none of that happened under mary shapiro owe. that's why her tenure at the sec, a disaster. she will be comfortable. as i said, soft landing. >> in broader american politics, if you're trying to understand the enthusiasm for people like elizabeth warren, ed marquee has taken a hard issue. this is why. there's a hunger for an emerging, progressive attitude towards these things that is much sharper elbow than we've been getting. >> simplicity and clarity of purpose. >> and the public interest is invaluable. eliot spitzer, thank you for being here. good to see you. >> thank you. >>> more to report on the arkansas oil spill. on the special election in south carolina and on that insane situation in texas involving the murder of the assistant district attorney and attorney. lots ahead. stay with us. >> announcer: an important free offer for men with balding or thinning hair. >> i'm happy with e way i look now. >> with his hair now, it's just this new-found confidence and there's a glow aboutim you just can't match. >> announcer: men, no diet, no exercise program, no new set of clo

none of that happened under mary shapiro owe. that's why her tenure at the sec, a disaster. she will be comfortable. as i said, soft landing. >> in broader american politics, if you're trying to understand the enthusiasm for people like elizabeth warren, ed marquee has taken a hard issue. this is why. there's a hunger for an emerging, progressive attitude towards these things that is much sharper elbow than we've been getting. >> simplicity and clarity of purpose. >> and the public interest is invaluable. eliot spitzer, thank you for being here. good to see you. >> thank you. >>> more to report on the arkansas oil spill. on the special election in south carolina and on that insane situation in texas involving the murder of the assistant district attorney and attorney. lots ahead. stay with us. you hardly know i exist. that's too bad. 'cuz if my pressure relief valve gets stuck... [ booooooom! ] ...we hot water heaters can transform into rocket propelled wrecking balls. and if you got the wrong home insurance coverage, it's your bank account that might explode. so get allstat

none of that happened under mary shapiro owe. that's why her tenure at the sec, a disaster. she will be comfortable. as i said, soft landing. >> in broader american politics, if you're trying to understand the enthusiasm for people like elizabeth warren, ed marquee has taken a hard issue. this is why. there's a hunger for an emerging, progressive attitude towards these things that is much sharper elbow than we've been getting. >> simplicity and clarity of purpose. >> and the public interest is invaluable. eliot spitzer, thank you for being here. good to see you. >> thank you. >>> more to report on the arkansas oil spill. on the special election in south carolina and on that insane situation in texas involving the murder of the assistant district attorney and attorney. lots ahead. stay with us. i don't like to golf. i love to golf. ♪ [ grunts ] yowza! that's why i eat belvita at breakfast. it's made with delicious ingredients and carefully baked to release steady energy that lasts... we are golfing now, buddy! [ grunts ] ...all morning long. i got it! for the win! uno mas!

and its defense it's all leadership change mary mary shapiro stepped down now that white has come in well mary shapiro's said that she did not want to be tagged with an investor legacy and then so hurt her it from a position comes and her interim chairwoman comes and she's dragged in front of congress and congress says to her why are you dragging your feet and then we have this new chairman and she's this new chairwoman says that well we have to do this now so suddenly it's in the balls court of the f.c.c. to implement these new rules and this has to do with the creation of an opportunity for business to raise capital that in the private markets through general solicitation there's a lot of questions with this rule so we will say that mary jo white once opposed the rules through and then deal with them better protections later however. i don't know if the rule even protects investors or not well that's that's up for debate because the funny thing about this rule is that when it comes to raising capital in the private markets when you have a general solicitation you can advertise on t

shapiro former chairwoman of the securities and exchange commission and stepped down from her post for a cushy new job position on general electric's board of directors these of course are just a few of the countless examples of this public private trading of influence so i hope we talk about a few more example of the revolving door and why you should. hear about the sketchy practice i'm joined now by rachel curtis our producer. so aside from all these examples that i just mentioned i mean this is more prevalent than ever before of course and in the land of d.c.t. which is like what i like to call it when obama got elected originally so that he would not have any lobbyists on his cabinet of course we know that that's not the case let's go over just a few people. that we haven't talked about yet burwell yet sylvia burwell is still waiting to join the cabinet she is the nominee for the office of management and the budget which means essentially she's in charge of allocating all of the money in our government which is you know a pretty hefty task if you ask me so she was in government onc

shapiro former chairwoman of the securities and exchange commission and stepped down from her post for a cushy new job position and general electric's board of directors these of course are just a few of the countless examples of this public private trading of influence so i hope we talk about a few more examples the revolving door and why you should care about the sketchy practice i'm joined now by rachel curtis r.t. producer not too much so aside from all these examples that i just mentioned i mean this is more prevalent than ever before of course and in the land of d.c.t. which is like what i like to call it when obama got elected originally so that he would not have any lobbyists on his cabinet of course we know that that's not the case let's go over just a few people. that we haven't talked about yet yes will be a burger well yes sylvia burwell is still waiting to join the cabinet she is the nominee for the office of management and the budget which means essentially she's in charge of allocating all of the money in our government which is you know a pretty hefty task if you ask me

shapiro former chairwoman of the securities and exchange commission who stepped down from her post for a cushy new job position and general electric's board of directors these of course are just a few of the countless examples of this public private trading of influence so i hope we talk about a few more examples the revolving door and why you should care about the sketchy practice i'm joined now by rachel curtis or to produce or not to lead so aside from all these examples that i just mentioned i mean this is more prevalent than ever before of course and in the land of d.c.t. which is like what i like to call it were obama got a look. ritually so that he would not have any lobbyists on his cabinet of course we know that that's not the keys let's go over just a few people. that we haven't talked about yet burwell yet so sylvia burwell is still waiting to join the cabinet she is the nominee for the office of management and the budget which means essentially she's in charge of allocating all of the money in our government which is you know a pretty hefty task if you ask me so she was in

shapiro former chairwoman of the securities and exchange commission who stepped down from her post for a cushy new job position on general electric's board of directors these of course are just a few of the countless examples of this public. the private trading of influence so i hope we talk about a few more examples the revolving door and why you should care about the sketchy practice i'm joined now by rachel curtis our producer and that is you know so aside from all these examples that i just mentioned i mean this is more prevalent than ever before of course and in the land of d.c.t. which is like what i like to call it when obama got elected originally so that he would not have any lobbyists on his cabinet of course we know that that's not the case let's go over just a few people. that we haven't talked about yet burwell yet so sylvia burwell is still waiting to join the cabinet she is the nominee for the office of management and the budget which means essentially she's in charge of allocating all of the money in our government which is you know a pretty hefty task if you ask me so

shapiro former chairwoman of the securities and exchange commission and stepped down from her post for a cushy new job position and general electric's board of directors these of course are just a few of the countless examples of this public private trading of influence so i hope we talk about a few more examples the revolving door and why you should care about the sketchy practice i'm joined now by rachel curtis martin producer that is tonight so aside from all these examples that i just mentioned i mean this is more prevalent than ever before of course and in the land of d.c.t. which is like what i like to call it were obama got elected originally so that he would not have any lobbyists on his cabinet of course we know that that's not the case let's go over just a few people. that we haven't talked about yet will be a burger well yes sylvia burwell is still waiting to join the cabinet she is the nominee for the office of management and the budget which means essentially she's in charge of allocating all of the money in our government which is you know a pretty hefty task if you ask m

who gets a job with a major one of these firms who is trying to do this business cannot its mary shapiro, former head of the securities and exchange commission. how convenient. >> obviously there is a lot of back-and-forth. the revolving door goes round and round. mary schapiro said there is no revolving door. i'm not going back to government. maybe the big reason is because they do not pay as much. there has been a lot of people from the sec and other regulators going, and they do good work. it is very close with the government. we refer to them as shadow regulators. when you have this sort of relationship or with also the big accounting firms, of course price waterhouse coopers, also doing this work, there are only so many. you cannot newt them. there are very close to the regulators that they are supposed to be -- gerri: our viewers are looking at a full screen right here of what victims will get. 60 percent, as you said demoted $300. you know, 22 percent will get 1,000. it is just trying my source that this is the way the money will be used. at the center of this, some company consul

why it's mary shapiro, former head of the securities and exchange commission. how convenient that it all worked out the weight. >> obviously there is a lot of back-and-forth. the revolving door goes around and around. maybe the reason it it does not pay as much. we did a big profile of the company that is at the center of this, and there has been a lot of people from regulators going. and they do good work, but it is very close with the government. you refer to them as michele regulators. when you have this sort of relationship with the big accounting firms, of course, price waterhouse coopers and also doing this work, there are only so many. there are very close to the regulators that they are supposed to be -- gerri: our viewers are looking at a full screen right here of that, what victims are going to get. >> not much. gerri: 60% as you said would be $300. now, 22 percent would get thousand. the fries my shorts. the center of this is some company consultants to the e cannot separate them from government. they're so close that they are government. they are fe

securities and exchange commission mary shapiro is joining a consulting firm which advises you guessed it financial firms. the mission of the s.e.c. and i quote is to protect investors and maintain fair, orderly, and efficient markets. shapiro took the helm at the embattled s.e.c. in june of 2009 and while many praise her for restoring the all but nonexistent of that agency at that time, she's also been criticized for never fully holding wall street accountable for the worst misdeeds that caused the financial crisis. her announcement comes days after we learned that the assistant attorney general in charge of the criminal division of the justice department has left the justice department and rejoined the law firm of camington and burling as vice chaim representing a big list of bank clients tied to the financial crisis. he was criticized for not pursuing prosecution against big bank malfeasance while at the justice department. neither responded to our requests for comment. >>> it was hailed as an 'em ik turn-around. atlanta schools went from bad to good in a matter of years. now teache

part of the problem is china has been so uncooperative with mary shapiro, and americans in general in providing those detailed numbers. it is certainly not a guarantee in any way whatsoever. dennis: you can propose a sledgehammer solution to the fearful problem, don't ever invest in any chinese company at all. isn't it kind of a drastic solution for freddie katz, how about somebody decides to do their research. doing business with a chinese company that is doing very good, maybe you have a little trustee can buy the company, you are causing investors to miss out on opportunity at a time when the manufacturing growth more than doubled expectations and could be coming out of a slump, but you say no, don't ever invest in any chinese stocks ever? >> actually individual stocks, absolutely not. if you're going to do it, do it through a mutual fund. the smartest minds on wall street including our top hedge fund managers are getting burned investing in individual stocks. i hardly think the retail investor with the average investor in america is going to do it. it is a sucker's play, if you're

i can tell you that the sec and, one of the problems with mary shafire row with her -- shapiro, legacy at the sec that we have disenfranchised market. not just the new york stock exchange. there are all sorts of black pools people trade on and match buyers and sellers which what markets do. when you have that disintermediation in the market it leads to stuff like this. who knows where the trade occurred. they probably don't know. it is kind of a scary thing and something the sec needs to put on its front burner. mary jo white is the new chairwoman. she doesn't strike me as a person who would do that. her background, she is brilliant. she is a brilliant law enforcement person but i always think the law enforcement person should be the head of the enforcement digs not a person at the top of the sec which sets a broader agenda which regulation is big thing that is unw problems she will face. let's hope she brings its up but i'm doubtful and this stuff will keep going on. lori: this happen so fast, in the blink of an eye and then recouped it. would this happen in the open outcry system? >>