Come on in out of the rain. Hello, mr. Hank. How are you doing . Pelley for a fortunate few there is the health wagon. Can you breathe for me . Pelley who are these people who come into the van . These are people that are in desperate need. They have no insurance and they usually wait, we say, until theyre train wrecks. Safer for almost 90 years, the place to go for both sophisticated and laughoutloud humor has been the new yorker magazine. Chances are, the cartoons are the first things you turn to. I suppose you came in here to show me a cartoon. Safer every wednesday, a nervous band of inkstained wretches gathers, hoping against hope to get their latest efforts published. Sam gross, for instance, pitches one of his masterpieces a dog at heavens gates asking, is there any chance of getting my testicles back . Im steve kroft. Im lesley stahl. Im morley safer. Im bob simon. Im scott pelley. Those stories tonight on 60 minutes. Energy energy, energy, energy. Its inside of all of us. Even gary here. [applause] berocca has guarana and caffeine to support mental sharpness. Oh yeah Early Morning meeting . No problem. [applause] plus, berocca has bvitamins to support physical energy. Some Assembly Required . Awww. Cherished memory. [awwwwww] im bringing down the house [applause. Laughs] two things. One package. Beroccaaaaaaaa [ telephone rings ] hows the camping trip . Well, the kids had fun but i think i slept on a rock. The best part of wakin up what are you doing . Having coffee. Ohh. Is folgers in your cup get ready to crack dunk dip. Its crabfest at red lobster the years largest variety of crab like new crab lovers trio or try new jumbo lump crab over woodgrilled salmon. Crabfest is now. But ends soon so hurry in and sea food differently male announcer its happening. Today, more and more people with type 2 diabetes are learning about longacting levemir® an injectable insulin that can give you blood sugar control for up to 24 hours. And levemir® helps lower your a1c. Levemir® is now available in flextouch® the only prefilled insulin pen with no pushbutton extension. Levemir® lasts 42 days without refrigeration. Thats 50 longer than lantus® which lasts 28 days. Today, im asking about levemir® flextouch®. female announcer levemir® is a longacting insulin, used to control high blood sugar in adults and children with diabetes and is not recommended to treat diabetic ketoacidosis. Do not use levemir® if you are allergic to any of its ingredients. The most common side effect is low blood sugar, which may cause symptoms such as sweating, shakiness, confusion, and headache. Severe low blood sugar can be serious and lifethreatening. Ask your doctor about alcohol use, operating machinery, or driving. Other possible side effects include injection site reactions. Tell your doctor about all medicines you take and all of your medical conditions. Check your blood sugar levels. Your insulin dose should not be changed without asking your doctor. Get medical help right away if you have trouble breathing swelling of your face, tongue or throat sweating, extreme drowsiness dizziness, or confusion. male announcer todays the day to ask your doctor about levemir® flextouch®. Covered by nearly all Health Insurance and medicare plans. Kroft this year marks the fifth anniversary of the current bull market on wall street, one of the longest and strongest in history. Yet u. S. Stock ownership is at a record low, and less than half of all Americans Trust banks and Financial Services some might argue, with good reason. In the past few months, state and federal authorities have launched investigations into highfrequency computerized stock trading that now controls more than half the market. As we reported last march, the probes were announced just ahead of a much anticipated book on the subject by bestselling author Michael Lewis called flash boys. In it, lewis argues that the stock market is now rigged to benefit a group of insiders that have made tens of billions of dollars exploiting computerized trading. The story is told through an unlikely cast of characters who figured out what was going on and devised a plan to correct it. Its had a huge impact on wall street, with the top u. S. Stock regulator, the securities and exchange commission, vowing to take action. Michael lewis broke the story here jus before the book came out. Whats the headline here . Michael lewis stock markets rigged. The United States stock market the most iconic market in. In global capitalism, is rigged. Kroft by whom . Lewis by a combination of the Stock Exchanges, the big wall street banks, and High Frequency traders. Kroft who are the victims . Lewis everybody who has an investment in the stock market. Kroft Michael Lewis is not talking about the stock market that you see on television every day. That ceased to be the center of u. S. Finanial activity years ago, and exists today mostly as a photo op. This is the stock market that lewis is talking about, the one where most of the trades take place now, inside hundreds of thousands of these black boxes located at more than 60 public and private exchanges, where billions of dollars in stock change hands every day with little or no public documentation. Trades are being made by thousands of Robot Computers programmed to buy and sell every stock on the market at speeds 100 times faster than you can blink an eye a system so complex, its all but invisible. Lewis if it wasnt complicated, it wouldnt be allowed to happen. The complexity disguises what is happening. If its so complicated, you cant understand it, then you cant question it. Kroft and this is all being done by computers. Lewis all being done by computers. Its too fast to be done by humans. Humans have been completely removed from the marketplace. Kroft fast is the operative word. Machines with secret programs are now trading stocks in tiny fractions of a second, way too fast to be seen or recorded on a stock ticker or computer screen, faster than the market itself. High frequency traders, big wall street firms, and Stock Exchanges have spent billions to gain an advantage of a millisecond for themselves and their customers, just to get a peek at stock market prices and orders a flash before everyone else, along with the opportunity to act on it. Lewis the insiders are able to move faster than you. Theyre able to see your order and. And play it against other orders in ways that you dont understand. Theyre able to front run your order. Kroft what do you mean front run . Lewis means theyre able to identify your desire to buy shares in microsoft and buy them in front of you and sell them back to you at a higher price. It all happens in infinitesimally small periods of time. Theres speed advantage that the faster traders have is milliseconds, some of it is fractions of milliseconds. But its enough for them to identify what youre going to do and do it before you do it, at your expense. Kroft so it drives the price up. Lewis so it drives the price up, and in turn, you pay a higher price. Kroft Michael Lewis is not the first person to allege the stock market is rigged, or that High Frequency traders are front running the market. But he was the first to find Brad Katsuyama, who is the first to figure out how it was being done. Lewis a very unlikely character, a trader at the royal bank of canada, a young canadian man named Brad Katsuyama realized that the market that he thought he knew had changed. The market seemed to be willing to sell a stock. But the minute he went to buy it, someone else bought it, the stock went up. It was as if someone knew what he was doing before he did it. Kroft back in 2008 katsuyama was 30 years old and running the royal bank of canadas stock desk in new york with 25 traders working for him. Every time one of them tried to buy a large block of stock for a client, their order would only be partially filled and the price of the stock would go up. It kept happening over and over again. Brad katsuyama the best analogy i think is that your family wants to go to a concert. You go onto stubhub, theres four tickets all next to each other for 20 bucks each. You put in an order to buy four tickets, 20 bucks each, and it says, youve bought two tickets at 20 bucks each. And you go back and those same two seats that are sitting there have now gone up to 25. Kroft whatd you think the problem was . Katsuyama i had no idea. I couldnt get answers. Kroft at first, katsuyama thought it must be that the technology at r. B. C. Was slow, until he went to stamford, connecticut, and paid a visit to one of the largest hedge funds in the world. Katsuyama the same things that i was experiencing as a trader, one of the most sophisticated hedge funds in the world was also having the same problem. Then the light bulb goes off. You say, holy cow, this is. This is a huge problem. Kroft you were determined to get to the bottom of it. Katsuyama yeah. Kroft why . Katsuyama laughs because it just didnt feel right. It didnt feel right that people who are investing on behalf of Pension Funds and Retirement Funds are getting baitand switched every single day in the market. Kroft katsuyama suspected that the problem had something to do with plumbing, the way the trades were routed through fiber optic cables from his trading desk in Lower Manhattan to the 13 public exchanges in northern new jersey. But no one would tell him exactly what happened to his orders once he hit the buy or sell button. So he put together a team of technical experts, traders and most importantly, an Irish Telecom guy named ronan ryan who was an expert on high speed fiber optic networks. Ronan ryan i knew nothing about trading until my first day at r. B. C. , when i sat in that threehour meeting on algorithms. I called my wife afterwards, and im like, holy crap, i have no idea what they just said. Kroft ryan had done work for the High Frequency traders. He knew what they were building, and he knew about the colossal amounts of money they were prepared to spend. He told brad about a Company Called spread networks that had laid a highspeed fiber optic cable from the futures market in chicago to the exchanges in new jersey. They spent 300 million just to shave three milliseconds off the fastest route, and were leasing access to High Frequency traders at 10 million a pop. Lewis from Brad Katsuyamas point of view, when he heard they were willing to spend that kind of money for milliseconds it told him that the sums involved were vast. That was one of the first questions he said he had. He says, all right, im getting ripped off, everybodys getting ripped off. But what does it add up to . And i think when he heard the story of spread networks, he realized this is tens of billions of dollars were talking about. Kroftlso knew where all the cable was buried and had detailed maps of the fastest routes from the financial district in Lower Manhattan to the various Stock Exchanges in new jersey, all calculated down to the millisecond. Ryan so i would sit there, roll out maps, and roll out this data center as a box and a line going through it. And they had no idea what i was on about. And then id be like, hey, are you guys aware of where these data centers are located . Of course youre arriving there at different time intervals. Kroft for brad, the maps turned what had been an abstract idea into something he could actually see. The first place his orders were landing was the Bats Exchange across the river in weehawken, new jersey, and High Frequency traders were lying there in wait. Lewis brad realizes, oh, my god, thats how im being front runned. Im being frontrunned because my signal gets to the Bats Exchange first, and they can beat me to all the other exchanges. Kroft it only took a tiny fraction of a second for brads trade to reach the next exchanges on the network, but the high speed traders were able to jump in front of him, buy the same stock, and drive the price up before his order arrived, producing a small profit of just one or two pennies. But it was happening to everyones trades millions of times a day. Ryan that adds up. Kroft you make it sound like a skim. Ryan what else would you call it . Lewis one Hedge Fund Manager said, i was running a hedge fund that was 9 billion, and that we figured that the, just our inability to make the trades the market said we should be able to make was costing us 300 million a year. That was 300 million a year in someone elses pocket. Kroft is this illegal . Lewis no. Thats the thing thats so shocking about all this. It should. Kroft well, you used the word front running. Front runnings illegal. Lewis this form of front running is legal. Its legalized front running. Its crazy that its legal for some people to get advance news on prices and what investors are doing. Its just nuts. Shouldnt happen. Kroft ronan knew the only way to beat the High Frequency traders was to take away their milliseconds advantage that allowed them to sniff out slower trades and beat them to the exchange. He had an idea how to do it. Katsuyama and he said, youre probably better off trying to go slower, which means send the order to the exchange located the farthest away first and send the order to the one thats located closest to you last. So stagger when you send them out with the goal of arriving at all places as close to the same time as possible. Kroft katsuyama and his team developed software that did just that, allowing the orders of royal bank of canadas customers to reach all of the exchanges at the same time, cutting the High Frequency traders out of the equation. Katsuyama and essentially, our fill rates went to 100 . We couldnt believe it when. When we actually figured it out. Kroft so you beat speed by slowing it down. Katsuyama yeah, as crazy as that sounds. laughs kroft katsuyama and his team went out and began selling and explaining what they had discovered to the big mutual funds, Pension Funds, and institutional investors, people whod had suspicions that they were being front run but didnt know how. And nobody had really bothered or tried to figure this out until Brad Katsuyama came along. Lewis it was in nobodys interest to, correct. I spoke to dozens of investors big investors, famous investors who. Who said that, when Brad Katsuyama came into my office and laid out to me how the market was rigged, my jaw hit the floor. I mean, i knew something was wrong, i just didnt know what it was and no one had told us. Katsuyama part of those meetings led us to believe holy cow, this is. This is really something. Because some of the most sophisticated, largest Asset Managers in the world, this is the first time they were hearing this story. Kroft and some of the most famous names in the american stock market heard the pitch. Lewis the capital group, t. Rowe price, fidelity, vanguard i mean, it, one after another. He was in their offices. They said, this man walked in. Why is he going to know how the stock market operates . And. And at the end of an hour, they said, oh, my god, he understands. Kroft Hedge Fund TitanDavid Einhorn of Greenlight Capital is one of the believers. Was he able to show you how your orders were being front run . David einhorn oh, yeah. They had. They got the marker and the white board and started drawing maps and boxes, and wires and locations. And yeah, we went through it in some detail. Kroft did you find it interesting . Einhorn it was. It was. Kroft clients like einhorn do something bigger. Thats when katsuyama, a conformist even by canadian standards, decided to do something radical. In 2012, he quit his highpaying job as head trader at r. B. C. And went off with some of his team to start their own exchange. You were making good money at royal bank of canada . Katsuyama yeah, right. Kroft millions of dollars . Katsuyama right. laughs i guess. I guess Everybody Knows that now, right . Right, yeah. Kroft why did you want to go off and walk away from that job and start a Stock Exchange . Katsuyama yeah, wasnt an easy conversation to have with my. My wife, thats for sure. It almost felt like a sense of obligation to say, we found a problem. Its affecting millions and millions and millions of people. People are blindly losing money they didnt even know theyre entitled to. Its a hole in the bottom of the bucket. Kroft they set out to build an exchange funded exclusively by large traditional investors. They called it i. E. X. , the investors exchange, and quietly launched it in october with the support of some of the biggest players on wall street. And it comes with builtin speed bumps to eliminate the advantage of high speed predators. Lewis and the way they did it was they coiled 60 kilometers of fiber optic cable between themselves and the High Frequency traders computers. They call it the magic shoe box, and its a box and it looks like its got fishing line in it. But essentially, a High Frequency trader, if he tries to react on the i. E. X. Exchange his trade goes for 60 kilometers until. So hes. Hes in east jesus. Kroft so it gets there the same time as everybody else. Lewis it gets there same time as everybody elses. Kroft do you think they can game you . Ryan i think that theyll try to game us. I think the fact, though, that weve gone and met with the majority of the biggest High Frequency firms to explain what the magic shoebox is doing, and that people havent said, oh, thats rubbish, that wont work. Weve had many ask us for a backdoor, to be honest. So that says something, that itll work. Kroft the exchange is off to a strong start, although it is still very small with lots of powerful enemies that like the status quo and are trying to starve i. E. X. By discouraging customers from using them. Greenlight capitals David Einhorn is one of the investors. Do you think i. E. X. Will survive . Einhorn i think its going to succeed. I think its going to succeed in a very big way. Kroft i. E. X. Received a strong endorsement from goldman sachs, whose top executives cited it as a model for a more stable and less complicated stock market. Katsuyama were selling trust. Were selling transparency. And. And to think that trust is actually a differentiator in a service business, its kind of a crazy thought, right . Lewis why is this kid, why is he able to, all of a sudden sit at the center of the american stock market . And the answer is, when someone walks in the door who is actually trustworthy, he has enormous power. And this is the story the story of trying to restore trust to the financial markets. Cbs money watch update sponsored by glor good evening. Fed chief janet yellen meets with central bankers in jackson hole wyoming, this week. Sprint will reportedly unveil unlimited talk and text plans for as it littlesultan of brunei is bidding to buy a series of new york hotel, including new yorks famed plaza. Im jeff glor, cbs news. Good job still running in the morning . Yeah. Getting your vegetables every day . When i can. [ bop ] [ male announcer ] couldve had a v8. Two full servings of vegetables for only 50 delicious calories. Meet lance. Lance is thinking about switching to samsung though hes not ready to admit it. Besides, its not like hes thinking about it all the time. [hushed] but he is. [whisper] i am. Of course you are. Luckily for lance, there is a place where he can take samsung for a testdrive and where its easy to make the switch. The Samsung Experience shop, only at best buy. Trade in any working smartphone and get 50 towards the purchase of select Samsung Galaxy smartphones. Pelley more than eight Million People have signed up for obamacare. But many others have been left out. Millions of americans cant afford the new Health Insurance exchanges. For the sake of those people obamacare told the states to expand medicaid, the Government Insurance for the very poor. But 24 states declined. So, in those states, nearly five Million People are falling into a gap they make too much to qualify as destitute for medicaid, but not enough to buy insurance. As we first showed you in april, we met some of these people when we tagged along in a busted rv called the health wagon, medical mercy for those left out of obamacare. The tight folds of the cumberland mountains mark the point of western virginia that splits kentucky and tennessee the very center of appalachia, a land rich in soft coal and hard around wise county, folks are welcomed by storefronts to remember what life was like before unemployment hit 9 . Teresa gardner the roads are narrow and windy curves, so its not easy to drive the bus. Pelley this is Teresa Gardners territory. She cant be more than 5,4 but she muscles the bus through the hollers, deaf to the complaints of a 13yearold winnebago thats left its best miles behind it. Gardner having problems seeing here. Pelley you really cant see. The wipers are nearly shot and the defrosters out cold. There you go, you can see a little better now. laughs i understand theres a hole in the floorboard here somewhere . Gardner yes, its right over there, so dont get in that area. laughs pelley the old truck may be a ruin, but like most rvs, its pretty good at discovering america. Gardner and her partner, paula meade, are Nurse Practitioners aboard the health wagon, a charity that puts free healthcare on the road. How many patients do we have on the schedule today . He was going to see what he can free up for us. Pelley the health wagon pulls up in parking lots across six counties in southwestern virginia. Yall come on in out of the rain. Pelley its not long before the waiting room is packed. Hello, mr. Hank, how you doing . Pelley . And two exam rooms are full. With advanced degrees in nursing, gardner and meade are allowed to diagnose illnesses, write prescriptions, order tests and xrays. Stick your tongue out, ah. Pelley on average, there are 20 patients a day thats recently up by 70 . The health wagon is a small operation that started back in 1980. It runs mostly on federal grants, and corporate and private donations. Blood pressure a bit high before . Just when i get aggravated. Pelley who are these people who come into the van . Paula meade they are people that are in desperate need. They have no insurance, and they usually wait, we say, until they are train wrecks. Their blood pressures come in emergency levels. We have blood sugars come in 500, 600s because they cant afford their insulin. Pelley but why do they not see a doctor or a nurse before they become, as you call it, train wrecks . Meade because they dont have any money. They dont have money to pay for labs. They dont have money to go to an e. R. And these are very proud people. They. You know, you go to the e. R. , you get a 3,500 bill. And then what do you do . Youre given a prescription, you cant fill it. Thats why theyre train wrecks. They have nowhere else to go. Pelley glenda moore had nowhere to go but the e. R. When the pain in her leg became unbearable. Her job at mcdonalds making biscuits didnt include insurance that she could afford. Glenda moore the only doctor that would see me, you had to have 114 upfront just to be seen. Pelley what does 114 mean to your Monthly Budget . Moore oh, my gosh. Thats half of my weekly pay. I make 7. 80 an hour. My paycheck was about. After taxes, about 475 every two weeks. Pelley the pain was from a blood clot. She needed lovenox, a clot buster that costs about 500 for a full treatment. Meade was she on lovenox when she was discharged from the hospital . Pelley paula meade got the call from the e. R. , which didnt want to bear the cost. The health wagon had the drug for free, and there was no charge for some stern medical advice. Meade you are going to die if you dont quit smoking, and it could be within a week. You need to stop now, okay . Pelley she took the advice to stop smoking and took lovenox, but one day she felt so bad, she went back to the e. R. Moore and they did a ct scan and an xray, and found the blood clot had went to my lung. But they also saw another mass on my lung, and then transported me to a bigger hospital. They found the lesions in my brain, so i was diagnosed with stage 4 lung cancer and brain cancer. Pelley what are the doctors telling you . Moore i start my treatment on monday, the brain radiation and he seemed very. I mean, he seemed optimistic. Pelley are you hopeful . Moore i am. I have been. I dont know, i just feel very hopeful. Pelley hope, especially when the odds are long, has always been essential to survival in appalachia. The recovery from the Great Recession hasnt arrived. In coal these days, they just take the top of the mountain and you dont need many men for that. Around here, about 1,000 were laid off in the last two years. 12 of the folks dont have enough to eat. And we met them waiting for their number at zion family ministries church, where a charity called feeding america was handing out just enough to get through a week, if you stretch. 1,654 lined up, a parking lot of possibilities for gardner, meade, and the health wagon. Theyve known these people and each other most of their lives. Youve been together since eighth grade . Meade eighth grade, yes. Pelley why do you do this work . Meade because somebody has to. You know, theres people here, you know. We always. We had dreams. We wanted to move away from here. We all. You know, we did. And then, we come back and we saw the need. And actually, theres a vulnerable population here thats different from the rest of america. I mean, there are people. You can replicate this, but were kind of forgotten. Theres no one here to take care of them but us. Pelley these patients would be taken care of in the 26 states that expanded medicaid under obamacare. The federal government pays the extra cost to the states for three years, but virginia and the others that opted out fear that the cost in the future could bankrupt them. So health wagon patients we met have fallen through this unintended gap. Do you have insurance . No, maam. Pelley have any of you tried to sign up for the president s Health Insurance plan . No. Pelley why not . Brittany phipps i cant afford it. Sissy cantrell i cant either. Pelley Sissy Cantrell was laid off from a head start center. Shes been suffering from migraines and seizures. Cantrell i cry for no reason at all, okay. Have you been seeing a counselor . Cantrell no. Okay. Pelley she came away from the health wagon with medication. Brittany phipps works more than 50 hours a week, but thats two parttime jobs, so theres no insurance for her diabetes. So youre getting your insulin phipps i am now, yeah. Pelley and if that wasnt available, where would you get the insulin . Phipps i dont know. Pelley walter laneys diabetes blinded him in one eye and threatens the other. The health wagon stabilized him and set him up with a specialist. Hey, walter, this is dr. Isaacs. Hows it going . Walter laney its going pretty good. How have youre sugars been . Laney okay. They got my blood sugars back under control. Before this year, i was in the hospital three, four times, and this year, i aint been in none since ive been seeing them. If it hadnt a been for them, i dont think id be here today. Pelley outside the church where they were handing out food, we met dr. Joe smiddy, a lung specialist whos the Health Wagons volunteer medical director. Joe smiddy this is a third world country of diabetes, hypertension, lung cancer, and c. O. P. D. Pelley dr. Smiddy drives a Second Health wagon, a tractor trailer xray lab. I guess they taught you something about radiology and all of that in medical school. Did they teach you how to drive an 18wheeler . Smiddy i did have to go to tractortrailer school. And it took a long time. Pelley was that harder than medical school, in some ways . Smiddy it was very difficult to get anyone to insure a doctor to drive a tractortrailer. Insurance companies didnt believe me. Pelley his xray screen is a window on chronic, untreated disease, including black lung from the mines. Smiddy weve seen coal workers pneumoconiosis emphysema, c. O. P. D. , enlarged hearts. Theres 15 of the 26 had significant abnormalities here today. Pelley just today . Smiddy just today. Pelley but when they leave your health wagon, they still dont have Health Insurance. How do they get treated for these things that youre finding . Smiddy we negotiate. We can talk to the hospital system. We dont leave any patient unattended. We raise money for them. Pelley you find a way. Smiddy we will find a way. Pelley they found a way to get glenda moore radiation for her brain cancer. But shed been a smoker for 25 years, and she died three months after our interview. You dont like this idea of receiving charity . Moore no. Oh, i hate it. My dad was in the military. And when he was diagnosed with cancer, he was taken care of. And i dont know, i just always assumed, you know, thats how it would work. Pelley do you think things wouldve been different if youd had an opportunity to go to a doctor more often . Moore oh, definitely. I know it would be different. Pelley the outreach to all the people like glenda moore costs the health wagon about a million and a half dollars a year a third of that is from those federal grants, and the rest from donations. Doctors volunteer and pharmaceutical Companies Donate drugs. But when we were with them. We got no electricity on the health side. Pelley . They sure could have used a new truck battery. There goes. Yay gardner can we give you all a free flu shot for helping us . Need a free flu shot, beaver . Nope. Okay. Pelley Teresa Gardner and paula meade apply for grants and travel to churches praying for donations and passing the plate. E days you say to yourself, i cant do this anymore. Meade oh, every day. Not every day, i shouldnt say every day. There are a lot of days that you go home and you get frustrated because were writing grants till 10 00 at night. Were begging for money. And youre almost in tears because were, like, okay, what are we going to do . Because ive got a family, too. It gets frustrating, it gets hard. Pelley its enough to wear you out, teresa. Gardner were pretty beat down by the end of the day on most days, really. But we do get more out of it then we ever give. Meade when you look at it practically, you think, what in the world am i thinking . But then i have that one patient that may come in and say couldnt bring you anything cant pay anything, but heres a quilt i want to give you. And i mean, when they do that and theyre so heartfelt and they put their arms around you i dont know what id do without you. Youre doing a lot better. It lets you think, okay, i was put here for a purpose. Gardner and you can do it another day. Youre a blessing to us. Well, thank you all. Yall are blessing us. Gardner its them, and thats what touches our heart. Pelley since this story first aired, meade and gardner have taken delivery of this new health wagon, and it should be out on the road in just a few weeks. But theres still no Medicaid Expansion in virginia the Republican House has turned down that request from the democratic governor. And now a cbs sports update presented by pacific life. At the windham championship, bill macatee with you camilla vijagas record his fourth pga tour victory and his first since 2010 while sang moon bayerned a spot in the fedex cup playoffs starting next week. Turning to nascar, jeff gordon held off Kevin Harvick to claim his third sprint cup victory of the season. For more sports news and information, go to cbssports. Com. Was ten. He said, you get the grades to go to col and well help out with the school of your choice. Well, i got the grades and, with dads planning and a lot of hard work im graduating today with a degree in marine biology. Im so thankful and excited about the future. [ male announcer ] for strategies on how to help your family achieve financial success, visit pacificlife. Com. If you have moderate to severe Rheumatoid Arthritis like me and youre talking to your rheumatologist about a biologic. This is humira. This is humira helping to relieve my pain and protect my joints from further damage. Doctors have been prescribing humira for ten years. Humira works by targeting and helping to block a specific source of inflammation that contributes to ra symptoms. Its proven to help relieve pain and stop further joint damage in many adults. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers including lymphoma, have happened, as have blood, liver and nervous system problems, serious allergic reactions and new or worsening heart failure. Before treatment get tested for tb. 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For nearly 90 years, the place to go for sophisticated, often cuttingedge humor has been the new yorker magazine. The very first cover in 1925 featured a caricature of a snooty new yorker of the day right down to his monocle. They called him Eustace Tilley an imaginary twit, mocking the selfimportance of both the magazine and its readers. Despite the excellence of the articles from a long list of legendary writers, those readers usually turn first to the cartoons. Weve ventured behind the scenes to see how the drawings are selected. As for the man who picks them, he could be a cartoon character himself. If theres an intersection that screams new york, new york, its 42nd and broadway times square, the theater district the greatest show on earth. New yorkers of every stripe rubbing elbows with tourists and each other. The face in the crowd is bob mankoff, new york born and bred, headed to work around the corner, to a place where laughs are born, and also laid to rest. Bob mankoff i had this idea for a cartoon. This was basically a verbal cartoon. Okay, people love to go to tuscany. And i had to sort of figure out, okay, thats good, you know tuscany is great. And what do they rave about in tuscany . The food and the people and everything. I thought of this woman on the phone, saying we loved tuscany. The cell reception was fabulous and the wifi was to die for. laughter thats a baddabing, baddaboom cartoon. No, i think this is okay. Safer mankoff is cartoon editor of the new yorker. To say he knows his stuff is an understatement. Hes studied every cartoon the magazine has published, from the roaring 20s to the present day. They form a stunning reflection of american mores and manners, the haves, the havenots; fashion, art, big business kids, pets, television, trends; and this being new york psychiatrists, of course. All told, 80,000 published cartoons. What are your. If you had to choose the five or six best. . Mankoff well, you know, i honestly. Its not just tough, its impossible in a way because you would choose different ones in different ways. Here are some great cartoons. The Charles Addams cartoon is classic. Safer addams ghoulish family is about to pour boiling oil on some christmas carolers. Mankoff the Michael Crawford cartoon. Safer its the French Army Knife all wine corkscrews. Mankoff thats a perfect cartoon. Theres a michael shaw cartoon at the tv. Safer hes saying, gays and lesbians getting married . Havent they suffered enough . Mankoff then, theres a classic Peter Steiner from 1993, the two dogs in front of the computer saying, on the internet, no one knows youre a dog. laughter the peter arno cartoon where the plane is crashing. Safer in arnos 1941 drawing, the pilot has bailed out, and the engineer is saying, well, back to the old drawing board. Mankoff that phrase originates. Safer with that cartoon . Mankoff with that cartoon. And thats true of the earlier cartoon in which the mother is saying, eat it. Its broccoli, dear. Safer and the kid answers, i say its spinach, and i say the hell with it. The year was 1928. In those early days of bathtub gin and backstage musicals, it wasnt long before the magazine and the cartoons took hold in the national consciousness. In the 1933 film classic 42nd street, the new yorker had a short Product Placement role. Then there will be 13 pages in the new yorker. Safer advertisers took note. Outlining its plans to sell the new 1935 pontiac, General Motors targeted the magazines upscale readership. Just the people for whom a pontiac would serve as an ideal second car. Safer the magazine still draws an affluent crowd, numbering a million subscribers. Surprisingly, just roughly 10 live in and around new york, with the other 90 spread around the country, pockets of sophistication in the boondocks mapped out in saul steinbergs famous new yorker cover. Mankoff hey, how are you . Paul, robert, come in. I suppose you came in here to show me cartoons. Safer every wednesday, a nervous band of inkstained wretches gathers at bob mankoffs office. Mankoff well, lets see what you got here. All right. Safer . Hoping against hope to sell him a cartoon. As for what theyre paid, no ones talking. Sam gross how many have been accepted, i really dnt know. Safer theres the grizzled veteran sam gross, who figures hes submitted 30,000 cartoons give or take. 30,000 . gross yeah. Safer many consider this his masterpiece a dog at heavens gate, asking, is there any chance of getting my testicles back . Gross i still have to push the envelope. Mankoff sam has always pushed the envelope, things that you couldnt quite do. How you doing . Very well. Safer theres always a little preliminary chit chat. How you been . All right. Safer farley katz specializes in the far out, in both cartoons and facial hair. Mankoff so whats going on with that moustache . Are you still entering the contest . Katz no, i retired from the circuit. This is all, like, a recreational moustache. laughter mankoff okay. Safer and then, mankoff speedreads the rough sketches. Mankoff this is just too awkward a drawing. Safer most get rejected. Hes seen the idea in one form or another before. Carolita johnson you know how, whenever they open your bag at an airport. Safer Carolita Johnson has an Airport Security cartoon, with the t. S. A. Guy saying you can pack this back up now. Emily flake has a joke featuring both king kong and godzilla. Emily flake the two heavy hitters in the monster world. Its as simple as that. Safer maybe its just the day for facial hair, but joe dator seems to be a contender with a tarzan cartoon. Mankoff the apes are saying, we found you and raised you as one of us. So we were just wondering, at what point did you learn to shave . laughter joe dator can i say i have researched this . There is no iteration of tarzan in literature, comic books or the movies in which he has facial hair. It makes no sense. Mankoff right. Heres some of the stuff, around. Safer this is just stage one thinning out the candidates to take to the magazines editor. Mankoff this is a little too straightforward. Safer hes largely noncommittal, pleasant but blunt. Mankoff well, itin our magazine. Safer . When a drawing simply isnt good enough. Mankoff were not that impressed. Okay, next. It doesnt have enough charm. Safer the arithmetic is simple hundreds of cartoons are submitted every week, by mail, email or in person. And every week, theres only room for 17. Mankoff were picky. Ben schwartz we cry afterwards, just loads of tears. Roundtable of veteran new yorker regulars to talk about rejection ben schwartz, who gave up being a doctor to draw cartoons; david cipress, roz chast, and charlie hankin, the new kid on the block. David cipress we all probably do probably 700 or 800 cartoons a year we hand in. And its. Were lucky if we sell 30 cartoons a year, so thats a lot of rejection. Roz chast when i do a cartoon and i think, this is. Theyre going to love this one. Its a classic. Cipress thats the one that gets rejected, right . Chast that. Right away that goes into the garbage. Charlie hankin i was addicted to the rejection before i got addicted to the, you know, actually making the sales. Safer addicted to the rejection . Hankin kind of. It makes you feel alive. laughter mankoff i know what that feels like. It feels a little bit like a punch in the stomach. It always feels bad. Safer mankoff should know. Starting out, he submitted about 2,000 cartoons to the magazine before making a sale. This is one of his greatest hits no, thursdays out. How about never . Is never good for you . Hes lifted the line as the title for a memoir hes written, about his rise from the bronx to the big time. You write of your mother, molly she wasnt really an audience for my jokes; she was a target. What do you mean . That sounds cruel. Mankoff well, its freudian. My mother was this sexy, flamboyant, annoying woman to me. And also, i loved her. Safer like many an only love and pierced with sarcasm, Fertile Ground for his new yorky neuroses. Mankoff she thought i was lazy. I was lazy. Safer he talked back a lot and developed a talent for one liners and imitating jerry lewis. Mankoff you know, i would do the jerry lewis thing hey lady. And i did one of the things jerry lewis did. He had a mobile mouth, so i also had a mobile mouth. One of the first comic things that you do is imitate. David remnick i have to say, when it comes down to it, he takes humor very seriously. Safer David Remnick is editor of the new yorker, the man who makes the final decision the decider on which cartoons get published and which dont. Remnick thats kind of nice. Mankoff id go with that one. Remnick just hang on. He is always trying to figure out what makes the little time bomb work, meaning the joke, meaning the cartoon. Mankoff you dont get it . Remnick no. Hes very smart. The shell, the outward schtick is. Safer weird . Remnick comic. laughter but theres a real mind at work there. Safer one of his chapter titles in his book is, im not arguing, im jewish. laughter remnick bobs jewish . I had no idea. Thats sweet. Ooh. Thats a great drawing. Safer this time, the cartoons that make the cut include joe dators beardless tarzan. Mankoff i like the tarzan one, its crazier. Remnick crazier is better. Safer . Carolita johnsons t. S. A. Problem. Remnick i think this one safer . E kong and godzilla im telling you, manhattan is over. Mankoff brooklyn is very big. Remnick in it goes. Safer . And a cat and mouse joke by sam gross. Have you no shame . Dont get it . Youre not alone. Remnick at least five times a week, somebody will come up to me and say, i didnt get such and such a cartoon. Safer including me. Remnick well, and here is the deep secret including me once in a while. I will pick a raft of cartoons and then later, itll come time to run this cartoon. And ill look at it, and i Wont Quite Get it anymore. Because sometimes the grenade goes off in the moment and then it doesnt repeat down the line. Safer well, a friend of mine whos a new yorker writer maintains theres at least one cartoon in every issue in which youre not meant to get it. Remnick im going to keep that myth alive. laughter safer one more thing about the mad mr. Mankoff pingpong. While new yorker readers are relaxing with the cartoons mankoff pings and pongs, often with will shortz, the noted crossword puzzle editor. Mankoffs moves are half wile e. Coyote and half scarecrow from the wizard of oz. Mankoff pingpong itself theres something a little bit funny about it, in that so much aggression is spent on this tiny, little ball. So theres a pillow fight aspect to it. Safer we end, as everything does, with the grim reaper. Hes turned up in the new yorker countless times over the years. Cipress okay, so we have death. Safer in this recent david cipress cartoon, the reapers latest acquisition is saying thank goodness youre here. I cant accomplish anything unless i have a deadline. Mankoff honestly, if it wasnt for death, i dont think thered be any humor. laughs safer bob mankoff believes humor is really our way of coping with anxiety anxiety about death, about work, relationships, the state of the world, the state of your health. So heres a prescription from the cartoon doctor. Mankoff illness and death primary sources of anxiety. One way of dealing with anxiety. Safer . Is to laugh at it. Mankoff . Is to laugh at it. Grim reapers going to get the last laugh. Until then, its our turn. laughs for more new yorker cartoons, and hear about Morley Safers favorite, go to 60minutesovertime. Com. Sponsored by lyrica. It just wouldnt go away. My doctor diagnosed it as fibromyalgia, thought to be the result of overactive nerves that cause chronic, widespread pain. 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