mary shapiro, chairman of the securities and exchange commission.oins me now for a rare interview. mrs. chairman, it's great to have you on the program. thanks for joining us. >> thank you, a pleasure to be here. >> i want to start with a piece you contributed to for "the wall street journal" this week after lehman brothers collapsed in wait, the $62 billion money market fund, the reserve fund collapsed along with it. you recently fought for new rules to regulate that $2.5 trillion money market industry, but didn't have enough support from other s.e.c. commissioners. tell us about this. in your editorial you said "all who care about financial stability must act to prevent another run on money market funds." how critical is this fear? >> oh, i think it's very critical. when the reserve primary fund broke the buck four years ago this week, the american taxpayer had to step in and backstop the multi-trillion dollar money market fund industry. four years ago, that froze the short-term credit markets, run spread to other money market funds. as i said, th

adam shapiro with the latest on this. adam, what has he said?> this is the first public discussion about how the stock essentially tanked since the ipo. performance of the stock has been disappointing. he says that the drop in value has not helped staff morale. he goes on to thing, this is quote. good time for people to join and good time for people to stay and double down. that in reaction to some people who are very important for facebook left for other companies and other paths in life. he also said because there was this big issue regarding this performance with mobile platforms he says one of the main misunderstandings right now about facebook is how quote, fundamentally good mobile is for the company. he is still speaking right now. they made a big mistake betting too much on htlml-5. first publicly talking about the taking of their stock. melissa: adam shapiro, all over breaking news. you're the king. >> you got it. melissa: unemployment rate is dismal, 8.1%. there are thousands, maybe that hundreds of thousands of jobs here in the countr

year fixed fell to 3.40%, the 15 dropped to 2.73% time now to take a look at the markets, and matt shapiro, president of mws capital, joins us for a closer look. matt, how much do you think the markets will key off earnings from nike and research in motion today? > > well, we've got the end of the quarter, a little bit of window dressing, and people are snapping up rim, because it didn't lose as much as people think, and when you look at the numbers, they have a lot of cash - just about a $4-billion company - and although their products have been a disaster, it's sort of like a slice-and- dice - what's it worth with their installed base, angie? > > matt, you're a big money manager, so you too have to do some window dressing. what stocks are you buying or maybe even selling? > > you know, the last few days we had a little bit of a soft market. the market had fallen, what angie?, like six out of seven days. finally it snapped back yesterday. i'm looking at a couple names i really like. one thing i talked about on the show was national oilwell varco, which, two days ago, fell below $80, which

let's talk now with matt shapiro of mws capital. matt, a lot of retail investors look at this market and they think, "it's so expensive right now, i'm not going anywhere near it." are there plays though they might consider? > > you've got to look harder, and you're right. many people feel the market is a little overbought. where do you get in? if the market's stops going down and actually goes up, you're going to have to buy anything you can kind of find and make some cents on weakness. the only thing we have going down right now is the price of crude oil. that's dropped, somehow, mysteriously, from $100 down to about $90 a barrel, and that's triggered other sales in commodity-related asset classes. > > that's at a six-week low. so, i feel that a lot of people aren't really sure why it dropped so much this week. > > exactly. it was initially triggered, people think, by a trader who had a large outstanding position in expiring options contracts. when oil was $100, he had to sell a lot of them, and in today's electronic market, that t

our chart talk-meister today is matt shapiro. he runs his own company, mws capital. matt, let's talk about general motors. an interesting value play. it's trading in the low $20s. a lot of people in gm would love to see the government sell its shares, get out. but, it's not yet at a cash level where the government wants to sell. > > right. they don't want to take the loss. and the gm executives, the reports that came out yesterday, of course are chafing at the government. the major wall street banks, the first thing they did was try to get the government off the books, and gm executives - it's a great business move - want to do the same. but the stock just hasn't responded, and actually value plays - let's talk about gm and ford - together are only about 10% of the market capitalization of apple. so there's a lot of room for these stocks to rise. we have a market that seems to be just going up, calming down. these are two stocks, especially gm, that really haven't responded. investors just don't want to pay for their earnings. gm's forward p/e, bill, is just 6. > > t

shapiro: the purpose of the smurrf is to treat dry weather runoff, which is coming from storm drains. dry-weather runoff occurs when people waste water through washing their cars in the street, hosing down sidewalks and parking lots, their irrigation systems overspray. narrator: in a city of 12 million people, those seemingly small bits of wasted water accumulate to enormous amounts. shapiro: so all that ends up in our streets, ends up in catch basins, storm drains, into our storm drain system, and for some of the city, parts of the city, it ends up here at smurrf. 350,000 gallons come here on a daily basis, producing recycled water, and that can be reused for landscape irrigation and indoor toilet flushing. the pumps can only handle so much water, which is generally when it's not rain, the dry-weather runoff, so if you get a storm of a decent size, the pumps will shut down automatically and the water will just continue to flow out into the ocean and it carries a lot of bacteria and people can get sick when they're swimming in the water near a flowing storm drain. everyone knows you d

liz: oh, yes, yes. >> mary shapiro is not a reagan republican.worked under his sec and bush's too. >> she was appointed by president obama. that means a lot. who appoints the head of the department of justice? i'm telling you all these guys get appointed by obama. why would they want to charge his big wall street fund-raiser? it's not that far out there. i mean, you know, i'm not saying that mary shapiro is the worst person in the world but she would be essentially kicking her boss in the you know what, you know, two months before the election. kind of not the smart thing you want to do, generally. liz: charlie gasparino, thank you very much. closing bell ringing in 29 minutes. so we were asking this, what large u.s. city, 1 million plus in population has the lowest unemployment rate? really low? half of what we're seeing here in the u.s.? you've got a guess? >> dallas? liz: no, but other people guessed that. >> i love dallas, austin texas? liz: twitter us -- tweet us @ fbn countdown. other top cities, minneapolis, st. paul -- i think austin was

adam shapiro. dagen: a guest coming up has been named by forbes as its most influential athlete for two years running. oh by the way, he won five nascar championships in a row. mcshane, get fired up. connell: i am. dagen: jimmie johnson is here. connell: this will be great. dagen: i just hit you. connell: you did but that's what you do. then we will also talk about mitt romney's tax returns. we are covering all the bases today. but first let's take a look at some winners on the s&p 500. >> announcer: meet tom, a proud dad whose online friends all "like" the photos he's posting. oscar likes tom's photos, but he loves the access to tom's personal information. oscar's an identity thief who used tom's personal info to buy new teeth and a new car, and stuck tom with the $57,000 bill. [tires squeal] now meet carl who works from the coffee shop and uses the free wi-fi. marie works from there too. she's an identity thief who used a small device to grab his wi-fi signal, then stole enough personal informati

shapiro >>> + about the shooting on 60 came about a 20 in the morning. how >>> i'd like to report hostile a shot fired on the freeway. officers possibly done. shall the officers a fellow officer young strum who shot the suspect with the if for help and then returned to youngster inside until paramedics alive. both northbound and southbound lanes were completely shut down for up the morning. the stuff of lanes and not start opening up until 5:00. drivers were reported to highway 24 while investigators runcie. >>> this morning police and widow he hopes of the news conference and called in the shooting three days ago. 23 year-old suspect was shot and killed after he brandished a replica file arm in the early hours of sunday morning. the list he refused to obey orders to put his hands up. to this media briefing happens at 11. >>> san jose firefighter has emerged from it, it is speaking with friends and family for the first time since up suffering a heart attack on the job. he laughs last week while battling a church father in downtown. upon waking up one and

adam shapiro is in the newsroom with the very latest. of people were surprised with an actual apology. >> this is a company, apple always prided itself on customer service and always doing what is easiest and simplest for customers. not so much out of line to have the company said, we are doing what we can on behalf of you even though this application really is no good. we will make it better command here is what he said that everyone going, this is really interesting. he talked about why they first did it. we wanted to provide our customers with better maps, including features such as turn by turn directions, voice integration, flyover and vector based maps. in order to do this via to create a new version from the ground up. did not get too far off the ground. people have been complaining. they took google maps of the iphone. iphone thought to my ls six operating system. if you download it onto your ipad, no more youtube, no more googol anything. they are really angry with each other. so their apple iphone at -- apple ipad. and in the l

fox business's adam shapiro has details. >> liz, i have got to ask you, shera, what is your favoritef you're red wine drippinger? liz: screaming eagle. >> cathy griffin says about her mother and the box of win, tip it, tip it. if you need wine you can order online not yet with amazon. there are a lot of companies where you order on loon. cameron hughes.com. we profiled them on fox business. now amazon is creating a marketplace. they won't actually ship the wine. they will connect you with the wine vinters and wineries will ship the wine. they will charge 15% commission and charge wineries $40 a month to take part. each state has different laws who is allowed to ship wine or not. for instance in new jersey it is different than new york. in new jersey, if you want to buy online mailed to you can be sent to your office. you can do that with amazon.com once they get the program up and running. david: adam, amazon is not only business that is rolling out a business different than with people are used to. facebook getting a pop as a result of them going into a news business for them. >> i

adam shapiro, give us those numbers. reporter: that's right. on earnings-per-share, 53 cents, david. non-gap priorities. he missed 8.18, rounding up to 8.2 billion. david: all right let's go to joe cusick. what's going on joe? what you think of the numbers so far? in the after hours trading umax. reporter: we will expect about a dollar movement in this event. it will be interesting to see how the action shapes up. we have seen pullback on the initial event and then we get a little popular. it will be interesting to see what happens after hours. david: by the way, we should mention that the stretch between june and august is typically oracle's best quarter. expectations were dampened by that. liz: hank smith, i want your opinion on oracle. a lot of people onus on their portfolio. it is a huge company that shows real muscle. they are taking on everyone from salesforce.com to hewlett-packard. they are talking smack right and left. is this an investment right now? do these numbers there a better story? >> we have not been owners of oracle. we would

adam shapiro in the newsroom with it.dam. >> this is the latest on emergency landing that an aircraft carrying ann romney, the wife of presidential candidate mitt romney along with five staffers, two secret service agents and the pilots on board the plane made an emergency landing just outside of denver. apparently is a challenger aircraft. it seats 10, not including the pilot and copilot. there was smoke in the cabin 10 minutes before the emergency landing in denver. ann romney's spokesperson, sarah hayley said the smoke stung their eyes. it appears to come from a electrical cause. but that is not confirmed. everybody is reportedly fiber-optic according to fox news channel's carl cameron, but again, it was a flight from omaha to louisiana. 10 people on board the plane including ann romney, made a successful and safe emergency landing in denver. back to you, melissa. melissa: all right. adam shapiro thanks so much. welcome back to the special edition of "money", open for business. we're live in houston, texas, to dig into

let's go right to adam shapiro who has more on this.> this is on top of what charlie gasparino is reporting. now "the wall street journal" reports that jon corzine, former head of mf global actually met with officials from the u.s. department of justice just last week to discuss the demise of mf global and 1.6 billion in customer fund which were used inappropriately. cords sign apparently spent two days talking to department of justice investigators. the journal reporting that the criminal and civil probes continue and they're still looking, those investigate for signs of willful intent to move that money they were not supposed to use to cover some of their margin calls. the journal reporting that jon corzine did meet with department of just tis investigators just last week. melissa? melissa: adam shapiro thanks so much. today is the big day. apple finally unveils the new iphone five at a conference in san francisco. you can hear the cheers. tech junkies and techsters alike are rejoicing. but is it all it is cracked up to be. forbes sen

paul shapiro, joining us in studio.atest campaign, the humane society has filed a lawsuit over the slogan the other white meat. what is going on here? >> the other white meat is running in to some shall we say the white collar industry. the pork industry has a new slogan, pork be inspired. >> bill: what? >> not many people have seen it. it is not that inspiring and knighter is the way the pork industry treats animals. but you have got to keep in mind the pork industry has a lobby group that earned that slogan the other white meat and they sold it to the national pork board which is a body that is prohibited at lobbying at a grossly exaggerated amount. it is taking these federal checkoff dollars and sending it to the lobbying arm for the pork industry which is notorious for lobbying against anti-animal cruelty legislation. >> bill: just as it relates to pigs, right? >> absolutely. the pork industry's leadership is against animal legislation not just for pigs but really for any animals. they have never met a type of cruel

liz: thank you, adam shapiro. holidays already. we have to think about that.id: we have numbers that could move your money tomorrow. if you care about your money, and who doesn't, stay tuned for tomorrow's trades today. that is next. liz: after a surprise speech by clint eastwood at the r in. c, a new on line petition to urge the dnc to book their own celebrity. we'll tell you who they think should be the golden addition. ♪ so... [ gasps ] these are sandra's "homemade" yummy, scrumptious bars. hmm? i just wanted you to eat more fiber. chewy, oatie, gooeyness... and fraudulence. i'm in deep, babe. you certainly are. [ male announcer ] fiber one. less expensive option than a traditional lawyer? at legalzoom you get personalized services for your family and your business that's 100% guaranteed. so go to legalzoom.com today for personalized, affordable legal protection. >> breaking news on facebook which hit a lifetime low earlier today in's trading session. ceo mark zuckerberg in an sec filing said he has no plans to sell shares for at least 12 months. there are

. >> i am adam shapiro. one of the world's largest property investors looking for pork barrel.rwood capital looking at sale of minority stake in the company had hired morgan stanley to conduct a search. it manages roughly $19 million in real-estate assets. whistle-blower in the ubs tax fraud case got a pay out from the irs. bradley received $100 million under the whistle-blower program for his role in the case. served time at u.s. authorities determined he withheld information. the digital revolution claims another victim after 94 years. ritz camera going out of business. was once the largest chain of specialty camera shops in the united states but has struggled as consumers shift toward digital photography. we continue count down to the closing bell with cheryl casone. cheryl: for a look at the most actively traded stocks today. let's go to the floor of the stock exchange and nicole petallides. nicole: taking a look at the most actively traded stocks. aig is the most actively traded stock and banc of america and sprint answer -- and city, we have up arrows all day long and we

and walter shapiro, a former white house speechwriter for president jimmy carter.a rurump whos worked for several campaigns, a senior fellow. great to have you here. >> i assume i'm over here in the corner because i was representing the tie-wearing -- then i saw waldner, and he has a tie on, too. >> i let him go this time but you are at the tie-wearing camera. let's start with the basic question of, sasha, this is something you're doing research on and from what i've read of the parts of your book that have been published, there's more and more scientific approach of testable hypotheses, rand yamization, experimental looks at the way campaign methods work. what does that research say about ads and their effectiveness. >> one of the few times people have measured the impact of ads was in rick perry's 2006 campaigns where he brought on four academic political scientists and invited them to run randomized control trials on basically every aspect of his campaign -- >> he said you guys tell us where to run the ad it's a ads. >> i'm skeptical that the things i'm spending

the amazon conference giving up details to adam shapiro.should be available by september 14th. the display plays a video and potentially taking on netflix. 40% faster than the ipad. the kindle fire does not offer for g but the ipad does. i am not sure why you need to speakers. the i have only has one. and also for movie watching you can tap on the screen to get data, the name of the stars, also parental controls you can limit the time your kid spent on it. does it just implode? the price is $199. the same as the old one. as they get new permission we will send it out. it is time for stocks going back to new york stock exchange with nicole petallides. >> looking at the rally and has not budged look gain at 222 points that is where we are right now sitting at the 1430 mark. look right now at the highest level since -- since may 2008, now at the highest close since 2007 with of s&p 500. moving sector to sector wells fargo, at kraft foods foods, home depot, a disney disney, urban outfitters many are hitting new 52 week ties. tracy: it is a good

call or go online now. [♪...] >> i'm adam shapiro with your fox business brief.re under pressure after slashing its outlook for 25th teen. the company now sees earnings per share up to $18 on revenue up to $100 billion, less than they had first started. >>> oil settles at a seven-week low on renewed concern over the european debt crisis. stronger u.s. dollar also took a toll. oil continue their downward trend. drivers are seeing relief at pump. the price of gas is down six cents from a week ago. >>> paychex reporting mixed first quarter results after the closing bell. earnings for the payment processing software company beat estimates by a penny at 4 cents a shear. revenue felt short of expectations -- 42 cents a share. that's the latest from the fox business, giving you the power to prosper. [ mujahid ] there was a little bit of trepidation, not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well

on the newshour tonight, we talk with npr's ari shapiro about the blitz of campaign ads in colorado springs, a republican- leaning city in a critical swing state. >> ifill: plus stuart rothenberg and susan page take us inside the strategy behind the message. >> woodruff: then, from syria, bill neely reports on the stalemate in the city of homs, as government troops target rebel bastions. >> one-and-a-half years after it began and the battle for this city and for syria grinds on relentlessly. the bombardment of hommes. the war here is as intense as ever. >> ifill: as world leaders gather in new york for the annual meeting of the united nations general assembly. margaret warner gives us a preview. >> woodruff: will new genetic findings reshape the treatment of breast cancer? we ask dr. harold varmus, head of the national cancer institute. >> ifill: and ray suarez kicks off american graduate week with a conversation with three now- successful people who know exactly what it's like to want to drop out of high school. >> sometimes we give up on kids too soon. sometimes we want to teach to the te

joining us now with more is adam shapiro. adam, what's going on? we're going to turn our attention now to something not only important to israel's economic future but to its actual security and that has to do with energy independence. joining to us discuss israel and israel natural gas, the state-owned corporation, is the chairman of the company. and it is a pleasure to have you on fox business. the gas fields discovered last couple years, the tamir and the levithon gas field have the potential to make israel energy independent but israel an energy exporter. how quickly will that happen? >> this will happen, that's for sure and the question when i will happen is depends how fast we can plan infrastructure, bring the right investors to participate with us, to partner and then be able to export. we have over 900 potential bcm in israel in the current discoveries. exporting out of israel is essential. it conventional for the -- essential for developers. >> calendar year for the exports could that be for the next three or four years we could see this h

let's talk with matt shapiro. he runs a little company called mws capital.k matt, we have the nasdaq at something like a 10-year high, the dow at a five-year high. a lot of people might be thinking, "it can't go any higher than this." what do you say to your clients? > > well, what i tell my clients is that this market has a lot more room to grow because valuations are still compelling, and the alternative - a 10-year treasury at 1.75% - is not going to keep pace with inflation. now, yesterday, we had a big move not only through technicals in the stock market, but gold had a big move. so, there's a lot of things making this market think it's going to have a finish. at the end of the year it's going to be very very strong, and stronger than people think coming into the election. > > so you don't think just buy into it and get ready to sell within a handful of days. you think long-term investors have opportunities here too? > > yes. there's a lot of cash on the sidelines, bill. for several years people have been pulling money out of mutual funds out of necessi

the kennedy administration with people like abraham feinberg financing nuclear weapons development shapiro transferring material i mean this is almost a clean are you saying that anything is more stick change or shift elsewhere in the world are you saying that's all israel lobby to i mean i got your son and i say to show israel's last recent rewordings even created a credit processes in the united states for example israeli trade minister dan how current stole classified documents and they haven't really been here we're going to go to a short break folks a short break and after that short break we'll continue our discussion on the israeli lobby in the u.s. state. re jews and creative. elegance and full and public speaking. her from. a few european bodybuilders against the millions we teach immigrants. her these may not seem so serious now. but this could be a real threat. to. european extremists. the friendship asian of russia has started again after two hundred years up at the . sub church the emperor napoleon has arrived from overseas to lead the army i have to really take my time to pre

can of the administration with people like abraham feinberg financing nuclear weapons development shapiro transferring material i mean this is almost a clean are you saying that anything is more stick change or shift elsewhere in the world are you saying that's all israel lobby to i mean i got your story about taylor says that it was last resort rewordings even created a credit processes in the united states for example israeli trade minister dan how stole classified documents and have just been here we're going to go to a short break folks a short break and after that short break we'll continue our discussion on the israeli lobby in the u.s. state. the phone you can. download the official. cellphone choose your language stream quality and enjoy your favorites. t.v. is now required to watch on t.v. all you need is your mobile device to watch ati any time of the. wealthy british style massage. market why not. find out what's really happening to the global economy with mind stronger for a no holds barred look at the global financial headlines two kinds a report. you know sometimes you see a

this kennedy administration with people like abraham feinberg financing nuclear weapons down and shapiro transferring material i mean this is almost a clean are you saying that anything more sticks to the ships elsewhere in the world are you saying that's all israel lobby to i mean i got your story and i say to show israel's last release of rewordings even created my cravat processes in the united states for example israeli trade minister dan how stole classified documents and they have to join us eight hundred we're going to go to a short break folks a short break and after that short break we'll continue our discussion on the israeli lobby in the u.s. state. moon come to the place for a swimming bird you can catch both of the premier maritime deviation show of the summer check out a whole family of russian engineering feats of the let ships truly fly or just go with the flow and take in the view of the bay below but hold on there could be turbulence on board the plane it's only jet powered insidious plane let's. tear that up of the world's most colorful chopper and you. to teach. the f

sovereign can of the administration with people like abraham feinberg financing nuclear weapons down and shapiro transferring material i mean this is almost a clean are you saying anything more stick shaker ships elsewhere in the world are you saying that's all israel lobby to i mean i got your show israel's last resort rewordings even created a credit processes in the united states for example israeli trade minister dan how stole classified documents and they have just been here we're going to go to a short break folks a short break and after that short break we'll continue our discussion on the israeli lobby in the u.s. state. courageous and creative. elegant and full and public speaking. for. a few european bodybuilders against millions of weak immigrants. this may not seem so serious now. but this could be a real threat to. european extremists. wealthy british style sign. on. the. market why not. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into kinds or report on. the phone. download the official

dagen: adam shapiro outside santa monica, california.s been tightly controlled, information leaking out about this new device, some reports say it will have an android operating system. nokia has not confirmed but reports are in a licensing agreement to provide mapping services to this device and that is what this is all about in the mobile industry when you speak to tech geeks, location and mapping is where all this is heading so this device will have somebody that in some form or another. they sold out of kindle fire last week, smith expected to be the next iteration of that. it is imperative for amazon to continue its push forward into the more commonplace tablet sort of device. can they compete with apple? apple controls 70% of the tablet market. by best estimates, kindle has 20%. but can they hold onto that? connell: adam shapiro from santa monica. dagen: stocks down every 15 minutes. why is the market up so big? nicole: obviously out of the ecb and europe printing and making things easy for the banks to borrow and move forward. wha

thank you for your time. >> it's my pleasure. >> i appreciate that very much, robert shapiro.rt chilton is in the santelli house and we'll sick rick on mr. chilton in a moment. [ female announcer ] want to spend less and retire with more? then don't get nickle and dimed by high cost investments and annoying account fees. at e-trade, our free easy-to-use online tools and experienced retirement specialists can help you build a personalized plan. and with our no annual fee iras and a wide range of low cost investments, you can execute the plan you want at a low cost. so meet with us, or go to etrade.com for a great retirement plan with low cost investments. ♪ >>> we've been looking at photos like this all morning long, it's the new apple maps app image of the hoover dam, although you would not want to be near a dam that looked like that. apple maps being heavily criticized for its quality and apple being criticized for its switch away from the google maps app. here's a look at how the two apps compare for the same location, this is tokyo, a little more detail on the left and the

of it has leaked out to the media as well, including the very heated discussion between ambassador shapiro and prime minister netanyahu in israel, two or so weeks ago. will this amount to a strategic shift, i think it's too early to make a judgment about that. i would doubt that it would. but i think it's quite clear there's a very diverging view and an increasingly diverging view between the tpha*et -- netanyahu government and the obama administration, and also with relation to the arab spring and other things as well. >> eventually you guys will be in washington and the working government -- they will be in a much better position to make any comments, but based on my observation, in my year that i spent in the united states, and from my composition, israeli, jewish, american, americans are more complex people, more than any other in the world. we cannot call this an alliance between country x and country y. if i were to look at the barometer, the level that okay, they are going to benefit from this, i mean, if iran would like to say the israeli-iranian relation -- move over, i would be -

some of that has leaked out to the media including the key to discussion between ambassador shapiro and benjamin not -- and benjamin netanyahu a few weeks ago. it is too early to make a judgment of that. it is quite clear that there is an increasingly divergent view between the netanyahu government and the obama administration to handle this issue and a large number of issues. from serious to the arabs spring. -- from syria to the arab spring. >> based on my observations in might year as spent in the united states, american relations are for more complex than any other nation in the world. we cannot look at this as an alliance between country x and country y . if i read and says u.s.-israel relations are at their lowest and let's use that, that would be a mistake. many iranians living in iran -- iran is not a typical middle eastern country where people are really zero pressed -- oppressed. is it -- it is a big culture and they let many people go abroad and make observations and share their observations. iran is keeping abreast with of the west. the clock is ticking. it is not just a clo

let's go to adam shapiro who is inside the announcement area in santa monica, what is going on? >> talk about putting a v-6 team in a volkswagen bug the. this $499.32 gigabyte memory and you get that fur $499 and this is direct competition to the ipad with comparable features would run close to $759 saying amazon is in the business not of selling you a product but want to tell you something to use to so -- kelly the content you use on that device. there is the kindle fire hd which comes in $299. the kindle fire hd and smaller screen comes senate $199 and then the ecb readers which wants all of this in 2007. the kindle illegally introduced the kindle paperweight at $119 and the baseline, you also have the kindle paper like is their name for the display which is easier to read. a true white paper. you can see it in some light. $179 with 3d access. that is what the big announcement was. dropping on the base models and margins are not made on selling you a device but on content and that was making headlines. liz: we love the kindle fire and double up with the ipad. love this story.

the sec, i think with the right funding, okay, i know mary shapiro, i have known her a long time, a terrificator, a smart woman imus if she the right funding, these markets would invite the public back in and, you know what, the public would benefit because of those rates of return. gerri: people have said this forever. that they are underfunded. undermanned. people do not have the experience they need. this was said, not by me, but by a senator. the capital markets are a public good. much like a highway. we need to have clear rules about the speed limits and who can use the hov lanes. we need to make it clear what the rules of the road are. do you agree with that? >> i agree with that. i have a couple of caveats to it. when you are on the highway and doing 200 miles per hour in your ferrari and you hit a hospital zone, you have to slow down even though that ferrari can do 200 miles an hour. it is about rules. it is about common sense. it is about a very simple test, gerri. what we are about to do with a rule, a piece of technology, is it right for the most sophisticated ruler. take care of