Billion. Tripoint is backed for gary sternlicht. Andrew, good morning. Theres some synergy there, as they say in the merger business. Also, we have some corporate buzz. The New York Times reporting that u. S. Authorities have expanded the probe into jpmorgans hiring practices outside of china across the asian pacific. Theyre focusing on south korea, singapore and india. The d. O. J. Was exploring other areas. We talked a little bit about this. Jpmorgan is the one that actually went to the d. O. J. And started talking about these other hiring practices and now theyve expanded their probe. There they are. Good news, in the i. P. O. Space, october was the busiest month for u. S. Offerings since 2007. 33 companies raised more than 12 billion companies. Finally, a new cnbc Associated Press poll is finding that the social Network Faces skepticism from potential investors and broader publica head of its initial public offering. Kayla is going to join us with more of those details in a minute. Joe, over to you, sir. Thank you. Dallas fed president Richard Fisher has a harsh message for washington. He says an ineffective frac shus and physically irresponsible government has slowed the u. S. Recovery and counter acted the stimulative effects of the feds super accommodative Monetary Policy. Double super accommodative i dare say. In prepared remarks to Australian Business economists in sydney fisher says in part, in his words, while the fed has been moving at the speed of a boomer in full run, is that a what is that . Is that a kangaroo. A boomer center . A boomer what . Boomer boomer esiason. He wasnt that fast, i dont think. They say it best exhibited the adaptive alacrity of a koala. Must be an australian thing. Without being anywhere near as cute as the koala. Thats interesting. Boomer may refer to animals, fictional characters, comics, video games. Doesnt explain it. Thats a large male kangaroo. Thats what we were just told. Large male kangaroo. So it doesnt have a pouch then . Not all kangaroos have pouches . I guess you wouldnt need one if you were male, right . Unless it was like vestigal. If youre male, i dont think you have one . I dont think so. Unfortunately some of us humans you know. Were not carrying babies in our pouch. Fisher mines less than it was. You have nothing. Fisher will vote next year on the fomz. He wasnt a Voting Member this year. Meantime, one of this years Voting Members, yes, jim bullard will join us on set at 7 00 for two hours and we may he may be a little different in tone and substance than plausser we talked to on friday. Theyre both hawkish. They have Different Reasons for why they get there. Yeah. Exactly. But they get to the same place . I think plausser is even more bullard has recently been more dovish than he had been. What i dont get is once you get him going and you get fisher going voting, does that actually change the dynamics . No. They all fall in line. Its interesting. Collegial voting. Plausser wouldnt have done qe 2 he said last week. But he voted for it. I dont know. Lets check on markets this morning. Markets continue to do well based on whatever you think it is. People have two different ways of looking at it. Either its the fed or its what the economy is going to finally do because of the fed up another 12 points. A decent session on friday. Oil has been a pleasant surprise for commuters from 195. The ten year, interesting on friday got down, now its back up its been anywhere between the 2. 4 and 2. 6 handle recently. The dollar has been moving in the right direction for travelers. Just recent, 1. 35. We could go on to 1. 35 which would help a little bit. Then gold made its move to the mid 1300s and immediately turned back down. Its been in the trading range for i would say about six months. So plausser becomes a Voting Member next year and bullard is a Voting Member now. Fisher he wont be. Fisher will be next year. Okay. You have new york, dallas, minneapolis, cleveland, philadelphia. I guess what im wondering, does the voting actually change the outcome . It sounds like the answer is no. If yellen says this is what were doing, this is what were doing. May get more contemptuous and more arguing. The minutes are more interesting. Theres joeys and theres boomers. Those are babies. Babies. Boomers are adult males. Theres a song, a fame yoousg so he was clued in. Smarter than we are. Finally figured it out. Knew more about australia. Lets get back to the top stories. Kate kelly joins us with the details of the sac settlement. Good morning. Reporter good morning, becky. It looks like today is the day after weeks of negotiating the embattled sac capital will finalize an agreement with u. S. Prosecutors to resolve charges of securities fraud regarding to Insider Trading. Theyre expected to pay a fine that amounts to 1. 8 billion. Thats 1. 2 billion in new charges related to the criminal settlement but at the same time they paid 600 million earlier this year in a similar but separate charge that theyll get credit for. This is probably the largest fine on record in terms of Insider Trading cases. Probably the largest as well for the u. S. Attorney for the Southern District in manhattan and certainly high ranking for the Justice Department as well. Instead of just pleading guilty to everything in the original indictment from july of this past summer, sac im told will have modified charges that they plead guilty to in a sort of separate court filing. We can look for that as early as today. That may go public today. The papers are likely to show up in court and then well hear, i think, from both the u. S. Attorney and sac and this is going to essentially end life as sac knows it, at least for a time. Whats going to happen is theyll lose their registration as an Investment Advisor with the securities and Exchange Commission and because of that they wont be able to manage public money. Theyll have a brief grace period, im told, in order to redeem the remaining outside money that they still have, but then theyll essentially convert to a Family Office early next year, becky. So that means theyll only be able to manage money belonging to steve cohn, the founder, certain employees and his family members. Hey, kate, couple questions this morning. One is this doesnt resolve any potential criminal liability for steve cohn, the man himself, is that true . Well, let me give you a dual answer to that. I mean, i guess it doesnt, although i think if they had the material for a criminal individual case against cohen, they probably would have brought it at this point. Now they continue to try current and former traders. In two weeks from now well see the trial of Michael Steinberg and i assume the fbi continues to try to turn witnesses against him. So i think you cant rule that out in the future, but i would probably not expect it at this point. The only reason i ask is because if you remember and you remember so well given now were talking about a 1. 8 billion settlement, 600 was already from a prior settlement, some people meant the whole thing was over. Here we are they would argue were sort of double dipping. It seems to me theyre taking a second bite at the apple, why not take a third . Right. I think thats certainly possible. The 600 from earlier this year is an interesting discussion. I think in the hedge 23u7bd cumulatikmu Cumulative Fund community, i think you would have expected this to be tied up. Instead you have steve cohen fighting personal charges that he failed to supervise errant employees, which is the nature of a pending civil case against them. And im glad you brought it up, actually, because that wont go away with todays settlement. Theyll still have to fight that next year and im sure that will have an impact on whether or not they can reopen as an Investment Advisor. One other question which is this, wall street has been a huge beneficiary of sac. Theyve been the largest fee payer to wall street in terms of fees off of just straight trades. What happens to what you think looks like the firm in the future and therefore their relationships with the rest of wall street . I actually would not expect substantial changes for now, and here is why. After sac was indicted on july 25th and between that and a protective order that the Southern District of new york and prosecutors there signed with sac, basically the street was given a certain guarantee. Sacs not going out of business. The government is not going to try to hasten that. They want to avoid hurting third parties, investors, you know, brokerage firms, prime brokers, what have you. Now theyre still operating out of that. If they become a Family Office theyll manage 9 billion. I know the plan is to keep things largely intact. They may have some additional layoffs. I dont think any of that has been determined. Basically theyll still be a high fee payer. When you talk to people on wall street, you probably have as well, andrew, theyll say this is an odd situation. This isnt sort of your everyday thing. Weve received assurances from the government that were okay in continuing these trading relationships. Otherwise, well move forward. Do you think once theres a guilty plea is there a firm that says, you know what, guys, youve been a great client, we cant do business with you . Reporter ive asked that question leading into today and i certainly think, you know, as we have some of these wall street executives on air we need to ask them that, but to my knowledge, nobody is planning that. The most dramatic thing ive heard is that theyre going to sort of reassess when this happens. But its the government that theyre looking to for guidance on whether they bear any liability for continuing to do any business. So far theyve been told they do not. Kate kelly, fascinating story. The biggest this has been going on. Its a soap opera that seems like its coming to an end. I dont know if it is. Its now time for the golden markets and well go across the world to lon ton to karen chow tso. You can see we are ahead by a third of 1 . Some of the individual indices to show you. You can see the core is still performing. The ftse is a backer. Hsbc, for instance, one of the banks reporting here today,. 4 is what you see across the ftse. Ryanair holdings, 11 of the down side its shares have slumped. They cut the profit target for the second time in two months. The ceo Michael Elyria claims the demise of the demise of alatalia will help them. One of the opportunities with the new 175 aircraft order is the fact that alatalia will get smaller. I think no matter what the rules are, the italians will continue to bail it out again and again and again. It will continue to create huge opportunities for us. Alatalia having impact across the board. Air france klm which is being forced to deny reports that its asked alatalia to cut 5,000 jobs. And alcatellucent shares are down 6 . Along with a 750 million high yield bond and elsewhere hsbc shares, i mentioned one of the better performers, 2. 4 higher. Analysts are saying the numbers came in line with forecasts. Hong kong, one of the outperforming regions. Heavy volume of stock and about 20 higher in the first 30 minutes of trading. You can see a very strong ticker in the stock price. Let me move to the other markets to share with you. Bonds up. We had numbers out too, heavy impact. Construction numbers impacting the markets. The highest level since 2007. Across on the eurozone as well, manufacturing numbers coming in line with the flash numbers showing an expansion. 1. 68 is what were seeing. U. S. Treasuries, 2. 61 . We are around the 4 mark as well, too, for italy and spain as you can see. Now crossed below the 4th handle. Not much pressure there on markets. A lot of liquidity in the markets. Let me toss it back over to you. Thanks for that report. We are also just days away from twitters first trade on the new york stock exchange. How does the public view it as an invest. Kayla has the results of a new pole. Twitter is set to price on wednesday and trade on thursday. Cnbc teemed up with the public to see how the public thinks about it. Half of all active investors dont think its a good investment. A number of those who dont think its not a good investment are high income respondents. Many people think it will be profitable in the next five years. One might think the most Optimistic Group would be the most frequent users, millen yals. When surveyed, 50 of the group said they wouldnt put their money in t. They have been weary about the stock market overall. There are broader questions about the business model. The majority of those with twitter accounts in the survey says they lurk or read news. More than half said theyve never even noticed promoted content. Twitters ad writers say 2015 earnings will be a turning point. Twitter in terms of overall favorability ranks low compared to its peers. Only 19 had a favorable view of the company. Thats pretty low compared to 47 for pb but, of course, potential facebook and google and linkedin had their dots, too. Its up because of their ipos. Because of the volatility and sentiment, its very likely that twitter underwriters will keep these shares to wall street as well. I wondered about that. Did we do a poll like that before facebook or is this a new poll . We did a similar poll almost exactly the same before the facebook ipo. 54 of people thought it was a good investment. Thats interesting. It is interesting. This guy, kayla, andy kesler i know andy. Weve had him on the show. Why twitters ipo is a bigger deal. Hes talking about ways that it will allow you to use the second screen. Thats why they hired the nbc person, because people watch tv and young people are tweeting while they watch tv. Some of these live shows, some of the shows that get the highest rating. It will be better than facebook for advertising. Facebook is up to 122 billion market cap. This is 13 billion. Why are our viewers not that bright for something . I dont this guys making the ka thas twitters a much bigger deal than facebook. The problem is its not as far along in its development. Facebook by the time it went public is making a profit, twitter is not there. Its harder to be able to point to that. More potential. Underwriters on the road are saying look at 2015. 2015 is the year theyve circled on the calendar. We are hoping by that time we will be profitsable. Thats saying twitter is more important than the other social networks because it inspires a conversation. The others get you to go on there. Twitter has the power to get you to engage. Twitter is suffering from the facebook ipo. Twitter i use for work. Facebook i would never if i had to choose one or the other you sometimes tweet pictures from vacation. I would take twitter if i had to take one or the other. If i could only have one. Facebook, i dont use very often. Twitter is not suffering from facebooks ipo, its suffering because people have been leaving facebook because its been littered with ads. I think its almost a good thing that people havent noticed the twitter ads. I didnt see one until you pointed it out. I didnt realize it was an ad. Im not following them. It was an nfl thing that i almost wanted to link on. Its like who are you . Its not retweeted. How did you get on here . You dont realize it. I do. Most people dont realize it. When they ask do people realize there are promotion there is, youre saying they dont. The negative of that many people dont know. 54 of people just lurk on twitter. They use it either as a news feed, they just read. They dont retweet. They dont engage. The problem is if youre an advertiser. If youre comcast and you want to buy an adebayor on twitter, only pay how many times its engaged. If you link on it. I almost linked on the nfl. I didnt realize it was an ad and then i almost clicked on it and then i got busy. Thats the same with facebook. Paper click. It will show you the ad 10,000 time but comcast only pays if you click on it. Right. More people, more impressions. Certain banners you play a flat fee for. Video ad. You play a flat fee for the home page. Little things do bother me. You have strong powers of observation. My clock in my car. Drives me crazy. I havent changed mine yet. Thats my problem. My car is different than my last one. I used to have just it was easy. A manual thing. It cant be like that. I had every manual out. I couldnt i said, you know what, i know its an hour fast. It doesnt matter to me. Drives me crazy. And im driving and so yesterday i said, you know what, ill be back in a while and i left the family and i went out there and i until i figured out how to do it, i wasnt going you know what i had to do . I had to get in and i had to set it to where i live in the world because its based on gmt. So its minus five and something is different. Now they think i live in newfoundland because i had to change it where now i think because remember i had to go through my gps. Gps. I dont know how to change mine. I was driving to my cousin to the new york marathon. I saw the clock was 6 30 and not 5 30. Youre going to miss the marathon. Did you notice if you went to a bed, it was an hour extra this morning . I feel good today because i had an hour extra. Its going to take me a while. Even an hour later is still dark. It is. But i got to sleep until 5 00 today not 4 00 even though it said 4 00. In my car, i finally did do it. It was bad. It took me probably two hours. Can you change mine . I could have dropped the transmission by the time it took. This is the way another reason not to have a vehicle. Another reason not to have i enjoy my vehicle. Im not in this argument. No. You have to have a car. He had to rent a car to buy a pumpkin. Thats true. Anyway, coming up, googles executive chairman theres two kinds of people in the world, those that think the nsa that think snowden is a hero or who think hes a scoundrel. There are two people in the world. The nsa blasting the nsa over spying reports. Google likes to keep all their spying to themselves. They couldnt want other people having their spying information. What the d. O. J. Wants u. S. Airways and amr to do. As we head to break, the weather channels alex wallace joins us. 32 degrees this morning, alex. Cold. Yeah. Theres no way around it. Cold. Not just for new york city but the rest of the northeast. Very chilly start to things. A lot of 20s in the interior. Syracuse to buffalo, 20s. Therefore, no doubt about it we have chilled do