Could you get a bargain. Who made money today. He could soon be new king of your tv. Stay tuned to find out who it is. Even when they say it is not it is aays about money. Adam there is word crossing headlines that an actual deal will be president the to the repuican conference in the senate at 100 a. M. Hope is on the horizon that ourlected officials in washington, d. C. Will end the impasse and finalize a deal. The tentative plan increases the debt limit through february 15th. Does that mean were just right back here in the same place in four months . Joining with us latest developmen is senator rog wick a member of t Senate Budget committee. Thanyou for taking tim out of what i a crazy period in washington to be with us and explain to us why four months fromow we wont be rightack where we are today . Oka this interview was scheduled a lot earlier today. We didnt know e would have a reported deal which this time. I doot know the details. You may lose viewer interviewing somebody like me. Adam i dont think we would lose viewers. Let me get to the heart of it. I would suspect, im not sure, were noture y about the continuing resolution. What were talking about is raising the bt ceiling for four more months. Four hour r more months. One more year. Weve been through this before. Do you hear from anybody in the Republican Caucus or other sde the aisle from the democrats, anything tangible that prevents us from going through this ridiculous as i think you might agree repeatedly . What i hope is include ad legitimate budget negotiation. Im a m memberf the budget committee. Ive been wanting to go t conference for years. Would hope any temporary deal gets us to negotiations. What we need is to change the basic structure ofur mandatory spending we need get some slowing of the growth rate of this huge federal government. That is what we reallyeed. Adam when you bring in the discussion of mandatory spending i want to talk about that. Assume whatever is presented tomorrow at 00 a. M. To the republicans holds muster. Can john boehner deliver the house . I really dont know because i dont know the details. I cant imagine though that mih mcconnell i negotiating in a vacuum. My guess he is closely discussi this with the speaker of t house actually. The house is where we have majority of the, republicans have the majority, not over in the senate. It fell to mitch to do negotiations this time. Im quite sure he is talking to mr. Boehner about it. Adam im not getting into the details but i do seerossing from our headlines from our bureau in washington that some of the deal will include tax concessions from the democrats as well as republicans this is to raise the debt iling. My concern is the Government Shutdown and continuing resolution do you have any news, or anything you canhare with us about the progress o a budget to keep the United States governing and governable . My expectation whatever is announce11 0a. M. Tomorrow will reopen the government for a temporary period and involve a temporary increase in the debt ceiling. Let me say this about kicking the can down the road because you led this segment with that. Whenever you raise the debt ceiling of necessaly it involves getting back and revisiting this issue at a later time. So it i not ectly a disaster that we have to look at it frequently. I would hopeith another debt ceiling vote, looming, say, january or february of next year, if that is what the deal is. It would be great incentive for House Republicans an democrats to come together as the supercommittee could not do in 2011 and slow the growth rate of these very important programs. Theyre ve popular and very portant but theyre growing just t fast. Adam lets talk about the continuing resolution. So we would get a debt ceiling raise up tough february and continuing resolution to fund the government up through february 15th. Does that give the 435 peoplin theousend those of you in the senate, enough time to wor out a budget that is going to deal wi mandatory spending . By that i mean Social Security, medicare, medicaid, obacare as well as defen . Well, it certainly givess enough time, if people are negotiating in good faith. If theyre, if theyre nt actually serious about taking some of the tough votes, that have to be made, and really can only be made during dided government tn, year wouldnt be enough tme. But three months plus is yes, it is plenty of time. We know. We know what needs to be done. There is some members who have been meeting in small groups. Theyre trying to iron this out with republicans and demrats heading hands on this, much as tip oneill did, president Ronald Reagan did back in the early 80s. They performed a very difficult task of slowing the growt rate ofocial curity so that it could last another three decades. We need to be worthy of their legacy during these next three or four months. Adam senato wicker, i appreciate you joining us from the great state of mississippi. Although i s you there in the capitol. Ese are ents unfolding as were talking. I need more details. Adam soo i but i think were all, you know, the markets at least didnt take a breather. They closedp today. So theseem to be optimistic that all of you will do someinthat all of us can rest assured will i hope that is justified. Adam thank you very much, senator. All e best to you. Youre welcome. Adam next on money, former vicecir of Goldman Sachs, ending the budget standoff once and for all. He says lawmakers have to act like biness owners. He is here to explain how they can finally seal a deal. How bad is it for sacs stev cohen . Hes now selling off some of the most valuable t in the rld. All the word on wall street. Well give you inside scoop. Maybe thenside deal. More money coming up. We went out and askedeople a simple question how old is the oldest person youve known . We gave people a sticker and had themhow us. We learned a lot of us ha known someo whos lived well into tir 90s. And ths a great thing. But even though were ving longer, one thing that hasnt changed much is the officiaretirement age. The question is how do you make re you have the money you need to eoy all of these yes. Help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. I can tell you safety is at the heart of everything we do. Weve added cuttingedge chnology, like new deepwater well cap and a stateoftheart monitoring center, whe experts watch over allllrilling activity tntyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Our commitment has never been stronger. Adam yes, tminus three days until the debt ceiling deadline hits and our next guest says there is a clearc way out. Lawmakers have to make a deals ifif they own ad business. Robert kaplan is a Harvard BusinessSchool Senior associate dean for external relatio, former vicechair of Goldman Sachs. He joins us right now. He is author of what youre rely meant to do. Letset to the point what congress is meant to do because theyre not doing it. Well have whatevers the framework of tis plan presented to the republins at 11 00 a. M. E democts have to aept it as well. One would assume harry reid negotiate ad dealot only Mitch Mcconnell can accept but democrats in the house would accept. What would you say to these people . Then i would say, im sure there will be a few scary moments because boehner and the house have to accept this. That may not be so easy . What would i say . I dont wan to minime. I know how hard this is but you and i wereust talking offcamara. Both sid get a doover here. In particular, the American People understand wanting to look at entitlements, Social Security, medicare, medicaid and entitlement reform. They undstand tax reform. So at least now t republicans think i have a very coheren negotiating position. They may not be able to come to an agreement but at least both, at least theublic understands what theyre fighting about. This got off on the wrong foot at the geto where they were talking about defunding obamacare and threats and they menver got into a negotiation. So we can get into a negotiation but you brought up an issue as did o last guest, about, for itance, negotiating i canemember as a kid, you were a kid, much younger, tip oneill and saving Securities Exchange mmission. Yeah. Adam is that what were talking about . Who are the leaders that can d that . Doesnseem aone in d. C. Has that kind o of ability. They have to do somet which i havent seen them do recently which they have to get into details. For example,. For example there is lot of work done on Social Security how to extend the life of it, whether means testing it. Raising retirement age. There is way to do it. There is analysis done on obamacare which people can get into. Both side have to get into the deils and talk specifics one thing upsets me because i think people on wall street is fascinating and impornt. We have to keep asking, is wall street paying attention to the markets and, but the markets are very shortterm shted. The discussion on leaders in soci security is not a short term iss. I snt my whole carr at Goldman Sachs in the markets. Markets, market looks at reality says there wont be fiscal progress. The fed though will help and these guys wont do anything catastrophic. Forget about all that and focus on company,. This i totally different. The people in washington have to act as, you as you said in the leadin, like owners if i were, if anything i wanted could happen in this country, what would i want and what are the details. Exactty what would i wa done . So an example of a in my opinion would be, to just, put off for one year the individual mandate i think is much more complex than been sai a insurance rates for this Country Health care are set based on individual mandate where you get healthy peoe. I dot think republicans have go through the second and third level to modify that propal. Adam on that vein, i have to tell you, that the democrats scored something in this potential deal they will delay one year the labor union priority, delay for oneear reinsurance tax. Yeah. Adam so how do you, if you got the democrats not acting in a manner, what is the hard decision we have to do here, why should republicans, raisi a very valid issue do something to prevent this kind of chaos again . I agree. This is wre you point out, leadership on both side are going to have to not just worry about their own continue when cities. Ey constituencies. They have to do a package good for the whole country. I understand why the unionlike that. I understand why dropping the device tax will appeal toome. I bet they go after both isss again before the next february deadline. Adamlet me talk to you as someone who used to be in goldman. From my 401 k standpot, im terrified whatill happen with my 401 k with roughly 25 years to go . Is i going to tank . I dont trust these people in washington. Thmarkets do react to the . The stock market, operates one way the stock market c live with dyunction in washington. Ultimate though th stock market, even th stock market assuming at some point in the next several years theyre going to fix Social Security, they will do some type of a deal helps gets fiscal trajectory. Buy a little time for fiscal policy makessers. But the market isnt optimistic about the next few years. Over the long run they believe i think stocks will be fine. Adam your lips to uncle sams ears. Yeah. Adam lets hope they actually3 deliver what needs be done. Thank you very much, steve kaplan. Robert kaplan for joining us heren money. Good to see you. Adam lots of moving pieces with the latest on debt ceiling deal. Ch edsdson is following it all in washington. Rich, bring us up t see. Speed where do we stand right now . The top democrat and republican in the sate are negotiating a deal right now. Theyre trying to work outstanding issues. They havent finalized deal. Everything could be in and out. Remember, not everything is set in stone until you age with a final deal. What the framework is looking like, keep the government open until january this. Extend the debt ceiling to february 15. Medical device tax, delay i that tax weve been hearing so much is knot part of the deal. There is another reinsurance tax theyre looking to delay. Unions would like deled. That would be a centerpiece of this. A lot of moving parts on this right now. They dont havea final deal, adam. Theyre hopeful that stipe in the next few hou th reach a final agreement. All the uncertainty how y get through the senate i time and over to the house and will the house pass it comes up. Back to you. Rich edson, thankou very much. Robert kaplans still with u i want to ask you Quick Reaction what rich reported. I want to ask you, correct me if im wrong, we dont need the october 11th deadline, as long as the bond markets believe we get the, is tat sufficient . Iithink it will really scare people and undmined confidence if this goes on much longer. So i think they need to g this done. Adam but what rich is picking up not technically. It wl be fine. Adam we can get to october 19th we be okay. I agree. Adam what rich just said, does this deliver e kind of environment in which the leaders as you describe them can come together for a real negotiation. I would put tis analogous to the patient is in the emergency room on a defibrillator. Theyre going to try to revive the patient an have a dueover. So now we can get started again with a procedurocess and have several weeks to negotiate. So, yeah,if they get this through it will work. Well have a chance to have real negoationsnd i hope make some progress. Adam hopefully the patient dii not get their insurance from one the exchangesecause tyre still having trouble with those. Robert kaplan. Thank you very much. Thank you. Adam next on mone wan to know when things are getng bad for sacs steve cohen . When he has t auction off major pieces in his reknowned art colltition. It i all the word o wall streeand we have the multimillionollar details. Debt ceiling debacle has how to find financial bls amid rampant economic uncertainty. Were bringing in the pde of bliss spa for a special treatment. Do you ever have too much money . Adam the whispers, the rumors, the behind the scenes gossip, we have it all here on money. Were not talking about washington, d. C. The spotlight is back on Hedge Fund Titan steve cohen a new report says cohen is selling three major paintings in his vast Art Collection amid rising legal business. All the word on wall street. Here with all the juicy details, ahead of the tape columnist, spencer jacob. We have to ask you. I think that is wore who Elizabeth Taylor up for sale. He cant be hurting for money. He still has 9 billion. I think he is doing okay. There are twoxplanations for actions like this. One,oure shuffling portfolio. People who own a lot of art, he has been known to buy and sell. He doesnt just accumulate. If you sell a painting ad buy other one you dont have a paint capital gain on it. He is seeing trends in the art world, being consummate trader he is is. The other explanation is that he is looking to pay some he hefty legal bills and personal fines and wants to be as liquid as possible. Difficult to show up with the d. A. s office with chagall or waol and pay that. So y want to he as much cash as possible to with th eventuity. Adam he wnts to have cash. I would thinke is a little distracted right now. It may not actually be trading of art. You talked out the fact he sold what was it, a monetor 10 years and he made 29 million when he so that. That is part o this, how do you describe it, tax credit . Yeah. You take the capital gains. You postpone it. Just lik buying and sling of real estate. If you own a building for a long time and irs has a program where you, if you buy something whin a certain amount of time that is roughl eivalent, then you dont pay capital gain. Youostpone it until you sell thathing and postpone it forever. Works the same way with art. It is possible he is playing tax games and shuffling his portfolio. Adam he is little preoccupied to do that right now . He is still trading stocks. He is still the most active trader on wall street even as we speak. A lotof clients yanked money. He is managg his own money, a considerable fortune andas his ownlients. It is possible he is not worried but business as usual. Adam almost 100 of the money that was not his. He had billion under management at one point. So now it is his personal wealth estimated at 9 billion. Right. Adam seems more plausible he is trying to create the liquidity he will need right, what theyre negotiateing a 2 billionollar settlement s that what the final figure is going to be . That is what i heard. There are numbers bandied b there is no official number. That is the thinking. That he is going to, hopeset away without any, hopes, prison time. Adam banned from the securities industry for a lifetime. He made a great amount of money. It will be a victory for him if he write as large check and still walks away a wealthy man and. Behind bars. He has not been accused of a crim it is h firm that has been accused. He is facing civil crs. Twof his assiates will come up on trial for insider trading. As we wrap this up, what are the whispers regarding steve cohen on walstreet . That this guy will get away or preet bhara will surprise us and come down hard on him . The surprise he wouldnt personally charge. Theyust don have enough evidence. They would like to charge him. They have been circling him for years but they dont have enough. When you charge someones associates then it becomes more and more dangerousus. They get, theyre incentivized to adam flip. Talk and flip. That is the real danger for steve cohen that the flip. They very much like to get their poundf flesh of actual prison time for him. There is lot of circumstantial idence but clearly not enough direct evince to nail him yet. Adam all right. So, got a coupleillion lying around, buy oe ofhese pieces of art . I think about it. Ill go by sothebys to see adam you prefer a small chagall . Exactly i g for small ones. I dont have a lot of space in my hse in the new jersey. Adam the phillipsollection has lely renoir. Boating pay luncheon. Thanks for joining us. Thank you. Adam nextn ney, how can business find bliss amid the mess in. C. . The president of bliss, bliss spa is here with h treatment to make all the economic anxieties melt away. Plus home prices are soaring and Interest Rates could be right behind them. If youre looking to flip a house, how can you stop your financial roof from caving in . Two of theop pros i the game are here for the mthly fill o flip this. Piles of money adam no matter what time it is money is on the move. Now we seeales tumbling forcing them to explore Strategic Alternatives lookg for aotential partnership hoping f a sale to bring it back from the brink but that is not be taking well. With the washington usual this the xury goods market remains almost entirely unscathed from fashion even when the the most recognized brandsn the industry was locationacross the globe we have this ceo how he keeps his customers returningut als putting the prodt in 3,000 stores you can find the bliss products. Adam and e Holding Company . Hit a new a 52 week high. Congratulations. Youre doingometng rit. 3 billion sandy were tapping into the market but their greatest potential is tight and . Also still in europe and latin america we are killing at the lee machine for your abs. Adam have to ask about gross product the natural sixck that improves the appearance of your stomach. Is that dangerous . You are playing with fire. Instead of the fat boy is the fat girl. Your skin starts to tighten it did fls fantastic give that looks a firmer. Adam has won awards the unsold out in las vegas that is sold out in florida and hongkong. Did it titans the stomachs to barradas the one that . You facecompetition with the cosmetics industry and people make a big deal out of organics. And those that come from others . When you have no competition you dont tell itell that it would is the competition. Our story is so unique id you tell it still a powerful we dont have competition. I to the leaderships stance but keep in mind just because it is natural does not mean it is good. A t of things are natural. Make sure we have the highest efficacy, and the high delight factor in every product is safe so we have no issues. Adam i cannot speak to this through experice i have never a facial but that can r anywhere between 85 and landed 200. If you walk down the street eupepsia pedicure or of medicare 0 or 30 . Price is the dog and leader but the numerator is the expectations. We always beat the expectations of the canada oxygen facially he will walk out looking and feeling fantastic that is the value. You could get a 20 facial but decree is not good did you will see the difference. If you have ever bet waxed it could be partly paid ball or a very beneficial at bliss. Adam you have something you created . All our technicians have been trained at leas five years so it is practically painless. Adam dealtallionar behind that. But congratulaons with the 52 week high wiih the big Expansion Plan to asia. 3,000 stores in 22 untries. Adam the fat girl sixpack. Wh is going on with the Housing Market . There are some specific ways you kid minimize risk if you want to flip a good find. Right now we have our real estate master and author of finding and fixing and flipped it in johnrom guerrilla capital i think of a figure because i would not be successful. Kid news sttll afflict a property like prior to the crash . Absolutely. Adam michael . Where would you look to flip . Which has the bargainbasement prices . Look for the markets we like to call me to the party. They had defied the market better the to the party just about coming bkup in price that were hitting the ttom and are a little slow to have crows potential. 3 adam according to a core logi they aint right increase year over year for 18 consecutive months a it seems to me like we missed this. Suspect a special with inrest rates or four and 1 4 . Could get 3. Eight 5 this seems that people miss the opportunity . A lot of value is fixing. Of course, buyi a stressed house but to relieve the value they add with the reid model creates such value ld you n take a home to put 30,000 into a to raise the price by 60,000 you have created value and that becomes profit. Adam whatre your top three tips . Payash . Leverage through the loan . Thes are my top three. The double succccess sttegy. Pres are going up in Interest Rates areoing up actually the whole market affordability isshrinking. What day you do to protect yourself . When you find a property that is a goodandide you have to make sure justin case you can also rent the property and let it car itself. This is fhe single small or firsttime invesr not the bigger company. That is the fir thing. Next the 20 20 buffered that means when you analyze a property i can promise it will cost you 20ercent more than you think and it will take 20 percent longer so factor that is writeup front. Adam john what is your to three tips . But the one key poi is the monthly st to carry is 1,000 make sure you can at least rented at 1,000 or walk away . That may be good for the individual investors but i disagree. We will take a loss be controlled by pre we dont ha buy the house we can control the remodel cost we decide how much that is bad we dont control the sales price. If we are wrong in the hou will not sell at 01 hundred 89,000 tn we have to keep dropping it. Th market will tell you what it sells fo. Adam you control the cost like a business controls the margin hispanic we hope our analysis is accurate and we are most times i we say we will by the hoe to put 30,000 it will sell 180 when youre done most of e time we are right. Adam then Interest Rates go up becse of the mess in washington . I will go with a gas yes. Not for another year. Adam those so tre is still an opportunity to buy those houses. Think you. Looking at the newest me and your name a and picture and comments could be coming without your permission into also will not see 1 penny. At the end of the day it is l about taking the money fr adam googleplex its users to work withoutay. So far to go plus annoue plans to show the user for those of your comments in a minute advertiment that knbc on any of the 2 million sites in the information goes up as the unpaid divorcementit is causing a lot of backlash and we are following this story with the detas but also the questions is why would they do this to the . Settled a lawsuit with the save people that were hurt by the practice but no google does aswell it it told the users to do th on friday if you have liked anything where you are on googles plus now it turns out under the terms of using that service they campbell you in the ad notes privacy people say it is already gal in many states to go gives users the chance to opt t. Who has time to look at that or understanthe procedure . But i do hava question. The whole process if people like me, email is free i ke that. You cannot get free stuff without something in return. Lso watching advertisements on their tevision. Also you just told all of your followers on facebook they like something so what is so wrong with an advertisement that you like it . But overall we dont like stf happeng without our permission but i do think we will ben a future where the user data has a value that we want to be compensated forit when that will end of controversy adam there are fake reviews hypothetically keep broad during gamble please write th you like a tide . Believe it brought the ftc has aredt has the right to go after 50 million pluggers anytime they mentioned as a product it a positive light they have to refuel the have reived it for free. So they have stepped didnt to make sure it did not happen before it costs started. Adam they paid me to write about the product . I cannot remember too many bureaucracies forcing you to say certain this they force you to reveal . Buthat is the disclaimer spirit thaakes the ball the characters atwitter. [laughter] but if you are a csumer lookinfor somethin in it turns out your friends of googles like the product thbest it word of mouth but it is a more effected when you hear it . Adam but i see your friends on febook but does it influenced me . There probably does we already go to a crowded reaurant because everybody is already goi. Adam and you are the expert i thought o buying habits were set in stone by the times we were 20. I dont tnk that is tr at all. I just tried to do to live to spa because i just saw and advertisements so i am still soluble. Adam i haveeen using crest for years. Up next and what happens when there is the electronic glitch with the food stamp cards . The entire walmarts get cleaned out. Small little spending spree and we ha all with spare change. When we made our commitment to the gulf, bp had two big goals help the gulf recover and learn from what happened so we could be when we made oua better, sarto the gulf, bp haenergy company. i can tell you safety is at the heart of erything we do. So we could be wheweve addeduttingedgesarto thetechnology,aenergy company. li a n deepwater well cap and a stateofthea motoring center, whexperts watch over all drilling activity twentyfourseven. And wereharing what weve learned, so we can all produce ener me safely. Our commitment has never been stronger. Adamit is time for spare change were joined by Monica Crowley the goddess. And i will not refer to as a goddess toda [laughter] think you for joining us this shoppinenzy at louisiana this weekend. A glitch occurred with the food stamp cards for nearly two hours there were no limits shown on that abt card and the spokeswoman said no problem they could continue purchasing but that led to a frantic freeforall that cleaned up this story and another one in the area they failed to work in 17 states on saturday people in ohio uld not buy athing in their routine test the system failed so will they pick up the tab for t over the limit spending . We will pick that up as the american taxpayer. That is the social welfare state on out of control. Though walmart spokesperson thought they were doing a nice thing that this is not their fault there is a glitch go ahead. Buteople were overloading the cart to and there was one example she overloaded her cart with so much stuff senate and 00 p. M. The card went on line is she could not process because she had 700 worth but only 0. 49 on card. They were littered with people abandoned them because they would be caught adam but they will know whos spent a and gotut of the store . Aolutely. That is the point is wean track back to those individuals but the bigger story is social media played a huge faor. And we can debate the effects of the welfare state or whether not the cards are a smart idea but i guess not you brought up the interesting point of social media they either have a mobile phone device or a comput but that points out the standard of living. Because now they arent twitter in to your point of view creates a flash mob because people say guess what . There is no limit so take advantage now you have a flash mob taking advantage. T bigger story is creance the be aware of social media at a hier level that somebody said fiasco in in the process of the realing everybody would tweet and facook thata huge problem. We could have gotten ahead of this. Adam i would not have thought of the social media. [laughter] facing your worst enemy has never paidoell. Yocan never have too much money. Whether it is on wall streeters main street everybody on netflix reportedly in talks with major cable priders to make it possible and sony would be the firs major studio to produce a show for netflix. It sent thstock soaring by 8 percent. Do theath making 24 million that its a way to start the week. The walking dead the Fourth Season premiere bryce 60 million viewe a new record it also the highest rated show in all of television with people between the ages of 18 and 49. To alltime records that were broken revenue clbing get 2. 1 billion dollars and despite e big Service Disruptions from Superstorm Sandy last year. It breaks down when i am on it. We ho you have a good day melissa will be back tomorrow wita special interview with martha stewart. Tune in the llis report is next. Warning, the following jokes are raunchy, risque, and for adults only. Suzanneyou look great. I think ill have your room sent up mine. No one rew a better party, a better black tie, alist, racy, raucous, larious party than the king of cool. Dean martin. Dean martin. Deano. Dean, youre a phenomenon. You look like cary grant and u smell like ed mcmahon. Srvista entertainment and time life present the dean mtin celebrity roasts. Dean and i have been on more floors than johnsons wax