citadel's ken griffin, he is suing the irs over the unlawful disclosure of his tacks.orninging ken griffin's lawsuit claims the irs and treasury illegally disclosed his tax returns and failed to safeguard taxpayer data the suit stems from a secret irs files, those used tax returns from an anonymous source to expose the low taxes paid by billionaires griffin saying the irs willfully fail failed to establish adequate safeguards for the data and unlawfully disclosed those materials to propublica. griffin earned roughly $1.7 billion a year between 2013 and 2018 and paid an average tax rate of over 28%, that made him the second highest taxpayer in the country. the main focus on griffin was his campaign to defeat its state tax increase in illinois the irs inspector general and justice department had been investigating the potential irs leak for over a year, but house republicans are frustrated at the lack of reports or updates on those investigations. griffin saying in a statement, the irs deliberately stole the confidential tax returns of several hundred successful american

terms of how this plays out over time and what do you think the real goal is here in terms of what ken griffino ken, his goal is to make sure that taxpayer data is kept private and that this doesn't happen again again, he was put in a fairly flattering light in this article in that he had an effective tax rate of over 28%, which you compare to bezos, soros and others was much lower. so his point is i'm standing up for the americans so this doesn't happen again as to how it plays out in court and then how you prove this leak, how you find out the source, i mean, again, justice is trying to do this themselves, or at least they say they are. we haven't got jenny updates we don't know how far they've gotten there haven't been any charges or justice found anything about the leaks. could have been a contractor or somebody had a computer that was left on and somebody accessed. >> have we heard anything from the irs about changing processes? for example, it seems crazy to me that somehow anybody could walk out of the building -- somebody could walk out of the building not with just one, two tax return

united states, no law says he should, has to do that, but we've seen some lament out of likes of ken griffinonaire, who had qualms with the irs, all of sudden "propublica," big online, someone released all of griffin's tax returns. they're exposed. happened to elon musk. happened to jeff bezos, happened to a host of others. there is a pattern here. is it the right thing to do or even legal to do? andrew mccarthy, fox news contributor. no mat her how people feel about the former president, is this right to expose or to release his returns? >> no, of course it's not, neil and you know, i'm glad that you mentioned him. i usually, myself try to take him out of it because he is such a lightning rod but the fact is if they can do it to donald trump if they can do it to elon musk, if they can do it to some other people you just mentioned to, why would average americans think it can't be done to them? it used to be that what the irs and the committees in congress that have jurisdiction to deal with tax return information, their understanding was to the extent that congress needed tax return informat

right now. >> cheryl: who moved to florida along with all of citadel. >> charlie: but my point is ken griffin goes to the elizabeth warren and the democrat party. i'm not saying that's the reason just sometimes confluence does not equal concurrence but sometimes it does. >> cheryl: charlie, thank you. very good stuff. well closing bell will ring we have got seven whole minutes to go. talk about a decision. dow has had quite a day very volatile day, 98 times we've seen the dow cross the line, s&p 500 is 62 times and markets overall, we have been in the red repeatedly, but as we move into the close, we've only got the dow down now about a little more than seven points and at one point the dow was up 177. we were down 92 the highs and the lows for the dow so we'll keep on the markets for you. also there's this story, interesting. warner brothers streaming service, hbo max is back on amazon prime video channels, after about a year-long dispute. last year, the two media giants could not reach a deal to extend distribution. so hbo max was kicked off amazon prime service. that being said our closer

but like ken griffin, but people like ken griffin, who's this massive has who's this massive donor, hed he's switched a desantis and he's been attacking trump. so, yeah, he's funding, got he's got the funding, he's got the so he is now the the polling. so he is now the front runner. you know, if front runner. so, you know, if you the census you can look you want the census you can look probably i think he's probably yeah yeah i think he's great moved to great anyway we moved to telegraph things telegraph now and biden things we believe he knows how we don't believe he knows how old he's great was sleepy old is and he's great was sleepy uncle joe seeing he said you don't think i know how bleeping old i a frustrated joe biden snaps over age questions and a friend who's known him for decades said that his clutch has supped decades said that his clutch has slipped a little . his clutch has slipped a little. his clutch has supped slipped a little. his clutch has slipped a little. his clutch has slipped a little, which is very moderate way of saying that he's got dementia. he can't really an

but like ken griffin, but people like ken griffin, who's this massive has who's this massive donor, hed he's switched a desantis and he's been attacking trump. so, yeah, he's funding, got he's got the funding, he's got the so he is now the the polling. so he is now the front runner. you know, if front runner. so, you know, if you the census you can look you want the census you can look probably i think he's probably yeah yeah i think he's great moved to great anyway we moved to telegraph things telegraph now and biden things we believe he knows how we don't believe he knows how old he's great was sleepy old is and he's great was sleepy uncle joe seeing he said you don't think i know how bleeping old i a frustrated joe biden snaps over age questions and a friend who's known him for decades said that his clutch has supped decades said that his clutch has slipped a little . his clutch has slipped a little. his clutch has supped slipped a little. his clutch has slipped a little. his clutch has slipped a little, which is very moderate way of saying that he's got dementia. he can't really an

series we'll see if anyone else follows suit >> robert, thank you robert frank we talk a lot about ken griffin. that will do it for "squawk on the street." "techcheck" starts now >>> good wednesday morning welcome to "techcheck. today, more on what to do with big tech just hours away from another fomc meeting and potentially higher rates ahead and tesla on pace for its worst year ever as elon musk's twitter obligations come into question we'll discuss it don't miss the ceo of cloud flare talking about his outlook for cloud spend amid a big week of results and deals >> a volatile week for the nasdaq ahead of what many expect another fed rate hike this afternoon. mike santoli joins us with more. >> the nasdaq peaked 13 months ago, speculative tech peaked 9 months ago that entire period, tech growth, more speculative parts of the market have been on the down side the rate hikes and higher bond yields have not uniquely impacted technology. this is the tech specter spdr against the equal weights of consumer discretionary it's basically the same chart. the weight of consumer discretionary does not g

weather conditions the weekend there is no doubt that both people in corporations are moving, ask ken griffin moving entire operation or good part of it to miami. maria: very anton what about inflation we are waiting a minute away from november core pce index out just about a economists expecting increase, has inflation been an issue, for your investing? >> well, you know for sure an issue for our investing, because, it drives the fed the fed is you know -- actions rather than inflation i think potentially gone too far too fast putting owing brush fooish very aggressively perhaps too aggressively you are seeing housing impacted, the economy is indefinitely showing signs consumer is happy healthy the balance sheet restored jobs plentiful consumer one part keeping wrinkleing the fed i think their last mission here clearly other statistics are showing a slowing in the economy. maria: we are watching markets for reaction to the pce, number, that is out imminently expecting income up 3/10 of a percent, consumer income and spending also outs spending expected to be out 2/10 of a percent pce core ex

he was being called a three-time loser by ken griffin during the general election.y handpicked herschel walker for the job, but he has not been in georgia, he has not been on stage with walker, as there has been a shadow effect with donald trump not exactly helping candidates win. especially in georgia where he has a complicated relationship with the state republican party. if herschel walker does win, you had better believe donald trump will be sending out messages taking credit for it in that mate -- that might help reset the conversation for him. the news of late has not been good for trump, given this verdict in new york. haidi: the campaign spending aspect has been astronomical. do we see this often? the demographic changes that really turn a state like this? >> that is a big question. it is not often we see something like this. georgia has become a microcosm, but the money is important. raphael warnock had three times as much money than herschel walker and spent twice as much. that money goes a long way to getting people to turn out. that is what the story has