when we talk about -- and when we talk about companies like knight capital, what makes knight capitaluch a crappy stock right now? well, guess what, it's going to be stuck at $3 a share. liz: if that. >> forever. because, you know, when they brought in the new investors that recapitalized it after that trading glitch blew up the firm, the way they structured the deal is that there's a lot more stock outstanding. this is a convertible deal. and if you listen to the fox business network, we pointed it out. converse deals are not good. when the stocks started rising to $4, i said stay away from it, it's actually fairly priced at three, and it's a dead in the water stock. i'm, you know, i hate to say this, but citigroup is the same thing. massive delusion coming out of the -- dilution coming out of the financial crisis. in order to beat that dilution, you really have to kind of, basically, show much more earnings potential than they have right now, and they don't. and by the way, getting rid of the brokerage division -- which they had to do at the time, they needed to get capital, they ha

will the trading glitch that cost knight capital more than $400 million cost the ceo his job? crashly will be here in moments with exclusive information. it's back out to network's energy capital, that, of course, is houston, texas, where my partner in crime, melissa francis, is tearing up the town. melissa: it's day two at the george r. brown convention center in downtown houston. take a look at the beautiful view of the city behind us, it's another gorgeous day. the city of houston is booming. in some industries like oil and gas and the medical industry, they exceeded the number of jobs before the recession and revenue. we want to find out what's in the secret sauce. coming up, jack reiders the managing partner at northern mutual who manages money for the wealthiest residents. what advise he givings them and what they do with their money because they have a lot of it. back to you. lori: thank you. sometime for stocks, 15 minutes since the last update. nicole, stocks coming off earlier highs. what's the news there? >> interesting year to look at the markets, it's quadruple, o

the move comes after the big trading trouble at knight capital last month, when a systems update gone bad unleashed a flurry of bad trades. those bad trades lead to a loss of $440 million at knight. according to "the wall street journal," the agency has in recent days requested details from major broker-dealers and trading firms about internal controls on their computerized trading systems. one group of union members are back at work tonight, the regular nfl referees. a tentative agreement was announced today, just days after questionable calls by replacement refs on monday night football costing the green bay packers a win against seattle. nfl commissioner roger goodell apologized to fans, adding that everyone is ready to get the officials back to work. >> i think everybody wanted it-- the officials wanted to get back on, and i believe we would have reached an agreement this week, regardless of monday night or sunday night or the past weekend. >> tom: the tentative eight-year agreement puts an end to the lockout, which began in june. separately, an update on the dispute between natio

trading glitches that caused the bats exchange to withdraw its own stock offering, and knight capital's huge one-day loss last month. we've all seen the expensive consequences of high-speed, electronic trading. today, senators heard about the problems caused by computers trading huge amounts of stocks in milliseconds. >> i'm certain that exchanges can be profitable and can work well as a for-profit enterprise, but perhaps we need to understand really what their role should be going forward, who they should be serving, and by the way- what's the role of a broker-dealer? >> rorter: questio like that took on new urgency in may 2010, when u.s. markets lost $1 trillion in about ten minutes, then gained back most of the losses. automated trading software took the blame for what's now called the "flash crash." >> there's been shockingly little done regarding our capital markets since the flash crash which was in may of 2010; well over two years ago. and the possibility of another flash crash, if not the probability is quite high. >> reporter: today's hearing was meant to start the process of c

it especially after we've seen the flash crash of two thousand and ten and more recently the knight capital debacle well i'm in new york which means i had a chance to sit down with a real industry veteran oks a commodities and futures industry veteran he was the board member at the new york mercantile exchange and he.

it especially after we've seen the flash crash of two thousand and ten and more recently the knight capital debacle well i'm in new york which means i had a chance to sit down with a real industry veteran oks a commodities and futures industry veteran he was the board member at the new york mercantile exchange and he was president of the ny mex clearinghouse so he really has been intimately involved in monitoring these markets and seen more regulation has faltered he says in the case of high frequency trading the u.s. is way behind the curve late to the party if you will he also said with all the focus on washington dysfunction directed at congress that's taken a little bit of the attention away from the regulators who deserve some of that scrutiny too but you don't have to hear from me here's more from him. my real question to them was how could you be so far behind when you have other countries like canada and germany coming out being proactive and then you know the united states just you know months ago saying well we need to learn about this and then they just keep you know the big you

knight capital loss $440 million. very quickly. we had the facebook ipo.inting and now we are told that many flash crashes happen every single day. on a daily basis. >> let's start with may 10. how does a very global business go from $42 a share to one fraction of a penny back to $42 less than an hour. the answer is because the machines have gone wild and no one is in control. the answer is not to rule out categories of trading, it is to regulate them. many of the firms are nothing more than a re- creation of the old specialist system. they are electronic makers. they are conducive to the market functioning smoothly. they should be regulated. they should be cordoned off from everything else. gerri: you know how this works. the issue hundreds of buy and sell orders at the same time. it has nothing to do with the underlying stock. what competitors might be doing. >> why aren't there hundreds of different types of orders, gerri, when you want to buy, when you want to sell, when you want to buy or sell at a specific rice, a couple different variations of that.

with the flash crash in two thousand and ten and with the knight capital debacle just more recently and yet we haven't seen whole lot done in the way of regulations to rein this in or to address some of these problems and concerns yet we see this going on other places germany australia canada they have proposed or enacted regulations and now we see this from the e.u. so we sat down with the former president to find out why and what costs right lauren lyster in new york city that's coming up next thanks lauren but i'm going to do it now for the news from one of the stories we cover check out our you tube channel you tube dot com slash r.t. america or follow me on twitter liz wall will be right back here in a half hour. download the official application to choose your language stream quality and enjoy your favorites from alzheimer's t.v. is not required to watch on t.v. all you need is your mobile device to watch our scene any time. you won't come to the place fish for a swimming bird you can catch both of the premier mares like deviation show of the summer check out a whole family of rus

nicole, knight capital is still trying. what do we know at this point?ing closely with ibm. they hired ibm to review their software problems. you may remember on the morning of august 1. the people on this floor knew something was very wrong as the orders continued to come in. they say it was an undetected bug. an old software that released millions of unintended trades. that was obviously why they had to go outside for financing and get their feedback back on the ground. as ibm does more, they report back to the board. also they have hired knight capital planning to name a new chief officer. it is that 2.69. back to you. dennis: thank you very much, nicole. dan rutherford is coming up next on how much the chicago teacher strike us costing his state. cheryl: first, as we go to break, take a look at the winners on the nasdaq. green mountain. we will be right back. ♪ [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutraliz

jeffries came out and reported earnings better than expected thanks in part to the stake it in knight capitalit is up over 20% since then. jmp's analyst said if you take out the addition of knight, the company's earnings and revenue rose slightly shy of what his estimates were. given that we saw the strong run-up in the stock and given that maybe the earnings weren't quite as good and some people on the street expected, the stock is moving down today. >> very generous pricing on truvia. >>> huge conversation continues about gold. though sharon, relatively flat into the close. >> relatively flat at the close. viewers may think, didn't she say that yesterday? well, yes, i did say it yesterday. in fact i've said it the last six days because gold prices have closed right around $1,770 an ounce for the past six straight sessions. a lot of that has to do with traders seeing consolidation here after the big run-up we saw the end of last week. there is a little bit of a downbeat sentiment in the metals markets even though silver is up a little bit. fact we're looking at these industrial demand number

we've seen some indications, the facebook public offering, several others, knight capital, so we havee system against a significant failure. second, we're interested in the fairness of the operations, whether or not investors do have fair opportunities, all investors, and then i think we're interested obviously in the long-term capital formation, that's what markets exist for, we're seeing high frequency trading, stocks are being held literally for seconds so we're very interested in all those issues and anything else that the industry experts can tell us. >> senator do you think there's an appetite to actually fix this problem? >> i think there's definitely an appetite to understand the scope of these new technologies, and also an understanding that this is not something that's going to go away. this is a very dynamic situation, where new technologies are evolving very quickly, new techniques are being used, algorithms are changing almost on a weekly basis and if we don't shine a spotlight on this activity, we could find ourselves looking back, regretting the fact we didn't pay atten

. >> hello, want to bring you up to date with what's happening at knight capital.senting at the financial services conference this morning. and one little piece of news he's brought in for us, it is ibm, they announced that this morning. they were hired and brought in as of august 27th. this will probably take a couple of months for them to actually come to some kind of conclusion about what was going on. but the fact they chose ibm, highlight the idea this was a software problem. we've already known and i've done an interview with tommy already known that software was incorrectly installed. and essentially awakened dormant code that sent out erroneous orders. now ibm is figuring out how to improve the overall process. we'll hear more about it in the next few months. tommy says for the firm muted, that's the phrase they're using. they went up about five points as we got word there's not going to be any delay in the german constitutional court ruling. that's important, that doesn't mean it's not going to be problems. everyone believes the german court's going to uph

salvaged a one one draw at a time to toss them off but i got the black knight opened for this does just nine minutes in the last of capitalizing on a defense to slip up the balls now and was soon denied a double off to see if there is penalty study by the goalkeeper a bio on the no mob balled up went down to ten men from an off day we've also read. i didn't give up and said although leveled from a set piece with three minutes to go second bottom logo for today and today i am actually a straight. two points behind fellow strugglers frost. and in the last game on saturday i landed i came back to draw out of. my. stomach upset. because it turns out this is not. going to go. in the ninth tenth. and in the meantime russian side and g. have agreed to sign france midfielder left side of the on hundred the twenty seven year old is subjects' to a medical before joining the free spending druggist on the flop for a reported feat of more than six million dollars as three year deal could be on the cars for diarra who has also had spells at chelsea from dos north. well to fill the vacancy left by the our own ray allen have brought in michae

capitalism. richard wolffe, david barsamian, new knights press.applause] >> booktv has over 150,000 twitter followers. follow booktv on twitter to get publishing news, scheduling updates, author information and talk directly with authors during our life programming -- live programming. twitter.com/booktv. >> and here on booktv on c-span2 we continue our coverage of freedom fest 2012 from las vegas, a libertarian gathering that's held annually out in this city. and we've been talking with several different authors, and we want to introduce you to another author right now, and it's wendy mcelroy whose book is called "the art of being free: politics versus the every man and woman." wendy mcelroy, first of all, tell us about yourself. >> guest: well, i'm an individualist feminist, i am an -- [inaudible] i've been active in libertarianism for about 40 years now, since i was 15 years old. this book is my reaction to 9/11, basically. when 9/11 happened, i started to rethink everything about libertarianism and everything about my belief system. i wondered

knight in shining armor. well as i said in my answer to your first question this is largely smoke and mirrors because a lot of the capital from the european stability mechanism comes from the crisis states themselves so italy is putting in money to save it along which is obviously nonsense if however the funds runs out of money if there is some further crisis that is quite possible then all that the german parliament or all that the european stability mechanism used to do is to go back to the german parliament and asked for more money the court ruling today does not rule out that possibility it might be politically difficult to achieve a constitutionally it's perfectly possible the ruling today is simply said that any increases in the amount of capital foot into it must be approved by the parliament but as i'm sure your viewers understand perfectly well this whole problem is a problem of excessive state debt in other words excessive state spending and you cannot us solve a problem of excessive state spending by more state spending it's a simple one. mr john locke linda thank you very much the director of studies at the i

rape of the knights by guards in the georgian jail prosecutors want the prosecution off several sessions who have resigned over the outrage you go to school for points from the georgian capital. the group of activists tried to break through a police ring around one of the government buildings and people are demanding the arrest of the former interior minister he resigned after these shocking videos went public but many here say that's not enough they want all the officials responsible to be prosecuted in fact the shocking footage of the alleged torture and sexual abuse of georgian rates by the authorities is widely complete here that from guantanamo except maybe caus us terror suspects while here we're talking about ordinary georgian inmates that's why it's causing a huge wave of public anger on friday a group of journalists was allowed to enter the. present or one of the main ones in the country and spoke with some inmates and they say that they are still afraid that the abuse is going to continue even though president saakashvili has temporarily substituted the staff of all prisons across the country with police officers who they are team managed to speak with the man who

knights magazine, with me is tobey heeps. we call our pubblesation for -- publication for economic capitalism. actors know the fuel impact of their actions. it's about information empowering markets to foster a better world. a big part of clean capitalism is regulation. a healthy, sustainable environment is a prerequisite for long-term economic growth. we ask ourselves who is the greenest president in history? who put in place the policies capitalism depends on and thrives. america's forests, rivers, lakes and air have changed dramatically over the last two centuries as have environmental priorities. also do you judge a past president on intentions, results or a combination of both? and how do you weigh them? how do you measure the impact? david roberts of "grist" magazine told me when we discussed this project with him, there's something slightly arbitrary about the exercise. opinions will differ, that's why we decided to let the experts in environmental community do the heavy lifting on this. the results are a first of its kind ranking of the greenest presidents in u.s. history, determined b