the sec. of racial row last june. it's also incumbent to clearly articulate a problem for a market failure rules intended to address which would be obvious, but it's still unfortunately lacking in many of the rules that have been implemented. and eager to come here today to hear about the steps taken to further improve the economic analysis. i also continued concerns over recent rulemaking to credit rating agencies. broad agreement and provisions in dodd-frank such as removal of reference to regulations are much needed an address is one of the causes of the financial crisis and worry many other micromanaging rules included in dodd-frank have had the effect of further siphoning competition and credit rating agent industry. i want to thank all the witnesses for the testimony and i yield to the ranking member for five minutes. >> good morning. thank you so much, mr. chairman for holding this important meeting and all of our participants today. this hearing will continue or subcommittee series of oversight hearing on the s

court or the appropriate person inside the sec to verify we've collected the money and then we multiply that against what the percentage of the commission has approved. >> is the sec inspector general, are the office auditing of sense? >> yes. the geo odyssey investor protection fund. >> thank you. >> the gentleman's time is expired. we've been called to those paired with five minutes left on the those numbers not you should run over on passage of the bill. there's only two votes if i'm not mistaken and i believe one or two other members who were here who will be returning after votes for final questioning. your committee is adjourned until it be reconvened immediately after votes. [inaudible conversations] >> afternoon. appreciate the little break. the committee is called back into session and at this time recognize the gentleman from pennsylvania for five minutes. >> thank you, chairman care for permitting me to participate in this hearing. this is a really important hearing. sec oversight of the credit rating agencies in the united states congress over the sec, especially as it relat

these exchanges between the sec and the dol should make for very interesting reading. from your perspective over the past year, sir, from the proposed rule to the recently issued final rule, how well has the department of labor coordinated with the sec? >> we certainly had opportunities to provide technical assistants. i'm familiar with the e-mail you describe because it involved one of my staff. >> yes. >> the staff are from dol had also been a friend and professional acquaintance of this fellow for a while. i think what you're seeing is the combination of a long string of e-mails. the economist can be pretty direct. you know, if somebody says, i understand what you're saying, but it's not applicable to my case, i don't want to hear any more about it. that's kind of the way i interpret that e-mail. >> there were others here, too, and i don't see the department of labor being open to any of your advice from, i think, a very fine office that you run and certainly, you know, i have great concerns, i want the dera to do an analysis and an impact of this dol rule as it sta

the sec had two choices. they could do a choice of the copper industry and the cable industry and video provider on board with a willing to do which would eliminate the box for all practical purposes. or this other approach that didn't which is probably a violation of copyright law, complex and existence -- resistance. what the heck do you think they will do networks not only are they doing to come to cable industry by the copyright people are going to go do. what is the copyright industry says you can't give this information to a third party? you can't. what does the sec program going to do, mandate that you didn't get a third party as a video provider? is that what is legal to do that? i don't think it is. you are going to run into debt. on the other and we could've gone, chairman of the god of the route and done it. but at a time when we're trying to limit the set-top box, it's almost like we can't eliminate the set-top box because the statute says i to have a market for a set-top box i'm going to force you

the sec has the authority help. what it doesn't have is the will. it is wrong for investors and it's wrong for all of america. we need an sec that will make political spending more transparent. i also want to add that i have serious concerns about this nomination based on her views about dodd-frank. i think it's dangerous to put anyone in an sec commissioner position, someone who will have to implement and enforce the law that seems to be so adamantly opposed to the financial reforms that congress put in place in the 2008 financial crisis. we saw what happened the last time we deregulated the industry paid the price tag was enormous. $14 trillion according to the dallas fed. we cannot go back there, not now, not ever. >> let's vote. the nominations on blog. those in favor say aye. those opposed saying nay. the nays have it -- the ayes have it, the nomination is agreed to. >> i want to be reported as no on the other --. >> the senator of new york no. >> i'm from massachusetts. >> and we feel strongly about this. >> she is probably a red socks fan. >>

tech veteran mark cuban no stranger to controversy with the sec and joins us on the phone to discussew concerns with silicon valley. mr. cuban, thank you for phoning in. are they overstepping? >> it's not so much they are overstepping the bounds but doing what they do, 100 degrees of gray. there's no clarity and where there's no clarity and certainty what to do in response to the sec, you get -- people doing nothing or people avoiding going public or doing anything to avoid dealing with the sec and that's a real problem for up and coming companies and problem for the economy as well. >> would you agree with her characteristic of silicon valley companies need to be more transparent, et cetera? >> they are private companies, what do they need to be more transparent about? they are not selling shares to the public. there are secondary market shares being sold but if the sec is concerned, pass rule soz we know what they are and can adhere to them. where they always go wrong, everything is very open ended and nobody knows what the rules are. in you don't know what the rules are it gives t

the pkk. is that true? sec. carter: yes, we have -- >> is the pkk a terrorist organization in the eyes of the turkish government? sec. carter: the pkk is a terrorist organization not only in the eyes of the turkish government but in the eyes of the u.s. government as well, senator. >> is it a surprise to you that the turks may be upset to us by arming the ypg in syria since they're closely aligned with the pkk? sec. carter: no, it's not at all, sir. we have -- let me just say that, and the chairman has been involved in this as well. we have extensive consultations with the turks. >> so turkey is ok with this? sec. carter: they're not ok with that -- >> i just got back from turkey. they're not ok with this. they think this is the dumbest idea in the world and i agree with them. had how many of the syrian forces are kurds versus arab? gen. dunford: about 6,000 arabs. >> what percentage of the force is that? gen. dunford: that's about 20%. >> ok. so if you're wondering why turkey is a little upset we're arming peopl

where is the friction? sec. mcdonald: you're absolutely right. you say what happened in 2014 that created the crisis, it was a mismatch of supply and demand. congress passes the laws that provide that if it's for veterans. congress passes the budget that provides the means of meeting those laws and providing those benefits. when those two don't match, you have a serious problem. what i have tried to do is we have been clear -- we've done the deep business analysis -- the problems in 2014 were not because of the wars in afghanistan and iraq. it was because of the aging of the veteran population. the year i graduated from west point, 2 million veterans were over the age of 65. we are the canary in the coal mine for american medicine. we see it for they occur. the aging of the veterans population was one of the biggest issues that created that demand. the other issue, survivability on the battlefield, 10 times more likely to survive the battlefield. agent orange, things like posttraumatic stress and brain injury, things we did not know about, we are

will the president be making that decision? sec. carter: i think the president will be making that decision. he has expressed a willingness to adjust to circumstances there and to ensure the success. chairman mccain: you agree it is important our allies know that? sec. carter: i do. chairman mccain: i apologize to the committee for overstaying my time. >> in this complex region, ometimes with difficulties with our allies and turkey has been both a supporter and also someone who has not been completely cooperative. can you comment on what you would like them to do more and what they are capable to o? sec. carter: thanks, and it is a timely question. by dint of geography they are the single most important of the nato question family of countries that can have an influence on the situation in syria. they are doing more, and i am grateful for the are doing along the border. they're helping us to operate n some ways i can go into. and, i am very grateful for that. i would like them to do more. i wanted them to do more for some time. but w

the sec ruling came out saying that it would been raising outlying capital. : let's check out nestle. today's first-quarter estimates beat estimate. the first quarter growth rate is the slowest since 2009. the world's biggest food company is struggling to get consumers interested in frozen pizzas and convenience meal. let's bring in matthew boyle who covers european consumer stock. growth --h the slowest matthew: yes, the slowest growth since 2009 but the most interesting figure was there pricing. the pricing was the lowest in 10 years. which basically means that nestle is going to walmart and saying, we are raising the prices of our ice cream and they are saying no. we can't. that is not happening. so that is what really is constraining the growth. mark: isn't there a view that arees for the raw material at the bottom, which might give it some ability to boost prices? matthew: they might. it depends on whether they will be passing those along to consumers. so palm oil is a huge commodity and it is at a low. will be passing those along to consumers. so palm oi

who has worked with the sec with regard to this type of incident. ayman, the question becomes twloo this has happened in the past, can it happen in the future, and what is unique about this story? >> on this particular question i talked to the sec. they say they have no comment on what is happening here. remember, just last year we did see a case where there was a fake takeover bid for avon that was an sec filing. what we learned in covering that case is it's easier to file documents on the sec's so-called edgar document disclosure system than you might think. a lot of people can get access to that system by getting the sec id number and filing documents as they like. what the sec said was it's on the filings to make sure the information they put out there is factual and truthful. the sec has no way to fact check all the documents going out in real time. otherwise they would slow down the disclosure process. the sec said in the past it's up to the filers to make sure the information is accurate. >> we have seen fake bids before. people tend to trade

the pkk. is that true? sec. carter: yes, we have -- graham: is the pkk a terrorist organization in the eyes of the turkish government? sec. carter: they are, and they terrorist organization in the eyes of the united states government as well. been involvedas in this as well, and we have extensive consultation with the turks. is turkey ok with this? they are not ok with this. they think this is the dumbest idea in the world and i agree with them. how many democratic forces or whatever that we are talk about, are out there? gen. dunford: there are about 6000 arabs, senator. mr. graham: what is the percentage? 20%.dunford: that is about mr. graham: if you wonder why turkey is a little upset, we are arming people inside of syria aligned with a terrorist group and turkey could do more, but i think this whole concept is , quite frankly, absurd. i just got back from saudi arabia, and they are not going into syria as long as they think assad is going to win. have they ever expressed to you their displeasure in regards to

he talks about issues facing the sec including neutrality, expansion of the subsidized phone program to the internet, regulation of the internet and privacy in the spectrum incentive option that is just beginning. mr. wheeler discusses how he views the future of telecom and the internet. he is joined by technology reporter for the washington post. involved,ble to be they were bringing great change to the american economy and the way people live their lives. that is what we are dealing with at the sec because we are dealing with one of the great revolutions of all time. our job is to say, ok, how do we deal with the kind of changes that are happening all around us as a result of the new technology? >> watch the communicators monday night at 8:00 eastern. >> each week, american history america" brings you archival films. ♪ >> beautification is far more than a matter of cosmetics. to me, it describes the whole effort to bring the natural world and the man-made world into harmony, to bring youthfulness, delight to our whole environment. ♪ on march 9, 1965 mrs. johnson said out the first

ahead, first the fda and now the sec and we have the latest in a string of damaging revelations for thertup theranos. ♪ thank you. ordering chinese food is a very predictable experience. i order b14. i get b14. no surprises. buying business internet, on the other hand, can be a roller coaster white knuckle thrill ride. you're promised one speed. but do you consistently get it? you do with comcast business. it's reliable. just like kung pao fish. thank you, ping. reliably fast internet starts at $59.95 a month. comcast business. built for business. shoshow me more like this.e. show me "previously watched." what's recommended for me. x1 makes it easy to find what you love. call or go online and switch to x1. only with xfinity. scarlet: from bloomberg world headquarters in new york, you are watching bloomberg markets. alix: let's start with the headlines. donald trump is counting on his home state to provide a rig bone to his nomination. the polls show him with a double-digit lead over ted cruz and john kasich in the new york primary. a win would give him momentum going into five key north

must experience its leadership role to develop up policies enough front men and then pick those up the sec can the federal government must help tip accelerate those game changing benefits. moving the proposed vehicle to vehicle roll will create the interoperable standard so all cars can communicate with each other in the infrastructure to warn drivers of dangers and avoid crashes after significant investment of public and private is tested on public roads and is ready for widespread deployment. government support should ensure the vehicle standard is established and access to the dedicated spectrum is maintained with a clear rule innovation will flourish. we are creating tremendous benefits i believe that collaboration that the benefits reach consumers there is no one single approach so let's work together to use the right tools in the right way. i look forward to your questions. >> i appreciate the opportunity to testify before you today. and the area dedicated to the realization of the original automotive parts that 4500 recyclers to not and they continue to operate longer then intended.

dumping more money isn't the only answer. sec. mcdonald: you are right. the house appropriations committee cut from the request about $1.5 billion, which seems like a small percentage but is still money we need to serve veterans. senate, in contrast, passed a budget with agrees with the president's budget. we are very encouraged by that. what we have submitted as a budget is what is needed to care for veterans. suggestingin any way that less is ok. as we put these budgets together over time, we have gone as far as to put in their what productivity measures we are taking. productivity measures are we taking to turn up money so we don't need to request it? one of the 12 rake through therities is to establish spiked chain. believe it or not, we do not have a consolidated spy chain. we have it for our pharmacy and not surprisingly, we have the .est rated chain in the country but we do not have it in the operations field. if we can get the laws we need and budget we need, we will turn up at least $150 million year in savings we can use for other things with vet

that is what the sec has noticed -- fcc has noticed. for the first time they're asking questions about how are these programs bundled? what are the requirements that operators deal with. how can independent programmers have more of an impact eating their channels -- programming on the channels. bob: consumer choice and being able to pay for what you want is probably the number one consumer client or question about television. they say, i cannot afford this much. i don't watch most of these channels, why can i not just by what i want, pay for what i want , and take the rest of the stuff away for me? as cable operators and local operators who really are concerned about consumers, we would be fine to deliver that. we simply cannot do that because of the restrictive contracts required by the content providers. espn and youere an said, no we will not carry, we cannot afford it. i would say, some of the big guys can. i will say goodbye to those 40,000 customers and not worry bob: there have been cases where a number of our members have dropped

the sec has the authority to help. what it does not have is the will. this is wrong. it is wrong for investors and all of america. we need an sec that will make spending more transparent. i have concerns about ms. purse's nomination based on her views about dodd frank. it is dangerous to put anyone in a commissioner position, someone who will have to implement and enforce the law, who seems to be adamantly opposed to the financial reforms that congress put in place in the 2008 financial crisis. we saw what happened the last time we deregulated the industry. the price tag was enormous. we cannot go back there. not now, not ever. >> let's vote. those in favor, say aye. the nomination is agreed to. >> i want to be recorded as no. >> senator of new york, no. >> same. >> i am from massachusetts. [laughter] we feel strongly about this. >> she is probably a red sox fan. >> eat your heart out. >> you cannot do that. >> you are either no on all of them or yes on all of them. >> no on all of them. >> we might need a recorded vote. if that is what people want. do you want to do i

this is what the sec took many years looking at. ry jo white said if we restrict choice and raise cost, that is not what we want to do. at the end of the day, the industry has been in favor of a uniform fiduciary standard when providing personal investment advice. we just think the way the department what about it would have unintended consequences. david: people who do not will sayd these rules i want my broker to be acting in my best interest. this rule appears to be doing that. rule limits what you can invest in, limit your choice of how you want to buy services, investors may not like that as well. those are the issues we try to raise with the department. on one account, it is my all of itary account, is retirement at the end of the day, one may be taxable and another is not. that could create some confusion. david: do you think there will be followed from here? >> it could create compliance issues for her. they have to create metrics to go across the industry. , i issue with the secretary take issue with how this was portrayed a

policy studies and mark cooper, research director for the consumer federation of america, debate the sec'sroposal allowing consumers to buy their own set-top boxes instead of renting them from providers, a move to open up competition in the set-top box market. they are joined by the telecommunications reporter for bloomberg be in a. >> we think competition in the set-top box market, the 96 act that would want competition, some places it has worked in some places it has not. this is one place where it really hasn't. consumers could have lower prices and more choices if we got some vigorous competition. >> the first question is, is there a market for set-top boxes and the answer in terms of what is delivered over the cable network is no because a set-top box is a component of the network. that is the most efficient way to design and deliver cable television service, so it is the cheapest and most efficient way to do it. the companies would prefer a market if it was more efficient. >> watch the communicators tonight at 8:00 eastern on c-span two. get as morning, we preview and take your calls

>> guest: golly, i've been hanging around the sec as you indicated for like 40 years. it's changed multiple times over those decades. i hope it continues to evolve. the job of the fcc is to be the advocate for consumers in a vast, a vastly changing environment. >> the open internet order, in particular with regard to the general conducts standard, you have essentially, we've seen a lot of questions bubble up about this program that the company has come up with what the program that the companies come out with. hasn't the fcc just put itself in a position of having to have a position on every single thing that comes up when it comes to new internet business models? doesn't that create the opportunity for inconsistent rulings and precedents that could allow certain behaviors to get through a loophole? >> guest: that's a good question, but what we've tried to do is just the opposite, is not to be judgmental. we tried, just to become utah has the fcc changed. when i first got involved at the fcc, it was very directional and detailed. you will do this. we will look at your b

. >> high diesel that it has been investigated by congress and the sec? doesn't go away? what cheaper the price. i will tell you a funny story. 2003, the bernstein decisions conference in new york, i went into a meeting run by joe not show, who went to jail, the company were being investigated by the sec. the accountants said there financials could no longer be relied on. there was one other person in , weroom, a friend of mine sit in the front row and there are two of us. joe looks at us and says, i can't take any questions. you can't rely on our financials, but i can tell you what our business is. we nodded and jeremy looked at me and said, this cannot be any better. there is nothing that can go wrong that has not already gone wrong. -- it is goodat that no one is interested in this company and we made five times our money. >> what about the corporate loans and the bonds issued by valeant? good think those are money and bought those in our income fund and showing a profit. >> you have written previously that successful investing involves the discipline and patient execut

the sec was concerned that the people who conducted the study at o.f.r., quote, lacked a fundamental understanding of the fund industry itself, end quote. the treasuries research armed to take a number of the sec's critical feed back into account. thus, the sec created its own comment period for the report. better markets a group that regularly advocates for increased government regulation actually criticized the o.f.r. for the poor quality of the work presented in the report. despite all of this and the fact that congressman frank has also condemned the idea of designating asset managers, many fear the f sock will move next with a sifi designation. for these reasons i believe it's critical we pass the act. it's crucial for the f sock and o.f.r. to be more transparent and accountable to the american people. -- fsoc and o.f.r. to be more transparent and accountable to the american people. allowing americans to weigh in on o.f.r. rules and regulations gives congress the tools it needs to provide the proper oversight of fsoc and o.f.r. now, some may argue that congress should just trust

they are admitting they are under investigation by the sec and the u.s. attorney's office. she says she is devastated by the problem at her blood testing labs. there were promises that her company is going to survive. from bloomberg world headquarters in new york, we are about 30 minutes into the trading session. i want to head to the markets desk where julie hyman is. it has been a mixed bag of earnings. we are at the hyatt the market. julie: we are at the high this session. that is partly because of earnings, partly because of a rally in energy and material stocks. those are the best performance rear watching today. the nasdaq is lower at the moment. the s&p and dow are holding on to their gain. the dow extending gains from yesterday, a nine-month high. the nasdaq was at the highest of the year as well. it had paired its declines for the year to less than 2%. you can see it is lower today. it is now down a little more than 1% on the year. the s&p and dow are higher and that climb is building. we should point out if you look at the s&p by a couple of other measures includi

that we have no weighty and the capital cost that will take away by the end investment that that sec is one of the most important things they want them to do. we don't believe it is sensible rule making and frankly looking at the impact once again to have that disproportionate impact and said this is not a good idea at. >> host: why can somebody have that the app? >> door around the corner here they have a nice exhibit of four or five different commercially available set top box that run app apple tv, game consoles, a smart tv, comcast all of those represent a new way of watching television on and connected devices. but there isn't a government mandated standard of which to do that. but there was a that and tall last year rencontre said do away with that it isn't working. but to be a continuation of an effort to of the technology platform. >> rather they and unlocking the box we agreed that consumers say they don't even want a box. they are providing choice through the competitive set top boxes are your choices about which to purchase and then coming back to the customer with that re

to say ok,the sec is had we do with the kind of changes that are happening all around us as a result of the new technology. >> watch monday night at 8:00 eastern on c-span2.

the sec has the authority to help. what it doesn't have is the will. is wrong for investors and all of america. we need an sec that will make spending more transparent. i also want to add that i have serious concerns about this nomination based on her stated views about dodd frank. i think it is dangerous to put anyone in a commissioner position. someone who will have to implement and enforce the law who seems to be so adamantly opposed to the financial reforms that congress put in place. we saw what happened. the last time we deregulated the industry, the price tag was enormous. $14 trillion according to the fed. we cannot go back there. not now, not ever. >> next vote. those in favor, say aye. those opposed say nay? the nays have it. >> i want to be recorded as no. >> recorded as no? no, senator. >> i'm from massachusetts. we feel strongly about this. >> probably a red sox fan. >> eat your heart out. >>> you can't do that. >> you are either no or yes. >> i will explain why i voted no. >> we might just need it to record. that's what you want to do it

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carson whens, he is the eagles target the sec overall pick in the draft. ron jaworsky recently went to north dakota to learn more about him and came back with a positive impression. >> you see the power on tape, but you want to hear what is on his mind and in his heart. i when out there and talked to him and his coaches and fans and tem mates, and i did not hear a negative thing about this young man. a family guy and a faith based guy. the 15th highest score ever recorded and his grade point average is 4.0. all the boxes are checked. >> all right to baseball now, vince valesquez takes the mound for the phillies in d.c. the last time he was on the mound they lost 15-5. the coach and scott mclure need a better approach with harper this time around. >> i have a theory on how we should pitch him. i talked to mcclure about that and see how it works out. throw the fastball down the middle and see what happeneds. >> please don't do that. >>> the flyers will have to decide who the number one goalie will be? >> i never look at myself as a backup. i saw a good oppor

where is the friction? sec. mcdonald: you're absolutely right. if you say what happened in 2014 that created the crisis, it was a mismatch of supply and demand. remember, congress passes the laws that provide benefits for veterans. congress passes the budget that provides the means of meeting those laws to provide those benefits. when those two don't match, you have a serious problem. what i have tried to do is we have been clear -- we've done the deep business analysis -- the problems in 2014 were not because of the wars in afghanistan and iraq. it was because of the aging of he veteran population. 1975, the year i graduated from west point, 2 million veterans were over the age of 65. in 2017, 10 million veterans will be over the age of 65. we are the canary in the coal mine for american medicine. we see the problems that are going to occur in the united states in medicine before they occur. the aging of the veterans population was one of the biggest issues that created that demand. the other issue, survivability on the battlefield, 10 times more

serabeing investigated by the sec and federal prosecutors. eranos -- the country has been investigated by multiple health authorities. there have been reports that technology may not work for it. , the world'sflix network, reports slower earnings, especially outside the u.s. that is your bloomberg business flash. jon: thank you very much, vonnie quinn. throughout a decade of isolation, argentina plans to sell as much as $15 billion in bonds today, the biggest emerging market offering debt sale since at least 1999. the money will help pay $10 billion to creditors. we bring in the emerging markets reporter, catch up with the can skate. porzecanski.a also, savita subramanian. how do we expect -- katia: they are building at a nice curve. year, ahave a three five year, a 10 year, and a 30 year. we do not know how much they are selling, but basically the pricing will be on the low handle for the five and a three-year, up to about 8% for the 30-year. they have to issue a lot because they have to build out the curve . they do not have a curve right no

american economy and the way that people live their their lives that is what we are dealing with the sec. we are dealing with the great network revolutions full-time is to say how are we dealing with the changes that are happening around us as a result? monday night communicators on c-span two. american history tv brings you all credible coverage of presidential riches. -- archival coverage of the presidential races. just days ahead of the new york primary, tor

the whole time. were they not awesome? they were terrific. [applause] sec. the bat, speaker ryan, thank you for hosting us, and to all the national political leaders, thank you for your leadership to make this a reality. [applause] and of course, the other speakers i want to echo the remarks that there are some great military leaders here in our presence. we have the adjutant general of puerto rico, we thank you for your leadership. [applause] it's a historic year for the army. we had three women graduate from ranger school. there's a great general officer right there one of the mentors to this next generation. so thank you so much, ma'am. [applause] sec. murphy: we also have the vice chief of staff, general dan allen that is here. [applause] sec. murphy: and general tim cassidy who is head of our , reserves. so thank you so much, general. [applause] sec. murphy: now, we are here to recognize the borinqueneers for their time in korea, they have led in so many efforts for our nations. with two members of congress that are also korean war veterans. congressman

and the sec's plan to open up the market for companies to build or sell set-top boxes. and the regulation of the internet. and all of their networks will require that they be carried on the most widely distributed level of service, and so does everybody else. is thise end up with bundle of bundles that everybody has to take, and as an operator, i would love to desegregate that bundled and sold to people as they wish. most consumers don't recognize that if that happens, the price of the individual channels or even the bundle of channels is going to skyrocket. consumers said they do not even want a box. the effect is our members are providing choice through competitive set-top boxes, through apps, through giving consumers choices about with -- which box to purchase. being part of that relationship with the customer to determine what is this that they want most and how can we can ride it -- provide it? [captions copyright national cable satellite corp. 2016] [captioning performed by the national captioning institute, which is responsible for its caption content and accurac

the sec year in a row aaron gilchrist emceed the event. congratulations to all of them tonight. >> good program helping kids get in to college. >> that will do it for us. "the tonight show" with jimmy fallon is coming up next. >> hope to see you tomorrow. gad night. if yit's usually because you were driving too fast or you didn't look before you turned or you didn't stop for someone in the crosswalk. always be alert. pedestrians don't come with airbags. [ cheers and applause ] ♪ >> steve: from studio 6b in rockefeller center in the heart of new york city, it's "the tonight show starring jimmy fallon." tonight, join jimmy and his guests -- matt lauer, gisele bundchen, musil

the sec to its credit has undertaken of rulemaking to bring greater balance so consumers are not part by the prime -- the blackouts by broadcasters we should see something over the next couple months that prohibits the on line blocking and online content as a result of free transmission consent or pulling it right before a big event like the oscars or the super bowl or march madness and other sensible ideas to create balance to get consumers out of the middle. we have talked about that and will continue until we get the problem fixed. >> does that keep you up at night? >> yes. because there is absolutely no leverage when it comes to the broadcast television network. >> we pretend to negotiate. we go back and forth a few times but they say "this is it" take-it-or-leave-it. it does keep me at night not because of the negotiations but the impact it will have on my customers when they wake up january 1st and a television station is missing and i have no option to negotiate with another station of the same network because of what has been created by the broadcast network. >> host: is there

it's a tradition for the sec conference. ot the chip went in for the dip and had a hissy-fit as a result because it is just that good. and here to share it with us is miss jessica horde. >> miss resident rapper. >> where's the whole crock pot? >> so good! >> this is the dip, charity. now you need a chip. >> do it! so good. >> this is, essentially, an idiot-proof recipe because you chuck it all in the crockpot and it does it for you. >> exactly. at the end you have to stir it. it does have different cheeses in it. i like it, there's cream cheese, munster cheese and velveeta. >> this is a lot cremier, richer, a lot more to it. >> and the sausage just kicks it off. it's really good. >> this is killer. >> that's good. >> this could be one of your best. >> you have about five minutes before a hissy-fit comes. >> if you guys want to make this at home, go to our website, rightthisminute.com and click on tv show or go to our mobile app. >>> this guy's teaching these dogs to fly. >> do not tell him to roll over. >> they trained for fo

. >> a long 37 year career as regulator and with the sec and nasdaq since 2009, chairman, thanks for ing us. that is a long time. >> it is. >> everybody says the markets are too fragment and too complex. and some even saying it's been broken. you're the chief regulator here. what's your view how the markets are operating today? >> they are not broken. they are not rigged. in a variety of ways i'm a data guy, when you look at the data, this for long time investors is a good market from the standpoint of the cost of doing business. they are fragile because of the changes in the fragmentation and the high frequency trading that exists here. and they are susceptible to different types of manipulation. when we started this thing, used to have a specialist down here few firms upstairs that might back the market. that's spread across and people around the world have the ability to trade and impact pricing, it's a different challenge for manipulation and errors and with respect to periods of short term volatility. but those are problems that can be addressed and we're very much involved in ad

that is the of -- sec. king: that is the approach from the outset, the comments from nearly 1000 individuals and organizations. we held two public hearings. sessions,ld listening and we will continue to do so in the rulemaking process, 200 process, the diversity of and we urged states as they begin their process of developing state approaches to implementing, we encourage states to make sure they have robust stakeholder engagement and i think that is what we are seeing, states beginning the process of engaging with a diversity of interests within their state. sen. murray: your hearing back as you move forward on this? of the comments are on what areas require further clarity and guidance. areasdevelop identified for negotiated rulemaking or regulation or for guidance, it has an responsive to the feedback we have received. we heard a lot of enthusiasm about the potential for the new law to advance excellence, but also a concern to make sure there are federal guardrails to protect civil rights. sen. murray: th

. >> that is not with the sec is doing -- scc is saying to do. >> you did not offer it. >> i don't offer anything. >> they did not offer an open interface. >> if they said, here is my app, the comcastku, hit app, you can do what you want. you cannot. that is what you cannot do. manipulate theo signal. most: one of the criticized aspects of the proposed rule is it is not clear how copyright holders with a -- would enforce the copyright if a third party were to either change the program neighborhood, where it says in relation to other channels, or certain types of content -- non-family-friendly content on top of a disney program, disney might not like, and they enforced through the contract. could you describe a little bit proposed. the fcc has self regime.e a they say if there is a violation, they can turn off the device. the pay industry says that harms the consumer. if the fcc rolled out a program where you have to have permission -- you know they would. there is a system. wi-fi, if they had a civil procedure -- simple procedure where the devices intended for certain things, they would

the chairman of the sec sent the deal to his fellow commissioners, two democrats and two republicans.l be some talking and we will see when it gets three votes. emily: todd shields in washington. "bloomberg news." thank you for weighing in. joined by roger withho joines three days to go for the draft. if you happened to catch the season three premiere of "silicon valley," you might recognize a few familiar faces. jumped 7% on the news that gavin bell is writing down the entire nucleus project. what happened? >> it was a courageous move and he is a straight shooter and wall street is responding to that. emily: don't think that brad stone and i will try to quit our jobs anytime soon, but it was great fun to work with the team at hbo. if you get behind the scenes content on youtube if you want to continue laughing at us. ♪ emily: a story that we are geeking out about, nasa is heralding a new generation of x planes. that's the name given to experimental aircraft meant solely for research. these concept, designs have meant some of the biggest strides forward in aviation. last year, na

there is one person devoting half his time at the sec to this market the last time i checked which wasut one year ago. markets of the hottest in the world and we have one guy devoting half his time to it. scarlet: what kind of step of scrutiny do you expect from regulators? there has been some work on this about the biggest ,orporate on deal of the day where you have an investor quoted in that article saying we got shut out of a $49 billion deal. we were told we needed to do more business with the deal to get more allocation. if that doesn't get them to come to the new allocation market, i don't know what will. at the end of the day, someone has to be injured by this process and those who are being shut out need to rally their voices. alix: thank you very much. scarlet: we have breaking news on mcdonald's saint andrew mckenna will retire as chairman of the board. the nine -- the nonexecutive chairman has been nonexecutive chairman since 2004 and will step down on may 26. mcdonald's will name a new chairman following its annual meeting. fed president james bullard will talk to bloomberg

. >> pam: could say this pedal border the sec and state and all. he's a >> grant: its ultimate wasn't scared. . and was on his lunch break pedal boarding. iin 25 feet turn right.. turn right now. recalculating... ♪ ♪ ♪ ♪ so i spent the night at todd's. you remember todd, right? the bass player with the big hands. big nimble hands. angela, i'm trying to piece together a skull. you're doing a great job. so i wake up this morning and he's sitting there, right? no clothes on, just his bass, singing to me in this low, low voice... it was creepy. angela, is this conversation really appropriate here? sorry, but i'm into alive people. anyway, todd has a friend... thought you said he was creepy. todd. not the friend. good news. i hope this is work-related. the anthropology journal is publishing our piece on the evolution of the coronal suture. brennan: a worthy interruption. you're supposed to bump my fist with yours. why?

viban, the solar canceled the deal to file extension 2015 report with the sec. uring an earning's call last november sunedison reported it has 1.4 billion in cash and sufficient liquidity to cover debt, sunedison was roughly $10 billion but the stock has absolutely crashed and sunedison market cap on friday was around $170 million. sunedison like other renewable energy firms has received tax subsidies and grants from the u.s. and state governments which total about four and a half million dollars. nicole, cheryl, back to you. cheryl: here are the headlines.. the staggering figure could represent evolution for tesla and electric cars. and why the iphone breach is a win for users. experts say that lawful hacking makes software for secure. the debate continues. nicole: inside the new tesla is going to feel like a spaceship. coming up the american country awards. rock las vegas. ♪ ♪ ♪ nicole: we will have the winner and first passenger air flight takeoff in brussels sinister risk attacks. highest levels on friday and s&p futures up 24 you're watching fbn:am, first lo

we'll continue to watch what happens. >>> we talked earlier about the sec needing more funds to have -- >> let's not rush to judgment. that warehouse could be legit. >> amazon started in a garage. >> the stocks are at session highs. it has taken a will it of time today for them to get going. certainly as oil ramped up and wti went positive, it's high eggs level of 2016, the overall market has ramped up as well. joe, you think it could have staying power. >> i think it can. i think it's going to be the conversation of financial institution earnings in the next couple of days. >> j.p. morgan tomorrow morning. >> right. >> that's going to be big. give us a picture what the financials are looking at even though they are not expected to be such great reports. "power lunch" is all over the markets as usual. highs of the day. that show begins now. >>>well to "power lunch," along with melissa lee, brian sullivan, i'm michelle caruso-cabrera, tyler is off today. let's look at the markets. the major indexes on the up side. the dow jones up 152 points, the s&p 500 by 17, and the nasdaq higher b

the internet just went down. huh, why don't you give it a sec, it'll come back. happened in the world and we have no idea what it was. get high speed internet from at&t with 99.9% reliability for just $30 a month. keep calm, your internet's on. with 99.9% reliability for just $30 a month. ♪ ♪ >>marty gonzales: that is the one man decided to do and york this with the rest of unveiled the piece of box peace and it is surrounded by scores shaped dough the crevices he thought of the idea because he will board he did mention does agree with that on a few callers it is the endangered species educational hike in pacifica. ♪ ♪ take any day, and squeeze some magic into it. ♪ ♪ >>reporter: notice all of these arrows of pointing or coming from the northern direction temperatures and not one to reflect that this optimal use a check with the forecast as we watched the numbers go into motion by 1:00 this after the advisory. >>reporter: on the bay side of the slack mid to upper '70's approaching with head-on saw the the south with this when numbers pop you can expect better than

the fed and the sec are expected to follow. the hacking a terrorist iphone was worth it. the director admits it wasn't cheap, with the bill totaling more than seven years of his salary. was $183,000.ear breaking into the phone cost more than $1.3 million. singapore managing authority confirming that it is investigating possible breaches of regulations, seizing documents from brokerages. of brokerages were rated by authorities on monday, and several people were taken in for questioning. the brokerages named have declined to comment. , new energy rivals distancing themselves from the collapse of sun edison, saying the largest bankruptcy in the u.s. this year will not harm the industry. producer largest seeking protection after racking up liabilities. it is a crowded list of bankruptcies here, isn't it? >> certainly. you have a company that had $11.7 billion in debt, up from $29 million in debt in 2009, in a field, as with many other assets that we deal with, able to borrow money, now coming back to raised. $11 billion from peabod