the stanford case, we've talked about the sec and the failures of the sec in the stanford case.as i understand it, it was a financial product, not a security. and that it was actually advertised as a foreign-based product. i mean, at -- it, you know, what effect did that have on the sec, you know, their jurisdiction on it was somewhat, you know, clouded, i would think, and i'm just trying to get a handle on that. can anybody comment on that? >> i'm not sure -- i'm not sure i articulated that right. but it was not a security, it was a financial instrument. >> yeah. there were, certainly, when the sipc issues came up, the claim was that they were banking and financial entities, not brokerage firms and, therefore, there was no coverage. but if i'm not mistaken, the sec did file a lawsuit in which it alleged fraud a on the part of an entity it claimed was acting as a brokered dealer. and so i think the sec, um, found jurisdiction. the real issue was what happened between, um, the years when this ponzi scheme was going and when it finally came to light and whether or not the process

the stanford case -- we have talked about the sec and the failure of the sec in the stanford case. as i understand, it was a financial product, not a security. it was advertised as a foreign based product. what effect did that have on the sec? their jurisdiction on it was somewhat clouded, i would think. i am trying to get a handle on that. can anybody comment on that? i'm not sure i articulated that right. it was not a security, it was a financial instrument. >> certainly when the issues came up, the claim was that they were banking with financial entities, not brokerage firms, therefore there was no coverage. if i'm not mistaken, the sec did file a lawsuit in which it alleged fraud on the part of an entity it claimed was acting as a broker dealer. i think the sec found jurisdiction. the real issue was, what happened between the years when this ponzi scheme was going and when it finally came to light and whether or not the process used was ineffective. i think they came up with sufficient authority. >> they obviously did have jurisdiction. but did that cloud some of the initial in

the sec is just not have that responsibility. is not with regard to the standards. >> thank you. >> i yield back. >> thank you. >> thank you. >> in the bcg report, your estimate it range from 200 million to $300 million and gave a sharp fall needed to but still the current mess in -- the current mission. we are all aware that the funding level is 1.18 5 billion paren. did you consider the effects of limiting the sec's budget to 1.18 5 billion? >> as we looked at the sec as constructive, we analyze the workload and said there is a capacity gap. we laid out a set of plans against that. it will create material efficiencies. we also recommended that given the circumstance the agency should look hard at the resources to the most important activities. it indicates what activities it will have to scale back or stop and ordered to do this. >> you did not recommend what they should not do? there is quite of a gap when you need $203 million. people need to do the job. this is quite a gap. i would like to ask, how will investor protections

the congress and the sec decided to make war spectrum available and provide it to independent companies. that is how sprint was able to enter the business. after spreads and other companies began to enter the business, you begin to seek a greater variety of handsets, more innovative services and plans. before, there's just a plan. you pay basically the same thing, and a matter which carrier you got under the duopoly. nobody wants to go back to those days. >> t-mobile and at&t have said they would have a tough time competing on their own if this merger does not go through. t-mobile would have a difficult time competing on their own if they don't merge with somebody. >> t-mobile is profitable today, if you look at their 10 k from 2010. they are enjoying healthy profit margins. i certainly believe that t- mobile is able to compete. so do other carriers. that is called competition. we are taking competitors from each other, but as sprint has been able to turn that around, certainly t-mobile can do the same. >> would it spread be interested in combining with t-mobile -- would sprint be inter

we need to get this to the sec. we need to enhance them and link them with other regulators with the sros, with the exchanges, so the market regulation, markets to we see what's happening in real time in the markets, if there's a manipulation going on. stop it now before, and likewise when we do our rulemaking, trading and markets a, we see what's actually happening in the markets and our rules respond to that and not to what we imagined theoretically might be happening. so efficient capital formation, real-time market surveillance, computer-based technology-based, real-time surveillance. and then lastly, congressman chairman, the enforcement tools, enforcement beefing up enforcement with the tools they need, tools, surveillance tools that they need and the enforcement tools they need and streamlining of their investigative litigation processes. part of which have been done recently, and dodd-frank, tactical things like that, sound picky and arcane but are really, really important to make the program run well and run

texas a&m is joining the sec. this includes -- concludes today's installment of initials i don't understand. this is "the colbert report." captioning sponsored by comedy central [theme music playing] [cheering and applause] [audience chanting "stephen"] >> stephen: thank you. thank you so much, ladies and gentlemen. i just... i cannot thank you enough. we have been on vacation, and for the last two weeks i've had the chant that to myself. welcome to "the report." good to have you with us, everybody. nation, it's hard to believe, but this sunday is the tenth anniversary of september 11th attacks. which means we can't be more than five years away from finding saddam's wmds. [laughter] since that tragic day, the american government has done whatever is necessary to safeguard the home hasn't from enhanced interrogation to inventing the phrase "the homeland." [laughter] we even tried to find common ground with muslim extremists but electing one of them president. [laughter] over and over... over an over this man has pro

the sec has subpoena power. it has ability to, and it should be working closely with market participants to get this information should the government have that separately in other ways. we don't always do everything in the government relevant many. there is sometimes working in the private sector to make sure things are kept up to date and more importantly, the extra, which is hard to get and is costly, that the government can tack into that when it needs it. >> if you were to call out one or two actual activities that slows down or is a barrier to smaller organizations gaining capital, gaining economic growth, producing jobs, which we're all fixated on here, what is that activity? as a policymaker, how would you change it. >> the major one frankly, we all know it is important to have people out there in the private securities. the government can't be everywhere, and you have to rely on, to a certain extent on people out there to police the markets. on the other hand, in the united states, i think it is hard to

the sec says, stop, the beer lovers started figuratively throwing beer mugs at sec and they're going mes. >> as a pabst drinker, i didn't say on the subject. but a bid for the reelection campaign to report on fellow citizens who were criticizing the president, a lot of response, it wasn't necessarily what the obama campaign expected. among the comments i saw six atm's in an alley killing a job. it looked like a hate crime. another one said quote, the g.o.p. won seats in new york and nevada i expect interference by sane people. >> solyndra for proving at least there's one at least one green boondoggle that liberals won't support. democrats are running away from this company only after it went bankrupt and defaulted on a half billion dollar government loan, but you have to take progress where you can get it. >> paul: thanks, joe, that's it for this week's edition of the journal report. thanks to my panel and for all of you, paul gigot. hope to see you all next week. . >> jon: on fox news watch. >> american jobs act. >> pass this bill. >> president obama taking his show on the road. pitc

the justice clearly stated in her dissent that the majority holds that the sec and the state system, the system that produces honest government, working on behalf of all honest people, clashes with the constitution. it seems the we have this very case coming to us in san francisco. questioning and a weakening of the public financing laws that we have put into place. while i understand my colleagues who put this forward in to avoid litigation and pay attorneys' fees, they want to further weaken democracy. i feel we did not fully examine our more comprehensive amended which would eliminate the trigger element of our public financing laws. but also make reforms that would strengthen our original intent in trading public financing laws. which is to decrease public perception of opportunities of abuse for deep pocketed contributors and insure the integrity of our electoral process. supervisor farrell: colleagues and members of the public, to read it -- to reiterate for last week. this has to do with the supreme court's recent decision regarding arizona as public financing laws. i would li

. >> among the case is being launched in the next supreme court court, the sec enforcement of decency roles. they are previewing the upcoming supreme court term, which begins october 3. the american constitution society posted this discussion in washington, d.c. it runs 90 minutes. >> good morning, everybody. i would l

according to the sec, they don't have to disclose they're billion arizona. nce glory holes. you stick your money in the hole, the other person accepts your donation, and because it's happening anonymously, no one feels dirty ( laughter ) so, clearly, i needs me a sugar daddy. it's time to play the don'tating game! ( cheers and applause ) welcome to the donating game. let's meet our host, kevin kline ( cheers and applause ) >> thank you. thank you very much. >> stephen: i should explain. excuse me, kevin. i should explain. one of the reasons i need a billionaire is that i have blown a lot of your cash hiring oscar winner kevin kline to host this game. >> i don't come cheap. ( laughter ). >> stephen: al all right, tonight we have three eligible anonymous billion wheers will have a chance to put their money where your mouth is, stephen. anonymous billionaire number one has a global media empire. he enjoys sailing. his hot young asian wife, and crippling the british government with scandals that spread like crabs at a youth hostel ( laughter ) please welcome bill

but that's what our former chairman did, and the sec saw right through it, there was no matter to their claim so, you know, they're trying to fight back right now and trying to say that some things are inaccurate in the book, and i would just say, you know, these are the same people who lost their post because of their dishonest tactics. so, you know, dishonesty and trick erie is not off the table for them. but, thankfully, we have a new leadership and new people involved in the party who are, you know, mending those bridges. and as far as is the rnc, you know, chairman steele was great. he called me the day after the primary, he personally came to delaware, and i talk about that in the book. so i hope at least with the rnc we still have that good relationship. and like i said earlier on fox, you know, and on cnn, i extended the olive branch to karl rove and said, come on, let's kiss and make up. so hopefully we will, and, hopefully, we can all get behind whoever it is that wins the nomination and make sure we're talking about the issues at hand and make sure we're holding barack obama

and, joe, first of all, the sec absolutely could be a division of the nfl almost.and it's like the sec and it drops ten notches to the other conferences as far as i'm concerned. stop hating on the maryland helmets. they're interesting. >> it's a flag that has that yellow and black checkerboard thing happening and the red and white? >> what is it? >> that is the -- that is the maryland flag. >> just because you have it, doesn't mean you use it. >> chuck todd. >> that's the flag of lord -- of george calvert, lord baltimore. we should all remove our hats and salute. >> can we start now with the president's approval rating. the lowest of his presidency so far at 44%. >> it is and it's -- there's a couple of things in here that are real -- warning signs to them. yes, it's an all-time low in the job approval rating. yes, 54% on disapproval. you know this very well, the favorable rating is at 44% and the job approval rating is 44%. they're -- when they start coming in to unison, this happened to president bush at some point just after -- in 2005, it's hard to recover from

the sec staff is also a war plant -- a war planner and if need be a war executors. understand the use of force and the components of the u.s. military. has to be a diplomat, especially with so many military regimes a round the world, it is the secdef that gets called on to deal with some of these military regime leaders and others, to. and, of course, the secdef is a member of the national security council and therefore is an adviser to the president on the big issues of war and peace. within the pentagon itself the secdef has charge of, and most of these are really fettered on his office, half a dozen simultaneous very complicated processes. one is the budget process, and at any given time the secdef is trying to juggle this year's budget, what are we signing checks for. next year's budget that they are defending on capitol hill and trying to get resources for, and planning for future your budgets. that is hard enough in itself. but the secdef also has to handle weapons acquisition which follows a different process from the simple budget process. personnel, what peo

la bat essentials australian born adam dunn is the sec to start the engine topside gave up both misses out as russian made best quotes to choose days world cup game against italy. big day for little england some little boost his claims for a european tour card with a one stroke victory at the russian challenge cup. but first a football and in the russian premier league a leg brace from dummy helps the need to go top after this and petersburg side came from two goals down to try to straighten out rubin the home side went ahead after five minutes thanks to a retaking parts that's not show the israel midfielder making no fuss about the second spot kick then raced through the first half is a nice and russian goalkeeper just after five there's nothing wrong in playing off the trash on saturday to seize the moment to blast time rubin second from long range on a favorite later substitute says that's within five minutes the man should offer launched the senate's comeback the midfield that finishing off a tanker last of its free kick and within eighteen seconds of minutes down the street tries

under the purview, when exports and help in tax-cut the question is does the proposal comply with the sec guidelines? -- when exploring health aspects, the question is does the proposal comply with the fcc guidelines? after a short presentation from the project, the board of held it 11-0/ . there were a couple of questions that were out of the purview that i wanted to share with you. supervisor kim would like to have a copy of the department of public health report for this site so she can see what the actual radio frequency levels are after the installation. this is normally done, but not normally provided to the supervisor. the projected levels are conservative, and the actual levels will likely be lower than what was projected. we further explained that the city through the department of public health has the order to comply immediately. second, supervisor campos has specific questions about how the rooftop workers would be informed so they could take the proper steps to ensure they could to work safely in the area. planning staff committed to getting back to both supervisors on these

people back home people here in israel have no clue of what's going on the sec there is there's a secret agreement between civil society and military. we know there is going on there but please don't bring it about you know we want to live our life without. without knowing what it takes to have a peaceful life. or here just to talk about what we did. because we feel this is the this is one of the most important pieces from the puzzle that is missing and the discussion and debate here in this area. we try to talk about the small stories that make the big problem to make big picture try to talk about what does it mean occupation how does a cloak on a daily basis. how do you do it as an occupier forty years of occupation according to the u.n. there are today more than five hundred checkpoints and obstacles in the west bank where these trailers soldiers control and hinder palestinians the biggest checkpoint is located between ramallah and east jerusalem an occupied land. the checkpoint is called. the i had group of israeli women and here eyes that nobody knows what's going on so we decided t

texas a&m is joining the sec. includes -- concludes today's installment of initials i don't understand. this is "the colbert report." captioning sponsored by comedy central [theme music playing] [cheering and applause]

while bat essentials australian born adam dunn is the sec to start the engine block that gave up both misses out is rushing their best what to choose day's world cup game against italy a. big day for little england some little boost his claims for europe into a card with a one stroke victory at the russian challenge cup. but first a football and in the russian premier league a late brace from dummy helps the need to go top of the st petersburg side came from two goals down to try to straighten out in the home side went ahead after five minutes thanks to a retaking policy that's not true the israel midfielder made no fuss about the second spot kick then raced through the first half is a nice and russian goalkeeper just after five years after growing in pain after a trash can saturday to seize the moment to blast time rubin second from long range on a favorite later substitute says but within five minutes the man shot off call from launched the senate's comeback the midfielder finishing off a tank a loss of each free kick and within eighteen seconds of minutes that mr tries to snatch th

that is the level where they say it exceeds the sec levels, and you could regulate. ide of that is outside of what the city could regulate. as for the defense, again, i will let bill speak to it, but i did measure with a tape measure. it is 56 feet. the misunderstanding has been explained and address. with the appellant, it is an agreement to disagree, i guess, about the distance. it is 56 feet. i will show you on a scale. i also say that at&t has done extensive public our reach. there has been a hoa meeting. bill has gone into measure levels in the apartments. you also of signatures on a petition from non merchants as well as merchants and others, so there has been a lot of outreach on this side, and a lot of effort has gone into making sure we have done it right. this site was redesigned. that is actually true. after going out to look at the site. it was redesigned after trying to make sure that it is in compliance. at&t has done the right thing. as for alternatives that were discussed, caltrans has a one- story building. i will let bill speak to whitmore. it does n

this is the sec's request to declare maryland a disaster -- this is the second request to declare maryland a disaster. >> another food recall this morning. this one also links to listeria. eggs of lettuce -- bags of lettuce are being recalled. >> this does come in the middle of another national outbreak. the fda spotted the list here in one bank of chopped lettuce -- one bag. about 90 cards have been recalled. the ceo is working with the fda -- about 90 carton's have been recalled. >> some time is like finding a needle in the head stack. >> listeria really shows up in produce. >> it is a bit of a puzzle for us as to where and the whole process of growing and packaging and distribution it might have been contaminated. been people have sickened. at least 16 have died. >> it has been pure hell. >> tamis palmer is suing. husband is clinging to life. there are fears the operate could get worse. >> we might see the illnesses and fatalities for the next month up into october. >> health officials do not know how the lettuce or cantaloupe got contaminated. kate amara, wbal-tv 11 news. >> millions o

they go into the treasury'suries general fund and the amount collected by the sec budget were diverted to other government programs. 2002, so, in 2002, congress change tho treatment of the fees so they would only go to a special w appropriations account solely for the sec.however, sec would have access to fees. however should they collect more than its appropriation.againnget in the.frank bill, they requiree some of the seas to go to the general treasury and others as they complained, they still e don't have access to their funds. p that's like the pto. if congress chooses not to provide all the funds.t and thef initiator will appropriation, they'll have them. in 2012, budget justification from the securities and exchange commission noted significant challenges. >> the senate went on to a proof and sent to the president the patent and trademark bill earlier today. we go live now to the senate. the centers got there and walk over to the house side of the capitol to hear president obama speak about his jobs plan plan e a joint session of congress. after his speech, the senate will come b

potential downsides to the democracy promotion that we've seen from this administration whether or not the sec knowledge will actually translate into foreign policy of course remains to be seen but we will be tracking that here for you. we will to discuss the latest developments in the region i'm joined by dr gupta moonlight he's the director of the german oriented institution. you know we're hearing the u.s. and nato changing their rhetoric on the region from encouraging change to being cautious about it could all these dangers have been for seen before they got involved. well of course each and every revolution will bring some changes which you can not predict but we all know that there will be turmoil that everything will change that there will be violence that is very typical for all reduces even in history so we had to expect some kind of you know turmoil human rights violations which are happening but as long as the western countries. the leadership in libya for example to keep their human rights record straight and to prevent these for the damaging violations i think we are on the right

investments to the sidelines up to two days of gains banking shares side fossil fuels then a shake up of the sec's it may not come into force until after twenty fifteen that has the previous question strong gave us investment wherein we just impressed the german economic data. in most complex markets have reversed on a. most is that the close of play trading range as russian investors were digesting iraq to date on the fact transceiver t.v. if you ask me europe. mounting concerns over growth in developed economies so i had a look at some of the individual showed moves in the my six year bond is just in march it said says the decision on partial privatization of russia's biggest lender will be made in the next few weeks telecoms provider will start down following its takeover of regional mobile operator volgograd. has acquired the remaining fifty percent stake for eighteen million dollars and was seeing strong gains of posting record high priced help results banks net profits rose one hundred thirteen cents to one point eight billion from its. high from troika janet says the trend of the market is

>> the government -- the sec is part of the -- >> greta: fcc or sec? > a private self-regulatory organization. the government requires me to be a member. it is not technically the government, but the government requires me to be a member of this organization in order to be a breaker. a lot of regulations that the company is enforcing come from washington. one of the worst was the patriot act. the anti-money laundering provisions of the patriot act cost me a fortune they turned me into an unpaid irs agent and fbi agent spying on every one of my customers. if any of my customers looked like they were doing something suspicious i have to turn them in to the government. if i don't that's a crime. >> greta: the thing that is so confusing, the lawyer got in trouble for spending time downloading porn at government expense. meanwhile madoff commits the most incredible blunder where there is no -- i've had the two extremes one trying to strangle a successful business that wants to expand. and the situation here that is deplorable. >> i wish they were all just wa

and the sec can't is expected to raise more than $200 million in revenue between and within $300 millionof kaiser's unions will be having a strike we explain what it is all about and what company would do to maintain services for patients. >> the union represents about 1500 psychology workers in california who said the chemical giant is not maintaining proper staffing levels amount other things. they have support from and other union the california nurses association they ranked 17th thousand statewide. this will come out in the largest work stoppage and kaiser history meaning picket lines and a lot of shouting. they say they just want what is this for the patients. >> they have offered nothing but cutbacks for us have not talked about staffing shortage. >> the strike this schedule from the 21st to the 23rd this month kaiser officials declined to go on camera but issued a statement that says we are disappointed receive the strike notice what our negotiations are still in the preliminary stage. >> kaiser says they will do their best and they say they're well prepared to continue providing

still drawing a to a village on the sec mainer. san jose state on saturday. f been the no. 0 n f l number e pack. but he did return to college. >> i guess my first thing is that i've listened to my ipod. >> give me an artist. >> a thank the first hit in his limp biskit song >> you have the most visible was this in an audition for the n f l? >> i do not look at it like that i am still in this team, i like playing football. >> could you go down the row and go down the offensive line of the 49ers? >> i do not think so. they have offense and if there are similarities. but i think they have great quarterbacks. >> for you, this year what do you want? >> for my team to win the championship that is the cool for this team we're going to work every weekend for that. >> what did we learn? he likes limp biskit and he wants to go out and winning. >> going out with upset at the u.s. open. the italian oh my gosh! with 60 unforced errors she was told the-0. 63, 36, 64. the esurance >> no giant ticket this weekend with ringling brothers back in town at the cow palace. look at

banking shown as a constant reports that a shake up of the sec's and may not come into force them to last twenty fifteen of the techs last one percentile says d. as investors from maine where e.m.i. was an impressive german economic times. time here in moscow equity markets are reversed early losses at the close of play trading remain chalky though as russia investors were digesting iraq through data on the effect trying to see in the last century your. concerns over growth into the economies let's have a look at some of the divisional show moves in the mice it's her bond was that in just a notch at the close it's says the decision on. partial privatization of russia's biggest lender will be made and the next few weeks telecoms provider will start apostles down in the stake over regional mobile operators. applied to the remaining fifty percent stake for eighteen million dollars and he was seeing strong gains after posting record high tough results but step profits rose one hundred thirteen percent to one point eight billion dollars. now you know why from troika dollars says the trend

responsive to the people we believe that patriotism abides by iranians together must be more powerful than the sec tarion forces that would tear them apart doesn't make it seem like the u.s. is willing to accept the same atrocities it's condemning all across the middle east and when they happen in bahrain when the government is launched with the new york times calls a ferocious crackdown against a popular uprising so sweeping it smacks of apartheid like repression of bahrain's religious majority. it absolutely does time and again in. this country and puts us in a really tough position it's very hard to make the international argument that america stands for freedom and democracy and liberty and the freedom of all people when it we seem to be picking and choosing which countries we come to the aid of and which countries re actually highlights the human rights abuses and the issues taking place there and one thing that we do also have to keep in mind that a lot of the folks in the middle east in the middle east remember is that our support u.s. support for the so-called arab spring did not come with

let me note that i have met with the new sec -- the new executive director for the sfmta, and he has indicated to me that he understands the gravity of this issue and that he is going to take all the steps that are necessary to address it. i know that he wanted to be here. there is a tjpa meeting right now that is happening, and depending on when that ends, he may be able to be here. but i see that ms. bose is here. so i would like to ask you to please come forward and to talk to us about this issue of overtime. because it is a pretty significant issue. again, in the last few years, we have seen pretty significant cuts to service in this system. in my view, to be able to restore a lot of those service cuts, we have to get our hands around this issue and tackle the issue of overtime. i think we owe that to the ridership. >> thank you. the director of transportation would have liked to been here, you're right. because he's committed to do what you suggested, looking at the overtime issue. it has been a significant issue for the mta. i know the new directors committed to not only lookin

flat as test is moved to the side lines up to two days of banking shares it's not a shake up with the sec to may not come close until twenty fifteen. percent of thursday's investors remain wary of me just unimpressive german economic data. he says markets have referred us to losses at the close of play trading range child. as russian investors were digesting a rough of data and one factor in choosing did you ask me your thoughts of me mounting concerns over the growth interval up to congress. so i have a look at some of the individual share moves in the minds of. just a knowledge of the close its head says the decision on privatization of russia's biggest lender will be made in the next few weeks telecoms provider will start go down although your stake overall regional mobile operator. was telecom has acquired the remaining fifty percent stake for a two million dollars and you will see strong posting record high priced top results net profits rose one hundred thirteen percent to one point eight billion dollars. now it could provide some troika dollars says the trend of the market is up. t

the sec schools, the enormous revenues that those programs attract.rsity of florida -- >> ohio state and michigan make a lot of money. >> okay. i hope you boys are happy. it's a must read by the way -- >> i have one more thing to say. >> what's next? >> let me tell you something, i could not believe they started their season against elan. >> seriously? >> great school to go to. >> yeah. >> the fighting thespians. >> northeasterners go there. very hot. >> do you have any stories about amish people in. >> i do. [ kristy ] my mom is well...weird. she won't eat eggs without hot sauce. she has kind of funny looking toes. she's always touching my hair. . ] with advanced technology from ge, now doctors can diagnose diseases like breast cancer on a cellular level. so that women, like kristy's mom, can get personalized treatment that's as unique as she is. [ kristy ] she's definitely not like other moms. yeah, my mom is pretty weird. ♪ yeah, my mom is pretty weird. [ engine revving ] [ male announcer ] you won't find the toughness of a ram 1500 combined with t