it is what mary jo white has to deal with.e in particular that i want to share with you. i know you've heard them as well . i want to see what you think. the first criticism is that mary jo white is overly focused on itemizing, or at least quantifying the number of enforcement cases it brings and the amount of money it collects in fines, penalties, and disgorgement. what we heard from the now retired assistant -- excuse me, trial attorney who worked at the sec and on his labrador said the sec is "an agency that polices broken windows on the street level and doesn't touch the top dogs, but just the worker bees. what do you think of those two criticisms echoed >> -- those two criticisms? >> they also missed another ponzi scheme and the reason for that, they were focused on statistics. congress helps them greatly to be -- it helps them to go to congress and being to say, look at how many cases we brought this year. and congress gives them money as a result. they are in a bit of a catch 22. the do need to focus on most important c

mary jo white, which is more pertinent to the steve cohen case because it's a civil case, has also saidthing that we like, it's not a great thing for law enforcement cracking down on insider trading, but it is the law now. and i'm telling you, the case against steve cohen, the sec civil case against him has got some holes in it. liz: so i think that the message for the average investor is other people know more than you do, ask you're just nibbling at the edges. >> well, i mean, the other message for the average investor, and we have a very upscale average investor here at fox business -- liz: very. >> you can probably give your money to steve cohen pretty soon. >> i don't know why they gave me this thing, i don't use it. [laughter] this is a big story. i think steve cohen may be back in business. liz: i have had investors call up and say charlie's story is very huge for a lot of people. thank you. charlie gasparino. >>> 38 minutes away from the closing bell. if you want to know how holiday sales are really stacking up, look no further than the guys at guilt group. our high-end viewer t

we have this exclusive, it's a fairly significant story, and it shows just how dead set mary jo whitea case involving the political intelligence. she wants to expand the law. it's a new sec chairwoman, former prosecutor for the u.s. attorney's office, southern district. you know -- liz: beyond wall street. >> yes. liz: charlie, thank you very much. very much. charlie gasparino with exclusive details. >>> closing bell, 27 minutes away. the federal reserve's last conference of the year is next week, and the requesting games -- guessing games have already begun. so what are they going to do, and how should you play each scenario? our expert market guests lay out the best strategies for your portfolio and your money. that's what it's all about. do you ever feel battered down by the depressing news on tv or daily frustrations or all the traffic out there? whatever. annoying in-laws, you name it. now you can share your frustrations with friends by simply sending an oy. stick around, this is a very hot app that's getting a lot of buzz right now. oy. >> [inaudible] >> they're very ebbs pressi

later in the day we will have mary jo white head of the s.e.c.he has not talked about the insider trading decision that came out yesterday from the appellate court and what that means for future prosecutions. then as the day progresses, we've got lloyd blankfine. we're going to have him weigh in. mary barra of gm headquarters. she's been in and out of headlines throughout the year. and then we'll be talking to hedge manager ray dalio about what's going on in the markets and of course culture. and later in the afternoon, we're going to have a rare interview with ken chanault. perhaps we'll talk more about the future of payments, apple pay, and what all of that means. and then at the very end we have a special treat. we're going to talk to adam silver, the commissioner to the nba who also hasn't had a quiet year in his job. including an op-ed he put out in "the times" just a month ago calling for the potential of gambling on potential sports teams. we'll do that all throughout the day and bring it to you on cnbc as well. >> so you're perfectly cont