more with s.e.c. chair gary against glensler when we come back. >> >> coming up, cramer bears down on the beltway. more from the man next hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this. your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee. yeah i should've just led with that. with at&t business. you can pick the best plan for each employee and get the best deals on every smart phone. amazing. jerry, you gotta to see this. seen it. trust me, after 15 walks... gets a little old. ugh >>> before the break we spoke to gary gensler, the clair of the s.e.c. commission which makes him the most regulator in america. there is so much to discuss. we have to go right back to it gary, let's talk about a year ago. when i look at what happened with gamestop, i look a

the s.e.c. correspondent drew griffin caught up with senator burr on capitol hill. here is his report. >> reporter: north carolina senator richard burr in his senate office building last week had no interest in talking about his perfectly timed stock sales. senator burr? >> yeah. >> reporter: drew griffin with cnn. we wanted to ask you about those stock trades back in february of 2020. you know, the s.e.c. says you had material nonpublic information. >> you have to look at what i put out. >> reporter: i did look at what you put out. how is that not insider trading? what he put out in march of 2020 was his explanation for why he sold off more than $1.6 million in stocks weeks before the pandemic market crash. he claims he made the trades relying solely on public news reports. but the securities exchange commission isn't so sure and in october, publicly released details of an investigation of the senator and his politically connected brother-in-law for insider trading. according to the s.e.c., in

our role at the s.e.c.c protections. >> if i'm the industry, though, i hear that as you guys are laying the groundwork for getting involved in a lot of areas that you maybe hadn't been necessarily closely involved in in the past. this is the justification for why you're going to be overseeing all of these different arenas is that -- >> becky, i beg to just differ with that description. >> yeah. >> the s.e.c. has been involved in these arenas since the 1930s. our l our laws have been updated often. staying within that framework, the public policy frameworks of the public gets to decide, but we try to have basic disclosures and protect the public, new technologies come along, and sometimes industry is trying to find what they might think ways around the basic protection. they may be trying to find ways to arbitrage the system. >> i'm going rapid fire with you on a handful of other issues before we close out this segment. there's been a number of massive insider trades -- this is not insider trading per se, bu

the s.e.c.burr was getting confidential briefings about the severity of the coronavirus in his positions on senate intelligence and health committees. according to a memo from attorneys for the s.e.c., on february 13th, 2020, senator burr possessed material non-public information concerning covid-19 and its potential impact on the u.s. and global economies. when he called his own stock broker at 8:54 a.m. directing the sale of $1.65 million in stock. virtually, all the stocks he owned. at 11:32 a.m. that same morning, burr then called his brother-in-law, gerald, a trump appointee to the national mediation board. the two men talked for just 50 seconds. the s.e.c. claims he hung up and immediately called two stock brokers directing the sale of several stocks in his wife's account. though, his lawyer said in a court filing that he had planned his trades days in advance and initiated the trades with his broker the day before his call with burr. a week later, the stock market began to crash. >> true

i think the s.e.c.oing a lot of things and i think gary gensler is doing good things and there is a lot of things in wall street that should be cleaned up there is a lot of abuses, so in that sense i agree with him. but i think activism is very important break on corporate america. i really don't think this corporate democracy, i think you have corporate futileism i have said that for years so you -- it is very hard to get across that moat and charge in, in the futile society that you have so it makes no sense to plaque it tougher and tougher for the activism to work and with me, we take big positions, we make tender offers and have permanent capital, but what you are killing is the smaller activists who, you know, if you don't give him time to accumulate his stock position, up to 10%, up to 15%, even up to 5%, if you don't give them, then why -- there is no incentive to spend the great deal of money to do a proxy fight to try to get these guys to account. and believe me i've seen it over and over again

eamon javers has the story >> hi, tyler s.e.c.irman gary gensler wrapped up a media viability with a number of reporters and made news that hedge fund managers might not like to hear. i asked whether he is considering new rules around disclosures from large investors that acquire that 5% threshold of a publicly traded company if you hit that threshold as an investor you have ten days to disclose that to the company againstler said he anticipates they might have new rules about that he is concerned about information asymmetry, that is that regular investors don't know there is a big investor out there acquiring a large chunk of a publicly traded company and thinks that that nine day period after the initial investment might be too long. he wants to shorten it he didn't say how long he would shorten it to or the time line for new rules changes. that's likely to be unpopular among hedge fund managers, many who tell me that that the ten-day period is already too short. they want to be able to hide their streams for that period of time

. >> reporter: you could say this is an s.e.c. rivalry but it is one sided recently.en straight. but the fans are optimistic hoping tonight is finally their night and they'll be crowned nat national champions and beat alabama. now nick sabin looking to win his ninth title, he's 25-1 and kir by smart is 0-4 the last one coming in a loss in the s.e.c. title game that was won by alabama in a blowout. but georgia's players say they learned from that game. >> after the last alabama game, we just realized that we had a lot of work to do and we haven't arrived yet. i had three shots at alabama and i haven't beaten them yet. that is speaking for myself. as a team, to win a national championship, this is what we work for all season so of course it is an amazing feeling. >> you understand it is different. we have to earn it. and anything that happened in the past, you learn from it and it is in the past and it is our outcome that we want. >> reporter: bryce young was amazing in that s.e.c. title game. we'll see how the georgia great defense does tonight. and alabama has been an

the latest loss in the s.e.c.t, but georgia's players say they've learned from that game. >> after the last alabama game, it was our wake-up call. we realized we had a lot of work to do. i had three shots at alabama and haven't beaten them yet. so, you know, that's speaking for myself. as a team, winning the national championship, this is what we're grinding for and worked for all season. of course it will be an amazing feeling. >> we understand it's different. we have to earn it. anything that happened in the past you learn from it, but it's in the past. it's on us to work day in, day out and to earn the outcome that we want. >> yeah, heisman trophy winner bryce young was amazing in the s.e.c. title game. we'll see what georgia's great defense can do against him tonight in the national title game. guys, before i go, great stat for you. alabama has only been an underdog three times in the past 13 seasons. every single time they were an underdog, they won handily. two of those games were against georgia. and guess

the one area that the s.e.c.ed further consideration was the, quote, game-like features and celebratory animations in retail-trading apps. later-that month, former s.e.c. chairman told cnbc, though, it is unlikely the regulator would expend resources to reel in the social media driven frenzy he said, quote, we don't regulate euphoria. shep. >> cynics, insert your comments here leslie, thank you. >>> the tsa confiscates lots of stuff, like your shampoo bottle and the nail file you just forgot was in your bag also, a burrito filled with crystal meth the meth-rito, for those in the know next, what else made the list of the strangest things people have tried to pass through security >>> a marine scientist in california gets packages from all over the world, usually filled with trash and that is just what he wants why he is collecting plastic waste, like phones, fishing gear, and golf balls, and turning the ocean's trash into treasure but he was just kind of over it, you know. watching prime video he realized he shoul

by the way, that's a best s.e.c. quarterback name, stetson bennett with back-to-back drives.ood great throw. georgia's 33-18 victory snaps a seven-game losing streak to the tide including three losses in s.e.c. title games and a crushing double overtime defeat in the 2017 national championship. head coach kirby smart earns his first national title and first win over his former boss, alabama's nick saban, who was seeking his eight title and seventh in tuscaloosa. >>> here's a silver lining for joe scarborough. crimson tide is still the team to beat next year. alabama is the favored for the next season at 5-2. they put them there every year, i think. georgia is next at 9-2. ohio state at 7-1. back in september georgia kicked off the season behind alabama at 50-2. >>> meanwhile it does not appear that college football -- the college football playoffs will reach a deal to expand any time soon. three meetings ended yesterday with no progress toward implementing a new format. they say, quote, we have entrenched issues that are no closer to be resolved. >>> after coming out of deten

the s.e.c. still the top dogs in college football.orgia get one more shot to take down the kings of college football, alabama. they earned it after a win over michigan. michigan hoping to make the title game for the first time in 23 years. georgia dominated all night. scoring every time they had the ball in the first half. the clock was the only thing that stopped them. even running back kenny macintosh for a touchdown pass. the offense putting on a clinic, piling up more than 500 yards of offense, 34-11 win. it will be georgia taking on nick saban's alabama in a rematch of the 2018 championship. the tide face cincinnati in the cotton bowl. and cincinnati was the first power five school to make the playoff. they fought hard against the tide, but bama, too big, too strong, too fast for those bearcats. the offensive line was bulldozing. averaging over three yards per rush before anyone touched the ball carriers. senior running back brian robinson with the best of his career. roll tide. a 27-6 win. alabama now trying to win back to back

what they earned, my mother from her s.e.c. al job, my dad from the many jobs he held, they put right back into our household. but what they gave us, an abiding faith, a love of country, a strong set of values, was worth far, far more. i put myself through college and graduate school through a combination of part-time jobs and student loans. when i started my career, i started at the bottom. through hard work, more than a little luck, thanks to god, i did better than my parents. and so did each of my siblings. we have lived the american dream. that dream is supposed to be the promise of america. yet today the american dream that worked for a family like mine feels out of reach for too many. no family deserves that. i'm often asked why i decided to engage in public service and specifically to run for governor. of course there were many reasons but the most fundamental answer is this. i want this generation and the generations that follow to have the same shot to build a better life that i had. every family deserves that. [applau

player of the year, and as a two-time all s.e.c. player. in 1942, he helped lead the georgia bulldogs to their first national championship. selected as the first pick in the first round by the chicago cardinals in the nfl draft, he continued to have an illustrious career in the pros. the cardinals organization inducted charlie into the arizona cardinals ring of honor following his time in the nfl. we are so happy and excited that charlie has reached this milestone. happy birthday, charlie. mr. speaker, i rise today to congratulate the benedictine cadets high school football team for winning the 2021 georgia 4-a state title. winning football games in georgia where the smort practically runs through our veins is hard but winning a state title requires exceptional grit, determination, and perseverance. after the benedictine cadets suffered a loss in the 2020 state playoff semifinals, they entered the 2021 season with one goal, winning a state title. they have consistently exhibited drive, dedication, and winners mentality. the head coach has t

. >> plus s.e.c. chair gary gensler issuing a message to crypto, more scrutiny is coming. >>> and tracking covid some early signs of omicron wave is waneing and what that means for the pandemic >>> it's like, where are you, guys when you getting is good, why weren't you downgrading? it's -- amd was up another 40 points, someone downgrades nxpi, they have so much business, but that's a good time to downgrade? often we see a downgrade for amd, it goes down tomorrow and then you say, wow, i wish i was nimble enough to have sold it at 126, and bought it at 122. but, you know, just facing the fact that analysts want to get out -- david, you know why is there a symbol faer is that a spac, fear >> fear? >> no one unfortunately has the name fear, but david, fear is motivating the downgrades. they can't take it anymore they're young, they can't take it >> there's any number of investors who feel like i can't take it that much more i know last year, i'm hearing some of the names, and i haven't called these indi

. >> i don't interest myself ex s.e.c. trick. >> the defensive defensive tackle ( beeping ) ( crashing sounds ) ( growling ) >> oh, howdy, big fella, marcus kuhn, nc state! ( cheers and applause ) >> stephen: thank you to the players we'll be right back with liev schreiber. ( cheers and applause ) ( band playing ) or feet? try nervivenerve relief from the world's #1 selling nerve care company. nervive contains alpha lipoic acid to relieve occasional nerve aches, weakness and discomfort. try nervivenerve relief. napoleon was born and raised to conquer. but he was just kind of over it, you know. watching prime video he realized he should follow his dreams. so he ordered a microphone with prime next day delivery. now the only thing he cared about conquering was his audience. ( cheers and applause ) ( band playing ) >> stephen: welcome back, everybody. my guest tonight is a tony winning actor you've seen in "spotlight," "the french dispatch," and the showtime series "ray donovan." he now stars in, "ray donovan: the movie." >>

it was a month ago at the s.e.c.nship game that alabama ruined georgia's perfect season dealing the bulldogs their only loss of the season. it knocked us off the top. i was there. it was heartbreaking. alabama trying to repeat, and the crimson tide has won six titles in the past 12 years. one of those victories at a game i was also at four years ago. an overtime thriller against georgia. they were hoping for their first championship since 1980. some people call it a thriller. i called it a nightmare. the man at the helm of alabama for all of these championships is nick saban. already a college football legend, and then georgia's head coach is kirby smart, a former assistant coach under saban at alabama. smart is looking for his first victory. so far he's 0 for 4. let's change that tonight, and as they say in bulldog territory, not today, saban. not today. >> wow, okay. well very objective report there from you this morning, robes. get a good look at that trophy in case things don't go your way tonight. we're going to

got paid last year, he made 98.7 million in total comp in 2021 last year's numbers released in an s.e.cin salary, 12 million for bonuses, 82 million in stock awards not bad. of course, it is a $3 trillion company. >>> futures are higher across the board. oil at 80. and we're back after this. do you want to gamble on sports in new york and not have to go to new jersey to do it it is now game on. the state finally letting people gamble in time for the nfl's regular season weekend the move means big money for the state and companies given the green lights to take the bets. contessa brewer joining us now i don't know if you remember this, there's a starbucks in fort lee, new jersey and somebody said it's the sports betting capital of america because the new yorkers would drive across the bridge and need a place to hang out to place their bets no longer. >> reporter: imagine if you live down say in and around new york city you'd have to drive an hour and a half to the upstate sports book, where you can gamble in person, or you can spend maybe half an hour -- depending on the george washingto

kelly, we will see new just a s.e.c. i am tyler mathisen. just ahead, will main street fair better than wall street this year. will the real economy win out? and how do you invest in this new environment. >>> choppy flight path flights canceled for 12 days in a row. airline analysts say there is a recovery on the way and one name could be a big winner. >>> the ceo of too simple has a solution, long haul trucks, kelly, with no drivers >> i think we are heading that way at some point. maybe not this year. thank you, tyler hi, everybody. here's how markets are fairing dow is hanging on to a 100poin gain ending the week much the way it has started. the s&p 500 down 9 points. the nasdaq down 116. and look at the yield on the ten-year, hitting 1.8% one of the biggest jumps we have seen to start the year in like two decades. one of the biggest basis point moves ever to start the year it is lifting financials, the big banks and the regionals, some of them adding 2% today. >>> we begin this hour with jobs in america the unemployment dropped to 3. 9%

federal reserve could recognize and think it could be good and another thing i want the cftc or the s.e.c. would like the stable coin i feel like right now it is unstable and almost wish we have federal reserve protection think silver gate may be do it, if you do it, you could own that market. >> well, sure. well i think what you're pointing to is the fact that there are existing stable coin projects in the market. >> right >> some that are more trusted than others. we happen to bank all of the regulated stable coin issuers in the united states. they all use the send, which is our proprietary platform it is a global payments platform the acronym is the send and it is allowing our customers to transact 24 hours a day, 7 days a week around the globe. and the existing stable coin issuers use the send for the minting and burning the cre apgs and the the redemption of the stable coins, but again those are primarily used for a cryptocurrency trading and where we see the opportunity is creating a stable coin that could be used by folks like you and me to pay for things it was kind of the other n

the bulldogs came back to defeat s.e.c. rival alabama and earn the school's first national title since 1980. we'll have lots of highlights. lots of reaction. lots of partying i'm imagining is happening as we speak, savannah. >> i think the party was going all night long. plus, unfortunately another record day in the pandemic. more than 1.3 million new covid cases reported across the u.s. on monday. some states including weekend tallies. the seven-day average also reached a new high. more than 740,000 cases per day. more on that in just a moment. >> we begin with that brutal cold hitting much of the country this morning. just take a look at these temperatures. 16 degrees here in new york. zero in buffalo where parts of upstate new york have been hit by nearly two feet of snow. al is standing by. he has a full forecast in just a bit. but first, we will check in with nbc's stephanie gosk. she is just to our north in white plains, new york. good morning. >> hey, hoda, good morning. this is the kind of cold that puts a real spri

called me by the time the s.e.c. finished -- >> those companies had no prospect of ever having any revenues whatsoever. refrigeration company that said it was going to be involved in the internet that's different than now in many ways. there are -- you can find it in segments of our market, but it's not the market. >> i know it's better, but that doesn't mean i'm going to recommend them i'm going to come on air and saying it's time to buy this i went on air and said it was time to buy rob weesman's company. >> blade >> and immediately hamptons, they closed their airport and the stock dropped like 30% now here's a good example of what happened. rob emails ame and said don't forget, it was down for a little bit, and now it's up but then i see, well, sure enough cathie wood is buying it. cathie wood the way i like to think of it, regulations over, it's overtime. she wins the coin toss, and she elects to kick >> she elects to kick. >> yes, but right, but not actually kick to run the clock out. >> you want to receive >> i

last night's game proved that the s.e.c.gia gets one more shot to take down the kings of college ball in alabama and earned it after a matchup with michigan at a packed house in miami last night. michigan hoping to get to the title game for the first time in 23 years, but georgia dominated all night, scoring every time they had the ball in the first half. the clock was the only thing that stopped them. even kenny mcintosh threw a touchdown pass. putting on a clinic, piling up more than 500 yards of offense en route to a 34-11 win. it will be georgia taking on alabama in a rematch of that 2018 championship game. the tide faced cincinnati in the cotton bowl. cincy was the first nonpower five school to ever make the playoff. they fought hard against the tide but bama too big, too strong, too fast for the bear cats. their offensive line was bulldozing, averaging over three yards per rush before anyone even touched the ball carrier. brian robinson with the best game of his career, every 200 yards rushing. bryce rice throwing for

the s.e.c. betty white is being remembered today as a talented comedienne and entertainer, who, despite great success, remained humble. >> i've been lucky enough to do so much. if i start complaining about anything under the sun, throw me out of the business. >> white died yesterday, just a few weeks shy of her 100th birthday. tributes are pouring in from around the world, including this one from her former costar, ryan reynolds. the world looks different now. she managed to grow very well, and somehow not old enough. for decades, singer song writers carole king and james taylor have left a remarkable impact on the music industry. don't miss a cnn concert film. watch "call out my name" tomorrow night at 9:00 p.m. right here on cnn. >>> and i'll see you back here at the top of the hour. for now, let's send it back to boris and amara. >>> with the start of a new year brings new resolutions and a chance to refocus. for some f us that might mean paying closer attention to our finances, especially no

kelly, we will see new just a s.e.c. i am tyler mathisen.treet fair better than wall street this year. will the real economy win out? and how do you invest in this new environment. >>> choppy flight path flights canceled for 12 days in a row. airline analysts say there is a recovery on the way and one name could be a big winner. >>> the ceo of too simple has a solution, long hau

another battle of the s.e.c.ats, and now a major move in sports betting millions of americans are just hours away from finally being able to place bets on their phones and tennis star novak djokovic speaking out from australia as he sits in limbo over his he sits in limbo over his 'lherol to get vaccinated. ♪ limu emu and doug.♪ and it's easy to customize your insurance at libertymutual.com so you only pay for what you need. isn't that right limu? limu? limu? sorry, one sec. doug blows several different whistles. doug blows several different whistles. [a vulture squawks.] there he is. only pay for what you need. ♪liberty, liberty, liberty, liberty♪ >>> a fire that destroyed a planned parenthood health center in tennessee was deliberate. that's the word from fire officials in knoxville the health center burned down about a week ago ceo says the $2 million renovation and expansion project was almost complete when the fire happened. investigators offering a $10,000 reward for information on whoever might have starte

that according to s.e.c. filings reviewed by smart insider. in 2021 and 2020. pumped up by increasing demand during the pandemic. the sales part of prescheduled selling program. the company didn't respond to requests for comment >>> starbucks now reversing course on its employee vaccine mandate. the company's ceo cited the supreme court decision last week for the u-turn >>> and the buick 1949 road master convertible, the famed car from the movie rainman, headed back to the auction block. it's actually one of two that were used in that movie, but this one owned by one of the stars of the film, dustin hoffman. the classic expects to fetch between $150,000 and $250,000. >> on wall street, the dow down 340. s&p down 44. nasdaq down another 167. off more than 10%. technically, correction territory from the november high >> britney spears' family feud is back in court in a hearing in los angeles tonight, her lawyers argued her father jamie spears should be able to pay his own legal fees according to reporters inside the courtroom, it got heated brit

give me one s.e.c.. while i do that, i wanted to mention that i am joined today by my colleague peter golada, our sf puc power manager who will be co-presenting with me. can you see the slides? >> yes. >> great. for our report today, i will briefly review our latest program enrollment and service statistics as we always do. i will hand it over to peter for an update we implemented. and he will hand it back to me and i will provide an update on the clean power sf program work and wrap up with a review of the power supply procurement integrated plan. enrollment remains stable. the customer opt out rate is 2.4%. 2.1 of the customer accounts have upgraded to the 100% renewable super green product. that represents more than 6% of the program's annual sales. so quickly i am going to hand it over to peter for the be powerful marketing campaign. >> thanks, mike. good morning, commissioners. great to see you all. happy new year. i am the marketing power at the sf puc and we wanted to provide you with a brief comm

another battle of the s.e.c. sports betting millions of americans are just hours away from finally being able to place bets on their phones and tennis star novak djokovic speaking out from australia as he sits in limbo over his 'lherol to get vaccinated. wel ar fm him or what he had to say, anyway, after this c? taking align can help. align contains a quality probiotic to naturally help soothe digestive upsets 24/7. try align, the pros in digestive health. >>> a fire that destroyed a planned parenthood health center in tennessee was deliberate. that's the word from fire officials in knoxville the health center burned down about a week ago ceo says the $2 million renovation and expansion project was almost complete when the fire happened. investigators offering a $10,000 reward for information on whoever might have started it. >> a woman is lucky to be alive thanks to four sheriff's deputies who pulled her out of a burning car and the rescue caught on newly released body cam video. >> this is what deputies in pasc

most were sold at a price of $110 or higher now, according to s.e.c.ram in 2020 for quote personal financial management purposes the plan called for selling 2.4 million shares he term terminated that plan after selling only 1 million shares with his final sale last august according to smart insider, peloton insiders sold nearly $500 million worth of shares in total last year, a large amount of that substantial given that the current market cap is now only about $10 billion other executives who sold include the president, selling 105 dllds, the chief legal and culture officer, and the previous product officer now, cnbc reported peloton is now looking at score closing, cost cuts, job cuts as the sales slow interesting contrast with what happened to the price with how much money was taken off the table last year above that $100 price. >> i don't know if i blamed them if i worked at a company that became a meme stock i would probably sell, too maybe you wouldn't because you think it could double or triple from here or they should be holding on for the long

these are pure spec, and obviously the fed might be speaking on them but the s.e.c. lot more of you in just a little bit, and of course you can check out his investing club right now, and you can sign up by pointing your phone at the screen as we speak. >>> let's talk a little bit more about the market we've got just about a half hour to go to the closing bell. the futures are under pressure as andrew just mentioned nasdaq is the worst. it's off its lows of the session but still down by about 2% joining us to talk more about the markets is liz young, she's head of investment strategy at sew fie, and liz, your thoughts on this yesterday after the close was it's not done yet. why? >> right, i don't think it's done i don't know that we're going to see another day like that with such a big swing, but the reason i don't think it's done is because that didn't happen where we need to bounce back from a one-time shock, right? that wasn't a one-time event we're trying to digest this entire thing is a digestion process of a new environment that we're not conditioned for there

one the s.e.c. a definition of consumer harm to go beyond whether or not you pay for a digital good so any activity that weakens consumer privacy may be on the docket for valuation two she's made it clear the ftc needs to strengthen the deterrence muscle. so there may not be stopping transactions like this, there may be more negotiations for areas that could be moving industry towards a bit more consumer protection. and three she made it clear she's going to look for the data, is there evidence that even in markets like the metaverse, are there activities that one may deem early enough that could lead to anti-competitive behavior. that suggests she's going to look for, even though it's a relatively new market, tu opportunities to find procompetitive actions. >> i agree 100%, having sat at the table with her yesterday, that's going to be the approach because from a deterrence and efficiency perspective she suggested she didn't have the money and resources to actively go and investigate and some cases

a way to work around that is concurrently hire hong kong auditor and provide s.e.c.it paper. in terms of u.s. regular lay tori there's more. for chinese government it is harder and the intention to move the companies home but you think about the structure of capital market in china right now where 80% of the investor is retail and i don't think they're ready. unless we see a -- of the chinese capital market i don't know that we'll see that immediately and a leading indicator is chinese government provided blessing to the vie structure which is the companies listed in the west with prior approval this is an indication that they'll continue to let chinese company -- >> that's interesting. thank you for joining us with a note people are talking about today. we appreciate it. >>> energy with a big week and major divergences. we take you inside the market zone dot tdees lefofra w is positive. s&p and nasdaq headed to another loss [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about koh

welcome to the new staff members and congratulations to chris and the georgia bulldogs, even though the s.e.c. will hold it against them. >> president: thank you very much. and a local young man on that team, too. >> any other comments? if not, public comment. >> thank you. reminder to press star 3 to be added to the queue. moderator r there any callers on the line? >> madam secretary, there are no callers on the line. >> public comment is now close. >> thank you very much. next item on deferred compensation plan calendar. >> item 11, discussion item. deferred compensation committee report. >> thank you, madam secretary, mr. president. i will submit the report as submitted and read because there is no items being forwarded to the board for action. basically discussion items. so there is nothing to sort of have the board take action on. the report will be submitted as is. >> chair bridges, i believe we have one item. the target date -- >> is i not on there? >> it was. go ahead. >> that is the next item. >> that is the next item. >> i'm sorry. i thought you said there were no items -- >> i am r

are some concerns in the non-bank financial sector, still around money market funds, although the s.e.c. made very positive proposals there, and we also saw things in theduring tho the crisis which we're looking at ways to address overall, vulnerabilities are manageable, i would say. >> thank you very much. >> thank you. >>> that was the end of the press conference there with fed chair jay powell what a roller coaster ride once again with the markets the statement was interpreted it's a the press conference hawkish. stocks like the former not the latter gone from session highs pretty much plus 500 on the dow to session lows currently down almost 400 welcome to the "closing bell," everyone crazy intraday moves once again. but sadly, today, in the wrong direction. >> another 800 point swing in the dow. really what we've seen in the last few days. the interpretation of what fed chair jay powell said, as you mentioned, hawkish he did not rule out a 50 basis point or a double interest rate hike he did not rule out hiking at every single meeting he said they hadn't made though decisions yet b

. >> not to mention some headlines regarding micro strategies, bitcoin accounting from the s.e.c.onder, where do we think right now, what supply of crypto is underwater, meaning less than people paid for it, and what does that do to the erosion of the so-called entertainment value of trading it, which is, obviously, a factor in the price action for at least the past year >> well, people are in cryptocurrencies because they want to either use it for various decentralized applications, which are becoming increasingly popular they are also in it as a tradeable asset where they can get some appreciation. it moves so much for most people, they don't have a lot of ex pposure to it most traditional investors generally less than 5% so it's not something that that's going to ruin them in it goes down. as far as how many people underwater, i haven't looked at the recent data, about you there are a massive amount, far greater than 60% of people who are long-term holders, let's say more than 18 months. so the drop more recently, i don't think it should be worried about too much also consider

appropriations, the ftc is still lagging far behind its sister agencies, including, among others, the s.e.c., the cfpb and the pcc. you like the other agencies the ftc pace for itself. the ftc almost invariably, year over year return more money to the federal treasury than it gets. why? because ftc civil penalties including for example, the $5 billion penalty the ftc imposed on facebook, goes straight to the treasury. $5 billion would pay for more than 15 years of the ftc's budget f. the ftc were a company, we would all want to buy stock in it because it always generates more income than it spends. i urge you to pass this legislation to give the ftc the tools that it needs, desperately needs to fends off and punish privacy violations and other digital harms from internet scams and data breaches to dark pattern manipulation and ransomware attacks. without more resources, especially more technologists and engineers the ftc will simply not be able to stem the growing tide of attack on privaty and other digital harms. as a result the cost of the united states will continue to vastly exceed the

year, particularly bitcoin, but also from a regulatory standpoint is there something to fear with the s.e.cample trying to regulate cryptocurrency? >> patrice, really great question, and an important question. our belief is that every investor needs to get off zero exposure to allocation to crypto, particularly to bitcoin. everyone should have bitcoin in their portfolio, one, three, 5% depending on your age and a portfolio but everyone needs to have it. this year i do believe could be a little rocky. we have a four-year cycle in bitcoin around something called the having where the block rewards on chain are changed and in the middle of that cycle you tend to have a bear market or a consolidation period. i think we've entered that. and then you bring up the most important point which is regulation. the first five years of bitcoin, 2009, yesterday was the 13th birthday, so the first five years, 2009 to '15, six years, it was the we ignore you phase. people didn't care. from '16 to '21, the next six years it was, hey, we kind of laugh at you, look at those crazy people over there with their bi

georgia leaned on the defense, it should have been there the previous game, the s.e.c. championship when those guys got so tired they're on the field the entire game, and that didn't happen last night. saw the first half andgeorgia was actually able to stop alabama on some of the third down plays and get off the field. because, man, beating alabama, that's tough alabama's heisman winning quarterback through an interception late in the game, that sealed the deal for the bulldogs i can tell you, 42 years a lot of people were watching closely, and really hoping this time would happen and georgia, did you guys know that georgia was favored i was kind of surprised. i took georgia, and i only had to give two and a half points. i couldn't bet i was fine but i couldn't bet for ten days, 11 days, but i was fine >> not that you were count the hours. that's why you came home. >> now you can do it sitting in the chair. >> like i had the over -- >> back in new york. >> 53. 53, so i didn't win because 33 plus 18 is 51 if you do the math i had the right team. >> so close. >> it's a mo