this is the amazing thing, he is , he is in his desk southern manhattan. when he hits his button to say by 50,000 shares of microsoft, that signal is going out the lincoln tunnel and the first exchange is created by high-frequency traders and they pick up the signal. >> let me interrupt you. it is going to a bunch of other exchanges. through light traveling fiber. physical distance matters. that happens to be the closest exchange. the traders are waiting to find out what he wants to do. they have built faster routes and they race ahead of him, they buy what he wants and so back to him. that simple. but it took him assembling a team of unlikely experts to figure out where the fiber was. he is the person who pulls out the maps. the fiberhere all of is laid. he has spent his life helping high-frequency traders get faster. he does not understand the trading side of it. he is brought in by brad and the first thing he says is the reason this is happening is fiber runs like that. they are waiting there. >> how did they do it? >> the high-frequency traders have se

so he's sitting, his computer desk, his desk his trading desk is in southern manhattan. and when he hits his button to buy 50,000 shares of microsoft. that signal is going out the highway out the lincoln tunnel and the first exchange is the basque exchange which is created by high frequency traders. they pick up the signal. >> rose: let me interrupt you one second. it's going to that exchange and going to a whole bunch of other exchanges. >> right. it's like traveling through fiber. it's like physical distance matters and it happens to be, that happens to be the closest exchange. the high frequency traders are sitting there waiting to find out what he wants to do. they have built faster routes from that exchange to all the other exchanges. they race ahead of him. they buy -- >> rose: what he wants. >> what he wants and then they sell it back to him at a higher price. >> rose: that simple. >> it's that simple but it took him assembling a team of unlikely experts to figure out like where the fiber was. >> rose: man, i love ronan ryan. >> he pulls off the mask. he knows whe

a federal judge has approved a criminal insider trading settlement between the southern district of manhattan capital now known as point 72. a judge approved a $1.8 billion settlement package, $1.2 billion of that was directly related to this pick case, $900 million of that was a criminal settlement. probation periods of five years a piece for sub enter ilts of the form eer sac capital. calling it a victory, says essentially today's sentence affirms when institutions flout the law in such a colossal way, they will pay the price. s.a.c. capital, now a family office. of course, a civil suit separate against the -- on. >> okay, kate. thank you so much. kate kelly with the latest there. it's the truce heard round the street there. carl icahn and ebay striking a deal after a very public battle. he joins us now on the phone, first on cnbc interview. welcome back. good to talk to you today. >> good to talk to you. >> this is being characterized as a win/win. and even you tweeted out that it's a win/win for all shareholders. is it truly a win for you, though, if you didn't get what you wanted ? and t

manhattan district attorney now maybe getting involved. i know you have been doing some reporting on that. can you talk about those two pieces? not fishman, but the u.s. attorney for the southernrk and the manhattan district attorney, what it is you suspect they are looking at and what role they are going to play in all of this? >> well, they have chatted with fishman apparently and they are cooperating. so they have deferred sdny's to new jersey. if when new jersey is done they feel they have more to pursue, then they can under rule six, they can begin their investigation. >> do you think -- he deferred -- chose to defer to paul fishman. they advanced basically very similar information to what the office subpoenaed. do you suspect advance will be told to defer? >> it i think they have people in that office that i think there will be communication between fishman's office now that it's out there. i think vance will proceed and where it gets tricky is in turning over information and calling witnesses. and if there's a witness that fishman wants, fishman trumps vance's investigation so they will have to wait. but there's a distinct possibility that vance's investigation could he

southern district of cork. the u.s. attorney's office in manhattan. that's basically how they got him.. so my piece is really about him. but also about why this hasn't -- >> so, answer the question, what a lot of americans wonder, how can it it be, that with all of the criminal behavior going on in wall street, leading up to acce september 15th, 2008, nobody but this poor guy went to jail? >> well, there's sort of many theories. i don't think it's conspiracy. i think what was was learned incompetence. essentially they had a decade of fiascos and mistakes and adverse rulings. and that took away their skill set to not only -- >> is that the prosecutors? >> we're talking about the department of justice as a whole. they went through a series of fiascos over the decade starting with arthur anderson. >> right. >> and they took bad lessons from that and they pulled back the investigative capabilities. >> how much did the transference of resources or lack of resources, within justice, specifically the fbi after september 11 have to do with seemingly turn a blind eye to wall street? >> i think

manhattan, so this did not seem like totally implausible news. but i can now report, we have now learned, conclusively here at msnbc, that the u.s. attorney for the southern district of new york is not currently involved in investigating david samson. doesn't mean they won't ever be involved in investigating david samson or any other aspect of this scandal, but they are not now investigating him. so this case is all in the hands of the u.s. attorney in new jersey right now, paul fishman. more so than we ever knew before, and more so than we knew even at the beginning of the day today. watch this space. >>> the name of the governor of ohio is john kasich. he's been there since he got elected in 2010, and he's not that popular. if you ask ohioans whether they like their governor, 42% do say they like him, but 30% say their opinion of him is unfavorable. now, obviously, he's doing better than some folks with numbers like that, but he's not in great shape for a guy who has to run for re-election this year. one of the ways you can tell he's not in great shape is that in that same poll, this incumbent governor, john kasich, is leading his democratic challenger

manhattan, so this did not seem like totally implausible news. but i can now report, we have now learned, conclusively here at msnbc, that the u.s. attorney for the southern district of new york is not currently involved in investigating david samson. doesn't mean they won't ever be involved in investigating david samson or any other aspect of this scandal, but they are not now investigating him. so this case is all in the hands of the u.s. attorney in new jersey right now, paul fishman. more so than we ever knew before, and more so than we knew even at the beginning of the day today. watch this space. once upon a tie there was a boy who traveled to a faraway place where castles were houses and valiant knights stood watch for the kingdom was vast and monsters lurked in the deep and the good queen showed the boy it could all be real avo: all of great britain, all in one place book on expedia before april 30th and save up to thirty percent. i'll just press this, and you'll save on both. ding! ladies and gentlemen, boys and girls, llllet's get ready to bundlllllle... [ holding final syllable ] oh, yeah, sorry! let's get ready to bundle and save. now, that's

manhattan, so this did not seem like totally implausible news. but i can now report, we have now learned, conclusively here at msnbc, that the u.s. attorney for the southern district of new york is not currently involved in investigating david samson. doesn't mean they won't ever be involved in investigating david samson or any other aspect of this scandal, but they are not now investigating him. so this case is all in the hands of the u.s. attorney in new jersey right now, paul fishman. more so than we ever knew before, and more so than we knew even at the beginning of the day today. watch this space. there's a saying around here, you stand behind what you say. around here you don't make excuses. you make commitments. and when you can't live up to them, you own up, and make it right. some people think the kind of accountability that thrives on so many streets in this country has gone missing in the places where it's needed most. but i know you'll still find it when you know where to look. marge: you know, there's a more enjoyable way to get your fiber. try phillips fiber good gummies. they're delicious, and a good source of fiber to help support regulari