mary joe white the chairwoman of the sec told congress on april 1st that her agency has been activelyossible wrongdoing by high-frequency traders. >> and we currently have, i can't talk about specifics, but a number of ongoing investigations regarding various market integrity and structure issues, including high-frequency traders and automated trading. so we are very much focused on any abuses in that space. >> yet the real problem is that the sec doesn't have the resources or the manpower to do their job and conduct thorough investigations on high-frequency traders. mary joe white confirmed as much in her testimony. >> in 2001, the sec had 19 examiners per trillion dollars in investment adviser assets under manager. today, we have only eight. more coverage is plainly needed as the industry itself as acknowledged. >> until recently, bart chilton was a commissioner of the commodity futures trading commission, economy firmed with us that under funding a chronic problem for financial industry regulators. >> regulators are overburdened with work. regulators don't have the resources to do

mary joe white confirmed as much in her testimony. in 2001. today, we have only eight.ore coverage is plainly needed as the industry itself has acknowledged. >> until recently, bart chilton was a commissioner of the future trading commission. he confirmed with us that underfunding is a chronic problem for financial regulators. >> regulators are overburdened with work. regulators don't have the resources to do the job. currently there are people in markets getting away with crime, because they don't have the resouthers to pursue them. >> al jazeera. you can see more of high frequency trading. that's 7:00 p.m. in the east, 4:00 p.m. in the west. pay to play on the internet. new rules proposed today could force the sites that want fast content to pay for it and make the rest of the website that you visit a little bit more slow, and introduce you to an 89-year-old grandmother, from illinois traveling the world to help eradicate polio. real reporting that brings you the world. giving you a real global perspective like no other can. real reporting from around the world. this

if mary joe white from the s.e.c. called you or the s.e.c. reached out to you, which they may do, because your book has created quite a stir, we are all talking about it, everybody else on main street is talking about it, and you have alleged that the markets are rigged so if she called you, what would you advise her to do? how would the s.e.c. be able to right the ship and make it a level playing field for the individual investor? >> well, two answers. the first is it seems very unlikely they would call me. if they did, i would point them directly to the subject of the book, who went into the s.e.c. and tried to explain all this years ago. the s.e.c. didn't have any particular interest in it so i don't know why they would have a particular interest in it now. but the charm of the story to me that i'm telling is that these characters, my flash boys, the people at the center of the story, they see that the markets have gotten rigged the way they are rigged, and they also see that they think that regulation is unlikely to cure the problem. the

mary joe white confirmed as much in her testimony. >> the sec, had 19 examiners per trillion dollars.ay 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 learn as a high frequency trader. this man help train the future quantitative analysts, who don't think they are doing anything wrong. >> i think they are just learning the fundamentals of modern technology. markets went electronic a couple of generations ago. >> but the f

. >> that was mary joe white stating emphatically that the markets are not rigged by high frequency tradingt was also the topic of a heated debate as ceos of two exchange traded jabs. listen to this altercation between bill o'brien and brad katsuyama. >> he said it in the book. you said it in the book, that's when i knew the markets were rigged. it's disgusting that you're trying to parse your words now. >> you are quoted that way in the book but -- >> let's walk through an example. >> do you believe it or not? because you said it. >> let me walk you through -- >> lets a yes or no question. do you believe it or not? >> i believe the markets are rigged and i also think you're a part of the rigging. if you want to do this, let's do this. >> the heated exchange comes after the issue was brought back into the spotlight by michael lewis's book flash boys and after the fbi announced high speed trading initiative. bats as you recall was going to go public, had a glitch on their own exchange and never did. that's sort of the back story. >> these are guys that are in the middle of it and so you get

. >> mary joe white was here recently. here is a clip of what she had to say and she talks about this very thing about whether or not they can bring criminal cases. let's listen. >> the s.e.c. did you want have the criminal powers and i certainly understand the call for accountability in the financial crisis. i mean lots of people obviously tremendously damaged and harmed. but one thing you have to step back as a law enforcement person, criminal or civil, what is the evidence and can you make a case and can you make a criminal case. and so i think it's a matter of the s.e.c. in particular, i think has a very strong record. we're on and that's what she explained. what did you think of her answer? >> this is the answer that i get all the time. it's just really too hard. these cases are very difficult to prove. it's hard from the outside to say that there is enough toveed put somebody in jail. here is my response to that. let's take a case like sbc which bot got a $1.9 billion settlement a year ago. and in that part of the de

. >> mary joe white, come join us. have you talk about it. >> member of the top 100 today. >> mary joe white. let's hope mary jo white says maybe 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

here's what mary joe white said about is yesterday. >> are the markets rigged?an you be so confident? >> sorry, we have a hearing. >> former s.e.c. chairman richard breeden joins us now. he's also the former chairman of h&r block. where do you come down on this, sir? >> markets aren't rigged. doesn't mean they're risk free. doesn't mean you can't get hurt. >> high-frequency trading, good or bad? >> i think there's lots of areas in the world. when i was chairman, i issued a lot of the original permits to allow computerized trading. i think speed and technology are good things in the marketplace. >> what about this issue of both skr scalping on one side and front running? >> they're real issues. they're real issues that people need to pay attention to. look, you can go -- you go to disney land, they'll sell you a pass that for an extra cost puts you at the front of the line. ski resorts will do the same thing. there's nothing inherently wrong where if speed is more important to you, you pay a higher price. but the difference potentially is when you go to disney la

mary joe then 67 a broken wrist. and bill whitet age 71 lost his leg. >> when i woke up after the surgery, the first thing it donned on me is i have one leg. that's a shattering moment for you. you lay there to say, one leg. how am i going to live the rest of my life. >> reporter: you did write, i question god as to why. >> why me? what did i do wrong? and why did my life change this way? but i've learned to get over that in terms of it happened and i had two choices, continue to learn how to walk or to give up. and i'm not a person who gives up easily. >> reporter: no, none of them are. bill did learn to walk. and son kevin, he's running the boston marathon. you still feel the shrapnel at snaul. >> i do. it doesn't hurt. >> reporter: he explains why this is so important to him in his blog. the name of your blog is footsteps. >> yeah. for us it was to be a concept of footsteps was taking steps forward from where we were and with my dad that's literally walking so those are his footsteps forward. mine is training for the marathon an

new york democrat joe crowley says thrilled to be recognized by the center for the women of new york. florida republican is getting ready for next week. 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 gettin