. >> he and mary jo white can sit around talking baseball. a huge yankees fan, peter knows this. e -- >> he is a big nationals fan. of my favorite memories of ben bernanke -- i have seen him at national scams. -- nationals games. nobody sitting around him knows who he is. only the bloomberg people know who he was. >> erik knows. kids were sitting with paul volcker at a lacrosse game, no idea who he was but a guy with a bag of popcorn. >> whether ben bernanke goes to disney world or not, no ride can top the ride he has been on. >> you are so right. peter, you will be back at 2:00 p.m. along with tom keene and michael mckee for live coverage of the fed policy statement and ben bernanke's final press conference. >> talking about fedex, they reported earnings this morning that fell short of expectations. where is the weakness, what is walk -- what is wrong with fedex? julie hyman is here. what went wrong? >> we should point out that net income rose by 14%, it was not as big an increase as had been estimated. there was the timing of the holiday season. we had a late thing skimming, cyb

country can have a lot of influence, you can see that not only in the market, but you can see mary jo whiteec race that. she gave a shout out to encourages -- to activists that have been encouraging them to work on this. >> they're trying to unlock value for the average investor. i know you have strong opinions on this amount -- on this, what do you make of this? >> kind of in the world of startups it is all about who has what's on the table. it becomes this whole battle around the class of shares, and a lot of people feel that they are on the board to represent the class of shares they invested. minority company thatnto a is worth $20 million committed will be hard to get your voice heard. >> you really should not assume that a big company is owing to move because one percent investors say something. it is when they have an idea that resonates with the larger investors by the institutional investors. that is when the board hears about it. even the most entrenched can do one thing, which is counted. when they hear their shareholder base come to them and say, whether does behind the scenes a

that is counter to what we been hearing mary jo white.a letter saying they could be subject to sec regulation. this is a debate we will see play out in washington in the next year or so. >> megan hughes, thank you so much. beyoncÉ caused a stir on social media today after dropping a whole new surprise album by glue -- exclusively on itunes. we will talk about the unconventional launch, next. ♪ >> welcome back, i'm emily chang. he on say fans got a big surprise today, without any pre- promotion, she released a new album exclusively on itunes just before midnight. the album was quite a stir on social media. spike byof beyoncÉ more than 5000 feet after the album came out. cory johnson is back with more. you know i am back with -- i am a big beyoncÉ fan. >> you saw her last week? >> i did. i listened to some of the new songs on itunes today. there are some collaborations there with justin timberlake, jay-z is on there. i'm a little annoyed that i asked went to the concert and she just has a new album. i do it to the next concert to see it. >>

is such a friend of mine, and mary jo white took on the issues of hedge funds and transparency and you're getting the money market reform done, and there's a lot of reform in that way, too. because those parts of the sectors are outside the banking system directly that that was a import. fifthly, working with the fdic, everything you have done with that derivatives market. --ee and an $80 trillion has $380 trillion market. the public can see you. 70% interest rates are already cleared. that would not have happened without dodd-frank, without the sec and so forth. each of us have been the grist cops on the beat. -- have been vigorous cops on the beat. at the cftc cannot we have worked with the justice department and the sec. we exposed the pervasive rigging against the interest rate market. our annual report highlights this. i think the last thing i noticed , just the council itself, i was honored to serve in the clinton administration as well whenever something called the president's working group. two secretary geithner's leadership, this council has come together, a place where we can c

mary jo white issued a letter back in august saying that urrancy could be subject to sec regulation.omething we're going to see play out here in washington over the next year. >> i wonder if they were libertarians. thank you so much, megan hughes. the virtual currency also comes with a ton of security challenges. security adviser richard falcon rent joins us with more. if you had to pick the single greatest risk at bitcoin poses, what would it be? facilitates crime, topit provides a way for rugby, weapons, what have u you to move around the world without regulation. >> it seems that china, norway, and europe seem to understand that. they are striding away from his this using bitcoin, but the u.s. is not. what are we missing? white isary jo talking about is regulating it as an asset. bitcoin asset that you sell back to some of them and then bill the return. it is a separate matter if you regulated as a currency. the different agencies involved in different issues, the u.s. approach is to only regulate the middleman. the people who translate it point assets -- bitcoin assets into real

mary jo white says she expects the commission to approve the volcker rule which will prohibit banks from closed-door meeting next week. that will will limit a bank's ability to invest in private equity funds and hedge funds. twitter him its first female board member, former ceo of christian publishing education company has been elected to the twitter board of directors, she left the 12 year stint on the board in april. fast-food workers in 100 cities across the country have walked off the job. that strike is part of labor group campaign that demand wages be raised above $15 an hour and for the right to organize. that is delayed as from the fox business network giving you the power to prosper. >> the year ago today prohibition, the ban on the sale of production of alcohol was repealed. >> new york celebrate for the first time since that bleak january morning when the great drought, was itself again. the vast amusement center comes into its own. [applause] ashley: a bleak day when prohibition went in and a great day when it ended. how are you celebrating today? your answers will be on the

chairman schapiro is such a friend of mine, and mary jo white took on the issues of hedge funds and transparency and you're getting the money market reform done, and there's a lot of reform in that way, too. because those parts of the sectors are outside the banking ystem directly that that was a import. fifthly, working with the fdic, everything you have done with that derivatives market. $380 trillion market. the public can see you. 70% interest rates are already cleared. that would not have happened without dodd-frank, without the sec and so forth. each of us have been vigorous cops on the beat. at the cftc cannot we have worked with the justice department and the sec. we exposed the pervasive rigging against the interest rate market. our annual report highlights this. i think the last thing i noticed, just the council itself, i was honored to serve in the clinton administration as well whenever something called the president's working group. through secretary geithner's leadership, this council has come together, a place where we can collaborate them a have honest discussions, and when we di

chairman shapiro, who is such a partner and friend of mine and mary jo white took on issue of hedge funds and transparency of hedge fund and getting money market reform done and there is lot of reform in that way too. i think those parts of the sector are outside the banking system directly and that was so important. fifth, working with the sec all we've done with the derivatives markets. there is 380 trillion-dollars market is now, has some transparency in it. you can see every transaction as it goes through the system. the public can see it. 70% of interest rate swaps are already cleared. it wouldn't have happened without dodd-frank. it wouldn't have happened without the sec and so forth. and sixthly, each of us is been vigorous cops on the beat. we have rigorous enforcement around the table working with the justice department and sec we exposed pervasive rigging inside interest rate markets. all of you have have been doing things around the table that have been remarkable. our annual report highlights it. i think the last thing i noticed, this council itself. i was honored to serve in

under mary jo white will suffer the same fate?at sense of the word. but the reality is that fraud in complex transactions requires a very intensive and long-term investigation. and there's a limit to what resources government can apply to it. if it's a criminal case, if it's an insider trading case, if it's cut and dried like a madoff case or bernie ebbers case, that's one thing, but an entirely different kettle of fish to attempt to pin the great recession on any individual's lapel. >> are we at a point now where the statute of limitations essentially has left people thinking, if it hasn't happened by now, it probably won't happen at all, some of the high-profile prosecutions? >> well, i don't think the statute of limitations is a bar in the minds of the government. maybe some of the defendants e are -- potential defendants are hoping that's so. but the government usually has a way of extending statutes of limitations pretty readily. so i don't think that's an issue. >> all right. well, certainly attorney general eric holder has

chair, mary jo white. judging from the gentleman's remarks, you'd think she might be in favor of this bill. let me tell you what she says about this bill in particular. this is a quote. our markets would not be well served by narrowing the scope of the commission's jurisdiction and oversight of these advisors with respect to this bill. she also said that private equity investors are in need of the same protection as other private fund investors. she has also said, the commission has brought enforcement actions. they are talking about the advisibility of having oversight over advisors and having these disclosures made. the quote is that the commission has brought enforcement actions against private equity funds and their advisory personnel involving unlawful pay to play schemes, insider trading, conflict of interest, valuation and misappropriation of assets. now, if you think about the argument that pension funds may not -- i yield myself another 30 seconds. the speaker pro tempore: the gentleman is recogni