in a few moments the senate banking committee continues its investigation into the mf global bankruptcy. in less than two hours, a hearing on the new leadership in north korea. >> i seemed to have earned ape certain place where people will listen to me. and i have always cared about the country. and the greatest generation, writing that book, gave me a kind of a platform that was completely unanticipated. so i thought. i ought not to squander that. so i ought to step up. not just as a citizen, journalist, father, husband, grandfather. if i see these things, i ought to write about them. write this dialogue i am trying to do with this book where we need to get to next. >> in his latest, the time of our lives. tom brokaw, urges americans to redefine the american dream. sunday, may 6th. your questions for former anchor and managing editor of "nbc nightly news" in his half dozen books he has written about the greatest generation, 1960s and today. indepth. sunday may 6. live at noon eastern on c span 2's book tv. >> up next, the senate banking committee continues its investigation into the mf

these members and i mean it just an example that second to me you have the chair of the senate banking committee who brought on as his staff director a former lobbyist for the american bankers association j.p. morgan and freddie mac. so what is the influence of these staffers well i think this hampers when they come off the hill or actually more affected the members i would actually try never to hire members because they were kind of lazy and they were sort of self-important and felt entitle stampers were real raisers and killers they could get things done they knew exactly where the trains were flying to and book how to put things on them and unfortunately you members are generally a little less active let's just say so i would only go with staffers but the other side of the revolving door going from industry back to capitol hill or into the administration personally frankly i think it's fine if you want to see several things one they don't have any big pat parting package financial package will see them get a several million dollars as a little gift on the way out there they don't have that a

show but just to give our audience a few you have phil gramm who was the chairman of the senate banking committee he was an outspoken champion of deregulation ok he played a role and pushing and writing the repeal of glass steagall also inserted a provision into the commodities futures modernization act that exempted over the counter derivatives problem regulation we all know who that how that wound up he went on to join u.b.s. the vice chairman another example would be peter or is that he left office of management budget to work as a vice chairman for citigroup robert rubin former treasury secretary joined citi group he was chairman of the executive committee as the group's board of course before he was treasury secretary he was a top trader and in fact i called him and sachs so before you say you don't really disagree with this is this ok well i mean it depends what they do if they're coming out in there with their expertise by the way is phil gramm i think does he was going to come to professor maybe ruben as well because they have expertise in financial markets and they're working in areas th

the senate judiciary committee committee holds a hearing on immigration laws. on c-span a hearing on the collapse of mf global. the senate banking committee is chaired by senator tim johnson and the ranking member is senator richard shelby. michael carvin was an attorney who recently argued against the constitutionality of the health care law before the supreme court. representing the national federation of independent businesses. on friday he spoke to the national republican lawyers association. we'll show you as much of this as we can until our live coverage at 10:00 eastern. >> i hope everyone enjoyed the breakout sessions. we're going to go ahead and get started with our final speaker of the day before our reception and open bar. we're very happy to have mike carvin who focusses on constitutional appellate and civil rights and civil litigation against the federal government. he's argued numerous cases in the united states sport and vrtually every appeals court obtaining the justice department from obtaining monetary relief from the tobacco company under rico limiting the justice department's ability to create majority/minori

. >>> the senate banking committee held its sixth congressional hearing this week on the mf global collapse last october. former new jersey governor john corzine was then ceo of the company. he resigned the following november. the committee focused on finding ways to avoid a repeat of financial abuses and enhance regulation. commodity futures trading commission commissioner jill summers testified. it's about two hours. >> i will call this hearing to order. today's hearing will examine the lessons learned from the collapse of the mf global, the misuse of customer accounts by one of the world's largest commodities and derivatives brokers has shaken confidence in our markets and deserves a thoughtful discussion of how to better protect farmers, ranchers and investors going forward. but before we get to these important issues i would look to express my deep concern that almost six months after mf global's bankruptcy, thousands of former customers, including hundreds of south dakotans, still have not recovered the $1.6 billion removed from what should have been protected customer accounts. i kno

. >> to learn more about the senate banking committee and who serves on it, consider the 2012 congressional directory, a complete guide to the 112th congress with committee assi assignments in the house and senate, lists of subcommittees and more. pick up a copy for $12.95 online at cspan.org/shop. the supreme court heard oral argue amount on arizona's immigration law on wednesday. the two main lawyers in the health care law, solicitor general donald varilli and attorney paul clement argued the case arguing whether arizona has the authority to enforce its regulation law or not. you can watch the hearings tonight on c-span. reporter christopher matthews discussed the foreign corrupt practices act on "washington journal" today. the act bars american companies from bribing officials overseas to obtain business. the law was invoked after investigation into bribery by walmart and its business dealings in mexico in 2005. the discussion is about half an hour. >> and meet christopher matthews. chris matthews is a reporter at "dow jones news wire." we asked him to take us behind the headlines to tel

in a little less than an hour, the senate banking committee continues its investigation into the mf global bankruptcy. after that a hearing on the new leadership in north korea. >> rosie o'donnell was the president's first choice to be here this evening. and she withdrew, citing a nasty and brutal confirmation process. i wasn't even the second choice. dennis miller was the second choice. but he got hung out by an illegal nanny technicality. but isn't that what the confirmation process is all about here in washington? weeding out the truly qualified to get to the truly available. >> and i must say, mr. president, i thought that, you know, when you got into office that you would put a swift end to your basketball pickup plan. you know, pickup basketball plan. i mean, come on. first black president playing basketball? that's one step forward, two steps back. and really, are you any good? i bet you think your game is really nice right now, don't you? yeah. you really think you've got good moves, huh? i mean, come on, nobody's going to give the president a hard foul with the secret service stan

and before that, esserved for six years on the senate banking committee working for senator richard shelby is, republican senator from alabama. to my far left, i must have thought about the seating arrangement. diane thompson has represented low income homeowners since 1994, an attorney, she served on the federal reserve boards consumer advisory council, also served on the board of directors of ncrc and currently of counsel to the national consumer law center. marc morial to my right, but misseated i guess if we're being consistent. former mayor of baltimore and now the president. >> new orleans. >> new orleans, sorry, my mistake. >> like the baltimore of louisiana or something. >> let me just say, get used to it. it's not going to be the only one. new orleans, sorry marc. and but more importantly, for us, he's the president, ceo of the national urban league and under his guidance it's become one of the country's most respected effective, and influential national organizations. so thank you, marc, for joining us. now please help me in welcoming all of them. [ applause ] >> so ncrc is askin

hearings on capitol hill and there will be another one next week planned on tuesday by the senate banking committee remember these have really been the fertile ground for some eyeopening statements made by m.f. global execs take a look. i was not aware of the transfer before it was made so i would know that i was away but the majority of that week and i apologize in advance if i'm unable to. pull civil responsibility was of the global finance function i was not responsible for but as you could see it was quite a lumina so tell us what we should your next be is someone who has been following this all very closely since the start is mark malema host of uncorrelated investing show and author of high performance manager is a veteran of the futures industry was shocked when this all went down and since then i think he's only become more shocked i would imagine it everything that you've uncovered first mr malema welcome back to capital count it's nice to see you . likewise on now let's go to this hearing because there is one coming up next week and last time we had the legal counsel of the sea oppose the

after that, the senate banking committee continues its investigation into the mf global bankruptcy. and later, a hearing on the new leadership in north korea. >>> one of the things that i always remember because my office overlooked the building in the plaza was the plaza -- there was a day care center in the plaza. of course, some of the children were killed. others injured. but during their recess period, they would always come play out here in the plaza, and you would hear their voices. and so that left a lasting impression, of course, when they were silenced. my son, a dear friend of his in high school, she had just graduated and was working in the social security office and her father was a good friend of mine. but i got home actually that morning, i had three different messages. first of all wanting to know what he could find out about his daughter. secondly, that it didn't look good and a third message was when he was crying. watch our local content vehicles next stop, exploring the history and literary culture of oklahoma city. with special airings the weekend of may 5th and

i will say at or the senate banking committee under chairman tdd is our chief and forr bl tes e bl inre dy inoinva bix the taxpayer and it would show the world that you would have an industry, and in particular, a very small concentrated part of that industry that can literally take it all down. we need strong regulations. it's not a liberal or kesh active thing. we need to protect thela th lof ohe ol, thg se iea reang tiit fedis t fact o the matter, and we appreciate your efforts to republicing of. the ability to actually. you know. herehowene's neweemehen ack tallest building and how we got it. [ ale announcer ] is is coacrker. st witback pain.whose noopy and a choice take advil now and m. or chooseleve and two pills for a day fr of pain. way to go, coach. ♪ and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep going. nn er huden thelma deor ts s. when i decided to find a way to keep going. nn er huden thurt. thelma deor ts s. when i decided to find a way let ing youy.p going. o u.s. pic am like, keep onef these over your he

go there find the full written testimony and the video if you want to watch it is at the senate banking committee web sites you can find it there but just to summarize where i said we are witnessing the greatest theft in the history of the world four hundred billion dollars per year is being taken from the pockets of savers and handed over to the banks through the fed's zero interest rate policy everyone likes low rates because you know mortgage rates are low when they use the stock market but what about people who actually save and try to do the right thing put their money in the bank they're getting zero you know sort of a more normalized interest rate of even one or two percent as to that money has been stolen from them hands over the backs and forms of the four zero cost of funds so as they say that this is ten times worse than made often the treasury is behind it all right that was very distinct and people can get the detail. on your website but rather time jam records thanks so much being on the kaiser report thank you max all right that's going to do it for this edition of the kaiser repor

i will say at or the senate banking committee under chairman dodd is our chief and for the public interestng out of those places. we don't just look at whether it's a liberal or conservative policy, or pro bank or anti-bank. what we do is focus on the public interest. the public interest, it's hard to deny -- is not in vag bix to the taxpayer and it would show the world that you would have an industry, and in particular, a very small concentrated part of that industry that can literally take it all down. we need strong regulations. it's not a liberal or kesh active thing. we need to protect the country and treasury and a >> i have -- yes. after a few years of saying that one way or the other, dennis, and all the rest, i mean, along with a lot of other folks, if nothing else, it bears repeating until it's fixed, is the fact of the matter, and we appreciate your efforts to republicing of. the ability to actually. you know. dennis runs the place. which you can it out obviously. >> it was. we'll see some when we come back here, however, new york's new es [ male announcer ] this is coach parker

in fact, sec chairman mary schapiro voiced her concerns in a letter to the senate banking committee ande, i am concerned that we lack a clear understanding of the impact the legislation will have on investor protection. the bill should cause real and significant damage. labor unions are also worried afl-cio president richard trumka said in a statement, the bill will do nothing to create good jobs and stabilize the u.s. economy. instead it will deregulate wall street, voiding investor relieses put in place after enranda the 2008 financial crisis. now, joining me now to talk about the jobs act and jocks themselves is austin gould'sby an advisor and professor of economics at the university of chicago's booth school of business, joining us from chicago. awrch, welcome into the war room. >> great to see you again. >> yeah, it's great to see you too. let me start with the thing everybody is most concerned about with the jobs overall and, of course, jobs numbers are coming out tomorrow. do you have a prediction? >> yeah, i think people have got an little too optimistic. we've had three or four

there is a hearing this morning before the senate banking committee on the an f global bankruptcy investigation. a couple of committees taking a look at the mf global bankruptcy. and looking at the impact of all immigration laws done by states ahead of the supreme court taking up the oral arguments on the arizona supreme court case. coverage on c-span3 of that hearing at 10:00 a.m. eastern time. and the phone hacking scandal with the murdoch's, set to testify before a judicial panel. that is the headline this morning in the paper. live coverage on c-span2 today. look for -- go to our website, c-span.org, for more details. here is the headline in "the new york times," "murdochs set to testify." "there have been few episodes more challenging for rupert murdoch and his sun, james -- and his son, james. we will have coverage of that. also on booktv. a new book is out by rodney king, recounting his life in the days and years following the court case of -- after his beating. he calls the riots recovers the riots following his acquittal, alcohol addiction. he is speaking in harlem, new york city. agai

senator johnson is the chairman of the senate banking committee and senator richard shelby is the ranking member. live coverage starts at 10:00 a.m. eastern. james murdoch, the former chairman of news international and his father, rupert murdoch, will testify regarding the practices of the british media. coverage begins tomorrow morning with james murdoch. rupert murdoch will testify at wednesday and thursday mornings. >> one of the things i always remember because my office overlooked the building in the plaza, there was a day care center in the plaza. some of the children were killed. during recess, there would always come play out here in the plot and you would hear their voices. that will -- that left a lasting impression when they were silenced. my friend, his friend was in high school and she had just graduated. her father was a good friend of mine. when i got home that morning, i had three different messages. first of all, wanting to know what he could find out about his father. it did not look good. the third message was when he was crying. >> watch our local content of vehicles e

as a matter of senatorial courtesy, we'll turn to senator shelby who has a banking committee that he must join. i'll pick up followed by senator hutchison. we will recognize then members in order of arrival and follow the five-minute rule. senator shelby? >> thank you, madam chairman. good morning, mr. attorney general. >> good morning. >> two key department of justice facilities will soon be operating on red stone arsenal, the fbi's terrorist explosive device analytical center or tedac, and the a ncetar's national center known as ncetar, these two national assets will help law enforcement officials deal with the growing threat posed by terrorists in criminal use of powerful explosives. you and i have discussed these facilities previously. i believe you agreed then with me that the missions of ncetar and tedac are distinct but complimentary and that it made sense to co-locate them at red stone where there's a lot of property, a lot of land. for the benefit of the committee, mr. attorney general, can you describe how the department. of justice will utilize ncetar and tedac. >> -- run c

trustee mentions that in the senate banking committee and it's something we're working on. >> for months to have a break, obviously continue this conversation throughout the hour. meantime continue our disruptor series with biggest technology innovators. up next, video service that attracted investments from music mowing up jay-z and pop star shakira, ceo of viddy will join us next. next half hour founder of second market and buzz feed joining us. squawk returns after the break. >> announcer: but first the future of business. >> cravability is something that people are using more and more. there's a trend towards healthy, fast, casual. also interactive young people love to see things being made in front of them. the chipotle model that skyrocketed. there's a bit of uncertainty for many and that's not knowing where regulations are coming in. government is placed over the past couple of years many different regulations on the restaurant industry. trending into the future is going to be some slow growth but i think we will have growth. i'm positive about our future but then i'm just an opti

and before that time he served six years on the senate banking committee working for republican senatorand alabama. to my fire last. i almost forgot about this seating arrangement. at foster has represented a low income homeowners since 1994. as an attorney serving the federal reserve board and consumer advisory council, also on the board after yours have been crc and is currently counsel to the national law. mark morial to my right, former mayor of baltimore [inaudible] >> baltimore louisiana. [laughter] dorland's, sorry. but more importantly, for a he's the president and ceo of the national urban league and under his guidance has become one of the countries most respected, affect and influential national organizations. so thank you for joining us. now please help me in welcoming. [applause] so ncrc is asking the question of whether our country has a commitment to building an inclusive society in which all people who are willing to work hard, play by the rules gender, race, age or physical challenge that we have the opportunity and for their families. the pressing problems of massive d

. >>> the senate banking, housing and urban affairs committee recently held a hearing on the mf global collapse, the sixth such hearing in recent weeks. this one focused on the lessons learned and the policy implications. cftc commissioner jill summers testified along with other regulators and the bankruptcy trustee. mf global filed for bankruptcy on october 31st. it's the eighth largest u.s. bankruptcy. this is just under two hours. >>> we'll examine the lessoned learns of the collapse of mf global. the misuse of customer accounts by one of the world's largest derivatives brokers as shaken confidence in our markets and deserves a thoughtful discussion of how to better protect farmers, ranchers, and investors going forward. but before we get to these important issues, i would like to express my deep concern that almost six months after mf global's bankruptcy thousands of former customers still have not recovered the $1.6 billion removed from what should have been protected customer accounts. i know that the trustees as well as the fbi and justice department continued to investigate wha

. >> on tuesday, the senate banking and housing committee held a committee regarding the mf global collapse. this hearing focused on the lessons learned. mf global filed for bankruptcy on october 31. this is an hour and 50 minutes. it deserves a thoughtful discussion of how to better protect farmers and investors going forth. but before we get to these important issues, i would like to express my deep concern that almost six months after mf global's bankruptcy, thousands of a former customers, including thousands, still have not recovered the $1.6 billion removed from what should have been protected customer accounts. i know that the trustees, regulators, as well as the fbi and justice department continue to investigate what happened in the final chaotic days of mf global. but in these customer funds must be returned without further delay to the rightful owners. these individuals and executives responsible must be held accountable to the full extant of the law. lastly, it is not acceptable for mf global executives to be given bonuses when customers have not recovered funds improperly taken

before that, he served for six years on the senate banking committee working for senator shelby, republicanator from alabama. to my far left, has represented low income home owners since 1994. she served on the federal reserve board consumer finance council and the board of directors of the ncrc, and is currently counsel to the law center. marc morial to my right. for mayor of baltimore -- new orleans. >> get used to it. it will not be the only one. more importantly, for us, the present ceo of the national urban league. under his guidance, they have become one of the most respected national organizations. thanks for joining us. please join me in welcoming all of them. [applause] ncrc is asking the question of whether our country has an ensuing commitment to build an inclusive society which all people who are willing to work hard, play by the rules, regardless of gender, race, age, or physical challenges, that we have the opportunity to build a safe and comfortable future for themselves and their family. the pressing problems of massive debt, high unemployment, and anemic economic growth hav

. >>> the senate banking committee last week held a hearing on the bankruptcy of the financial firm mf global. in the days before mf global collapsed, $1.2 billion of customers' money disappeared. trustees overseeing the bankruptcy and federal regulators testified. senator richard shelby chaired the almost two-hour-long hearing. >> i'll call this hearing to order. today's hearing will examine the lessons learned from the collapse of the mf global, the misuse of customer accounts by one of the world's largest commodities and derivatives brokers has shaken confidence in our markets and deserves a thoughtful discussion of how to better protect farmers, ranchers and investors going forward. but before we get to these important issues, i would like to express my deep concern that almost six months after mf global's bankruptcy thousands of former customers, including hundreds of south dakotans still have not recovered the $1.6 billion removed from what should have been protected customer accounts. i know that the trustees, regulators as well as the fbi and justice department continue to inve

housing and urban development, mark calabria is a former republican staff member for the senate committee on bankingnd urban affairs. he's now at the cato institute. and gentlemen, it's good to have you both with us. >> thank you. >> woodruff: mark calabria, let me start with you. did the programs that were instituted by the government under both president obama and president obama... president bush, did they address the problem? how much and how it will >> well, i'd say this is non-partisan because i do think the obama administration largely continued the same thing of the bush administration which to my extent was to put off the problem, to kick the can down the road in a lot of ways. i look at the fundamental issue of our housing market is a combination of weak demand and excess supply. so some of these things were aimed at keeping foreclosures off the market which would lower supply but ultimately they drove out the problem. you know, i'm of the opinion that if we had taken the 30% decline in six months rather than four years we'd be in a much healthier spot today. so ultimately market fundament

senator tim johnson is the chairman of the banking committee and senator richard shelby is the rankingrts at 10:00 a.m. eastern. this week, james murdoch, former chairman of news international, and his father, rupert murdoch, will testify under an investigation of the british media. coverage begins tomorrow morning with james murdoch. rupert murdoch will testify wednesday and thursday mornings. >> next, a conversation on foreign war and conflict reporting. we will hear from reporters, photographers, and new york times executive editor jill abramson. this one hour and 10 minute event is hosted by the american society of news editors. >> hi, everybody. i want to thank reuters for the foreign correspondents that have died in the past year. loren could not be here today. she had a sudden illness and her family and we wish them well. susan bennet, our moderator for lives on the lines, started her recording career with upi in memphis, where sikh -- she covered the death of elvis. as a reporter, she traveled 50 countries covering arms control, the collapse of communism, the persian gulf war,

headline in the paper, so they were feeling a little better about new york city, but the banking committee and the senate was following the situation very closely. the banking committee and the beginning of 78 said we are not plan to give them any more help. in the course of the next few months, the case was laid because the senate and the hearings are quite surging. if you read those hearings you would say these people knew what they were looking for and looking at. the governor that you carry, the mayor, the new mayor came, moynihan and chaffetz will be hard, richard lugar who just come to the senate stepped forward and came up with a plan. richard lugar who was still in the senate but was a very good example i think of one of the product of mental's democratized senate but he was a new senator but he had been a great mayor and if he was willing to step up and play an important role, the senate welcomed that. >> host: we remember in vermont george regan of course who was one of the telling figures of period as well or moderate republican, and what we remember and i remember interviewing him many years

on the ag committee and on the banking committee, i look forward to working with members of the ag committee to try to convince our colleagu colleagues. >> thank you, senator. >> once again, we look forward to working with you. i know this is an issue very important to kansas. so we look forward to working with you. >> thank you. ill just echo na as well. it is banking committee jurisdiction. they asked us not to ard this here. we certainly have the opportunity to do that on the floor. and appreciate your leadership. are there other amendments for this title? >> i'd like to bring up bozeman one. please. thank you madam chair and i'll be really brief. i offer this in a sense of frustration. we want all our food to be nutritional and accessible for all americans specially low and moderate income families. as we per sue these goals as i'm out and about is all i hear about is the heavy handed regulations that really have a negative impact on the variety, quality, availability and affordability of food for the american family. again, the kpoeszive regulations. this would allow the secretary to determine if the regulation would have negative impact to affordable

senator richard shelby chairs the banking committee. a hearing gets underway at 10:00 a.m.e coverage on c-span. >> charles colson died this past weekend. he talked about the white house taping system in 2007. >> kissinger had the right, although he abused it, to come into the oval office without having somebody an ounce it. -- without having somebody an ounce at. nixon said to feel free to come in and interrupt anything. hen rate would do with it for material things, and one day nixon was ticked off at henry for a variety of things, and i was in the executive office building. it was henry. i caught a glance. nixon did not appear to look, but i knew he knew it was henry. he said, i think it is time to use nuclear weapons. everything else has failed. kissinger stood in the doorway, absolutely paralyzed. he said, somebody is going to hear this on tape and say nixon is a madman. it was pure schumer. nixon loved it. >> hear more about his car rear and his later work in prison reform online at the c-span video library, with a quarter- century of politics and political affairs ava

banks don't vote on this bill? >> in a manner of speaking they do with campaign contributions and threatening legislators like me that stand up. >> it may be soon. the first senate committee meeting is wednesday after the last state senators he has a message. >> i have to remind them, the ones that vote are the people like myself. >> california bankers association will be lobbying lawmakers. they do support three of the six bills with amendments, they completely oppose this bill and another which, among other things, would put an end to robotic signing and an end to the dual track process that was it was talking about there. and would create a single point of contact for those going through foreclosures. they cite concerns about the economy and the housing market. on consumer watch, julie what cbs 5. >> designed for teenagers by teenagers, the new state of the art haven going up and 1 bay area neighborhood. >> here in the weather center i am tracking the days that will toughen the '80s. that is right. days in the '80s. we will pinpoint those days, but there's a lot gone on in sports. we have it all. >> the sharks and the blues are ready to drop the puck for game 3. we wil

here on the senate side, we have made important bipartisan progress. on the banking committee, which is the committee of jurisdiction, we have worked hard to put together a full five-year reauthorization bill with reforms on a bipartisan process. as ranking member of the relevant subcommittee, i have put a lot of work into this with many others, including my subcommittee chairman, jon tester, and we reported that bill through the entire committee. it got a strong report out of committee and is ready for action on the senate floor. so now, madam president, we need to take that next step. we need to get it on the senate floor, pass it through here and reconcile it with the house bill. there are no major substantive obstacles. this is a true bipartisan effort. we have worked well together and through a number of issues. really, the only issue is getting time on the senate floor and moving this forward so that we can do this full-scale five-year reauthorization before the program expires this may 31. so again, madam president, i just come to urge all of us and in particular the ma

bank. >> you can see this entire video at studentcam.org. continue the conversation on facebook and twitter. >> up next, a conversation with house majority leader erich can cantor. then a senate committee meeting on the 2013 budget. >> john has an update of afghanistan security efforts. you also talk about the military operations taking place in two southwestern afghan promises. live coverage hosted by the atlantic council begins tomorrow at 10:15 a.m. eastern. >> there is room for positive government policy. they drive development of private sector. it really feels it. we have some vision of where we are going, some encouragement. if ever we needed that, there's an opportunity trading this. >> former member of the education commission on legislation to reform the sec. >> political's playbook breakfast series posted eric cantor on thursday. he discussed a number of topics including tax reform and the 2012 presidential election. mike allen moderated the conversation. this is one hour and 27 minutes. thank you for coming. i am mike allen, the chief political correspondent for "politico." hello to c-span and cnn. thanks for following this. we are on twitter. jake sherman will join me in a

bank of america, morgan stanley, verizon and dupont. up next earnings central for a look at what you can expect. in the next half hour senate budget committeep today on a long term budget. committee chairman kent conrad will joins. he's planning to use simpson-bowles as a blueprint. "squawk" will be right back. auto-bliss. with rent2buy from hertz car sales, you skip the lots... and pushy sales people... it's a fast, easy way to buy a used car. three days to try. zero pressure to buy. it's just another way you'll be traveling at the speed of hertz. what ? customers didn't like it. so why do banks do it ? hello ? hello ?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello ? ally bank. no nonsense. just people sense. ♪ ♪ ♪ [ male announcer ] not everything powerful has to guzzle fuel. the 2012 e-class bluetec from mercedes-benz. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >>> welcome back to "squawk" on this wednesday morning. futures looking down. looks like it would open up down by 52 points. and we got a little bit of news. google ceo larry page wil

. >> up next, the senate banking committee continues its investigation into the mf global bankruptcy. the eighth largest bankruptcy in u.s. history. witnesses include head of the commodity futures trading commission, and other regulators. this is a lit less than two hours. >> i will call this hearing to order. today's hearing will examine the lessons learned from the collapse of the mmf global, the misuse of customer accounts, by one of the world's largest commodities and derivatives brokers has shaken confidence in our markets and deserves a thoughtful discussion of how to better protect farmers, ranchers and investors going forward. but before we get to these important issues i would look to express my deep concern that almost 6 months after mf globals bankruptcy, thousand of former customers including hundreds of south dakotans still have not recovered the $1.6 billion removed from what should hatch been protected customer accounts. i know that the trustees, regulators, as well as the fbi and justice department continue to investigate what happened in the final chaotic days of mf g