yeah you worked for enron oh yeah but he was not lobbying on behalf of the financial debt was a lot of you know the editorial but it's good to the point is. the point is that that we went from no derivatives right there was no market derivatives no black market in underground market nothing and no trade no opaque market no transparent no transparent way from that to nine hundred trillion dollars worth of shorts now down to six hundred trillion dollars the g.d.p. of the entire planet is sixty five trillion dollars a year in the last five years we've said we've seen two hundred fifty trillion dollars of the derivatives vanish in the ten years before that we saw six hundred trillion dollars appear how can you say if there's there's one. is a winner on one side a loser on the other of ours to be marketing it you know i mean i'm i'm against this i think here you are trying to dictate behavior the problem here i see it is you're taking the transactions and you're taxing or having a fee on the transactions not who's making money so you're technically taking money from people losing money and

and, yes, this task force existed before when it tried to tackle the enron problem. another area of energy, electricity, but an area where we saw a lot of the same schemes being perpetrated on the public, you know, by people moving supply around or creating images about supply that really weren't true. in this case, it appears that there's some evidence that we want them to investigate. the fact while they said they were down, emissions were still coming out of some of these facilities which would lead you to believe they were actually producing supply. >> we contacted the western states petroleum association to get their response to this, to the mcclatchey report and this call for an investigation. they told us the department of justice elects to investigate gas markets on the west coast. we're confident the investigation will reach the same conclusion dozens of other investigations over the past two decades have reached that gasoline and diesel prices on the west coast are determined principally by supply and demand. they also said the author of the report who i ci

however, lower prices and more regulation following the enron collapse are causing firms to take a step back from the business. recently, federal regulators banned jpmorgan chase from selling electricity for 6 months. it's part of an investigation that the bank manipulated energy prices in some parts of the u.s. the holiday parties are winding down on wall street. several financial firms in new york called off holiday events or scaled back. report say morgan stanely and credit suisse did not sponsor parties. citigroup, deutche bank, barclays and the investment banking unit of bank of america left it up to individual departments to pay out of their own accounts. back in the day, as in before the financial crisis, wall street firms rented out nightclubs and steakhouses in midtown for holiday celebrations. the u.s. government is calling in the national academy of sciences for yet another safety review of airport scanners. the department of homeland security says the nonprofit group of scientists will be charged with reviewing previous studies done on the scanners. the call comes amid conti

-- >> enron started it. somehow people like darrell issa managed to blame enron on gray davis who was the one guy who tried to stop all of the nonsense. >> we end up getting arnold. >> actually, jerry brown is doing -- hardest job in the world trying to get this down. >> doing a good job. >> stephanie: he was the analogy we made last hour about george bush is the one who ran over the pack of cub scouts and barack obama is the ambulance driver who shows up to help. oh, look what you did. see, jerry brown is the ambulance driver. >> i wonder how much the taxpayers, me, paid for the dress that mrs. obama is wearing. she could be dressed up but she'll never cover up -- >> taxpayers didn't buy the dress! oh my god! >> wow! >> what a bunch of morons. >> stephanie: jim, don't go in the yahoo comments! all right. generally writes d.c. sexy liberal show -- this is more like a love letter. steph, i live in sacramento. my parents live in d.c. i've been out of work for awhile. my parents bought me tickets to visit for t

return they would be refunded about seventy million in cash yeah i mean this is important because before enron before world com before two.

return they would be refunded about seventy million in cash yeah i mean this is important because before enron before world com the ford to liberalize debt obligation before the shadow banking system before goldman's. x. slush fund for jamie dime to became ruler of the underworld of financial terrorism there was something called only one accounting where very simply there are no net profits but net profits are what are promised like art buchwald from coming to america the movie made hundreds of millions but he never got a nickel because there was never any net profits that was the hollywood accounting that was made famous by the schmucks and the charlatans and harley and hollywood now it's a global accounting phenomenon george osborne ben bernanke wall street they all they all want to piece of skull and join hands and slow play now to be clear here what hollywood accounting is and i used to work in hollywood so i know this is these big entertainment conglomerates basically for example the music music industry used to make money but they would hide all the profits in the losing sector or.

marketplace the hostess story really has nothing to do with the unions it has everything to do with the enron is ation and the bane. of the american economy and classic and riles and ron style back in two thousand and five hostess sent out a letter saying that they had a very very profitable core stock jumped up c.e.o. charles solvent and many of the senior executives sold chunks of their stock nice profit c.e.o. and senior executives are making how big the workers were making a decent living at that time one of the hostess workers my kamel blogging as blue barnstormer over at dealey code noted that he was making forty eight grand a year a bit over the us median income and had insurance on a pension then a few weeks later in two thousand and five came the letter saying that but still our profit was really just the coding error the company is actually in deep trouble although the c.e.o. of the top guys at all made a nice killing selling the stock when it was high and high the way paying a maximum income tax on a fifteen percent because they use that capital gains loophole that mitt romney use

of course after the enron scandal arthur andersen was put out of business because their involvement in that scandal but of the remaining big four they don't seem to have learned the lessons they've got another major scandal with h.p. and their deal with. autonomy a software company where the accountant in charge of that deal a gross negligence failed to spot major inadequacies to the point of outrageous. transgression of anyone's idea of what a accounting standards should be how could how the accounting these big four of them remaining accounting firms scaped any scrutiny at all they seem to have completely the lighted through this conspiracy that they're involved with defrauding millions of people around the world as part of the financial crisis and i think basically they're like screwed a fish following the whales in the worlds of the major banks and they make huge amounts of money to the financial sector the room the four of them and all of the good sweet deals the senior partners are paid. and you know it's not quite on the scale of the top bankers but it's very very very nice livi

return they would be refunded about seventy million in cash yeah i mean this is important because before enron before world com before to liberalize debt obligation before the shadow banking system before goldman sachs slush fund before jamie diamond to became ruler of the underworld of financial terrorism there was something called ali wanted telling where.

return they would be refunded about seventy million in cash yeah i mean this is important because before enron before world com before collateralized debt obligation before the shadow banking system before goldman's. x. slush fund before jamie dime to became ruler of the underworld of financial terrorism there was something called the only one accounting where very simply there are no net profits but net profits are what are promised like art buchwald from coming to america the movie made hundreds of millions but he never got a nickel because there was never any net profits that was the hollywood accounting that was made famous by the schmucks in the charlatans and harley.

mark enron, thank you both for coming on. i really appreciate you both talking. thank you so much. still to come, by "two cents more". some deals out there that are practically free this holiday season. nd out where you need to go next gerri: looking at every nickel and dime during the holidays, who doesn't love a great deal? we have you covered with a round up of a great list. one of them is a free convertible ride in hawaii the executive from smart travel joins me right now. the great deals that are out there right now. starting with kids sail free on disney? tell us about that? >> these deals are almost free. a lot of them you have to buy a little something, but this offer is great. children under 17 can travel on disney. six to eight nights, you must have two adults that are also staying with the children. gerri: flying free to ski. can you tell us about that? >> you fly american airlines or united come you can basically book a ski trip. for every four nights, every third airline ticket is free. you have to book by december 1. so you have to make a quick decision on that one. g

so now, i understand you talked to enron kahn who might be interim president in afghanistan. i want to show that. >> there was a drone attack three months back that killed seven people. the rescuers came, another drone attack killed seven more. more rescuers came, another drone attack, they killed 22 people. how can you justify that no. >> there is what's called a double tell. what do we do here? explain it and why are we doing it? >> remember, we are not at war with pakistan. this is being done by the c.i.a. it's not being done by the military. there is a whole series that legal questions coming up from the united nations and countries around the world investigations going on. we are supporting some of the bills that are asking for investigations. the dowell tap which if it can be proven may well be an actual legal war crime is there's a strike, people are hurt and i had a young boy tell me this story and it was very, very powerful. people then wanted to go to help the people who have been hurt by the drone strike, many of them who are innocent and they're afraid to go becau

mark enron, thank you both for coming on. i really appreciate you both talking. thank you so much. still to come, by "two cents more". some deals out there that are practically free this holiday season. find out where you need to go next want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] atumana, we understand the value of quality time and personal attention. which is why we are proud to partner withealth care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospits, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most

mark enron, thk you both for coming on. i really appreciate you both talking. thank you so much. still to come, by "two cents more". some deals out there that are practically free this holiday season. find out where you need to go next - hi, i'm halle berry, and as a new mom, i can tell you that childhood is a magical time. but for children with diabetes, life is not quite so carefree. the barbara davis center for childhood diabet is fighting hard find a cure. know the signs: irritability, excessive urination, weight loss. if you have any of these signs, please call your doctor. early detection can save your life. give to save lives and reach for the cure. call now or log on to ildrensdiabetesfoundation.org. gerri: looking at every nickel andime during the holidays, who doesn't love a great deal? we have you covered with a round up of a great list. one of them is a free convertible ride in hawaii. the executive from srt travel joins me right now. the great deals that are out there right now. starting with kids sail free on disney? tell us about that? >> these deals are almost fre

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mark enron, thank you both for coming on. i really appreciate you both talking. thank you so much. still to come, by "two cents more". some deals out there that are practically free this holiday season. find out where you need to go next ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. it was the biggest race of the year, and no matteoqat, i was gonna win. someti[js...things happen you just canoi explain. )a ♪ oh, i believe there e angels among us... ♪r> and some things ar more importanthan winning. #% ♪ st iíwn to us #]from somewhere up(above ♪r2 #o♪hey come to you and me ♪ i don't remember who won the ra that day...r2 ♪ to show usfr how to live, ♪ ... bui'll(never forget how i felt. ♪ to teach us f:how to give ♪ to guide us with the light of

in the enron case top officials were criminally prosecuted. i hope they will say yeah, you're right. >> can congressman, supreme court does have decisions out there that confer rights to corporations. to your point it makes it difficult sometimes to go after people you can kind of hide behind the corporate structure. so where is the right wiggle room and what is the ability of even the justice department given some of the court's decisions, do you believe? >> that's a very good point. and the supreme court said that corporations have some of these rights. but the granting of the rights to the corporations does not immunize the individual. actually both are guilty. corporations committed the crime but individuals have committed the crime. corporations can't act without individuals that they are doing it. so that's supreme court decision is not an obstacle for prosecution. i'm skeptical in unlimit campaign financing but the fact that there were several guilty entities doesn't mean you can't prosecute the ones that actually did the job. >> congre

when there really wasn't one and i can tell you this, andrea, from all the work that we've done with enron and on derivatives in general, the simplest scheme to perpetrate is a false sense of a shortage and driving up the price. and we want our department of justice and the federal trade commission to be very, very aggressive against these kinds of schemes. >> senator cantwell, thank you very much. thanks for joining us today. >> thank you. >> up next, a story of love and anarchy, author karen on her book "sasha and emma." this is "andrea mitchell reports only on msnbc. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus rushes relief to all your worst cold symptoms, plus it relieves your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] you're welcome. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...a

you had enron being a big spark from mccain-fine gold. the arthur anderson bankruptcy of a catalyst for sarbanes-oxley, something that was previously considered dead because of opposition in the financial community, and lastly, of course, the financial meltdown led to dodd-frank, a very controversial piece of legislation, so do you think that there might be those kind of precedence here? is this big enough, like a meltdown of sorts, where people might change the calculus in congress? >> that's what's fascinating about what happened this morning. as michael mentioned, they had an opportunity to diffuse the anger and the action against them if they had come out and said something that sounded reasonable and had mullified everybody. people might have said, okay, something is going to happen here. people's attention span is tragically short. now i think this has been a great week for flushing out what people really think, and i think this is going to stoke the anger and make people want to stay on their legislators. we also saw the original a

is a yellow flag, lot of estate planning and stuff like that, imagine if all of your planning was in enron stock and you work at those companies. i love it, they have a string of earnings, the street expects them to outperform the market meaning they will take more market share, all the right places, the data centers, it is breaking out today. from here thin i think it has a pretty clear shot. melissa: thank you so much. charged with accounting fraud, also charging former street cfo saying he knew of the fraud in the company and executive settle the charges, and doing mental news as well. lori: after graham saying they have the right to post any pictures that you post. melissa: upping the ante for knight capital. exclusive new details as the bidding war intensifies. how the dollar is faring here against foreign currencies. weaker against the euro and the pound. stronger in asia and canada. we will be right back. it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you ply to the underarm. ax

enron takes the report and puts it in motion. we will see a catastrophic disruption of jobs in this country. cheryl: joining me for the rest of liz's interview on "countdown to the closing bell." employees of random house are in for a lot of green thanks to "50 shades of gray." dennis: first, let's take a look at some of today's winners on the nasdaq. ♪ [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you knomore so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need . it's anothereason more investors are saying... [ all ] i'm with scottrade. dennis: time for your media minute. netflix about to get slapped for violating full disclosure rules. netflix ran this post on facebook. casually revealing that viewing was up to a billion hours a month without issuing a filin

they got enron's energy wind mill business. that's going to boom under president obama. obviously hep's the head of the jobs -- obviously he's the head of the jobs council. brought back a few jobs from china, a lot of pom-pom waving. immelt was in a tough predicament. i think it is unfortunate he put the president's agenda ahead of shareholders. stuart: the shareholders lose. what are you shaking your head at? >> i think he's doing the right thing. ge has paid a positive dividend every quarter for the last 100 years. the shareholders of ge have a choice, if they don't like what the leader is doing, sell shares. i think he's doing a great job, he's doing his part to stimulate the economy and bring more revenue. charles: the stock has been a disaster under his leadership, unmitigated disaster. forgetting about the agenda and everything else. >> it has been but still paid positive dividend. i don't think that ge shareholders, again, we're back to choice, if they don't like what he's doing, they need to sell -- stuart: you don't think immelt could have done something for his

look at what he did to enron. i could have done that job for one-tenth of what he did it for and i could not have done any worse. it is time we start outsourcing the top people instead of the bottom. host: i want to get and the bill from louisiana on the republican line. caller: good morning. how are you today? on the this compromise, i heard that if obama gets his way and gets an increase on the taxes on the 250,000, we will lose 1,800,000 jobs. if the republicans get their way, we will not lose any jobs. which way do you want to go? host: where are you reading your statistics from? caller: i had a friend of mine tell me this. host: are you willing to -- caller: you will not see this in the newspaper because they will not print it. they will not print anything that is-against obama. never. not ever. you are reading it now from the newspaper. that is what i am trying to tell you. if you read the newspapers, you will not get the news. host: built from louisiana this morning. coming up as part of the series looking

people on show worked at enron and worldcom and all their money and sold a little bit of it. it a yellow flag, not a red flag. tracy: tax planning you're probably right about that. ashley: thanks, charles. of course as we do every 15 minutes let's check on the markets. the dow still hanging in there up 44 points. nicole petallides on the floor of the nyse. a couple names moving on legal news, nicole. >> that's right. let's start off and take a close look at aetna. when you look at aetna you see it on the move. that is because they agreed to pay out $120 million to settle some class action lawsuits per takening to some practices they had paying claims for out of network care. and, meantime jpmorgan actually raised aetna to an overweight from a neutral. to a certain extent this brings some clarity. when you have this type of thing overhanging a company or overshadowing the stock, now there's chrart. chart. this is -- another thing interesting, tracy and ashley is big lots. turns out the fbi is investigating because there is a 10 million dollar stock sale by the company ceo done

, but it follows a pattern that the justice department has used since arthur anderson following the enron scandal. they didn't want to put any more big companies out of business, so they go into these deferred prosecution agreements, today hit the bank with a big fine and then today kind of move on. what's kind of like -- what's not good about this is that if you think about it, shareholders are suffering when you had probably individual employees who committed possible crimes here. jenna: so you don't think this was a policy necessarily of the entire bank, more department-specific? >> well, there are people involved, right? i mean, i'm not saying the bank shouldn't have been dinged here, but if you think about it, the deferred prosecution agreement extends to the bank. we don't know who's involved in this. and i, as a business reporter who writes for shareholders, say i think this is kind of a bad thing. to defer the blame to all the shareholders when you had individual people involved, and, you know, it looks like they're making up for not indicting individual people, not charging them