the s.e.c.'s experience in overseeing securities markets in which participants have the choice of several different trading venues, what is each of -- what are you doing to make sure that the cftc has the benefit of the s.e.c.'s expertise in this area? and vice versa, maybe? >> well, chairman, we do have a very different kind of model in the u.s. equity markets that's quite dispersed. there are multiple venues, exchanges, electronic communication networks and even internalization of securities transactions. we think there's a lot of virtue and there's some downside as well, but a lot of virtue to that competitive model. we spent a lot of time talking to the cftc to the extent to which the exchange trading or swap execution facilities that will handle both security-based swaps and commodity swaps could benefit from understanding the -- what has worked well in the and the equity markets making sure they are not perfectly analogous. >> it has been tremendous cooperation around the s.e.c. i would add

and the s.e.c. union poll in the battle ground states and found 63% support for preventing republicans from extending those tax cuts above a quarter of a million. how do the democrats answer? they suddenly don't believe in polls. >> they don't have one answer. i was talking to senator bob casey of pennsylvania, who's a moderate democrat. no flame thrower by any means. he's got joe sestac running for the senate. in pennsylvania, to take one example, it's a clear winner. casey was telling me he would prefer to have a vote. he's a moderate democrat. there aren't enough people in enough places willing to do that. and harry reid has got his own personal problems back in nevada. he's under siege and thought of as a great inside moving guy. he's running for re-election. he doesn't want to have to defend right now any tax vote. david axelrod, the political spin master inside the white house is now telling everybody, you know, don't worry. we'll have the issue because we can talk about what we're going to do

according to court records, the s.e.c.ed they used deceptive messages to defraud 115 mostly elderly investors out of $1.1 million over 18 months. the case was settled and the men conceded no guilty and returned the money. a former gold line employee saying two men are training other salespeople for gold line and handling their biggest clients. in today's hearing, the executive vice president confirming that the men once under investigation are employees in good standing at his company. congressman wiener was interested in one scare tactic. glenn beck fearmongers in a web video for gold line. >> you see back in 1933, fdr said, we're going to take all your gold. gee, it's worth $8 an ounce. but some people got smart and they said, well, wait a minute. i've got antique coins. you can't melt these down. >> there's an identical radio ad done by either glenn beck in falsetto or some woman. gold line provides each customer with a copy of the 1933 presidential order, not so subtle subtext. obama is coming for your bullion. the mes

and the s.e.c. may impose new rules on high frequency traders after may's "flash crash." chairman mary schapiro says her agency is taking a close look at large numbers of rapid-fire trades made on may 6. speaking to a group of business leaders in new york, she said a final report will be completed by the end of this month. >> tom: still ahead, tonight's "word on the street" is "innovation." we'll look at three firms outside the tech world making a profit by innovating. here's a hint-- one is the largest employer in america. >> susie: in state capitals and city halls across the country, major budget battles are underway. tax revenues continue plummeting as property values remain low, unemployment is high, and consumers aren't shopping. all week, we're looking at how state and local governments are dealing with the cash crisis in a series we call "budget blues." tonight, we focus on california. the golden state has come to symbolize the budget crisis. its massive deficit-- $19 billion-- is bigger than any other state. nearly 150,000 state workers have been furloughed. tomor

that is why we were directed at the s.e.c. by the president and congress to develop an broadband plan and a strategy for a broadband infrastructure in the united states and brings high speed interpret to all americans. that is our goal. some of what we do is incredibly boring. we have cut red tape around poll -- pole attachment. we have adopted a shot clock for to your siting. these issues matter. overwhelmingly our broadband infrastructure in the united states, wired and wireless should be built by private companies. we need billions of dollars in private companies to do this. some of the things we can do is lower the cost of deployment so that a rational company will build more, faster, deeper. some members in congress has promoted this. we endorsed it in a broadband plan. if we are digging up roads in country, how can we do that and not lay fiber at the same time and save that money? so we are working a lot on these issues that should bring down the cost of deployment substantially. we have already taken steps around our er

the s.e.c. says the dallas billionaire sold his shares in internet company mamma.com six years ago, after receiving confidential information. allegedly, that information let cuban avoid a $750,000 loss. cuban says he didn't break the law. >> jeff: no more text messaging for truckers. that's the gist of a new proposal by the transportation department. it specifically bans truck drivers from sending texts while hauling hazardous materials. the d.o.t. also wants to stop train operators from using cell phones and other electronic devices while on the job. the department is also pushing states to adopt tougher laws against texting while driving. fuqutuuuuuu >> susie: have you ever talked with a younger co-worker or perhaps one of your kids, and they just didn't get what you said? so has tonight's commentator. he's harry lin, c.e.o. of taaz.com, a silicon valley start-up, and he has some thoughts on modern metaphors. >> at work recently, i had cause to think about something that made me feel sort of o

the s.e.c. wants the exchanges to explain exactly which firms entered and canceled orders those mornings. but so far, tom, the agency doesn't know whether that spikiness was an anomaly or what's called "quote stuffing." >> tom: that's when firms flood the market with bogus orders to get a trading edge. there has been a lot of talk about how unanswered questions about the flash crash and the weeks after that have perhaps except some retail investors away from the market. >> susan: we still don't have some of the answers. but in the meantime, give us the answer of what is going on in the market. >> tom: we broke four arrows of major indice. let's get you cisco is the last dow component not paying a dividend. the dividend talk helped the technology sector lead the way. hewlett-packard put in the best performance among dow components, adding 2.6%. speculation is increasing about the naming of a new c.e.o. meantime, one of h-p's biggest competitors took a swing at its buyout strategy. i.b.m. c.e.o. s

maybe that is the point, if he is obviously s.e.c.. the other picture shows the delegates with some of the leaders at the front. kim jong il's sister who has just been made a general is there, but his son, kim jong un, is not. this is north korean television tonight. the extraordinary thing is that nearly two days after the opening of the main party conferce tre has still been no coverage of it on television. why not? here is the main south korean news agency. they are trying to work that out. the agency's political analyst does not believe the leader is too sick to be shown on television. he thinks it is just north korea's reluctance to give out information of any kind. when a television pictures of the leader's son, kim jong un? >> the north koreans know that the outside world thinks it is weird to have three generations of the same family running the country. that is why i think it will build his image up at home through a propaganda, and only when he is established as a leader in his own right will the present him to the outside wo

on tuesday, the head of the s.e.c. said the so-called flash crash in may when the dow dropped nearly 8,000 points in less than half an hour, still has investors spooked. in response to that incident, regulators have put a pilot program into effect that briefly halts the trading of stocks that make wild surprise swings. >>> workers are paying a big other share of their health insurance. the average employee contribution for family coverage climbed almost 14% this year to an average of nearly $4,000 as businesses try to ride out the economic downturn. companies that offer benefits still pay about 70% of the total premium. >>> and google is holding a press conference today that has the tech world guessing. it's not clear what they'll be announcing but some think it might have something to do with the new google doodle they had on their home page on tuesday. now, this is the dots that formed and then scattered when they were touched by the mouse. i have to say, after a while, that just got a little annoying. i think i'm no

more importantly, perhaps, is a s.e.c. investigation into how it recognizes revenues. that sent investors fleeing, driving the stock down 16% on huge volume. the stock was at an all-time high just on monday. a single-serve coffee system has been a hit. a trio of specialty consumer companies turned in mixed earnings. r.v. maker thor industries rallied 14%, earnings and margins increased. greeting card maker american greetings saw higher costs and drop in sales. shares fell 9%. and mattress maker sealy also saw sales fall, as did its stock today. and that's tonight's "market focus." >> susie: it's as american as apple pie, but is owning a major league baseball team a license to print greenbacks? for some smaller teams, it can be. that's because about a decade ago, major league baseball began an "all for one, one for all" policy when it comes to revenues. as ken burns' baseball documentary "the tenth inning" wraps up tonight on pbs, we wrap up our stories on "the business of baseball." jeff yastine tackles revenue sharing and explains why, for some teams, it pays to lose.

now, dozens of committees linked to the s.e.c. and c.f.t.c. are starting to do just that right now. but the process is pretty technical, and it doesn't occur in the glare of the public eye. it's crucial, though. take one example-- though dodd- frank will put "standardized" derivatives on a central platform, no one know how "standardized" will be defined, and so no one knows how many contracts will be captured. that matters a lot for bank profits. there's a lot to play for still. no wonder bank lobbyists say they have never been busier. i'm gillian tett. >> susie: finally, some college students in pennsylvania are in the middle of what probably feels like a really long week. that's because the harrisburg university of science and technology has blacked out all social media for the entire week. students and staff at the small school can't use facebook, twitter, or any similar sites while on campus. the blackout isn't a punishment; instead, it's being used as a way to evaluate the role of social media in people's lives. so, tom, could you go a week without tweeting? >> a week and no tw

. >> so at the s.e.c. meeting regarding student protection of privacy for military recruitment and how there would be an opt-out plan from like military recruiters to get personal information from the students. and we all voted unanimously to support it. and there has been a change of date in the board of education form. monday, september 27, 5-to 7:00 p.m. is when it will be. >> any questions or comments? i had a quick question, alvienna. i was wondering if you had any updates to the bathrooms resolution that was brought up by student delegate rose last week. >> i haven't heard any other information about it. president kim: next is item e, the parent advisory support. miss grabowski. >> good afternoon, everyone. i'm one of the newest members of the pack, and i basically wanted to give you an update about what we spoke about maybe a week ago. i wanted to thank richard carnaza. due to the fact that he really updated us about the information that you guys are trying to put into play and your scheduling and w

. >> david: speaking of maddoff, what about the s.e.c.? we thought they were going to guard crooks on wall street. they were spending their time at work looking at porn on their computers. >> yes and those people should be fired clearly. >> david: how many others do we not know about? how many other thousands or perhaps hundreds of thousand of government workers are doing the same thing? >> i think that exists in the private sector, too. i hate to tell you. >> david: not as much. it's easier to -- >> unless you know something we don't know, maybe you should fess up. >> well, i think that might be universal. but there is plenty of ways that we should look at in a smart way. right now, it's more important for the administration to do a pro-business message. the anti-business rhetoric getting in the way of american growth. that takes precedent over these cuts. >> david: stephane, back to the main point. it is true that there are a lot of, there is so much government waste and it's a lot easier to avoid the scrutiny and the public sector than

the s.e.c. has begun to regulate bloggers. why would you do that? it's not freedom of speech.ate them a little bit. department of labor cracked down on paid internships. saying they aretantment to exploitation. so they won't get experience. group of michigan -- in michigan, group of home-based day care providers forced by government officials to pay union dues when they're not in the union. another story. iffer you don't view through -- if you don't view through the lens of modern day progressives, redistribution of wealth, global government run by elites and things are unsustainable and you are homer simpson, you shrug them off. oregon senator proposed a tax credit for breast feeding. because, you know, they just want mothers to, you know, keep their children healthy. yeah, i'm sure they do. nothing wrong with breastfeeding. nothing at all. my wife and i both agree it's the best thing for the child. but we choose. instead of just relying on the power of persuasion to get people to breastfeed, instead of using alternative, special interest groups resorted to embeding this in t

yes, s.e.c., i am looking. they're planning way ahead.row we will show you all the freedoms that you've already lost. ask if the freedoms are that cheap. they're using regulation to seize control. it's why i said cass sunstein is the most dangerous because you will never see him coming. the infrastructure is in place. god help us all if they turn the key and turn the machine on. back in a minute. @ ♪ you can let go now, daddy. ♪ your little girl is ready to do this on my own ♪ ♪ it's gonna be a little bit scary ♪ ♪ but i want you to know ♪ i'll be okay now daddy ♪ you can let go announcement. join me at the top of the hour. now back to glenn. ♪ ♪ >> glenn: we found out yesterday not everyone is in love with this president's policies on the democratic side. in a one-hour town hall yesterday, the president faced tough questions from his supporters. >> quite frankly, i'm exhausted. exhausted of defending you, defending your administration, defending the mantle of change that i voted for and deeply disappointed with where we are right now. i

yes, s.e.c., i am looking. they're planning way ahead.orrow we will show you all the freedoms that you've already lost. ask if the freedoms are that cheap. they're using regulation to seize control. it's why i said cass sunstein is the most dangerous because you will never see him coming. the infrastructure is in place. god help us all if they turn the key and turn the machine on. back in a minute. >>> i'm patti ann browne. today, republicans in the senate and a couple of democrats voted to block debate on a defense bill that would have repealed the military don't ask, don't tell policy. the federal reserve says it's ready to provide additional support for the troubled economy but after a meeting no new steps were announced. white house is sending another obama on the campaign trail ahead of the mid-term elections. first lady michelle obama will make at least nine political appearances in the last month. just in. top white house economic advisor larry summers will be stepping down from his post at the end of the year and will return to hi

we all remember they were sued by the s.e.c. for madoff like allegations.it. it's a hefty lawsuit, 42 payable. it was brought by three women as lead plaintiffs that are heavy hitter women, highly educated. >> yeah, because one of the plaintiffs was a vice president. so how is she going going to allege and prove she suffered as well because she wasn't promoted. i don't know how long it took for her to get to the vice presidency, but wouldn't that be a tough sell? >> i don't think this is a tough sell. this thereof is a dream. >>. she is so talented, fairly young and so talented, and others similarly situated that were men were promoted at a higher rate, given more money, given more responsibility. when you read this complaint, it does appearon on its face -- we haven't and in court -- but appears on its face men were running things there and some allegations of going to strip to celebrate promotions of men, things like that. so when you look at the complaint, if these allegations are true, they are very serious and could be a class action, notable case. >> i

finally there's a hearing slated on friday on citigroup's proposed $75 million settlement with the s.e.cage holdings. we'll follow it all for you on cnn money. >> i'm a.j. hammer. we're expecting big reality news breaking this week. monday we'll find out whether sarah palin's daughter palin bristol has got what it takes on "dancing with the stars" when the she's new season premiers. and this week, we expect to learn officially once and for all who is going to be replacing simon cowell and ellen degeneres on "american idol." "showbiz tonight" is live at 5:00 p.m. eastern on hlm, and we're still tv's most provocative entertainment news and tv show at 5:00 and 11:00 p.m. pacific. >> now becoming smart about what's happening internationally. it's happening here in the u.s., the u.n. general assembly and of course ahmadinejad causing some controversy there. >> as always. >> yeah. >> the u.n. general assembly is going to meet this week and flocks of world leaders will be there and the focus of this world meeting will be on poverty and health and education of developing countries. now, world le