the sec has been stalemated and that stalemate may not go away but it's going to be back on the sec's desk in about two months with proposals from a body called the financial stability oversight commission. that's going to be their biggest crisis. beyond that i think elise is going to have to look at the enforcement crisis. no one in the country out there is very satisfied with a degree to which the agency has not gone after high ranking executives. that's partly a problem of cost because the agency is underfunded but i think the agency is not focused enough on the need to generate deterrent. >> sometimes they are giving out parking tickets. >> susie: let me just jump in here because we have less than half a minute. investigator, you're talking about things that they have to restore. investigator confidence is an issue, things like the flash crash and this not really making wall street accountable for that financial crisis. so what be done to restore investigator confidence in a few words? >> in very few words, enforcement is one thing. the public wants to know that those who are culp

in today's cover story, a highly controversial figure at the sec steps down. plus, why more americans are going back to basics with their finances. being picky may be a good thing when it comes to the stock market. and, what is the deal? traders tell us what they expect from the fiscal fallout on capital hill. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's tuesday, november 27th. i'm angela miles. in today's first look: tech is in check. the dow and s&p 500 pulled back a touch yesterday, while the nasdaq pulled out a 6th straight win. apple and facebook were among the hot tech stocks. gold and oil both slipped on concerns about whether greece will get another bailout, and the u.s. budget. the governor of new york places the cost of hurricane sandy at $42 billion in damages and losses. and all bets are off at intrade.com. the website can no longer allow u.s. residents to place financial bets on the prediction markets. intrade correctly predicted president obama would be re-el

charlie: sec capital announced in the conference call the sec staff filed a wells notice recommendingharges against sec over insider trading and compliance with what i can tell you government investigators believe and fairfax financial believed because there ii other stuff that steve cohen does not have compliance systems in place to basically monitor insider-trading, not whether he did it or not but what does that mean? if the full commission agrees with the staff and they usually do nine times out of ten and higher than that i heard 99% of the time they agree. if they do this, they are going to file charges, those charge of a likely to be civil fraud charges. liz: pull money out of the fund? charlie: if it is civil fraud charges that is the highest level of charges, that means it could be shut down, steve cohen could be thrown out of the business and preemptively you could see investors pull out and i could tell you this, i know for a fact people at sec capital are worried about that scenario right now and before you are convicted the sec generally file a charge, you settle with the

the antitrust division, after watching for a couple of years, decided to pursue antitrust rather than sec regulation as the means to introduce the competition. my role that i was on both the telecommunications task force and i was one of the outside economists advising the department of justice when the case was being shaped. >> host: professor houseman? >> guest: i didn't come in until 1982 and thereafter when the antitrust division decided to review, about three years later, there was a report that was done. i was an advisor to the government on the reports. i was involved thereafter in the various changes and modifications. >> host: professor houseman, where he supportive of the decision? >> guest: well, at the time, i would say medium. i it was based on an incorrect theory, in my view. i have written academic papers. the cost consumers somewhere between 50 and $100 billion in payments that they should not have had to pay based on voluntary. actually, although i liked judge green, i really doubt that a federal judge, no matter how well-intentioned could really do a good job here. he wa

we should back out they don't kill people at sec capital. if they do anything wrong, it is insider-trading. a victimless crime but you go to jail for ten years and more for doing it. the latest sec capital sources of associate to be nabbed in this insider-trading, reno he traded a drugmaking stock and shared his steps or his knowledge with steve cohen. we know that from the complaint, gentleman described as the fund a loner or portfolio manager. it is a long road from sharing those tips proving he knows those were insider-trading and one of the problems with this case, this is why i think -- a lot of people think -- he has evidence against steve homan. he hasn't slipped yet, you get charged when you ignore the -- when the fed say we want you to flipping you don't you get charged. here is the problem. these activities occurred in 2008. i can tell you steve cohen knew in 2008 that the fed were watching his every move. i don't know if he knew his phone was tapped. probably found out when we first reported it as last february but he knew they we

mary schapiro leaving the sec.ding greece. >> greece, i mean, it's all about the politicians, whether it's barcelona, greece, or whether it's what happened in london. the bank of canada governor mark carney giving a news conference when he's explaining why he has decided to go over and be the governor of the bank of england. yes, the bank of england in the united kingdom for the next five years saying that's where the greatest challenge lies. not only setting military policy, but also regulating the uk banks. earlier in london, the finance minister there explaining he was reaching outside of the bank of england, outside of the uk to bring in the canadian because the canadians have so well run their banks through the financial crisis. he says he wanted a fresh pair of eyes on what was happening in the uk and they never centralized control of the banks in canada. and he wanted that experience in the uk. here is now the european close. >> the european markets are closing now. >> so it's negative territory. a lot of th

some folks think if mitt romney were to win, the sec and justice department might run different -- sec and justice department might decide differently with regards to some mergers and acquisitions. quebec concerning -- would that concern you, if there were more consolidation in the wireless industry, for example? >> the way in which we evaluate mergers, the way in which we digest information, the way in which staff processes information, that part will not change. as you mentioned, whoever is named head of the department of justice, whoever i their remains or is named head of the -- i their remains or is named head of the -- either remains or is named head of the fcc will take on some of the characteristics of the presidency. but in terms of the way we govern ourselves and the way we that willformations, never change. i am always mindful of a more consolidated eco system, with the means, what that means in terms of its independent voices, in terms of diversity, in terms of small communities. it really came home for me when i saw an newscast where an individual -- i will say that englis

the sec said they did their examination but they found no evidence of a computer breach. but the nasdaq does not believe that. i just spoke with michael trough he has dow been hired by the new york stock exchange to delve into this to get more information. >> eight technology department. >> automated systems of self-regulatory information? >> automation review policy is the nasdaq and the new york stock exchange i think the sec should turnover tomorrow. one of the things i talk to turn off about is if you are a terrorist even if the sec made random checks they don't leave fingerprints. we hope that everything is hunky dory they have not been satisfied it is stupid if you think about it. have you take that entire architecture and gooto conference? how does that happen? [laughter] >> like price waterhouse. >> i have no idea how that happens. >> one way to proofread it you read it out loud. liz: look at your office. >> q2 brush your teeth in her. >> you are eating chinese food. even better. >> i feel sorry for that moment. and pay her extra for that. thank you very much. the

jp morgan is nearing a settlement with the sec over mortgage-backed securities. that's according to reports by the wall street journal. jp morgan and the sec are likely to reach a settlement soon that will end investigation into jp morgan's bear stearns unit. in the aftermath of the housing market collapse, wall street firms have been investigated for how mortgage loans were packaged and sold to investors. in 2010, goldman sachs paid a $550 million fine in a similar investigation. more trouble for greece. the country is on the verge of defaulting and eurozone leaders are reportedly delaying a decision on whether to give greece a bailout. protestors have been fighting the deep budget cuts greek leaders just approved this week. and now, reports say the eurozone leaders are said to be miles apart on another round of money greece needs by next week. one of the sticking points is how much debt relief greece should get and who will bear the loss from lower debt repayments. new estimates have been released regarding superstorm sandy's economic impact. "this storm will c

today the sec, no relation to s. a. charged mark thomas with avoiding those losses by using inside information. the sec said he was told by doctors conducting trials on an alzheimer's drug that the drug was no good before thhe doctors presented their evidence to investors. the largest in tech -- insider-trading action ever filed by the sec. ben bernanke downbeat about the economy in his apprance before the economic hub of new york. the fed chair cautioning their recent inancial crisis has lowered the rate at which the economy can and will grow. a loss of skills and productivity. he's talking about under normal. >> these factors may have pushed up to some degree the so-called natural rate of unemployment. the rate of unemployment can be sustained under normal conditions andeduced labor force participation as well. lou: turning me now, wall street legend, chairman of the army institute. great to have you here. >> good to be year. lou: does not quite rise to the level of irrational and exuberance, but i have the feeling we

as you know, we have turned it over to the sec. the enforcement division of the sec and the fraud office in the u.k. >> the purchase occurred under a previous ceo, but whitman was on the board at the time and did vote in favor of the purchase. she puts the blame squarely on the former ceo, former autonomy officers and the person who signed off on the books. >> thanks, scott. irony here is hp was already in trouble before it discovered the alleged fraud. computer and printer sales have been sinking thanks to the ipad and iphone. meg whitman made her attempts as ceo to turn hp around and it would take far longer than she first thought. nor is the first time the board has been mired in controversy. almost ten years ago, the then chairwoman, was conspireing with lawyers to spy on employees to look for leaks in the company. hp crafted a plan to break into newspaper offices, but it was never carried out. hp shares are down 14%. that is a 14-year low. >> stay with nbc bay area and nbcbayarea.com all day long. we will have continuing cover

hang on a sec. give you your drink back. >> thank you very much. i -- what happened here? >> cheers, right? >> i've never seen this drink in my life. what is this? >> that is what this video is all about. it's called "returning stuff to people that's not theirs." >> hey, here's your highlighter back. thanks. >> thanks. >> i got your markers here. i used the green one. >> i think you got me confused with someone else. >> no? you got the glasses and everything. hey, i brought "eight mile" back. it's pretty good. >> not mine. >> not yours? you sure? >> i would like to see him try to return valuable things and see how honest people are. >> hey, you left your ipod in troy's car. i've been looking for you. >> that's not mine. sorry. >> you sure? >> positive. >> this girl, we like that. >> ipod. >> i thought it was liz's, but she has her music on her phone. >> that's not mine. >> are you sure? >> i'm sure. >> the rest of the video he goes back and explains, hey, we're pulling this prank on people. he does go back and talk to the cute girl with the ipod for quite a bit. >> honest

the sec only has to probe preponderance of the evidence.ie: this is not completely similar, but it is interesting in the approach, when goldman sachs was hit with a charge by the sec a few years ago, one of the things that goldman sachs file for was to make sure it was not hit with what is known as a 10b charge. they felt it would have a really negative impact on the business. they are a big bang. they fought like hell. let's say sec capital is forced to settle on a 10b5 charge. they are taken to court. they get nailed on that. what does that mean for the future of sac capital? >> the likelihood that the public investors would demand redemption. we would have a mini run on the bank. it could produce not only do 10b5 charge and a higher penalty, but possible revocation of your license. that would mean you could not handle your own trades. you would have to go to a different broker or dealer for your trades. it seems like that would be the end of sac capital. charlie: it looks like they are having a difficult time drawing the line completely

one is absolutely the sec is looking into this.h trading and markets as well as the enforcement unit. what happened there was that a technology snafu caused knight to buy a bunch of -- go short and long a number of positions on august 1st that it didn't want. it managed to sort of bail out of some of those and sell the rest of the book overnight. it got new financing through others through a convert sale. they managed to kind of salvage the situation before it took them under, but the sec has been investigating that. now, in some ways that was a very routine i.t. mistake from what i'm told. and so i don't think it's your traditional dramatic sec enforcement case, but at the same time, a lot of money was lost. there are rules that need to be followed. that's going to be something that an acquirer would have to deal with. at the same time, i don't get the sense that will stop a deal from going forward. >> yeah, josh, so if the company apparently, you know, according to kate in her reporting the empire entire thing is on the block. wh

. >>> but first of all, brian, mary shapiro is out as top gun at the sec. eamon javers has more on who might be her replacement. >> well, big changes over here at the sec. the president notifying folks today in an e-mail that he is going to designate mary shapiro's successor. that's an important distinction of terminology here in washington because that means that by designating -- sitting sec commissioner elisse walter as mary shapiro's replacement, he does not have to go through a bruising senate confirmation bat many which many expect at the same time as the fiscal cliff negotiations could be a big distraction here in washington. elisse walter gets the nomination. she's a sitting commissioner right now. she's been around washington for a long time, been involved with some organizations here in town over the past several years. she was an acting sec chair during 2009, the transition between the bush and obama administrations. but already people are starting to turn to the legacy here of mary shapiro who took office, as you recall, right in the depths of t

the company told the sec that it's expanding an investigation into bribery accusations abroad - to china, brazil and india. earlier this year, wal-mart was accused of bribing officials in mexico. meanwhile, the company beat wall street's expectations on earnings, reporting a profit of $3.6 billion. wal-mart's cfo said the retailer expects the holiday season to be very competitive. the postal service has a staggering loss of $15.9 billion. the post office is under the finanical strain of having to pre-pay for employee health benefits. the postmaster general is urging congress to take action, including going to 5-day delivery service. farmland prices are growing. that's according to the federal reserve. demand for farmland in the plains states remained strong in the third quarter, and prices rose 25%. the fed also said this summer's drought did not effect land demand, but did hurt farmers' incomes during the summer months. farmers may expect the drought to continue to drag down incomes in the coming months. harsh weather conditions in europe could end the days of cheap wine. according to m

with the alleged illicit activity taking place, he was an affiliate of sec capital. said he and sec are confident they acted appropriately and will continue to cooperate with the government's inquiry. chevron has filed an ethics complaint against new york state comptroller. the oil giant told fox business receive at least $60,000 in campaign donations for backing environmental lawsuit case against chevron in ecuador. shares of salesforce.com have been higher in after-hours. investors like the ful full-year outlook and the forecasted it offered for next year. that is latest from the fox business network giving you the power to prosper. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. liz: we have been hearing from a lot of businesses threatening layoffs and price hikes because of the new health care law in

they'll face georgia in the sec title game. now, let's go to georgia. they did their part, hammered georgia tech in their season finale. bulldogs, marshall rap -- ran for 66 yards. four touchdowns on the ground for georgia. 21-3. third quarter, murray, one of his two tds. georgia wins big, 42-10. finished the season 11-1, and will battle bama for the sec title with the winner probably going on to the national championship game. >>> things got chip before the start of michigan-ohio state. one wolverine slapped a buckeye in the head. second quarter, denard rob boundaryson at quarterback. he is gone. 67 yards for the go, ahead score. he had 122 yards on ten carries. a couple of late field goals gave ohio state the lead, less hand5:00 to go, and devin gardner is intercepted, and urban meyer will get the gait -- gait -- gait you're -- gatorade bath. they're ineligible for poles due to inphotographics last season. >> 49ers and raiders on the road tomorrow. raiders in cincinnati, 49ers in new orleans. the saints looking for payback. niners knocked them out of

the sec says martoma reaped big gains when the stocks fell. groupon shares jumped yesterday after a hedge fund revealed its stake in the company. tiger global, a new york hedge fund, said this week it has a 9.9% stake in groupon. groupon shares rose as much as 13%, before ending the day at $3.38. the stock hit its all time low of $2.60 last week following disappointing earnings. green mountain is hoping for a pop in coffee sales with its latest hire. brian kelley will become the next president and ceo of green mountain coffee roasters. he most recenly served as an executive at coca- cola. he starts december 3rd. shares of green mountain perked up this week, trading 11% higher monday and 6% more on tuesday. money cant buy happiness. but, as it turns out, happiness could earn you more money. a recent study finds having greater satisfaction earlier in life can correlate to higher incomes later on. 10,000 americans were studied over a period of several years, starting at age 16. unhappy teens earned 30% less than the average salary, while happy te

the sec is looking into a possible insider trading scandal. two brokers are charged with trading inside information ahead of ibm buying spss in 2009. the sec claims both men allegedly where tipped off about the buyout through a research analyst and traded shares of ssps. the construction industry is facing a major shortage. 2 million construction workers were laid off during the recession, and fewer new workers are going into the field. as the housing market continues to recover, demand for construction of homes and buildings has risen 31% nationally this year. texas, arizona, iowa and florida are facing the largest worker shortages, which are expected to spread throughout the country. chevy's volt is topping the charts for the second year in a row. 92% of volt owners tell consumer reports magazine that they would definitely buy a volt again. that puts the plug- in hybrid car at the top of the influential publication's owner-satisfaction survey. according to consumer reports' auto editor, the two-year reign points to the continuing trend of en

the firm is under the microscope in the wake of what the sec calls the largest insider trading case itas pursued. charges have been levelled against former sac employee mathew martoma. a call like this is considered unusal, but is not unprecendented. it is not clear if founder steven cohn will be on the line, but management will field questions about the sec's case. the call is scheduled ahead of the market open. there are laws against discrimination by employers, but what about mid-level managers who don't hire and fire but can make an employee's work day miserable because of race, religion, sex or age? in our cover story, the supreme court is weighing that in vance v. ball state, a ruling that could bring mistreatment on the job a step closer to being shown the door. in 1989, ball state university hired maetta vance to work in the school's dining department. for 16 years, she was the department's only african- american employee and, according to court documents, was regularly subjected to racial ephithets from co- workers, including those who oversaw what she did each day. "those are

you can see the sec is still at the scene.from san bruno. the one person who died they thought was a 44 year-old woman it turns out it was a 24 year-old woman. it is a horrible story. the father was driving, the mother was any pause passenger seat. for brown sisters in the back and we do not know they were wearing seat belts at the townime. the chp was fortunately still in the car and buckled up. the spokeswoman says that is the only reason he suffered not minor injuries. most people in the as to be worked out as at the time. they are grieving and getting their injuries check out. they should know more on what exactly what happened in causes accident. we do know that alcohol the not play a factor in the us. even when they were seeing the victims they did not smell any alcohol on their breaths. we do not know they were speeding or drowsy. i can tell you about 20 months ago they finally opened up a second lien on northbound 1 01 are on the oregon expressway. that is are now clear things up just a bit. traffic is still backed up

time for sports and really surprising news coming out of the sec.he new orleans times reporting that arkansas are trying to lure their division rival les miles to pay fayettevil fayetteville. but miles is already the fifth highest paid coach in college football at $3.7 million a year. but arkansas offer would actually make les the highest paid coach in the land even ahead, yes, of alabama's nick saban who is on his way to winning his third national championship in four years. miles' agent has denied reports of the offer on. the razorbacks have a history of shelling out big money for their football coaches. before he was fired earlier this year for a motorcycle ride gone awry, bobby petrino's contract with arkansas paid him $3.6 million annually. but he bought with that money absolutely no good judgment. over to you, me come. >>> to a little offseason news in major league baseball thousand. espn reports the mets have offered david wright a contract extension that would keep him in queens through the 2020 season and potentially give him the largest co

the sec has asked groupon for financial disclosure so now the sec has more questions.ng to "wall street journal" they repeat repeat -- reviewed of their disclosures. here is the one-year picture not good. wall street places bets but not what is typically a normal that only the election but becoming confident about the fate of the new york marathon. >> charlie gasparino? >> there firms are sponsors they tell me the new york city marathon they believe is canceled. do we have confirmation? we do not. there has been an uprising in the city. personally i think they should have it. at some point* we have to get back to normalcy but is hotly debated. in the financial community people are hearing it is done in. it one not have been. you often do it. >> i have run it go but it kos his days causes massive gridlock it is hard enough to get around. >> and is probably the distinctly impossible. the trading desk is usually right. of the mayor's office has not commented but the trading community affirms our sponsored so they have good intelligence. i heard that tiger woods was making

details of exactly how much of this is going to criminal fines and criminal cases as well as to the sec lot in play here. you know, bp has been having to spend a lot of money to resolve all of these claims, and we are expecting to hear a lot more not only from bp throughout the day but also from the federal government and justice department officials that will expand on just what all of this means throughout the day. >> i'm glad you said that because i'm just getting word now that the justice department and eric holder will be holding a news conference later on this afternoon which cnn will be covering live. ed, i don't want to throw too much at you. we're just beginning to find out the details of this. i do want to ask you about the fact that there is one felony count of obstruction of congress that gets factored into this settlement. what about any criminal charges against people especially since we had 11 people who died? will there be anything that comes out with regard to people facing charges supposed to this one felony count of obstruction? >> it's interesting, you know, there is

the sec has said they have found other non-bear stearns related stuff. mostly bear stearns. two thirds or three quarters of bear stearns. let's rewind it. whited jpmorgan via bear stearns? on thursday, back in september of 2008, almost four years ago, bear stearns blew up that weekend. by friday, they needed a loan from the fed. that is one the treasury secretary at the time, the president of the new york fed, ben bernanke, they all got together and they said, please, you're the strongest man, by these guys. buy them in a very low price. initially it was shut download that. but then they said yes, we want to buy it by monday. so basically -- the markets don't open in uncertainty. jamie dimon said yes, they did it. they are not totally off the hook him as he see. when you buy a company, you buy it for its liabilities because you do due diligence. liz: you can go through that quickly at that scale do not know. you know, i don't understand why the sec about this. you know, it's a pretty big fight. it's not a small one. $297 million is not chump change. liz:

audiencias publicas en torno al tema del cierre de escuelas en el distrito de columbia.hace un llamado la secsegundo periodo presidencial en enero ... fernando pizarro, nos cuenta mas.. rep. albio sires (d-nueva jersey) raul ruiz, congresista electo (d-california) rep. grace napolitano (d- california) rep. luis gutierrez (d- illinois) frank sharry, america's voice fernando pizarro, washington d.c. *+ las declaraciones del presidente obama de que impulsara 1 reforma migratoria a principios de su segundo periodo, no dejaron indiferentes a los miembros del congreso. algunos opinan que los votantes latinos no tendran mucha paciencia si no hay accion. rep. albio sires (d-nueva jersey) mire, creomi que si este hombre no hace 1 esfuerzo en los proximos 3 meses para arreglar el problema de inmigracion en este pais, la comunidad hispana va a poner el grito en el cielo. lo mismo se dijo en 1 reunion en que actuales congresistasis le dieron la bienvenida a los recien electos. raul ruiz, congresista electo (d-california) si pienso que la prioridad del presidente obama especialmente porque los latinos sal

the former chairman of the sec, harvey pitt and doug burns. welcome to you both. i want to go over a couple of facts in the case as we know it right now, which is not everything, not by a longshot, but here's what we know. a hedge fund manager receives insider information, secret trials. an alzheimer's drug. he finds out the results before anybody else and trades on it. he sells his stakes in a couple of drug companies and assures them. you have said both wall street has developed a reputation of not caring, which individuals make of this story? >> theefact is terrible economic conditions, that is what we have caused some people to try to cut corners or look for advantages. this will not sit well with individual investors, nor should it. this is blatant conduct at least if alleged, and if it is proven, this individual will do a substantial amount of jail time. gerri: of course you would not excuse anybody for doing something like this because of economic conditions are bad, having said that though, turnin3 to you because you have prosecuted these kind of cases bef

please join me in a welcoming henry when sec. [applause] >> thank you. a very much appreciate your remarks. it is a homecoming for me because i spent many months upstairs and down the hall when i had a here to begin my research on the book. i am extremely grateful for all of the ways he has let me support over the years and also to up the former executive director of monticello and leslie bowman, the current executive director for their support in the past and in the present. this is a magnificent resource. as andrew says, monticello is, perhaps, a leading public history site for the study of slavery in the united states. that -- the study of that subject is really very difficult for a number of reasons. one is, it's so hard to get the documents, and the other is the psychological impediments that we americans have in that, as described by one hold, the theologian who also happens to be the father of my editor, he said, americans buy our own traditions of the most innocent people on earth. we never do anything wrong as a people and as a country. it becom

sec charging him with conspiracy to commit serious fraud. reporter made $276 million in illegal profits after receiving a tip from a doctor about a new alzheimer's drug. hewlett-packard's taking a dive today in a shocking report of fraud. we will have all the details here in just a moment. but first our top story tonight, the fighting between israel and hamas continues. senator said hillary clinton met with diplomatic leaders in egypt today to hp broker a cease-fire but that did nothing to stop more missiles being fired at israel and one israeli soldier has reportedly been killed, so how close is a ground war between israel and hamas in the gaza strip? david miller is live on the border, with its latest from there? >> there was late night diplomacy, but nothing significant change resolve the conflict. over my shoulder you can see the defense system, a news conference held a short time ago with hillary clinton and israeli prime minister benjamin netanyahu. they thanked them, the statistics said looking forward to the days ahead to work with i

hold on one sec. that was just a little over the edge. so let's tone it down. i think that you're more you want him -- you're happy you found him. i know he's -- you knew he was up here. but you want to back away. keep it in a little bit. it's a pretty tight shot. it's the tightest shot of the scene so far. so it just seems to me that if you're -- so i know he's up here. yeah. this is where you discovered him. it's like: what am i going to do with you? yeah. he's a kid. what am i going to do with you? (man) scene 7, shot 6, take 3. okay. and action. howard. what the hell are you doing up here? thinking? you don't walk out of a meeting like that! you don't just stand up and walk out! you leave a meeting, you say, "excuse me." you say, "pardon me." otherwise, they're thinking that it's something they said. they didn't say anything did they? no. okay. cut. next setup. jason, next setup, i think, is lenny. it's lenny and howard fighting. (man) scene 7. right. it's this mid-ground -- it's the dance. yeah. okay. so, um, it's on tracks, but i th

appointed to the sec by george w. bush in 2008, has worked in the cftc. talks of the fiscal cliff trudging along, president obama and house speaker john boehner talking on the phone saturday. are we any closer to a deal? and it is a bird, it is a plane. nope. it is your social security number, it turns out more than just balloons in the sky at this year's macy's thanksgiving day parade. the crazy details of this one just ahead. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a mo

i recall some of that, but try not to recall all of it this sec. you could have the same efforts that happened with "run he had run," and progress for all," in the context of a write-in campaign and i'm not sure under this definition it would get captured. that is why i'm hung up on qualification versus election. >> may i ask you a question about that? >> sure. >> it's not clear to me why that is materially different from what we have? >> well, again it's not necessarily the election of a person. that is not necessarily the goal of the committee or the committee would assert that is not their goal. it's to get them to run and, in fact you might have a committee whose goal is to get someone on the ballot, not to get them elected, but to get them on the ballot to drain votes away from someone else as to help someone else's chances of getting elected that the whole thing is a big trick. you know? we're all operating in good faith in this room, but there are others outside of this room that may not be or may or may not be watch this. >> what was the la

president obama will appoint current sec commissioner to run the agency. all right.ow to our top try. warren buffett support for raising taxes on the rich takes a controversy in its turn in an op-ed in today's new york times. the billionaire investor says let's forget about the rich in culture ridge. income is increased. forever for see investment of the charities. so buffett is on target with this. raising taxes on the rich actually have no affect on their investment behavior. let's bring in scott martin, chief investment strategist and founder and ceo of market 76. thank you for joining me. give me a reaction to this. >> i'm really surprised. i look at buffett as asavvy businessman and one who would not put a dime toward the u.s. government if he had a choice with regards to a buyout because certainly is not a great balance sheets they carry. it just doesn't make a lot of sense for me to say, if you're going to rase the barriers to entry, change the overa landscape of something like raising taxes on investments, why you don't think that would discourage investors.

sec in maryland, equal marriage. rights and responsibilities should be open to everyone, no matter who they are or who they love. i don't think we fully appreciate how important that issue is as a civil rights issue to young voters. so when i look at youth turnout and have a margin president obama got with young voters, again a smaller cluster of what they see as civil rights issues making college more affordable may work there. bottom line, it may look to an outsider as if not much has changed. we still have a democratic majority in the senate and the republican majority in the house. the look of the different people who have not been elected to congress. look not just at their faces, but their life experiences and you'll see a change to truly reflect the changes in america. and the senate, we have four new women senators. we're fixing comments, all of whom got elected. with five challengers are five new candidates. for the the five were reelected. in fact, if i step back and look at the election year as a whole, 33

. >> i don't want to be married to an sec -- any sectors. the end of the day i am still oveeweight cash. they're growing their online business to be shipping more goods from the store more efficiently. margins are improving, sales are improving, and you don't see that. when elected as a result, some of the markets may not be as good as the market expected demand if they work i think the street may have caught up to. david: our stock ninja. and while some may not be an engine, he is taught in our books. good to see you again. liz: sandy leaving a very expensive path of destruction in her wake. huge amounts of trash. what happens to it all? we will take you live to the parking lot that has trash mao's that are growing by the thousands of tons per day. david: an update on a story we broke on fox business early today. a computer problem grounding united jets earlier today causing a travel nightmare for all of those folks stuck in the airport. we have the very latest. liz: plus, a portfolio plays for all those of so popular but never met new year

. >> the home depot sec on cbs is sponsored by: >> [crowd noise]. >> verne: i wonder if that same moonvisible over new york tonight? let's go back to the studio for this update with adam zucker. >> adam: the number 2 team in the bcs standings. john hubert of kansas state. 2 touchdowns to break open what was a tight game against oklahoma state. they lead by 17 now with under 9 to go in little manhattan. back to you, sir. >> verne: all right. 11:51 to go here. 1st and 10. lsu took the lead after a fumble recovery at the 10 yardline. that was a miss. >> gary: self-inflicted. >> verne: yes, and lsu hasn't turned the ball over. mettenberger hit 7 of his last 8 passes. that's a flag. >> gary: that's what they did in the championship game. jumping offside and making it first and 15. >> referee: number seven. 5 yards from the previous spot. sill first. -- still 1st down. >> gary: there you go. >> verne: my gracious! >> gary: number of plays. averaging 58 for the game. >> verne: the only other team that went above 300 yards against alabama? georgia southern. the first time it's happened since t

gathered for a delayed but sec tack already party in addition to the costumes and treats they hosteddren and families to get a break away from the hospital and treatments. >> we're all here and it's the first time here. it's very very xdnice. >> now, they have these collection parties as they do stuff for the kids and to make sure that the families have a strong support. >>> tonight we have learned that brook has been diagnosed with thyroid cancer. she said that they discovered it and later realized that it was cancer. >> which means çóthat i am goin to have a nice big scar right here on my neck and i will get to walk around and pretent like nothing happened or not share it. it's going to be dead center. >> she says that her doctors assure her that she will be okay. >>> we want to give you a chance to send her well t(wishe to brook. you can leave them on the facebook page. just look for the hot topic post. >>> now, maryland's most act rate forcast. >>> okay. a look at what's left of the norrester it was a storm and now across the state the skies i are clear. tonight it's a clear sky

in terms of expanding mortgage lending, the growth of the housing sec to you said beyond interest rate i have to mention interest rate policy. i think one of the strongest things that we can do is maintain low mortgage interest rates. they are at historic lows, as you know, and combined with a 30% decline in house prices across the country, it means we have extensive affordability now for people who are interested in buying new homes. now, the reason i bring this up is that i think there are some positive dynamics that can occur here, in particular, to the extent that the housing market appears to now be moving in the right direction and we are beginning to see increases in house prices. that, in turn, is going to feedback on mortgage learned decisions, because one of the reasons that they are -- they have been keeping mortgage conditions tight is that they have been afraid of further house price declines, a weak economy, unemployment, those sorts of things that could lead to mortgage defaults in the future. so, i think if we can get ourselves into a positive virtuous circle here with