If this keeps happening in our hightech super fast trading word just duck. Still so much we dont know, customers dont know if their orders got through and people in charge of the orders unable to tell us if they did. Focus not on lawsuit that i am sure are coming but a very disturbing pattern hard to deny, this last week, Washington Post web site hacked, New York Times news and web site down for hours, time sites, cnn cite, amazon. Com site, each hit all down, and were supposed to be relieved when they get back up . I dont know if they are connected. But i can connection dots, our mightist media, and financial sites where we shop, read, and trade, stop on a dime, costing them a lot of dimes, millions in potential revenue prose en frozen revenue because someone or something got in and messed it up. It slows trading on scores of other exchanges in chicago. In new york, and countless others. All hightech prisoners of what is now told was a glitch. Dont become forthed by act that trading in other market remain stable or treasury was looking into this. Just remember, trillions of dollars in stocks, Exchange Traded funds and options stuck. Just stuck. Heart of capitalism inable to practice capitalism, sop oism sa glitch. To nicole on how nazdaq is reacting, a statement i can not understand. They said they figured out what the in 30 minutes but then went on for hours trying to get it back up and running. They became aware price quotes not disseminated by the security processor, this issue was resolved for remaining period of time, nazdaq and other exchanges, coordinated with each other to ensure an orderly reopening of nazdaq in listed securities, they spend the rest of the day making sure they dont mess up again, should we be relieved or moto mort fid. Neil it was not orderly by the way. And you come out with a statement that is huge on acronyms or you have a community that does not know the acronym or talk your wall street jargon, did they not get the memo it is about investors. And confidence in our market. You gave a slew of things that have been happening. You had a Goldman Sachs back issue with the trades and options. So, it happens, again, and again, and again, harvey pit, former sec chairman saying today what happened at nazdaq should not have happened. You have Mary Jo White talking abbut it and our vulner billy, really, it is great they got it back up and running, but at what cost . What about people who have all money weather it is 10 or 10 million or trillion, this is a big deal not to be able to access your stocks. Neil they were sloughing it off like what you are mere humans worried about . You had all exchanged coordinating and shuts down the particular shocks like apple, google and ebay and sysco, and nyse, direct edge and nazdaq shutting down those stocks, that great they were able to coordinate but now have you sec saying they will spin it forward, meet with Market Makers and figure out what can be done in a different manner. Amazing. It made everyone nervous, and reorder, the reopening was not orderly, if was oh, 5, minutes, then 15 minutes 10 then tests. Neil you should never set a time and not open. You scare people all the more. And the ceos of the companies did not know what was going on who lost all money that was lost today. Were not hearing. Neil thank you, nicole, great reporting on this soap opera, in washington they are trying to find out what happened as well. And it could be a long 7 for answers, rich edison with the latest. You know washington has been debating Cyber Security for years, that discussion has intensified over the past year, and may pick up from here. Officials briefed president obama. And Mary Jo White of push new standards are trading systems, todays interrupttion in trading of nonetheless serious, and should reinforce our collective commitment to addressing technological vulnerabilities, and jack lew, ensured market stability said he has been updated throughout the day. Weve been aggressive on the Cyber Security front. Promoting Public Private partisan to make sure that partnership to make sure information sharing. And mediation methods are understand and deployable, sometimes there are system failures where machines break and they need to be fixed and up and running. Fbi and congressional staffers were also monitors the trading halt. We had a number of hearings when it came to the flash crash a couple years ago. Neil better to call it a flash freeze than a flash crash. Very good rich thank you. After the halt, get ready for the hit, damage to market confidence takes a longer time to come back. To nyse managing director. On what all exchange the must do now. On the need to calm investors, now. Sheryl, i begin with you, that is first thing to be addressed. A lot of folks now dont know if their trades got through or they should get back in. I think this is one thing that people fear most. Whether the technology is up to speed, and whether they will get zoomed when it isnt. Well, i think you make a good point that is really frightened a lot of people. The nazdaq shut down, has really had people scared. For investors, and traders, stop puts are like crack, they have to keep checking, and reassuring themselves, when people cant check things get ugly, remember not to panic. But a lot of people are being cautious regular people. If a woman lets say her career is going great she may think twice about putting more money in the market, because if nameless, faceless saboteurs come in, to companies they think are rock solid. Neil todd, whether it gets to that extreme. Whether it is safe or not. It has given im sure given some folks pause. A lot of friends say that nile, market was shut for 3 hours, what the heck, what do you say . Were in the real world, in 87, a quarrel committed suicide quarre squirrel committed su, and nazdaq was down for hours, if you take humans out. You wont have any more glitches, but then you dont have trading. Neil is this part of the issue . Cedric, with you, humans have been taken out of trading equation, more electronic trading computerized trading, many argue it is faster and more efficient but it does provide a breeding ground for this sort of stuff, does it not . Absolutely, one of the most important aspects of this is fact that it is not a completely human endeavor, and not completely a machine endeavor, any time you work with the systems there will be a situation where humans impact machines and machines impact the humans, in in case you have is the possibility at least, that a some kind of a malicious attack of tried on the nazdaq or somehow an insider got in and wreaked havoc on the machine, and that caused some real problems for the market. Neil there is a lottery dont know. But a lot we dont know. But, i remember that squirrel, some that went way out of control Program Trading that went amuck. But i do think still that they are th the exception rather than the norm. If it is a hacking incident. Or like others weve seen of late, it calls into question, the security of almost every site out there and that were target practice . What then . What then is right. I think that you are making a really good point about the information that is out there we keep telling our kids be careful what you put on the internet, once it is out there, it is out forever. When we think about our personal information going out and leaked or hacked or having this be of human design, someone men to mess it up minute to mess it up. That is a lot mersinister that makes people more frightened. Neil todd, you know this stuff in and out. You are the kind i sat behind to copy the test answers from. You are a genius, when i see nazdaq come out with a statement like, that it makes no sense. It reads like you know a report you get back from your radiologist after an mri, only thesthey can understand it. Nazdaq does not top put out any does not want to put out any erroneous information. Neil this one just confused the hell out of everyone. They put it out, to market participants, whether they be the Information System people. They understand what they are talking about. They have not put out the real reason. Neil seedic, that is what isome. Maybe in this age, of surveillance abuse and the like that is why i partly more cynical than i normally would be, should i be . We have to be cynical in this case, the statement that nazdaq released did not make sense to me. Neil i feel better now. If it confused you, im fine with that. And basic thing is that we really have to get our arms around the Cyber Security issue even if this was not a Cyber Security incidents. We really have to think about how as a nation we deal with this issue, it could happen tomorrow again like it did today with the nazdaq. Neil thank you all very much. A pressing news night. At least, thank god for president obama. You heard me right. Because before all this nazdaq nonsense, the president proposed something about addressing soaring College Costs that i think makes a lot of sense. I know what you are thinking, neil, take your medication. Trust me. The president pro pro proposed t brilliant. And 900 Million Dollars are changing hands online. Thats why hp built a new kind of server. One thats 80 smaller. Uses9 less energy. And costs 77 less. Its called hp moonshot. And its giving the inteet the room it needs to grow. This is gonna be b. Hp moonshot. Its time to buila better enterprise. Together. Like carpools. Polly wants to know if we can pick her up. Yeah, we can make room. Yeah. [ male announcer ]. Office space. Yes, were loving this communal seating. Its great. [ male announcer ] the best thing to share . A data plan. At t mobile share for business. One bucket of data for everyone on the plan, unlimited talk and text on smart phones. Now, everyones in the spirit of sharing. Hey, can i borrow your boat this weekend . No. [ malennouncer ] share more. Save more. At t mobile share for business. Neil this just in, i agree with something president obama proposed. I think that the president gets it on soaring College Costs, pay for performance, kind of. He wants to rate them, using measures like tuition, graduation rais rates, he wantso compare them against their ear peers and if they are worth the dough from their parents. If they dont measure up they dont get federal aid orrat least as much federal aid. Not perfect, but i like the idea of holding professors accountable as much as i like holding teachers accountable, the key is you are holding all College Personnel accountable. 3r06inproving their worth to une sam, i am smitten, i am sure my friend pat buchanan is as well. What do you make of this. Neil, you have gone rhino. Are you serious my friend . You are going to rate the colleges and universities. Who is going to do it, the department of education of barrack hussein obama, that is absurd. Neil do you want a rating system, based on cost per student leave the department of education out for a moment. Graduation rais rates, i wena high school that was competitive, you took an exam to get in, i was told, one of three of you will not graduate. Did you avoid being the one out of three . Certain look, let me tell you, what is going to happen, you get department of education, you say, look. You are okay here on the cost, but we your program, your student body is not as diverse as we like it. Neil that is not part of it, that is a fire fear, i grant you every time will department mucks it up. But we have to do something about the soaring cost. I agree. Neil i dont think you should throw the baby or the young student out with the bath water. Look, i am willing to give it a try, send to congress of united states, write rules and regulation where they deal only with finances and the rest. But some of this stuff, you know what obama does they get control of that money, then they ignore the regulations, Barry Goldwater say the, if you put money into federal regulation, federal control will follow, that is what is happening, you know. But, as i said, i dont think this is perfect, but i do think that i do know this much, every time you increase student aid or provide bigger college loans, colleges come back say, kids are covered for this well jack up the price, anything that throws that process down or polices it or has a rating or mean to address it is good. You should welcome it, this is efficiency for you. Look, an example that i would agree with, they get pehl grants instead of all to school up front at beginning of semester give at half, at end of the semester if the kid gets through and not thrown out, i would agree with that, but other things in there they will do that are not good to be quite honest about it. Neil anything is better than what we have, pat. It is not look you look at gi bill, that the way to go you gave scholarship or voucher to the guy, you can take it to Barber School or m. I. T. , where you want to go, this is saying parenting who send their kids to school, and kids are not smart enough to be taken to the cleeners they need federal help, that is the premise of your argument. Neil no, i said we need a metric, his might not be perfect but it is the first attempt any of major politician to say this is out of control. We n standard to which to judge whether the increases are justified. Here is where you are being a hater, not a believer. Here is where i think you go, if individual have to borrow money from bank theyo it to bank owork e it to bank they watch more closely where they take it, you get a massive forgiveness of the loans, people go in there knowing they spend money they are not paying it back. That is why you have trillion dollars some of the debt is outstanding, i dont think that will deal with it. But i agree someone is blocking but that is fine, i want to you practice the word gobama. The obama cavuto program is not getting through. Neil pleasure to see you. All you washington d. C. Politician who forced walmart to pack up and leave after demanding to raise their minimal wage, guess what they did. Guess where they took those job . You will never guess, ever. Neil well shop till you drop as long as you can deal with the heat, walmart prefers of heat of the nigeria. So guess what walmart is doing . Seeking other locales out away out, like africa, where it is planning on 90 stores in a a continent that welcomes the retailer, john, does it make you love walmart more or less . Makes me love it more, they will not be pushed around, dc does not walmart with a 75,000 square foot rule, a big box rule, saying lowest wage employee can be 12. 50 an hour, 50 higher than their competitors, a unfair advantage. And walmart said they wi and walmart said they will take their jobs elsewhere. Politics has hurt the very people they claim they are trying to help. Neil i dont know when you are in jackson hole or heaven. He has the greatest back screens. Neil the light is shining in. Mr. Unger . We should probably acknowledge this is not first time walmart opened up stores overseas. Neil understood. But largest single commitment to a continent. I hope that angola and walmart will be blissfully happy. If they get walmart out of this country, let main street Small Businesses continue to exist and make a profit. Neil wait a minute. All those jobs that couldnt could have been there, you are happy to have them in africa they are not going to africa. You know what is better, if they go tonighgo nigeria, walton famn have more money than 100 of the population. Neil you are a hater. Are they chained to their cash registers . I dont go into walmart. Neil you dont. I subsidize them by being an american. Neil going to saks fifth avenue is okay though. Okay you are a hater. Now, fcc cracking down on ceo, this is, early stage, it wants to focus on the gap at banks between what the ceo is made and his minions are paid, is that the governments way of saying it is policing pay, and enforcing pay. For starters, they are not cracking down on ceo pay, they are requiring companies to report how this ceos compensation stacks up. Neil what do you think that is to do . To give information to shareholders. Neil why do you think that is . You try to embarrass them to retreat the pay. With their that is policing pay. It is not. Neil really . Do Public Companies not have to reveal. Reveal. Reveal. Neil they do. Whole foods limits their Corporate Executives to 19 times average employee. Neil but they get all of food free. I dont know that. Dont make sh make me laugh m getting serious. Most Companies Work as ceo at 300 plus. Neil what do you make of that . A step in the right direction. They are not ordering anything but i think they are. I think that is what they are trying to do, a disagree with mr. Unger. They are trying to rein in pay, this is a shareholder issue. Politicians for the most part have not run a business. There is a reason that derek jeter makes more than a reserve player. The guys are ceos for reasons, government should stay out of it. Neil he is reporting in heaven, you should listen to him. He is, i wish i was there fishing, derek jeter does not get paid 300 times. Neil like 500 times. No. You think it is going to embarrass them, if it is, is there something wrong. What do may have to be embarrassed about. Why is the government trying to embarrass anybody. Why are they embarrassing them. Neil you say stick to the ratio. If you are embarrassed you may want to think about why. Neil okay. I dont get you. All right. Thank you. And nsa this is something, i dont know where rick comes out, nsa hits keep oncoming, we found out a court on to nsa abuses and warning them to cool it years ago, im talking years ago. To republican congressman to said enough, and moving to slap them down, now. Ls, and guaranteed 1second trades. And at the center of it all is a surprisingly low price just 7. 95. In fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. Im monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Neil drip, drip, stop, stop, congressman Mike Fitzpatrick had enough. Congressman, is joining me now. What do you want to do . First thank you for keeping after the federal government that is you know violating the federal privacy laws as again our citizens. I want to did im taking stock in all im hearing become in our district work periods, i