i want to bring in keri geiger. you have been busy lately. keri: i have.: tell us exactly what they found. bank got a tip off from the russian central bank that they may have had some problematic accounts. so they took a really close look at the russian operations and they uncovered a sickly in two parts, a $6 billion mirror trade. that's where basically you can in moscow inbuy rubles and it's instantaneously in dollars and ends up in london. it's a great way to move money in and out of a country. they are totally legal. mutual funds and large investors use them. to skirtbe used capital controls or move money without being detected. secondly they found an billion in trades which were not mirror trades but look like they were largely one-way trades that were also part of this suspicious group. with theseing issue trades is they may not have been scrutinized as carefully as they should have been. they: so in response to prior finding -- they shut their moscow operations. keri: they significantly wound down. they do have some presence there. they have a progr

keri geiger is with us for the entire hour. keri: there is a long list to of course. but the really big kind of wow settlement that we had this year of course was five banks leading guilty for deluggede raise foreign exchange markets. they are going to seek out enforcement on wall street going forward. it was unprecedented that you had that many banks pleading guilty to criminal charges. and of course the fines. they were not insignificant. those banks pay close to $6 billion just here in the u.s. for that erik: the crimes committed this year. know, right? we know that regulators are punishing banks for crimes allegedly committed, now in the post-crisis period, but we don't know what they are doing today. i won't sea i can't wait to find out. i hope they are not doing bad things. we have not seen that there has been a cultural change on wall street because much of what went on with libor and foreign exchange and manipulation and rigging of other benchmarks took place only in the last few years. keri: history is an indicator of the future, then there are still crimes g

keri: what does that mean?ntastic as three years ago. the reality is that high yield fundamentals continue to be very stable outside of commodity and energy sectors. we have growth. profitability perspective, third quarter of this year was about 14%, the best quarter for profitability since the third quarter of 2010 for high-yield names outside of commodities and energy. so stable fundamentals, and you are earning 9%, starting to look comparable with what you can learn in equities, frankly. high-yield tends to do well in low growth markets, even better than equities, and we are in a low growth market. finally, right now the average price of high-yield if you like a high-yield index is just under $.88 on the dollar. that historically has been a good point to get in. let's say it continues to experience further weakness and goes down several more points, into the low 80's. well, a year from now if you go through that experience, your total loss will be around one point. because that's the power of yield in a 9% m

keri: they can be particularly exhausting.that many years ago when i was working in investment ,anking, if i read my e-mails which they were a lot of emergency or urgent e-mails, it set me to be stressed out for the entire day. learnedthing that i through the years that can help cope with stress that touches on a lot of things that you said is how you frame when problems,. as a puzzle them and see how you can solve them, it is a lot easier to deal with daily stress that comes up that if it is all my god, it is a problem and you get overwhelmed. framing is really important and it comes into everything you do in your daily work and also goes into e-mail. >> what resonated with me was the same thing i pulled out of the new yorker profile of the president is that you just wear the same thing every day. thinking about what i wear on tv has been one of the egg's stressors. when i was a writer, i just wore jeans everyday. kong, asianng markets could be a cliffhanger in 2016. predictions for the new year, that is coming up. ♪ david: w

keri geiger, congratulations. david: just great. a thank you, they should send you the wu tang album. , what you are reading on bloomberg today. ♪ stephanie:stephanie: it is time to look at the stories trending from bloomberg news. here's a look at the top five. we are talking energy prices exciting, bond maturities been extended. morgan stanley cutting 5% of the equity trading staff and hedge funds are seeing more go down than the previous quarter. cory johnson, what are you liking in the terminals? corey: my favorite story is about the ceo of whole foods. cumulative he is the -- he is the queue leading 338 days of vacation. he has a saved up and he sets the tone for his company and this guy does not take time off. because this money is owed to him, they had to put it into the proxy savings for the company. a wonderful story on the terminal today. andrews mila and went there and found a bunch of come these were the ceos are owed a lot of time off but they have not taken up because that is the way they do it. david: the companies i

keri: they're going to outline the charges. they're going to go step-by-step and go through what he did. and he crafted this web of lies -- withit with federal several hedge funds he was funding. he like to his investors about several things. including their worth, how much money they had, whether they were compliant with regulations. he also took money from a firm he founded in 2011, another pharmaceutical firm, and he took that to pay off some of these hedge fund investors that were basically suing him or trying to get their money back from huge losses. drew armstrong, i want to bring you in. this has nothing to do with -- pharmaceuticals or how he runs that company or the price increase? it has nothing to do with ing, but that is why he has become known over the past months. everything from the price increase to buying a rap album. and fighting with his critics on twitter and read it -- and r eddit. i don't think we will know if they moved it now because of the notoriety he was building? that is a question that is probably o

keri peterson from lennox ox hill hospital. you have a beautiful 10-month-old baby boy, little jack. >> i can relate to this. we did wait longer and focused we're loving it. ernie: what a sweet picture with his dad. such a thrill in life. we've been through it a couple of times as well. let me ask you this: what do you do? how do you start to plan to have a child in your 30s or 40s? >> as a woman, the first thing you need to do is get your body ready. quick smoking if you smoke. cut back on your alcohol. keep your body weight down. and go to your doctor to get a physical to make sure you're up to date with your vaccines. be proactive. that means starting a multivitamin, a prenatal prep. it thins the mucous and allows easily. the next thing to do is track your ovulation. there's a small window that you're considered to be fertile and conceive. you want to cycle when that is. ernie: these are all good steps. we know there are challenges. emotional challenges as well. there's a plus and a minus. >> when you wait longer in life, yo

keri: i have paid an enormous amount of fines because of infractions.nks in general wall street have been paying fines and pleading guilty. you have to wonder what happens to repeat offenders? >> so far, nothing has been happening. i keep coming back to the size issue. aside from the fact that the honor system doesn't work, are these banks to big that they are is ittored herbal? impossible to stay on top of trillions of dollars moving in a day of -- moving in and out? ini: these trades took place 2012-2015. these are not old. david: they are pre-sanction trades? what we understand, and they did not happen during the sanctions but that is something they are looking closely at. david: keri geiger, thank you for being with us. morning of ans economic bubble. is he right or is the bubble phenomenon overblown? ♪ david: welcome back to the virgo. many have been saying that we are in a bubble. ritholtz,ing to barry bowls are for losers. in his latest piece, he says that we are now in the latest year of incorrect bubble calls. -- fallen analysts who missed the

thank you so much, carry -- keri.rging markets of taken a beating as of late thanks to a potential rate hike by the fed. the prospect of stimulus i have help them pass, we will dive deeper into that. janet yellen takes to the podium tomorrow and thursday where the market watching for a hint of lift off. how will this shape expectations? tune in tomorrow, we will be taking you to the speech live from the economic plug in washington. ♪ betty: good afternoon, it is time for the bloomberg is this splash and the biggest business stories in the news right now. dealmaking is keeping u.s. sales zooming towards a record pace in and industry sales are expected to exceed $18 million annual paid for a record third straight month. a different story at volkswagen, the omissions scandal appears to have put it ends in sales in the u.s.. dropping 25% in november, volkswagen has been offering large discounts on gasoline powered models, where the scandal broke back in september. can forget about owning a piece of jimmy john's for now. c

keri: he ran these hedge funds and hedge funds went bust. it talks about how these hedge funds became insolvent and he , anothernother company biotech company that specializes in pharmaceuticals. what he did without the permission of the company, and it is important to note the company is not under investigation, he took shares in cash from that company and used it to pay off his aggrieved hedge fund investors. basically taking money from one pot to pay off debt in another they put a lawsuit together and sued him in august in manhattan federal court outlining several specific transactions where he took money without permission. this in theave eastern district and the fcc releasing an indictment as well. sec releasing an indictment. keri: the sec case is interesting because, as it usually happens when you have fraud charges against a public company, some of them are public and some of them are private, you cannot be the ceo of a public company and have been convicted of securities fraud. that does change the dynamic and i think people are loo

she has worked with keri russell and amanda secrete. she did not come from hollywood movie or tv. light how to be able to protect yourself in the celebrity. >> i simultaneously go from here. my head is away. i follow through. >> self-defense for women. she has taught me the real self-defense is enjoying life you have created and now living in constant fear. >> i asked comeau what is the root of all of this? she was in a domestic abuse relationship herself when she was 19 years old. it was very messy and she ended up having to go to court. that whole experience left her frazzled. >> i was told, basically compromising the woman that i wanted to be. and i said i'm not going to compromise the woman that i want to be. i will find a way that will allow so defense to enhance it. >> she created the method custom-made for you. >> teaching self-defense. worth protecting. and so when i started to modify techniques and concepts myself i went to fitness and empowerment. >> you show me how to do a stiletto hammerfest. bill: do they have testimony as a people who have done it? that's what they c

stick that landing, keri strug, nice.ow les you think i'm just making fun of someone tripping, which i am, as it turns out, lindsey graham's prat fall was just a visual metaphor for the night of slipups that lay ahead. listen what happened when black eeyore or bleeyore, ben carson-- (applause) started talking about the militant palestinian terror group hamas. >> split between fatah and hamas, hummus tun ems the gaza strip-- tinls the gaza strip. >> larry: i'm sorry, is he saying hummus instead of hamas? this guy doesn't know anything about hummus. that sounds like the worst kind of hummus possible. i mean what is next, will ben carson start referring to isis as italian ices? or boko haram as cocoa parmesan? cocoa parmesan sounds pretty delicious. let me tell you something, if ben carson invents cocoa parmesan, he just might become a viable candidate for president. yeah. actually, why do we have to wait for him to invent this ground-breaking drink. i'm sure i have some hot chocolate and fresh parm sitting right around here

gatherings, there are treats but here with healthy alternatives, nutritionist and registered dietician keri glassman who is the founder of nutritious life as well as being a contributor to women's health magazine. nice to meet you. >> nice to meet you. happy holidays. >> same to you, my dear. okay, we do tend to splurge, you know? this won't hurt that much. but that's not alwaysing the right thought process, right? >> no, because it does hurt. [laughter] now, listen, i'm all about indulging. i'm definitely not one of those nutritionists who says, you know, you can never, ever indulge. i certainly like to indulge myself, and even at women's health magazine, we encourage indulging. but we want people to indulge in a conscious matter. and throughout this holiday season, you have to be mindful of when you do indulge. the problem with the holidays is that people often just pick and, you know, they pick and they take a bite here, a bite there, and they have an extra drink here. they are versioned out -- stressed out, lack of sheep. that can be super damaging. so if you just keep a few things in c

meteorologist keri hall at 11:00. >> we're looking over here, bay bridge toll plaza, across the span,bay. smooth driving south of there. no major problems. slow through hayward and westbound 580. >>> join us for our 11:00 newscast. kris and i will see you then. >>> it's thirsty thursday. you want to check out what we've got for you in bobbie's buzz. >> bobbie thomas has the travel goodies to keep you comfortable and stress free. >> she surely do. >> let's get on board. on the airplane. >> oh, we're on the plane. >> these are some of my best secrets. i never can find my bag. these palm i.d.s. this is just my favorite color of course. they snap on to your luggage. they also look great on wine glasses to remember which one is yours. >> so smart. >> they can't be very costly, right? >> no, they're like $5. two different colors at bed bath and beyond. but pom-cheese.com you can find the best colors. and alex is going to model. what i love about these, they were so popular for women, they now make for men and kids. you don't have to debate, do i bring my tennis shoes, do i not bring my tenn

and keri has been mentioning, there's a freeze warning expected to go into affect later today here in the bay area, and mostly the valley areas, not san francisco, but some of the valley areas a. freeze warning for your christmas night here in the bay area expected sometime later today. reporting live here on top of the summit, bob redell, "today in the bay." >> bob should wear his hat that he wore at the north pole. >> thank you, bob. >> of course you can track the possibility of bay area snowflakes and your full holiday forecast, just download our nbc bay area app and click on the weather tab. >>> two people dead after a horrific head on crash in pacifica. a wrong-way driver slam into the another car and one of the cars caught on fire. this happened just before 3:00 this morning on highway 1 year paloma avenue and park sharp road. not far from skyline college. you can see debris scattered all over the roadway. right now all lanes of northbound one in that area shut down and there's no word when the roadway will re-open. >>> a livermore woman suffered burns to her face when flames ig

keri peterson from lenox hill. i've been wasting time and effort giving the appearance of being happy and outgoing and bubbly. >> doesn't make a difference. this was an enormous study following a million women over a long period of time. they interviewed 700,000 of them and found that one in six were unhappy. when they compared the death rates of the unhappy women to the happy women, there was absolutely no difference in mortality. what they did find is that if a woman was sick, she was much more likely to be unhealthy. unhealthiness doesn't make you sick, but -- sickness makes you unhappy. alison: this is women. steve: we always die 20 years earlier. maybe that's part of the story. >> men die sooner. steve: that's what i'm saying. were you surprised? there are several studies that show being happy leads to longevity. it doesn't make a difference. mood doesn't impact longevity. steve: don't feel bad if you're naturally grumpy. you're not shortening your life. despite the dangers of cheerleading, it is one of the sa

keri: i think it is calling david.a big thank you to brendan greeley. thank you for filling in for stephanie today. still to come, a take on optimal asset allocations. ♪ >> we're just a little bit more in 30 minutes from the opening bell here in new york. ik: good morning, everybody. thankful to be here. happy new year to be. jpmorgan's global head of consultants, megan. welcome. good to have you. you got a new job. congratulations. what is it all about? >> we're working with the consultant section of the market. lot of see and is a product innovation coming from our consultant. also, you think about the future of the market and a lot of the chief investment activity and foundations looking for investments advice. it is something we'll get to later in the show. huge role. play a it is a huge part of j.p. morgan asset management. >> for the first word, here is vonnie quinn. vonnie: thank you. boko haram has killed at least 60 people today. the extremists attacked people with rocket grenades and suicide bombings. hurt. w

keri peterson from lenox hill hospital. learns lying everything we've learned, it doesn't take much. it could have been decades ago. the younger, the worse off it seems you are. >> that's correct. this was the first study of its kind that looked at amateur athletes. there were brain biopsies done of 66 people who had played contact sports growing up. 198 people who did not participate in sports. 32 percent of the people that participated in sports developed traumatic brain injury, degenerative brain disease or chronic traumatic encephalopathy. of the biopsies done, zero had signs of the development of the syndrome. steve: if they didn't play. >> if they didn't play. how it manifests itself while alive, it causes aggressive behavior, impulse control confusion and eventually dementia. the goal of the authors is not to say don't play sports. it's to play safe and protect. steve: this may cause debate. sense of direction. thank you. dari: that's not true. that's baloney. steve: this is the one thing nobody -- everyone fights on

michael is in for keri. >> once again, looking at the fog and low clouds and visibility reduced especially across parts of the north bay. we're finding the densest fog. across the rest of the bay. low clouds and foggy, at least until about 11:00. after that, sunshine. in fact, the south bay today will see more sunshine than we saw yesterday warming us back to 65 degrees and same deal for the-valley. mix of sun and clouds and in san francisco today, you'll get close to 60 degrees and mainly cloudy through the day. we'll talk more about a storm system headed our way for wednesday and thursday and then another one for this upcoming weekend. quite an active pattern. let's toss it over to mike. how active is it on those roads? >> active meaning there are cars out there. look at the bay bridge toll plaza and metering lights on and filled in all lanes off of the maze and the lanes moving and easy drive on thuproaches. we'll take you to san jose where we'll see the other slow traffic visible for our camera. 101 northbound up to 880. that stretch only. the rest of the silicon valley area is moving

>> but the democrats had one clear alternative, john keri, who ultimately got the nomination.t of our problem on the republican side is there is not one clear alternative to get behind. i'm for bush, but i can't say he's the only alternative. >> woodruff: what about the fact that these crowds that jonathan just described that trump is drawing they appeared to agree. there is a new poll out today from bloomberg news that was reported on that indicates there's a large percentage of voters who agree, republican voters who agree with what donald trump is saying about muslims? how is the party dealing with that? >> that's very troublesome, beyond troublesome. i have to say the only way you can beat a demagogue, which is what he is, is to have a strong message of leadership from someone else, whether the someone else is a republican alternative or the president of the united states. and so far, those voters are not hearing a strong enough message, strong enough, responsible message to sort of overshadow the strong demgojic message coming out of donald trump. >> and i think, also, th

i'm meteorologist keri hall. sit cool stepping out this morning.we're only in the upper 30s to lower 40s. and highs today will be a little below average but a lot of sunshine, still some breezy winds at times, gusts up to 30 miles an hour. and look for a high of only 56 degrees in san francisco. the peninsula as well as the south bay. in the east bay 57 degrees and in the north bay a slight chance of a shower moving in with a high of 56 degrees. >> thanks very much. too hot to handle. amazon puts some brakes on hover boards after a series of fire. >> plus on rossen reports, kids, car seats and a big mistake many parents make in the winter months. what you need to do. this is a really important story, but, first, this is "today" on nbc. man at toys"r"us, you can buy one get one 40% off all sorts of toys. even that life size stock boy action figure? nah, that's just steve. buy one get one 40% off power rangers, crayola, nerf™ modulus and more. toys"r"us. awwwesome! tcount on someone's kid mistaking me for santa. i'm so sorry. come on sweetie. it's ok

keri geiger joins me now with the details. what are they going to lose?to you at this point. -- >> it's difficult to say at this point. earlier this year, seven banks lose from illegalpled guilty and paid clo6 billion in fines. we had a big massive wall street settlement. now people are asking about individual prosecutions and regulatory sanctions against traders. this is the first movement we have seen on individuals involved in the foreign exchange rate rigging scandal. this is coming from swiss regulators. this is not like prosecutions for illegal activity. it is like the sec coming in here. alix: so they could not practice? >> we are looking at regulatory sanctions. i think the big question is between swiss, british, and u.s. banks did, who at the such bad behavior or is going to be charged with things for causing banks to pay so much money in fines? that is the big question. allourse, prosecutors in three countries are under pressure from public interest groups and lawmakers to push these. a little competitive between the three countries working on t

kery it's the source of most of the refugee crisis that europe is t suffering.he secretary kerry has launched a i diplomatic effort to tryn to gm the various countriese involved in this complicated war to come together around a scheme that will plot a transition for assad to leave. this has been a long standing desire to have assad leave, have a diplomatic resolution, get a b new government, and focus everyone's attention on attacking isil. a lot ofgett thein arab countri turkey are more interested in fighting assad and getti intingd out. we had the russian intervention there, which is shocking and noe has furtherdi complicated the situation. russia has always had a base onf the med terrainian coast. start they brought in massive air power, ground defense, troops.li they saw assad starting to wobble. mostly the islamic extremist groups are the ones that have been gaining because once again we have been very minimalist in the support we've been willing w to provide in theak people fighting assad. the question is whether russia, in the wake of thee attackwakes people, the russian jet b

kery says two are in critical condition and three in fair condition.hock, trauma, stress. all of the words you can think of. i can't think of anything worse than having a loved one in a room, trapped with active shooters and there is no way out. auto of the family members -- all of the family members, of course, are struggling in their own way, their own method of dealing with the very difficult circumstances they face. >> hundreds of p people who worked at the inland regional center complex where the shooting happened ended up barricaded themselves in offices for hours while the rampage raged on. once it was safe for people to leave, the survivors were shuttled to a nearby community center. people waiting there say loved ones were able to briefly call and text them during the chaos oh, of the shooting. >> she was whispering and said they're in a room locked up because there were shooters and she thinks they were in another building but wasn't positive. she was going to turn off the lights and then she had to go because i don't think they wanted to tal

our own keri geiger joins us now. what is the scope of the project?basically, a follow-on of several other now closed and settled investigations and active investigations the doj has into what traders are doing on chat rooms on her desk. basically, are they sharing client information with each other, which could be, as you know, colluding to fix prices which is an antitrust violation. now the whole scope of how this investigation started goes back to many of these other investigations they started with fx and interest rates. this covers a $9 trillion market. it is a pretty big product group are looking up. and libor and fx no one to this one. i was saying, peace to defend antitrust cases in the 1980's, but it was hard to prove unless someone wrote a memo. now in the world of the internet -- >> these chat rooms are basically amazing tools for prosecutors. they can go back and mine through the very easy to find evidence if there talking about client words and colluding to fix prices. thanks, about 2014, in the middle of the fx investigation, which is ch

. >> keri, that is really the point. right?nse of innovation and competition increasing prices because some other company is coming in and competing with martin shkreli. this is literally a monopoly. i think daisy, you made the point this is a monopoly. >> yeah, absolutely. because it is a neglected disease, he would probably have a monopoly of at least five years, maybe even longer. you could have another company as is happening with the aids drug say we'll do it for a lot less so he would just have monopoly on this price. >> while this is not a part of what shkreli's being indicted for, there is the overall picture of somebody who's milking profits really off of patients who are poor in order to finance at least what appears to be a lot of debt being built up in other businesses. >> that's definitely what happened with his previous drug which is just to make clear is not under investigation at this time. it is just shkreli himself for his actions at that company. but that's really where you get the controversy in this, is whe

. >>> i'm meteorologist keri hall. no record warmth for the bay area but record rain.see this off an on, the moisture stream in. a look at all of the microclimates now. the roads are wet and we have low clouds, area of light drizzle. as we head through the day, heavier rain will be moving in in the afternoon and evening hours. we'll so this tonight and into the start of the day tomorrow with chilly temperatures by christmas. t's your latest forecast. >> all right, dylan. thanks. >>> coming up, the boy skoutd leader who says his troop helped save his life while they encountered a bear on their hike. >> with christmas a days away, a surprising culprit for putting millions of kids is "today" on nbc. >>> coming up, what you need know to i'm billy, and i quit smoking with chantix. i don't know that i can put into words how happy i was when i quit. it's like losing some baggage, i don't have to carry it around with me anymore. chantix made it possible for me to quit smoking. along with support, chantix (varenicline) is proven to help people quit smoking. chantix definitely h