but you know, william dudley did come up through the investment banking world. at goldman sachs. the other issue too, we have critics coming in william cohen, former investment bank and author of books about wall street. he is saying it is about time, william cohen saying that to market watch yesterday. you never saw tim geithner be outspoken in his criticisms of wall street. now we have william dudley under fire for waiting so long for making these comments in a speech to nyu law school. other criticism coming in from mr. dudley is this, essentially he is a regulator. if he saw these lapses in regulatory judgment at the big banks why is he waiting now to talk about in his speech? what was he doing as a regulator when we saw the lapses going on at big banks like jpmorgan chase? back to you guys. connell: where have you been all this time. liz, thank you very much. bottom line, liz macdonald. dagen: one of the great american entrepeneurs. he is cocreator of the paul mitchell hair care line. patron tequila. thank him for that too. john paul dejoria is here to tell

first, piercing 1800, neither held it long, though, stocks got an encouraging bit of news by william dudley who says that the banking will strengthen. the jobs pictures will improve and so should consumer spending, but late in the day a wet blanket got tossed, coming by carl icahn. he called some companies' earnings a mirage and says some companies could have a big drop. well, it was not big, but the number did drop after that. the dow surged as much as 67 points higher initially, finallying closing up 13, the nasdaq fell, because of slumping shares of apple. why are some like icahn worried, while others carry on. >> reporter: the first trigger? home sales began around a fresh in this case data around thursday when we get the number, the houses economy will be questioned. also this week, inflation readings, on wednesday it is a consumer price index, and on thursday, producer prices both expected to remain low. if not, and inflation is higher than expected concerns will grow that the fed will be more open to scaling back or tapering its monetary support, another potential catalyst, earnings,

> >i read new york fed president william dudley's speech and from my perspective he was really talking out of both sides of his mouth. he said that he was getting more hopeful but it's very difficult to follow the direction when they're talking on both sides of their mouth. > >we also have chairman ben bernanke speaking tonight. what do you expect will come out of those comments? could that be a market mover? > >lame duck ben...i was thinking can we call bernanke a lame duck now as his term winds up. i have a hard time believing he's going to say a whole lot that's going to move the market. he's at the end of his term. he tends to be very cautious in what he says. so it will probably be a non-event. > >thank you for that update. the midwest is the latest site of deadly storms leaving behind a tragic path of destruction. a reported 80 tornadoes ripped across the illinois killing at least 6 people and wiping out blocks of homes.state farm says more than 1,8000 claims have been filed. the insurance company advises to take photos and save receipts for claim representatives who will be star

that answers now this isn't entirely disparaged because bar did have some conversations with william dudley who recently made a very important speech saying the bank culture needs to change and he and evidently went back and forth on that. speech and they're speaking of a change to the banking culture what about the book or role you know that was supposed to keep banks from gambling with customers deposits of will the final form be anything like what congress intended for it to be. and in terms of the volcker rule did you see that you know it's designed again to keep banks from not gambling with customer deposits do you think that the final form will be anything like what congress intended it to be well we can hope in the interview that we said there's a d.c. quadrant kill place and so one that one points of the d.c. quater kill is when the big banks want to change the rules they do so through one of the points being the wall making process chilton again served and for in this they want the protective regulations in place so that we don't see a tremendous market crash and then another bailo

that answers now this isn't entirely disparaged because mark did have some conversations with william dudley who recently made a very import. speech saying the bank culture needs to change and he evidently went back and forth email on that. speech and they're speaking of a change to the banking culture what about the book or role you know that was supposed to keep banks from gambling with customers deposits of will the final form be anything like what congress intended for it to be. and terms of the volcker rule did you see that you know it's designed again to keep banks from not gambling with customer deposits do you think that the final form will be anything like what congress intended it to be well we can hope in the interview that we said there's a d.c. quadrant kill place and so one of the one points of the d.c. quadric kill is when the big banks want to change the rules they do so through one of the points being the wall making process chilton going serve and for in this they want the protective regulations in place so that we don't see a tremendous market crash and then another bailou

the answers now this isn't entirely disparaged because mark did have some conversations with william dudley who recently made a very important speech saying the bank culture needs to change and he and evidently went back and forth on that. speech and they're speaking of a change to the banking culture what about the book or role you know that was supposed to keep banks from gambling with customers deposits of will the final form be anything like what congress intended for it to be. and terms of the volcker rule did you see that you know it's designed again to keep banks from not gambling with customer deposits do you think that the final form will be anything like what congress intended it to be well we can hope in the interview that we said there's a d.c. quadrant kill place and one of one points of the d.c. quater kill is when the big banks want to change the rules they do so through one of the points being the wall making process chilton again served and for in this they want the protective regulations in place so that we don't see a tremendous market crash and then another bailout what'

we're talking about papering after william dudley spoke and said, hey the economy is doing pretty goodrning upbeat on the economy. a staunch dove. now we could be doing that. that impacted the goldmarkket. it went done even more. can't get a break today. lori: phil flynn, thank you. >> thank you. >> bad kid stole our hearts last week when he ascended on san francisco and rescued the city from the pen beginning and rid letter and now you have a chance to dress like him and support the foundation that made it all possible. the son of san francisco's police chief designed batkid shirts for the occasion. sold 1800 of them, and sold all the proceeds to the make-a-wish foundation. shirts are available for preorder online, for pickup in san francisco. the company currently working on shipping for fans who live outside the bay area. lori: whole story renews your faith in humanity. so touching, to see the little kid, five-year-old boy, running through san francisco. whole city was rooting for you. dennis: can you imagine what that felt like for the guy? good for him. >> with major market averag