YEAR-OVER-YEAR.
I NEED TO GET TO TESLA RIGHT
NOW.
TESLA IS STUMBLING AND CRASHING
ITS WAY TO THE BOTTOM OF THE
NASDAQ.
IF LOWER THIS MOMENT.
WE PUT IT UP ON THE SCREEN RIGHT
NOW AND YOU CAN SEE IT'S DOWN
ABOUT 40% $261.
THE ANNUAL LOW IS BELOW THIS,
$244 BUT IT IS WELL OFF THE
ANNUAL HIGH OF ABOUT $387,000.
WHAT YOU'RE SEEING HERE IS LOST
ABOUT 50% THAT MEANS IS ON TRACK
FOR THE LARGEST ONE-DAY DECLINE
SINCE 2013.
AS YOU ALREADY KNOW IF YOU BEEN
WATCHING IT SEEMED ITS
REGULATORY GUNS AT CEO ELON
MUSK.
THERE - A MOVE BRIAN JOHNSON
SAYS WOULD ERASE AND VAPORIZE AS
MUCH AS $10 BILLION MORE FROM
TESLA'S MARKET CAP AND LEAVES
YOUR PRICES WORTH JUST $210 A
SHARE.
JOHNSON WENT ON TO SAY THAT
TESLA HAS ALWAYS BEEN ABOUT WHAT
HE CALLS THE MUSK PREMIUM AND
THAT WITHOUT HIM TESLA WHO LOVE
ELON MUSK IS ALL BUT DEAD.
CHARLIE GETS PERINO, IS HERE.
CHATTERING AWAY.
HE STILL LOOKING AT HIS NOTES.
>> WE JUST GOT INTERESTING
BREAKING NEWS THAT IS NEW AND IN
ADDITION TO WHAT IS GOING ON
WITH THE STUFF WE BROKE EARLIER.
LIZ: BEFORE YOU SAID, LET'S
WATCH THE STOCK, DOWN TO 2%.
>> WHEN WE REPORTED EARLY ON
THAT THE AIR FORCE WAS LOOKING
AT THE SECURITY CLEARANCE OVER
THE POT SMOKING ON THE JOE ROGAN
PODCAST AND HE HAD A SECURITY .
LIZ: CONTRACTORS ARE NOT ALLOWED
TO BE -
>> WERE GETTING FROM SOURCES
INSIDE NOT EVEN SOURCES BUT
SENIOR OFFICIALS INSIDE THE
DEPARTMENT OF DEFENSE GOT BOOTED
UP THE DEFERMENT OF DEFENSE IS
THAT THEY ARE LOOKING AT THIS
AND TRIED TO DETERMINE WHETHER
THEY SHOULD BE RAISED TO THE
LEVEL OF INVESTIGATION OR IF
THEY IF THEY DO RAISE IT DO THEY
REJECT THE SECURITY CLEARANCE.
SECURITY -
HE'S NOT OUT-OF-THE-WAY ON THE
SECURITY .
LIZ: IT HAS A DEAL -
>> RIGHT, AND SECURITY CLEARANCE
ON THAT.
HE WENT TO TALK ABOUT THE POT
CLEARANCE AND WHAT YOU CALL IT,
SPLIT JOINT, WHATEVER YOU WANT
TO SAY.
LIZ: FATTY, DOOGIE, I'M LOOKING
IN THE URBAN DICTIONARY.
>> THIS IS NOT GONE AWAY.
THERE WERE SOME REPORTS THAT IT
WAS NOT THAT BIG OF A DEAL BUT
THIS IS NOT BEEN, HOW CAN I PUT
IT?
PAPER SHUFFLED, FILED INTO THE
WASTE .
LIZ: NOTHING OFFICIAL -
>> WE KNOW THEY'RE LOOKING AT IT
AND DECIDING WHAT TO DO.
IT IS STILL PERCOLATING.
HE IS THE SEC INVESTIGATION AND
YOU KNOW IT SERIOUS WHEN THE S
CC ABOUT AND ASK ELIZABETH I
KNOW YOU HAVE HER ON NEXT BUT
WHAT IS A MEAN WHEN THE SEC
TAKES EIGHT WEEKS TO FINISH AN
INVESTIGATION?
IT MEANS THEY THINK THEY'VE GOT
SOMETHING.
LIZ: THAT FAST BUT LET'S BRING
IN PROFESSOR ELIZABETH, FORMER
SEC ENFORCEMENT.
WANT TO GET TO THIS THOUGH.
CHARLIE IS REPORTING THAT THIS
DOES SEEM LIKE IT WAS FAST
TRACKED.
DOESN'T MEAN IT WAS OPEN OR SHUT
SITUATION?
OR WAS IT A POLITICAL PUSH YEAR?
I'D LIKE TO KNOW YOUR OPINION ON
THIS HAVING BEEN ON THE INSIDE
OF THE SEC.
>> SURE.
IT'S NOT NECESSARILY IT WAS FAST
TRACKED BUT MUSK IS OBVIOUS
ABOUT WHAT HE IS DOING.
HE TREATS AND GOES ON PODCASTS.
THE FACT-FINDING THE SEC HAD TO
DO WAS RELATIVELY
UNSOPHISTICATED.
LIZ: WELL, OKAY, BUT WHAT ABOUT
THE ARGUMENT THAT THEY HAD A
SETTLEMENT READY FOR HIM THAT
WAS NEITHER ALLOWING HIM TO DENY
OR ADMIT TO ANY WRONGDOING BUT
JUST PAY THE FINE THE LAST
SECOND HE PULLED OUT AND THEY
WENT RIGHT FOR THE FRAUD
ACCUSATION HERE.
>> RIGHT.
THE F AT IT AS EASY AS LOOKING
FOR THE EASY SETTLEMENTS.
AND TO THE EXTENT THAT THEY HAVE
A THIRD SETTLEMENT WHERE NO ONE
HAD TO MAKE ANYTHING PERHAPS IT
WOULD HAVE SERVED MUSK TO ACCEPT
THAT BUT I'M NOT EXACTLY SURE
WHY HE DID NOT ACCEPT IT SOUNDS
LIKE THE SEC DID IT TO BAR HIM
AS AN OFFICER.
>> ELIZABETH, SOURCES ARE SAYING
ESSENTIALLY THEY WANTED A BAND
FOR TWO YEARS AND I HEARD A
COUPLE YEARS SO MAYBE ONE AND A
HALF OR I HEARD A COUPLE YEARS
LOOKING FOR A BAND AS AN OFFICER
AND THAT MEANS HE CANNOT BE
CHAIRMAN CANNOT BE CEO AND MAYBE
HE COULD BEEN AN ADVISOR LIKE
SEEM LIKE A DECENT COMPROMISE
BUT THE SEC BELIEVED THAT A VERY
FAIR CASE ON HIM.
THEY BELIEVED IT WAS NOT
ADDRESSED REMOVE HE WENT OUT AND
LOWERED LAWYERED UP, CHRIS
CLARK, FORMER AUSA AND STEPHEN
BEST AND THAT TEAM REPRESENTED
MARK IN HIS CASE AGAINST THE SE
SEC.
LIZ: SUCCESSFULLY.
>> THESE GUYS ARE IMPRESSIVE.
LISTEN, THIS MAY BE A BIG DANCE
BEFORE HE GETS A BETTER
SETTLEMENT AGREEMENT LIKE
MARGINAL FINE BUT YOU DON'T
BRING IN GUYS LIKE THIS UNLESS
YOU WANT TO FIGHT.
LIZ: ELIZABETH.
>> REMEMBER WHAT THE PROBLEM IS.
THE SEC HAS TO PROVE THE MUSK
HAD THE INTENT TO DEFRAUD AND I
DON'T BELIEVE IT DID BUT I
BELIEVE HE WAS A BIG IDIOT.
LIZ:
>> TO THEY HAVE TO PROVE INTENT
AND THAT THE SAME LEVEL YOU NEED
TO PUT A PERSON A DEAL.
YOU JUST HAVE TO PROVE HE DID
NOT HAVE THE FUNDING SECURED AND
HE DID NOT REALLY TALK TO
ANYBODY AND MADE THESE
RIDICULOUS STATEMENTS.
YOU KNOW, THERE IS IMPLICIT
CONTENT FROM THE STATEMENTS ON
THE CIVIL LEVEL, ISN'T THERE?
>> SOMEONE WOULD SAY YOU CAN
INFER INTENT.
I DON'T BELIEVE THAT.
I DO NOT BELIEVE THAT FROM
READING THE SEC'S COMPLAINT.
HIS MUSCULAR RIGHT THAT ALL THE
WAY THROUGH A TRIAL OR IS HE
GOING TO PAY AND STEP DOWN?
NORMALLY THE SEC IS LONGER SO IF
THERE WILLING TO GIVE HIM OH ONE
YEAR MAYBE HE BE SMART TO TAKE
THAT.
LIZ: THE STOCK DOWN 14 AND IT -
[INAUDIBLE CONVERSATIONS]
>> I DON'T KNOW WHY HE DID NOT