chuckles all aroud and the security and exchange commission remember is there to police wall street to keep fraud out of our financial industry and mary jo is going to be at the head of it and obama is pretending that she is just a lady to clean up wall street which is all a big disgusting hoax i knew america because before her new job at the f.c.c. mary-jo was a partner at the wall street defense firm deborah voigt and clinton she was defending. wall street against the as easy and now she is going from there right to the head of the as these see she was a key figure in one of the most notorious scandals of the as easy when someone is as the c. tried to investigate morgan stanley future c.e.o. john mack the as he guy was fired for trying to do that. you don't want to mess with mary jo all right another kind of hers at the firm was the lawyer and two whose china affiliate is being sued by the f.c.c. for refusing to comply with the subpoena she was also representing j.p. morgan chase and u.b.s. ag both of which have reached multiple settlements was as easy over their fraudulent activitie

senate confirmed president president obama's nominee to head the securities and exchange commission. >>> the number of democrats showing support for same-sex marriage continues to grow today. he was the latest to endorse it. he said his views has revolved. that leaves three to come out in support for gays and lesbians couples to marry. >>> jc penny's board of directors ousted its ceo. he was on the job for 16 mungs. they said it led to -- months. they said it led to massive sales drops. >>> wikileaks released 2 million secret u.s. government documents from the 1970s. they are about henry kissinger when he was secretary of state. no shocking revelations so far but the founder insisted that this latest leak is consistent with his mission. >> our analysis shows the u.s. administration cannot be trusted with its control of the past. >> the justice department is investigating him for the leak of thousands of secret documents. >>> arguments begin for an accused killer, and tickets to see the rolling stones are nowen sale, how much -- are now on sale and how much you will have to spend to s

he was then chief of enforcement at the securities and exchange commission, and he admitted in court papers that were part of his divorce proceedings that he had hit his wife seven times. this was printed in not some supermarket tabloid but the wall street journal, which judged, using the new standards, that this was relevant in a story they were already doing about fedders. c-span: what year was this? >> guest: '84, i think. c-span: and you were at the journal then? >> guest: i was on the editorial page, and those were two very separate organizations. it was sometimes said that they didn't talk to one another, and a good thing because when they did talk to one another it wasn't very pleasant. c-span: at the time, do you remember, did the editorial page come out against the idea of publishing this kind of thing? >> guest: i don't remember. i don't think so. i'm just not sure. c-span: that story, as i remember, ran up on the first page. >> guest: yes. c-span: about john fedders. >> guest: yes, it was a front-page story. c-span: what impact did it have on his and his wife's life? >> gu

the securities and exchange commission spent months looking into what happened and issued a report thatwed a perfect storm of conditions. it was an unusually turbulent day already for the markets driven mostly by stuff going on in europe. there was one really big trade, on purpose, legitimate trade that added to the volatility. structurally they said the quick trade nature of the markets essentially massively augmented the damage that was caused by the other things coinciding so for that reason to the extent that is a reason we got the 2010 flash crash in may of that year and all of the trades had to be annulled fas they were a fake marriage. weird things happen in the market. 6-year-old headline, weird, inexplicable volatility day and stuff getting annulled. weird stuff happens. then there was what happened to the markets today. this is cnbc today just after 1:00 eastern. >> the markets kind of fall anne part here a little bit just a few moments ago. now all the way back up. in a very short period of time take a look at the right-hand side of your chart. we saw the dow jones industrial

. >> i talked to the securities and exchange commission and the fbi today, both agencies decline today say whether they have launched investigations. reporting live in san francisco's financial district, ktvu channel 2 news. >>> california lieutenant governor says the time is now to legalize marijuana. in the huffing ton post the mayor writes "the time has come to deidealize, tax and regulate marijuana. anything less is not enough "at the california democratic state convention this month, he said marijuana prosecution hits latinos and african-americans the hardest effecting their ability to find work, housing, and financial aid. >> the war on drugs is abject failure. we sent a higher percentage of african-american males to prison and jails in this country than we do to college and universities in california. >> there is some study most politicians are secretly in favor of legalizing marijuana but are afraid to say so in public. so far only washington state and colorado have legalized marijuana for recreational use. i did try to get gavin to do to talk more about this, but i haven't hea

the senate has confirmed former wall street prosecutor mary jo white to head the securities and exchange commission. let's jump on in and take a look at the markets with doug rothschild of performance trust investment. doug, you follow the bond market...it was a miserable jobs report friday---what kind of bond action did you see after the report? > >you did see a bad jobs report come out on friday and the market reacted, certainly the bonds. and you've seen yields at their lowest point that we've seen in sevearl months and a pretty big---about 30 point move in the bond market in the last couple weeks. what's really driving that is thew swingback in sentiment of investors that the fed is going to continue its purchase program. and they're going to continue to buy bonds and keep rates low. > > earnings season kicks off this week. what are you watching? > > so you've heard about the big rotation of investors moving out of bonds and into stocks. we're gonna be watching earnings season to see if the earnings are gonna prove that out. we're looking for strong earnings potentially. you saw strong earnings

out the other day his company, the sands corporation, admitting in filings with the securities and exchange commission that they violated the foreign corrupt act and engaging in bribery overseas. aren't there some real problems for society when you have billionaires who can essentially give unlimited amounts of money. he gave over $100 million to those super pacs. isn't that troubling for you at all? >> you have to separate the issue, saying somebody who is a donor has admit something to the security and exchange commission, it's unfair to say that the campaign shouldn't associate with that individual when we're not told that information ahead of time. we do a very good job of vetting all the contribution. every bundler every time we go to someone's home, we do research to make sure to know if there's anything there that can possibly embarrass the campaign. with thousands of people serving as bundler and donors, you're going to end up taking a contribution from someone who may openly have to refund. >> i guess the larger question i'm trying to get at over here is whether there's any -- the republican

enterprise institute another notable name is mary shapiro former chairwoman of the securities and exchange commission and stepped down from her post for a cushy new job position on general electric's board of directors these of course are just a few of the countless examples of this public private trading of influence so i hope we talk about a few more example of the revolving door and why you should. hear about the sketchy practice i'm joined now by rachel curtis our producer. so aside from all these examples that i just mentioned i mean this is more prevalent than ever before of course and in the land of d.c.t. which is like what i like to call it when obama got elected originally so that he would not have any lobbyists on his cabinet of course we know that that's not the case let's go over just a few people. that we haven't talked about yet burwell yet sylvia burwell is still waiting to join the cabinet she is the nominee for the office of management and the budget which means essentially she's in charge of allocating all of the money in our government which is you know a pretty hefty task if you

my teeth at the security and exchange commission in two years ago. i have a phd in economics. when i'm not do not begin stuff, i'm typically writing. >> you write out bloomberg government. bloomberg government. >> we have our own network. build abloomberg business around the bloomberg terminal. bloomberg is in many different businesses. one is bloomberg government. it is an information service for that provides economic analysis of the business impact of government decisions. we also have information for clients that want to know a lot about congress and government contracts and so forth. >> we have members of congress on this row graham discussing wemunications issues -- often have members of congress on this program discussing communications issues. >> our book is an endorsement of that position. there is a new framework for the sec and a new stature that calls for a narrow scope of fcc. it is something along the lines of the limits would have talked about. is that what the new telecommunications act would be, we would be for that. there is controversy over virtually everyth

missed it yesterday, the senate quietly confirmed the president's choice to head up the securities and exchange commissionmary jo white. she could be behind her desk in the agency as early as today. she was approved by unanimous consent, receiving strong bipartisan support. an official vote count was not necessary, it happened today. spent the last 10 years in new york, but before that was a former federal prosecutor. journal,"- "national focusing on the gun debate and gays in this country. gay marriage is getting political traction and the gun debate is not -- "why gay marriage is getting political traction and the gun debate is not." ise diverging trajectory bewildering. there are no bandwagons for gun safety laws, no senators rushing to the cause on a daily basis, only a slog against long odds. support for same-sex marriage, one of the conclusions is that it is a generational thing, with younger generations supporting gay marriage, but there is no support at any age for gun legislation." bill, new hampshire, independent line, good morning. caller: first off, i would like to say that i do not know where

>> guest: i cut my teeth with the securities and exchange commission many years ago. i have a phd in economics. jalisco robert litan, at bloomberg government, which is? >> guest: a subsidiary of bloomberg lp. that's not all of course. michael bloomberg started a fabulous career after salomon brothers and built an enormous business or in the bloomberg terminal and a bloomberg is in many, many businesses. one of which was started two and half years ago, which is an information service that provides economic analysis of government decisions. we also have information for clients that want to know a lot about congress and contracts and so forth. >> host: robert litan come whenever we have discussions of issues, dare we often bring up a 1996 telecom act and whether it needs to be updated. guess who we are arguing for a new framework and the statute in effect calls for a narrowing of the scope and something that is along the lines we talked about in this program. so if that's the telecommunication sector 2013 or 2014 would be, we'd be happy with that. >> host: d.c. the act o

the securities and exchange commission ruffling some feathers with its new policy on social media. the s.e.c. saying it is okay for a company to use sites like twitter or facebook to release key information, as long as they tell investors in advance which social media tool platform they'll be using. >> this all came up, you may remember, when netflix ceo reed hastings got into some hot water last summer, in july, after posting monthly viewership results on his facebook page rather than in an s.e.c. filing or as part of a news release. >> the s.e.c. says that hastings is now in the clear. warren buffett does not agree. his business wire firm, which puts out press releases and regulatory disclosures, has some real concerns about this new ruling. joining us right now to talk about it is the president and ceo of business wire, kathy baron tamraz. thank you so much for joini ini us. >> nice to be here. >> help us understand and your reaction to the s.e.c.'s decision for companies using social media to communicate company announcements. do you believe it's not as big an audience to warra

investors argued the securities and exchange commission "....failed to adequately investigate bernard madoff despite nurmerous warnings." a second u.s. circuit court ruled: the sec's inaction in the scandal is protected by federal law. the madoff ponzi scheme cost investors $17 billion dollars. there will be no golden parachute to rescue former jc penney ceo ron johnson. johnson, who came from apple, was dismissed this week from jcp due to poor performance. johnson had a deal with penney to be paid mostly in stock when he became ceo in 2011. he owns 900,000 shares of penney stock.. but it only has value if penney stock climbs above $29 dollars. the stock closed last at $14. hedge fund manager bill ackman who has a major stake in jcp gave the stock a bit of a lift yesterday when he told reporters he's standing by the retailer. investors rolled out the welcome mat for taylor morrison this week. shares of the homebuilder opened up 6.1% yesterday, from its ipo price of 22 dollars and closed at $23.04. the return of the housing market has sparked an interest in home building stocks. also n

the securities and exchange commission and the f.b.i.re investigating the hack-attack on the associated press. investigators tell us, scott, the syrian electronic army sympathizes with the regime of assad as it clings to power in damascus. >> pelley: major, thank you. there was a twist into the investigation into letters containing the poison ricin that were mailed to the president and two other politicians. the mississippi man accused of sending them, paul kevin curtis, is off the hook. charges dismissed. he was released from jail today. at a hearing yesterday an f.b.i. agent testified that no ricin was found in curtis' home. today agents searched another mississippi home. no word yet if anything was found there. house republicans fired off a blistering report today criticizing former secretary of state hillary clinton. the issue is the attack last year on the u.s. consulate in benghazi, libya. that attack killed the ambassador and three other americans. no democrats joined in today's report. our congressional correspondent nancy cordes

the securities and exchange commission entered a new era. federal regulators say companies can legally use social media to announce news to investors. so long as investors are notified ahead of time. the ruling stems from a posting by netflix ceo reid hastings. the company said it surpassed 1 billion viewer hours per month at the time. >>> the monthly jobs report, big kahuna the markets have been waiting for, what does the number tell us about the economy, where we are and the impact on your portfolio? joining me to talk that, lakshman achuthan and david kelly's good to you have on the program. >> glad to be here. >> are you surprised at the jobs report friday. 88,000 new jobs created in the month of march. the fewest, the worst report in nine months, well below expectations. >> a little surprised, but specifically, these numbers are never as close as people think. our best model for our payroll e employment, about 80,000. two off through times within 80,000 of the estimate. the rest of the time a surprise. it was weak and it was a little bi

the securities and exchange commission has entered a new era.ederal regulators now say companies can legally use social media to announce news to investors so long as investors are notified ahead of time. the ruling stands from a posting by netflix ceo reed hastings. last year on his facebook page, the company said it had surpassed one billion viewer hours per month at the time. the monthly jobs report, the big kahuna the markets have been waiting for. what does the number tell us about the economy and where we are and the impact it has on your portfolio. joining me right

companies got the okay today from the securities and exchange commission to use those types of social media outlets to announce key information, as long as they tell investors which social media will be used. the decision follows the agency's investigation into netflix last year when the company's ceo used his personal facebook page to out the news about the company. >>> today marks the first full day in bankruptcy for stockton, california, the largest u.s. city ever to file under the federal code. among its obligations, massive pension commitments for city employees. and stockton is not alone. across the u.s., unfunded pension debts may total as much as $4.4 trillion. that's according to report last year from congress's joint economic committee. our next guest warns of a coming national pension crisis that could bankrupt many state and local governments. josh row is a professional of finance at stanford's graduate school of business. professor, welcome. good to have you with us. so many questions, so little time. i want to ask first, though, about what is likely to happen to stockton

i cut my thies at the securities and exchange commission many years ago. i have a ph.d. in economics, and when i'm not doing navigant stuff, i'm typically writing. >> host: robert litan currently director of research at bloomberg government which is -- >> guest: a subsidiary of bloomberg llp, maybe not a competitor of c-span, but we have our own tv station, but that's not all, of course. michael bloomberg started a fabulous career after solomon brothers and built an enormous business around the bloomberg terminal, and now bloomberg is in many, many businesses. one of of which is bloomberg government which was started about two and a half years ago which is an information service for pay that provides economic analysis of the business impact of government decisions. we also have information for clients that want to know a lot about congress and know about executive branch agencies, government contracts and so forth. >> host: robert litan, wherever we have members of congress on this program discussing communications issues, they or we often bring up the 1996 telecom act an

the securities and exchange commission is looking into the incident and the sec tells us only the fednd officials at the sec appreciate that. tracy: i bet they do. thank you. that's great. you have a great weekend, sir. all right, it's time for stocks now. nicole, what's the latest on starbucks? don't tell me, they closed down, can't buy any more coffee. nicole: if starbucks closed down, i closed down. i want to talk about prices of coffee, tracy. what we're seeing is the war in the grocery store. what we have seen his the actually lowered their prices by 6% and that was in february. starbucks is lowering their ground coffee by the bag in the grocery store by about 10%. 12 ounces will be $8.99 instead of $9.99. obviously a competitive game. if you want to buy a cup of coffee at starbucks, that will be the same. i'm just talking but if you are shopping in the grocery stores, it could be a little cheaper. tracy: it is not often a pass on savings to us customers. i think it is a feather in their cap. we will see you in two minutes. dennis: it is a bold statement, the worst compan company

out the other day his company, the sands corporation, admitting in filings with the securities and exchange commission that they violated the foreign corrupt act and engaging in bribery overseas. aren't there some real problems for society when you have billionaires who can essentially give unlimited amounts of money. he gave over $100 million to those super pacs. isn't that troubling for you at all? >> you have to separate the issue, saying somebody who is a donor has admit something to the security and exchange commission, it's unfair to say that the campaign shouldn't associate with that individual when we're not told that information ahead of time. we do a very good job of vetting all the contribution. every bundler every time we go to someone's home, we do research to make sure to know if there's anything there that can possibly embarrass the campaign. with thousands of people serving as bundler and donors, you're going to end up taking a contribution from someone who may openly have to refund. >> i guess the larger question i'm trying to get at over here is whether there's any -- the republican

senate confirmed president president obama's nominee to head the securities and exchange commission. >>> the number of democrats showing support for same-sex marriage continues to grow today. he was the latest to endorse it. he said his views has revolved. that leaves three to come out in support for gays and lesbians couples to marry. >>> jc penny's board of directors ousted its ceo. he was on the job for 16 mungs. they said it led to -- months. they said it led to massive sales drops. >>> wikileaks released 2 million secret u.s. government documents from the 1970s. they are about henry kissinger when he was secretary of state. no shocking revelations so far but the founder insisted that this latest leak is consistent with his mission. >> our analysis shows the u.s. administration cannot be trusted with its control of the past. >> the justice department is investigating him for the leak of thousands of secret documents. >>> arguments begin for an accused killer, and tickets to see the rolling stones are nowen sale, how much -- are now on sale and how much you will have to spend to s

the securities and exchange commission found earlier this month such announcements on facebook and twitter are okay. >> this morning, we have an update on google's driverless car. representatives from google, toyota, and texas instruments met on capitol hill yesterday to review the development of the vehicle saying a fully outguiltied -- outfitted car is five years ago. they can sense surroundings, and pedestrians and spot lights. it is difficult to sdi -- estimate what it would cost but right now the version that is out now would cost $150,000. >> recently discharged soldier has been reunited with his doc feared dead because of word of mouth and an overseas microchip. he went do work overseas in belgium and adopted the dog from japan and he got back to the states he was told that the dog was hit by a car. but it turns out the dog was more than 100 miles away in oregon. the shelter officials were able to link the microchip to his japan adoption and from there word of mouth got him back to his owner. >> like a child to me. like my son. i am very happy to see he is alive and well and he is n

firms who is trying to do this business cannot its mary shapiro, former head of the securities and exchange commission. how convenient. >> obviously there is a lot of back-and-forth. the revolving door goes round and round. mary schapiro said there is no revolving door. i'm not going back to government. maybe the big reason is because they do not pay as much. there has been a lot of people from the sec and other regulators going, and they do good work. it is very close with the government. we refer to them as shadow regulators. when you have this sort of relationship or with also the big accounting firms, of course price waterhouse coopers, also doing this work, there are only so many. you cannot newt them. there are very close to the regulators that they are supposed to be -- gerri: our viewers are looking at a full screen right here of what victims will get. 60 percent, as you said demoted $300. you know, 22 percent will get 1,000. it is just trying my source that this is the way the money will be used. at the center of this, some company consultants who you cannot separate them from government. the

companies can now use social ♪ gerri: the securities and exchange commission making a surprise announcementanies can now use social riel let's let facebook and twitter to announce the market-moving information. crazy. my next guest says it gives fronts as permission to try and move the markets. turning me now, host of money life. welcome back to the show. i got this e-mail. the press release from t sec this afternoon. i thought, this sounds nutty. let'sace it. every state -- statement that the company makes can affect the stock price. you have to make sure that everyone has access to it. it seems like a regular old fashion press releases the way to do it. what do you say? >> i would agree with you except for the fact that i believe that this was inevitable. what you already have right now is a company makes a release and then gets tweeted about and is in social media. the question becomes how you circumvent that and maybe make it that at these people are getting what they think is the real truth of what is happening here. gerri: you have this is like 33 or 130 words. adeline know what is th

why it's mary shapiro, former head of the securities and exchange commission. how convenient that it all worked out the weight. >> obviously there is a lot of back-and-forth. the revolving door goes around and around. maybe the reason it it does not pay as much. we did a big profile of the company that is at the center of this, and there has been a lot of people from regulators going. and they do good work, but it is very close with the government. you refer to them as michele regulators. when you have this sort of relationship with the big accounting firms, of course, price waterhouse coopers and also doing this work, there are only so many. there are very close to the regulators that they are supposed to be -- gerri: our viewers are looking at a full screen right here of that, what victims are going to get. >> not much. gerri: 60% as you said would be $300. now, 22 percent would get thousand. the fries my shorts. the center of this is some company consultants to the e cannot separate them from government. they're so close that they are government. they are fee

a new york federal court appeals as the securities and exchange commission cannot be held responsibleing to expose party made of spun scheme. this upholds a lower-court ruling rejecting a lawsuit brought on by madoff investors. the appellate court said the fcc's actions and regrettable and action were protected by a law that shields federal agencies from liability. reportedly looking to add an nba agent to his resonate. according to media outlets, jay-z has started the process of divesting its ownership. nba rules mandate individuals cannot be affiliated with a player representation company a fatal mistake with an nba team. we continue our "countdown to the closing bell" with liz claman. ♪ [laughter] liz: okay. we are ten points away from the highs of the session. 143 points. we can all do the math. 153 points to name every will break that, but we are already in record territory. stocks posting strong gains across the board. nicole petallides, you know, if you could see who is next to me, nicole, dying to get in on the conversation. listen to what she has to say about a pig farmer fir

the securities and exchange commission and commodities futures trading commission were notified of the lapse and the fed has asked its inspectors general office to launch an internal investigation. members of the congressional office and banking committee have confirmed getting that e-mail to cnbc. also, a spokesman for the joint economic committee, al fealousenberg told me a short time ago, yesterday we got a release from the federal reserve with a 2:00 p.m. wednesday embargo and we honored that embargo. that may explain why no alarm bells went off for at least one key capitol hill committee. and as we all know, premature disclosure of market-sensitive government data does happen from time to time. last august, you may recall the labor department accidentally posted those weekly jobs claims data a day early. maria? >> all right, hampton, thanks very much. let's get more reaction now with former federal reserve governor, randy kroszner, now at the university of chicago booth school of business. he join us live for an exclusive interview. sir, great to have you on the program. >> welcom

. >>> securities and exchange commission is giving companies the go ahead this morning to post financial data to twitter and facebook. scott mcgrew points out, they already were. >> yeah. in fact, lawyera one of those postings really raised this question about whether it should be legal. the answer is yes, so long as you warn your investors ahead of time. the case actually dates back to netflix, posting by reed hastings, to bragged on facebook that netflix had just reach a billion hours viewed. good financial news, but hastin hastings violate some sort of trading rule because he told facebook users before he told the rest of the world? hastings said that question was ridiculous because he has 200,000 follower on facebook, many are reporters and analysts and, therefore, it is just like telling the whole world. sec this morning agrees, though it says you should warn your investors you might tweet or post your business findings. >> bertha coombs is live at cnbc headquarters. good morning, bertha. >> good morning. i tweet stuff all the time, as do you, i know. futures are pointing to a highe

the securities and exchange commission says it doesn't have all the facts right now but it's to knowow something like this can happen. of course, that is little comfort for the individual investor who literally stands there and watch the value of his or her portfolio just evaporate within seconds. traders, automated computers. the trades in a tenth of a second. put together with algorithmic software. what happens when you get a false rumor like that tweet today all of a sudden we see stocks plunging. sec wants to know how this can happen. the traders say you have got to look at the computers. as for who is claiming responsibility for hacking into the a.p. twitter account. a group calling itself the syrian electronic army a group that supports president assad. they have done this many times before. claim responsibility for hacking other media outlets such as the bbc. "60 minutes" program and so on. none of that has been authenticated. certainly raises questions about the security efforts being made by twitter, been calls now for many years saying they need to do a better job preventin

senate confirmed mary jo white today, as chair of the securities and exchange commission. she's a former federal prosecutor in new york. and on wall street, stocks started the week on a high note. the dow jones industrial average gained 48 points to close at 14,613. the nasdaq rose 18 points to close at 3222. former mouseketeer and teen movie star annette funicello died today. she passed away at a hospital in bakersfield, california, of complications from multiple sclerosis. funicello first gained fame on tv's "mickey mouse club" in the late 1950's, and then, in several disney films. later, she teamed with frankie avalon in a series of "beach" movies in the early '60s. annette funicello was 70 years old. those are some of the day's major stories. now, back to gwen. >> ifill: we return to margaret thatcher and look back to our program's archive. when she sat down with the newshour's founders, robert macneil and jim lehrer, they got a taste of the steely resolve of the "iron lady" when they attempted to ask her repeatedly about the news of that day which happened to be el sal

the securities and exchange commission planned to look into the incident. stocks quickly recovered, and the dow jones industrial average gained 152 points to close above 14,719. the nasdaq rose more than 35 points to close at 3269. those are some of the day's major stories. now, back to gwen. >> ifill: and we come back to the boston story. last week's bombings sparked new interest in beefing up security at large public gatherings from street fairs to sports competitions. jeffrey brown looks into that. >> brown: the question after the events of last week: how safe can we ever be? especially in major cities. thousands of people gathered in public buildings or for big events. it's a question that was posed after the 1995 oklahoma city bombing that killed 168. and a year later, after a pipe bomb exploded in atlanta's centennial olympic park during the summer games, killing one and injuring 111. 9/11, of course, brought a ratcheting up of security measures including among much else, the creation of the department of homeland security and the t.s.a. and surveillan

number four, senate confirming mary jo white the head of the securities and exchange commission the agencyhat oversees wall street. united airlines scheduling a flight on dream liner next month even though the feds haven't yet cleared the planes for flight. funeral for british prime minister margaret thatcher died today at 87. remains of 25-year-old diplomat returning to the u.s. she was killed in afghanistan as she delivered school books to children. that's "the fox report's" top five. and on this day in 1986, clinton eastwood won an election. the actor ran for mayor of the small seaside town of caramel, california where he lived for 14 years. he entered the race after government red tape kept him from building a restaurant downtown. clint eastwood vowed to relax business regulations. spent more than 10 files in campaign cash -- i should say spent 10 times more than his incumbent in campaign cash and won with 72% of the vote. he held the post for two years making small business growth a priority of the administration. eastwood supportive environmental issues led to the state parks and rec

the powerful securities and exchange commission this morning has decided it is okay for companies tont financial information on social networks. this case dates back to a facebook posting by reed hastings, netflix ceo who bragged netflix had just reached a billion hours viewed. good financial news, but did hastings violate some kind of insider trading rule because he told facebook users before the rest of the world? he says that question was ridiculous because he has 200,000 followers on facebook, many of them reporters and analysts and, therefore, that is like telling the whole world. the sec this morning agrees. >>> finally, cisco systems has announced it's buying a european company, which helps patch together all your cell phone connections, wi-fi, 3g and 4g. here is the name of it. >> what? >> ubiquisys. >> looks like somebody's scrabble. >> it's a million points on scrabble. you're exactly right. ubiquisys. >> that was my first -- >> magic ring to it. >> known from here on out as cisco. >> i'll play scrabble with you any time. >> scott, thanks a lot. >>> if you happen to be in t

securities and exchange commission mary shapiro is joining a consulting firm which advises you guessed it financial firms. the mission of the s.e.c. and i quote is to protect investors and maintain fair, orderly, and efficient markets. shapiro took the helm at the embattled s.e.c. in june of 2009 and while many praise her for restoring the all but nonexistent of that agency at that time, she's also been criticized for never fully holding wall street accountable for the worst misdeeds that caused the financial crisis. her announcement comes days after we learned that the assistant attorney general in charge of the criminal division of the justice department has left the justice department and rejoined the law firm of camington and burling as vice chaim representing a big list of bank clients tied to the financial crisis. he was criticized for not pursuing prosecution against big bank malfeasance while at the justice department. neither responded to our requests for comment. >>> it was hailed as an 'em ik turn-around. atlanta schools went from bad to good in a matter of years. now teache