but former treasury official neel kashkari who also worked at pimco helping turn around a whole nationalify cash carry -- kashkari to replace brown in the governor's mansion? he will make his pitch to you, the fox business screwers, in a -- viewers, in a fox business exclusive. stay tunedment. ♪ ♪ ♪ ♪ ♪ liz: what are the big problems on the horizon for the securities and exchange commission when it comes to enforcing what we've been waiting to hear about, and that is the volcker rule? charlie gasparino here with exclusive details from people close to the agency. once again, explain to our viewers the volcker rule. >> well, this is not just the volcker rule which is the ban on proprietary trading, using your own capital to take risk positions in the market which is a pretty big thing for every firm because it's unclear whether that is different from making a market a client. let's back up a minute. this is one of the three major problems that the sec faces in 2014. these are major problems in terms of enforcement, mary jo white's the new sec chairwoman, she's someone who has revived, i

neel kashkari here in california.e will have much more with him after this quick break. ♪ >> welcome back to "bloomberg west." we return now with our interview with neel kashkari. i want to talk to you a little bit about some of the tensions simmering around any quality in the bay area. the war on the 1%. compared it to the persecution of jews in germany. he apologize for the metaphor but he believes the 99% as demonizing the 1% when it comes to protesting against things like this. a i think this is all about lack of opportunity. we'll may have economic growth with a completely failed education system, inequality expands massively. we make a fairer society by making sure kids get a good education. i've visited some great schools that have taken the most disadvantaged kids and open their future through great education. if we put people back to work and we fix the schools, then we truly have an america talks the tocrcy. i understand it. california schools are ranked 46 in america. if you travel around the bay area, this

i can't wait to hear what neel kashkari has to say. thank you so much.it. >>> up next, he's a five-time consecutive jeopardy winner. critics are vilifying him, saying he is playing the system. he's not doing it right. he's laughing all the way to the bank, and he is not done yet. arthur chu is here. he can never have too much "money," i promise you that. >> over $100,000, that tells you everything. ♪ ♪ melissa: okay, i want to show you frontis stock right now, because it is really popping. take a look at those, those investors are really happy, up better than 10%. frontier communications' fourth quarter profit more than doubled. versus a year ago period. and you can see they roughly tripled their size in 2010 after buying more than five million rural land lines, aad their investors are liking this most recent report, so a very good day for those guys. livestock but a big mover. >> what is don't be cruel? >> correct. what is non sequitur? what do i stand for? , 800. >> arthur chu cleaning up on jeopardy again last night be, his total winnings topping 900

we have work to do here. >>> politics and business with former treasury tarp czar, neel kashkari.rlines. we get an update on cancellations and when flights will take off with the ceo of flight aware. i don't want to think about the alternative. i don't even know how to answer that. i mean, no one knows how long their money is going to last. i try not to worry, but you worry. what happens when your paychecks stop? because everyone has retirement questions. ameriprise created the exclusive confident retirement approach. to get the real answers you need. start building your confident retirement today. there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] introducing fedex one rate. phone: your account is already paid in full. oh, well in that case, back to vaca

he will be running against neel kashkari, potentially a republican candidate for governor.e is often called the $700 billion man known as the architect of tarp, former assistant secretary of the and member of pimco. he joins me now. you very hip to the new technology these days. you are big on twitter and instagram and you take s a lot of reverseelfies. >> i want to take one of you. >> you're also an engineer by background. you used to work at nasa. >> my first job in california was for a nasa contractor. how could that have helped you as a politician? >> it helped me in washington because policymaking is problem-solving and when you try to unravel a problem, that's what engineers do all day. my engineering helped me when i was in washington. >> you welcomed jerry brown on twitter and you twisted " even though you don't want to house them, we will give the 24% living in poverty of voice." >he has record approval ratings. what makes you think you can win? >> he has high approval because people generally like him but only about 1/3 of voters think he should be reelected. for

now, you remember just two days ago we had neel kashkari on, he's running as the republican candidate. be an interesting race. we do have governor jerry brown having turned what was a pretty significant deficit into a smaller surplus, but a surplus nonetheless. once again, governor jerry brown going to go for it once again, running for re-election. by the way, next wednesday i'm going to california, and we will be with governor jerry brown because he is striking an innovation partnership with the prime minister of israel, benjamin netanyahu. we will have a first on fox business interview with netanyahu next wednesday. stay tuned for that. >> closing bell ringing in 45 minutes. weight loss is a $40 billion industry, and some americans will do or spend anything to shed the pounds. that's why companies like nutrasystem are making handsome profits. they've just come out with numbers that the market didn't love, but the stock is up more than 100% over the past year. dawn has been at the helm of that turn around of nutrasystem. coming in live, first on fox business, we'll ask her about the

now neel kashkari is running to be the next governor of california. tarp, has become pretty controversial among a lot of republicans. do you regret anything you did as the architect of that program? >> we hated that we had to do it. we wanted to let all the banks fail because they deserved to fail. so when we faced the entire economy collapsing into the great depression, we said, we must intervene to protect the american people. but if we're going to do that, we're going to protect the taxpayer. my program, we deployed 422 billed, stabilized the economy. we got every single dollar back and beeven made a $13 billion profit for the taxpayers. so horrible situation, but i think we made the best of it. >> you don't regret what you did at all? >> no. >> absolutely. so you're running for governor of california, the state's got a lot of problems. quickly explain -- one thing no one ever mentions is the flood of low skilled immigration into that state in the 30 years since i grew up there. do you think that has in any way contributed to the failing schools or

>>> plus, neel kashkari will join us for a special interview. >>> cnbc compiling a list of the 25 greatestentury. who should make the list? we've been batting that around this table for the past week or two now. today though we have a face-off for you. the battle of the central banking big wigs, sara eisen will be making the case for mario draghi and steve liesman to argue for ben bernanke. kick it off. >> it's always easy to argue with steve. draghi is a hero. he single handedly saved wrurp from imploding, before he came on the scene and took a number of steps to fight the crisis. here's what did he, he dug deep in his tool kit, innovated and moved quickly, cutting interest rates. remember the money he infused to the banks. and the real genius moment came with the omt, it's a lot of alphabet soup. it was a program in which the ecb could buy bonds in an unlimited amount, countries could sign up for this. here's the kicker. they had to accept conditions, strict fiscal rules that was the key psychology from the markets. he never had to use it. the mere idea of it was enough to calm. the fact

and bigger than eog, those were companies that exploited the balkan, i think california if -- neel kashkari he's talking about it being the engine, oil and gas. this could be very big for the state. >> which it was very big for the state. >> kern river was the biggest. not texas. >> do have a statement out here from men's warehouse another story we're, of course, following this morning in light of joseph a. banksati' decision acquire eddie bauer for $825 million and you can see shares of men's warehouse are down sharply. in light of joseph a. banks' decision not to engage in discussions with us about a combination that would provide shareholders with a substantial premium and immediate and certain value the board together with its financial and legal advisers will evaluate our options with respect to joseph a. banks. not too much to share there. they have, of course, if you recall submitted nominations for both the chairman and ceo positions for the 2014 annual meeting so they are still challenging there. did speak to rickie st. louis this morning a large shareholder in both and he didn't h