. invested in the world. bny mellon. cavuto on business. have a great day. >>> all right. you get by with a little help from your friends because when the government wants to snoop on a.p. reporters or oher reporters like fox's jam rosen it needs help from verizon and google to get access like calls and e-mails. usually the companies say no problem. adam, you say when that happens, big problem, huh? >> yeah. the bar should be extremely high before telephone carriers and internet companies give anything to the government. they should resist as much as possible. we don't have an absolute right to privacy. the government can demand this information. but they should do it the right way. >> what do you think of this, ben? >> well, i think that the leak must have been a ser gigantic important leak for them to have gone to all this trouble and for them to be attacking fox. i serusly question whether it's just a leak or whether it's another itera

investment management combined with investment servicing.e power of investments to people's lives. invested in the world. bny mellon. >> back now at the investor summ summit. >> you introduced the topic of fannie mae and freddie. driven in part by some accounting charges. the company got about $116 billion in bail-out money. how would you in a fannie and freddie and what do you think should happen to those two? >> clearly they should now be abolished. >> some of us did try to stop the sub prime lending. people forget that. the bill with another democrat to start sub prime lending and it was stopped by tom delay who said it was a violation of free market principle. when i first became the chairman, i worked with hank paulson and we put the rules into effect that stopped the bad thing, gave them the power to put it in conservatorship. i think that's pretty good. what i think should happen now is they should be abolished. >> almost everybody who is in the housing market. >> and the way that people are moving, i believe, some republicans and adm

waiting room is just a room. [ static warbles ] [ telephone ringing ] bny mellon combines investment managementent room giving us unique insights room. which help us attract the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. >>> stocks are struggling to head back to record highs. but one stock bucking the trend today is barnes & noble, as you see right there, and jane wells spla explains why. hi, jane. >> barnes & noble's chart made for a very good reading today, on a tech crunch report that microsoft may buy nook media for $10 billion. and they'll stop making tablets next year. but barnes & noble shares hitting a 52-week high. microsoft already owns 75% of nook. john tinker thinks buying the whole division makes more sense to go after amazon and ebooks. and since their entire market cap isn't that much more, why not buy the whole enchilada and get some stores for mr. softy's retail plan. >> in the same way that apple has stores, samsung is now going to be us

investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> welcome back to a special edition of "halftime." live from las vegas, the belagio hotel. google at all time highs. the question now, can the good times continue. or is a pullback in the cards? the stock up another 1.5% today. let's debate it now. a special debate as well. we know how it is. the najarian brothers are going head to head. doc, make your case. >> all right, up 20% year over year. in other words, there is still growth for these guys. also, they're creating these 50 different channels. they're going to charge $1.99 a month for paid content. i think that's huge. and could be the thing that carries them over 1,000. they have that settlement with the eu. at least the offer that might end up becoming the settlement about the natural search versus their paid search. and they're back advertising in china. they're running ads in china. they'll get paid for it. >> the ad rev growth is slowin

investment management combined with investment servicing.nging the power of investments to people's lives. invested in the world. bny mellon. at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. >> brenda: predictions. toby, you're in the hot seat. go for it. >> those baggage fees are killing people. bayous air. you'll make some money. >> brenda: gary b., bull or bear? >> i'm bearish on that one. >> brenda: your prediction? >> the cw is the first network to stream to apple tv. up 50% over the next year. >> brenda: john, bull or bear o that? >> i'm a bear. >> brenda: what's your ediction, sir? >> my prediction is wal-mart is getting hurt by the paoll tax. they say i hate that, but family dollar will benefit, up 20% in a year. >> jonas, what do youhink? i'm a bear. >> brenda: your prediction. >> huge solar players reminding us there's energy to t

bny meon combis investment management & investment servicing, ving us unique insights which help us attracthes brightest minds who create powerful rategies for a country's investments which are used to build new schools to build more bright minds. insted in the world. bny mellon. gerri: the unofficial start to summer coming up next. we will give you vacation ideas coming up next gerri: are you stuck on where to go for your summer vacation and worried about breaking the ring to here is the ceo of a successful company. go? >> well, right now, the cheapest places on the west coast are los angeles and seattle area to want to brave spontaneous combustion, phoenix, las vegas are also in that category as well. gerri: i have to say that my husband and i even considered going back there because we were there this spring. 102 degrees. you cannot play golf than 102 degrees. >> in the central united states, it's actually in the south. san antonio, austin, it can be a little bit warm, you want to be careful. new orleans is also included in there. it could be hot and humid, so just be careful. but they are

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investment management combined with investment servicing.ringing the power of investments to people's lives. invested in the world. bny mellon. at od, whatever business you're in, that's the business we're in with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. >> this just in, wal-mart is not out in new york. because republican mayoral candidate joseph lota not only likes wal-mart, but he loves it. that is an anomaly. he also supports wal-mart coming to new york. so you know the history on us. >> we have elected officials who want to be servants for the unions. elected officials in new york should be focused on getting jobs for the people who live in new york. allowing them to bike clothing and food at list prices. >> they would be allowed to set up on jupiter. but that issue always gets in the way. when they hate the idea that this comes from somewhere in asia, each one of them has an apple iphone in their

investment management combined with investment servicing.nging the power of investments to people's lives. invested in the world. bny mellon. >>> we are watching herbalife. they choose price as auditors which will reaudit the company's financial statements. hlf jumped 11% yesterday. it's in the green again today. there was chatter there's been some possible short squeeze going on. short interest in this one, 32%. but traders i talked to said nothing out of the ordinary here. premiums haven't skyrocketed. negative three is nothing unusual. still tacking on another 4% right now. scott, back to you. >> josh, thanks so much. quite a move that we've seen here. i'm sure there are some shorts getting squeezed out. it's above 51 now. >> those that bought into the thesis are among those, scott. i doubt if it's ackman himself. just ahead of that the over-the-counter options, those that he bought expired may 10th. just ahead of that, two days ahead we talked about on this program the unusually heavy buying of money calls all the way up to and through t

investment management combined with investment servicing.nging the powerf investments to people's lives. invested in the world. bny mellon. neil: making it big play for the struggling computer maker dell. you're on the phone with us, karl, good to have you back on. how are yu doing this is a company, you honestly disagree. why is that? >> i'm a little surprised by that. it seems like this sale is giveaway. i can go intoetails with you if i want. because dell has a lot of great stuff there and you know? neil: what you like about it? >> well, first of all, if i may say, it has been disingenuous as far as i'm concerned. i won't go into the ambiguity the issue reallyis that one part is the enterprise software. they put this together, buying software, putting it in together for 26 years. so dell has a bunch of enterprise software. they are entrenched in many businesses. they are working with people that are in there and this is a business that really has great potential. >> it's a no-brainer. >> have you talked to michael about this? have you guy

bny mellon combines investment management & invtment giving us unique insights which help us attract industry's brightest minds who create powerfustrategies for a country's investments which are used to build new schools to build more bright minds. invevested in the world. bny mellon. the. neil: many of the other dozens of victims of this eek's tornadoes do neeto die and many didn't need to join him. they all share the same fate. but aren't shelters supposed to protect you? and they are pouring good mony into shelters, they e not really up to snuff to add this appropriate thing. this was the most lethal of all of that. before we get to the bottomof what went wron what team you say to us? >> it is a war asessment. we ha architects, engineers, those designing thh concrete sheltersthat will withstand the type ofwins. there was one house on the hill are the house was gone. ththere was a concrete shelter n space and templates. there was a well-designed shelter for kids. i pe everyoneill look at this. ne: you have to take out much of the southwest and the mdle part of the country. i don't k

manager. we are in all of those activities and give us a tremendous advantage in terms of the investment we make in our technology and culture of risk management. the way we can attract people who -- even if people don't intend to stay for 30 years they don't mind getting trained for three years. and just the way some people stay three. great recruiters. and i think those businesses fit together very well. and within our own organization there is the added advantage of being a business where we could still grow and hoping that the market gets bigger. how much are we going to grow our market share? same thing in the market making. s a st managers that are four times our size and the things i said about the growth and pooling of capital and wealth creation otherseas. i think it's a market that's going to grow. and one that gets a very, very hi percent taj and making sure we do it in a right and sensible way. >> what is goldman doing not only in terms of your firm but thinking about the industry at large to increase public confidence. customer and client confidence in the firm. >> the first thing t

investment management combined with investment servicing.ing the power of investments to people's lives. invested in the world. bny mellon. faso you want to save on autoof insurance?. drive a hybrid. get good grades. lose the bling. go paperless. combine policies. make automatic payments. and of course, talk to farmers. hi ♪ we are farmers bum - pa -, bum - bum - bum - bum♪ >>> all right. busy day on wall street as the record rally continues to roll on. let's start with famed head fudge managers david tepper's bullish case for stocks. take a listen to this. >> i'm definitely bullish. it's so overwhelming. the economy is getting better. autos are better. housing is better. it's a continuous improvement. they can't find enough people to work in housing, the only thing holding it back right now. >> all right. we basically want him on every day, did tepper's bullish call help? of course it did, always does. great reputation, made great calls. rebecca patterson, chief investment officer of best trust. stephanie link of the street. isn't it thestr

bny mellon combines investment management & investment servicing, giving us unique insights which helpact the industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. tens of thousands of dollars in hidden fees on their 401(k)s?! go to e-trade and roll over your old 401(k)s to a new e-trade retirement account. none of them charge annual fees and all of them offer low cost investments. e-trade. less for us. more for you. >> time for what i need to know next week. tracey? >> no surprise that the airlines are nickel and diming. frontier 1.99 for cough yejuice and soda? >> you have a problem to pay for coffee. >> i am sick of it. >> free market, john, right? >> you pay 2.50 on star bucks. >> not on the plane, come on. >> wayne, what is your call this week? >> first of all, i haven't p money in the rally. i am a little suspicious of it . i am nervous . i am saying lookingalt the long term look at google. >> wow, that is a big one. >> interest rates spiked up on fri

investment management combined with investment servicing.tments to people's lives. invested in the world. bny mellon. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. lou: the president today reaffirm his support and nt tody confidence in attorney-general eric holder despite concerns g over the justice department's seizure of the associated prs reporters and itors phone uest records.n our nextuest served in the obama jusce department and has s subpoenaed records from a news r organization and those share part of that with us tonight.iec joining us is christian adams, s former u.s. department of ght, j justice attorney, author of the book and justice. good t

investment managent combined with investment servicing.e power of investments to people's lives. invested in the world. bny mellon. .amelia... neil and buzz: for teaching us that you can't create t future... by clinging to the past. and with that: you're history. instead of looking behind... delta is loong beyond. 80 thousand of us investing billions... in everything from the best experiencebelow... to t finest comfortsbove. we're not simpaluting history... we're making it. at od, whatever business you're in, that's the business we're in with premium service like one of the best on-time delivery records and a low claims ratio, we dwhever it takes to make your business our business. od. helping the world keep promises. lou: our next guest says president obama in essence a issued marching orders to democrats in his administration by attacking the supreme court decision non-citizens united in his 2010 state of the union address. joining us tonight is the president of citizens united. it is great to have you with us. when you say, in essence,

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investment management combined with investment servicing.nging the power of investments to people's lives. invested in the world. bny mellon. ...a. neil and buzz: for teaching us that you can't create the future... by clinging to the pt. and with that: you're history. inead looking behind... delta is looki beyond. 80 thousand us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting story... we're making it. lou: a new book tells tale of louisa and john quincy adams trip to rusa. the war of 1812, centerpiece and relevant to today's global dynamics, joini us now, president at historian, american phoenix. jane hamilton cook. let me ask you. what brought your focus to this mission, and war of 1812, i have to be honest, i love the stories of 1812, andrew jackson, and the battle of new orleans. what brought you to it? >> well i was really fascinated about the story of louisa adams, she was a strong woman during the jane austin era. then i became intrigued with john quincy ada

investment management combined with invesent servicing.r of investments to people's lives. invested in the world. bny mellon. lou: take a look at what happened yesterday on floor the national assembly in venezuela. this flying between lawmakers over disputed election of hugo chavez's successor. majority seeking to punish opposition party for not accepting the results of president narrow elect victory, razor thin. no recount, opposition claims voter fraud provided that margin of victory, and seek to challenge that in court, more than 20 lawmakers were injured in that brawl. a peaceful transition of power sort of. both sides claim the other started it. u.s. officials suspect china to be behind the resan cyber attack targeting a sensitive database of every major dam in this country. hackers, compromising army corps of engineers national inventory of dams that contains information on vulnerabilities of all major dams, you are looking at right now, a small picture, i can't imagine why we have such a small one but there it is, a map of locations

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bny mellon combines investment management & investment giving us unique insights which help us attracthe industry's brightest minds who create powerful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon. gerri: how about spending golding years to pay off the mortgage to have money to pl with investments? that's right. this one unherd f nation has popularity wh seep yours and financial players. with more, the founder d ceo of real wealth nerks. i think this is such an interesting idea. you had really surprising thoughts on it because so many seniors, all they want to do is pay off that mortgage, but now that mortgage rates are in the toilet, they are so low, it's almost like getting free money, isn't it? >> that's exactly what it's like. first of all, any investment, any one make should always be well researched. if they are going to take money out of the of the home and invest it, it belter be a good investment, otherwise you have a big mortgage and nothing else. start ere. beducated befor doing anyth

investment management combined with investment servicing.wer of investments to people's lives. invested in the world. bny mellon. is. >>> a bloomberg database has a management crisis. jeff simonfelled is a cnbc contributor. joe is from fordham university law. before we get started we have comments coming in. one of our favorites, tony, pointed out that people are looking at this as a privacy violation. maybe that's not the way it should be looked at. it's a journal listic ethics violation. you have an idea that not everyone has access to this. it's probably not kosher. sometimes i think journalistic ethics and the world we live in right now is an oxymoron. joe, am i not right about that? >> that's a good point. this is akin to rupert mourdock's phone hacking, not rupert mourdock but news corp. it's not akin to some of these kind of legal stand calls out there. i think we wonder why somebody has access to information everybody else didn't have. did it matter? no. it seems inconsequential. that's perhaps why it didn't trigger an ethical prop.

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at bny mellon, our business is investments. managing them, moving them, making them work. rsee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment manement combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. ...amelia... neil and buzz: for teaching us that you can't create the future... by cliing to the past. and with that: you're history. instead of looking behind... delta is lookingeyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we creategalzoom to help people start their business and unch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.

investment management combined with investment servicing.ing the power of investments to people's lives. invested in the world. bny mellon. vo: ta friend under water isnd usomething completely differentt i met a turtle friend today so, you don'get that very often. it seed like it was more than ppy to have us in his home. so beautiful. avo: more avel. more options. more personal. whatever you're looking for expedia has more ways to help you find yours. ♪ lou: the "wall street journal" reporting that federal prosecutors are weighing whethe or not to go after the hedge fund of capital advisers under our rico statute that is a law made to bust organized crime an drug cartels and no hedge fund has ever been charged under the rico act. some people may be surprised by that fact, but prosecutors and the fbi reportedly facing a 5- year legal deadline july the big securities fraud charges against billionaire stephen cohen. has not been accused of wrongdoing sac's said that they are acting perfectly throughout. not cooperating with the federa governmen

investment manager handles the money. you can't invest in individual stocks or bonds or make frequent changes to the investments you choose. some financial advisers say custodial accounts in your child's name may be a better option. >> what that allows is better options and diversified and can reduce volatility. you can take the account and transfer to 529 plan and take advantage of some of the financial aid advantages that a 529 plan has. >> reporter: while the custodial account has a high impact on financial aid eligibility. by transferring it to a 529 plan it becomes a parental asset with much more financial aid treatment. time for the miller's to use several options to invest in their children's education. >> which 529 plans are at the head of the class? morning star recently analyzed dozens of options. here now with the best and the brightest, laura lutten, director of research. before we get into the list of the ones that are the best ones to invest in and not so good to invest in, let's start with the question of ho