>> a lot of people may not know of sc capital visors or stephen cohen. it's been in the news but for a lot of people who follow business. this firm is a pretty big deal. >> absolutely. this hedge fund was the envy of wall street. it had $50 billion in assets under management and posts outside trading profits for two decades but since it has fallen in fed crosshairs clients have pulled most of their money but stephen cohen still has a sizable fortune to manage at $9.2 billion. >> he alone has more money than many hedge funds will manage. so the agreement just means that they can't manage outside money. >> we've seen this so much, and we heard time and time again that ultimately it's not the money that matters. >> thank you very much. we'll take a quick break, and we'll be right back on "real money." >> it's been one year since hurricane sandy hit the east coast. the super storm was one of the most damaging and most expensive to ever hit the u.s. businesses were decimated. many still have not reopened. merchants in one neighborhood hosted a block party to

stephen cohen. i'm just going through my list here. >> [inaudible] are we going to see u.s. military operations all around the continent, how does that square with your contingent that america cannot be at war forever? >> if you look at the speech i gave at the national defense college several months ago, i outlined how i saw the shift in terrorism around the world and what we have to do to responds to it. and part of what i said is that we had decimated core al qaeda that had been operating primarily between afghanistan and pakistan, but you now had these regional groups, some of which are explicitly tied to al qaeda or that ideology, some of which are more localized. few of them have the ability to project beyond their borders, but they can do a lot of damage inside their borders. and africa is one of the places where, because in some cases a lack of capacity on the part of the governments, in some cases because it is easier for folks to hide out, in vast terrains that are sparsely populated, that you're seeing some of these groups gather. and we're going to have to contin

stephen colbert on thursday making light of the electoral blow the republicans could suffer after ted cruz crusade to defund obama care. joining us from memphis, we have democratic congressman steve cohen. i'd start with that the polling is clear at least for now the long haul polling will change, maybe we will have forgotten this from now. right now the polling seems clear the damage that has been done for the republican party. when you look ahead to the immediate future, these next two months on the calendar, do you think things will play out differently in the next round of negotiation, when it comes to funding the government and the debt ceiling, do you think the government will have a different posture this time? >> you'd think they would, if their child puts their finger on a burner, they're not lickly to go to that burner again, i'm not sure if some of these people don't leak the heat. they revelled in it. they got a lot of energy out of it. i read where representative flemming and i read where senator cruz and some others want to do it again. i think that the more seasoned people, miguel rogers, doc hastings and jimmy rodgers will assert themselves more and they've seen the dam