The move higher . We have all that and more tonight on nightly Business Report for this tuesday, april 1st. And good evening, everyone. It was a record day on wall street for the s p 500 and the dow transports, by the way. But we begin tonight with General Motors. It is under intense scrutiny by lawmakers for safety concerns about its cars. Today its new ceo got slammed by members of the house over how the automaker midhandled the crisis. Faulty ignition switches in General Motors vehicles have been linked to 31 accidents and at least a dozen deaths over the past 13 years, prompting a massive recall. Lawmakers want to know what took gm so long, and did gm put money ahead of lives. For her part, barra attempted to reassure those lawmakers along with investors and drivers that gm cars are safe and that she and the company are terribly sorry. Eamon javers has more on todays heated testimony barras performance and whats next for gm. Reporter gm Ceo Mary Barra arrived on capitol hill this a
I think its an accidental conspiracy. I think accidental this sort of unintended consequences of regulation that was introduced in 2007 created this really screwedup Market Structure in which a lot of people have totally screwed up incentives. It is totally screwed up that brokers sell out the information of their customer order flows to High Frequency traders. Its totally screwed up to me that High Frequency traders pay exchanges for special access to price information and speed advantage. But for me, in a way, the headline of the book is spoiling for me the fun of the book. I found what attracted me to the whole thing was this idea this handful of kind of this band of brothers who were wall street insiders themselves didnt understand how the stock market worked, that the stock market got so complicated, nobody seems to understand how it worked. Accidental conspiracy suggests somehow illegality. Are you alleging there is illegality here or as matt lauer put it this morning on the inf
Tensions in the area were already raised. It happened as the United States and south korea took part in a joint military sea exercise. Its deadline day for americans looking to sign up for Insurance Coverage under president obamas health care law. In albuquerque, a march over the Fatal Police Shooting of a homeless man turned violent. Protesters threw blockrocks, blocked traffic. The search for flight 370 is ramping up. The clock is ticking down on the remaining battery life as the planes black boxes harrison oh, made it and kentucky takes the final spot at the final four the emotion, the elation goes to the huskies of the university of connecticut i take my bracket, and rip it up, and im done finished. Washington state search teams continued sifting through the muddy debris. Search dogs are being given a twoday break. An incredible rescue on a soccer field. A player from the opposite team flipped him on his back and cleared his airway. Oh, that . Ripped foul. She caught that that is i
The truth, so help you got . We will be using a timing system today. Please be aware that one minute before the red light comes on, you will see the light change from green to yellow, giving you an opportunity to conclude your remarks. All of your written testimony will be printed in the record in its entirety and we would ask that you try to limit your oral testimony to five minutes. Professor battalio, we will have you go first. Thank you again for your work. Good morning, chairman levin and Ranking Member mccain. Thank you for inviting me to testify today. Its an honor to have the opportunity to present my views on conflicts of interest. In u. S. Equity markets to the Senate Permanent subcommittee on investigations. My expertise is the relationship between order flow inducements offered by dealers and exchanges and the quality of trade execution. Before discussing my Current Research with shane coreland and Robert Jennings id like to provide a bit of context. Orders used by retailer
Testimony. All witnesses who testify before this subcommittee are required to be sworn. At this time i would both of you to please stand and raise your right hand. Do you swear that the testimony youre about to give before this subcommittee will be the truth, the whole truth, and nothing but the truth, so help you got . We will be using a timing system today. Please be aware that one minute before the red light comes on, you will see the light change from green to yellow, giving you an opportunity to conclude your remarks. All of your written testimony will be printed in the record in its entirety and we would ask that you try to limit your oral testimony to five minutes. Professor battalio, we will have you go first. Thank you again for your work. Good morning chairman levin and Ranking Member mccain. Thank you for inviting me to testify today. Its an honor to have the opportunity to present my views on conflicts of interest. In u. S. Equity markets to the Senate Permanent subcommitte