Im jim cramer. Welcome to my world. Theyre nuts, theyre nuts. They know nothing i always like it say theres a bull market somewhere. Mad money, you cant afford to miss it. Im cramer. Welcome to mad money, welcome to cramerica. My job is entertain, coaching, educating so call me. After todays not so hot action, dow dipping 21 points, down 1. 2 , nasdaq off. 83 off worries the Federal Reserve may allow Interest Rates to rise because of a stronger economy, you got to ask whether the Dow Jones Industrial average in 2013, beyond that unsustainably fabulous first day of the year. Despite yesterdays rally, you got to be a little suspicious, skeptical, critical, about how poorly the dow perform last year versus the s p and nasdaq, finishing up a pathetic 7. 26 . While the nasdaq climbed 15. 9 and the s p gained 13. 4 . Who are the culprits behind the dows underperformance . Who did well, though, in a futile attempt to save the index . And whats next for the venerable but oh, so out of sync 30
Than 10 from its ipo price. Well look into why the Popular Video game not so popular on wall street. They have 100 million users, so we were talking about this earlier. Its clear those 100 million users didnt buy the stock. Not such a fan. Investors questioning whether they can do another hit among other things. Also a brawl over bitcoin. Silicon valley icon Marc Andreessen takes on of all people investing icon Warren Buffett calling him an old white guy who doesnt get tech, and i think Warren Buffett would agree with him. But fets negative view of bitcoin is what got under Marc Andreessens collar. Well get more reaction from those harsh words. Also turns out american exceptionalism extends to drug prices, and that drugs seem to cost more here in america than virtually anywhere else in the world. But why is that . Well get you some answers, tell but whats being done about it. Lets get you caught up how the trading again, this trading pattern has been very familiar. A rally on the open,
In infamy. Its a tough name to live with. It sure is. In the first interview since Bernie Madoffs arrest, his wife ruth. I trusted him. And son andrew. Thats who i am. My name is madoff. And ill live with that for the rest of my life. Speak out about crime, guilt, suicide. Mr. Madoff, what do you have to say for yourself . And the day bernie admitted to committing the largest financial fraud in history. And he said, i have a confession to make. Ive been running a ponzi scheme. [ticking] do you think you could pull off this scam today . Given the same security measures . Yep. Easily. Piece of cake. Sam eshaghoffs scam was getting paid thousands of dollars to take the s. A. T. Test for other students. He did it at least 16 times, scoring in the 97th percentile of the country. I would call him an academic gun for hire. Thats what he was. Welcome to 60 minutes on cnbc. Im bob simon. In this edition, we examine two very different kinds of fraud. Bernie madoffs wife and surviving son break t
And welcome to the closing bell. Im kelly evans in today for maria bartiromo. Bill griffith will join me in just a moment. Stocks are closing lower on concerns some members of the fed favor slowing or stopping economic stimulus earlier than maybe was previous thought. Heres how were finishing the day on wall street. The Dow Jones Industrial average pointed down by about 22 points or 0. 2 , about double that is the loss on the nasdaq today, down 0. 4 and its giving up some of its gains from yesterday, 0. 2 on the s p bit. After we saw stocks moving towards their low after the fed minutes did get a little bit of a rebound into the final minutes of trading. The lead bias was to the upside. Let get straight to the markets. While we didnt give back all of yesterdays gains, we did close off the days lows. Should investors really be concerned about the potential end of the feds easing program . Ben pace from deutsche bank, private Wealth Management is with us and greg ipp, with the economist
Captions by vitac www. Vitac. Com we begin the way anderson always does, keeping them honest, Holding People accountable for breaking their promises to you. Tonight lawmakers who told tens of millions of people facing tens of billions in damage from Superstorm Sandy we stand with you and weve got your back. Two months later massive bills are coming due and congress has failed to act. And though some bigname legislators are now scrambling to make up for it, a lot of badly hurting people are absolutely furious with what happened today in washington. People who live or once lived in places like this, seaside heights, new jersey, where entire Beachfront Community were simply washed away, or people who had to bike or walk to work or were stranded at home after the nations biggest subway system flooded and parts of it just fell right into the bay. People out on long island, where whole chunks of the power grid were blown away. A lot of homes there, by the way, as well blown away. Hospital pa