he talked to martoma. martoma turned around and talked to cohen and they started selling.hy didn't we such an open-and-shut case of incredible evidence, not do what the feds asked him to do multiple, multiple times. that is provide evidence about what steve cohen did or didn't do? now people would say, two-ways of looking at it. people would say, maybe he just didn't have the evidence, so he didn't give it up and chose to fight. that's possible. that means steve cohen didn't do anything wrong either. there is other plausibility. , there is another plausible explanation people believe and i know the feds believe it, that mathew martoma was somewhat delusional. i talked to a prosecutor on the case. why didn't he cooperate? even tell you anything? he really didn't cooperate at all? he likened it to a case he did about early in his career where he had to protect, he had a drug dealer and the drug dealer did not want to admit to his family that he was a drug dealer. so he chose to fight it out. he was somewhat delusional. he believed that martoma was suffering from the same typ

matthew martoma is not his name.is -- >> glad you brought that up. >> basically -- for viewers and listening that don't know, expelled from harvard law school for conspireing to change his bs to as. when they investigated him reportedly created a fake computer forensics company to then say, look, harvard, no. i did not go into -- he changed his name. got accepted to stamford, graduated with an mba. matthew martoma is not his real name regard shocking back story. weren't of the big questions during this trial was whether these facts would be introduced at trial. ultimately they were not. yes, matthew martoma, a successful harvard law school student applied ironically for clerkships to a number of judges around the country. was in the process of going through those interviews and selection processes and actually was on the verge of being offered a job by a judge, but falsified his harvard law school transcript. falsified it to make his grades look lightly better. irony, getting b pluses, a minuses and wanted them up a

. >> us and as we get that verdict, we will get to you in the sec case involving matthew martoma. we look at what will likely happen with the debt ceiling with dean baker. ,"at is next when "bottom line on bloomberg television, continues in just a moment. ♪ >> the suspension of the federal debt limit, which congress enacted back in october is scheduled to expire on friday. will republicans allow a debt limit increase without concessions? dean baker is codirector for the center of economic and policy research and he joins us from washington. good to have you back on the broadcast. where are we in the debt ceiling debate, headed for another train wreck> >> it is hard to imagine. the republicans have done this strategy a couple of times and it has not worked out politically in the sense that they have paid a big price. 20 11, they got a lot of concessions from president obama, put in place a sequester, reduce spending, they got back, but paid a price then and last fall they paid a huge political price. people overwhelmingly blamed republicans. i do not think they want to go there aga

link the rampant illegal trading at sbc capital they're still trying to get steve cohen and mathew martoma former employer. he has not been charged with any wrongdoing but the firm was found guilty we will have much more on this developing story. charlie gasparino just sat down and will speak with us in a second. twitter. dropping 22% write-down week told to about the slowing user growth as it cannot with its numbers but today the stock is punished brutally about down to percentage is only increased with its losses now we head to nicole petallides at new york stock exchange. >> right to own. a tough day today and $51 and change a law was point was $50 even receive the down 20 percent all day long. it is a huge move the biggest one day move to the downside. the high we have seen is the all-time record highest with the concern of the latest numbers pertaining to user growth. we heard the average to a vendor 41 monthly user's up 3.8% and i should say just up it was actually the lowest growth since the company began disclosing the figures. he expects his confidence in the company expresses con

plus, what comes next for matthew martoma? could steve cohen be worried?he question on wall street. ♪ >> turkey's outlook has been changed to negative from stable at s&p. they are saying a risk of a hard landing in turkey. gdp growth is 1% in 2014 to 2015. they did the average gdp growth around 3.4% in 2015, now about 2.2%. i went to get you caught up on the market here as they are trading. take a look at where you see the dow, the s&p, and the nasdaq, all trading positively, even after you have that negative -- or less than expected jobs, the s&p .8%. >> this is "lunch money," on bloomberg television, and we are streaming live on bloomberg.com, your tablet, and your phone. i am adam johnson. today's moving pictures now where the video is the story. talk about the e.u. from a top diplomat. cursing at the e.u. for its portion of the ukraine crisis. the leaked recording of the phone call adds to the tension between the west and moscow. and what started as a useful protest over higher transportation fares in brazil ended in chaos. demonstrators in rio de jane

. >> matthew martoma has been found guilty. it may make it less likely that rosecutors will go after steve cohen. it is looking like this may be the last conviction against s.a.c. >> ryan, you're watching sochi on the games. almost a proxy for putin's hold on russia. >> the games get underway in 8 1/2 hours. that is when the opening eremony kicks off. it could benefit from the games on increased traffic. you have what manus was talking about. the time to get into the emerging markets. jim o'neill saying this is a buying opportunity. mark mobius saying not just yet. >> we have plenty to talk about on the program. we have u.s. jobs. a little bit of tech. conviction in the u.s. we're watching sochi. what else are we watching? >> goldman sachs caught my eye. they said get ready for a day to watch by the european central bank. there is no reason for the european central bank not to go into an easing mode. that is one thing that caught my eyes. let's go to the nice, big map. there you go. it is a reprieve for equity markets. the pace

the government accused march, --martoma of getting details of the drug trial results before anyone else and then making very lucrative trade on behalf of his hedge fund, sac capital. >> the government has brought sacs against other former capital and ploys, haven't they? yes, it is a bit of a dÉjÀ vu. charged a handful of former sac employees. one was convicted in december. .ichael steinberg he is still working at sac. he is a portfolio manager. he has been on leave. it is clear -- a little unclear what his status there is. his case was a little different. he was accused of trading dell and being a part of a ring of corrupt hedge fund traders that were passing along insider information. >> the status of his case is that he was already tried and convicted and has yet to be sentenced. >> he has yet to be sentenced. he has said that he's going to appeal. ma,as is matthew marto apparently. we will find out. i want to bring in professor dershowitz. i want to bring -- see if you can speak to the tackle steinberg conviction, but not and now convicted today, matthew martoma. what happens to the

matthew martoma.ere are many people that felt the case was very strong against matthew martoma from the a lot of people expected a guilty verdict throughout, the yesterday the jurors were sending out questions, and some of the questions gave the defense reason for optimism. they were expressing hopefulness yesterday. things went south quickly this afternoon, and they found him guilty on all three counts. >> this does not mean that the feds are any closer to the big fish, does it? this is something that we have talked about is a consistent theme. we have seen prosecutions for a lot of the people around steven cohen, but he remained untouched. does this conviction change that at all? >> it is fair to say that prosecutors did not expect the case to go to trial. they thought by charging matthew martoma, he would deliver a case against steven cohen, his former boss at sac, but matthew martoma surprised everyone, if used to cooperate with the government, and ended up convicting him. he could always decide t

and martoma got a $9.3 million bonus that year. he only worked there for four years. it was in 2010 and the following year that the feds came knocking on his front door looking for fox. they were seeking information in the case, but instead, he opted to go to trial. after today's conviction, martoma could face 45 years in prison. the boss denies any wrongdoing. let's give credit where the credit is due. it was linked by the government. the latest insider information by an employee. the verdict itself pled guilty to insider trading charges. the fbi is still actively investigating steven cohen, and he's facing civil charges filed by the fcc, accusing him of failing to adequately supervise traders at his hedge funds. one of the 100 lawyers you need to know in securities legislation -- litigation, i'm sorry. and he was the coauthor of financial serial killers, hustlers, swindlers and con men, so good to see you. preet bharara, he has gone after high-profile cases and gotten convictions. >> yes, he's not done, and no u.s. attorney is done. but these crimes are like any oth

and martoma being the ninth in this case.ting thing at the end of court proceedings today on the courthouse steps, there was a bit of a scuffle that emerged between a lawyer on the martoma defense team and aggressive photographer. the lawyer was eight months pregnant, trying to fight off this photographer, as he was attempting to get a shot of martoma and his wife, who were understandably quite distraught about the proceedings. things settled down. but it was a dramatic day inside the courthouse and out. >> thanks for that update. kate kelly has been following this trial since day one. >>> warren buffett's housing bet seems to be pieing off. usg having its best day in two years. joining us in a cnbc exclusive, jim metcalf, chairman and ceo of usg. great day for the stock. a new high today, up 17% so far this year. the analysts like the volume as well as the pricing trends. you sound optimistic about 2014. what's going to continue to drive those trends in 2014? what part of the business are you seeing the most growth? >> we're

mathew martoma allegedly got insider trading from dr.ney gilman who was doing studies. >> and sold all the stock. liz: they made a lot of money. you are up one of a few people the depots steve cohen on a separate unrelated case that have you seen him? is talked-about in the courtroom? >> he said when the fbi came to him, the sand and the see that, when the government close, ultimately the guy making these calls, the person making the decision based on this information. i think it is correct to say he was the head of the farm and wasn't removed from this, he was in the middle of this. >> if mathew martoma is found not guilty is a setback for the government in that steve cohen is the ultimate target and a lot of people are concerned but they can't get a guilty verdict on mathew martoma they are done with steve cohen. isn't that accurate? >> it is a huge setback. i can't speak that it is done but it would be a huge setback. >> what are the chances of a guilty? >> guilty? i think the overwhelming percentage is guilty. you never know with a j

also, the martoma trial. that took off. geez.the clip on our site of the little scuffle that happened. finally a report about how more men in their prime working years are not getting the jobs they need, which brings us back to jobs again, which is also a rocket shot. so there you go. >> allen, it's a great point. we've been asking people about the jobs market, where they are in their industry. a lot of interesting tweets. we'll see what happens tomorrow morning. allen, thanks. from your living room to the battlefield, did you know the maker of rumba vacuum cleaners also buildsen ma unmanned vehic? find out when robots could take over the world. don't go anywhere. and a low sex drive, i had to do something. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron the only underarm low t treatment that can restore t levels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or w

on wall street the jury begins deliberations on the matthew martoma case. scheme with 200 75 million. prosecutors want the jury to convict. defense lawyers say he is escaped coke because they could steve: -- could not get himself. >> they affect steve cohen when in the closing argument yesterday, saying it is not fair to convict our thoma -- martoma, in theally roadkill government's attempt to get cohen. martoma did not take the stand. it does not send the best message to the generate. if he did not do anything wrong, why did he not take the stand. his defense has followed a very classic insider defense trading playbook. they have tried to argue the witnesses are dishonest and unreliable. they have tried to argue the information he traded on was are ready public. >> what was the strongest case the prosecution made? >> the evidence has always been very strong. they seem to stick to the asics. they review the facts and they mae a little tough for marto to overcome. they said i gave him information they were not supposed to. a lot of evidence he traded on the

the case of matthew martoma having gone to the jury.you expand a little bit more on how you read the current climate of juries when it comes to insider trading cases? >> i think juries understand that it should be illegal. even though people say everyone does it, it is like steroids in sports. some people have told me we have to do it. otherwise the playing field is not level and our clients are at a disadvantage. that is not the way it should be done. jurors understand that. jurors in the southern district of fairly sophisticated but in the end, it will come down to whether they believe the witnesses for the government or they believe they defended it not really engage in this kind of insider trading. no one can predict the outcome of the case. the folks at sac are sitting nervously around because often went to get a conviction, you see some cooperation. that cooperation can lead to further prosecution. his case is probably a long way from being over. >> you talked about the concept that everybody does it. the level playing field. and

martoma could face up to 10 years in prison. he plans to appeal. federal authorities continue to investigatie other allegations of insider trading the hedge fund. the founder stephen cohen has not been charged. hedge funds are getting burned on green mountain's deal with coca-cola. green mountain stock surged thursday after coke disclosed taking a 10 percent stake in the company to develop an in-home beverage system. funds such as green light capitol shorted the stock betting it would go down instead--the stock rallied from $80 wednesday to $102 thursday. ...and some hedge funds taking major stakes in commercial real estate...such as malls, resorts and hotels counting on an increasing values. the firms are also plan to lend more than $1 trillion to borrowers who can't get loans from banks. real estate investors are taking advantage of low mortgage rates. recently the 30 year rate dropped to 4.23 percent from 4.53 percent since the start of the year. 15-year rates fell to 3.33 percent. new data "delves" into what makes "tech hubs" so expensive for r

martoma faces as many as 20 years in prison on the most serious counts.that jobay growth picked up last month from the slowest pace in three years. economists predict that january payrolls rose by 180,000. the unemployment rate is expected to remain at six percent. >> right. jonathan ferro joins us more -- joins us with more. the spread is pretty big. >> spread is massive. sogen, 270k. that is a big call, 270,000. talking about comparing it to pin the tail on the donkey. this is a children game here you put a blindfold on and after pin the tail on where the donkey's tail will be. this is kind of the same thing. it is a hard thing to judge. then ms. in december.-- that miss in december. the most important data in the world. it is backward looking and eight is an indication of market sentiment. bottom line is that the u.s. economy is 70% german by consumer spending. if you want to spend, you need a job. payroll numbers are always important. look, this is still a big number. for me, you have to look at unemployment as well because we're getting ever closer t

matthew martoma, former portfolio manager at hedge fund sac capital was convicted by a federal jury in new york city today on all three insider trading counts that he faced. martoma helped his company net more than a quarter of a billion dollars in profits through illegal trades based on inside information about disappointing results of tests on an alzheimer drug. this was by far the biggest case of insider trading. >>> we have a followup to a story we brought you last night. mixed results from twitter's first ever quarterly earnings report. twitter earned more money than forecast, but it reported a sharp slowdown in new user growth which was less than expected. that spooked investors and the stock plunged today, down 24%, closing at $50 and change. still twitter shares are nearly double november's initial public offering price of $26. bill? >>> our next guest has doubts about the future of twitter at this point. he's ben shakter, senior internet analyst at mccorory research is. ben, you downgraded your view of twitter in december before all of this. what were you looking at at that ti

versus martoma case. third day of deliberations surpassing people's expectations how long this process would take. a lot of folks expected to see some resolution one way or another yesterday, but they're still at it, and it's been very quiet this morning. no notes to the judge or anything to suggest where their heads may be at. having said that, the defense took some confident from the jury, seeing a transcript alleging some was public at the time passed on to marthoma. he stands accused of three different accounts related to insider trading. two of securities fraud, one of conspiracy. this jury very interesting in terms of its makeup. it seems to be a well-educated somewhat affluent group including an nyu professor, bus driver, aig underwriter and nine others as well as alternates. sue, it's anybody's guess where they'll end up today, but i think people are feeling like a resolution will come soon. >> kate, thank you. keep us posted. >>> on to the soda wars now bubbling all day after coca-cola and green

martoma -- >> and who got community -- and who got immunity. was only a grain of sand, they are after a man named steven a. cohen. >> he is basically quoting federal investigators. >> is that a surprise? >> you think they will get him? >> i think if they had the case they would have brought the case. i would say no. >> is in insider trading supposed to be really difficult to prove? it seems toso easy, revolve around these expert networks. is that the linchpin here, what has made it so easy? people were advertising services to help you do insider trading. >> if you have witnesses who can't testify about giving you information that you knew you were not but still t -- you knew you were not supposed to trade on, not that hard. >> now there is always a paper trail. how pervasive is it? >> i don't think it is pervasive, i think most people are honest, there are people who are going to break the rules. the same technology also makes it easier to catch trades,t to view how a trade occurs, they can tell when something is abnormal. it is so easy to trac

person i was just recently convicted he wasn't cooperating he had direct access to cohen you have martoma was not cooperating who had the wrecked access to those who are calling i will tell you this that if more tomer is convicted the friends are going to fry is this very like when they don't like losing the big fish now final question yes or no do you think insider trading should even be illegal i think it should be legal it's it's kind of like you know the american economy is really a casino but the casino to run the fair game you don't want somebody having a mark that could cause an insider trading just like a mock deck of cards well said are right sam and i thank you so much for your insight and time that was white collar crime expert sam antara. thank you for having me on up next francine mcconnell is back talking about creative accounting and those who seem to be getting away with it you won't want to miss that conversation so stay tuned and then add harrison joins me to talk knocked up past and present in today's big deal but as we head to a quick break here is a look at some of th

. >> martoma did not take thed n stand. what do you think about tt?ge to the jury. if he did not do anything wrong, why did he not take thd heand. his defense has followed a veryr classic insider defense trading playbook. they have tried to argue the witnesses are dishonest and unreliable. they have to argue the rmation he tradermation are was already public. alrea >> what was th>> what t case>> w >> the evidence has always been ry strong. they seem to stick to the toics. are a little touar for martoma to overcome. there are two doctors that took the stand. they said they gave him ionorm they were not supposed to.su the information.the infoded denc he could flip even after he is convicted. >> now on to a story about a hedge fu der who left the sidewalks of wall street. sa wrote an e ti e mselfn from wealth addiction. "i started to see wall street r with new eyes. traders despise anything or anyone that threatens their bonuses. nuseever see what a drug addicts like when he is used up on junkn ? he will do anhng to get a fi wall str like that." >> the w

now, it was a day of high emotion, obviously, for martoma and his wife. as they left the courtroom being we're showing you video of this right now, there was a scuffle that broke out between probably an overzealous photographer and an associate on the defense team, a woman who was eight months pregnant and it almost looked like there were going to be fists there. this is the kind of thing that p has when you've got emotional situations and a man who has three young children and was once sitting on top of a successful hedge fund career is now facing ten-plus years in prison. >> i can understand that, kate. does this mar tomorrtoma convic bring steve cohen closer to an indictment? >> i would have to say that it brings him closer rather than farther. there were witnesses in which the defense talked about how people like matthew martoma or the key witness against him were mere cogs in the wheel as the government formed a bigger case. none of the loops are closed here. they have settled with the firm over various allegations but it's not as if anyone has gotte

ing let's talk about insider trading and matthew martoma and sec. is it hat thatgovernmehat thatgo has to p ve?? >> the governmen>> t trying to do two things in this case.hise. on the one hand, they are trying ve a simple case of insider trading. ---- received information fromtt somebody and that persdy a testified. it is a question of who you believe. if you believe the witness, thew th if you think he ifs givehink hef he if will quit. the ultimate goal is to knockis the dominoes down to seenof de can get to tead oft to t in all these cases, what theyy try to do after the level peoplost in the hope that theyill turn against the upper-level people.people at is they make their cases. i member once rudy giuliani if my case goes to trial i have not done my goal is to make surl is t t every domino falls and there is no one left and everybodefleadsb guilty. that is the way the government tries to bring these cases. . are hard cases to bring because of the concept of willful blindness. oftentimes, people on the tope will say do not tell me wherewhr you go

aljazeera, new york. >> martoma was the eighth current or former s.a.c.e to be convicted in the biggest inside trader case in history. >> apple is buying back shares. the head of trading at t.j. partnership in london joins us this morning. we have a chart that shows that apple shares are down nearly 9% in 2014, so does this buy back have more to do with easing investor concerns or that pressure that carl icon, the biggest investor is putting on the pressure. >> the pressure from him and other significant investors marks somewhat of a turning point for apple. unfortunately with the demise of steve jobs a while back, the company has changed tack and in terms of new products, there's nothing dynamic coming new to the market. it seems to be losing market share to the other products that are out there, and so therefore, apple, which is sitting on a large pile of cash needs to do something a little more dynamic with its cash. it's not conducting any m.n.a. activity of any of size. it's not paying huge dividends, therefore a share buy back is pretty much the onl

matthe martoma faces more than 20 years in prison. he helped s.a.c.al advisers earn more than a quarter of a billion dollars in stock trades based on tips about the testing of an alzheimer's drug. twitter stock took a huge hit today, falling nearly $16 a share, closing just above 50. that's a drop of 24%. this came after twitter reported that it's not adding as many users as it used to. what would you pay for a harley once owned by politics. he literally wrote the book on conventions, covering every presidential campaign from 1964 to 1996. marty plissner was 87. in a moment, he was a drummer boy in a british invasion of america. ringo's story next. introduction... ( screaming ) >> reporter: that for ringo, the beatles and this country changed everything. ♪ well she was just 17 ♪. >> it was like one of those magic moments. we land and it was all perfect. we were number one, and the kids loved us, and we loved the idea of being in america. i'd never been to america. ♪ well i say that something, i want to hold your hand ♪ >> reporter: "i want to hold you

former sac capital former portfolio manager mart thousand martoma was found guilty of insider trading just a short while ago, and, it has got everyone buzzing. here to tackle both topics in a head-to-head, fox business senior correspondent, charlie gasparino and hedge fund manager, ed butowsky. nothing below the belt. >> i have to tweet something out. excuse me. melissa: right away? that is good point. we're ripping twitter yet we all on it and using it. >> i love it as a news-gathering tool and news-dim semination tool. i use quite a bit. i move stocks on this thing. i don't think they have figured out how to monetize it. >> right. >> i think before an investor ever gets involved in this thing i think you have to ignore anybody that owns the stock, like the gentleman we have on here -- melissa: just ignore anyone who owns the stock. that is strong statement. >> here's why because they're talking their book. goldman sachs underwrote it and put some huge valuation on company recently. this company has to go out and prove itself first likeslike facebook. if that happens buy it. melissa:

. >>> and former sac capital portfolio manager matthew martoma has been convicted of insider trading. u.s. prosecutors claim he helped insiders more than a quarter of a billion dollars. the month-long trial featured testimony from two prominent doctors who confessed to passing information to martoma in 2008. eats the eighth sac research analyst to be convicted or plead guilty to insider trading. his attorney says they plan to appeal. >>> let's give you a look at what's on today's agenda in the united states. the bulk of everyone's focus, of course, is going to be on that january jobs report. we get consumer credit figures at 3:00 p.m. eastern time. .it's just a handful of earnings today from the likes of apollo global management, cigna and moody's. >>> still to come on the show, it cost $50 billion, protests against the kremlin's anti-gay laws. >> will hosting the winter games pay off for russia? we'll get into it when we come back. mine was earned in korea in 1953. afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often hande

government wins again in its insider trading probe against former sac capital fundraiser matthew martoma. $275 million in profits. he accused and now -- he was accusing now convicted to trade shares. it is the seventh of action in conviction ineven six years. >> he is not part of this, but things change, cristina alesci, for mr. cohen this morning. cave, heindie martoma said all along he is not going to cooperate with the government, but once you happy conviction and once you -- have the conviction once you have the case, changes the case. >> he faces up to 20 years in prison, so we will see how that plays out. >> our second front-page story. earlier this week it was twitter, now it is linkedin. shares of linkedin down about 8%. first quarter missed analysts' estimates. net income was down 67% in the fourth quarter. let's twitter user growth. >> all the user growth. it is an out of body experience. buy onn "maintaining strong fourth-quarter results, promising outlook, that is totally different from what you just said." >> that is totally, you're absolutely right about that, this is twitt

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mathew martoma was charged with conducting illegal trades based on inside information about the development of an alzheimer's drug, netting $276 million in profits and averted losses for the firm. he is the eighth current or former employee of sac capital to be convicted on insider-trading charges. he could face up to 20 years in prison. the senate judiciary committee has approved attorney debo adegbile to lead the civil rights division of the department of justice. he previously served in top posts with the naacp legal defense fund and, along with other attorneys there, represented prisoner mumia abu jamal, a move some republicans unsuccessfully used to try to discredit him. here in new york city, activists gathered outside of new york's fashion week on thursday to demand better wages and conditions for garment workers in bangladesh. the demonstrators called for us brands whose clothing was made in the rana plaza factory complex to compensate relatives of the more than 1,100 workers who died when it collapsed last april. michelle flores of 99 pickets spoke at the event. >> fashion week her

portfolio manager mathew martoma was found guilty earlier this month of insider trading and is seeking acquittal or a new trial. he was convicted for his role in illegal trades claiming jury bias and failure of prosecutors to prove he committed a crime. mattel is acquiring mega brands for $460 million. world's largest cornmaker will expand construction and building block oyster that a complete with lego, the number two replatemaker in global sales and a national association of realtors say pending sales of existing homes edged up in january by 0.1%, lower than the estimated 2% increase. sales rose in the northeast and the south offset by declines in the midwest and west. that is the latest from the fox business network giving you the power to prosper. adam: march will come in like a lion. huge weekend winter storm the entire length of the country with rain, snow, the totals, wind chill factors, let's live to the fox weather center, we haven't had enough, the line might be came to what we're seeing across a lot of the country. it is this right here, the precipitation part of it, the sto

the firm can no longer invest money for outside clients but unlike martoma steven coen is a freen extremelyan, al jazeera, new york. >> reporter: found in mexico and police discovered 20 bodies in the western state and 19 people are being questioned. riot police in brazil talk about protesters complaining about high train fares and took over rio central train station before the weekend riot and several people were injured and one of them a cameraman. argentina has major economic problems and inflation soaring and the value of the peso has nose-dived and because of that some farmers are hoarding their crops as we report from buenos ares. >> they are a big income and soy is the latest bone of contention and in 12 months the value of the currency dropped 63% with a large fall in late january. so despite government claims that the currency has finally stabilized some soy producers are hoarding some of last year's harvest hoping for a better price depreviousing the government of badly needed currency revenue. >> what the producers are selling is they will do it when they see signs of stability a

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we're watching the courthouse in lower manhattan on the right-hand side of your screen is matthew martomaading case. >> no coke.

>> mathew martoma, he hired him. michael steinberg. he hired him.out to dinner with one of the greatest stand-up guys, same sam. you know what the government wanted him to do? >> right. >> wanted him to flip. >> he is a criminal. >> excuse me. >> sam waksal is a criminal. spent eight years in jail. >> flipped -- >> martha stewart. >> martha stewart. right? so they wanted him and told him, this -- >> but he is a criminal. >> charlie, they told him wouldn't have to do day one in jail if he admitted she knew about it. you know what she said? she didn't know about it and i'm not going to lie. >> he is a criminal. >> oh. >> take him out of it. why do you think steve cohen had this sort of, this thing where he hired so many criminals? >> he didn't hire criminals. >> they are. they are all going to jail. >> excuse me. i havehundred guys that work for me. if they commit a crime, i'm a criminal? please, charlie. >> there is a lot of guys -- supposedly you had five guys were criminals. how many people were criminal in -- >> you know his son, the united states

among the other stories we're following in the paper this morning, former portfolio manager matthew martoma was found guilty of insider trading yesterday afternoon. a federal jury in new york found that he was guilty on all three of the conspiracy and security fraud charges that he faced. the verdict was the eighth insider trading conviction of a current or former employee of steve cohen's sac capital and raised questions about whether prosecutors will eventually go after mr. cohen himself. >> and what a report. 79-0. >> amazing. >> insider trading, it really is. let's get a check on markets as we count down to the all-important jobs report. we are seeing futures rising a bit on yesterday's gains. joining us, mark vitner. mike hansson, merrill lynch global research. yesterday i was at the new york stock exchange. big rally. dow's best day of the year. traders were talking about optimism on the jobs report. is that justified? >> there's some expectation with the weather story supposedly playing out in december that we get a bounceback. historically, that tends to happen. whether you get basi