i think with jeff skilling it was all about power. jeff wanted enron to be the best and the brightest and the most successful company in the world. he wanted to-- he always talked about goldman sachs. he wanted it to be another goldman success, and he was the engineer of transforming the company from basically a commodities company air, transportation company, into basically a trading company. that is where i think they started to go wrong. those are the things that i think drove-- i don't know because i just don't know what drove them. it's puzzling to me. but i think that those are the types of things that probably had an impact. >> rose: did you have conversations with him after the fact, after this blew up? >> no, no conversations. >> rose: was it a legal thing or simply not interest? >> i had aeate deal of interest but it was legal, it was legal. and once it became a criminal thing, then you had to be very careful who you talked to, and they were more concerned about protecting themselves than anything else. >> rose: and the lesso

some breaking news with an update on the jeff skilling interviews. what are you seeing?ed last hour, the former ceo could be out of prison by 2017 under the sentencing deal. that would be roughly ten years early. he will no longer be permitted. skilling's long term defense attorney also talking about the closure. although the recommended sentence would be more than double any defendant, jeff will at least have the chance to get back a meaningful part of his life. and with good behavior, he could be out by 2017. back to you. >> scott, thank you very much. big news there on skilling. next up, do you want a ferrari? who doesn't. good luck finding one, even if you can afford it. >> maybe you need some caffeine. >> the earnings squad is coming up with herb greenburg. >> and also, why aber com bee and fitch's shrinking customer base is answering hate mail today. are you still sleeping? just 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. (announ

remember back in 2006 when this trial took place of enron's jeff skilling and the late ken lay, the woundst com bubble were still fresh, the judge in houston sentenced him to 28 years and four months in prison and the harsh sentence, one of the harshest for white-collar crime. a court ruled that that sentence was too harsh and he should get more like 15 years and the resentencing has been on hold because skilling had a number of appeals they had to work through including going to the u.s. supreme court which sent it back to the court of appeals which still upheld the conviction. skilling upons some freed am on. he's 59 years old. the government wants to be done with this case and there's some $40 million in restitution that skilling owed to the victims and that was all tied up. the money could be distributed and skilling gets his freedom and the 19 convictions for fraud, conspiracy and insider trading stand, skilling can't appeal to them anymore. >> you know, scott, it was amazing and what was surprising to hear this decision, we've seen before other convicted, high-profile ceos not having

jeff skilling was not the chairman of enron. >> i don't mean to jump in on you.nk you very much for your comments. we do have breaking news now. what are you hearing? >> notified investors that it is extending the investors who pulled their money can get all of their money invested back by the end of the year. urging investors to try to stick with them even for one more quarter. potentially against steve cohen. no charges against steve. >> gangsters, red necks and cheer leaders. >> later on, the gold rush is over. market watcher says thathe bubble has burst but there is a new one forming. we will talk about both coming up. les schwab, we've committed to setting the bar high by going low. tdd# 1-800-345-2550 like offering schwab etfs tdd# 1-800-345-2550 with the lowest operating expenses tdd# 1-800-345-2550 in their respective lipper categories -- tdd# 1-800-345-2550 lower than ishares tdd# 1-800-345-2550 and vanguard. tdd# 1-800-345-2550 and with all our etfs commission-free tdd# 1-800-345-2550 when traded online in a schwab account, tdd# 1-800-345-2550 it leaves

jeff skilling may be back in front of the judge who sentenced him.lic appearance since 2006. but one step closer now to freedom which will come around 2017. >> thank you very much. now for a quick market flash. >> tiler, bill akman of per shing square. here is what he says. it's one of the best businesses in the world as it deals with important parts of your body that you care about like your face and baby's bottom. he goes on to say that he thinks it's well positioned. proctor and gamble in a town he calls first class. >> thank you very much. >> you were talking about art. we're going to come back and talk more about the art auction. >> a lot more wall power coming up. >> fantastic. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one mo

. >>> and jeff skilling could be a free man sooner rather than later.will be resentenced next month after striking a deal wednesday to shorten his current prison term from the current 24 years to between 17 and 14 years. skilling has agreed to drop the appeal of his 2006 conviction on 19 counts of securities fraud, conspiracy, insider trading and lie to go prosecutors. skilling has been in prison since december 2006 with good behavior. we reckon he might be released in 2018. >>> an italian appeals court has upheld the conviction of is sylvia berlusconi. this raises the possibility he could be banned from holding public office. so we're asking today, is the party finally over for berlusconi or can he once again make a come back? keep your responses coming here on "worldwide exchange." e-mail us, worldwide@cnbc.com or tweet, @cnbcwex or direct to me, @rosswestgate. >>> reforming the mortgage market remainses one of the few unfinished pieces of business. we'll talk to a former executive at lending giant fannie mae, next. we went out and asked people a simp

former enron jeff skilling could see his sentence reduced by a decade and if proofed it will.s convicted in 2006 on 19 of 28 criminal counts of securities and wire fraud. >> "the new york times" after more than 26 years on the sidelines, long time manager manchester united air alex ferguson will retire. he built manu into one of the renounced clubs. there are no words. americans don't -- most americans don't understand what sir alex has accomplished. we as liverpool fans hate him. >> hate him. >> i have called him darth vader for years. he is simply the greatest coach has ever been. he is the secretariat of coaches. no comparison. >> i was thinking is he like lombardi? is he greater? a living legend. incredible decade after decade and miserable complete domination of the entire pinnacle -- >> americans get involved in soccer. in britain they think it's easy and it's the toughest sport to figure out. you talk to the red sox owners now wringing their hands it's maddening. sir alex over 20 years he took no crap off of anybody. if you played for him, you were playing for manu and

skilled workers. judiciary committee member jeff sessions, a republican, voted against the measure. he is worried authorizing millions of undocumented workers to take jobs legally will push down already stagnant wages. that hurts low skilled americans, he says, the most vulnerable people in this workforce right now. as he put it, quote, my republican colleagues seem owe bolivia us to the free marketment. ana, are you in favor of immigration reform. you have to tell me, how divided is your party on this issue right now? how do the factions stack up here? >> you know, christine, i think that the division is highly exaggerated. i don't see the level of division that i saw in 2007 or that i have seen in the past. most republicans agree that what we have right now is de facto amnesty, that it is a broken system, and that it needs to be resolved. there is some differences on how to resolve that, but there is almost consensus on the first part. and i would tell you that the republicans that matter, the ones that draft policy, the ones that shape the agenda, are very committed to moving some

jeff i can xil jeffrey skilling, the first big debt blowup, get out of prison early in a deal made withent, 10 of his 24-year prison sentence could be locked off. the justice department says the deal will expedite the $40 million going to victims in rest constitution. >>> we're learning new information tonight about what happened in cleveland. and this, perhaps, a crucial development. we're learning that amanda berry right before she made that telephone call, she decided to call and try to get her release, to try to escape, get help. the other two women, though, when she fled the house to go make that call did not choose to come with her. cnn is learning this from a law enforcement source close to the investigation and it comes on the heels of other reporting that the women were kept perhaps in chains. they were kept really chained together down stairs and then eventually allowed to roam more freely around the house, perhaps on the second floor. this opens up a lot of questions. "outfront" tonight, a clinical psychologist. let me ask you. i've been trying to understand what happened. le

services it's a charge they charge skilling with called on his service it's a it was a charge that were on its face really is unconstitutional this is an analysis jeff to make sure this yes this is a man who was an absolute criminal he stole from his employees he stole from the public he lied to the government he should be in prison a long time as it is he's going to have ten years taken off of his twenty four year prison sentence but what it is is you have the prosecution in this case that is so terrified that this honest services prosecution that they use all the time it's it why it's called a lazy prosecutor's tool tom what it is it's much like ricoh the prosecutor who doesn't really want to do the job thoroughly they'll generally fall back on his services we saw with duke cunningham we saw with don siegel me. and we saw with george ryan the past governor of illinois we saw with jack avram of so rather than focusing on a charge like pure fraud pure criminal cases that is built around very simple concepts they use this on a services when they feel like they really don't want to do their job so the u.s. supreme court looked at on a services and thi

skills to really compete. >> are you still committing new money to stocks at this point or do you worry that they have run too far to be putting in new money? we talked to jeffho said he would put in new money at this point. >> the answer is yes. yes i'm putting in new money and yes i'm very concerned. i think to your previous question, it's a combination also. earnings are not great. they're fine. everything is okay. i think we all know that without the feds massive liquidity, i couldn't venture a guess where they would be but not within thousands of points of 15,000. as we have said for years, enjoy liquidity when it's here. when the feds begins to turn off that spigot, we're in deeper trouble. >> if the fed turns off the spigot, it's because the economy has taken off at that point. wouldn't that be what swooped in and offered support at that point? >> the fed is working on this wealth effect and clearly it's working. it's been working for five years. if things get more stable, employment has not been good. it's not going to be good. i know that the fed is targeting the mid sixs. if dow sees 15,500 or 16, they will taper off liquidity. the dollar strength