[laughter] [laughter] wally: but i did make an advertisement in the early 80s for merrill lynch. i did all kinds of acrobatics and did a big enough for a helicopter run through it was wonderful because that i could be in chase plane she's never seen me perform. and for merrill lynch, the ball was coming out of the sun and then i had some words to say but as we were going back home in the same setting, and mother was in the chase plane and i was right next to her. tears were coming down our eyes we could be up and they are together and she had her wish prayed and pass it on to her daughter. flying. >> is wonderful, they must've meant so much to her. wally: and i didn't know about this until about four years ago, she had just told me. >> i really wonderful woman. wally: yes she was great. >> is nice have some support. the must've helped in your career. and it have the support and the friends pretty. wally: the before pretty i grew up in an area where you had free spirit. it was no range. i was brought up by the indians and the pueblo and they taught me how to fish and hunt and camp

you had ftx lending from trading operations and if you have an account at merrill lynch or morgan stanley they can't do this, don't know where the regulators were? we are getting investigators down before this happened? jack: carleton: we don't know how to regulate it but seems they were behind the ball and need to catch up fast. jack: we will see if it moves anywhere in the next congress. this was no surprise to anybody who follows naming rights of stadiums. explained that. andrew: if you see a comedy by naming rights, sell the stock. ftx did that with the miami arena. it is basically a sign companies are riding high, have money to burn, dubious imaging, enhancing activities so ftx did it when they were triple the current price. there's great history of disasters involving this. and ron --enron went bankrupt. if you have a portfolio you get companies like citigroup, fedex, citi field, which is in washington. at&t put its name on a number of things, united airlines in chicago. even amazon stock down 25% since bezos decided to put -- bought the rights to the seattle arena. bezos being bais

there were a lot of big powerful companies, wash mutual, merrill lynch, bear stearns, got rescued by bigger players. is that possible here? is that necessary here how do you see the movie ending? >> it is necessary ftx was the biggest player they were supposed to be the lender of last resort. if binance is out, binance is the largest company in the space, if they're out, i don't think there is someone to bail out the international business for ftx u.s. they hold that dcl license, which is fairly valuable and hard to get so there may be someone after a bankruptcy proceeding, maybe they swoop in and get the scraps, as it were for ftx international, i don't think there is a buyer aside from binance it doesn't make sense, especially with a $6 billion hole i just don't see -- i don't see that story ending well >> so, we can look at this wall over here and show some of the investors in ftx, softbank, blackrock, paradigm, among others how will it hit them if this company implodes >> it's not good it's going to hit them hard. it's going to also, like i said, set the space back i don't see, y

imagine if bank of america was behind the scenes funneling money to merrill lynch customer deposits.was, i think, the most egregious thing, and when customers caught wind, they started demanding their money back, and it was a run on the bank. they did not have the capital requirements. it has just been a catastrophe, and it has rippled to all manner of crypto assets. >> is there any institutional exposure? if you are an individual who never bought or sold cryptocurrency, could you be affected? >> i think that is what is keeping certain regulators up at night. once this jumps the pond from the crypto westworld into regulator banks, the too big to fail banks, j.p. morgan, citi, some smaller bank in paris suddenly went off the reservation, but i will say these banks have been susceptible to stress test since the crisis, since they did go off the reservation, if you will, and regulators, at least in the united states, demanded they keep cash on their balance sheets. it is not as fungible as saying i have a ton of these tokens. investigators have really looked askance at that. they say yo

talking to somebody the other night about the big financial advisory firms like jp morgan and merrill lynchnd wells fargo. and, and this person was a black wealth manager. and she said, i just want them to stop gaslighting us. okay. but nothing like that was really talked about publicly, quite like there were these small references to like once you've had a bad experience at a big firm and you want to go out your own, and that's something that the conference was like very much about how do we break away from the industry and and have success in spite all of the barriers? i think that conference was helpful to people who attended the other conference that i write about in the book that was like the polar opposite. it was a an industry trade group for like the big financial institutions. usually when this industry trade group meets, it's called stiff my the meetings are just like these enormous. it's very like like fancy gatherings with like 2000 people, you know, it's mostly white men in suits and their diversity conference was like 130 people in a room in new york. and no one who was there

imagine if bank of america was behind-the-scenes funneling money to merrill lynch, customer depositsast egregious thing. when customers caught wind of that, they demanded money back, and it was a r on the bank. they did not have the collateral, no capital requirements, no regulation. it has been a catastrophe and it has rippled to all manner of crypto assets. amna: outside of crypto assets, is there institutional exposure? if you have never bought or sold or held cryptocurrency, could you be impacted by this massive collapse? roben: i think that is keeping certain regulators up at night. when this jumps the pond from the crypto west world into regulated banks, the too big to fail banks, j.p. morgan, citi. a smaller bank in paris went off the reservation. these banks have been subject to stress tests since the financial crisis and which off the reservation, if you will. regulators at least in the united states demand they keep cash on their balance sheets and they are there in case a run like this happens. it is not as fungible as saying i have a ton of these tokens, it is cash like. re

tectonic plates of the global financial landscape are shifting under the earthquakes of lehman, merril lynchstoric, chaotic. >> a nation that was once the world's market envy is increasingly becoming the world's market pariah. >> it's hard to connect the dot s on how they make utility and survive. we're typically in this environment. david: the worst week ever for stocks. >> we're watching history being made and out of the corner of my eye i'm looking at wall street. gerri: now, today's investors aren't facing the wave of bankruptcies or liquidity crisis, and a weakening housing market is not having ripple effects that led to that kind of chaos we just saw but they are navigating record inflation and the lingering effects of the generational pandemic that is causing market turmoil and ended our longest bull market in history. the big question, could it happen again? well, as you know, history doesn't typically repeat itself, but it does often rhyme. that's why fox news podcast rewind series is back with some of our favorite fox business anchors including the great neil cavuto and of course d

she has a massive fraud of merrill lynch they fraud of merrill lynch and they empty what's empty and you much. i've been patrick you very much. i've been patrick christys. back christys. i will be back again tomorrow pm. i'm with you all tomorrow at pm. i'm with you all the way through dragging you kicking through the way through dragging you kickafternoon, through the way through dragging you kickafternoon, into through the way through dragging you kickafternoon, into the through the way through dragging you kickafternoon, into the evening. the afternoon, into the evening. but stay but make sure that you stay tuned for wonderful emily tuned for the wonderful emily carr . hello. tuned for the wonderful emily carr. hello. i'm aidan mcgivern from the met office. a welcome break this afternoon for many of us from but not for us from the rain. but not for all of us. still some showers out eventually the cloud out there. eventually the cloud will across leading will break up across uk leading to a chilly night in places. we're in between weather systems at the moment still the legacy of m

that is not how you went races in places like merrill lynch and massachusetts. this is a place where trump's endorsements had any effect. more -- wes moore will be the governor there and becomes the first african-american governor and maryland history. the tossup and closest races i am watching tonight our wisconsin with tony evers, tim michels, to select in nevada is still i think the most in danger . joe lombardo has run and won in clark county there. and republican is not going to carry clark count but if you can just decrease the margin that they usually lose by. in nevada it always really comes down to a county, reno there. still a very close race. she is facing attorney general schmidt but her popularity has remained high. with that type of campaigntrated schmidt has been running and felt like he waited too late to begi his cn and capitalize on different things. there is a possibility we could see laura kelly hang on. they do not follow trends as much as we think because you are not voting for who you want to control a body like you are in the house and se