. >> we'll talk more we'll talk to jay clayton. former s.e.c. chair in the next hour that's a new tie >> you haven't seen that tie i was thinking it was more of a fall tie it is a brown color. >> it is july. >> i should start to liven it u in the summer with more color. fashion police the night before call >> text. >> take pictures of the ties >> don't call? text >> tell me hethe colors people accepsend email and say s sent you an email with the follow-up text >> you don't have the email sound. i can get an email and not know for a while. >> now it is backwards email and text message and the what's app >> it is where we are headed as a society. i blame social media almost entirely. >>> president biden will travel to saudi arabia later this week. he defended the trip in the o op-ed. saying i'll aim to strengthen the strategic partnership going forward that's based on mutual interests and responsibilities while also holding true to fundamental american values. looking to end the neighboring war in yemen president biden announced a halt to the oper

but they said that, you said you wanted there was one thing where you suggested you would smack jay claytone and what was the other one? the video of clayton, and also, that you mentioned, a witness for the sec. obviously, these are, you were kidding around, right? just get that off the table? >> yeah it was a mock cross cross-examination of jay clayton for example,, charlie, liz, i had a time in the my cousin vinnie movie the joe says are you on drugs? charlie: i remember that. >> and i respond to the judge pretending, no, judge, i don't use drugs but maybe i'll need them soon. they claim that i promoted drug use. they literally argued that nonsense and the judge rejected all of this. charlie: well they are losing the case. this is by the way, liz threaten s to kill me everyday and i'm still here right? liz: which i'm doing something wrong, john, i don't know. you've gotta help me. charlie: it's not working whatever is going on but what are the next steps in this case? we have been going around and around. it obviously has huge implications. if ripple wins and they can say they're not a re

chairman and cnbc contributor jay clayton, apollo's lead independent director jay, we've talked aboutwed to happen, and doesn't it just undermine the credibility of congress and our elected officials? >> yes, andrew look, this is a recurring issue. it comes in the spring we talked about it there were proposals to address it, but really nothing has changed in the last decade with regard to the stock act. there's a general sense there's a need for improvement here. one of the problems is when the issue arises, the proposed solutions are very blunt, like an outright ban on stock holding or stock trading that's not practical or workable when you have spouses, people who have had careers and the like, but there is a lot that we can learn from the executive branch restrictions, the private sector, the type of restrictions you would see cnbc have. the room for improvement here is large, but it doesn't involve an outright ban on stock trade. >> someone has said to me, why hasn't congress moved on it? why hasn't congress moved on it? look who's in charge of the house, right >> look. i think th

who was essentially part of the decision making on what is a security and what isn't during the jay claytonght the case ultimately, the enforcement division brought the case. hindman wasn't part of that but he gave a famous speech where he said what was a security, what wasn't. he said bitcoin wasn't a security. actually said ethereum wasn't a security. everything else was, subject to the sec the documents surrounding his decision making is key to this case. sec wants to keep it under wraps, now under gary gensler still plowing ahead with this case because he wants to regulate crypto more vigorously. the judge recently said all those documents about involving hindman's thought process is, can go to xrp and ripple. they can look at that. this is why it is big. if you ever did a freedom of information act from the sec what do they say? pound sand. cheryl: good luck, buddy. >> they don't, they never want, they never want the sausage making process at the sec disclosed. so of course they wanted to say the same here. they had some, they have always gotten decent privileged grounds. this judge, j

very different than the jay clayton administration he's not been the prince of crypto as everyone was -- what are you saying why then if he understands it what's the rationale. >> you're the political analyst. i'm the going through to the s.e.c. right now. >> i try to stick -- i get that a lot. don't talk about politics when you are talking about business news okay don't talk about the government, the fed, congress, build back better how do you possibly talk about anything without looking at when's happening behind the scenes >> listen. i think i was clear. i'm frustrated as can be with the pace of new regulation and clarity from the s.e.c. we have been on record it's anti-innovation we're opening a bahamas office because it is complicated to get stuff done here. we have been asking for clarity. the bill that senator gill brand put through is good. i think the industry would have gotten behindmost of that. didn't go anywhere of course. >> what happens if worst-case scenario and might be not the worst but what happens to -- i don't know take your pick of all the other -- the whole univ

clayton and walnut creek and in concord. we have coal irvin on the mound for the good guys tonight. he's a lefty . he's with the a's and they're playing host to the blue jays early 607 1st pitch 66 degrees. we've got fireworks after the game, and the fans actually get to go onto the field. so if you're one of those fans, i hope you are enjoy. tonight fifties and sixties, a mild night with a bit of a southwest breeze. and here is your extended forecast pleasant conditions existing each day and then a little bit warmer by the end of the work week and pretty summary by the weekend enjoy and have a safe fourth of july. roberta thank you say 52 here. have you heard fireworks going off at night already leading up to the fourth of july when you join us on the nine. greg is nodding head. i think dangers ol fireworks and how you can stay safe. through the fourth. plus a unique solution to mowing. - [announcer] the more we learn about covid-19 the more questions and worries we have. calhope can help with free covid-19 emotional support. call 833-317-4673 or live chat at calhope.org today. alright. shortest roost fry drives next. ♪ worth it. ♪ my $4.00 roost fries wi