been on "60 minutes," once you've been on cnbc, once main street reads the book, how do you think mary jo whiteill handle publicity surrounding this? >> ms. white specifically and the s.e.c. generally want any excuse they can to come in and regulate, all right, and look for bad guys. that's the deal. she's a cop. with all due respect, mary jo white, i have a lot of respect and have met. i'm saying the new rule in the new world order post2008 and in the last year or to two, s.e.c., u.s. attorneys they wants to get in. they want to get in and they're going to get in, and -- >> and this is the part for the fact that the s.e.c. for some years was absolutely not -- >> i understand. >> i am very worried about the regulation. ayman, you and i worked on a story that dealt with the? ed guys in chicago don't have the same access as guys in new york, because an elk tron takes longer to go to chicago than it does to round trip in new york. >> yes. >> as far as i know, there is no particular regulation you could pass unless you delayed everything, until the farthest possible point that a electron would take

chair mary jo white said about the market. >> are the markets rigged?> they are not. >> how can you be so confident? >> sorry, got a hearing. >> so is she right? is michael lewis right? representative mike conaway is a republican from texas. he is chairman of the house subcommittee on general farm commodities and risk management which oversees the commodities exchanges. congressman, thank you for being with us today. what do you say? do you think the markets are rigged, specifically the equity markets? >> well, thanks, tyler. appreciate being on your program. doesn't really matter whether i think they're rigged or not. the evidence ought to drive what we decide to do. so what i'm for is a rational thoughtful process for examining the issue and understanding the phenomenon and seeing what it does and doesn't do. one thing we ought to try to avoid all the time here in d.c. is the ready, fire, aim scenario that sometimes gets ginned up with a media frenzy. it's all about getting the facts. this is a relatively complicated area, pretty niche piece of it alt

mary jo white-- chairwoman of the securities and exchange commission -- says the markets are not perfect-- but are the strongest and most reliable in the world. and, there is no evidence yet high-speed traders have done anything illegal. white was responding to the book "flash boys" written by famous author michael lewis who claims high speed traders are using electronics to gain unfair advantage over average investors. she made the comments during a house of reprepsenative review of the sec budget. a chicago trading exchange is considering placing daily limits on price moves in gold and silver futures to control wild swings in the market. cme group already has price fluctuation limits on energy, agriculture and financial futures. the director of metal products at cme says unusually large moves in gold and silver futures are turning off potential investors. a high ranking wall street executive is calling it quits as criminal proceedings pile up. hugh mcgee, ceo of barclays americas, is stepping down after two decades on wall street. mcgee says in a statement.. "after 21 years with lehman

that's mary jo white at the witness' table. she'll talk about the president's $1.7 billion request for the agency. that's up from what the congress gave her last year. live coverage here on c-span. >> the hearing will come to order. i want to welcome our witness, s.e.c. chair mary jo white. thank you for being here today to testify before our subcommittee. the securities and exchange commission has a uniquely important job of maintaining fair and efficient security markets, encouraging capital formation and protecting investors. this is not an easy task, but it is a critical part of keeping our economy thriving. for fiscal year 2015, the s.e.c. is asking for $350 million or 26% increase over last year's funding level. this is an especially large increase for any agency. and while the s.e.c. is funded by fees, i believe congressional oversight over your budget is an important task on the commission's activities -- check on the commission's activities. what we want from the s.e.c. is a security's regulator who is both capable and

mary jo white the chair woman said her agency has been actively investigating high frequency traders.we have an number of on going investigations, so we're very much focused on any abuses in that space. >> yet the real problem that the scc doesn't have the manpower. mary joe white confirmed as much in her testimony. >> the sec, had 19 examiners per trillion dollars. today we have only 8. more coverage is plainly needed as the industry itself has acknowledged. >> until recently bart chillton was a commissioner. he confirmed with us that underfunding is a chronic problem. >> regulators are overburdened with work. regulators don't the resources to do the job. currently there are people in markets that are getting away with crimes because regulators don't have the resources to pursue them. >> it's like vaping. some say it is terrible, others say it has benefited investors by reducing the transaction cost per trade. and others say it's just plain old math. i have written two books explaining how to make you a better investor, and nothing in my books competes with the algorithms that you le

and reflecting, you know, we all appreciate that we're still here and together. >> so, get this, mary jo white ran a 5k race this weekend. bill white, the father, did a 1-kilometer walk all himself. he finished it in great condition. and kevin white, the son, who is running his first marathon today and will start just behind me in a few hours, has already signed up for his second marathon in chicago. as i said, they're looking at today as a reawakening. kevin texted me overnight. he says, "today is the day that tears of pain will be replaced by tears of joy." >> wow. >> a wonderful day here at the boston marathon. now let's go back to alison and victor in new york. >> the entire family. >> it's just amazing how powerful. and it really puts everything into perspective, when you think about your own problems. listen to what they're saying. >> especially bill at 71 back on his feet. >> getting up and doing it again. >> all right, john. thank you very much. >>> here's a story people will be talking about all day. breaking overnight, this 16-year-old boy is recovering this morning after apparently

but if mary jo white comes out in the next couple weeks and says we have some bad players we don't thinkneed to go nuts on this or something along those lines. liz: that is unlikely. >> i have never seen regulatory action and investigators from the fbi, the sec, the new york attorney general which is not a slouchy office but it is an important office, you could bring criminal charges against white-collar target with very low bar for intent on like federal laws. i am telling you i have never seen something like this in the past from a book particularly a book which i believe i read, very thin. i don't even know who the bad guys are. liz: can i just get out? taking this company public and then the book came out, that is freshly taken ipo, might have gotten hit very high. >> depends when he brought it. liz: the company has been around. weren't a part of the bidding for night trading? >> vinnie has been around. i have been to terms's offices. i don't think they were waiting for anything else, they had a schedule. doing some time. and the book was just a book, bad timing with the book and it

in a congressional hearing today, securities & exchange commission chair mary jo white answered questionswhether high frequency traders have an unfair advantage over you and me. here is what she said. >> the markets are not rigged. the u.s. markets are the strongest and most reliable in the world. not to say they're perfect. one of our continuing high priorities is to increase market quality. gerri: high frequency trading is a topic we talked a lot about. michael lewis's book, "flash boys" highlighted high frequency trade. she was not giving lewis's book a review and no evidence that high frequency traders have done anything illegal. still to be debated, my friend, still to be debated. >>> later in the show, after two years of complaints apple admits there is a problem with iphone 5 but does their fix go far enough. >>> residents struggling with the aftermath of deadly tornadoes. what you need to know if you're in this terrifying situation [ male announcer ] if you suffer from a dry mouth then you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of

today sec chair mary jo white said that lewis has it wrong. she said u.s. markets are the strongest and most reliable in the world. even so the sec is one of several federal agencies said to be taking a very hard look at high speed trading. >>> the move to ban the los angeles clippers owner donald sterling from the nba is only the beginning. now there are a whole host of other questions about the team's finances and fortunes. you're watching real money. >> on techknow... >> these are some of the amazing spider goats >> small creatures, big impact >> how strong is it? >> almost as strong as steel >> inspiring discoveries changing lives >> this could go in a human body... >> right >> this is for an achilles tendon >> techknow every saturday go where science meets humanity >> this is some of the best driving i've ever done, even though i can't see techknow >> we're here in the vortex >> only on al jazeera america >> start with one issue education... gun control... the gap between rich and poor... job creation... climate change... tax policy... the economy... i

today sec chair mary jo white said that lewis has it wrong. she said u.s. markets are the strongest and most reliable in the world. even so the sec is one of several federal agencies said to be taking a very hard look at high speed trading. >>> the move to ban the los angeles clippers owner donald sterling from the nba is only the beginning. now there are a whole host of other questions about the team's finances and fortunes. you're watching real money. >> the debate that divides america, unites the critics, a reason to watch al jazeera america the standout television event borderland, is gritty honesty. >> a lot of people don't have a clue what goes on down here, the only way to find out, is to see it yourselves. >> taking viewers beyond the debate. >> don't miss al jazeera america's critically acclaimed series borderland on al jazeera america also available on demand >> on techknow... >> these are some of the amazing spider goats >> small creatures, big impact >> how strong is it? >> almost as strong as steel >> inspiring discoveries changing lives >> thi

mary jo white told a congressional hearing today: "the markets are not rigged" despite allegations in a new book. on wall street today, the dow jones industrial average gained 86 points to close at 16,535. the nasdaq rose 29 points to close at 4,103. and the s-and-p 500 added nearly nine, to finish at 1,878. still to come on the newshour: racist comments get a pro basketball owner banned from the game for life; a new push to curb sexual assaults on colleges campuses; iraq struggles with violence ahead of critical elections; the supreme court weighs whether police can search cell phones without a warrant; and one woman's fight to preserve egypt's antiques. >> ifill: the national basketball association took it's toughest steps ever against a team owner today, coming down hard on donald sterling, the billionaire owner of the los angeles clippers. commissioner adam silver confirmed during a press conference in new york that sterling's was the voice on a widely circulated recording that contained racist remarks. nba players immediately praised the decision on social media, and at los angel

mary jo a hearing with white. if you have a chance to ask a question, lord yes. this is the annual competition bank urges middle and high school students to think critically about issues. students were asked to base their documentary on the question "what is the most important issue the u.s. congress should consider in 2014." s are prize winner sophomores from montgomery blair high school in silver spring maryland. they want congress to take action against water pollution. >> water is the most vital substance to a human body. it is because of us humans are unsuitable for use to to pollution. in the u.s., we have learned to take water for granted. flusht, bottled water and toilets reinforce the same idea. water is an unlimited resource. diminishing and the condition totally different story. water pollution kills marine and, destroys ecosystems, disrupts a fragile food chain. the muslim not the only ones that suffer the negative effects animals are not the only ones that suffer the negative effects. towe are getting children roll up the floors. if we cannot protect

mary jo white has responded to michael lewis and his new book lash boys."tion that the stock market is rigged and she says the allegations are not new. we are taking a close look at the world of tech and we bring you one of the top voices in venture capital, jeff clavier. he was an early investor in .com ands including fab some portfolio companies were acquired by twitter, facebook, and yahoo!. great to have you for the hour here at >> thank you for having me. >> i say we are focused, but what is at the top of your mind as a tech investor? >> we focus on software as a service, the infrastructure of our portfolio. then we look at brand-new platforms that could be glasses, what is happening in the home was connected devices. we are looking at infrastructure under the bitcoin to see how we can use that. we do investments that we call munchak -- moon shots. it -- bit seemed insane, and years later -- >> not so insane. percent of the market. we will get you one. >> i am on a losing side of the train. -- trade. cited ats -- paddy comment about silicon valley that

chair mary jo white told lawmakers the fbi has several agencies under way.the fbi confirmed it had been conducting a wide ranging probe, getting whether high speed firms are getting information ahead of other investors. i think people would agree that there are advantages of speed, but what's the impact of the advantages of speed? is it harmful? who does it harm if it harms? but these are all issue that's we're very much reviewing intens intensively. >> in his book, lewis has confirmed high speed traders have rigged the stock markets. it gets heated tuesday between cnbc's power lunch. when added it was bass global markets o'brien. giving investors a more even playing field. >> i think it's really hard. >> you said it in the book. that's when i knew the markets are rigged. it's disgusting that you're trying to pars your words now. >> if you can't -- >> you are quoted that way in the book. >> let's walk through an example. >> do you believe it or not? because you said it. >> let me walk you through an example of -- >> it's a yes-or-no question. do you believe

oversight over the securities and exchange commission and in the hearing earlier this week sec chair mary jo whiteconfirmed that the sec is investigating high frequency trading as well as the new york attorney general is also looking at this. can you describe the potential concerns with the high frequency trading in terms of violations of the law? as indicated in my opening opening statement i've confirmed the department of justice is looking into this matter in the subject areas well. the concern is that people are getting an inappropriate damage, a competiticompetiti ve advantage over others because of the way in which the system works and apparently as i understand it and i'm just learning this in milliseconds can matter. we are trying to determine if any federal laws or federal criminal laws have been broken. this is also obviously something that the u.s. attorney in and head of the sec will be looking at as well. >> you will be working together on that? >> there are barriers that we can't -- but we will make sure these parallel investigations are in such a way that they don't have negative im

i hope -- i have a lot of confidence in mary jo white.a new person to regular at the s.e.c. who will be looking at these issues. >> right. last question, to what extent do you think some of these structural problems in the banking system in particular have held back the u.s. economy during this recovery? would you blame other factors for some of the sluggish behavior that we've seen of late? >> well, i do think, yes, the banks were stressed. they've had, especially the largest ones, were having the most problems. they have had to go through a period of recapitalization. ironically, i think the way the capital rules work right now give them more incentives to do more market trading derivatives and securities activities, not so much lending, especially small-business lending where you really need it. that gets a pretty significant capital charge. so i do think that -- and quantitative easing has made it easy by inflating financial assets. it's made it easier to make money without having to go out and lend. so my hope is janet yellen courage

mary joe white, come join us. we would love to have you talk about it. >> member of the top 100 today. >> mary joe white. let's hope mary joe this shouldn't be allowed. we want a level playing field. arthur -- level playing field. >> at this moment apple has blown through its 50-day, facebook has come off of it. bob pisani, picked a heck of a day to come back. >> thank you. few days off. r and r in the caribbean does wonders for the mental health. you're right, this is the busiest day of the year so far in terms of earnings. leading the way, take a look at the major sectors, tech stocks, apple moving, all the tech stocks to the upside, strength and consumer discretionary, strength in the financials and home builders doing well. get to that in a minute. the biggest earnings day of the quarter. 64 s&p 500 companies reporting today. we've got 200 so far. it does include everyone that has reported but about 40%. earnings meager, up 0.7%. the numbers on revenues, that should be up 3% overall. the important thing here is if this trend continues, we'll be up about 3% on earnings for the quarter. not great, but a little better tha

mary jo, the mother, she ran a 5k race this weekend. bill whitethe father, he walked a 5 mile race and kevin white is somewhere in this last wave of people starting the marathon. this is his first marathon, michaela, but he texted me on the weekend and said he signed up for a second and running chicago after this. so this is a remarkable family and really they have come through this so incredibly well. they're inspiring. >> they are. we know that marathoners are made of different stuff. you're much better shape than i am. i want to know in terms of security, people are talking about this probably being the safest place in america right now. give us an idea of some of the measures you have seen and maybe you're not seeing some of the measures. >> they have got double the number of law enforcement personnel than they have ever had before. some 3,500 law enforcement both uniformed and un-unformed. they have cameras, more than ever before. the people running, behind me, they can't wear backpacks or water on the back. they asked please don't wear giant

the white family was among 264 who were injured. mary jo suffered a wron wrist. her husband bill lost his leg. son kevin had shrapnel all through his body. but that's not stopping him from running this year. >> any fears of being at the finish line? >> if i have any, they're pretty far back. so i'm not really developiwelli them. >> i also think it's going to be one safest places that day. >> it's going to be one of the safest places in history ever. >> reporter: so kevin white who is running told me that today is a day when tears of pain will be replaced by tears of joy. he's so excited for this race. he's actually signed up for his second marathon a few months from now. security will be will be unprecedented. fans are told they can have backpacks and strollers just be smart about it. make security easier for the people patrolling the streets but today very much a celebration. >> there's a sensitivity up there. i saw you running with kevin. you looked john, j.b., i was surprised you're not entering the race. i know your commitment to cnn is the only reason you're