at goldman sachs in the five years i worked there in the late '90s. as my government career took me higher and higher positions, i found that also tended to elevate what i had done before so that in the telling of it, i went from being, you know, moderately senior official at goldman sachs to being a run in

goldman sachs and why he believes the white shoe firm lost its way. his book could have lessons for everyone involved in any business in america. you have to listen in. david: also how about investing in cattle? you should be prepared for some serious sticker shock. we'll go live to a cattle auction in wisconsin. i sense jeff flock in this story somewhere. liz: big business. and we lost a great american today, best-selling author tom clancy who died at the very young age of 66. ♪ wow...look at you. i've always tried to give it my best shot. these days i'm living with a higher risk of stroke due to afib, a type of irregular heartbeat, not caused by a heart valve problem. at first, i took warfarin, but i wondered, "could i up my game?" my doctor told me about eliquis. and three important reasons to take eliquis instead. one, in a clinical trial, eliquis was proven to reduce the risk of stroke better than warfarin. two, eliquis had less major bleeding than warfarin. and three... unlike warfarin, there's no routine blood testing. [ male announcer ] don'

i think if you're going to write a book about goldman sachs, i think greg was too nice. i would have ripped them a new you know what. i mean, i would have got in there and really talked about -- liz: that's when you get, the big money in the book. >> i'm just saying i think greg played it too nice. and i think mandes probably did too. to understand the culture is to understand how a harvard mba will put a knife in your back when you're looking the other way. i mean, that's goldman sachs, and if you don't cover it like that, you almost have to cover it like the mafia guys in the nba. they'll still kill you, but they went to harvard. liz: the bear stearns guys were scrappy. >> well, they'd kill you to your face. that's goldman. you've got to understand that. and by the way, that's equally treacherous. i think that's a problem. so tomorrow we're going to see it'll be gorman's time out there, and if it's better, i think it's going to be better than at least the market's saying it is if you look at the stocks today, well, it's going to be business model time. liz: so charlie'

goldman sachs they're in battery park city which is i mean a pretty clinical place to be a better place for a new office building yes no and here we have a map here this is a courtesy the new york times do you think it helps when it comes to capital efficiency being in such a clinical environment i think they're just getting ahead of the trend here there are some other major players that are coming into the area and it's good to see the general area of reviving since the horror that took place over a decade ago now as it turns out goldman folks there especially attuned to economic incentives like you were mentioning before and some goldman employees apparently a private. never having eaten inside the cost penalty window it was it was i don't know the way you know throwing that out there but apparently it does it's does exist it does and you think that other companies would be smart to kind of adopt a similar incentive to keep their or keep their employees at their desk oh i think so i mean i'd love to see trading firms do something similar or know that the trading firms they're famous f

big you know about a ruthless efficiency i want to get to this let's talk about goldman sachs. now goldman's cafeteria has been described as something out of a size five film. about a utopian future where quote nothing is ever dirty broken or unintentionally asymmetrical colvin's a love in for lunch time he even has administered a clever policy designed to engineer economically efficient lunch consumption i am not joking it is literally designed that way between the hours of eleven thirty am and one thirty pm lunch is twenty five percent more expensive than any other time during the day people are capital equipment obviously and a company who has an idea like this they obviously don't want folks standing in line at the lunch line for you know their chops sell if they want them back at their desk you think it's brilliant or despicable i think it's par for the course for goldman it makes sense given their culture i'm sure the employees don't want to be seen standing at the line during these peak peak rates for sandwiches and whatnot you know that goldman sachs is somewhat out of

. >> lewis calls the goldman sachs-a.i.g. deal one of the original sins of the looming financial crisis. other wall street firms were so jealous of the goldman deal; they got a.i.g. to insure another $30 billion of what turned out to be worthless securities. but lewis thinks the fiasco had more to do with wall street's stupidity than corruption. didn't understand these things. >> not well enough. they--they... i mean, there's a wonderful little vignette in the big short about a leading bond trader. he was subprime mortgage bond trader at morgan stanley, a fellow named howie hubler, who manages to lose somewhere between--it's hard to know-- but $7 billion and $12 billion in a matter of six or eight months, more than any single trader has ever lost in the history of wall street, and no one knows his name. >> according to lewis, at the end of 2006 and the beginning of 2007, when the commercial bank j.p. morgan became the first to recognize the danger and fled the subprime market, hubler was gobbling up $16-billion worth of subpr

being moderately senior at goldman sachs to being -- running europe for goldman sachs, which i didn't. i did know hank paulson. i met him when i was at golden sachs. what i did know when i became chief of staff was that we had -- oveready five years five years in the bush administration without a significant financial crisis. i knew from my experience at goldman and elsewhere that it is very rare that any administration can go eight years without some kind of internationally significant financial crisis. when i came in as chief of staff , i told the president that as our incumbent treasury secretary was also beginning to come to the end of his -- >> john snow? >> he had already served for over three years and was beginning to come to the end of his time. i told the president that i thought it was very important in the final three years of his presidency that we bring in a treasury secretary who have real market credibility. as preferablyravit at the head of one of the large wall street institutions. in the wake of the enron crisis, there was a great deal of reticence and government ab

goldman sachs's business, they have problem. morgan stanley controls all these brokers, 18,000. interesting business. is not the high-flying business that produces massive profits but based on the new regulations like dodd-frank which discourage trading which is goldman sachs's them over many years this is a business model that can work. it doesn't take, you need compliance but it is not you don't have to hold that much capital to do that sort of work. it is as a broker you don't need to hold the capital. if you are trading you need to hold capital so if you lose like the london whale you have some collateral. it is a different business model and it is starting to kick in. what is right about morgan stanley's this is small labor sharing their profits until they took over smith barney. that is why james gorman wanted to speed up. they bought the smith barney brokerage firm from citigroup and now they have the whole thing. >> there were questions at the time whether the smith barney guys were going to stay or now they are pretty happy because the bonuses at goldman are going down

ibm, goldman sachs, united healthcare. those three contributing all, i believe the dow has lost all of it because of those three stocks. it is not a selloff, a few down stocks. this market wants to go up. charles: it shifts. it wants to go up. i think it will be a tight range. we have these earnings that are coming in a little bit sloppy. stuart: the great charles payne disagrees with the minor league. charles: no, i agree. stuart: you said that the bias was to the downside. did you misspeak? charles: i must have. the bias is to the upside. stuart: said there for one second. i ever talk about winnebago. nicole, how big of a game? nicole: some of them are upwards of $200,000. they are seeing the demand red nude. stuart: charles saw it coming. charles: the lowest price $19. stuart: that is interesting. look at that charge. it is 28. you are holding it question i am not this hearing you now, you are holding it? here is the intro, obamacare comes out untouched. here is how some senate republicans reacted to that news. >> is de

sachs to being a run in europe for goldman sachs, which i didn't. what i did know when i became chief of staff was that we had gone already five years, already five years in the bush administration without a significant financial crisis. i knew from my experience from goldman and elsewhere that it's very rare that an administration can go for years without some kind of internationally significant financial crisis. so when i came in as chief of staff, i told the president that as our incumbent treasury secretary was beginning to come to tend of his -- >> john snow? >> john snow. he had served for three years and was beginning to come to the end of his time, i told the president that i thought that it was very important in the final three years of his presidency that we bring in a treasury secretary who had real market credibility. experience, gravitas, preferably at the head of one of the large wall street institutions. at the wake of the enron crisis and other things, there was a great deal of reticence in government generally of bringing in wall st

jpmorgan at 41% and goldman sachs at 31%. so they can do some further work on the expense to revenue ratios. >> that's a good point actually. >> they are bringing that down, mandy. that number has come down from i believe it was 68% to now in the 50s. moving in the right direction and goreman seems focused. wanted to ask you about the charts because when i look at the charts and granted, you know, you're the technician here but when i look at the chart i see a chart in a perfect uptrend. how big of a pullback would you be looking at? looking at 10% before you buy it? to me i would just buy and hold it for a long time here. >> yeah. that's the difference between being an investor and trader. looking to trade this, you know, the trader in me wants to sell it maybe on the next little peak we get above 30 and then look to buy it when it get back to the ten-day moving average. the investor in me likes this overall as you do but that's because we're above the 200 day moving average. i'm always as far as long-term holding as an inve

charlie: why would they buy more hedges on goldman sachs now? liz: they're worried about goldman and less worried about morgan. charlie: last week you and i were talking about how they were walking around. that is what it was like during the financial crisis. now look at what it is like now. liz: flip it over and you will see behold. how far morgan stanley has come. charlie: that is what it was yesterday, that is what got people talking. what is interesting is that is 115 rather than 155. that may have been my fault, but i think 115. liz: what should our viewers take away from that? >> premiere of oa brokerage fir. we deal with people average investors, this is what is going on in wall street. these are sophisticated investors saying the wall street firm that has a right business model starting with morgan stanley. if you are an investor, this is saying the risk management is better. and that basically it has got the right mix of what it does, mean the advice they brokerage channel and investment bank as opposed to the trading model that is out

up next, a conversation with the ceo of goldman sachs it lloyd blankfein. we talk about the economy, wall street and much more. he same, consider this: when the storms are this powerful, the batteries had better be powerful, too. introducing duracell quantum. only duracell quantum has a hi-density core. and that means more fuel, more power, more performance than the next leading brand. so, whether you're out on the front lines or you're back home, now you have the power. new duracell quantum. trusted everywhere. customer erin swenson ordebut they didn't fit.line customer's not happy, i'm not happy. sales go down, i'm not happy. merch comes back, i'm not happy. use ups. they make returns easy. unhappy customer becomes happy customer. then, repeat customer. easy returns, i'm happy. repeat customers, i'm happy. sales go up, i'm happy. i ordered another pair. i'm happy. (both) i'm happy. i'm happy. happy. happy. happy. happy. happy happy. i love logistics. [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeow

it was down 5% today. >>> another blow to the dow today, goldman sachs, shares fell 2.5% in the first time reporting as a dow component and now the investment blank is sla -- bank is slashing expenses. >> reporter: some may call it the curse of the dow. that's the performance of the bank's fixed income trading unit known as fic. >> not a good quarter for fic. the significant decline in revenues was driven in part by seasonally smaller activity levels seen across the industry i have and a more challenging environment. >> reporter: the revenue plunged 44% from last year's third quarter, a big reason gold man's total revenue missed estimates by almost $700 million. freeman is taking in stride. >> not even goldman sachs out performs every quarter. >> reporter: they beat estimates in the quarter at 2. 88 a share as they slashed operating expenses by 25%. the revenue miss pressured stock prompting some to speculate this comes with being one of the dow's new threest remembers, an honor that some note becomes a course. the nine new members replacing others fell 6.1% on average in the first mo

it was down 5% today. >>> another blow to the dow today, goldman sachs, shares fell 2.5% in the first time reporting as a dow component and now the investment blank is sla -- bank is slashing expenses. >> reporter: some may call it the curse of the dow. that's the performance of the bank's fixed income trading unit known as fic. >> not a good quarter for fic. the significant decline in revenues was driven in part by seasonally smaller activity levels seen across the industry i have and a more challenging environment. >> reporter: the revenue plunged 44% from last year's third quarter, a big reason gold man's total revenue missed estimates by almost $700 million. freeman is taking in stride. >> not even goldman sachs out performs every quarter. >> reporter: they beat estimates in the quarter at 2. 88 a share as they slashed operating expenses by 25%. the revenue miss pressured stock prompting some to speculate this comes with being one of the dow's new threest remembers, an honor that some note becomes a course. the nine new members replacing others fell 6.1% on average in the first mo

there are two banks in the world beating the cost of capital goldman sachs and jpm. the rest are in the learning stage and it could be 18 months. >> very interesting time for the banks. thank you very much. >> pleasure. >> equity research analyst. >>> still ahead on the program, how could u.s. debt default impact your retirement nest egg? coming up, we'll have the answer and how you can protect yourself. >>> first, how the international markets closed today. >>> some good news for a change for motor city. bar clay's bank will provide the cash strapped city of detroit with up to $350 million. the fie gnanancing helps make investments in infa structure and end at a discount. >>> long wait times,er r error messages shopping people from shopping for health insurance plans, part of the affordable care act and now experts say administration has more than a month to fix the woes or risk jeopardizing signing up millions of americans in the 36 states that don't offer their own online marketplaces. >>> we've been reporting all week about the impact of the washington stalemate

there are two banks in the world beating the cost of capital goldman sachs and jpm. the rest are in the learning stage and it could be 18 months. >> very interesting time for the banks. thank you very much. >> pleasure. >> equity research analyst. >>> still ahead on the program, how could u.s. debt default impact your retirement nest egg? coming up, we'll have the answer and how you can protect yourself. >>> first, how the international markets closed today. >>> some good news for a change for motor city. bar clay's bank will provide the cash strapped city of detroit with up to $350 million. the fie gnanancing helps make investments in infa structure and end at a discount. >>> long wait times,er r error messages shopping people from shopping for health insurance plans, part of the affordable care act and now experts say administration has more than a month to fix the woes or risk jeopardizing signing up millions of americans in the 36 states that don't offer their own online marketplaces. >>> we've been reporting all week about the impact of the washington stalemate

i get it, a & f on the list that's my choice. >> goldman sachs says 39%. a & f has creativity. all those ad campaigns with the models across the billboards. here's one we want to show you. >> there you go. >> what is that exactly? >> that's you. >> what do i have? it's like an elvis look. >> you are ripped. >> working it. >> you're wearing a parka. >> looks like a weekly thing. >> once you go down wax, i shut off. goldman also has the stocks with the most down side to their price targets, so we looked at those, u.s. steel, intel, cable vision and regis philbin's favorite stock micron is on that list. what do you see for the charts here? >> when looking at the chart, you want to look at it long term, it's had such a massive run. and last time we were up here, the stock lost 90% of its value. >> guy, would you agree? >> this stock -- i mean everybody has been trying to pick a top in micron including us over the last month and a half. it's been wrong since it was 11 1/2, 12 bucks, as long as pricing is stable in that space, which it has stayed, this stock will continue. >> thanks

went to goldman sachs, jpmorgan. jpmorgan. those were the lead bankers. fox business exclusive finding out they're here at the mandarin oriental. that meeting underway at 1:30. we have every base covered to get questions out to the two leaders. they will be somewhere in manhattan tomorrow for more meetings. these are small private client meetings. then they head up to boston, chicago, then to denver, los angeles and finally san francisco. of course where twitter is based. tracy and ashley, certainly it's a different scene this time around with twitter. we saw facebook so flashy with the ipo we all can agree pretty much a technical disaster. what we're seeing with twitter a much more cautious approach to how they're approaching wall street, guys and investors. back to you. tracy: can't seem to escape us, cheryl, can they? nice work out there. ashley: good job. wherever they are tomorrow we'll probably get thrown out again. tracy: gently escorted out of security. ashley: been thrown out of better places than that. for sure. a quarter past the hour. time to

we talked about goldman sachs. jpmorgan losing money for the first time since jamie dimon has been in charge. for the first time since 2004. you know, you look at citigroup as well. and it's, it seems like it is a very tough time for these huge conglomerates? >> it's a tough time. it is a tough time for different reasons. the most surprising one for me was goldman sachs today which had a very substantial decline in revenue. melissa: yeah. >> in the big money division, ficc, fixed income and commodities. that is the bread and butter that is the business lloyd blankfein came out of. melissa: what happened there? >> we don't know exactly what happened. they said basically that client business dried up a lot towards the end of the quarter. what the suspicion is though they got caught on the wrong end of trades. the banks hold securities and take positions just in the normal order of client business, not is what is normally considered prop trading. september was extremely volatile month because the fed pulled back from

and something like 400 goldman sachs. but it means that, that gorman is now getting credit for being a better risk manager, then, let me make this point, the premier risk management firm in the country which has always been goldman sachs. adam: but two things here. morgan stanley, this is before mr. gorman was ceo, you know they have never been held accountable for their role in the selling, securitizing of mortgage-backed securities and they were a big player. i mean at beginning of it. >> one of the things that is problematic with i think, when you know something, maybe jon stewart should talk to his brother. jon stewart's brother workers for new york stock exchange. adam: goldman sachs gets beat up for their role but morgan stanley hasn't been beaten up and they played a role. >> larry leibowitz, jon stewart's last name is leibowitz. larry leibowitz is good friend of mine works at new york stock exchange. he would tell jon this, biggest players in securitizing mortgages was not morgan. citigroup, which every democrat i

but yesterday we learned he gets his own personal health care from his wife's goldman sachs plan. it's a cadillac plan at that. it's worth $20,000. now, to put that in perspective, a texan working a full-time minimum wage job just makes $15,080. >> yeah. look, i think part of what's going on here is a surprise about what the republican party is. i think ted cruz is not completely wrong when he makes that point that they are not necessarily the party of the wealthy. and all that i mean by that is that the tea party arm of the republican party now is actually making policies. it is behaving in a way that is, in fact, not good for the economic engines of wall street, of health insurance plans, of kind of all of these economic interests that we normally would have seen a republican party bowing to. let's just take, for example, the medicaid expansion in the states. many private hospitals, many doctors and physicians, and much of sort of the economy of many of these states would prefer for those republican governors to take the medicaid expansion because they want to be able to serve t

i bought goldman sachs this morning, because to me, goldman sachs is still, in terms of talent, the deepest company in financials, and maybe in the whole s&p 500. every individual i've ever dealt with there is top flight. they just don't miss a beat. >> i'd agree with weiss. i think goldman is a screaming buy. i think they just had a 6 bad quarter. buy it on the dip. >>> google up above a thousand bucks, and it is big news. but it's raising eyebrows on the stock exchange. >> i do worry. we're hearing things reminisent to the 1999-2000 period, that the number of hits, the number of eyeballs -- >> all right. find out from mark mahaneny whether now is the time to trade. and is there a better place to put a thousand bucks to work? we're back live on the s&p. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second 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. i'm monica santiago of fidelity investments, and low fees and commis

i'll also be joined by goldman sachs ceo lloyd blankfein. we'll talk economy, banking reform, regulations and companies he sees breaking new ground, including twitter. in a world that's changing faster than ever, we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade-proud to be ranked "best overall client experience." at a ford dea

as you know on thursday google, chipotle, ibm, and goldman sachs all reported. goldman and ibm really weighting the dow down most of the day. and later in the day google and chipotle both reporting some very significant beats both on revenue and on forward guidance. > >what's next? what's the next hot spot in the market. some are saying silver could see record numbers. > >silver sure could. particularly as it pertains to the price of gold. we've seen significant uptick in gold volatility, that's both on the backside of the crisis and the expectation that janet yellen will keep federal reserve policy very loose for a very long period of time. i think people should begin to look at more cash flowing assets. mlp's---master limited partnerships and the energy revolution that's happening here in america. it's been happening for some time and could continue. > >thank you very much lincoln. > >thanks angie. the crisis over the debt ceiling has been averted.. but. a chinese credit rating agency is going through with a downgrade on america. china's dagong credit rating a

>> goldman sachs, yes. >> yeah, that's the answer, is it? >> right, yeah. the "new york times" did this story four years ago that the plan that goldman sachs provides to its senior executives at the managing director level and higher costs $40,000 a year. now, to give some perspective, at that time a typical family plan would cost about 15 or $16,000. so it's more than double the normal cost. i don't know what a $40,000 a year health plan gets you. i'm sure it's some pretty great things. the cruz's get to deduct all of that $40,000 for tax or that income is never taxed. that's a subsidy worth about $15,000, more than it costs to cover a family of four under medicaid. so this is a crazy feature of our current health care system. and i would note, the cruz's are probably not going to get to keep their health care plan. there will be an excise tax on these extremely high-cost plans that will push employers like goldman sachs to give their employees smaller health plans, pay them more in cash. so i think the president shouldn't have said if you like your health

goldman sachs and the advocacy d.o. case had to acknowledge they had not done good and fair and adequate disclosure. and then we stopped the neither admit nor deny policy with any case where there was a parallel criminal proceeding and finding of guilt or admission. we were moving in that direction. i think it's great she's taken it to the next step. they won't be able to do that in all cases because the agency is dependent upon being able to settle a number of cases in order to use its resources for the next problem and the next fraud that's out there. but i think it's an important step forward. >> is it a resource problem? >> oh, absolutely. you know, there are lots of problems. i mean, barney frank made this comment at the end of my panel out here, that lots of things were done during the financial crisis that were stupid or ill-informed or not good business judgment but didn't rise to the level to being crimes for which people should be prosecuted. you know, i think that's right, but i also think that where we do an

adam: next on "money," former vice-cir of goldman sachs, ending the budget standoff once and for all. he says lawmakers have to act like biness owners. he is here to explain how they can finally seal a deal. >>> how bad is it for sac's stev cohen? hes now selling off some of the most valuable t in the rld. all the word on wall street. we'll give you inside scoop. maybe thenside deal. more "money" coming up. we went out and askedeople a simple question: how old is the oldest person you've known? we gave people a sticker and had themhow us. we learned a lot of us ha known someo who's lived well into tir 90s. and th's a great thing. but even though we're ving longer, one thing that hasn't changed much is the officiaretirement age. ♪ the question is how do you make re you have the money you need to eoy all of these yes. ♪ help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge chnology, like new deepwater well cap and a state-of-the-

goldman sachs had something to do with that. so did united health care. then it generally has come back. we were positive just a moment ago even though ibm is still down 6% at this hour. that was the big earnings disappointment last night. tonight we get google. the numbers are all over the board here. i won't go into that because there's a gap number, a nongap number, revenue to worry about. right now google is down $8 or almost 1% at $889. ben willis, what happened today? i mean, you might have imagined that this market would sell off on the news that they got a deal done in washington. that didn't happen. except for the ibm situation. >> we did on the opening. the markets across the world. we bought on the rumor of the government coming back to work. sold on the news. then that was a very short respite in between. off we went again. >> bought the dip. >> there was a great show today. by all rights, we could have taken a break today from all of the nonsense we lived through. but the market charged ahead and this looks like the only game in town. >> beca

it ensured toxic debt on the balance sheet goldman sachs and all these others. when they lost their bond rating it would have to post collateral and give them hundreds of cents on the dollar. hank greenberg is arguing you should not have wiped out the shareholders. why wipe out the shareholders of aig? and why cover them one hundred cents on the dollar? you bankrupted aig. listen, this case is going forward. there is a legality whether the fed and the treasury and the new york fed at the time, that is why they are involved had the legal authority to do exactly what they did. this is being fought out in court. liz: twitter, inside the nasdaq very concerned it was not chosen. when it came to what is going to be the listing for the company's share. >> a huge deal. liz: he is going to discuss this with us as well. let's hear from charlie first to get a sense of where he stands on this because you look very closely at the exchanges. >> i look at it from a business standpoint. this is a big loss for nasdaq. the nasdaq as we reported did a pretty interesting story last

adam: next on "money," former vice-chair of goldman sachs, ending the budget standoff once and for all. he says lawmakers have to act like business owners. he is here to explain how they can finally seal a deal. >>> how bad is it for sac's steve cohen? he is now selling off some of the most valuable art in the world. all the word on wall street. we'll give you inside scoop. maybe the inside deal. more "money" coming up. thank you orvie and lbur... ...alia... neil and buzz: for teaching us that you can't create the future. by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the fint comforts above. we're not simply saluting history... we're making it. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell y - safety is at the heart of evething we do. we've aed cting-edge technology, like a new deepwaterell cap and a state-of-the-art monitoring center, whe exper

i have a goldman sach's policy. what is the chos? i choice? >> why would he say that? >> i am shocked you would reference senators and what kind of deal they're getting out of this. you have members of congress who could be making $170,000 a year and they're eligible for 80% of their prep ymiums paid for by t government. people are going to be forging documents, lying about their income. they're going to be getting so much money paid for. that's why i'm shocked anybody would bring up what congress is getting out of this. it's just shameful. >> -- gold-plated insurance policy from his wife because he won't take what everybody else takes -- >> what's wrong with that? we're not paying for it. >> but, remember, one of the things obama care wanted was for employers to continue to provide for health insurance for their customers, or for their employees. what is the problem? that is such a cheap shot. >> it's a great question because -- >> -- what did he lie about? >> they asked him directly. >> he said he doesn't get -- >> nobody asked hip specifically. >> durbin did. >> i r

goldman sachs senior investment strategist and global market institute president. she is with us, she is live, she is exclusive and weighing in on the fed statement. more important if the bull rally that many of you are vested in will run out of steam. and what is holding up jpmorgan haggling with the justice department and what's likely going on behind the scenes? charlie gasparino joining us with an exclusive guest who has the insight. [ male announcer ] legalzoom has helped sta over 1 million businesses. if you have business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. ido more with less with turn youbuss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behi

b of a does it on wednesday before the open, and then there's goldman sachs. they report on thursday. yes, before the open. you've also got big tech names on tap. intel, ibm, google, all of these guys are reporting. now, according to s&p capital iqs howard silverblat, third quarter shares are expected to post another record, but sales may not be as robust, and that's the reason there's still cause for concern. back over to you. >> thank you very much, dominic chu. despite upbeat estimates, there's one name that one of our traders feels could pose sickly earnings, trying his hand is our own dan nathan. you're looking at johnson & johnson. >> without carter here, this plasma was going to get a little lonely. here's the thing. johnson & johnson has been a massive performer, up 27% on the year. it was a massive beneficiary earlier in the year when rates were really low and investors were looking for high yielding stocks. right now it's a 6% dividend yield. it's expected to grow probably high single didn'ts and it's trading at kind of an expensive multiple. my issu

then goldman sachs, they report on thursday. before the open. you also have big tech names on tap. intel, ibm, google, all of these guys are reporting. now, according to s & p capital iqs senior index analyst, third quarter earnings per share expected to post another record, but and this is a big but, sales growth may not be as robust, and that's the reason there is still cause for concern, melissa back to you. >> thank you, dominic. despite the upbeat estimates one name that one of our traders feels could post sickly earnings, trying his hand, dan, you are taking a look at johnson and johnson. >> without carter this plasma would get lonely. sickly earnings may be pushing it. johnson and johnson has been a massive performer, up 27% on the year. it was a massive beneficiary earlier in the year, when rates were low. and investors were looking for high yielding stocks. right now it has a 3% dividend yield xpekted to grow, probably high single digits, it's trading at an expensive multiple. my issue here with johnson and johnson, we look at q-3 earnings next week. it isn't that they wil

adam: let me ask you about goldman sachs. do you buy the explanation? >> all of the banks have been a drag. adam: verizon. pretty good road there. i read one analyst who said the new connection is good, but not as good as it could be. the mac that was kind of surprising. i agree with you. it sounded like a positive number when i first read it. adam: there was another positive there with verizon as well. 50% of their wireless base is now smart phones. >> smartphones are taking over. adam: i am sitting next to a woman who just got her 5s. lori: i have not even told my husband yet. i think you just busted me but i was entitled to an upgrade, though. shares of ibm are plunging to a two year low. ibm chief financial officer says the company will be dealing with the impact of the china slowdown for another couple quarters. adam: president obama says no shutdown caused completely unnecessary damage to the u.s. economy. peter barnes is live for us outside the white house where we go next. peter: we got a little bit of a preview of the future budget and debt cei

was laurie ferber formerly of goldman sachs who was the general counsel of m.f. global and ms ferber stall j.p. morgan throughout the weekend so one would think mr dimon and co should have known full well whose assets those were in other words customers anyway it's time for today's big deal. thing. thing. doesn't love movie memorabilia on must the brains and bronze be on there we go some lights the brains runs like we're in a real theater for brains and brawn behind tesla and space x. he sure does in fact he likes moving memorabilia so much that he shelled out one million dollars for the lotus face submarine car from the one nine hundred seventy s. era james bond film the spy who loved me which you just saw any plants which i'm a prop into a working submarine car now as you just saw again in the clip the original james von not sean connery fact it was roger moore and he drives a car off appear to have a the attacking helicopters the wheels retract fins emerge and with a touch of another button a rocket launch is blasting those choppers that were chasing him right

so what do you think about goldman sachs stock? andrew: i don't take lunch. i eat at my desk. they should tell everynody they have to eat at their desk. goldman stock is stuck right between this range of 150-170....the banks have been underperforming. right here at 160 it's a no touch. i would rather short it at 162 than be long here. they had very weak earnings---stock sold off on earnings. alan: these guys know how to make money. the stock's been trading really between 140 and 170 for the last few months anyway. so that target break up to 200. 250 was the high 2008. so we got a lot of upside--- andrew: and the low was 49.50 alan: they only made a billion and a half dollars last quarter. only. andrew: why did the stock sell off ? angie: topic number 3: zombie crunch---an expert said this week that america is losing money, it's killing the economy because everyone is fascinated with watching zombie shows. so is there a way to make money on this 5 billion dollar zombie industry? alan: i like the fact that you can look at hershey's as a candy play. but i think a better play is d