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Monthly magazine that i titled very risky business. kind of after the movie title and it was about the financial institutions, the big banks and proprietary trading on their own accounts and i said it s like putting a craps table in the lobby. just flat out gambling. well, the rule is something that moves down the road to say, those kinds of institutions cannot be engaged in proprietary trading. wall street is pushing back to weaken the implementation and it was exactly the right thing to do. it needs to get implemented and needs to be implemented in a way that is strong and protects our economy and protects the american taxpayer. very short on time, but i do want to ask you senator you have this book out why did you decide to write a novel? i ve written two now. this is the second novel. the first two books are about economics. i wrote about the wall street ....
lead analysts at morgan stanley, the main underwriter for the facebook ipo, received privileged information about the company, information that they didn t share with retail investors. finra, the financial industry regulation authority, regulatory authority, the u.s. senate banking committee, and the commonwealth of massachusetts have all announced probes into the matter, and that was quickly followed by a lawsuit filed by some investors against facebook and its ceo, mark zuckerberg, alleging that both withheld material information from investors during the ipo process. now, specifically, they re talking about forecasts that revenue would be lower in 2012. facebook tells cnn, by the way, that the lawsuit is without merit. ron gefner is a former s.e.c. investment attorney. henry blodgett is the ceo of business insider, a website. back in 2003, henry handled a civil charge with the s.e.c., banned from the securities industry. he s a good friend of our show. and i say this ....
drought. we have pictures of tornadoes, storm reports that popped up yesterday. it was a real volatile day for kansas. look at that tornado. incredible pictures coming to us from storm chasing video. it s really when you see the light behind it, you really get a nice viewpoint of what the tornado looks like with narrow vortex at the bottom. that s when the tornado s strongest winds are at the end of this tornado. looks like this one you can hear the hail. this is working. you can hear the hail. it s hard to say whether that one particularly touched down. we have one injured you can see on the report. we re in the heart of severe weather season. not over yet. something that s a danger, known as the silent killer. you may not think heat is as dangerous as a tornado. people die every year from heat related injuries, illnesses than we see in severe weather. keep in mind heat is dangerous. high temperatures in the 90s for many areas, that s 10 degrees above normal. how ....
Republican party. always has been. so they re up to $75 million. i got to tell you this had better wake up the democrats. they have to get out and raise money and work like hell. otherwise, they could lose everything they gained this time around in just two years. john, your thoughts. the chamber s on a roll. we re talking about jobs. jobs and be against the chamber of commerce? they create the jobs. they do not create the jobs they hope the business community raises more money because we ve got to get democrats out and get jobs in the place. ed, you know what this is? this is bp. they don t want more regulations. massey energy, they don t want more coal safety. this is citigroup and goldman sachs. they want to go back to the wild days of wall street. this is etna and citigroup. they want to repeal health care. this is back to bush and cheney. that s what this is. always a pleasure. great to have you guys on. there appears to be bad ....
Economic policies that have been focused on only giving the big tax cuts to the top 2% didn t create jobs. i wish they had, ed. we lost a million jobs in the last decade in michigan. i wish the policies that they want to keep in place actually had worked. they didn t work. we lost jobs, and when is you couple that with the wall street debacle, you ve got million jobs we ve lost, manufacturing jobs going overseas. the reality is, it didn t work. and so we re saying, you know what? let s focus on the middle class. that s what we should be doing in this country. we ll extend the middle class tax cuts but the rest of this is blowing a hole in the deficit as wide as you can imagine and it has not created jobs. senator, isn t it fraudulent for the republicans to run around this country saying they re going to create jobs if they keep this tax law in place? well, to me, i just shake my ....