and boris is a member of the nodal exchange and formally of the international security exchange and the dortch of bursa group morris good to be with you again last time we spoke a little bit about exchange traded products and there's been an investigation by the financial other financial regulatory association and perhaps the f.c.c. is looking into this even perhaps my old agency the c f.t.c. because these exchange traded products that we've been discussing last several weeks we spoke last time that we were together involved the volatility of decks explain first of all what the volatility index is sometimes they call the fear gauge explain to our viewers what that is short so the vix at the c.b.o.t. has been around for quite some time it uses a combination of implied volatility calculations based off of s. and p. five hundred options that is the flagship product of the c b only to create and then. x. that implies near term volatility now over the past dozen years it's become an incredibly successful vix futures products and a vix options products so the vix itself is just is just a data

and boris is a member of the nodal exchange and formally of the international security exchange and the door to bursa group morris good to be with you again last time we spoke a little bit about exchange traded products and there's been an investigation by the financial other financial regulatory association and perhaps the f.c.c. is looking into this even perhaps my old agency the c f.t.c. because these exchange traded products that we've been discussing the last several weeks we spoke last time that we were together involved the volatility of decks explain first of all what the volatility index is sometimes they call the fear gauge explain to our viewers what that is sure so the vix at the c.b. only has been around for quite some time and it uses a combination of implied volatility calculations based off of s. and p. five hundred options that is the flagship product of the c b only to create an end . x. that implies near term volatility now over the past dozen years it's become an incredibly successful vix futurist products and a vix options products so the vix itself is just is just

approved exchange listed products available to every securities account institutional retail investors of all levels retail investors who can't even trade options because they have been approved in fact can freely purchase these inverse leveraged products now it's up to the individual brokers to decide whether or not it's suitable and each one of them has the ability to prevent access to those products and some of them have some of them have done so after the fact but the f.c.c. is now also looking at whether or not these products perhaps should have never been approved in the first place and what additional disclosures might be required the fact is most people don't read disclosures and that doesn't just apply to retail investors most sophisticated investors don't read disclosures either however those investors tend to have a broader and more generally sophisticated understanding of the dangers and the implications of being a long. short some of these funds well you and. many of our viewers may find this surprising but as a former regulator i agree that there's too many disclosures ou

operations specialist at interactive brokers tart he used to be with the the international securities exchange and a member of the which is owned by the dortch of course the group and he's currently a board member at the nodal exchange board thank you for being sorry i did that or was using a back in the day thing appreciate you being with us tell us about this s.c.c. investigation what do we know so i think everyone's heard by now that yesterday the f.c.c. sent out eighty subpoenas to various i c o firms and included as it turned out at least one publicly traded firm that's overstock dot com and their t's zero peroration and it really indicates a heightened scrutiny of these recent initial current offerings so when these things happen and i know what i was and ball didn't we supported it all the commissioners meet the f.c.c. in this instance but what would be. surprised that my former agency is doing the same thing and they agree on what their what it what subpoenas they're going to issue sometimes they give the director of enforcement the authority to do that by themselves most the time the

the securities and exchange commission, the sec, has charged the company's founder elizabeth holmes with massive fraud. once billled as the next steve jobs, officials say holmes, along with her coo, deceived investors, raising more than $700 million bucks by exaggerating and even straight-up lying about the company's blood testing technology. now, neither theranos nor have denied any wrongdoing. i want to bring in a woman who certainly knows this space, kara swisher, executive editor at recode. take us back. because elizabeth holmes was this 34-year-old silicon valley wonder kid, on the cover, "fortune," "forbes," next steve jobs. the world wanted her to be the next big thing. >> let's be honest, we didn't cover that much because it was medical stuff and we don't cover medical stuff. and it really is a medical device. it's not a tech story. it was medical devices. but she was there in silicon valley, had these high-profile investors, larry ellis and a bunch of other people and that's why it got the attention. she had a board stuffed with famous, older men, really. >> george schultz, jame

as a national securitys exchange. today's hearing will examine the economic efficiencies and potential capital formation opportunities that cryptocurrencies and icos potentially offer to businesses and investors and review the adherens to applicable laws so -- additionally the hearing will consider the current regulatory approach that regulators such as the s.e.c. are using to monitor and oversee cryptocurrencies and icos and how to achieve further regulatory clarity in these markets. as further action on how to regulate cryptocurrency and ico markets is considered, it's important that innovation in the area of digital currencies and capital formation are not stifled while ensuring that consumers are protected, fraud and prevented and securities laws are followed. the chair now recognizes the gentleman from minnesota, mr. ellison, for 2 1/2 minutes for an opening statement. >> mr. chairman, thank you for calling this important hearing today. as important as it is, there are some other things happening that i want to a

taxes on five point six billion dollars in profit and twenty seventeen according to amazon securities exchange commission filings cited by the institute for taxation and active over there but you're one look into your crystal ball and how do you think finance will be changed through decentralization except if you look for example i don't know three or five years from now what will look like. well i think it's going to be varied and let me start with just financial inclusion it's not just about the sophisticated technology financial clues in is a very important part of block chain because this is a three hundred m. billion three hundred eighty billion dollar industry where it's about closing the critical app for small businesses and also bringing adults that are not a part of the financial system into the financial system and elevating their spending so that's a very important part of what's happening with large chain they will not the people in the emerging markets will no longer need branches they will be able to do everything on mobile phones and have settlements very quickly while i also se

. >>> the securities exchange commission has launched a worldwide investigation into crypto-currency.e.c. violations. >> best buy is shuttering 250 of its stand alone mobile phone stores in this country. the stores opened more than a decade ago when the mobile phone business was growing fast. but they said running the locations cost more than its larger stores and accounts for only 1% of its total revenue. >>> and the oscars will be handed out this coming sunday, but a few nominees will walk away with a big prize even if it's not the gold about statue. swag bags are an oscar tradition. this year the gifts are worth at least $100,000. included in the bag, a 12-night trip to tanzania for two, edible jewelry from chaka teen. 23 and me genetic service, a come flikt-free diamond necklace. >> anne-marie. i'd just take that over an oscar. sounds pretty good. diane king hall at the new york stock exchange. thank you so much, diane. >> thank you. >>> still to come a lifeline to communities is threatened. a certain health care provider is facing an uncertain future. fibromyalgia may be invisibl

you know how secure exchanges might be what's your advice for people out there? mean, you know, i was only involved in the exchange space for a brief period of time i have been more focused on building actually these platforms. but you have to be very careful. obviously, there is a new -- all this technology is new and you know, like try to keep your money in the most reputable exchange i don't have that much advice about the he can change stuff. >> let's move on to the platforms. cofounded ripple and moved on to cofound stellar because of differences in opinion, philosophy differences that you wanted to operate the platform on can you tell us what the key differences are between ripple and stellar? because a lot of people think of these two as the preferred platforms for the financial services industry. >> right so what we are trying to build at stellar is an internet level protocol i think it's important that that be done by a non-profit entity like if you imagine internet created by a for-profit company we would be in a different world. that's essentially what

of tech company if there were a nose nk was charged with fraud by the security exchange commission and forced to pay five hundred thousand dollars for lying to investors through our nose had promised cheap and fast blood testing using a new app and we'd like to see a world in which every person gets access to this type of basic testing and the types of tests that are done are ones that provide insight into the onset of disease in time to do something about it but it was all a scam instead of using cutting edge technology it used old fam some equipment and even lowered its prices to appeal to investors and that wasn't the only way holmes brought in clients she also had some political clout secretary of defense james madison sat on the board of directors and unwittingly turned out to be instrumental in negotiating with the department of defense in two thousand and fifteen a wall street journal first revealed the issues however mattis wasn't convinced serranos had demonstrated a commitment to investing in and developing technologies that could make a difference in people's lives including

with the securities exchange commission or s e c so the f.c.c. is taking a close hard look at this industry and i think a lot of people are now looking at what are the proper exemptions that they can use to raise capital for tokens legally moving forward and they're particularly concerned derren aren't they about the the i c o z initial coin offerings and the chair of the f.c.c. j. clayton told the senate banking committee not too long ago that it was actually illegal that people weren't abiding by those so all this money has been raised by these ice c.e.o.'s for really some crazy things we even reported one that may be in the the offing with regard to be the the rapper's son young dirty that may be coming up in the near future so i mean some of these things are sort of nutty out there is there a realisation among those who don't want any thing to do with the government there and that maybe there is a role somehow for some government regulation here or they just still want to say no nothing. look there's absolutely a role in the need for governme

we are not directly regulated by the securities and exchange commission, so unlike our corporate counterparts who are directly regulated, very forms driven, there's a comment period, there are regular reports filed, the municipal securities department is own regulated, and that is due in part because when our -- the federal regulatory regime was setup for corporate securities, municipal securities were deemed as safe in the first instance, and then -- and as a practical matter, there are 45 to 50,000 municipal issuers throughout the country, so you have states, you have cities, counties, townships, school districts with their laws and prerogatives, and so it would just be impractical for the federal government to regulate all of these issuers. but the s.e.c. does indirectly regulate our marketplace by regulating indirectly our dealers and prescribing the rules by which they can underwrite securities. a couple of those is one they have to get an official statement where they can underwrite bonds, and two, they have to get a commitment from the issuer to provide annual financial and operating d

range of industries beyond finance blocks chain is the underlying technology that facilitates a secure exchange of crypto currencies a blocked chain record of transactions is transparent protected by cryptography and distributed across many personal computers making it difficult for someone to tamper with the network or create fraudulent entries blocked chain has been touted as the next internet two point zero with the power to potentially in corruption fight global warming prevent election fraud and lower health care costs those are all really big claims so here to help us understand how this could be possible joining me on the set is catherine foster executive director of the group blog chain labs for open collaboration or block her work has dealt with addressing sustainable development climate change and humanitarian issues. and he also in texas i had they had the tell the well what you do while you're important i am the director of the digital currency initiative at the mit media lab and we focus on doing fundamental research and trying to build the internet a value system on t.v.'s high in

. >> ever since the early 80s security exchange commission, the sec has had a safe harbor for stock buyn it first came into place 2% of the corporate profits or net income were spent on stock buy backs. today it is closing in on 60%. and we were seeing all sorts of ill effects of this. we are seeing companies instead of looking at the long-term health of the company and their boricers a workers and making investments and reinvestments in their equipment, we are seeing so much money spent on stock buy backs. it is where i really focus. that's not generally shared with the workers who contributed to those profits and their net income. so i want to see the safe harbor come to a close and this amendment would also require companies to say, you know, do they have any unfunded liability in their pension? have they raised wages of workers so we can know whether they are basically just enriching their share shouldeho. let me give you one example that is really weighing on my mind. kimberly clark, a company that opened in 1872 just got a huge tax break because of the republican tax plan. they ma

the president has made at least two very generous offers to extend the daca deal in exchange for border security and border wall funding that was the most recent offer made to democrats and they continue -- brian: right. >> to not want to help these people. it is beyond me how they go out on tv and cheer and champion saying that they want to do what they can to help daca recipients but the two opportunities they have had, they haven't taken them. they continue to ignore the real problem at hand, actually address it with real solution. brian: senator mike rounds bill had 54 votes. the senate didn't back it because it didn't have lottery or chain migration in it. might the president bring that up, look for the desdeal possible or lay out say it is four or nothing? >> it is possible, the deal offered earlier this week included a three-year extension for daca, in exchange for the border wall and border security funding. the full amount that he is asking for to do that, and that was the deal that democrats continue to reject. so we're hoping that at some point they decide to actually get serious and

holmes was prosecuted by securities & exchange commission. while shkreli was sentenced by federal jury. homes cooperated with federal investigators while he mocked them at every turn. while i courted media, shkreli was a lone wolf a oddball offered his twitter followers money for returning strands of hillary clinton's hair. shkreli gained notoriety raising price of a drug of a life threaten are pa a sight infection in babe is and compromised immune systems, raising the price 5000%. he was convicted of three of eight charges but none dealt with the controversy. holz was charged with stealing $700 million from investors to develop a analyzer that could analyze lab tests with pin trick. the lab instrument homes promised used in a small portion of tests. errors in the results abounded. charles, back to you. charles: moral of the story the cool kids still get the breaks even when caught with their hand in the cookie jar. >> cool and expected. charles: thank you very much, gerri, intriguing story. >>> is an immigration deal in sight? we're getting

reporting companies, traded on a national securities exchange. as public companies, they are subject to the full set of investor protections under the securities laws, but also gain access to much deeper sources of capital. indeed, under the current system, eight regulation a+ issuers have already listed their shares on an exchange, becoming true public companies. this positive development suggests that regulation a+ is working as congress intended, and expanding it would discuverage companies from becoming -- discourage companies from becoming truly public. however it is also clear that an additional study of the existing regulation a+ exemption is warranted. a series of recent press articles highlight the high risk of loss that investors face in investing in companies that have used regulation a+ even when those companies later list their securities for trading on an exchange. according to a february, 2018 article in the "wall street journal," seven out of the eight companies that listed their securities for trading on n exchange in 2017 followi

bitcoin and cryptocurrencies are plummeting after a warning from the security exchange commission. >>avoid, quote, unlawful online platforms for trading digital assets. it could give the wrong impression they meet regulatory standards. you should ohm buy and sell on exchanges registered with the s.e.c. we have more on this at abc7news.com. >> a new report finds about 66% of millennials have not started saving for retirement. the national institute on retirement security finds about one-third of people between the ages of 21 and 32 are saving for retirement. most have less than $20,000 save. they cannot afford to put money aside after paying bills, rent and making student loan payments. >>> speaking of money, let's take a look at how the stock exchange is doing this morning. it looks like we're about where we were when we looked at it a few minutes ago. up 118 points. >>> today is international women's day. a fast food chain is honoring women in an eye-catching way. take a look. the mcdonald's fra the golden arches upside down. >> mothers deserve more than mother's day and birthday as

essentially she's now settled with the security exchange commission for around half a million dollarsn't be able to hold a directorship for about ten years. this is after she misled investors claiming they had $100 million in revenues and she ran 100,000. >> it's really a sad day for kids all across the country. they're the ones losing here more than anybody. but i have one more for you here. disney announced a sweeping and immediate restructuring yesterday as the biggest internal move in recent years. what does it mean? it's also supposedly setting up a possible succession raise for ceo. what can you tell us about that? >> the long time chief executive there, he signed on to a contract up until 2021, so there's a few years left in his contract. he's trying to figure out this takeover effort, but in the long run, obviously they'll be looking for a successor. they've got two options now. long time head of strategy, he's been named chairman of disney's new international direct torr consumer businesses, that's like hulu and also a lot f otoys included in that and it's going to be interes

additionally, the securities and exchange commission already has regulatory authority to increase the current threshold which they exam on a biannual basis. seven of the eight companies with regulation a+ official in 2017 are down 42% from their offer prices as compared to conventional official made during the same period. which are 22% from offer prices. this is to be expected given that regulation a+ permits companies to avoid requirements such as disclosure that are designed to protect investors. if it expanded such exemptions, congress would facilitate increased harm to investors. members should also take notice that with the block change and crip toe currency fever, s.e.c. --crypto currency fever s.e.c. filing and disclosure exemptions like regulation a+ are becoming a popular avenue for initial coin official, that is i.c.o.'s. in the middle of this s.e.c. crackdown on fraudulent i.c.o.'s, h.r. 4263 would potentially expose a larger number of investors, including nonaccredited and sophisticated investors to shady companies, ponzi schemes, and exit scams. the widespread use of pri

the director of securities and exchange commission san francisco office says the case should be a wake-up call to would be entrepreneurs. >> innovators who seek to revolutionize and disrupt the industry must tell investors the truth about what their technology can do today. not just what they hope it might do some day.>> reporter: in san jose, kpix5. >> as part of the settlement, holmes agreed to pay half $1 million in fines and not serve as the executive or corporate officer of a publicly traded company for the next 10 years. >>> some armed robbery suspect in jail after an extensive search along the waterfront in san francisco. the suspect took off when police tried to pull them over on lansing street around 1:30. police put out 10 alerts telling people to avoid the area. you could see officers are driving through parking lots, downed small access roads and even on the grass. chopper five caught two men being taken into custody. police have not said if any other suspects or on the run. >>> prosecutors have released video this evening showing what they claim to be a case of blatant inmate

there will be a swath of the token that will move over to securities exchanges that are coming out, open financial network has one, as well i think you are going to see that bifurcation you could see a bunch of these tokens, we have 1,500 or so now. you might see that whittled down to 500 or so that are really liquid and investmentible. those will do quite well between then and now it's going to be rough. >> talk to me about the puerto rico thing all you go down to puerto rico is this a giant boondoggle does the government think puerto rico could be the next blockchain portal when it doesn't have power for a lot of its residents. >> there is plenty of power here look at the energy behind me there are a couple of jurisdictions really eye vying for this and the government here in puerto rico is obviously looking for ways to attract businesses cryptocurrency is a new business there is plenty of electricity here remember, we are not doing mining here. you are simply setting up businesses here. i do think this is a viable place, as viable as switzerland, as singapore, as hong kong of that's w

the securities and exchange commission is charging holmes with fraud. it also fined her $500,000 and banned holmes from being an officer at any public for ten years. >>> coming up on "today in the bay," kari hall is tracking the storm's time line. >> a live look outside in fremont, that rain will get going right at about 10:00 this morning and it continues as we go throughout the day off and on. we'll talk more coming up right after the break. >>> a quick look there. you see the bay shore freeway itself. the new details. >>> plus, a bizarre death investigation, the search for answers after a bay area woman has plastic surgery and then dies hours later. ad lib live pi francisco >>> welcome back, everyone. taking a live look outside. that's a beautiful look at san francisco this morning all lit up. easter eggs. coloring those eggs right around the corner. spring, seven days away? something like that. >>> oh, my gosh, yes. it's coming up so fast. >> you're a meteorologist. >> a wall of other stuff. >> we have the rain and it's been so good to see it and ho

securities and exchange commission is currently investigating the district's handling of bond funds. >> the san francisco planning commission has voted to block a condo conversion that made headlines when a 100-year-old woman was evicted. tenant advocates argued the owner misled the apartment by failing to state he evicted iris in february. she died after suffering a stroke. canada hadn't actually lived in the unit for years. something her family denied. >> a group of local and state officials toured santa clara county's oldest domestic violence service provider today to learn how to better help their constituents in crisis. abc7 news was in san jose at the nonprofit next door solutions. the group walked through the emergency shelter and met with volunteers and staff who help with the 24-hour hot line support groups and legal representation. >> they handle all kinds of people, have languages, complete services for just many different things. so, it's a good place to come if you have domestic issue or just have a question about domestic violence. >> state senator jim bell said he's wo

securities and exchange commission issued another statement saying online trading platforms should register with the fcc. that sparked concern that tighter regulation could limit trading. >>> this morning bitcoin value is about 10,000 u.s. dollars. it was trading 20,000 dollars last year. >>> uber founder and exceo announced his next project on twitter saying he started a new investment fund called 10-100 focusing on invasion in china and india and real estate. and says it will pursue nonprofit and education and the future of cities. >>> time is 4:23. uber and lyft may have to pay a per ride tax. in oakland. city councilwoman kaplan wants a ballot measure saying under her plan the extra money would be used for road improvements. other major cities have similar taxes. if approved, oakland will be the first city in california to impose such a tax. san francisco's thinking about a similar measure. public opinion is split. >> i think it's worth it for the safety of it. i mean i. use it more if you are not able to drive or safety at night. >> now others in oakland say a tax may affect the decisi

. >>> the securities and exchange commission has launched a worldwide investigation into crypto-currencythe wall street journal" subpoenas have been sent out. many violate s.e.c. violations. the popularity of crypto-currency like bitcoin has grown dramatically over the last year. >> best buy is shuttering 250 of its stand alone mobile phone stores in this country. the stores opened more than a decade ago when the mobile phone business was growing fast and there were high profit markets. but the electronic consumer chain said running the locations cost more than its larger stores and accounts for only 1% of its total revenue. >>> and the oscars will be handed out this coming sunday, but a few nominees will walk away with a big prize even if it's not the golden statue. swag bags are an oscar tradition. a los angeles marketing company hands it out to nominees in major categories. this year the gifts are worth at least $100,000. included in the bag, a 12-night trip to tanzania for two, edible jewelry, 23andme genetic service, a conflict-free diamond necklace, >> anne-marie. i'd just take tha

securities and exchange commission is currently investigating the district's handling of bond funds. >> the san francisco planning commission has voted to block a condo conversion that made headlines when a 100-year-old woman was evicted. tenant advocates argued the owner misled the apartment by failing to state he evicted iris in february. she died after suffering a stroke. canada hadn't actually lived in the unit for years. something her family denied. >> a group of local and state officials toured santa clara county's oldest domestic violence service provider today to learn how to better help their constituents in crisis. abc7 news was in san jose at the nonprofit next door solutions. the group walked through the emergency shelter and met with volunteers and staff who help with the 24-hour hot line support groups and legal representation. >> they handle all kinds of people, have languages, complete services for just many different things. so, it's a good place to come if you have domestic issue or just have a question about domestic violence. >> state senator jim bell said he's wo

now the securities and exchange commission is charging her with fraud, fined her $500,000, and banned her from being an officer at any public company for 10 years. >>> storm ranger shows our newest system is off to the north, 171 miles away. we're tracking it through your morning commute for tomorrow. plus several more chances in the seven-day forecast. we'll lay it out for you coming up at 11:19. >>> another dog dilemma for united airlines. tonight the mistake that sent one family's pet halfway around the world. >>> chelsea clinton's in town promoting her new book about 15 women who change the history, and one of those women, right here in the bay area. the local soccer coach who has inspired the former first daughter. continuing coverage no of the tragedy at a veterans home. tonight -- people gathered in brent >>> continuing comp now of the tragedy at a veterans home. people gathered in brentwood to remember the three women killed. the message, moving forward. could be a long road to recovery after last week's deadly hostage situation in yountville. three employees killed, the forme

the securities and exchange committee claims holmes theranos mislead for years. >>> remembering stephen hawking. passed away at the age of 76. >> taught us more about space time and gravity since einstein. >> you can see the logo on the computer attached. hawking worked with intel on special projects. hawking's work in ast stro physics is foundational to his peers. >> and so it is a great loss to science and the community in general that he is now passed away. but will always have his contributions. >> one of hawking's most famous quotations was remember to look up at the stars and not down at your feet. >>> stocks fell on wall street as banks and industrial companies posted sizeable losses. the dow drops all 250 points. nasdaq lost almost 14. and s&p dipped. >>> the ceo is reaping a larger reward. the board of directors has voted to give ceo tim sloan a raise. ma federal sanctions are in place until the bank fixes its problems. >>> a former equifax executive has been indicted on insider trading. being served as the chief information officer for equifax. >> retail giant toys "r" us will

of esther's hundreds of millions of dollars every month a washington based lawyer told the securities and exchange commission and the commodity futures trading commission the nation's top market regulators in a letter monday that his client found a flaw that allows traders with quote sophisticated algorithms to move the vix up or down by simply posting quotes on s. and p. options and without needing to physically engage in any trading or deploying any capital billions in poor diddly ill gotten profits have been scooped up by an ethical electronic option market makers according to the letter show as reported on many. times over many years you know the scams on wall street are the same they just repackage them and they take the old rancid wine and they put it into a new bottle and the vix contract which was a product invented to allow people to trade volatility separate from actually having to own anything was obviously going to be prone to manipulation and it was just a matter of time before blew up and now it has blown up a lot of people have lost tons of money and we predicted this probably no le

officer for consumer credit reporting agency equifax has been charged with insider trading the securities and exchange commission in the us says that john yang exercise stock options after he learned of a data breach at equifax but before it was known publicly he reportedly reaped an inappropriate gain of nearly half a million dollars. the f.c.c. is also charged to lizabeth holmes the c.e.o. a blood testing startup thera knows with defrauding investors while pitching for seven hundred million dollars in capital homes and theran most enjoyed glowing media profiles until twenty fifteen wall street journal exposé raise doubts about the company's claims and management. and i told you alex mahela bitch had something fishy to talk about well a nightmare scenario reported back in two thousand and six seems to be coming true fish stocks not stocks traded on an exchange but actual fifty's those stocks around the world are quickly depleting raising fears of an apocalyptic scenario in which the oceans will be empty by twenty forty eight alex explains from toronto alex i know i'm sort of kidding about the fishing

the kushner family business, and today abc news has learned that soon after that loan, the securities and exchange commission closed an investigation into apollo. there is no evidence of a quid pro quo, but serious questions about that time line. jared kushner's lawyer says he has taken no part of any business, loans or projects for his family business since joining the white house. and from kushner companies, we do not update jared on what's going on in our business, nor does he ask. the white house is standing by him. >> jared is still a valued member of the administration, and he's going to continue to focus on the work that he has been doing. >> reporter: at the beginning of the trump presidency, kushner's portfolio seemed all-encompassing. >> every day i come to work with enthusiasm and excitement for what could be. >> reporter: but kushner has been stripped of his top secret national security clearance, and "the washington post" reports, several countries believed he could be manipulated because of his inexperience, and financial debts. >> did you see "the washington post" has a story about