they asked moynihan, and moynihan loved the idea. to be the spokesman of the united states to the world what more could this educator want? for some reason they don't announce it, and secondly they don't tell the person who has the job. [laughter] who is a distinguished, professional diplomatment -- diplomat. the story breaks, it embarrasses pat a great deal, and other things are happening. his, his wife and family want him home. he's been away from home. they stayed in cambridge, the three children and his wife stayed in cambridge. he commuted back and forth every weekend. and he paid for it himself. and he calls me the to have lunch -- to dinner, and he asks me if i want to be his deputy, and we discuss what he wants to do at the united nations. he leaves dinner, and somewhere between the first and the fifth floor in his apartment building he says, i can't do it. and he calls his wife liz who has tears that they're not going to new york. and he writes a letter to the president, and it's an amazing letter. and he says i can't do thi

and unfortunately it would lead to problems for daniel patrick moynihan. but they started to me through these memorandums. nixon was at the stage when he was not very anxious to be sitting around his own cabinet. in the oval office, he created another office and he would invite him in and they would have conversations and the president would say what political biography should i read and pat would say read this book and so forth and so on. and then the president had a sleeping problem and he would get up in the morning and start reading these books. and they sort of said you can be like this, a conservative prime minister with liberal ideas. and where you can have your own opinion of this when suddenly it was very attractive to the president and the third mystery that has to be solved is why is richard nixon a conservative choosing us. pat had a great advantage than someone like henry kissinger. and that is why he was chosen. and that includes his campaign in 62. and how can a man so carefully success seeking the presidency avoid u.s. domestic interest. an

pat moynihan shined shoes in times square. tim's father always had a steady job driving a newspaper delivery truck for the buffalo evening news. pat moynihan's father abandoned the family when pat was 10 years old. pat's mother was a bar tender in hell's kitchen. moynihan appreciated and respected education and expertise, but he also valued political instinct and street smarts, the stuff that can't be taught. the stuff you learn shining shoes and tending bar and earning your own way through life. senator moynihan didn't say any of that to tim. he just put his arm around tim and he said let me tell you something. what they know you can learn. but what you know, they will never learn. so that's what i think about during blizzards. i was not expecting to get a ford. we went around the country talking to people who made the switch to ford. it felt nicer than my bmw. good gas mileage... ecoboost makes a four cylinder engine feel like a six cylinder. my dad went and turned in his lexus and got the exact same car as me. he had to hav

pat moynihan shined shoes in times square. tim's father always had a steady job drivering a newspaper delivery truck. pat moynihan's father abandoned the family when pat was 10 years old. pat's mother was a bar tender in hell's kitchen. moynihan valued political instinct and street smarts the stuff that can't be taught. the stuff you learn shining shoes and earning you own way through life. senator moynihan didn't say any of that to tim. he said let me tell you something, what they know you can learn. but what you know, they will never learn. so that's what i think about during blizzards. (son) oh no... can you fix it, dad? yeah, i can fix that. (dad) i wanted a car that could handle anything. i fixed it! (dad) that's why i got a subaru legacy. (vo) symmetrical all-wheel drive plus 36 mpg. i gotta break more toys. (vo) introducing the all-new subaru legacy. it's not just a sedan. it's a subaru. major: ok fitness class! here's our new trainer ensure active heart health. crowd: yayyyy! heart: i'm going to focus on the heart. i m

live interview with bank of america ceo brian moynihan. get his response to that surprise shocking move out of the swiss national bank. plus, does he think the federal reserve can raise rates this year. and on the economy and more, we'll be right back. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> it's that time of year the world economic forum kicking off in davos, switzerland. becky quick in position at ski resort and joins us with a special guest of over to you. >> thank you, simon. right now we are joined by bank of america ceo brian moynihan. and brian, it's great to see you here. you just arrived. we really appreciate you making time to come over. >> a spectacular spot on a sunny day like today. >> it is. lucky to be here. when you look around the globe, there are chaotic things happening now, markets in flux things we haven't be

that's whey that all do. >> thanks to brian moynihan. up next we are on the money. cheryl sandberg and melinda gates are two of the most infll women in business. they join me together here from dav davos. and it takes a village to raise a child. how one charter school in africa is using technology to make a profit and gave quality education for $5 a month. right now, though, as we head to a break look at how the stock market ♪ ♪ turn around ♪ every now and then i get a little bit hungry ♪ ♪ and there's nothing really good around ♪ ♪ turn around ♪ every now and then i get a little bit tired ♪ ♪ of living off the taste of the air ♪ ♪ turn around, barry ♪ finally, i have a manly chocolatey snack ♪ ♪ and fiber so my wife won't give me any more flack ♪ ♪ i finally found the right snack ♪ ♪ >>> welcome back to davos. the world economic forum brings together top world leaders and business executives. we spoke to two of the most influential women in business. sheryl sandberg is facebook's chief operating officer. melinda gates is the co

that's whey that all do. >> thanks to brian moynihan. up next we are on the money. cheryl sandberg and melinda gates are two of the most infll women in business. they join me together here from dav davos. and it takes a village to raise a child. how one charter school in africa is using technology to make a profit and gave quality education for $5 a month. right now, though, as we head to a break look at how the stock market >>> welcome back to davos. the world economic forum brings together top world leaders and business executives. we spoke to two of the most influential women in business. sheryl sandberg is facebook's chief operating officer. melinda gates is the co-chair of the bill and melinda gates foundation. i asked about leadership and how they figure out who what to tackle next. >> it's a tricky issue for anybody leading in any arena. the found sedation actually in about 24 different topic areas if you take them from vaccines to family planning to trying to lift and empower people. what i do is i go where my passion is and i follow the data. so we're very

coming up, andy levy and michael moynihan join us on the latest on deflategate. we'll argue with a prominent skeptic with faith and reason. you're crazy kennedy. that's next. recently, a 1954 mercedes-benz grand prix race car made history when it sold for a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. and to think this one actually has a surround-sound stereo. the 2015 cla. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. they take us to worlds full of heroes and titans. for respawn, building the best teractive entertainment begins with the cloud. this is "titanfall," the first multi-player game built and run on microsoft azure. empowering gamers around the world to interact in ways they never thought possible. this cloud turns data into excitement. this is the microsoft cloud. [announcer] this is my business. [music throughout] ♪because i love you♪ i believe in it. i live it and breathe it. i put my heart and soul... ...blood,sweat a

shared war stories with inouye and with the faithful tap on the shoulder where he would partner with moynihan in their effort to reform social security. the names of many senators who have come before us are etched into the task we set out today. the men and women who preceded us include future presidents and vice presidents. they include former athletes veterans and astronauts. we have forgotten some. we remember others but their legacy live on. here is how senator claude pepper put it. the senate he said is inefficient, on wielding and inconsistent. it has foibles. its vanities, its members that are great and those who think they are great but like democracy is strong. it has survived many changes. it has saved the country from many catastrophes and it is a safeguard against any form of tyranny. in the last analysis pepper said the senate is probably the price we in america have to pay for liberty. for everything senator pepper and i may not have agree don, we certainly agreed on that. in the same way each of us here may not agree on every issue. we may be republican we may be democrat but

even senator moynihan was chairman of the committee, he brought it up and simply voted no but did not try to block it. do you think this will be different this time with the democrats? >> it may be different, lawrence, because unlike the nafta, this transpacific trade agreement really is focusing less on tariffs and more on what are called nontariff barriers those are regulations like health safety and environmental regulations that could get in the way of trade if a global company said for example, the united states environmental regulations make it very difficult for us to get our goods into the united states because our goods are -- well, they degrade environmentally, and they're very bad for the environment. you see, under the transpacific trade agreement, you have this separate tribunal set up outside any nation's legal system that can pass judgment on those kinds of health, safety and environmental regulations. with nafta, we didn't have anything like that. nafta was a hard sell for democrats notwithstanding. in retrospect they were not nearly strong enough. >> let's listen how

before moynihan gave birth, brady was already dating super model gisele bÃœndchen forgiven by male and female sports fans. is that something fans care about? >> the fact he married the highest paid model in the world, good for him. >> reporter: but spy gate soon followed. fined the patriots for cheating videotaping signals from their opponents. how did tom brady come out of spy gate? >> untarnished. doesn't scout the signals or make those decisions. he's been teflon coded. movie star handsome rarely makes an offensive statement. >> reporter: people are talking about him as a cheater. >> americans don't like cheaters. if one person in the world has a real chance to have people believe him, it's tom brady. >> reporter: as a 37-year-old, brady looks to what may be his last super bowl. he's hoping to not just win a game but solidify his reputation and his legacy. erin? >> all right. all eyes will be on him. that's for sure. thank you, kyung and be sure to tune in tomorrow or our super bowl special, rachel nichols and dan marino host kickoff in arizona at 4:30 eastern. we be right back. i l

even senator moynihan was chairman of the committee, he brought it up and simply voted no but did not try to block it. do you think this will be different this time with the democrats? >> it may be different, lawrence, because unlike the nafta, this transpacific trade agreement really is focusing less on tariffs and more on what are called nontariff barriers, those are regulations like health, safety, and environmental regulations that could get in the way of trade if a global company said, for example, the united states environmental regulations make it very difficult for us to get our goods into the united states, because our goods are -- well, they degrade environmentally, and they're very bad for the environment. you see, under the transpacific trade agreement, you have this separate tribunal set up outside any nation's legal system that can pass judgment on those kinds of health, safety, and environmental regulations. with nafta, we didn't have anything like that. nafta was a hard sell for democrats notwithstanding. in retrospect, they were not nearly strong enough. >> let's list

brian moynihan is here. he is the ceo and chairman of bank of america. nice to see you here. >> it is great to be here. >> a classic new englander. no jacket, no gloves, no hat. >> it is about 60 out here. [laughter] >> fixed income trading got people down. can we extrapolate from the fourth quarter into 2015? >> as you move through december, the activity dried up. there was volatility with no activity. >> with no trading. >> no trading, no customer activity. we make our money when customers are moving. the last few weeks, the activity is through the roof and trading is coming back. we will see how the rest of the quarter goes because it is literally very early. customers are back doing work after the holidays. first quarter is always the best quarter for us. it is early on. the difference between the latter part of the quarter was that the activity dried up as people got uncertain. >> could this swiss franc move and of being a net positive for bank of america? >> when you have an activity like that you usually have a huge spike in volume four couple of

>> bridget moynihan. >> aaron rodgers plays for the green bay packers. who is the celebrity girlfriend, don't answer yet, the clue is that she costars in the tv show "the news room." >> can i ask the computer? >> no, you can't use the internet. you can talk to drew if that will help. you discuss, we'll come back after sports. >>> while the 49ers have the catch, the cowboys have the catch that was not. and it probably cost them a spot in the nfc championship game. we go to green bay where the weather was actually not so bad for this time of year. tony romo was on his game. here he is terrence williams slips the defender breaks to the inside, gone 38 yards for a touchdown. dallas led 14-10 at the half. aaron rodgers struggled the first half but finished strong. he buys time before throwing a bullet to richard rogers. packers let 26-21. the game would come down to this. fourth and 2, under five minutes left. romo goes deep for dez bryant who appears to make an amazing catch. at first he's ruled down at the 1. after the packers challenge the call it was reve

cnbc personality heckled bank of america ceo brian moynihan on way to interview with fbn. prompting this response from our own maria bartiromo. >> really embarrassing. melissa: saw it online. what is she talking about. what is the incident? charlie has exclusive details. >> she was going to interview brian moynihan ceo of a major bank. melissa: big guy. >> i'm not for kissing their rear end for meetings. even before they go on you don't heckle them. not apparently, he was heckled by someone at cnbc. >> oh, you're embarrassing yourself and other comments. there has been some press on this. i always wanted to know who it was. i assumed usual thugs that they bring out there, nick dunne who is the pr guy. brian steele who is their, man secretary to mark hoffman the ceo, president of cnbc. but it turned out to be andrew ross sorkin. melissa: really. >> who knows andrew ross sorkin, this is bank of america pr guy told me point bank he is a standing there. andrew ross sorkin columnist for new york city times. melissa: he is classy guy. i'm surprised -- >> i think he is a good kid

have not addressed basic issues they have not changed leadership -- >> that is too vague. >> brian moynihan and the entire management team has done everything they can in terms of expensive production, but i have not address issues like getting loan files in order so they can sell them. >> cover of "the new york times" today, wall street chipping away at dodd-frank rules. what has dodd-frank done? >> taken away their own account trading, volker rule. it is a water balloon -- use scurries the balloon, it will go somewhere else. >> robert at nyu was looking at contributions, a systemic risk of large institutions, they have jp morgan chase at top, then bank of america. >> jpmorgan is a large over-the-counter derivatives market with a bank attached. that is how you should look at it. >> that is our quote of the day. >> the op-ed last week about the breakup of the big banks -- i mean, it is nice cocktail conversation, but there is no validity to it, is there? >> over time, that is exact we what will not be a germanic breakout -- a dramatic breakup -- >> over five years -- >> they will have to sh

joining me now michael moynihan, of the daily beast, karima bennoune, author of "your fatwa does not apply here." her father was the subject of death threats after he taught about darwin. and arsalan iftikhar, senior editor of the islamic monthly. all right. let me start with you. what is your reaction to today? and does what happened today change your -- the prior beliefs you had yesterday about speech, offensiveness, violence and intimidation? >> i'm completely horrified by what happened today. and like so many people of muslim heritage around the world, i do, want to say, i am charlie, in arabic -- [ speaking foreign language ] and in french -- [ speaking foreign language ] we stand in solidarity with the victims and the people across france. this has confirmed my belief that muslim fundamentalist movements are one of the major human rights threats we face around the world and we have to defeat those movements. >> what does that mean, though? what does defeat mean? >> it means first going after and discrediting the ideology that motivates them. it means exposing their terrorist at

his one image to that he dated bridge jet moynihan. they split when he was pregnant. >> brady was already dating giselle bundchen a public mess quickly forgive by female and male sports fans. >> the fact he married the highest model in the world, good for him. >> spy gate soon followed. the nfl fined the patriots for cheating videotaping signals from opponents. >> how did tom brady come out of spy gate? >> untarnished? he doesn't scout the signals. he doesn't make those decisions. he's been teflon coated. movie star handsome. rarely makes an offensive statement into people are talking about him as a cheater. >> americans don't like cheaters. if one person in the world has a real chance to have people believe him, that's tom brady. >> as a 37-year-old brady looks to a weekend that may be his last super bowl he hopes to win not just the game but solidify his reputation and legacy. kyung lah, cnn, los angeles. >>> thank you for watching this hour. i'm flatly allen. more news after this. >>> hello. welcome. the united states and around the

then, on january 3, 1983, the day the senate reconvened, my commission colleague, pat moynihan, approached me on the senate floor. notwithstanding the odds or the obstacles, we knew we had to keep trying. and we did -- not just us, but bob ball, who is here as a guest tonight and was one of the authors, and bob myers, who did a great job. we did. within two weeks, a compromise was reached that allowed social security recipients to receive their checks on time. and that system is going to be sound, according to mr. ball, who told me, until the year 2034, and maybe even beyond. we reached an agreement only because no one got everything and everyone gave something. we succeeded in the spirit of everett dirksen, who liked to say, "i am a man of fixed and unbending principle, and one of my principles is flexibility." [laughter] i have always kept this in mind, especially after another memorable day, november 29 1984, when, right in this room i was chosen to succeed howard baker as republican leader. i am still surprised ted stevens didn't win -- and so is he, i think. [laughter] but the next 11

i was in that room with pat moynihan bob dole and george mitchell when we made that deal. >> joining me now, senior editor for msnbc and host of the msnbc.com show. beth, that joe biden clip he really did make the most of it. i just believe lindsey graham is looking at that and saying, why don't i make that run for vice president? >> that's pretty interesting three dimensional chess. >> there's an element to that. there is such a thing coming in second for president, it's called vice president. >> but he came in fourth or fifth in iowa. there's another bit of drama here. lindsey graham cannot stand rand paul. as rand paul is emerging as a really force to be reckoned with in this field i think he wants to get on the debate stage and hand it to rand paul. >> so forget about the vice presidential nomination, just get his voice on that debate stage to rip up rand paul on foreign policy. >> that's a big piece of this. he feels like there's nobody representing that point of view that mccain-lindsey graham point of view and rand paul is emerging as somebody as a force to reckon with. he is

. >> people like him, daniel patrick moynihan they don't always quite make them like that anymore, i think is fair to say. thank you both for being here today. >> thanks for having us. >>> just ahead, rep introduce the first piece of legislation in the new congress the white house issues its first veto threat. game on, that's next on "now. [container door opening] ♪ what makes it an suv is what you can get into it. ♪ [container door closing] what makes it an nx is what you can get out of it. ♪ introducing the first-ever lexus nx turbo and hybrid. once you go beyond utility there's no going back. ♪ [epic music] ♪ introducing aleve pm... the pm pain reliever. that dares to work all the way until... [birds chirping] the am. new aleve pm. it's the first to combine a safe sleep aid plus the 12 hour strength of aleve. for pain relief that can last all the way until morning. new aleve pm, for a better am. >>> so that didn't take long. just hours after republicans took control of the u.s. senate today, the white house issued it's first veto threat of this new contingent. it's not o

spokesman -- liz: and he was yelling don't go on with maria -- >> he was standing there with brian moynihan. now, this is the ceo of wang -- bank of america. you don't have to heckle him for going on -- liz: well, for those of you who don't know, i think they're threatened, because they were sending e-mails saying don't talk to liz claman. i mean, really? >> they were threatening your guests, they were heckling -- i think they reached a new low. liz: i think we've reached a new high, how about that? >> here's the thing, being a jerk is cop today juice. andrew who was never a jerk, and now he's turning out to be like nick dunn. liz: get more, get more! the closing bell, we're 27 minutes away. >>> the space race on from mark zuckerberg to elon musk to richard branson, all the biggest names investing in satellite internet. stick around as one of the originals in this field joins me next. >>> travel bans, school closures, how bad will it get? broadway has just been shut for the night. we'll have the latest in what has to be potentially the worst snowstorm in northeast history, maybe. ♪ ♪ â™

i was in that room with pat moynihan, bob dole and george mitchell when we made that deal. >> joining me now, senior editor for msnbc and host of the msnbc.com show. beth, that joe biden clip, he really did make the most of it. i just believe lindsey graham is looking at that and saying, why don't i make that run for vice president? >> that's pretty interesting three dimensional chess. >> there's an element to that. there is such a thing coming in second for president, it's called vice president. >> but he came in fourth or fifth in iowa. there's another bit of drama here. lindsey graham cannot stand rand paul. as rand paul is emerging as a really force to be reckoned with in this field, i think he wants to get on the debate stage and hand it to rand paul. >> so forget about the vice presidential nomination, just get his voice on that debate stage to rip up rand paul on foreign policy. >> that's a big piece of this. he feels like there's nobody representing that point of view, that mccain-lindsey graham point of view and rand paul is emerging as somebody as a force to reckon with. he

then, on january 3, 1983, the day the senate reconvened, my commission colleague, pat moynihan, approached me on the senate floor. notwithstanding the odds or the obstacles, we knew we had to keep trying. and we did -- not just us, but bob ball, who is here as a guest tonight and was one of the authors, and bob myers, who did a great job. we did. within two weeks, a compromise was reached that allowed social security recipients to receive their checks on time. and that system is going to be sound, according to mr. ball, who told me, until the year 2034, and maybe even beyond. we reached an agreement only because no one got everything and everyone gave something. we succeeded in the spirit of everett dirksen, who liked to say: "i am a man of fixed and unbending principle, and one of my principles is flexibility." i have always kept this in mind, especially after another memorable day, november 29 1984, when, right in this room i was chosen to succeed howard baker as republican leader. i am still surprised ted stevens didn't win -- and so is he, i think. but the next 11 years would witness t

worked with that cuomo team when i was on the team of the senior senator from new york daniel patrick moynihan. and i was afraid of every member of the cuomo team because, as andrew said today, his father was really really tough. and let's just say that that toughness got communicated very clearly by everyone on the cuomo team. they were tough like their boss because they cared about what they were doing so much. the work of governing was so important to mario cuomo. you won't know the names you're about to hear, but please indulge me in this moment and listening to them being thanked one final time because they so deeply deserve it. >> my father had a really fwik team. they worked 24 hours a day seven days a week because that's the only way they knew how to work. pam brownan and jerry and tony bergos and john howard and john majori mare yaen crowdy and my father's third son who i sometimes think he loved the most really did an extraordinary job. they did an extraordinary job with his funeral. and we want to thank them. >> andrew cuomo was the captain of that team but he wasn't taking credit f

joining me now michael moynihan, of the daily beast, karima bennoune, author of "your fatwa does not apply here." her father was the subject of death threats after he taught about darwin. and arsalan iftikhar, senior editor of the islamic monthly. all right. let me start with you. what is your reaction to today? and does what happened today change your -- the prior believe beliefs you had yesterday about speech, offensiveness, violence and intimidation? >> i'm completely horrified by what happened today. and like so many people of muslim heritage around the world, i do, want to say, i am charlie, in arabic -- [ speaking foreign language ] and in french -- [ speaking foreign language ] this has confirmed my belief that muslim fundamentalist movements are one of the major human rights threats we face around the world and we have to defeat those movements. >> what does that mean, though? what does defeat mean? >> it means first going after and discrediting the ideology that motivates them. it means exposing their terrorist atrocities. unfortunately, what happened today has been repeated

joining me now michael moynihan of the daily beast, author of "your fat wa does not apply here." her father was the subject of death threats after he taught about darwin. and senior editor of the islamic monthly. all right. let me start with you. what is your reaction to today? and does what happened today change your -- the prior believe beliefs you had yesterday about speech offensiveness, violence and intimidation? >> i'm completely horrified by what happened today. and like so many people of muslim heritage around the world, i do want to say, i am charlie, in arabic -- [ speaking foreign language ] and in french -- [ speaking foreign language ] this has confirmed my belief that muslim fundamentalist movements are one of the major human rights threats we face around the world and we have to defeat those move moonts. >> what does that mean, though? what does defeat mean? >> it means first going after and discrediting the ideology that motivates them. it means exposing their terrorist atrocities. unfortunately, what happened today has been repeated across majority regions of the

>> moynihan was on this morning with bobby quick and he actually gave what i thought was a very succinct argument about the existing environment. the impact of lower oil. the incumbent pact of zurp and all that sort of thing. one of the cheapest and if you want a u.s. bank that's very levered to the u.s. consumer, which seems to be one of the best things going in the global economy, bank of america is probably the one. >> what do you think, pete, financials? >> you like financials. >> i jumped in jpmorgan the other day. >> terrible timing. >> not so bad. i mean, i got in a little earlier than i wanted after earnings and i got in twice and around give or take close to where it is. i like the name though. i look at this name and jamie dimon has done what he needs to do. i think it's the federal government that need to get out of his way. >> oh. >> ahead of the state of the union address saying get out of bank's business, mister. >> i'll say this. fixed income currency trading commodities so weak, the bar is very low. but also for next quarter for these guys. morgan stanley's numbers were o

worked with that cuomo team when i was on the team of the senior senator from new york, daniel patrick moynihan. and i was afraid of every member of the cuomo team because, as andrew said today, his father was really, really tough. and let's just say that that toughness got communicated very clearly by everyone on the cuomo team. they were tough like their boss because they cared about what they were doing so much. the work of governing was so important to mario cuomo. you won't know the names you're about to hear, but please indulge me in this moment and listening to them being thanked one final time because they so deeply deserve it. >> my father had a really fwik team. they worked 24 hours a day seven days a week, because that's the only way they knew how to work. pam brownan and jerry and tony bergos and john howard and john majori, mare yaen crowdy and my father's third son who i sometimes think he loved the most really did an extraordinary job. they did an extraordinary job with his funeral. and we want to thank them. >> andrew cuomo was the captain of that team, but he wasn't taking cred

family of the united states"óok published in '39 "blackq9f family research" in then daniel patrick moynihan. so on and so forth elevated frasier's research to a whole new level two decades later. frasier played a major part in the silence around his work on crime and policing. neither the footnotes for bibliography did he citewzbç the laguardia report. police racism never enters intoú'( the analysis. major indicators in this analysis of class and culture;gl2ñ differentiation. this is striking because in addition to leaving out the laguardia study, frasier's 1935 field notes and investigative reports have numerous examples of police corruption, misconduct, and violence. also telling is the fact that in his sdert nation on chicago from the shaw'x[v and mckay, that shaw and mckay later pair phras from, he cited only once the most important study of race relations in thec9d 1920s. the chicago commission on racemé! relations report entitled "the negro in chicago." at the heart of that study is a searing critique of discriminatory policing and its role in chicago's 1919 race riot. the ideas t

much like brian moynihan, ice runs through their veins. no jacket, no hats, gloves. >> what about me? >> you have a sweater on. >> coming up, the ceo of blackrock. ♪ >> welcome back to "market makers." let's talk about what's going on on wall street today. we are seeing a rally based on the ecb stimulus that mario draghi announced today. that pointed to, the purchase of 60 billion euros worth per month of bonds around the eurozone. the s&p and dow are rising. we are see the euro falling to an 11 year low. as for movers in the united states, look at twitter today. as we had this unverified, unconfirmed speculation yesterday that maybe there was an activist taking an interest in amazon, there seems to be some takeover speculation about twitter. it is unconfirmed but we are seeing this happening in the markets as of late. financials are leading the gains right now. we have some earnings from the regional banks. bb&t beating estimates. crown castle also on the rise. we have a couple of important downside movers. american express announcing i

of december and telegraph this price signal that trading was going to come, we have also heard brian moynihan say that we are going to see a decline in trading revenue in the past couple of weeks. trading was not great. this goes back to what we have been talking to our analysts about. everybody thinks volatility helps trading. >> gray asic is looking at expense reduction. whalen is looking at shedding assets. >> taking deposits in making loans. the banks involved in trading are having a harder time making it work. >> people see -- expect to see a lot of jobs go here. but are they just cutting into the bone? is there anything more to be trimmed? >> adam parker is with us with -- from morgan stanley. this idea of use of cash. how does it look in 2015? >> the market is clearly overpaying for a level of yield and underpaying for the growth in the dividend. the reason is because interest rates in the bond market are so low. there are two high multiples for utilities. i think you have that challenge. i think that will change if you get the backup and yields eventually. the second thing is that in

brian moynihan said earlier he thinks they have the majority of the lawsuit issues behind them. should they be holding more reserves for bad loans going forward or do you think he is not right? >> i think he is right. i am not spec -- expecting any measurable things going forward. as far as regular, the reserves are still covering actual losses . i am not worried right now, but i know it will tailwind across the industry for the last several years and that cannot go on forever. at some point, i inc. losses are still going down and the company will have to build reserves going forward after that. it's sort of plays into my market reform recommendations. >> thank you so much. we really appreciate your time. it is a huge week. definitely the top story for us this morning if you put aside what is going on in switzerland. let's go right back to the huge move from the swiss national bank this morning. they said they would scrap the policy that would limit how much the euro can fall against the swiss franc. unexpected any cost gyrations in the financial markets. stay up here in london

you walk into the lobby and see -- >> hold on a minute, brian moynihan. good morning. did you just hear that? >> we get great discounts ok? corporate travel. >> you see two red giant basically, polar bears. you don't know if it is christmas decoration or art. it was explained to me by the manager there may to basically attract russian tourists. except, there were no russian tourists because of the collapse in the ruble. the dining room was empty, the lobby room was empty. the russian crisis is basically hitting hard for luxury travel especially in europe. >> let me talk about air travel. ♪ every night in my dreams ♪ it is all titanic. it is jack and what's her name rose on the bow. there is the madness of what the business class ticket costs. >> i will take your "titanic" and raise you. i think there was -- megan is right about this. if there's sufficient competition. i don't think we know there is sufficient competition in the airline's. >> there's not. >> then we would know it is absolutely our fault for buying on price. was there, edition entrance and it -- tran

i think the moynihan i've got to tell you, the bank stay away from financials and you'll do fine. financials are 18% of s & p. >> a difficult time, not only citi, but bank of america, in terms of fixed income trading. numbers, horrific numbers from jeffrey's which prestaged. one wonders what we'll see from the like of goldman sachs and morgan stanley the personally advisory business is so important but they do trade at these firms. >> my charitable trust, of all of these, morgan i think he'll deliver a clean one. i think morgan stanley will be clean. wells fargo was clean, let that stock come down. when you read bank of america, these are very hard to understand so you have to do more work than -- i don't mean to be cursory, you have to sit down, talk to people. on the face of it this is just not such a hot quarter for banks. >> no. >> if rates went up we'd be talking positive. >> as earnings season began, s&p bank earnings expected to go up three year on year. now, expecting minus two, due to poor results we've already seen. >> it's eye opening. the lending -- they don't make muc

it was moynihan writing to then school superintendent feldman basically defending school choice. he said it's a lack of conservatism that liberals get this but conservatives don't. over two and a half decades, conservatives have been on the right side of this issue. they understand that parents need freedom and choice. in fact 72% of americans really do believe in school choice and those numbers fluctuate every year, but it really remains pretty high. 86% of americans agree that we need more accountability in our schools. gosh, could you imagine anything that americans can agree on at that level? but the main problem and this goes to your point congressman messer, is that you know, two-thirds of americans really don't believe that their elected officials are leading on education issues the way they need them to be. so when you look back at the history of school choice on capitol hill, you can see that it takes time, it takes courage and it takes leadership to actually enact stuff and get stuff happening in states. you know two decades ago, you had congressmen fighting for voucher

finally just to underscore the point about my brother's keeper the regressive ideas and the kind of moynihan-esque ideas at the root of "my brother's keeper," one painfully -- which should be an obvious truth, which is that both trayvon martin and michael brown had fathers active in their lives. and that did not save them from you know, the fates that befell them. and so the idea this being this pathology and maytriarchy. >> i want to say the young people talk like that because of the work we do. and i don't think we can ignore that. it's amazing. >> hi, i'm matt garcia. i teach at arizona state university. . and i'm really happy to be entering this conversation right at this moment. because what was on my mind was the critical work that kimberly crenshaw and kristi dotson are doing in terms of critiquing my brother's keeper. it's not simply that there's the black father is present. and that's important right? but part of the critique is the way that our focus, fetishization. once we realize that black men are brutalized are killed, right? that it makes more invisible black women's similar experie

finally, just to underscore the point about my brother's keeper, the regressive ideas and the kind of moynihan-esque ideas at the root of my brother's keeper one painfully -- which , should be an obvious truth which is that both trayvon martin and michael brown had fathers active in their lives. and that did not save them from, you know, the fates that befell them. and so the idea this being this pathology and matriarchy that upends the black family is blind on the very example they are basing it around. >> i want to say the young people talk like that because of the work we do. and i don't think we can ignore that. it's amazing. >> hi, i'm matt garcia. i teach at arizona state university. and i'm really happy to be entering this conversation right at this moment. because what was on my mind was the critical work that kimberly crenshaw and kristi dotson are doing in terms of critiquing my brother's keeper. it's not simply that there's the black father is present. and that's important, right? but part of the critique is the way that our focus fetishization. once we realize that black men are criminal

. >>> this week we've heard from financial titans including larry fink, brian moynihan on the state of global markets. joining us now is james gorman, morgan stanley ceo. we've been watching the job you've been doing for five years. things get going and it's almost three steps forward, a half step back maybe. this was a tough quarter and it wasn't just morgan stanley. describe what all the banks really got hit with. it was trading. tough trading, low interest rates? >> somebody asked me on the way over here what i thought about the quarter. i said goodish. which i think is fair. we had -- first thing, we had a number of unusual things that occurred in the quarter. some positive some negative. all positive in terms of getting them behind us and further distance from the crisis. separate from that the trading environment was tough. back half of december very tough. came through it okay. good news is the core businesses that are non-trading did very well in this environment. >> you know people say morgan stanley, goldman sachs. there's still the perception that just in terms of pure opera

. >> bobby moynihan pound for pound is one of the funniest things on the planet. >> i. ed it all to come out like that. >> that's why we watch. >> media day. >> it's media day tomorrow at the super bowl. >> taking off, they have done a thing that gets around. >> getting out the patriots. >> they had to make sure the pressure is on the tire. i don't know. >> that could be rough if it's not taking off. the guy out there with a little inflated thing. the pressure gauge. i don't think it takes off. i don't know. i'm kicking the tires and they are not going. or deflating. make sure we give bill belichick plenty of nuts. we are looking the today snow in the northeast and fog in the specific northwest. snow in the western half of the country looking great. terrific. tomorrow we have the snow up into the northeast. new england with hurricane-force winds that will be a mess. the western half is looking spectacular spectacular. that's not good. that's what's going on around the country. that's the sound of the air >>> good morning, i'm meteorologist bill henley tracking a major w

when i first came to the movement, i was actually in an urn working in the office of senator moynihan. i was from new york and i only had two options. i came across this letter this is from 1997. it was moynihan writing to then asc president stanley solomon defended his choice to support school choice. it's conservatives get this but liberals still. for over 2.5 decades, conservatives have been on the right side of this issue. they understand parents need freedom and choice. in fact, 72% of american believe in school choice and those numbers fluctuate every year, but it really remains pretty high. 86% of americans agree we need more accountability in our school. can you imagine anything in american agree on at that level? the main problem and ask us to your point congressman messer that two thirds of americans really don't believe they are elected officials leading on education issues is the way they need them to be. so when you look at the history of school choice on capitol hill, you can see it takes time it takes courage and it takes leadership to get stuff happening in the state.

. >> bobby moynihan pound for pound is one of the funniest things on the planet. >> i. ed it all to come out like that. >> that's why we watch. >> media day. >> it's media day tomorrow at the super bowl. >> taking off, they have done a thing that gets around. >> getting out the patriots. >> they had to make sure the pressure is on the tire. i don't know. >> that could be rough if it's not taking off. the guy out there with a little inflated thing. the pressure gauge. i don't think it takes off. i don't know. i'm kicking the tires and they are not going. or deflating. make sure we give bill belichick plenty of nuts. we are looking the today snow in the northeast and fog in the specific northwest. snow in the western half of the country looking great. terrific. tomorrow we have the snow up into the northeast. new england with hurricane-force winds that will be a mess. the western half is looking spectacular spectacular. that's not good. that's what's going on around the country. >>> hey, happy monday to you. i'm meteorologist christina loren. 9:36 is the time. a little ha

shared war stories with inouye and with a fateful tap on the shoulder, where he would partner with moynihan in their effort to reform social security. the names of many senators who come before us are etched into the desk we sit at today. the men and women who precede us include future presidents and vice presidents. they include former athletes, veterans and astronauts. we've forgotten some. we remember others. but their legacies live on. here's how senator claude pepper put it: "the senate," he said, "is inefficient, unwielding, and inconsistent. it has foibles. it has vanities. it has members who are great and those who think they are great. but like democracy, it is strong. it has survived many changes. it has saved the country from many catastrophes, and it is a safeguard against any form of tyranny." in the last analysis, pepper said "the senate is procedural the price we in america have to pay for immunity." we certainly agreed on that. in the same way each of us here may not agree on every issue. we may be republican. we may be democrat. but we are americans. we each have a responsi

. >> what changed yesterday for jamie dimon, brian moynihan, mr. corbat? >> regarding the swiss? >> the volatility was something. changing i do not think so. >> they will not take losses? >> they will take losses. this is going to cause a huge amount of trading activity in terms of foreign exchange. a lot of corporations will be executing things. will there be losses? sure. will this caused foreign exchange hedging, yes. that is good business. >> foreign currency dealers literally going insolvent. how about brady dougan? >> they have an expense in martin winterkorn. that is what is -- they have an expense in francs. the issue in terms of foreign exchange tends to be one between euros and sterling. you never >> -- >> you never learn about leverage until it is too late. in retail trading people are highly leveraged. >> that is right but if we think about the foreign exchange business i do not see -- alan patricof >> -- >> alan patricof, you have seen shocks like this. your world is up to their eyeballs in money. in the spirit of getting into venture capital, does that change? >> no