this is an issue that came up in mary jo white's confirmation battle.a a former corporate lawyer. her husband is a corporate lawyer, both at big-time firms that do a lot of business with the s.e.c. there's some question about how much mary jo white has it recuse herself from ongoing s.e.c. business. warren wants an answer to that question. i can tell thaw "the new york times" estimated earlier this year that there have been about four dozen cases where mary jo white has had to recuse herself from ongoing s.e.c. business. so a lot to unpack here, scott, but real personal nature to this battle here. and really intense criticisms from elizabeth warren. >> no dot and after further review, 13 pages, you're right, the signature is big and it takes up -- >> the signature goes on to the 13th page. call it what you want. >> amon, thanks so much. >>> coming up, the najarians cooking up something unusual in the financials, jon and pete to the telestrator, next. leave early go roam sleep in sleep out star gaze dream big wander more care less beat sunrise chase suns

look the notion that mary jo white's integrity is at play is disturbing to me. should dispute is mary jo white has the utmost integrity. the agency the government the country should be happy to get people like mary jo white to come to the sec and her husband the same. i worked with him when he was a staffer at the sec. these are incredibly talented people. >> do you think it poses a problem because of his involvement in some of these cases that she has had to recuse herself and there you have been left with a stalemate 2-2 in terms of the commissioner voting on these things. >> it hand before mary jo white and it will happen after. i've seen conflicts and 2-2 deadlocks. >> an argument made to the extent that you want more regulation or that there is regulation on the table that is at least supposed to be enacted that it hasn't been enacted in part because there have been both the bickering on one side and on the other side these stalemates. >> absolute nonsense. congress gave the sec an impossible task in 2010 with dodd-frank. 100 rulemaking mandates. four five

>> whether any of her criticism, this is elizabeth warren's criticism of mary jo white is valid. >> nonecently voiced, no. >> so for example she raises issues about conflict of issues with mary jo white's husband which have created all sort of problems when it comes to votes. she has had to rekuzcuse herself. you have no problem with those things? >> senator warren said she focused on one out of 1400 enforcement cases. there's no evidence that mary jo white has rekuzed herself on more cases than other sec chairs in the past and focussing on one, you know seems to me to not be a good idea. this is a tough prosecutor. that's why she was chosen as sec chairman and she's had a lot of experience which helps her do her job and if you have experience in the past there will be cases where you recuse yourself. >> she's been in the job about ten years. what kind of grade would you give her. >> a plus. even when it comes to dodd frank. they are left on the table. >> there's a lot left for everybody. >> so i don't see any evidence that the fcc has been you know dragging it's feet at all. there's a t

latest battle with the white house, senator elizabeth warren focused on the top banking regulator mary jo whitege letter to white, warren writes to date your leadership of the commission has been extremely disappointing. you have not been the strong leader that many had hoped for and that you promised to be. joan, is this a bridge too far? >> i don't think so. when did it go so prissy? elizabeth warren has strong feelings about the regulation of banks. people can disagree with her. but i don't know why this is suddenly a bridge too far. >> elizabeth warren has focused her sights on democrats. and in many ways this white house. she has been a thorn in its side on a number of issues. some people not naming names, would argue joy, that maybe she should be looking at you know other parties more criminal parties perhaps. >> yeah, and the democrats now don't control congress. i think elizabeth warren is very useful in a lot of ways for the white house. she's out there pushing and pushing and pushing in a way that creates more room on the president's left. i'm struck by throughout his presidency how p

. >> meanwhile, there's been a lot of criticism aimed at mary jo white, the chair of the s.e.c. had the agency spending its time, areas like and this has been -- the point has been made before. conflict minerals ceo pay disclosure, et cetera. relative to some of the things that are happening in financial markets. and when it comes to the s.e.c.'s resources on the bond markets, they're frankly not there. this is another place that if you talk to even some of the s.e.c. commissioners like dan gallagher, outgoing now, who's drawn attention to this issue. there's not -- you've got to get that up and running if you're going to try to tackle in the first place this very issue that everybody's drawing attention to. >> i think you're absolutely right, kelly. and i think they're always behind the 8 ball. and that's the issue. whatever comes along next they're going to try to regulate that. but the entire market's going to be moved on to the next. >> i think it will be interesting to hear bringing it back to hillary and sort of the campaign. her thoughts on dodd frank and on financial reg

for mary jo white it's a surprise that she didn't exercise more restraint. i think now the sec is going through a temporary highly points higher political period. >> should she be in the job? is there a way for her husband to be walled off? what should happen here? >> you would expect she would recuse herself. >> she is but it's making it much more difficult for these cases because you get two democrats and two republicans and she can't be the deciding factor. >> you wonder why that hadn't come out in the vetting for the position. she had active roles when she was working for the stock exchanges and in other regulatory rolls as a prosecutor that you thought somehow this would have come out before but it's really disappointing and we haven't seen the end of this. just like we have seen board versus gotten from the ceos we'll see people have courage to start raising questions. taking on the sec a lot of people are afraid to do it until now. >> thank you. good luck with the conference today. i'll be seeing you after the show. >> we'll see you in a little bit. >

i think she's doing what she thinks is right i will say in mary jo white's defense, i think s.e.c. motivational issues and that's a problem that needs better attention. >>> if president obama were here at this table right now we how would saying back that dodd-frank was one of his great achievements. he would say incredible reform and part of his legacy. it seems to me like what you're saying is dodd-frank is tinkering at the margins. >> it's not just dodd-frank it's the way it's implemented. dodd-frank was a grant of authority to regulators to get this problem fixed and there were some -- as the couple thousand pages but there's broad discretion and heavy reliance on regulators to write the rules to implement it. so they have worked hard at this. but it's 2015. we haven't even finalized higher capital requirements for the largest financial institutions. if there's anything anybody agrees on, these guys were too reliant on big money. >> i want to hear who the bullies are and why. but you said -- we started this interview asking about who you'd support as a leader for this and you h

am curious a day after we heard about this scathing letter that was written to your colleague, mary jo whitesting she has not been tough enough on the industry. are you concerned about that? do you think it was out of line to make a personal critique and are you concerned about rumblings towards you? >> i have great respect with chair white and senator warren. that was my favorite job to work for her in the government. i am not going to comment on the specifics because i have great respect for both of them. i will say that as far as my role and how i am conducting it we are in a different place. getting out the rules that implemented the responsibilities under dodd frank. we are making adjustments to the rules. minor really but that agency did a terrific job under very difficult conditions given the resources to create that framework. and we brought the biggest cases in terms of foreign exchange. >> two things that caught our eye. they had a blistering come back and the wheat markets are dysfunctional and criticizing comments out of the cftc for the past. that will play out, but i'm curious

stuart: wall street's top cop of the fec chair mary jo white under pressure to dance rules that couldnies to claw back some of their top officials extra pay. now senator elizabeth moore and sharply criticizing white's role in a 13 page letter. sharp, sandra ashley, what is your take on the government saying you burn too much we want it back. >> enough already. they base miss whether there was mistakes in the financial statements whether they had to go back and change them and therefore performance based on the financials payments. what they earn no-space-on performance. >> it's not about compensation for good guys. it's compensation for bad guys and fraud. i think they should go after that. facing an amiss in miss in my book because we have laws the sarbanes-oxley laws. nobody enforces those laws. we wouldn't need the rules that the laws were enforced. a swing and miss. if they would only prosecute the crimes they find we wouldn't have these problems. stuart: it is an excuse. go after corporate executives. sandra: when it comes to raising money and there's no problems. stuart: the hyp

commissioner telling her that she's been disappointed with mary jo white's performance. the editorial says, notice the timing of this letter. democratic commissioner lewis aguilar is headed out the door and successful hasn't been appointed. "wall street journal" says this in speaking of return of accountability. if ms. warren wants the authority to hire f.c.c. commissioners she should first have to win a presidential election. "wall street journal" editorial board on the letter that elizabeth warren sent to the f.c.c. agenda stalls. two years later that pledge has been thwarted by bickering among the five members. couple of stories in the paper about the s.e.c. and this is another story that anthrax was sent to 51 more labs. pentagon saying that we expect this number to rise. that 51 is more than twice as many laboratories as previously believed. michael in byron, georgia you support legalizing marijuana. go ahead. caller: yes, ma'am. i've never heard of a domestic dispute because somebody smoked a joint, you know. i they legalize alcohol. marijuana has so many good bene