saying quote, "...the s.e.c. is stronger and our financial system is safer and better able to serve the american people-- thanks in large part to mary's hard work." >> reporter: the president's choice to replace shapiro, elisse walter would finish the 13 months left on the current term as chairman. walter served as interim chairman before shapiro took over. the administration has until next december to nominate a new chairman for a full term. sylvia hall, "n.b.r.," washington. >> susie: joining us now with more on the s.e.c., john coffee, securities law professor at columbia university. you know, jack, mary schapiro got lots of criticism for her years at the sec, whether you want to talk about lax supervision for the whole persony maddoff scandal, she gets criticized for it. as she leaves the sec what kind of shape is that agency in? >> well, i think it is in improved shape. remember that no sec chair in the long history of that agency has ever faced a more difficult, more demanding or more thanksless job than sh

they are, indeed, involved in this, and christine romans has some clarity on why in the world the s.e.c >> well, because bp is a publicly traded company, and when something material happens to its finances or the way it's doing business, it has to file with the securities and exchange commission, and there were three reports, three oil flow estimates that they gave in securities feelings to the s.e.c. that turned out to be not right. they were off. because of those three reports, the s.e.c. had sued bp and now they will settle it for $5 that 25 million paid in three different installments over the next few years, but $525 million, because this is a publicly traded company. its stock was trading. investors had exposure to what was happening, and the information, the news. when news happens about a company -- when news happens about a company, it's a publicly traded stock, it's a 401k, it's in pension funds, the government they have to put all of this kind of stuff in writing to the government. >> i knew you would have the answer, and that makes complete sense. it affected all of us, even

mary shapiro is stepping down as head of the s.e.c. and president obama is designating commission member elise walter as her replacement. eamon javers is in washington with the details. >> reporter: this is a bit of a surprise announcement. a lot of other names had been speculated over the past couple of days here on who might succeed mary shapiro over at s.e.c. but the tap goes to elise walter today. she is a sitting s.e.c. commissioner now. that means that the president will not have to face a bruising confirmation battle up on capitol hill for her to take over as the chair of the s.e.c. what we're told is the president is likely to appoint somebody to fill out that term after elisse walter finishes up mary shapiro's term in 2014. we expect that the president will name somebody else to follow on after elisse walter. a little bit of complicated moving and shaking here but already the consideration in washington turning to mary shapiro's legacy. she took over at one of the darkest points in american financial history in january of 2009.

the enforcement division of the s.e.c. s fraud office of the u.k. >> what would you say to those that say hp never should have bought this company but that you are now coming up with reasons as to why its value is not what it once was and not performing well and none of these will rise to the level of outright fraud. they will be things that were not done perhaps as well as they could have been at autonomy. >> obviously we feel there was very serious accounting improprieties and misrepresentations. what i will tell you about autonomy is we still like the business. we like the technology. we think it's going to be an important part of hp software's growth strategy but not as valuable as we had believed it to be because revenues are lower, growth rate we believe will be slower and the margin is not what was reported which was in a 40% to 45% range. we think more 28% to 30% range. as you know when you do a ten-year discounted cash flow you come up with a different valuation and the price of the write-down that was in excess of

the s.e.c. region, alabama and georgia, the winner of that game now also in play to get to the national championship. so who would have thought when we woke up this morning that the world of college football would be upside down yet again. >> brent: that's why we love this game so much. once again, our final score, stanford wins an instant classic. 17-14 in overtime. next week on saturday night football, on abc, notre dame travels to los angeles to take on usc at 8:00 p.m. eastern for a shot at a bcs championship. thanks for watching saturday night football. so long, let's go to robert flores. >> all right. inside our college football studios, ford wrap-up and with the bcs chaos notre dame poised to be number one for the first time since 1992 when our own lou holds was the head coach. all part of the chaos tonight. number one kansas state going down in waco tonight. second quarter, baylor jumping out to a 21-7 lead. nick florence to williams, 22-yard touchdown. and oregon transfer, 185 yards for

fountain winner of the s.e.c. championship game goes to the national championship game, florida probably is still going to end up in one of the bcs bowl games at the end of the year. >> brad: will just got it. they pour it before the snap manuel to the end zone. incomplete. we are down to ten seconds. that is a happy shower, a happy guy, as they stalked him for quite some time on the sideline. >> todd: i know his peripheral vision is better than that. i think he knew it was coming and said i'll just go ahead and take it. >> brad: as a former georgia defensive back, you think his vision would be better than that. he's a fiery guy, has tried to calm down business sideline demeanor because he said, last year, we blew some opportunities because we blew our cool and i told my team, if i don't blow my cool, i expect you not to blow yours and they will not blow up their chance but they might give up a touchdown on the last play and they do. e.j. manuel on the final carry of his senior night, he gets a touchdown to close t

the white house has named current s.e.c. mmissioner elisse walter to chair the agency going forward. walter can serve through december 2013 but then the president must name a permanent successor who must be approved by the senate. the commission will have a party split so there may be pressure for the president to appoint somebody more permanent more immediately. >>> a long, drawnout fiscal cliff negotiations aren't to go the market any favors. becky quick is here with the market rundown. becky, i'm just thinking, how is the market going to handle what i'm sorry to say is going to be a very repet it tiff next couple of weeks? none of the real deal making is happening. >> reporter: there's some serious issues out there. we had roger atman on the show. >> potential treasury secretary. >> reporter: a former deputy secretary. he said, look, we could be in for some really rough riding over the next several weeks. if you get up towards december 15 and beyond, if there's not a deal, his guess is the equity markets will react much li

theirs are suffering because the s.e.c. says it has closed an investigation into their financial practices but reserves the right to take action later. the s.e.c. is part of closing its investigation releasing a number of letters. this summer the s.e.c. asked them for details about revenue for its new business line including its goods business which they began to disclose information about mid-august, also asking for information about how it handles refunds and looking for information on the reasons behind groupon's financial revisions to its fourth quarter results back in april. the company did not have any additional comment beyond the disclosure of this s.e.c. information and, maria, it's one-year anniversary, certainly not any way to celebrate. back over to you. >> thank you so much. it is all systems go for the new york city marathon. mayor bloomberg saying it will raise money for relief efforts but bad use of resources in light of all the sandy victims still struggling to get their lives back together. my thoughts next

and, there's a long history of the s.e.c. ng civil charges against companies and even some hedge funds. settling with the agency cost pequot $27 million two years ago and the hedge fund manager phil falcone is still fighting charges. arthur andersen and aig have also been through this process. it can be very costly and hard to come out the other side. >> wondering right now is whether people are starting to yank money. >> that's a good question. definitely the question of the hour. it would seem they wouldn't put a call like this together if they didn't at least have concern investors were voicing. i have heard of at least one entity that filed notification it wants to redeem. that will be in the first quarter because the window for this past quarter has already come and gone. i've talked to others who say -- brokers in fact who say their clients, particularly high net worth individuals are raising a lot of questions, what's the future of sac, what if something happens to cohen and he can't run it. their cap stital is awfully

in the s.e.c. call for that is that something we should have or are there unintended consequences that would make it bad well first of all that's networking want to warn the fact that we don't have them in the first place is is that the whole topic why would you mean you don't know how to turn somebody off really ok the second thing is trading happened so fast now i mean we see events where a big stock played games and will go two percent back in two seconds so you can sort of set it back in two seconds seconds and wow and this is not an isolated case i would say every day there's a couple of these big cap stocks and if you're looking at a one minute charge it just looks like a bad price to it but then when you dig inside you see wow there were seven hundred troops in there one of. their own and it's very secure to see that because one day they were all just going to go at once and you know one that we're going to break in and we're going to have a flash crash except this time i have to come up with

although he is not named by name in the federal or s.e.c. complaint, it clearly seems to be he who discussed one of the trades involved with this former employee and in fact authorized the trade to take place although we don't know what cohen knew about whether the information was ill gotten or not. so the question now becomes what is the investor reaction? are people thinking of redeeming the money from sac or not? this is a firm that has really outperformed, especially in recent years. this year, they manage about $14 billion. up more than 10%. also charge some of the largest fees in the industry. 3% of expenses. 50% of upside, so this is pretty high. they've i guess justified it because they perform so well. investors have not redeemed in any meaningful way, but i did speak just today to a fund to funds manager who decided they would redeem capital last night. this person said he was sick about the decision. he feels strongly in a positive way about sac in their performance, but his own investor, several of them, got nervous about the news

the ongoing s.e.c. investigation is the same. class action lawsuits that former employees making scurrilous charges are the same. this says it all. in a nutshell, in boosting the stock to a buy today, is up trust analyst bill chappell says kelley brings experience and credibility to green mountain. of course. you could have said the same thing about ron johnson at jc penney and leo apot that canner at hewlett-packard. >> you want the best of everything. you want both worlds to be true, my friend. this is the problem. everyone is blaming a poe techer the problems of that crummy deal with hp. ceos matter, now you are saying ceos don't matter. everything else is the same. >> matter when the business mod itself is potentially challenged, an s.e.c. investigation? we have seen time and time again where a ceo has been brought into a troubled company, the stock is lifted on it and then the trouble sort of rears its head down the road. >> we got to move on, a good twitter question, right? @mandy cnbc, at herb greenburg, do you think ceos

the winner will be announced at 7:00 on saturday after the s.e.c. football game. >> logan thomas and the hokies facing miami tonight. look at that. action completely untouched for the touchdown. he is 3rd all time in touchdown rushes. the canes were too much for the hokies, virginia tech loses 30- 12. the terrapins host indiana university tonight in basketball. the terps return four starters to go along with the nationally ranked rerecruiting class. coach mark turgeon is excited. >> the class is deeper. you will see it tomorrow. >> time to announce the winner of the game of the week poll. you chose falls church at stewart. we'll have extended highlights tomorrow at 11:00. >>> less than 48 hours after winning his first gold glove, adam laroche said "show me the money" he is a free agent and can talk to other teams on saturday. sean burnett is also a free agent but say they would like to stay with the nationals. >> there you go. hey kerrigan, we love you. how about getting some sacks? >> we'll be right back. . >>> 9 news now is sponsored in

let's check in on the s.e.c., the big one happening in baton rouge.here's nick saban in his old stomping grounds! >> you mean there's another game going on tonight? nick saban's number one ranked crimson tide in baton rouge and lacey with the seven-yard touchdown run putting alabama on top early in the second quarter 7-3. but cyrus jones muffs the punt. and it's recovered for lsu, and tigers bomb the alabama 32. they're in striking distance. but lsu would stall out and line up for a 47-yard field goal and it's a fake. a pass to drew olman and man. and look at that one. >> yeah. >> and later on a.j. mccareen on a nine-yard touchdown run puts alabama up 14-3. but in the third quart here, jeremy hill for lsu would take it in from one yard out to cut the lead 14-10 alabama on top right now. >> how about the big 12, oklahoma state/kansas state. let's check in on another heisman front-runner, >> number two on the kickoff, makes a couple of defenders miss and breaks away for an 80-yard touchdown. and within a touchdown of kansas state. the second quarter, lo

we could ramp up the speculation on who might succeed mary shapiro at the s.e.c. iller from treasury department is one that people have talked about a little bit. i have sources who wave us away from that name. also "the new york times" reporting today that a former top executive at citigroup and ban bank of america may be in the running and enforcement chief at the s.e.c. is a name floating out there as well. a couple names floating out there. no obvious choice right away to go to over at the s.e.c. and obviously with all of the insider trading investigations that have been going on, big, big news in recent days, whoever is selected who head the s.e.c. is going to have a big impact on wall street, carl. >> all right. people will start talking about her legacy as well as we talk more about a successor in the weeks to come. thanks so much. >>> still ahead, the winklevoss twins are stopping by post 9. find out why they are investing in an online shopping service and next up, close and personal with e-mail marketing on cyber-monday. ceo of exact target tells us how hi

i want to recognize the incredible hard work and dedication from the s.e.c. philadelphia regional office conducting this investigation. including connie lynch, bryan thomas and matt wall have. i also want to thank all the members of the deep water horizon task force, especially john ba rhetta, derek holland and abby guesser and i want to thank the leadership of the attorney general african-americans. and laney brewer for their leadership in this investigation. thank you. >> i'll be happy to answer any questions you much. >> what -- when do you expect a settlement on the civil charges? >> we have been in negotiations with -- i'll be very honest. we've been in negotiations with b.p. we have not reached a number they consider surf in order to resolve those civil claims that we have. we have a trial set for february. we are planning to vig rowsly dib vigorously enforce our complaint at that time. there are possibilities that further resolutions could result -- >> as the attorney general has said repeatedly, b.p. ask exposed to billions of dollars for the harm the

and conflicting directions coming from the cftc and the s.e.c. in mf global's final days. cking thing is people have been talking about some sort of rational restructuring of all of the multiple regulatory agencies for years and it just cannot get done because regulators are as good at protecting their turf. maybe not quite as good. almost as good at protecting their turf. >> eliot: that would be an interesting competition. barney frank as dodd frank was going through congress, very much wanted to merge these two. but the agriculture sector which pretty much controls the cf text c so we're left with another disaster. is this washington atity worse? >> i'm not sure if washington at its worse. i think we might have seen worse which is horrifying but it is washington exhibiting pretty bad dysfunction, yes. it just makes sense for regulators to have access to information and to share information and not be competing competing -- that loft things off from each other and making matters worse than better. that's what we see time and time again. the one i guess positive out of all

i'm not going to get involved until i have satisfaction that the s.e.c. not really going to crucify it. and then i pointed out a buddy pointed out the filing statement in terms of when they hired kelly. i said this guy his to do an exam before he left the big job managing 65,000 people to come to green mountain. he has to be comfortable with the s.e.c. they restated that earnings for four years. the up side is pretty good. i'm taking a look, not buying it on this spike. >> buy it up 124%? >> the market is getting jiggy with it. i'm not. i'm going to wait for it to pull back. speeds like -- i think it's an attractive growth story. >> scott, let me add one thing, the single-serve cups, that's where their growth was, 47% growth. when you're talking about a company that might have interested for you, it's like a service contract that will always be there. at costco, bed bath & beyond, but it's about the single-serve cups. you see any kind of a pullback, this company still has growth. >> speaking of pullbacks, doc, what do you see in freeport mcmoran? >> i don

the tide will play fifth-ranked georgia in the s.e.c. tle. >> the notre dame team, this is the best notre dame team in a while. they could put up a good fight against pensacola high school. >> i didn't watch. are they really that bad? send your e-mails. >> tweet him. >>> coming up at the top of the hour. we're not talking about crimson tide. maybe we'll talk about the commodores. how general david petraeus' resignation, affects everything on capitol hill. the president of the council on foreign relations joins us to discuss. >>> when we come back here, we're going to huddle around the watercooler. ja "saturday night live" thinks of what mitt romney thinks now that the election is over. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> are you serious?

>> you know, the s.e.c. blamed some guy out in kansas but -- you know, i -- what does kansas have to do with any of this, right? (laughter) >> stephen: i don't know! it's your fault. i don't know. >> they blamed a mutual that used an algorithm that dumped futures on the exchange in chicago too quickly. but the fact is that what you were just talking about earlier, the 4% of those trades, most of those trades were fake, right? they were fake. so what happened with the flash crash is the pipes to these exchanges were so full of fake trades that the whole thing slowed down. no one knew what was going on until ten minutes passed. >> stephen: let's take one step back here. i already explained to the rubes in the audience what an algorithm is, okay? but what is an algorithm? (laughter) what are these things that are doing this thing? >> an algorithm is very simple, really. just a set of instructions that tells the computer what to do with a piece of information. so information goes in, output comes out. a simple a

let's check in on the s.e.c., the big one happening in baton rouge.here's nick saban in his old stomping grounds! >> you mean there's another game going on tonight? nick saban's number one ranked crimson tide in baton rouge and lacey with the seven-yard touchdown run putting alabama on top early in the second quarter 7-3. but cyrus jones muffs the punt. and it's recovered for lsu, and tigers bomb the alabama 32. they're in striking distance. but lsu would stall out and line up for a 47-yard field goal and it's a fake. a pass to drew olman and man. and look at that one. >> yeah. >> and later on a.j. mccareen on a nine-yard touchdown run puts alabama up 14-3. but in the third quart here, jeremy hill for lsu would take it in from one yard out to cut the lead 14-10 alabama on top right now. >> how about the big 12, oklahoma state/kansas state. let's check in on another heisman front-runner, >> number two on the kickoff, makes a couple of defenders miss and breaks away for an 80-yard touchdown. and within a touchdown of kansas state. the second quarter, lo

the report said the s.e.c. failed to encrypt some of the computers that contain highly sensitive information for stock exchanges. there's no evidence that the information was compromised. samsung has taken a bite out of apple the world's largest mobile phone maker. it sold 18 million of its galaxy x 3 smart phones. that makes it one of the fastest selling smart phones in the world. apple sold 16 million smart phones but a research firm said apple sales remain strong. total sales of video games continue their steep decline. a research firm says video games, their software and accessories plunged 25% last month. the drop is the 11th consecutive month of falling sales. sales may rebound next month with new releases in time for the holiday shopping season. and cheers from amazon the world's largest online retailer is adding wine to its long list of merchandise. right now amazon provides links to outside wine vendors. it plans to sell 1,000 u.s. wines in 12 states. prices will range from $10 to $100. >> i spend the r

the fact that the doj was involved with yesterday's case unveiled yesterday and not just the s.e.c. o him, i'm told. now the 56-year-old traders is being personally implicated in a situation that involved alleged misuse of invird information on a drug trial to sell short two pharmaceutical positions though it isn't clear what cohen knew before he authorized those trades back in december 2008. so far he's said he's confident his and his firm's behavior was appropriate and he is cooperating with investigators in this process. that said, the news of this doj proep probe was a bit of a shock from what i hear and the probe was the result of a trade engineered by a former sac employees named matthew martoma who has been arrested in his florida home yesterday and charged. cohen gen again was taken aback that federal investigators were involved. the hedge fund founder said he'll keep doing what he does. he's told staff members to just keep their heads down and continue trading as they always do. it is important to note that sac has had great returns in recent years. this year they're north o

there is a headline out that they filed with the s.e.c. for a new principal accounting officer that would be effective after the company files its 10-k. not sure that's exactly moving the stock here. but best performer on the s&p 500. $15.91 for pulte. >>> check out this new video that's coming in from the new york port authority which operates the path train which is a subway service basically between new jersey and manhattan on the night that super storm sandy hit. you can see the floodwaters gathering outside, then bursting through the doors leading to the path train platform, then to the path tunnels. path train restarted limited service just this week. >> amazing pictures. just astounding. one of the train services in my town, simon, just began i believe it was on wednesday because it uses some of those very same tunnels. look at that. wow! >>> united's flight delay problem yesterday may prove to be bigger than they want it. phil lebeau live with the details in chicago. >> the interesting thing is whether or not we're going to see resi

right unless there's a criminal case they're not emitting any wrongdoing so how culpable is the s.e.c. in the d.o.j. in this and why i mean this is the most inquest. important question why is fannie mae not in trouble for the same thing i mean they allowed it to happen i realized that the f.c.c. did actually sue individually daniel mudd he was support for c.e.o. of fannie mae and that that lawsuit is going forward in court the f.c.c. beat the motion to dismiss to dismiss i mean there's a little bit of hope there but there should be much larger penalties for all of those g.s.c. executives who allowed this to happen because who's paying for it max the american taxpayer care so what so now we're paying the f.c.c. to like not do their job basically well yes you see famously surfing the internet for porn all day so we're subsidizing a bunch of bureaucrats to whack off to porn while the banking system implodes due to massive fraud now imagine suntrust by a bank i immediately thought of my days on wall street in one nine hundred eighty s. because i used to work with i have clients of executi

"the wall street journal" has gone out there and done a bit of investigation looking at the s.e.c. filings and taking the turn from ceos and cfos and have come up with figures that half of the listed big corporate spenders have hit the brakes on spending this year. in particular we've seen it show up in equipment and software spending. this is flat line since 2009. this is seen as one of the sectors that's somewhat of a litmus test for economic activity out there. that is particularly concerning. but in terms of companies that were looking at the fiscal cliff, many are concerned that we'll see the economy fall off the cliff. all of this as demand has challenged from export markets in the like of the eurozone and china. it's no surprise we've seen the stock market reverse in recent days. we've seen the nasdaq down 9% in its worst losing streak so far since 2008. this is having a major effect on wall street and we'll see what the result is this week and whether there's any improvement as we come up to the thanksgiving period, guys. back over to you. >> karen tso live from london. than

they don't have to file -- >> they file -- they file a form 4 with the s.e.c. fine print to see this was part of a 10b5 plan. >> you have a unique perspective because of the options market and unusual activity. >> sometimes that unusual activity is tipped off by exactly these types of things. it goes back to that transparency. as herb said, if it had to be d displayed that joe terranova was selling shares of vertus on a certain day and it's a regular sale he's prearranged, that's a different story than if he can just pull it at any given time. >> the s.e.c. allows this. right? there's nothing wrong with it. though you've got more voices now coming out and saying that this shouldn't be allowed, right? average investors are sitting at home going what the hell's going on? they're trading on information i can't get my hands on? >> absolutely. the fact is they can do it at a whim it seems like. so much for what are considered preordained plans. they're not preordained. >> thanks. >>> coming up, cigarettes and booze. we pour over the sin stocks g e givigiv giving inve

because it could not air before the election because it was equivalent to a campaign advertisement and the s.e.crequires all stations to give equal time to each candidate. >> both the president and vice president watch the show each week with their families. "parks and recs" airs at 9:30. >> joe was preparing for life after politics. >> well, hey, why not? >> i think the guy's got skills. the big deal. >> i'm sure jimmy fallon and the rest of the late night people are going to have a field day with it. >> i'm sure they will. >> thank you for being with us. have a great day, everybody. join us at 5:00, 6:00, and 11:00.

that to their investors as well which is why they were fined more than half a billion dollars by the s.e.cy were misleading investors about what was going on down there. >> we're going to take a break but on the other side, mike magner from the "national journal." i want to ask you more about the status of the gulf now. where things stand environmentally. how bad is it down there when the "bill press show" continues right here on your local radio station and also on current tv. >> announcer: this is the "full court press." the "bill press show." live on your radio and on current tv. [ ♪ theme ♪ ] >> announcer: this is the "bill press show." live on your radio and current tv. >> welcome back, everybody. david schuster in for bill on this friday morning. so glad to have you with us. we're talking with mike magner, the "national journal" energy and environment managing editor. he's also got this terrific book called poisoned legacy, great read about bp's rise to power. bp both on how they handled the gulf coast spill but also some other things in their record. mike, how bad are things in the

the irish will wait for the s.e.c. nship game before finding out their opponent six weeks from now. >>> and some big games in the nfl last night. we have details from espn news. >>> cassidy hubbarth here with your "sportscenter" update. the giants coming off a bye, hosting the packers. eli manning trying to snap a three-game sweep. without throwing a touchdown pass. to rueben randle for a 15-yard touchdown. put the giants up 14-7. second quarter. third and six, victor cruz for the nine-yard touchdown, giants rolling up 24-7. in the third, manning gets it to hakeem nicks over the middle, and nicks to the goal line but called short. they would challenge. you can see the ball cross the plane just before it hits the ground. call is overturned. they win 38-10. >>> niners and saints. colin kaepernick getting the start. first quarter, first and goal. and kaepernick keeps it himself and takes it seven yards for the touchdown, kaepernick, 231 yards, a touchdown and an interception. second quarter, drew brees to marques colston i

they're going to take on either alabama or georgia who will face off this weekend for the s.e.c. championship game in atlanta. that's going to be a heck of a battle. florida and oregon round out the top five. and mika, as you said, that florida offense really surprising. you're right about the gators. you told me early in the year, watch out for those gators. >> i tell you, my insight is valuable. i'm glad you're finally getting that. >> finally. >>> always shoot us as e-mail at waytooearly@msnbc.com or tweet us and let us know why you're awake. we'll read the best responses later in the show. >>> coming up at the top of the hour on "morning joe," republican lawmakers show signs of compromise on the fiscal cliff with some backing away from grover norquist and his anti-tax pledge. we'll discuss what that means for the livelihood of a deal ahead with the "morning joe" crew. >>> and when we come back here, we're going to huddle around the water cooler. we finally have a dollar value for what it would cost to ride a manatee. we'll be right back. [ male announcer ] introducing the new

that that was kind of illegal so we're not going to many wrong but we we are going to settle with the s.e.c. now this is the first time j.p. morgan is really coming out and absolutely saying yes yes he's been investigating us you and i reported this the day my first story broke at the. january twenty fifth two thousand and eleven you put on your website that the f.c.c. would investigate this and they are what's really interesting here is how the settlements going to work right i mean. only going to be for a few hundred million dollars and considering the new york a g. sued them for twenty two billion dollars that's just a joke i mean that's a sneeze if if they put this money if the f.c.c. there's some sarbanes oxley you know act actually set up something called the fair fund so the the f.c.c. has a mechanism to take this money that they get from j.p. morgan ok and put it into the fair fund which would direct it back to the mortgage backed security trust and then it can be doled out to investors now if they just put it into the general fund i mean that's just like i don't like all the model

has been informed by the s.e.c. notice that it may as a parent company face civil charges in connection with the latest case against former trader mathew martoma and subsidiary of s.a.c. that he worked for. it's a heads-up from s.e.c. enforcement staff that they are recommending that the s.e.c. as an agency file these charges against the firm. that won't be made official until the full s.e.c. commission votes on this and it's not clear how soon that may happen. a wells notice and charges that it often is followed by can be tough for a firm to handle. it's just a negative precedent for companies and has always been in the past. however, s.a.c. said on the phone call today they are confident that even if this is to happen, the material -- there will not be a material financial impact on them and they are well prepared to handle this and founder of the firm, steve cohen, is personally responsible for this. cohen said he was present at the beginning of the call and turned it over to his president and said we take these

are the s.e.c. wants to do anything i mean the f.c.c. took five years to get this settlement they didn't do any digging why did they take so long. well i mean i think we have you know i wouldn't but i would go along chapstick the amount of chapstick that barack obama uses to keep his lips mores from kissing wall street's ass would drive the price of her dog higher this guy's a shameless financial terrorist the better and it's just scrapes and i can't believe that people are not surrounding wall street or the white house and demanding that come out their hands up this is a this is atrocious is are going to be any relief at all we're in a million man march on the f.c.c. we need a million man march on the f.c.c. on the new york fed right to timothy geithner's old house right to sit outside and camp outside until someone is charged criminally because let me tell you this case this is the case that is a slam dunk to charge tom or jeff first wiser and mike nierenberg for criminal fraud and i really don't think it's going to happen anymore and

let's check in on the s.e.c., the big one happening in baton rouge.here's nick saban in his old stomping grounds! >> you mean there's another game going on tonight? nick saban's number one ranked crimson tide in baton rouge and lacey with the seven-yard touchdown run putting alabama on top early in the second quarter 7-3. but cyrus jones muffs the punt. and it's recovered for lsu, and tigers bomb the alabama 32. they're in striking distance. but lsu would stall out and line up for a 47-yard field goal and it's a fake. a pass to drew olman and man. and look at that one. >> yeah. >> and later on a.j. mccareen on a nine-yard touchdown run puts alabama up 14-3. but in the third quart here, jeremy hill for lsu would take it in from one yard out to cut the lead 14-10 alabama on top right now. >> how about the big 12, oklahoma state/kansas state. let's check in on another heisman front-runner, >> number two on the kickoff, makes a couple of defenders miss and breaks away for an 80-yard touchdown. and within a touchdown of kansas state. the second quarter, lo

the s.e.c. chairman that according to the "wall street journal", mary shapiro, may leave her term before the end of the year. interesting this news comes on a day when we're going to hear about what the feds call and you're going to hear from the new york attorney for the southern district of new york at the bottom of the hour on what they call the most lucrative insider trading case, the biggest scream in risry. so all that is straight ahead. also, coming up, big ben's speech is just minneapolis away. we'll tacking whether he has the right recipe for the economy and the ris bs associated with the fiscal cliff. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fid