that is what michael lewis says.k frequency trading with the man who investigated it, the one and only new york attorney general, eric schneiderman. >> media companies are soaring. are they overpriced or is it still time to buy? generation cane. the former news anchor who says his startup will make you smarter a lot sooner. welcome to "market makers." i am stephanie ruhle. >> and i am erik schatzker, everybody. michael lewis of the stock --kets are written against rigged against ordinary traders. complicated stuff. michael lewis simplifies it, makes it so easy to understand in his new book "flash voice." streethat people on the are talking about. here is what he had to say on "60 minutes." >> the stock markets are rigged. the most iconic global capital markets are rigged. >> by whom? >> by big banks and high-frequency traders. >> two weeks ago new york attorney general eric schneiderman said he was looking high-frequency traders and the changes they work with. here it -- he is here with us this morning. would you agr

power and associates. >>> the stock market is rigged, that's the thesis of the new book by michael lewis." lewis got the "60 minutes" treatment last night. listen to how strongly he's stating this argument the stock market's rigged. the united states stock market, the most iconic market in global capitalism is rigged. >> by whom? >> by a combination of the stock exchanges, the big wall street banks, and high frequency traders. >> here we are on the floor of the new york stock exchange. ben, albert, and bob. obviously, these comments resonated. we've been talking about it for a while. >> years and years. a big megaphone to get attention for it. look, we've got concerns about high frequency trading. i'd like to see changes. but rigged? >> overstatement. >> for sure an overstatement. definitely high frequency traders that would like to charge you a penny for your liquidity and the right to buy stock. >> it was a powerful image to show how fast they can get it and how fast the price can disappear. >> the fastest one into the crowd the successful trade. years ago on the floor of the new york

is michael lewis right? is the stock market indeed rigged?o talk about it, tom sposhg and his partner at buckley sandler law a financial services law firm and a former s.e.c. attorney. and look who also is joining us, the newly retired, how about this for retirement, larry kudlow, who is following this story, of course, very carefully as well. is the stock market rigged, larry? >> no, i don't believe it is. i think there are imperfections. i think mike lewis is a very bright guy, has fingered some of the imperfections. i'm not sure he got this story as accurate as our own bob pisani had the story, but i encourage everybody to read bob's memo this morning but whatever, there are imperfections and there are dislocations. nobody likes to see that. certainly for retail investors who still haven't come back, you want a level playing feel. perhaps the s.e.c. has some more work to do. is the overall market rigged? is this the reason why we've had this huge gain for five years? no, absolutely not. >> and, tom, it seems to be sort of two different thi

stock markets are not commenting, but the president of another exchange says he disagrees with michael lewis's allegations and says it is unfair and you're responsible to accuse people simply because of using new technology. listen to a key element from the lewis interview. >> the stock market is rigged. the united states stock market, the most iconic and global capitalism, is rigged. >> by whom? >> a combination of the stock exchanges, the big wall street banks and high-frequency traders. >> high-frequency traders account for about half a share volume in the u.s. >> arthur levin has been phenomenal on this. we him to permit has been just angry -- leon cooperman has been just angry. >> michael lewis will be joining "surveillance" thursday at 7:00 a.m. eastern time, author of the new book "flash boys." question, loaded which is why we are asking it today. our twitter question of the day -- it is a loaded question. weekend in new york city. we hope you had better weather. it was a four-hour meeting with the secretary of state of u.s. and the foreign minister of russia, agreed to disagree. should

michael lewis' new book "flash boys." >> stock market's rigged.states stock market, the most iconic market in global capitalism is rigged. >> who are the victims? >> everybody who has an investment in the stock market. they're able to front run your order l. >> what do you mean front run? >> they're able to identify your desire to buy shares in microsoft. and buy them in front of you and sell them back to you at a higher price. >> our next guest designs algorithms for high-frequency trading. she's author of "high-frequency trading." and managing partner of able alpha trading, irene aldridge joins us onset. to be fair, you're on national tv. you're trying to explain a complex issue to a mass audience. you're going to simplify things. you say that michael lewis is not qualified to comment on this topic. why is that? >> i think michael lewis has been a stay at home dad for quite some time and is completely out of the industry and has absolutely no idea what's going on as his last book illustrat illustrates. i have not read his book, i only read the "

it's all about water and regardless of this study, diet soft drinks are going to decline. >> michael lewisflash boy" the talk of wall street today. lewis says the market has been completely dehumanized, existing only inside of black boxes and heavily guarded buildings he says in new jersey and chicago. on balance, robert, is this a bad thing or good thing? >> it's interesting to see the media react to him today, saying look, we all knew this. the debate's been under way for awhile and this is nothing new. what michael lewis is so good at doing, when his book on baseball, "money ball" came out, the baseball world was saying we all knew this but he brings it to a bigger audience. he changes the way america looks at things. this will change the game for high frequency trading. >> sheila? >> this may change the game but you have to be really careful with headlines like this. bob pisani makes this point all the time. if you are a mom and pop investor or retail investor, it has never been cheaper or easier or technologically more efficient to get into the market. that's an important point that c

barra will be answering tough questions about the recall from house and senate lawmakers. >>> michael lewis'sinteresting conversation this morning. lewis called the stock market rigged in favor of high-speed trading. >> the stock market is rigged. >> by whom. >> a combination of the symptom exchanges, the big wall street banks and high frequency traders. >> lewis's book highlights a trader named brad katsuyama. the methods while legal cost the rest of the markets billions of dollars a year. he figured out a way to defeat the problem and has launched a new exchange that he says will level the playing field. we've talked a lot about this this morning. we'll continue to talk about that. our guest host for the hour as we mentioned, one of "squawk box's" very own market masters, he's on set with us this morning, neel kashkari. he is a gubernatorial candidate for the state of california. he is also as joe mentioned former head of global equities at pimco. it's great to have you here. >> does he get to keep his market master status now that he's going into politics? how does that work? >> that's a g

we will look ahead at the second quarter. >>> and michael lewis probably the

kauffman was right and it goes on unabated as michael lewis points out. by the way, lewis will be on "power lunch" tomorrow and this is something i think you should see at 1:00 p.m. tomorrow because he's right. now, front-running is technically illegal. if someone in a brokerage firm knows of a big custom order, let's take to buy 100,000 shares of jc penney. and another broker right next to him buys 100,000 shares ahead of the customer and then sells it to him and scalps a penny, that person will be prosecuted, probably goes to jail. yet, if a high-frequency trader runs ahead of that order and scalps say a penny, nothing happens. somehow that's legal. it's absurd, but the sec has blessed this behavior by doing nothing about it. oh, and by the way, theoretically, it's impossible for these bandits to lose because they're never at risk. they know you're coming with your order and they always beat you to the punch every time. as my friend the well-known investment adviser bert doman points out, a pickpocket working his trade never has a losing day either. how

michael lewis is about the inside scoop. now taking aim at high frequency traders. eamon javers has a sneak peek at his new book. >> i can't tell you how he obtained pages of michael lewis' new book which doesn't come out until monday but we've been able to read some selections from the new book ahead of the publication date. this will get a lot of attention on wall street. michael lewis is a master at taking really complicated subjects, drilling them down and creating fascinating narratives you have to read along with. he's done that now for high frequency trading. a critical look at it and viewers of your show know we've been following all of these issues all along for a couple of years now, now that michael lewis is doing it though it's going to get a new level of attention. let's read one excerpt of the pages. he writes, high frequency traders went open every night with no position in the stock market. they traded mt. market the way -- they traded the market the way card counteders in the casino played blackjack. they only traded when they had a edge. obviously,

probes were announced just ahead of a much anticipated book on the subject by best-selling author michael lewis boys." in it, lewis argues that the stock market is now rigged to benefit a group of insiders that have made tens of billions of dollars exploiting computerized trading. the story is told through an unlikely cast of characters who figured out what was going on and devised a plan to correct it. it could have a huge impact on wall street. tonight, michael lewis talks about it for the first time. what's the headline here? >> michael lewis: "stock market's rigged." the united states stock market, the most iconic market in... in global capitalism is rigged. >> kroft: by whom? >> lewis: by a combination of these stock exchanges, the big wall street banks, and high frequency traders. >> kroft: who are the victims? >> lewis: everybody who has an investment in the stock market. >> kroft: michael lewis is not talking about the stock market that you see on television every day. that ceased to be the center of u.s. financial activity years ago, and exists today mostly as a photo op. this is the s

the best day for stocks in exactly two weeks but the big story today is the best-selling author michael lewisaying on "60 minutes" last night that the stock market is rigged by a gang of high frequency traders, stock exchanges and wall street firms. it makes for a really nice headline but what's the reality here? bob pisani at the nyse, give us the reality. >> well, look, michael lewis made some very, very bold comments on "60 minutes" last night. let's go right to it. here's the quotes heard round the world. >> the stock market's rigged. the united states stock market, the most iconic market in global capitalism is rigged. >> by whom? >> by a combination of the stock exchanges, the big wall street banks and high frequency traders. >> that's a pretty bold statement. a cabal of individuals and firms are rigging the stock market. look, guys, you and i, all of us at cnbc have had problems with high frequency trading. we talked about it for awhile. but as a general principle, there's a couple things almost everybody agrees on. the first one is information should be available to all participants a

michael lewis is going to make an appearance here on bloomberg. he will be on "market makers" on wednesday and then on "surveillance" on thursday, right here on bloomberg television. from wall street to washington, gm's new ceo is set to testify before congress. did the company reject a plan to install new ignition switches -- and interview with the star super -- star basketball player. at the box office this weekend "noah" grabbing the number one spot. the biblical epic at the starring russell crowe rang up $44 million. >> man corrupts this world. >> a great flood is coming. ♪ >> general motors recalling 2.9 million cars because of faulty ignition switches. newly released documents show the company decided not to fix the problem all the way back to 2005. the reason was supposedly it was too expensive. our resident car guru matt miller weighed in on what this means for g.m.'s bottom line. >> g.m. kicked it off with the corvair and their battle with ralph nader. that started mitzvah. then they have a problem with side saddle tanks in their trucks c

that's better that the 4% that economists had predicted. >>> michael lewis, the author of such books as "money ball" and "the big shot" says u.s. equity markets are rigged in favor of high-speed trading firms. lewis' new book "flash boys wall street revolt" coming out today. the methods and technology that make high-speed trading illegal and restrictions are regulated, but appearing on cbs' "60 minutes" he says that's used to profit others. >> if it's so complicated that you can't question it. >> this is all being done by computers. >> it's too fast to be done by humans. humans have been completely removed. >> earlier the new york attorney general eric snyderman said he believes the high-speed trading firms gives an unfair advantage. he's began to meet with nasdaq and other exchanges to discuss possible reforms. so is this just a clever promotional tool or are equities really being distorted by apple computers? join us and e-mail us at worldwide@cnbc.com or twe tweet @cnbcwex. >>> we also have news coming out concern i concerning capital hikes. they say a top investor sold shares of t

flash boys, a new book by michael lewis, suggests the u.s.ock market is rigged to benefit a few insiders, so-called flash trader. he shoek with steve kroft on contract 60 minutes" last night. >> they're able to see your order and play it against orders you don't under. they're able to front run your order. >> what do you mean front order. >> means they're able to identify your desire to buy shares in microsoft and buy them in front of you and sell them back you do at a higher price. it all happens in infinitesimally small periods of time. the speed at which traders have is milliseconds, some is fractions of milliseconds, but it's enough for them to identify what you're going to do and do it before you do it at your expense. >> you can see steve kroft's entire "60 minutes" interview with michael lewis at cbsnews.com. >>> jurs selection begins today in california in a new major court battle between apple and samsung. apple accuses samsung of infringing on five patents on the design of its galaxy smartphones and tablets. the trial comes less tha

that's the new michael lewis book, flash boys about high frequency trading.g a 60 minutes on it tonight. i want to run one sound byte for you on 60 minutes and get your reaction to it. listen to michael lewis on this interview coming tonight. >> it is rigged. >> wie whom. >> by a combination of the stock exchanges. >> who are the victims? >> everybody who has an investment in the stock market. >> i have to assume that you do not believe that the u.s. market is rigged. i do not believe that. what about that perception? >> i think it's a staggering exaggeration to say that the market is rigged. that said, high frequency trading has been a concern of mine for a long-term. it's what they call a sum game. if someone trades a nano second ahead, somebody else has to lose. if it's people who are building the dedicated fiber optic cables of those who are winning, the rest of us as ordinary investors who are losing out. important reforms in the area have been overdue for a long time. the right thing to do is instead of allowing training to be continuous to have an auct

>> a classic michael lewis book.inancial topics and boiled them down to where it's easy to understand. that's what he's done here in "flash boys." it's a very critical look at high-frequency trading. one excerpts from the excerpts we obtained today. talking about hft. more places there were to trade stocks, the greater the opportunity there was for high frequency traders to interprose themselves between buyers on one exchange and sellers on another. the irony here, computerized trading was to rule out that was inefficient. computers were supposed to be bring about great reform. ultimately, they didn't. another way for middlemen to extract $10 million to $20 million on tax on traders. a very tough look, here, some heroes, sol villains. lot to digest. >> eamon, we know everybody's going to be talking about it. look, one of the interesting things, one of the reasons i want you to read it, because he's taking issue with intermediaries in the markets. shouldn't the discussion really be about how much they cost? >> yeah, i

author michael lewis dropped a bomb on wall street last night.

it's michael lewis's interview on 60 minutes. a is it possible we could see market manipulation cases in the future due to high frequency trading which michael lewis said was outright unfair? charlie gasparino here with detail. i was a little un-plussed by the piece. nothing in there that was knew except the guy who figured out how the broadband works. >> i was somewhat administer undeoverwhelmed. these high frequency traders can figure out what you're doing, just from alg all algorithms and trade ahead of you. when they say you, you in mass. if a lot of people, it can figure out were people want to buy apple on a thursday before earnings or something sources close to the manhattan u.s. attorney's office, that office is interested in making some sort of case involving market manipulation and high frequency trading. that office has been, has been looking at this issue. i would say based on my sources, at least since mid2013, they have been looking at, they think they're where there's smoke, there's fire. we should point out she's

michael lewis was careful to say that is illegal in this case but why?s is legit question. >> nothing is being done to stop it. will you touch on this? >> we will. >> thanks, jerry. >>> new developments in the major recall. 13 deaths linked to gm deaths and congressional authorities are saying this could have been prevented >> someone within the party is offering change in the affordable care act. fair and balanced debate on that >> individuals are making their own decisions on this. 2-1 more people believe they are hurt by the health care law than helped. and that is why the last week's poll only 26% of americans support the president's health care law. woman: everyone in the nicu -- all the nurses wanted to watch him when he was there 118 days. everything that you thought was important to you changes in light of having a child that needs you every moment. i wouldn't trade him for the world. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. if you're caring for a child with specia

michael lewis, you know, it's of course a brilliant writer. he spent two years at salomon others. i spent 17 years. i really understand that you salt of wall street. i really understand the way it works. i figured that it is my duty, the reason i am here, not here, here, but here on earth that this point is to translate the insanity of wall street for people in america so they can really understand what is happening here and why. that is what i sort of devoted myself to. believe it or not, even though my new book seems sort of like michael lewis' moments weren't going away from covering wall street to support in fact it's really a part of the same equation frankly because of course the two graduates populate wall street in record numbers and it is all part of making sure that a privilege and delete have the raw material with which to work for and perpetuate themselves. by the way, i am part of that. i'm a duke grad who worked on policy for 17 years. i do know what i'm talking about. let me just spend a few more minutes talking about what happened here. barbara is absolutely right.

best-selling author michael lewis talks about it for the first time tonight on "60 minutes." >> pelleyechnological marvel that scorches the pavement-- zero to 60 in four seconds. the tesla model "s" is another revolutionary idea from the mind of elon musk. he's changing the car the way steve jobs changed the phone.

brad pitt's plan b production studio and paramount pictures will adapt the best selling book by michael lewis: "the big short: inside the doomsday machine". the book was published in 2010 and chronicles people who predicted the crash. an oklahoma girl scout has broken a 30 year record by selling more than 18-thousand boxes of cookies. 11-year-old katie francis says she asks every person she sees if they will buy a box of cookies. she still has a few days -- until the end of march -- to pad her current total of 18,107 boxes. the previous record was 18- thousand boxes sold. it was set in the mid 19-80s. still to come: healthcare hunt. how to stay savvy while shopping for insurance. plus.....how one company is using snow to market "fun in the sun." and...the company that's benefitting from bringing google glass to the mainstream. we'll be right back! investors in luxottica group are enjoying an eye-popping move in the stock. luxottica shares rallied more than 4% yesterday on a new connection with google. google plans to have luxottica design "hip" frames for "google glass". google glass is $1,50

welcome. >> thank you. >> so high-frequency traders, as shown by michael lewis and steve kroft, is it illegal? >> it's been around for a while, not illegal. what michael is talking about are high-frequency traders who use their speed to take advantage of cracks in the foundations of our market. as i think he explained in the "60 minutes" piece, we now have 60 public and private markets that are linked up, and there are cracks. there are places you can get to faster than other people and front-run the market. what's improper is front-running the market, using any special advantage or edge with your speed to have an unfair advantage over anyone else. there's an assumption in the marks that everyone's allowed to do research but they're fundamentally -- >> is what they laid out last night illegal? >> some of it i believe, may be illegal. our office's had an investigation for over a year in some practices related to high-frequency trading. there was a situation we dealt with last year where we found that thomson reuters, which releases surveys of consumer confidence, was giving a two-secon

michael lewis to join us this wednesday at 10:00 to talk about his new book.not want to miss it. 1.9 5 trillion in cash. march madnessby companies. doesn't it seem like there should be 1.5 trillion reasons to overhaul the tax code? plan to repair faulty ignition switches. testifying before congress. ♪ >> tomorrow the senate chairman will grow about whether the senate has improperly avoided taxes. this comes back from 2009 when an employee claims they shifted to offshore companies, avoiding more than 2 billion in taxes. caterpillar is not the first to receive that kind of guernsey. microsoft, hp, and apple facing congressional pressure. u.s. multinationals have accumulated one point nine $5 trillion outside the u.s. according to security filings. still here with the republican from new jersey. it seems to me that what is really at issue is the u.s. taxes. we are incentivizing companies to park money overseas. >> thank you. like i am still here that congressman garrett. how is that? >> what i was thinking of is when members of congress met instead of looking at

michael lewis and high-frequency investors have made lots of money by taking advantage of legal loopholes in the u.s. stock market. the author has a new book out. he showed that his research for will makeill be -- some stunning conclusions about the traders. ,> united states stock market the most iconic market in global , by whom?, is raked by a combination of the stock exchanges, the big wall street banks, and high-frequency traders. the general manager for china has left the firm. chief executive elon musk is said the chinese sale story should match american levels as soon as next year. it is announced it will only use raw material source in north america for its proposed u.s. factory, the giga factory as they're calling it. >> we will head back to istanbul as turkey's prime minister vows a tract on creators -- on the aitors. on trader ♪ >> turkey's prime minister is pledging to proceed traders. elliott gotkine is live in istanbul. you, guy. social media dominated the selection. not in the semi that it dominates others around the world, for example the united states. saw on of the blogs

michael lewis says high-frequency investors have made tens of billions of dollars by taking advantagegal loopholes in u.s. stock market. the author has a new book. he told the cbs show "60 minutes" his research for the book revealed some stunning conclusions about traders. >> the stock market is rigged. in globalconic market capitalism is rigged. >> by whom? >> a combination of the stock exchanges, the big wall street banks, and high-frequency traders. >> let's talk about the stock markets from a different angle. equity markets are building on last week success, except for the paris market which is being dragged down. it is that a downgrade from barclays. it comes down to the spanish and the italians. the italian market over 13%. over here, look at u.s. equity futures indicate 1/3 of 19% higher. higher. momentum builds toward the end of the week in terms of the nonfarm payrolls, the unemployment numbers today. the currency, we've had the lowest inflation level in the eurozone in four years. down the euro-dollar went. we were on one month lows. traders are covering the physicians for t

in the latest book author michael lewis claims that they ek extract billions from investors. >> the unitedk market the most iconic market in global capitalism is riged by whom? a combination of the stock exchanges. >> who are the victims? >> everybody who has money in the stock market. >> because these firms are using massive numbers to trade. the technology invests where they are buying and selling stock they are able to buy before transactions. therefore get a better price. the exchange commission is coming up with a fix. that won't come until 2016. the trading information will be much more trance pair p rent. >> the time now is about 12 minutes to the top of the hour. thrown from a moving car on a busy my way. how did this toddler survive? her grateful mom is calling it a miracle. >> spark ago new debate about the story of noah. did that great flood really happen and did the movies get it right? >> first let's check in with "fox & friends". >> coming up straight ahead on our show if all goes correctly. fox and friends will have this. last day to sign up for obamacare unless you are on t

that is according to michael lewis, author of a new book on the top i can called, "flash boys, a wall street resole" listen to this. >> the stock market is rigged. the united states stock market, the most iconic market in global capitalism is rigged. >> by whom? >> by a combination of the stock exchanges, the big wall street banks and high frequencytraders. >> who are the victims? >> everybody who has an investment in the stock market. gerri: here to weigh in teddy weisberg, founder of seaport securities. teddy, great to have you here. thanks for coming in. you know the markets very, very well. is it an uneven playing field for individual investors? is the market riged? >> well i don't know if rigged is the right word but yes there is an uneven playing field. gerri, the problem in my opinion is not high frequency trading. the problem is, how the government, the sec and congress, changed the landscape for how stocks trade. so this group of traders called high frequency traders have simply filled a vacuum. financial times publish adler that i wrote to them in september of 2010 on this v

michael lewis has the back page of the "new york times."now he's saying obamacare horror stores are not true. we want to know, what's up with harry reid? we report. you decide. >> that's right. and forget cigarettes and pot. the new dangerous trend among teens, smoking coffee. yeah, you heard it right. what every parent needs to know about that coming up. ♪ ♪ this is interesting. it says here that a woman's sex drive increases the age of 80. helps reduce the risk of heartisease. it seems that 80 is the new 18. grannies, bless your heart, you are bringing sexy back! eat up. keep heart-healthy. live long. for a healthy heart, eat the 100% natural whole grain goodness opost shredded wheat. doctors recommend it. i'm on expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for, because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by ou

author michael lewis says high-frequency investors have made tens of billions of dollars taking advantagegal loopholes involving the u.s. stock market. the author has a new book out. "60old the cbs show minutes" that his research revealed stunning conclusions about traders. >> the stock market is rigged. ,he united states stock market the most iconic market in global capitalism is rigged. by a combination of the stock exchanges, the big wall street banks and high-frequency traders. >> the intergovernmental panel on climate change has issued a warning. the group said climate change is no longer a hypothetical part of our future. it says the impact has already occurred. killerel pointed to the heat waves and the drought in australia as examples. china's president is in brussels for talks with several european officials. belgium is looking to increase its trade with china. the european bloc is china's largest trading partner. the party of turkish prime topster erdogan came out on in local elections even as a corruption scandal and crackdown on social media energized his critics. elliott gotk

michael lewis's hot new book says high-frequency trading is costing millions of investors billions oficey to fix a defect that killed at least a dozen people. our regulators just as much to blame? we will talk to a top washington consumer advocate. >> ding,

michael first to lewis, the department of the rhode island department of transportation. >> good morning, madame chairman. aching member vitter, distinguished members of the committee, i michael lewis, director of the department of transportation in rhode island. when i look at the powertel, i have experience with all of your states, many other states. college in the same state as senator booker. most of my courier was sent in acidge -- was spent in juices. senator barraza, john cox is iill represented by -- recently spoke with my counter product -- counterpart in nebraska, and these issues affect all the states across the country. i had the honor of testifying for you last september on the half of the 52 transportation departments. fromurrent president kentucky testified in february. today i will speak on behalf of my state, rhode island, and provide with specific impacts on a small state with high unemployment and the tier rating infrastructure -- and deteriorating infrastructure. my testimony provides a picture of the current funding crisis in rhode island, which i will summarize. isl

perhaps this book and michael lewis certainly has a lot of credibility after some of the other big hitsot of attention for this one, especially with the inflammatory remarks like individual investors are getting burned. and it's a rigged market. >> sarah, real quickly, the gm investigation, the latest? >> yeah, the recall has expanded, and now there are new questions about the regulators, why they didn't take action when they knew about some of the problems, the deaths led to the faulty ignitions. it will be a big week for that, because mary barra, the new ceo of gm, will be testifying before a house panel tomorrow, and then before the senate on wednesday. we're also going to be hearing about the regulators. so this is going to be a big one. >> they've definitely been trying to do some daily dollar short cleanup on this with barra out in front, or trying to get back out in front of this. we'll see how it plays out. cn cnbc's sarah eisen, thank you. >> thank you. >>> there he is, the legendary, charlie daniels, joining us on set next. keep it locked in on "morning joe." when folks in the

i've been here just as speed high frequency traders well according to michael ware was very lewis says quote the markets are rigged it's a bold assertion from the bestselling author and america's foremost chronicle or of all things financial now lewis his new book flash boys comes out today and on sixty minutes sunday night mr lewis shocked viewers with remarks like this about high frequency trading. insiders are able to move faster than you they're able to see your order. and play it against the waters in ways you don't understand they're able to order in forever means they're able to identify your desire to to buy shares in microsoft and buy in front of you and sell it back to you at a higher price it all happens. now what might be even more shocking to those in the know is the fact that any of this was shocking to anyone in the first place now we've discussed high frequency trading on this show before and just last month we told you about new york a tourney general eric schneiderman efforts to examine high frequency trading in fact on monday morning schneiderman said lewis said that

financial author michael lewis, who wrote sort of the bible of wall street, of the old ways to wall streetnew book "flash ploys," which explains how the high-tech wall street firms have advantages after you. high-tech traders see a buy order and use complex algorithms to buy stock ahead of you, drive up the price you pay. flash traders sell it for a profit, and by that, i mean the flash is so fast, some of the algos, they call them, are so fast, by the time you decided to buy a stock, they've made 1,000 moves. >> doesn't sound fair. it is the last day of the quarter, also the first day of baseball season. it is opening day. and i think we can all agree, go red sox. >> yep. >> thank you very much. "new day" starts right now. >> did you just get me to agree to go red sox? to go red sox? >> you said it! -- captions by vitac -- www.vitac.com >>> the effort is ramping up, not winding down. >> happening now, the race is find flight 370 is increasing in intensity. what is it like to search? see for yourself. special access alongside a ship hunting for debris. and an exclusive interview with the a

. >> get michael lewis on that. >> good luck with that. >> thank you, guys. >> thanks, guys. >> check our exclusive interview. coming up we'll talk to president obama's budget pregnanter sylvia matthews burrwell in the next hour of "the closing bell." we have about a half hour to go. a little more than that, bill. as mentioned, the dow just off the highs of the session, up 250 points. >> this feels like 2013 again. lately we've seen sell-offs in the last hour. not happening today. a strong day and we're finishing strong, at least so far. >>> meanwhile -- i don't want to jinx it. dawn of a new era of television distribution might be upon us. details of a ground breaking deal just ahead. >>> russian president vladimir putin dialing back the rhetoric today but dialing up a stock market rally here as more than 15,000 of his troops remain in ukraine. up next, we'll talk to our most recent ambassador to russia, michael mcfaul, an how he dealt with putin and what the end game here may be. that's coming up just after this. ♪ ♪ humans -- even when we cross our "t's" and dot our "i's," we still

michael lewis has a book coming out in a week and a half.i boomlet in discussion on market structure. i think it's terrific. it's about time we had a discussion. mr. cohen has a couple good points. i'm in favor of a kill switch. a kill switch would say if things go crazy with your algorithmic trading, you find a quick way to shut it off. >> chris, what do you make of all this? >> it reminds me of 20 years ago when jerry corgan left the fed in new york to become essentially the protector of the otc derivatives market and goldman was always sponsoring these meetings to talk about back office, structural office. i sit on a finra committee that talks about this all the time but we never talk about half the volume on the big board is from program trading. >> what are you saying? >> i think this is a beautifully executed diversionary tactic by goldman to focus us on structural issues instead of asking why we have program trading in the first place. >> those issues exist and if we weren't doing this way, wouldn't all the activity -- >> we have a ma

. >>> michael lewis's the big short about the housing crisis being turned into a movie.of "anchorman" movies will be directing it, according to variety, by paramount. >> i hope it's a parody. i hope it's like "anchorman." >> are they doing it as a comedy. >> i think they should do it as a comedy. i'd like to see "too big to fail" as a musical i'm thinking. >> there's a guy, recently, i kid you not -- >> i guy who writes musicals who approached me and said he wanted to turn "too big to fail" into a broadway musical. >> you did not dismiss that out of hand. >> i'm actually supposed to meet with him. >> there's money involved. >> do i know you -- >> like the back of my hand -- like the back of your hand. >> are you serious? >> i kid you not. i'm telling you the truth. >> can you dance? >> i can't dance. >> chuck prince can dance. come on. >> that's right. that's right. another down day. yes, i'm excited about this, this project. i'm not kidding. another down day for the markets. >> i'm not giving it high odds. there was an enron play on broadway. >> there was. >> that laste

survived by his second wife, mary belle and his children, jeremiah, donald, james, michael, madeleine, and mary lewis. the entire united states sends our prayers to his loved ones and we send our promise, jeremiah denton will not be forgotten. mr. president, i would yield the floor. a senator: mr. president? the presiding officer: the senator from montana. mr. tester: thank you, mr. president. mr. president, every senator in this body represents small town america. there are small towns across this country from connecticut, texas, to small towns in my state of montana. in fact, i grew up and still live outside one of those small towns, a town by the name of big sandy, montana, home to about 600 people. has no stop lights, the high school has about 60 students in it. and what makes america great is that we believe and we cherish the idea that whether you grow up in a town like big sandy or a town as big as new york city, you get a fair shot in life. a fair shot that includes the basic freedoms we enjoy as americans. it includes the right to a good education, includes the right to high quality, afforda

michael. >> we get flashflood warnings and squalls and biblical rains in your forecast? >> joe lewis're starting to talk about whether or not there's any possibility they can take these tents down in time for the show tomorrow. he hopes, yes, because he says the rain plan is ugly and the red carpet is everyone's first impression of the show and he wants it to look as beautiful out here as it will inside the theater. live on the red carpet, abc7 news. >> hope somebody ordered umbrellas just in case. tomorrow for the first time you can watch the oscars in a new we. catch them live on your smartphone or tablet with the watch abc app. you can use watch abc to get exclusive access to what is happening back stage. there's download information for the watch abc app at abc7news.com/apps. >> up next at 6:00, yosemite loves, act quick. what you'll have to do to catch the views from half dome. leigh glaser is next with the forecast. >> coming up in sports, defending pac-12 champs stanford opens spring football practice, and the cal bears have a devil of a time trying to slow down of a time tryi

michael. >> we get flashflood warnings and squalls and biblical rains in your forecast? >> joe lewis whether or not there's any possibility they can take these tents down in time for the show tomorrow. he hopes, yes, because he says the rain plan is ugly and the red carpet is everyone's first impression of the show and he wants it to look as beautiful out here as it will inside the theater. live on the red carpet, abc7 news. >> hope somebody ordered umbrellas just in case. tomorrow for the first time you can watch the oscars in a new we. catch them live on your smartphone or tablet with the watch abc app. you can use watch abc to get exclusive access to what is happening back stage. there's download information for the watch abc app at abc7news.com/apps. >> up next at 6:00, yosemite loves, act quick. what you'll have to do to catch the views from half dome. leigh glaser is next with the forecast. >> coming up in sports, defending pac-12 champs stanford opens spring football practice, and the cal bears have a devil of a time trying to slow down arizona state. ♪ turn around ♪ every now

joining me now is michael steele, my friend, my msnbc analyst extraordinaire, and former rnc chair. also ann lewiswonderful former communications director for president clinton. thank you both for joining me here. this is an important issue. obviously some very intense, very different takes from the two parties on this. i'll start with you, michael. conservatives in this instance are arguing that equal pay laws aren't necessary because they essentially enable lawsuits and log up the legal system. how widely held do you think that view is within the party? >> i think it's very widely held. i think it's not just held within the party, but certainly held within a lot of businesses that are run by both democrats and republicans around the country. it's a legitimate business concern. what the impact of a given law will have on the bottom line. does this lead to additional litigation down the road? does it tie up the works internally for the organization in terms of regulatory and other compliance requirements? so there are legitimate concerns there. i don't think any of that, however, negates the under

michael" will the stars be dry and tfree? >> when you get flash flood warnings and squalls and biblical rains in the forecast it gets your attention. >> reporter: joe lewis hopes that the tents can come town. they are ugly. he wants it to be as beautiful out here as it is inside theater. on the red carpet in l.a.,, abc marzullo, abc 7 news. >> katie will join us live from the red carpet talking to the winners tomorrow on abc 7 news at 11:00. >>> one intersection drying out after someone crashed into a fire hydrant. here is mess the mess left behi this afternoon. this picture sent to us by an abc 7 viewer. no one was hurt. >>> a major closure on highway 24 to tell you about. cal transis weg all westbound lanes to remove an old traffic sign. it will take five hours starting at midnight. >>> leigh glaser is tracking more rain tonight with live doppler 7 hd. dry up there? >> we have experienced a few brief showers off and on. right now just a few sprinkles coming down. get ready for more showers as live doppler 7 hd taking a rest right now. but it is still picking up a few light showers all the way up over towards muir beach and san rafael as well. and we ar

lewis. >> wow. that's a good one. >> what's your favorite show to binge watch? >> the good life. i'm a fan. -- the good wife. >> what's your guilty pleasure? >> golf. i play with michaelberg. golf with mike. he is an avid golfer. >> that's a nice guilty pleasure. of all the places you coul evenr been, where is your favorite? >> i learned the most in haiti. --ti is a tough lace to go tough place to go. it's a 45 minute flight from miami. deforestation has destroyed everything. i have learned more from illiterate peasants in haiti than anyone else i can recall. >> we had the identical conversation with the supermodel each are dad and the sports illustrated swimsuit edition. she moved there after visiting haiti and said that almost the identical thing. a 45 minute flight from amy. you're in good company. >> i have a lot in common with supermodels. [laughter] >> thank you so much for joining us. what a treat. back, havingme second thoughts? perhaps hedge funds went big on fannie mae and freddie mac. we will be back. ♪ >> live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanie ruhle. >> you're watching market makers on bloomb