Cranny is outside parliament in london. Issues . The key some pretty tough questions, betty. Detail is what they are going to want to know. They suspended one employee. There is no evidence of collusion. This goes to the heart of the issue. Or peoplef england within the bank of england were concerned about rating the Foreign Exchange market and the close of the market area this was eight years ago. Would meet with people from the bank of england. And talked about the close the issues. They only decided to do something about that eight years later. This is an unregulated market. It is an unregulated market. He has artie instigated an internal investigation. Already instigated an internal investigation. Still comely politicians say internally looking at yourself is not enough at the moment. We have breaking news about alloys Bank Currency trader who tipped off bp on a trade. What is up with this . Encapsulates the very essence of why mark carney is in from the treasury select committee. That a trader at offds Banking Group soft 300 Million Pounds and to convert that into dollars. He tipped off somebody at bp before he began. This is before he executed the trade. That, if bp is involved, you are looking at market abuse. This is possibly insider trading. The trader concern has been suspended but not accused of any wrongdoing. It is important to make that point. I also have some comments from bp and lloyds. Lloyds says the investigations are ongoing. Bp says they refute any suggestion that bp traders were doing inappropriate trading. That is the problem, betty. It is not a regulated market. He said, she said. What did you say . Back to you. This investigation will continue. Thank you so much, manus cranny. The president is headed to manhattan for two friend raisers. Phil mattingly has more on this story. Is alan patricof. He is hosting 30 people at his house. Tell us about these fundraisers. Democratssident and recognize that a few months from november the senate is very much in play. They need to raise money. At the patricof home is tonight. It is 32,000 per person. Blackstones at house. The president is still able to make that trip to new york and get these people together to raise money for the party. This is going to be a tough election cycle. 20is hosting about fundraisers between now and november . To the senatets right now. When democrats moved into this cycle, they did not expect these six seats and the republicans needed could occur. As of now, there are as many as 10 seats in play to flip very if the president maintains the white house for the last two years, nobody thinks the house is in play. If the senate flips to republican as well, this white house is done. Therell be very little they will be able to accomplish. That means the president was to get out and raise money and get as much of that money to democrats that are tolerable as he possibly can. The president and the white house has been trying to boost the enrollment in these health exchanges. What is his new way to get young people to sign on . They are willing to do anything. Everybody knows a Zach Galifianakis th. He has a show called between two ferns. He brings on a highprofile guests. The president sat down with him. Listen to what he had to say. What did you come there to plug . I think i would not be with you if i did not have something to plug it. Have you heard of the affordable . Are act question mark it works great now. That is a good question. It is a great back and forth. They have a Million People enrolled. They are targeting 7 million. They have until march 30 forced 31st. He is willing to bring Zach Galifianakis into the white house and do between two ferns. Check it out. I hear they are very funny. Thank you so much. Phil mattingly is our white house correspondent. Chairman of red apple group, one the Largest Private Companies in the u. S. He is a Republican Party donor. A clinton fundraiser. It is great to have you back. Where are you going to send your dollars . I think we need a balance of power. We are toowith polarized. It is been away way for years. It is been that way since president obama. Democrats and republicans always sat down with each other and hammered out a deal. I think it goes back to president obama being a smart guy. He never had the experience of washington. He was not all senator or congressman for a long time. That created a problem. Settling was not the answer. Where you going to butcher money to try to broker some kind of truth between the two . I am putting my money toward a Republican Senate and a republican congress. Are you against the tea party . Do you want to fight the tea party candidates. It is wrong. They should have stayed under their old adage. Let us reduce taxes and not go on to every other subject. Isremism is any direction wrong. Americans have to come together and work together. We need to come up with Commonsense Solutions like we did for the last 200 years. Right now, im hearing from so many republicans and donors that say the tea party is bad for the Republican Party. They are turned off from donated money to republicans. Where was all this push back before the Tea Party Really dug their heels in and were able to do divide congress . Speaker boehner is going around and trying to collect money on his own to make sure that his people get in. We have tol get commonsense people instead of people who have no common sense. America depends on it. It does. Where is the leadership in the Republican Party . Who do you think is going to lead the Republican Party . Are we talking about 2016 . Think the leaders are jeb bush. He is a decent person. Romney, he is quietly being talked about in certain circles. He wants to give it another shot. The two top leaders are mitt romney and jeb bush. Applies place is chris christie. He may move up. It is a porsche race. Race of the close clintons. What if Hillary Clinton ran . I have been a close friend for 25 years. They are close friends. My kids traveled to africa with bill clinton. Friends. E let us put it that way. Would you feel that if she ran, conflicted that you would want to support her but say true to your party . I would look at it and see who is running against her. What dialogue are you having andt now with senators representatives in washington . I know you meet with them and talk with them. They talk with you. What kind of talk is the conversation . I havent several senators in my office. We talked about being able to sit down and create solutions. It seems like the only Way Solutions to what . The dominant issue is impasse in washington. On what issue . I am an immigrant. Immigration is important to me. Throw 11t going to Million People out of the country. Let us sit down and say ok, we want to able to transition them over five or 10 years and say to them you have to pay taxes and you cannot be a crook. Commonsense solutions. They are taxes, be a good citizen. Over the next five years we will make you a citizen. Is that the top of your mind . For your business, what is top of mind for you western mark obamacare is a mess. I sat with some Union President s the other day, they even think it is a mess. When the unions are starting to president , nobody knows whether to is a good or zagat. Say wewhite house would fixed the problems. We have several Million People in the exchanges. How manyknow my are paying. They are registered. Where is the check . There are delays still on companies complying with it. We are going to talk more about politics. We will talk about politics in new york city. Still feeling heat for his support of immigration reform. Marco rubio is talking about the United States economy. We will hear more from him later. Buy theis offering to fuse for 200 million. Fuse is owned by Madison Square garden. He wants to convert it into tv. In three times as many homes as revolved. , dr. Dres rappers asic service has raised second round of financing. Corvette gets an overhaul. Well put you in the front seat for a test drive. We are just Getting Started on this tuesday. Youre watching in the loop. I am back with the ceo of red apple group. They have interest in energy and groceries. We were talking last week because we had the exclusively uncovered a supermarket in lower manhattan. This is on 8th street. Warren buffett owned a piece of the property. You rent from this property. He is a part owner. Had he feel about buffett being your landlord . Being a real estate owner in affirmationlove the that new York Real Estate prices are going up. Invested in new york, everybody else should too. He said to me he wished he had bought more given how well that property has performed. It got me wondering, john. Rents have gone up. They have gone up considerably since he bought in to that in the early 90s. Is it harder to operate businesses in new york city is the rents have gone up question mark it is very hard to operate. , if we are talking about the grocery business, are 10 times the amount. Why is my milk so high . The cost of the rent. It is a problem. A cost of rent, unionization. We have factors that do not exist in new jersey or other states. You ran for mayor. Is under someyor pressure to raise revenue. One of the things people have said is why does he not overhaul the property taxes in the city . We talked to another developer, i want to hear what he said about he thinks the tax system is unfair. We are seeing an undertaxed in Single Family homes. What needs to be happening is a shift. There should be a reallocation of taxes. Would you agree . And no. Im not looking to raise taxes to the single homeowners that work hard. I rent. I rent. I dont think we should raise taxes and chase people away. I was in florida a couple of weeks ago. Florida real estate people were celebrating more and more new yorkers are moving down. It is like 400 families a day. Really . The fear of taxes. It is going to rise so they figure that us get out of town a faster. I think it is wrong to chase people out of town. Wenow bill de blasio feels have two cities. He is the mayor of all the people. There are there to new yorks . In every large city in the. Orld, there are two shanghais there are to londons. There are two parents is. Parises. People, theout the busboys and waiters will lose their jobs. The taxidrivers will lose their jobs. It is great to see you. Thank you so much for talking by this morning. Thank you for having me betty. Well be back in just a few moments on in the loop. You are watching in the loop. I am betty liu. It is 26 after the hour, we are on the markets. The s p closed just a hair below its record. We will see if it will make a run afford again today. Some are calling it a turning point. It is a step back on the brink of disaster. After being downgraded to junk, puerto rico is coming to market with a big bond sale. Who is good for everybody joins muni bond. In the thick they may be able to pull this off. Everybody who has any kind of muni mutual fund, they own a puerto rican exposure. They were talking about the entire market being at risk if they had defaulted. They may be able to pull off the bond sale. Those fears might diminish for a while. They have 3 billion in general obligation bonds. If it is oversubscribed, they saying aey are surprisingly good result for puerto ricos standpoint. Now they arent six month lows. In general come the climate for munis has gone away from the market. Theres a better feeling about puerto rico. They have a long way to go. They are making progress on their budget. Has been a huge lack of supply. Puerto rico is leading the way. There is enthusiasm for that. We will know until later today. The initial feeling is that this is going to succeed. Are you surprised . The downgrade may have helped. It created uncertainty in the market. If youre going to buy bonds and then get downgraded, you lose money. Now at least you know we stand. It does change the universe of potential buyers. They are held by mutual funds. They cannot buy it because of the rules that it is junk. This largely becomes a hedge fund offering. These bonds are so state and local, they are taxable. The yield is 15 . Local lot9 for of people. It is still a risk because the island still has funding only through 2015. It got into trouble by borrowing is not going to solve its problems by borrowing. The government has been aggressive. They are promising a balanced budget by 2015. Some analysts think that will not be enough. The yield curve is still inverted in puerto rico. Will it normalize . That is the question at this point. Thank you so much. That is economics reporter mike mckee. Congress is looking into why gm any National Hire a Safety Administration took so long to respond to consumer replay complaints. This was linked to 13 deaths. Stopped at any point. Sign aboutis to start the president of softbank said he is about to start a software. He would have the ability to compete against at t and verizon. The subscription staving service from rapper dr. Dre and jimmy ill find raised 100 Million Dollars. Beatz is gearing up. Investigators are still looking for clues to figure out what happened to the Malaysia Airlines flight the disappeared over the c three days ago. Ares from Nine Countries hoping to find the black box that can hold the key to this mystery. We are joined by megan hughes. We are also joined by john mcgraw. Megan, what happened to the transponder that helps airtraffic controllers track the airplanes . It is a huge question. We are talking about the emergency location transmitter. It is also called the elca. It is made by honeywell. Investigators do not know why it went dark after takeoff. It sends out a signal on impact. Pilots can manually activated. It did not work. It never happened. Haveexperts say it could been caused by a huge explosion. Separate from that, you have the black boxes that we talked so much. They are also made by honeywell. Honeywell said this plane was equipped with two. They are actually orange and not black. One was the flat flight data recorder. Wing movements, anything going of the engine. That you have the cockpit voice recorder. That does exactly what it says these are supposed to be sending out signals for 30 days after a crash. They can do that underwater for more than two miles underwater. That is what investigators are really hoping is found here. So far, they have not been able to trace anything from either of those. John, is it unusual that three days in we still have no signs of this airplane no debris . It is unusual. If an airplane rakes up on flight, there is a debris field. A Service Vessel of the cup objects. They will find things that are floating like seat cushions. If it hits the surface at high a debris creates field. It is dependent now much current there is or how far it spreads. I would anticipate that it will be found eventually. They have a massive search underway. I think it will end up finding remnants. And the fingers are good for a couple of miles. This is a huge search area. It is not very detectable very quickly. This airplane will be found. The water is not very deep, a couple of hundred feet deep. Reports have come out about been asking how is it that with all the technology and all the tracking that we are able to do with technology, how is it that in 2014 a jetliner as big as a 777 could just disappear . How . That is the mystery. What we know in this case is the flight crew did not rest the emergency button. They did not go into emergency mode on the transponder. That rules out a lot of things a could of happened. They either could not or did not activate that device. Typically, you have some kind of signal if they were dealing with a malfunction. It does narrow the possibilities of what has happened. Megan, what do we know about the investigators . They focused right now . How are they cooperating . There are several countries involved in uncovering the mystery. Forirst, they are looking technology. I did talk to honeywell. Boxes are thelack latest technology for what it does. It is not communicating back anywhere. It stores data. Ofse were updated in july 2010. Black Box Technology has been around since the 1960s. It is been updated. Into using space satellites. Vietnamese satellites and chinese satellites are going to be used to look for this debris field that john was talking about. If they are not looking in the right area, maybe that will help. Authorities, u. S. How much should they involved in this . Boeing 777. Lving a they have representatives on site. The faa has two representatives on site. They are still in the search mode. With the lookting at the records of the airplane. All of the background, trying to lend their experience to the search teams. They want to be as efficient as they can be. Megan, you have focused on the Technology Aspect of this. Have the expert you have talked to said the technology has to be better in order that the next time Something Like this happens it will be easier to find the and data recorders . Have they talked about improvements in the technology . It is that they talked about a lot. If you would rescan of history, this is unprecedented. Dont see a lot of cases were the black boxes are never found. We are still early in the search even though it has been several days. I do not think the book has been written on what happens here yet. Wants to solve the actual accident quickly. If you downloaded these parameters constantly, which creates a lot of bandwidth and is very expensive. And there is a lot involved. It would not help you necessarily find passengers. If this is a survivable accident, the pilot will be able to make a call and youll know the airplane is. If it is not survivable, it does not assist in the investigation. You do eventually find the black boxes that has that the tail. Detail. For will have some feel people who want Automated Systems on airplanes. W