sec. mnuchin: pleasure to be here. mr. rubenstein: let me give a brief introduction, and then we will go into some questions. secretary mnuchin is the 77th secretary of the treasury. he is a native of new york. graduated from yale in 1995 , where he was the publisher of the yale daily news and also a member of skull and bones, which he cannot acknowledge because it is a secret society. 1985 -- is that right? sec. mnuchin: if i were, i cannot acknowledge it. mr. rubenstein: he joined goldman sachs in 1985, became a partner in 1994, and rose up to be a member of the management committee. he was the chief information officer of goldman sachs. he was also head of the mortgage securities department at he left one point. in 2002 after 17 years and armed june capital, which did number of financial investments, one of which was in the bank, which he bought from the fdic. he also was involved in the entertainment business. entertainment, he financed and coproduced a number of movies -- avatar, mad

sec. sanders: good afternoon. light crowd. as we speak, several are on capitol hill producer pitting an ongoing budget negotiations with congressional leaders. the president urges democrats to adhere to the so-called schumer role and that holds the government hostage in an attempt to advance a radical, political agenda. we must fully fund our military and make sure our brave men and women in the uniform have what they need. they're always there for our country and we must not let partisan bickering getting in the way of taking care of them. the president wants a clean funding bill that takes care of our military and keeps our people safe. with that, i will take your questions. cecilia? cecilia: thank you. the president said when he not only lost his job, but steve bannon also lost his mind. does he regret hiring him? sec. sanders: i think the president's statement is pretty clear on what his opinion of steve bannon is, and i do not think there is anything to add. cecilia: they did have a l

sec. nielsen: thank you for the opportunity to testify before you today. i submitted my full written statement for the record and would like to take this opportunity to share a few thoughts with you. the men and women of the department of homeland security are working tirelessly everyday to make our community safer and our nation more secure. i'm honored to be here today to speak on their behalf. i look forward to working with the committee and each of you to give these heroes the authorities and resources they need to do the job that you have asked of them. today, dhs and the department of justice issued the initial so-called section 11 report prescribed by executive order 13 780 protecting the nation from foreign terrorist entry into the united states. i will encourage you all to take time and read it and we will be happy to work with your staff in the coming days to answer any questions you might have. i would like today to take the opportunity to highlight some of the findings. so much

sec.chin: i was. byhought we did get it done august. obviously, the health care delayed things. this was a well thought out plan. mr. rubenstein: it didn't go , meaningegular order committee hearings and so forth. do you think regular order is more or less a good thing to of lloyd in tax legislation, or are you happy with the way things went? -- technically it did go through the committee process and regular order. mr. rubenstein: if there anything in the bill that you wish was not in their or you are not happy with? overall, in: i think couldn't be more pleased with it. if you look at the process -- and i think what worked well is the house committee worked on taxes and thinking about this for a long time. way before the president and i showed up, they had been working. during the campaign, and developing the economic program, we spent a lot of time with the president thinking about taxes. taxes were a major part of his platform. i think we couldn't be more pleased. that is not to say eve

sec. nielsen: thank you for the opportunity to testify before you today. i have submitted my full written statement for the record and would like to take this opportunity to share a few thoughts with you. the men and women of the department of homeland security are working tirelessly everyday to make our community safer and our nation more secure. i'm honored to be here today to speak on their behalf. i look forward to working with the committee and each of you to give these heroes the authorities and resources they need to do the job that you have asked of them. today, dhs and the department of justice issued the initial so-called section 11 report prescribed by executive order 13 780 protecting the nation from foreign terrorist entry into the united states. i will encourage you all to take time and read it and we will be happy to work with your staff in the coming days to answer any questions you might have. i would like today to take the opportunity to highlight some of the findings. so

sec. sanders: he never set down with the president, to be clear. conversation brief that had nothing to do originally with the book. five to seven minutes in total. that is the only interaction he has had. reporter: [indiscernible] sec. sanders: that is the only interaction the president has had with michael wolff since he took office. reporter: the president's statement with the author statement without the book [indiscernible] sec. sanders: i am not sure what the authors statement is with what the booking to be. i know the book has a lot of things, so far, that are completely untrue. people are coming out publicly and saying that those things are not true. i can't speak to what the author's comments art i can only speak for the white house. reporter: does the white house have a copy of the book? sec. sanders: i believe they are making some individuals that do. the president statement suggests that this deed -- that steve bannon had little influence in the white house. the president eleva

sec. guajardo: we have lawyers doing analysis. the first thing i will do is have dinner with -- karen davos and the first thing i will do is talk to him about this and what the rationale of imposing these tariffs and including mexico in these measures. erik: one year into the trump presidency. talk shop on the mexican economy. sec. guajardo: remember when the president started -- the peso dropped. 18, which means we are in much better shape than a year ago. sec. guajardo: you think of the currency as a report card. erik: that only that. the mexican economy behaved much better than expected. the growth rate was not higher-than-expected, but better than any other country in latin america. we are still not done. we believe we can find solutions for this negotiation that will accommodate the three countries involved. erik: you are sounding a note of optimism. sec. guajardo: i am always saying that i am not a optimist. i am a positivist which i believe is working on something you can get it don

the sec putting a damper on hopes that bitcoin efts with soon hit the market. but there is a work around being put together for investors bob has the latest. >> the sec declined to approve several efts the sec sent a letter to two wall street trade groups outlining their concerns first the valuation. they are concerned the funds may not have the information necessary to value cryptocurrencies second, liquid it. funds must be able to have enough liquidity to be easily redeemible and the sec is concerned about custody. how can they prove if bitcoin when is the keys are private how would a fund intend to validate they really own bitcoins an interesting questions finally, the sec is concerned cryptocurrencies have less protection than other currency markets and there is greater tune for fraud and corruption. that's the most important point. put it together, while the sec hasn't definitively turned down bitcoin efts they have set the barrier so high that the answer is effectively low but investors are already looking for ways around the secs objections, for example,

sec. mattis: good morning and thank you all for taking time to come and listen to us here. again, this is the national defense strategy, but what it really is, this is an american strategy. it belongs to you. you own it. we work for you and i will tell you, dean lewis, it is a pleasure for you hosting me today. it is a pleasure to be at a school named for the gentleman that this one is made for. i will tell you he was so wise and how he could select eople. he picked a young man once and gave him a townhouse to help him when he first got into national ecurity affairs. that young man on his couch was none other than george schulz. that says something about his ability to see talent at a young age. there is a lot of talent that comes through here. you all look like promising young men and women because you are all young compared to me. he was also a great and avid scholar. you could agree or disagree with him, but you would not find him flat-footed intellectually. i bring this up because nati

the sec has not taken any action.s notion of a tweet because they haven't done much besides tweet. emily: eric is dying to jump in. >> it is not like the sec isn't paying attention. the sec came out with a statement last week alerting investors to the risks of cryptocurrency investment, telling the market that it is vigilant, that it is pursuing potential enforcement action, and reminding people that this is, as much as anything we've ever seen, a buyer beware kind of market. even if the sec fines fraud, the agency wanted us to know there may be no money left at the end of the day. cory: that is not what their job is. -- investor is protection is one of their jobs. promoting efficient and competitive markets is another one of their jobs. that is one of the reasons regulators have taken this kind of hands-off attitude. whatare trying to find out kind of market it really is. emily: buyer beware indeed. thank you. our editor at larges, erik schatzker and cory johnson. sony has had big moments at the box office thanks to

sec. nielsen: it is an open invitation. the only way that we will be able to protect the border is by working with state and local officials as well owners and the private sector. sen. cornyn: i was in the rio grande valley on friday, saturday, and sunday, hunting the ever elusive wild texas quail. i did happen to go over to a wildlife sanctuary on friday, which is a unique tourist attraction and one that is located within several hundred yards of the texas border. what i am told there is the smugglers, the transnational criminal organizations you alluded to, see that as a vulnerability and so obviously, we need to meet that challenge. i know that chief padilla and others are working hard to do that, but we need to be sensitive to the concerns the ocal community has about a huge economic element there, and something that we entertain a lot of folks from up north, they call affectionately snowbirds down there when it is cold up north. they come down south. it is great for them, great for th

sec.tement was pretty clear. there is not much to clarify or to add. they did have a long and close working relationship. sec. sanders: i think the president's statement fully addresses what his position and what his relationship with mr. bannon is. when was the last time the president talked to steve bannon? is the president now blocking steve bannon? reporter: i am not aware --sec. sanders: i am not aware he was calling his cell phone. i believe the last conversation took place at the first part of december. reporter: [indiscernible] sec. sanders: i don't think it does anything to the president's base. the base and the people who supported this president supported the president and his agenda. those things have not changed. the president is exactly who he was yesterday as he was two years ago when he started out on the campaign trail. as agenda has not changed. he is continuing to fight for and push for that agenda. i think the base is extremely excited and happy with the job this presid

sec. mattis:sec. mattis: good m. peter: good morning. lewis, vice dean at the johns lewis, vice dean at the johns hopkins university school of advanced international studies. before making my brief introductory remarks, i think we will start by asking everyone to silence or turn off your cell phones. we just finished our holiday season and i had the opportunity to go to a couple movies so i am very mindful of turning off cell phones and silencing our devices. it is a great honor to welcome you to today's presentation of the national defense strategy. the nds is the foundational document that determines how the department of defense will contribute to the president's national security strategy which was released in december of 2017. this nds is the first in a decade. nds, but also because its author is the 26th secretary of defense,service ase u.s. central command from 2010 to 2013. following his military service, secretary mattis was a distinguished visiting fellow at the hoover institutio

today congressman greg walden and former sec commissioner robert mcdowell. later this afternoon, sec commissioner, and deputy attorney general rod rosenstein, we will bring you their comments later on the c-span networks. this should get underway in just a moment, live here on c-span2. [inaudible conversations] [inaudible conversations] [inaudible >> inaudible conversations] [inaudible conversations] [inaudible conversations] >> again, we're live this morning for the annual state of the net conference looking at some of the challenges to internet policy in 2018. it should start here in just a moment. while we have a second, we'll tell you about some of the other programming coming up here on the span networks. u.s. senate comes in today at 2:00 eastern. senators expected to work on an abortion bill which also makes it a crime for anyone to violate the abortion bill's ban and they also work on a judicial nomination. the house convening for legislative business at 2:00. members expected to consider several bills, including one to change how athletic governing

sec.auburn in the sec title game. georgia known for strong running game, tough defense. i expect them to try to keep oklahoma and their offense off the field. >> mm-hm. >> speaking of oklahoma. they won the big 12 title against tcu. sooners are all about offense. averaging 45 points a game. the defense, yeah, they scored right there, defense just has to do enough. when oklahoma is running, it's all about their quarterback, baker mayfield, who you may have heard of before, since i won the heisman trophy. mayfield, 41 touchdowns, five interceptions this season, their first meeting between the two schools, georgia seeking their first title since against the. sec. my prediction, oklahoma 31, georgia 29. >> another close game. >> finally, if you're still conscious tonight, clemson, alabama round three. two years ago, alabama won their fourth national championship under nick saban. it was 45-40. last season, crelemson gets its revenge. the game came down to the final seconds. >> ooh. >> that was

which i think some of us realize had to happen the sec is going to pursue individuals as well as theompany. it is behind mr. flynn and had nothing to do with him >> tough is the least of the words of what he may have used for his tenure and, dealt with -- well, difficult earnings right from the start as jim has referenced in power and particular lack of execution there. he says kind of miss the market and moving onto failure of adequately reserve and account for long-term care policies and what they left of a legacy of insurance portfolio and so many questions that continued was it a buck of share that we are working off this year? >> you can figure out a multiple on your own. guys, you know as well as i do, it is a lot of questions and the call is not over >> it is ongoing >> we'll see in terms of dividends whether the cuts are enough and concerns of other liabilities that people may not be aware of. the overall, i don't want to call it an over hang but questions moving towards a full break up which i continue to hear as a decent and if not strong possibility as they continue to rev

[inaudible conversations] but as a former sec commissioner there are a few numbers and letters whichare very important. w7 hq i and that's his amateur radio license which we all had to know at the fcc. why don't we jump right into things and there's been a few things in the new cycle in the past 12 hours or 24 hours or so and one of which has to do with apparently unnecessary counsel someone there has may be recommended that for necessary reasons the next generation 5g networks being built here with private risk capital of united states america should be nationalized, owned and operated by the federal government. so i don't know if you want to think about that longer or if you have an opinion or want to make this. >> personal, thank you. i want to thank melissa and everyone who works on that in helping young people take an interest in getting involved in this internet ecosystem we all hear about. thank you for your service on the fcc. when i chaired the subcommittee on televisions with internet and neurotrophic public service. we appreciate your leadership bringing your brainpower. w

overstock has the first sec compliant ico. that's the way i'm playing it.ow, these are guys are legitimate you can say whatever you want about their e-commerce business, but this is a real business, this is what i'm invested in >> the one thing that jake said that's very interesting, though, is that the administration, which has been relative soft on corporate, takes this as something that they want to go aggressively against and when you hear putin say things that we really want to settle transactions around the world with the ability to evade sanctions, it tells you why governments are involved here. i don't know that that has to derail anything. what i think we've always said here is a little regulation, especially from the sec, protecting consumers in securities themselves is fantastic. that will make this market better >> we see a crackdown on the companies and ico's. does that have any sort of negative halo effect on bitcoin itself >> probably not. bitcoin is a global currency it's subject to each local regulation so i don't think -- it's probably a p

emily: we now have news of senators urging sec to encourage brian krzanich share sell, he is now downo the minimum of his holding. you expect more to happen? discussed, intel says this is a regular program, this is the way the company does this, however, this problem was known to intel before this ban was put in place. people are saying look, this may be a regular plan that they always use to insure themselves against this kind of accusation, maybe that doesn't stand up in this place and that's what these two senators are saying putting pressure on the sec to go have a look. emily: we also have -- out of simple appliances saying they don't expose vulnerabilities to intel? , what does this mean? ian: again, adding to a list of companies that say no real problem here. google says we have passed everything, everything is ok, there is no slowdown. we are really getting conflicting information and what we have to find out, we are working on, what is the truth apparent, a lot of people don't actually know yet. emily: what are you waiting for? ian: we really need to see all of the patches de

[cheers and applause] sec. perdue: listen to this -- he's liberated the american economy by eliminating 860 rules and regulations, cutting 22 regulations for every new one, and a $5.5 trillion tax cut. [applause] sec. perdue: creating 2 million jobs and 85 record highs in the dow jones. three -- two straight quarters of gdp growth 3% or over, and the american optimism is booming. he's restored confidence and respect for our world leadership and rebuilding our military. america has stopped apologizing for being the greatest nation on earth, and we are being respected again around the world. isis is crushed by allowing its generals to do what they knew how to do in the field. here in america, ladies and gentlemen, it's also ok to say, once again, merry christmas. [cheers and applause] sec. perdue: and you know what, as the old song goes, we've only just begun. i want to tell you what an incredible honor it is to serve in the cabinet of a president who is bold, decisive, focused, and passionate about america's pro

sec. nielsen: if you are a current daca register, you still have status. .o one has lost their status no one will lose their status until march 5 or later, depending on what happens with the court. sen. klobuchar: are there any circumstances under which the court would remove a daca beneficiary from the u.s. at this time? sec. nielsen: no, unless they commit a crime and we have 2100 who have. they lost their status and would be targeted for deportation. sen. klobuchar: where their circumstances under the organization that they would remove the dock a beneficiary before the recent court? >> this hearing with kirstjen nielsen continues on our website, c-span.org. we are going to leave it to go live to the u.s. house. we are expecting a brief session and wand will return to the heag when the house goes into recess. live coverage of the u.s. house here on c-span. the speaker pro tempore: the house will be in order. the chair lays before the house a communication from the speaker. the clerk: th

sec will be looking at steve cohen.e has an outside monitor to make sure they are following securities laws. mark: he's been working to build his reputation. didn't expect he will be managing money for clients again. are you surprised? ron: a lot of folks are surprised. i'm not sure how surprised i was. i've never met anybody in the ment industry who retires. it's what he knows best. if i'm looking to allocate, compliance will get more attention there than most places. is the sec going to look at him so hard that they will eventually find something -- can you comply with the 7000 pages of mifid type laws that affect the asset management industry? vonnie: i'm sure the sec isn't going to go after him for something minute. if you were advising steve cohen now, is there anything more you could possibly tell him? ron: he has short up his compliance. we know with certainty that the sec will continue to conduct exams on his firm to make sure it stays compliant. mark: how much money has he raised? they were ambitions for $10 mi

they have also discontinued low-end variance of its rums and triple sec rands to focus on products like the louis 13th, a $2700 blend of 1200 cognacs, aged more than 40 years. a bit above my price range, but remy cointreau shares are down by 30% today. u.s., a juste scheduled white house news briefing this hour as lawmakers face a midnight deadline to avoid the shutdown of the u.s. government. this as they try to pass a

the sec apparently is taking a look at this as well.t a look at the bedwetting on blockchain on bloomberg.com. it really speak to the speculative fever around bitcoin, that anyone with any crazy background can create something that looks like it might have great value and attract investors. emily: what is your take on this story? jehan: i don't know much about ubi other than that they are in hong kong. this is really indicative of how the entire market is reacting to the phenomenon of cryptocurrency trading. i think it is important to note out of this story that the sec did step in and i think it is a good thing they did investigate. guideposts,ing investigation, some type of structure to the market to try and grow it in a more safe and i think sustainable way. as far as ubi, they are doing what they are doing and maybe they are really blockchain or not. i think what we are seeing in 2018 is really the year of bitcoin and cryptocurrency trading becoming a social phenomenon. emily: what does that mean? jehan: it means that -- i was in ne

[laughter] sec. carson: you are -- jason: you are a government official wh who was long expressed skepticism of the government. o they are playing a somewhat limited role in helping people. balanceou strike that between what the government can do, and what people need to do for themselves? jason: i am against the concept of overwriting government, which tries to interfere with everything we did. that is not how this nation was created. we went from nowhere to the pinnacle of the world in record .ime but we went from thinking the government can solve all the personal problems. i don't like bureaucracy. the rules are more important than the goal. i think it is changing throughout government. governments can be wonderful. when we look at some of our desperate neighborhoods, when the government can come in and provide the kind of confidence and foundation that allows the local government, charities, nonprofits, faith communities to get involved, i have seen it happen in several communities around this co

[laughter] sec. carson: you are -- jason: you are a government official who has long expressed skepticism of the government and government programs. feeling they can take a limited role in helping people. how do you strike the balance at hud between what the government to and what people need to do for themselves -- can do and what they -- what people need to do for themselves. sec. carson: i am against the idea of overriding government. government doing everything for people. that is not how this country was designed. we went from the pinnacle of the world in record time and then we started thinking the government was there to solve our personal problems. i do not like bureaucracy. bureaucrats are people who think the rules are more important than the goals. i think it is changing throughout our government. government can be wonderful but when we look at some of our desperate neighborhood, when the government can come in and provide the confidence and foundation that allows the local government comm

that is what has led to senators putting pressure on the fcc to have a look at it. -- the sec to have look at it. emily: we also have a headline crossing, saying, they don't expose any exploitable vulnerability related to intel, related to either issue. what does this mean? ian: they are just adding to a list of companies that said, look, no problem here. the most prominent among them is probably google. we have patched, everything is ok. there is no slow down. so we are really getting conflicting information here, and what we have to find out and what we are working on is finding out what really is the truth here, and the part is a lot of people don't actually know yet. emily: what's next? what are they waiting for? ian: we need to see these patches deployed, we need to see what material impact it will have. we will see intel report earnings later this month. we will see how it impacts it. maybe people don't buy their chips, maybe people need more of their chips. emily: as a consumer, should you download the patch or not? ian: this has been one of the consistent messages. if you are

the sec says the

it will give you some insight into where this thing might be going when the sec looks at it. some believe that ge has understated and understated, underfunded pension liabilities, this would be under immelt's watch. liz: he's a bigwig from columbia university who knows this stuff. >> the best, i believe, legal guy when it comes to white collar stuff. what he's saying this, all the issues because unfunded pension liability, that's one thing. this insurance liability, that's another thing. a lot of this happened pre-flannery. flannery was there in the ecosystem, but immelt was the ceo. i know jeff immelt, i believe he's an honest guy. if something was done, it was my view it was a mistake. i don't think he'd do it on purpose but can you land yourself in trouble. what coffey is saying is immelt is likely to be under scrutiny like everybody else. liz: what about the board? you got to bring up the boards in these situations? >> remember boards get a lot of the information from the ceos who give the presentation and the sea suite executives, and it's been kind of -- the courts have

emily: so, we have headlines crossing the terminals about senators urging the sec and the departmentf justice to investigate brian krzanich's share sale. we talked about this last week. you mentioned it was a planned share sale, but he is down to the minimum of his holdings. do you expect more to happen here? ian: as we discussed at the time, intel's stance is this has been in place for a long time, this is why companies do this, however, this problem was known to intel before the plan was put in place. people are looking at this and saying, hold on, maybe this kind of a regular plan, the excuse executives always use to ensure themselves against this accusation, maybe that doesn't stand up in this case. that is what has led to senators putting pressure on the fcc to have a look at it. emily: we also have a headline crossing, saying, they don't expose any exploitable vulnerability related to intel, related to either issue. what does this mean? ian: they are just adding to a list of companies that said, look, no problem here. the most prominent among them is probably google. we have pa

remember, last march, i believe, the sec rejected it. basically didn't want institutionalized trading through hedge funds and money management funds and individuals of the bitcoin because bitcoin is a very obscure product, there's not a lot of transparency on the price of bitcoin. it doesn't necessarily trade on major exchanges. you could trade futures but the coin itself is an over-the-counter trading mechanism. but, since that time, as you know, there's been plenty of interest in bitcoin. the price is all over the place, people trading like crazy over the counter. they're going back to the sec with the cboe where they would allegedly list the etf and say listen, if you think we're not transparent, how about some of the commodities that are in etfs? how about gold? where does gold necessarily trade? how about the other things in etfs, the baskets of anything, it could be any sort of currency. anything that -- and currencies are obtusely traded. they're going back with that argument. from what i understand, that argument has some resonan

department of justice and the sec.'s get matt robinson here thisus to explain what investigation is about. what do we know so far? matt: what the government is looking at, what kind of thisosures apple made over particular software update. generally in these investigations, they want to know the message that was being sent and communicated to and also was, material accurate. they are interested in what kinds of statements apple makes about different types of updates. david: how big would it have to be to be material? that is a critical language for the sec. how big to be material? number two, how important is the mental state of apple? did they know what they were saying was wrong when they said it? matt: materiality is always a squishy thing. you have lawyers talking about different aspects. what the sec is concerned with is if you make a statement, it has to be true. if you are making a statement, you are making that information material. in these types of investigations, these early stages, often times these investi

sec year in the nfl as a head coach your team is playing in the super bowl how does it feel. >> this feels great this is what we work for and go to ota's for and one thing to be excited to be here but we understand that it's unfinished business. >> your guys played awesome in the playoffs, how confident are you in this football team? >> really confident and our guys are confident it's what it takes this time of year and you have to play with that kind of swagger. >> i have been the the super bowl before and in the game and how do you keep your guise focused and ready. >> and there are distractions this week with the media obligations and families can come in town and pull in a bunch of different directions and my job is to make sure when we are working we are working and stay on task and stay focused on the opponent and make sure we are doing our jobs and what is the biggest part of this week. >> good luck coach. >> thanks. >> reporter: high stakes coming up on sunday. how relaxed is coach peterson? >> he is very relaxed and comfortable with his team and understand where they have be

sec. armitage: the whole government sounds great, but in order to have a whole government approach you have to have an inventory of what your arrows are to put in your quiver. i don't think we have that. you have to have resources, and it doesn't seem to be you can have a whole of government approach if your resources, at the state department, in insufficient ways. if it wasn't for the congress we would be down 30% in the state department instead of the 10% that the state department is down now. the whole of government approach has to embrace friends and allies. for us to do everything alone is wrong in my view. has to be seen that the whole of government is also diplomacy, also getting coalitions together. >> thank you very much. dr. shultz: a very important point that rich made. it is not only us, but our allies that we have to work with. >> thank you all very much. you have signaled the proliferation issue absolutely critical. and korea if it continues on its trajectory, that may be a w

scarlet: the sec is now investigating general electric.arlier and had formally reported it as part of the results. ge says they are cooperating with the probe. brooke sutherland covers ge. this is an important reminder that their string of bad news is far from over. notceo said that she is overly concerned. is she being too dismissive? : no, but that's not comforting to investors. in november they got up there an said that after exhaustive dive into all parts of ge, the strategy for going forward was supposed to be the big earnings reset. to get this chart months later, and it's not small, it's significant. it does sort of shake your confidence. do they have a handle on the problems? do they know where the skeletons are hiding? at the sec, obviously, there is a lot more to come out. but as you wrote in your piece, it seems sort of baffling that they did not announce this late last year. they have this business for quite a while and should have been aware of it. what went wrong? brooke: we are definitely waiting for more to come out about t

still ahead, the sec demanding more access before anymore bitcoin comes into existence.will explore why, next. this is bloomberg. ♪ vonnie: breaking news, security company adt has opened for trading its ipo'ed, about 10% lower than the $14 appeal -- ipo price. of course, apollo owning about 85% of the company. a setback in the rates for tocoin, sec asking them answer 31 questions about how the product would work. we have eric the coolness -- we have eric balchunas with this and julie hyman. julie: this has been a long discussed topic for the two of us when the etf will come to market. what are the most important questions? 31, we will not go through all but what are the most important? eric: they're about valuation, security, and these are major topics, how would they develop -- julie: and that asset value? eric: it is all over the world on different exchanges, and what would they do to ensure liquidity? will you be able to handle those reductions? and how would this etf attacked against hacks? cad is a big one. there is a bitcoin in sweden that seems to work fine, and i

sec. shultz: -- sec. kissinger: i do not look at the state department primarily into -- in terms of its size. i look at it in terms of its missions. missions should be to supply us with a correct analysis of where we are functioning, developing a group to do things strategically side-by-side with the pentagon. this must have a minimum size. i would eliminate downsizing as a principal objective. there are a lot of special and technical assignments that can probably be dispensed with. the sizet thought that of the state department is a diplomacy. would downsize it for the need for our general foreign policy. little this year's is a too dramatic. me muchltz: you told earlier, when we discuss to this, that the cuts that were proposed have not been gone through and that the congress has limited them greatly, which i welcome. i think it is essential that we have a strong foreign service to do the kind of analytical work that henry was talking about, ability ofe a strong analytical group. work, when i of was sec

submitted to the sec that the sec commented on and back and forth that led to the final filing. would certainly like to be able to have a similar concept at fda where all of the documents that already exist, companies make submissions to fda in the context of formal meetings, fda responds to those with formal responses, all of those meetings result in formal minutes that are ultimately released or provided to the company. this is probably not practical in a single step, but i would like to see if we could envision where we would love to be and get to somehow. if you could release all of that with mechanisms to redact and enable companies to redact information that really is competitively sensitive, that would solve the problem. you know, we're not imposing a whole lot of burden on fda, they're already producing the documents, we're saying we're going to post them on a server somewhere so the public can access. this redaction process would require some meaningful resources, i don't mean to trivialize that, but it is a whole lot easier than what is often talked about and that i th

i can go in and see not only the company's sec filings but the drafts that led to the filing. i would certainly like to see a similar kind of concept at the fda where all these documents that already exist, companies make their submissions to fda in the context of formal meetings. fda responds to those with formal responses. all of those meetings result in forming minutes that are ultimately provided to the company. this is probably not practical in a single step, but i sort of -- >> you'll take it all. >> i'd like to see and envision where we would love to be and get to somehow, if you could release all of that with mechanisms to redact and enable companies to redact information that really is competitively sensitive, that would solve this problem. and you're not imposing a whole lot of burden on the fda because they're already producing these documents. you're saying we're going to post them on a server somewhere where the public can access. now, this redaction process would require some resources. i don't mean to trivialize all that, but it's a whole lot easier what fda str

. >> the sec meanwhi announced a or relacking weekend morning. nbc news. >>> new video into the news room of a spacex cargo ship. it will splash dow of nas cargo. and samples from space station. nasa says after it slashes >> group shouted there are and called for a citizens the anger comes after khan yester trump canceled theprotesters were escorted out by police. >> it is a pleasure to even >> protests came during this >> new at 5:30, from criminal leaker senate candidate, paperw to run for a u.s. she spent six years of a 35-year senten behind bars before the 30-year-old manning is maryla it happened on a trip from some of those on board tried to . >> refused to. that's when i was like calling >> police were able to stop the bus. identi man has not been releas gettin worse. emergency room vis it was absolutely heartbreaking. >> here in california, flu weeks. 42 people have died. >>> a giant statue of jesus in bf the pope is set video shows the statue on fire police still investigating the pope is expected to arrive severa churches were fire >> s

. >> the sec meanwhi announced a or relacking weekend morning. nbc news. >>> new video into the news room of a spacex cargo ship. it will splash dow of nas cargo. and samples from space station. nasa says after it slashes

i personally think it was the right thing to do because the sec a couple of years ctaunder the obama administers and gave them enormous power they should not have finished have the power to regulate every device that hooks up to the internet including automobiles. automobile companies and technology companies make stuff here we are concerned about this because we have seen dependent with a political party is controlling the sec, they can totally block innovation. i was part of the voluntary principles he worked so well for 18 years and we went around the sec and the broadband care is provided, they agreed to provide in the companies -- everyone was happy. it worked great. the truth is, the different sides are not far apart. republicans and democrats and broadband providers and internet broadband using companies, they agree on net neutrality. it is communication that's wrong. and i think there is also agreement that america that what we need is competition. it has 100 different companies providing telecommunications. prices are a lot lower than us and speed is better than ours. why is

coming into those games sec was two and four. the only two that matter are sec teams playing in that national championship. >> in atlanta where ucf went undefeated to cap a perfect 13 and 0 season. congrats. it's unfair there was a conscious effort to keep them out. good season. coy, we want wait for in a national title game. thanks. >>> all right. big domestic agenda facing the president this dwreyear but bef that, flare-ups demand attention. we've got live reports next. i'm so frustrated. i just want to find a used car without getting ripped off. you could start your search at the all-new carfax.com that might help. show me the carfax. now the car you want and the history you need are easy to find. show me used trucks with one owner. pretty cool. [laughs] ah... ahem... show me the carfax. start your used car search and get free carfax reports at the all-new carfax.com. a whole new concept in skin say heldefense.e-tox! new absolutely ageless®... ...pre-tox day mask from aveeno®. its' powerful anti-oxidant formula... ...fights po