. >> reporter: now institutions only 80,000 homes across the united states, and morgan stanley predicts the buy to own will balloon from $17 billion to $100 billion. >> we're here to capture as many properties for our clients as possible. >> reporter: she's buying properties for some of the wall street landed. >> hedge funds across the country are realizing that our market is going from what they refer to as an owner nation to a renter nation. the rental markets is huge. >> reporter: even though the housing market is improving, a new morgan stanley report shows that homeowners who have defaulted on their mortgage will have no choice but to rent and moving the country to a rentallership society. >> the institutional investor presence is led by three large groups that appear to have pulled away from the pack. first is black stone's invitation homes. second, american homes for rental, which recently ipo'd, and third, colony american homes. >> reporter: big investors are pooling some of these homes into real estate investment trusts or reits. they're investing in real estate and said on the

the new agreement gives morgan stanley two more years to meet the goal of 1500 jobs. a... carroll county teen... says... he was just lucky... to be... in the right place../ 15-year-old... michael shearer... was working.. . in his driveway... when a van... went... out of control.... and... crashed.../. into... a phone pole... before... winding-up in the woods... shearer says... when he got to the scene.../ he... saw a small fire... under the car... so he helped the driver... pull her... three children out of the car quickly.../ . before the flames spread. < "you couldn't open the door of the van because it was dented in and all jammed up. so we were pulling them out of the drivers' side door."> the vehicle was destroyed, but no one was seriously injuried. a bad day caps off what will be a bad month for a san antonio school teacher, who'll serve 30 days in jail for bullying a bully in her class. cynthia ambrose was convicted of "official oppression," after ordering her kindergarten students to line up and take turns hitting a fellow student who was acting up. she's also been

you mentioned morgan stanley's involved somehow, an experson from that. but the facebook offering was a failure when if first came out as an ipo mostly due to the structure that led up to the actual ipo itself. so you saw a wrong-pricing model as far as the range that you d had. you saw additional stock being added in a very large way. and then, by the time we got to it, all of the air was out of the sales. >> you got to -- you have to give some of these guys credit, because, you know, james gorman, we were on the morgan stanley trading floor that day, and we were saying, hey, you know, what the heck happened here? he said, this is one day. let's wait long term. now, here we are one year later, the stock is above the ipo price. so, you know, can you really call it a botched-up -- >> yes, clearly. >> because the first day was botched? the first week. >> the first week and everything leading up to it. i would say i was born at night, but i wasn't born last night. >> you didn't fall off a truck -- >> no. he had a responsibility to make sure that everybody wa

the city's board of estimates struck a deal with morgan stanley. the firm agreed to create 15- hundred jobs... in exchange for a 3-million dollar loan that would be partially forgiven... if the goals were met. so far... 850 jobs have been created. it's news that's sitting well with the mayor. 0 7:04:10 "you forget, we had to keep morgan stanely, it was a tought competition in 2000 between baltimore and pittsburgh, andyou know how i feel about pittsburgh." the new agreement gives morgan stanley 2 more years to meet its goal. they're called eco-a-t-m's... kiosks that give you cash for used cell phones and baltimore's deputy commmissioner says they're responsible for dialing up crime in a recent rash of street robberies. while the company maintaining the booths insist there are safeguards to keep criminals from making money off their victim's phones, commanders say obviously there are flaws. 6:57:46 i think the city has done a good job of keeping those machines out we know for any good measure out there any system we think is fool proof there's indivi

morgan stanley stock price is doing well. james gorman convinced analysts he has a right business model. it is based less on risk and more on advice. that comes to one of the biggest brokerage networks in the world on wall street right now. that brokerage network is something gary cone sources are telling the fox business network have told people he is very envious of. what is interesting, those statements gary cone has made starting to get around the street is fueling speculation that goldman itself may sort of take a dive into retail brokerage. we should point out, this comes up every so often. it came up during the internet years, 1998, 1999. i have remember talking with people at goldman saying they actually entertained buying a online brokerage like ie, like a schwab. not buying brokers themselves or something like that because they needed to get what's known as retail, the average investor and that is a stable source of income and that speculation is going on. we ran this by goldman firly. pr people have no comment but

the new agreement gives morgan stanley two more years to meet the goal of 1500 jobs. this year's edition of the maryland state fair kicks off on friday and preperations are well underway. photojournalist dave larson went along with an inspector today who explained how he's making sure all the rides on the midway will be fun and safe. you can see what's new at the 132nd state fair. our "fun at the fair" special will air on the c-w baltimore on friday. it starts at seven p-m. and get all the information on this year's fair on our website. you can see stories we've done... and get links to the fair... concerts... and the schedule for all 11-days by going to foxbaltimore dot com. click on "fun at the fair" under hot topics. how are the roads looking tonight? brandi proctor has our traffic edge report. map harford bat natl pike shawan 395 map map america's new astronauts. why the end of the space shuttle program is raising questions about what they will be doing. and new revelations today about how much internet traffic the n-s-a is actually tracking... just ahead. residen

stanley chief asia pacific economists joining me from hong kong today so can you tell me what you make of this seven point five percent is it such a disaster well our finger china is going through our necessary phrase of adjustment rebalancing the economy over the. as to five years china investment too much part of it to support of the global economy because of the financial crisis by the investment it has allowed to overcapacity saw there is a needed to a skilled back investment right maybe china is a victim of bubbles perhaps after two thousand and eight. the western countries cut interest rates dramatically so the high money started to flow to flow into the emerging economies and china due to receive a lot of hard money my characters will be sick of the signature in more than one train us dollars that are part of contribute to a piece of real estate a bubble in china and it's part of the investment a story now as if the western countries are preparing to tighten monetary policy in particular only when i stage so we're seeing our hot money leaving china and other glory days so if tha

stanley chief asia pacific economist joining me from hong kong today so andy can you tell me what you make of this seven point five percent is it such a disaster well i think that china is going through our necessary phrase of adjustment rebalancing the economy over the last five years china investment to march part of it to support of the global economy because of the financial crisis but we are being versed munda has a lot to overcome perish the saw there is a needed to a skilled banking vestment right do you think maybe china is a victim of bubbles perhaps after two thousand. of the western countries cut interest rates dramatically so the high money started to flow into the emerging economies and china due to receive a lot of hard money my my characters will be sick of the signature in more than one trillion us dollars that are part of contribute to these real estate above all in china and it's part of the investment a story now as if the western countries are preparing to tighten monetary policy in particular in lieu when i stage so we're seeing our hot money leaving china and oth

stanley chief asia pacific economist joining me from hong kong today so can you tell me what you make of this seven point five percent is it such a disaster well our finger china is going through our necessary phrase of adjustment rebalancing the economy over the. last a five years china investment too much part of it to support of the global economy because of the financial crisis by the investment has led to overcapacity saw there is a needed to a skilled backing vestment right maybe china is a victim of bubbles perhaps after two thousand and eight. the western countries cut interest rates dramatically so the high money started to flow to flow into the emerging economies and china due to receive a lot of hard money my my characters will be sickening signature in more than one train us dollars that are part of contribute to these real estate a bubble in china and it's part of these over us in a story now as it is the western countries preparing to tighten monetary policy in particularly when i stage so we're seeing our hot money leaving china and other glory days that's a time when i

jpmorgan, morgan stanley and wells fargo, though, are up in terms of their share prices. but many of the markets have been wondering why would moodys do that now? treasury secretary jack lew is calling on congress to raise the u.s. debt ceiling, speaking in california on thursday, lew says lawmakers shouldn't wait for some unknowable last minute to resolve the issue. and the u.s. can't afford another self-inflicted wound. he estimates the government is weeks away from bumping up against the borrowing limit. congress returns from its summer recess next month. >>> american airlines and us airways won a trial in the u.s. government's lawsuit on the merger to start in november. that's three months earlier than the date picked by federal officials. the airline's expected trial would last ten days meaning even if they win, the deal wouldn't close until late this year. the merger was moving toward final approval this month when the justice department and six states challenged it. that is, of course, on antitrust grounds. us airways shares in frankfurt are up by 2.9%. >>> carl ic

stanley chief asia pacific economist joining me from hong kong today so can you tell me what you make of this seven point five percent is it such a disaster well i finger china is going through our necessary phrase of adjustment rebalancing the economy over the last five years china investment to march part of it to support of the global economy because of the financial crisis but we are being versed munda has a lot to overcome parachute sure there is a needed to a skilled banking version right do you think maybe china is a victim of bubbles perhaps after truth are you to. the western countries. cut interest rates dramatically so the high money started to flow into the emerging economies and china due to receive a lot of hard money my my characters will be sick of the signature in more than one trillion us dollars that are part of contribute to a piece of real estate a bubble in china and it's part of the over us in a story now as if the western countries are preparing to tighten monetary policy in particularly when i stage so we are seeing our hot money leaving china and other glory

stanley chief asia pacific economist joining me from hong kong today so can you tell me what you make of this seven point five percent is it such a disaster well our finger china is going through our necessary phrase of adjustment rebalancing the economy over the. as to five years china investment too much part of it to support of the global economy because of the financial crisis by the investment it has allowed to overcapacity saw there is a needed to a skilled back investment right maybe china is a victim of bubbles perhaps after two thousand and eight. the western countries cut interest rates dramatically so the high money started to flow to flow into the emerging economies and china due to receive a lot of hard money my my calculation will be sickening signature in more than one train us dollars that are part of contribute to these real estate a bubble in china and it's part of the so very invested in the story now as it is the western countries preparing to tighten monetary policy in particular only when i stage so we're seeing our hot money leaving china the other glory days th

stanley chief asia pacific economist joining me from hong kong today so can you tell me what you make of this seven point five percent is it such a disaster well our finger china is going through all our necessary phrase of adjustment rebalance the economy over the last five years china investment to march party to support of the global economy because of the financial crisis but we are being versed munda has a lot to overcome parish to be sure there is a need a truer skilled back investment right do you think maybe china is a victim of bubbles perhaps. to two thousand and eight. the western countries cut interest rates dramatically saw for how money started to flow to flow into the emerging economies and china due to receive a lot of hard money my my characters will be sick of the signature in more than one trillion us dollars that are part of contribute to a piece of real estate a bubble in china and it's part of the investment a story now as if the western countries are preparing to tighten monetary policy in particularly when i stage so we're seeing our hot money leaving china and

equity strategist for morgan stanley. says s&p is more likely to go down from these levels to 1600 by year end. he joins us this morning. adam, it's good to have you back. >> good morning. >> you actually do a nice thing, i think, which is you have you base case and you also layout some bull and bear cases that have wider ranges. are you leaning into either the more bullish or bearish camp aside away from your base? >> we've been arguing for some time certainly that we think the bull case is more likely. i wouldn't describe myself as bearish. in fact, i think i'm getting more bullish than some of think colleagues. you know, we've been set that 1600 target when we got more bullish on the market when we came on the program at that time. the problem is i think we've talked about this before is we have a framework where we try to model the multiple and as you know, that's tough. it's hard to bottle the multiple. >> adam, adam, hang on a second. you're saying that right now you're more bullish than most of the street? >> i thi

>> well, remember, the major broker dealers, goldman sachs, morgan stanley, actually will facilitate trading and then send the trade to the exchange to print later. so likely it's been a partial trading day on nasdaq and new york, but volume has been facilitated. liz: does it hurt ndaq, the stock itself which is getting hurt, but it could be a bit worse. >> there's no doubt there's collateral damage. these things shouldn't has happ, and it's quite surprising because nasdaq has had the least down time of all the exchanges. so you tend to expect this from new york stock exchange. it's had a legacy bee's nest of exchange-traded systems. nasdaq functions on one trading system, so it's actually quite surprising that nasdaq would go down and not new york. liz: well, nyse is also an exchange that's publicly traded, so is the intercontinental exchange, the two have merged. obviously, they'd be talking about how to avoid this, but wait a minute, do we need to get rid of our human open outcry businesses? >> these conversations happen every day, and trading's actually safer, because you actuall

they're the worst performer today on a heels of a morgan stanley report. analysts think that weaker pricing power, more supply coming to market and cost controls could work against the company. those shares, clf, down about 4% to 5% in trading today. mandy, brian, back to you. >> because it's your first day back after being on vacation, i don't want to ruin your sunshine. so i'm not going to mention the unmentionable. >> what is the unmentionable? that that stock happens to be on my stock team? >> exactly. >> by the way, cliffs natural, because i sensed you going there because you mastered the anchor nod because i saw you do this, the stock is up 5% over the past three months. >> you just killed my sunshine. >> there you go. happy ipo birthday, google. on this day in 2014 goggle went public pricing at 84 bucks a share. return a 900%. i'll never forget the day. i was on the train. one-third of the train was popping champagne bottles, the other two-thirds weeping on the floor. >> did you notice an outage on friday. it sent worldwide web traffic plummeting by

morgan stanley's chief u.s. economist vince reinhart is a former fed insider and he joins us from jackson hole. how would you handicap the odds of the fed reducing bond buying in september? >> pretty high. the only thing that would get in their way is a weak employment report. that's not in our forecast. basically they want to get started with the business of exiting qe. they want to do it under chairman bernanke's watch. they think the economy is doing better, and they can send signals through their thresholds on rate guidance. >> why are you so confident in the fed though? >> mainly because that's what they've been saying. they have said data dependent, but they've basically been avoiding mentioning low inflation, enough fomc speakers have been talking about the exit, and it just seems that they've lost confidence in the instrument qe and they think they can send rate signals better by their threshold approach. so they got a new, shiny toy. they're going to use that. >> vincent, what about rates? the ten-year

under the extension morgan stanley would need to hire an additional 50 workers in december. >>> new elected car charging stations are coming up in downtown annapolis. the mayor's announcing partnerships create today make this happen. we'll get more details today during a news conference set for 1:00. >>> a high school in baltimore county is getting a big technology upgrade. today superintendent dr. dallas danes is announcing the installation of a broadband network at woodland high school. officials say the broadband will save the county millions of dollars and enhance the school's internet cape capabilities. >>> a local nonprofit group is giving away school supplies and clothing to kids in need today. the foundation will be hosting the back to school rally from 4 until 7 at edmonson west side skill center. they're going to be august free haircuts -- offering free haircuts, face painting and other activities for the kids. now from abc2 maryland's most accurate forecast. >> satellite and radar not picking up on a whole lot in terms of rain. that's good news if you want to get out do that morn

stanley have with the commodities markets their grandfathered in right now and actually j.p. morgan is thinking about exiting so what does this have in store for the commodities markets in the future this was a giveaway i think about the gold price suppressions. morgan chase and the other big come out of the trading banks were criticized in congress the other day for dominating the commodity markets and possibly manipulating prices driving them up exploiting the markets and in ways that violate and i trust after this criticism arose and congress j.p. morgan chase announced that it was contemplating getting out of the commodities business selling its commodities business to some other operation but morgan pointedly added that it did not plan to get out of a goal. overtrading this to us was was a giveaway that morgan chase is once again here the agent of the us government and the regulating manipulate in the gold and silver markets the united states government needs morgan chase as its broker in the gold market to provide cover for the us government because the us government co

morgan morgan stanley is also in the commodity regulator sides of the issue as we've been discussing and volved shuffling pallets of metals into a warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time this you have to see investigated metals market manipulation of the silver let's just say it will as well as the do. good luck with that one white wash so you have to see and then there were bitcoins and as we discussed yesterday the state of new york launched an angry and crypto currency now the senate is involved it seems a touchy issue ironic when the first wrongness of the so-called currency. inquiries have been made and the senate wants to ensure quote ordination and going forward and to us nothing is official until formally investigated by congress and congratulation.

of morgan stanley john mack was involved nomad happened to be a major contributor to george w. bush and mr geary supervisor warned him that mack was untouchable due to his political connections so peak watts attorneys met with as you see director of enforcement and the result a case would be the first narrowed and then next testimony was delayed so the statute of limitations which we've been talking about for a match eventually ran out and mr geary complained he complained about political clout and this was a big mistake because he was promptly fired for it earlier i spoke with mr geary about his experience here's what he had to say. fired. the senate finance committee and the senate judiciary committee heard about the firing and heard about the investigation the senate open investigation of the f.c.c. that went on for eighteen months. in august of two thousand and seven the senate issued a joint report by the two committees the two committees found that the f.c.c. . had given deferential treatment preferential treatment because of his status as a prominent wall street member o

stanley have with the commodities markets there grandfathered in right now and actually j.p. more. irgun is thinking about exiting so what does this have in store for the commodities markets in the future this was a giveaway i think about the gold price suppressions. morgan chase and the other big commodity trading banks were criticised in congress the other day for dominating the commodity markets and possibly manipulating prices driving them up exploiting the markets and in ways that violate and i trust after this criticism arose and congress j.p. morgan chase announced that it was contemplating getting out of the commodities business selling its commodities business to some other operation but morgan pointedly added that it did not plan to get out of gold and silver trading this to us was was a giveaway that morgan chase is once again here the agents of the u.s. government and the regulating manipulate in the gold and silver markets the united states government needs morgan chase as its broker in the gold market to provide cover for the us government because the us governm

morgan morgan stanley is also in the commodities regulator cites the issue as we've been discussing and vaas the shuffling pallets of metals into a warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time the see you have to see investigated metals market manipulation of the silver let's just say it will as well as it do you know good luck with that one whitewash so you have to see and then there were bitcoins and as we discussed yesterday the state of new york launched an angry and a crypto currency now the senate is involved it seems a touchy issue ironic when the first wrongness of these.

morgan stanley raising the price target to $45 a share. that would be matching its intraday high that the stock traded at. currently at 38. up half of 1%. the rally that we've seen just since it's been able to start proving that it can monetize mobile is already -- has already seen the shares rally quite a bit. >> it's been very impressive just in terms of the response to it. people clearly were on their heels. people are saying the shorts were chased out of facebook. the shorts were gone. it's not a heavily shorted stock. long only saying i need exposure to this space. >> doubling the dip this morning if you want to look at that. still macro concerns and those some stock-specific, specific things that have been driving. and want to keep an eye on ibm as well. talk there about what's happening to potentially with some furloughs. there's the shares. off by a third of 1%. ibm lagging by a third of 1%. we'll see what that does for the dow which is currently pointed down 69 points, guys. >> we should mention after the bell, as well. >> couple

morgan morgan stanley is also in the commodity regulator cites the issue as we've been discussing and vaas the shuffling pallets of metals and sue and warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time this you have to see investigated metals market manipulation and that would be silver let's just say that well as well as the do you have good luck with that one whitewash so you have to see and then there were a bit coy and then as we discussed yesterday the state of new york launched and glory and currency now the senate is involved it seems a touchy issue ironic when the first wrongness of these so-called currencies inquiries have been made and the senate wants to ensure quote coordination going forward and to us nothing is official and tell formally.

. >>> this week on well track morgan stanley's asset allocation king david meets up with global discovery fund to look for hidden treasures in world markets. where are they finding buried bargains? that's next on consuelo max well wealthtrack. >>> new york life along with mainstay's family of mutual funds offers investmentan

of morgan stanley john mack was involved now matt happened to be a major contributor to george w. bush and mr geary supervisor warned him that mack was untouchable due to his political connections so peak watts attorneys met with as you see director of enforcement and the result of the case would be the first narrowed and then next testimony. was delayed so the statute of limitations which we've been talking about for mack eventually ran out and mr geary complained he complained about political clout and this was a big mistake because he was promptly fired for it earlier i spoke with mr geary about his experience here's what he had to say. was fired. the senate finance committee and the senate judiciary committee heard about the firing and heard about the investigation the senate opened an investigation of the f.c.c. that went on for eighteen months. in august of two thousand and seven the senate issued a joint report by the two committees the two committees found that the f.c.c. . had given deferential treatment preferential treatment because of his status as a prominent wall str

stanley have with the commodities markets their grandfathered in right now and actually j.p. morgan is thinking about exiting so what does this have in store for the commodities markets in the future but this was a give away i think about the gold price suppressions really morgan chase and the other big come out of the trading banks were criticized in congress the other day for dominating the commodity markets and possibly manipulating prices driving them up exploiting the markets and in ways that violate and i trust after this criticism arose and congress j.p. morgan chase announced that it was contemplating getting out of the commodities business selling its commodities business to. some other operation but morgan pointedly added that it did not plan to get out of gold and silver trading this to us was was a giveaway that morgan chase is once again here the agent of the us government and the regulating manipulate in the gold and silver markets the united states government needs morgan chase as its broker in the gold market to provide cover for the us government because the

stanley have with the commodities markets they're grandfathered in right now and actually j.p. morgan is thinking about exiting so what does this have in store for the commodities markets in the future this was a giveaway i think about the gold price suppressions. morgan chase and the other big commodity trading banks were criticised in congress the other day for dominating the commodity markets and possibly manipulating prices driving them up exploiting the markets and in ways that violate and i trust after this criticism arose and congress j.p. morgan chase announced that it was contemplating getting out of the commodities business selling its commodities business to some other operation but morgan pointedly added that it did not plan to get out of gold and silver trading this to us was was a giveaway that morgan chase is once again here the agent of the us government regulating manipulate in the gold and silver markets the united states government needs morgan chase as its broker and the gold market to. i cover for the u.s. government because the us government could not inte

stanley have with the commodities markets their grandfathered in right now and actually j.p. morgan is thinking about exiting so what does this have in store for the commodities markets in the future. because about the gold price suppressions. morgan and the other big commodity trading banks were criticised in congress the other day for dominating the commodity markets and possibly manipulating prices driving them up exploiting the markets and in ways that violate and i trust after this criticism arose and congress j.p. morgan chase announced that it was contemplating getting out of the commodities business selling its commodities business to some other operation but morgan pointedly added that it did not plan to get out of gold and silver trading this to us was was a giveaway that morgan chase is once again here the agent of the us government and the regulating manipulate in the gold and silver markets the united states government needs morgan chase as its broker and the gold market to provide cover for the us government because the us government could not intervene openly i

stanley bank of america goldman sachs citigroup j.p. morgan chase and wells fargo all announced huge airings this quarter we're back baby right not nearly not even close because those earnings are a reflection of what our money really is and that is a total complete evil big shit in that those companies don't make anything other than money the companies that make physical stuff said beth and beyond procter and gamble starbucks even those companies are reporting earnings cut the s. and p. five hundred outside of the financial industry is in shambles and to top it off inflation is starting to soar thanks to that bedroom reserves money printing policies its balance sheet was at eight hundred billion dollars the for the two thousand and eight crisis and now it's a two point eight trillion. jeremy grantham is the head of investment management firm t.m.o. who is credited with accurately. predicting every major stock market bubble for the last few decades and in april he argued our global economy shows many of the indicators of potential failu

morgan morgan stanley is also in the commodity regulator cites the issue as we've been discussing and vasya shuffling pallets of metals and warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time this you have to see investigated metals market manipulation and that would be a silver let's just say that well as well as the do you have good luck with that one whitewash so you have to see and then there were a bit coy and then as we discussed yesterday the state of new york launched an angry and effective currency now the senate is involved it seems a touchy issue ironic when the first role in this of these so-called currencies inquiries have been made and the senate wants to ensure quote coordination going forward in the u.s. nothing is official and tell formally investigated by congress and congratulations but coins now on the back and funnily enough to get a bit too long there is this group called the public company accounting oversight board whimsically peekaboo

morgan morgan stanley is also in the commodity regulator cites the issue as we've been discussing and vasya shuffling pallets of metals into a warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time this you have to see investigated metals market manipulation and that would be silver let's just say that well as well as the do you have good luck with that one whitewash so you have to see and then there were a bit coy as we discussed yesterday the state of new york launched and glory and a crypto currency is now the senate is involved it seems a touchy issue ironic when the first wrongness of these so-called currencies inquiries have been made and the senate wants to ensure quote coordination going forward and to us nothing is official and tell formally investigated by congress and congratulations but coins now in the back and funnily enough to get a bit too wonky there is this group called the public company accounting oversight board whimsically. basically if you

morgan morgan stanley is also in the commodity regulator cites the issue as we've been discussing and vasya shuffling pallets of metals and sue and warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time the c.f. to see investigated metals market manipulation and that would do so both silver let's just say it will as well as a day of coal good luck with that one whitewash so you have to see and then there were a bit coy and then as we discussed yesterday the state of new york launched and glory and currency now the senate is involved it seems a touchy issue ironic when the first wrongness of these so-called currency. inquiries have been made and the senate wants to ensure quote coordination going forward in the u.s. nothing is official and tell formally investigated by congress and congratulations but coins now on the back and funnily enough to get a bit too wonky there is this group called the public company accounting oversight board whimsically peekaboo basical

morgan morgan stanley is also when the commodity regulator cites the issue as we've been discussing and volga shuffling pallets of metals into a warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time the c.f. to see investigated metals market manipulation and that would be so both silver let's just say it.

morgan morgan stanley is also in the commodity regulator cites the issue as we've been discussing and vasya shuffling pallets of metals into and warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time this you have to see investigated metals market manipulation and that would be a silver let's just say that well as well as the do you have good luck with that one whitewash so you have to see and then there were a bit coy and then as we discussed yesterday the state of new york launched an angry and a crypto currency is now the senate is involved it seems a touchy issue ironic when the first role in this of these so-called currencies inquiries have been made and the senate wants to ensure quote coordination going forward in the u.s. nothing is official and tell formally investigated by congress and congratulations but coins they are now on the back and funnily enough to get a bit too wonky there is this group called the public company accounting oversight board whim

stanley in that will only skyrocket. joining is a real estate finance professor from george mason. welcome back. this story i mo little worried about a. this feels reminiscent of the housing boom. >> with the invisible he and -- he and, we destroyed the economy with carter and clinton and bush with the national housing policy. >> we're not invested in housing. when they bought assets extremely cheap with the housing industry. they want to turn this into a and investment. for with the obligation bonds or something similar but rental housing? that we had with the last time around as they came to the ground. >> with the mortgage backed securities desperate is so pitifully low and rates are going up but it started to go up 60 basis points so what might go up with the interest rates? with mortgage-backed securities. gerri: this sounds like another they my idea but with residential housing but i just wonder if we are in for another asset bubble. >> and i will scratch my head through the mechanics this will not be guaranteed by

morgan morgan stanley is also in the commodities regulator cites the issue as we've been discussing and vasya shuffling pallets of metals into a warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time this you have to see investigated metals market manipulation.

morgan morgan stanley is also in the commodities regulator cites the issue as we've been discussing and vasya shuffling pallets of metals into a warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time the c.f. to see investigated metals market manipulation and that would be both silver let's just say that well as well as that do you have good luck with that one whitewash so you have to see and then there were a bit coy and then as we discussed yesterday the state of new york launched an angry and crypto currency now the senate is involved it seems a touchy issue ironic when the first role in this of these so-called currencies and greens have been made and the senate wants to ensure quote ordination and going forward in the us nothing is official and tell formally investigated by congress and congratulations but coins here are now on the back and funnily enough to get a bit too long because there is this group called the public company accounting oversight board whim

morgan morgan stanley is also one the commodity regulator cites the issue as we've been discussing and vasya shuffling pallets of metals and to a warehouse to technically comply with exchange regulation the problem is that it's been taking up to eighteen months for end users such as coca-cola to get the stuff the last time this you have to see investigated metals market manipulation and that would be silver let's just say that well as well as the do you have good luck with that one whitewash so you have to see and then there were a bit coins and as we discussed yesterday the state of new york launched an angry and crypto currency now the senate is involved it seems a touchy issue ironic when the first wrongness of these so-called currency. inquiries have been made and the senate wants to ensure quote coordination going forward and to us nothing is official until formally investigated by congress and congratulations bit coins now on the back and finally enough to get a bit too warm because there is this group called the public company accounting oversight board whimsically peekaboo basi

morgan and morgan stanley they'll be flipping the units and private sales and through i.p.o. that means the last bag holder gets to once again be the public either directly or through those pesky soon to be more underfunded pension fund. bubbles and how the fed got as here with dean baker in just a minute and here is what's in your interests. i i. i. i. increasingly we live in an economy that's driven by fire that would be finance insurance and real estate now over the last three decades it's quadrupled in size relevant to the size of the rest of the economy here to discuss this and the nature of how financial bubbles are fueled and destroyed is dean baker he's the co-founder of the center for economic and policy research and also author of false prophets dean thank you for joining me so how did we get here in this fire economy over the last three decades well soused part of this long process the u.s. we had this sort of golden era coming out of world war two where we had rapid productivity rapid wage growth for broadly shared prosperity wobblies things were going right that

morgan stanley vice chairman gary kaminski is here. he'll tell you what's next. >>> plus, edward snowden finally leaving the moscow airport after being granted asylum in russia. we'll hear from the head of the nsa. >>> also marriott lowering its profit forecast for the year. we'll ask the ceo if he's worried about a slowdown in the u.s. and some concerns about the market overseas. >>> a couple hours from now motorola will inveil iunveil it phone, the moto x. jon fortt is live at the event in new york. he joins us with more. hey, jon. >> hey, carl. this year we've already seen big launches from nokia, from blackberry trying to take on samsung and apple. this is google though. they've got the fire power to pull it off, but still the stakes are high. enter the moto x. two years after google said it would spend $12 billion to buy motorola. >> we're going to build this out. >> but motorola ceo dennis woodside isn't focused on failure. his mandate from google's ceo larry page, aim high. >> larry is consistent with everybody on his team. he i

at the same time the big banks such as morgan stanley figured out the fee structure associated with these products is a great profit driver. >> that's right. cheryl: that's fine. banks do what they do. this is how they make money. >> they are the wal-mart of financial services, right? david: since we're just in kind of the beginning stages of this understanding how this hybrid system is going to work, usually when you're in the beginning stages of anything you got mistakes being made. there's not yet been a shakeout of this hybrid market, has there. >> no, not at all. we saw part of it in may and june, right? in may and june we saw volatility occur in the fixed income market. volatility in the equity market. some of the fund didn't do quite as well. they did what they were supposed to do. the volatility was less than had you been in one side or the either, right? we saw what happened in the fixed income market. big wide credit spread opening up and the market dropping. at least they reduced volatility. that is a key issue. for a baby boomer, looking towards retirement and saying i just ca

people out shopping and here is the big surprise and facebook morgan stanley raising the target price and to $45 a share. way above the $38 ipo price. we'll have the business news coming up. a lot of stocks on the move. the numbers are headed lower. >> fascinating. >>> good morning to you. >> thank you for joining us here. middle of the week now. august 7th. >>> and time now is 6:30. >>> and the crews are tearing down moment where ariel castro held three women captive for years. i want to show you video of the house coming down and a short time ago. and it is less than a week after he was sentenced. security is tight to prevent souvenir hunters from taking pieces of the home. it is called cleveland's house of horrors. >>> we have breaking news we have been following out of oakland. sand news and the shoot-out. and the little boy and now from the scene of the horrific crime. >> and andrew those are the cries and on scene and a terrible morning. and a boy was shot and killed and there is talking and witnesses. and take away the body of the baby's father. >> this is a picture of drew jac

morgan stanley opened their ninth line. first-time buyers have not materialized and and it feels like main street has not taken the bait. is there some point when after rally for the housing recovery is a truism in place? >> it's a great question. your answer is that would take the bay if ty could. the problem, of course, over the last five years the regulators have built this monster that every time there is of foreclosure we're pushing more and more of the liability. quite naturally, the mile is one of their credit record goes on in the salon. ths the natural result. candidly it is a shame this would have beea wonderful time for the middle class to get back all the wealth they lost. they are not being given the ability to do that. instead it's the big investors moving to take advantage of our raw charge which is to the white house does not want to take a vantage of this. the law of unintended consequences. charles: positive on housing in manuel see that shift from main street and to housing and everyone could get a piece.

what is morgan stanley's position on gold these days? . >> better people have come on to talk about it. i would ask your guest, fed chairman choice play any role in how you are thinking about the next 90 days? 120 days, six months? >> i think if yellen is the choice, that's considered most kin with the current policy, she is considered very consistent with the bernanke policy, anyone else would add some element of uncertainty. but i do think that this fed exit strategy can play big role. we have a certain insight as to a different way to think about that. if you think about the fed exit strategy instead as a bernanke exit strategy. he's been very clear, ever since he wrote his college thesis that the fed should be criticized in march, they raised rates too prematurely. the japanese central banks should be criticized to raising rates. too early in march of '97. aborted that recovery. so he will be the last one to be perceived as tightening policy. that's why he is going through such great lengths to show that tapering is not tightening. i

a bang, goldman sachs, bank of america and morgan stanley managed the i p 0 which is expected to come in the first half of 2014, blackstone polk went private for $18 billion, $7 billion in assumed debt in the 2007 leveraged buyout. mcdonald's says same-store sales in july rose 0.7%, same-store sales rising one.6%. european sales down 1.9%. china's july beating expectations, imports rising 5% year over year and exports jumping 10.9% compared to last july raising hopes the chinese economy could be stabilizing. that is the latest from the fox business network giving you the power to prosper. dennis: magnetic fields set to shift according to stanford researchers and nasa. the event happens once every 11 years, what does that mean to assert the inhabitants? weather beltsy forecasters joe bastardon hand at a very large core powell. thanks for being with us. what is going on here? >> magnetic law of lamb. and every 11 years, those from author to low. every other cycle, every 22 years the whole thing turns upside down. this data as the magnetic fields of the sun, and the reason you care about

. >>> morgan stanley looking to sell a minority stake in the commodity business which evens three u.s. power plants and a pipeline. the reports say the bank has been shopping the u.nit for mor than a year. it isn't close to a deal. reports say the company isn't being pressed to sell the entire business, despite ownership of physical commodities. morgan stanley stock up .75% in frankfurt. >>> chevron will pay a $2 million fine stemming from the fire at its richmond, california, refinery last august. smoke from the fire sent hundreds of residents to hospitals with breathing problems. the blaze also closed down the facility located in the san francisco, raising gasoline prices. richmond refinery accounts for 10% of the west coast fuel refining capacity. chevron stock up a third. >>> and christies has been hired to find out the value of the city's art collection. christies will advise detroit. 6,000 piece collection includes a self-portrait of vincent van gogh, a fresco by diego rivera, and a casting of rhoden's the thinker statue. >>> italian economy shrunk by less than expected. gross d

>> we've got david joining us from morgan stanley wealth management. chris wolfe is with merrill lyn lynch. good to see you both. >> hello. >> i've been saying this all hour. >> goldilocks, not too cold, not too hot. the big factors are still clicking. secondly, housing. 38% up on the new home sales. 15% up in terms of the volume on existing home sales. number three. consumer. consumer credit. consumer spending and consumer confidence and fourth is production. philly fed, chicago. and empire. enjoy the ride. as prince said, party like it's 1999. chris, what are you hearing? are they risk aversed? putting money into this thing? what are they doing? >> finaling markets that are global. good valuation and lot of discounted fear on the kind of premiums based into those. that's first. secondly, we like the u.s. story. the domestic story works very well, particularly if you talk about a small caps recovery. >> they're at the highs. you're not buying cheap. >> all they need is revenue growth. the last thing they're doing is really thinking about about that bo