Not facebook. This ceo coming on exclusively, or even amazon. But sac capital, the embattled hedge fund founded by billionaire steven cohen facing no criminal charges of systematic insider trading. Allegedly generating hundreds of millions of dollars of illegal profit and to avoid losses and this allegedly over more than a decade. Widespread, systematic. You name it, they say they did it. We just got word from sac that it plans to operate as it works through these matters. Theyre still in business. They say that it never encouraged promoted or tolerated insidertrading. What were going to do is take a look at what might happen, why this matters to an individual investor is not have money with them as well as the billions of dollars in assets, with a might now flow. The impact on the entire Hedge Fund Industry and the trading industry because they own huge positions in a lot of stocks. Are very un Charlie Gasparino has been breaking news on this story well in advance of everyone else. Mo
ellison, and former office depot ceo steve. what is going on with that spring break is hanging unthe market. i could that the job report of the disappointing and disappointing in light of where we should be, they keep coming up with reasons that don t make a lot of sense, the good news is we re creating jobs, but we have millions less jobs than we had when the recession started, which is mostly caused by government policy in my view, the regulatory attac on business has not abated. liz: steve, you know, it is the republican stalling the president agenda. the republicans filibter. but what do you make of this, now obama administration s agenda seems stalled because of its own clumsiness, and as own wrong footedness, is that what has been going on? you know, look there has not been a jobs recovery, we re adding a little bit of jobs, sometimes it goes up a little. or down a li little. to get to get to this level we have to add this level of jobs for next 14 years, the issue
it. it s important for the economy to grow in the energy sec foras a main mover of the economy, and this is a wonderful thing. we have natural resources that we can tap safely because we ve been fracking since the early 50s, and then we have a huge proven reserve to put people to work, half a million people work in the next three years. you d have up to 2.5 million people working in 2020, massive amounts of tax revenue, billions of dollars flowing into the state coffers that need it really bad here in california, and it s a win-win-win. realize that even lisa jackson, the former epa administrator, says there s no proven case where fracking affects ground water. liz: simon, what do you think of that? i think the economic benefits are real, and i think that the governor of the state said he wants to do everything he can to make sure california realizes the benefits. two things. we got to protect public health, do it properly, and second thing, there s other business interes