and, senator moynahan said, mr. president i am not a lawyer, so you should not be asking me that question. the president said, i value your judgment. who would you pick? and senator moynahan said ruth bader ginsburg. why? he said, because dean griswold, the longtime dean of harvard law school, thinks she is very good. and this is the dean that said i could not have a harvard law degree because i did not stay there for my third year. life is -- so many chance things occur and you don't know if they will turn out to be good or bad. this was certainly good. there was a celebration at the court of the 50th anniversary of the building. so, the building was completed in 1935. this was 1985. dean griswold was solicitor general. he was to make a speech about great advocates before the court. and by 1985 he realizes that he cannot have a list with all men. so, after he finishes with thurgood marshall, the next person he mentions his ruth bader ginsburg. charlie: yes. justice sotomayor: when i went for my nomination process,

and, senator moynahan said, mr. president i am not a lawyer, so you should not be asking me that question. the president said, i value your judgment. who would you pick? and senator moynahan said ruth bader ginsburg. the president asked why. he said, because dean griswold, the longtime dean of harvard law school, thinks she is very good. i could not have a harvard law degree because i did not stay there for my third year. life is -- so many chance things occur and you don't know if they will turn out to be good or bad. this was certainly good. there was a celebration at the court of the 50th anniversary of the building. so, the building was completed in 1935. this was 1985. dean griswold was solicitor general. he was to make a speech about great advocates before the court. and by 1985 he realizes that he cannot have a list with all men. so, after he finishes his with thurgood marshall, the next person he mentions his ruth bader ginsburg. charlie: yes. justice sotomayor: when i went for my nomination process, i was t

and senator moynahan said ruth bader ginsburg. the president asked why. he said, because dean griswold, the longtime dean of harvard law school, thinks she is very good. i could not have a harvard law degree because i did not stay there for my third year. life is -- so many chance things occur and you don't know if they will turn out to be good or bad. this was certainly good. there was a celebration at the court of the 50th anniversary of the building. so, the building was completed in 1935. this was 1985. dean griswold was solicitor general. he was to make a speech about great advocates before the court. and by 1985 he realizes that he cannot have a list with all men. so after he finishes his with , thurgood marshall, the next person he mentions his ruth bader ginsburg. charlie: yes. justice sotomayor: when i went for my nomination process, i was told everyone should have had a marty ginsburg as a muse in their life. [laughter] justice sotomayor: he apparently came into the preparation session with folders including all of ruth's speeches, her entire sc

and, senator moynahan said, mr. president i am not a lawyer, so you should not be asking me that question. the president said, i value your judgment. who would you pick? and senator moynahan said ruth bader ginsburg. the president asked why. he said, because dean griswold, the longtime dean of harvard law school, thinks she is very good. wouldis was the dean that not give me a harvard law degree because i did not stay there for my third year. life is -- so many chance things occur and you don't know if they will turn out to be good or bad. this was certainly good. there was a celebration at the court of the 50th anniversary of the building. so, the building was completed in 1935. this was 1985. dean griswold was solicitor general. he was to make a speech about great advocates before the court. and by 1985 he realizes that he cannot have a list with all men. so, after he finishes with thurgood marshall, the next person he mentions his ruth bader ginsburg. charlie: yes. justice sotomayor: when i went for my nomination

and, senator moynahan said, mr. president i am not a lawyer, so you should not be asking me that question. the president said, i value your judgment. who would you pick? and senator moynahan said ruth bader ginsburg. the president asked why. he said, because dean griswold, the longtime dean of harvard law school, thinks she is very good. and this is the dean that said i could not have a harvard law degree because i did not stay there for my third year. life is -- so many chance things occur and you don't know if they will turn out to be good or bad. this was certainly good. there was a celebration at the court of the 50th anniversary of the building. so, the building was completed in 1935. this was 1985. dean griswold was solicitor general. he was to make a speech about great advocates before the court. and by 1985 he realizes that he cannot have a list with all men. so, after he finishes his with thurgood marshall, the next person he mentions his ruth bader ginsburg. charlie: yes. justice sotomayor: when i went for

blanton, in skimming over some of this testimony, i was fascinated by your report about the moynahan commission and that we went through all of this 20 years ago, basically. and also, i think the thing that impressed me the most was, i mean, there seems to be general agreement here today that there is a real problem of over classification. but i saw where mr. mcdaniel, who was president reagan's national security adviser, said that only 10% of what's being classified probably really needed to be classified. is that correct? and why do you think -- you mentioned there that this was a tremendously bipartisan commission, had jesse helms and daniel patrick moynahan. and obviously, you're disappointed that not -- very little was done with that, those recommendations. why do you think that was? and do you think we should take another look at that? what -- just go into that a little bit for me. >> i think in the testimony i quoted mr. mcdaniel, who the moynahan commission quoted and said based on my experience with a few million pages of declassified documents, he's right, especially about

,he most important thing of all and this was almost out of the rabbi, my guide was senator moynahan. how did that come about? wasas a connection marty pleased to have but it didn't come through them. the president was on a plane with senator moynahan going to some democratic function and said please tell me, who would you pick? for the supreme court? said i'm not a lawyer, so you shouldn't ask me that question. the president said i value your judgment. who would you pick? ginsburg.th bader why? griswold, the longtime dean of harvard law school thinks she is very good. i could not have a harvard law degree because i did not stay there for my third year. so many chance things occur and you don't know if they will turn out to be good or bad. this was certainly good. there was a celebration at the court of the 50th anniversary of the building. it was completed in 1935. this was 1985. dean griswold was solicitor general. he was to make a speech about great advocates before the court. he realizes that he men.t have a list with all after he finishes his with thurgood marshall, the next pers

he was an aide to the late senator moynahan. and is well attuned to the understanding of the problems that the secrecy system suffers from. as a former intelligence officer and as a doj lawyer, has a degree of credibility with the national security agencies that others might have trouble matching. >> okay. go ahead. >> just the proof's in the pudding. we look forward to meeting with mr. bradley, as soon as he's on the job. you can look at the information security oversight office's previous directors and you can see those folks made some real differences in the security system in a more rational direction. i can hope for that trend to continue. >> certainly, we hope that they reach back out to our community. that's one of the nice things with all the gentlemen that mr. blanton just mentioned is they have been very open. there has been a dialogue back and fort, and they know that there is a burden on secrecy but then on openness and have provided the proper weight test to that. that has been, i think, beneficial to the system. >>

vonnie: bank of american -- of brian moynahan. we are talking fedex next. ♪ ♪ live from bloomberg headquarters in new york, i'm vonnie quinn. this is "bloomberg markets." let's check in now with first word news. alisa parenti has more. >> thank you. after a two-week lull, iraqi troops have resumed their efforts in mosul to retake the city from islamic terrorists backed by airstrikes and special at my airstrikes, they lost a push in neighborhoods. smoke the load across -- smoke billowed across the sky. north korean dictator has ordered the execution of 340 people since he came to power in 2011. that is according to a new report from the national security strategy, a south korean think tank. about 140 of those killed were senior officers. kim has reportedly executed ordinary citizens for watching south korean soap operas helping others defect. in russia, there is indication of a crash of a military transport playing was not an act of terrorism. they said that it show there was no explosions on board. the plane crashed into the b

the president was on a plane with senator moynahan going to some democratic function and said please tell me, who would you pick? for the supreme court? senator monahan said i'm not a lawyer, so you shouldn't ask me that question. the president said i value your judgment. who would you pick? he said ruth bader ginsburg. why? because dean griswold, the longtime dean of harvard law school thinks she is very good. i could not have a harvard law degree because i did not stay there for my third year. so many chance things occur and you don't know if they will turn out to be good or bad. this was certainly good. there was a celebration at the court of the 50th anniversary of the building. it was completed in 1935. this was 1985. dean griswold was solicitor general. he was to make a speech about great advocates before the court. by 1985 he realizes that he cannot have a list with all men. after he finishes his with thurgood marshall, the next person he mentions his ruth bader ginsburg. justice sotomayor: when i went for my nomination process, i was told everyone should have had a marty gins

not just byrd, moynahan. they put away their alliances and fought for the institutional integrity of the chambers. that's what's missing often today. >> i guarantee you democrats will be much more receptive. it is important how republicans are going to respond, if similar actions are taken. the politically easy thing is just to fall behind. i think that it will be interesting to see how it shakes out. >> i'm so encouraged to hear the comments about reclaiming the lost power of the legislative branch in this country. i talk about the dozens of lawsuits we filed. it was the cause we were forced to follow those lawsuits baits was very clear that the executive branch had overstepped his authority. he said i literally have a pen and a phone and i'm going to do what i want to do and he's being applauded by congress, it's really disturbing. if you don't get anything accomplished the negatives two years, we are looking for a candidate in florida for ag. you'll enjoy that job. >> i think part of it was political. some

julie: bank of america and ceo brian moynahan says there is a glass half-full mentality in the wake of the trump election. mentality around business confidence in the wake of the trump election. saudi arabia is starting to temper production. we will head to vienna as non-opec members will attend the meeting saturday on more reduction. news, 21staking century fox is said to be interested in buying -- just looking into the terminal. just a look at what is happening. we will have a look at sky shares. this gives you a real flavor of what is happening in the market. all those currencies in the second column. we are seeing the bond selloff continuing today. we are seeing curves steepen and commodities rising and futures gaining as well. i want to bring up sky shares. on thegoing to do this hoop. let's get to those breaking news. 21st century fox, agreeing to buy sky. big breaking news. a possible offer for 21st century fox, they have reached a packed. sky has formed an independent committee to review the term and the independent directors are willing to recommend the proposal. has halted vo

he was an aide to the late senator moynahan. and is well attuned to the understanding of the problems that the secrecy system suffers from. as a former intelligence officer and as a doj lawyer, has a degree of credibility with the national security agencies that others might have trouble matching. >> okay. go ahead. >> just the proof's in the pudding. we look forward to meeting with mr. bradley, as soon as he's on the job. you can look at the information security oversight office's previous directors and you can see those folks made some real differences in the security system in a more rational direction. i can hope for that trend to continue. >> certainly, we hope that they reach back out to our community. that's one of the nice things with all the gentlemen that mr. blanton just mentioned is they have been very open. there has been a dialogue back and fort, and they know that there is a burden on secrecy but then on openness and have provided the proper way test to that. that has been, i think, beneficial to the system. >> ok

julie: bank of america and ceo brian moynahan says there is a glass half-full mentality in the wake of the trump election. mentality around business confidence in the wake of the trump election. saudi arabia is starting to temper production. we will head to vienna as non-opec members will attend the meeting saturday on more reduction. >> some breaking

. >>> new york senator daniel patrick moynahan famously said more than once, we're all entitled to our own opinion but not our own facts. senator moan han died in 2003, so we are left to imagine what his reaction would be to a trump supporter who said the other day, there's to such thing unfortunately anymore as facts. that trump supporter, scotty nel hughes is paid to say things by cnn. she said her statement on a washington radio show. cnn is a news network, which is supposed to be dedicated to the pursuit of and delivery of facts. and these days, when it is not delivering the paid-for gibberish of the likes of scotty nel hughes, they are doing their share of outrage stories about fake news. nowhere in cnn's outrage stories about fake news is there any reference to the believers and purveyors of fake news that cnn employs. their team of trump supporters who will support, defend and deflect any lie that donald trump tells at any time. most people working at that network are honest, fair-minded people trying to find the truth. most of them are no-doubt horrified that their network deli

i think the incoming trump administration has got to make it clear as daniel patrick moynahan said when he rejected the zionism racism resolution we are never going to accept. this we are going to seek to repeal it. and if we can't repeal it which is unfortunately the most likely outcome there will be consequences for the 14 countries that voted the wrong way, and for the united nations system itself. and for the two state solution, which i think has now reached a well-deserved end point. >> wow, and ambassador last night there was a menorah lighting ceremony by the white house. normally this is a very peaceful kind of coming together kind of event. there was a rabbi interest who had tough talk for the administration. watch. >> i know that some of us are so sad at what happened there with regard to israel. we must remember that the way to counter any darkness, any disappointment is not with harsh rhetoric, not with anger. but by creating light. >> you can hear there that even at this ceremony they were saying the administration, this tough rhetoric, this tough stance against israel and

blanton, in skimming over some of this testimony, i was fascinated by your report about the moynahan commission and that we went through all of this 20 years ago, basically. and also, i think the thing that impressed me the most was, i mean, there seems to be general agreement here today that there is a real problem of over classification. but i saw where mr. mcdaniel, who was president reagan's national security adviser, said that only 10% of what's being classified probably really needed to be classified. is that correct? and why do you think -- you mentioned there that this was a tremendously bipartisan commission, had jesse helms and daniel patrick moynahan. and obviously, you're disappointed that not -- very little was done with that, those recommendations. why do you think that was? and do you think we should take another look at that? what -- just go into that a little bit for me. >> i think in the testimony i quoted mr. mcdaniel, who the moynahan commission quoted and said based on my experience with a few million pages of declassified documents, he's right, especially about

ryan moynahan spoke exclusively to bloomberg. let does be first about our team. we have the number one research team in the world. an increase from what they thought this year would be. an increase. in the low threes which would be a step up. their fundamental belief that has not changed a lot since the election. we believe the economy in the us will grow and in the world will grow. and it is more on the upswing. it picked up and selloff this year and we think it is back up your part of the uncertainty has been hampered by the markets and by people predicting outcomes. theh is interesting between brexit, the italian referendum and the french election and the u.s. election. all of that stuff that just happens. they said there would be a huge disruption. disrupted for just a few markets. there is tremendous momentum behind this. with the donald trump election, businesses are more active. they are talking harder. you are seeing that go on. and the oil and gas business -- rate cuts are coming up and that is good for capital expenses. our clients and we talked to them

we will bring you more on our exclusive conversation with bank of america ceo ryan moynahan on his to do list. ♪ michael: good morning, i am michael mckee in new york with francine lacqua in london. the bank of america chairman and ceo brian moynihan says most of the items on his to do list when he took over have now been completed. he spoke exclusively to david westin. brian: when i interviewed for the job in the latter part of 2009, i had a list, i literally had a list of all of the things that did not fit with the core franchise, consumer franchise, merchandising, and capital markets franchise. that came through a lot of the enterprises required. we needed to deal with overtime. i showed the board that, and the idea was if we took the risk out of those businesses, and took the capital and complexity out, you could tighten the company. we went from two points -- $2.7 trillion in assets down to about $2.2 trillion. we went from credit card operations in five or six countries down to one country. all of it was based on a basic principle that our basic business model was, all of our

gideon: the other quote i would use is, the old moynahan quote about you have the right to your own opinions but not euro in fact. does this administration respect facts in general? even if they put in ways that they do not want to see. francine: let's get away from facts and opinions and think about donald trump, the businessman. what kind of business relationship will he have with china? i know he has said antagonizing words and people are worried. but if he is a businessman, this is the only deal he needs to be sure to secure. gideon: you might think so. if that was the case, it would be unlikely to start out but picking a fight with china because of accepting the call of taiwan. we do not know. it is not fair to say that we are -- i think it is fair to s that we are in totally uncharted territory here. , how do you interpret the phone call with taiwan? is this a bargaining chip? it does not mean that he wants to antagonize china further. trump's firstr. foray into foreign affairs, and we really do not know. he is such a different candidate, different president, we are not sure of the dir

i spoke with the chairman and ceo, ryan moynahan and he gives what he sees is the bank -- is the path for bank's future growth. brian: think about a company which has been around in various parts for 200 plus years. and howacquisitions easy my job is, relatively. company andhuge that burden is not small, but it is interesting. david: he is feeling pretty good about his position. it is ironic because this bank has been the product of acquisitions and mergers and now he is out of the business. alix: i found that interesting about my take away from your interview. he is interested in the big risk-taking we -- not interested in the risk-taking we saw back in 2006. -- what his take was on the u.n., going forward in 2017 and the huge risk we could see that it could devalue more and if you wind up getting a border tax in the u.s., the dollar would shoot higher and the u.n. would fall and it could fall -- the dollar could rise against the u.n. the market is kabuki unprepared for that kind of event. david: china is unprepared for that as well, because that would be -- that would be manner -- r

david: i sit down with brian moynahan. jon: 27 minutes into the session. hold your breath. we are going to take a little bit longer. equities down 14. this is bloomberg. ♪ attention homeowners age sixty-two and older. one reverse mortgage has a great way for you to live a better retirement... it's called a reverse mortgage. call rfree information kityour with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money and more. plus, when you call now, you'll get this magnifier with led light absolutely free! when you call the experts at one reverse mortgage today you'll learn the benefits of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home... and here's the best part... you still own yohome. call now! take control of your retirement today! >> it is 10:00 a.m. in new york, 11:00 p.m. in hong kong. from new york, i'm julie hyman. mark: from london, i am mark barton. ." come to "bloomberg markets julie: we are

jonathan: you mentioned the experience of ryan moynahan against the experience of jamie dimon. he makes money. disco very different experiences. david: he has not seen those dark days that brian moynihan has. he thinks he can make good money off of basic banking. he keeps coming back to that one fact where everyone hundred basis points, they get more than $5 billion in incremental revenue. i asked him if that is still holding up and he said yes. he can make money on basic banking. laura: he has not changed his strategy, yet, so maybe that is good things to come for the following year. jonathan: everything thinks -- everyone thinks good things are coming. come, anill to exclusive interview on the latest with the trumpet not duration. boris epshteyn, the man helping to plan it all, spending his entire holiday. we look forward to speaking to him about what is coming up. we will find out. this is bloomberg. jonathan: from new york city, i am jonathan ferro. we await a lot of data coming out of the united states. futures pretty much going nowhere. , not mustw we are set -- not much

in skimming over some of this testimony i was fascinated by on the moynahan commission. we went through all this 20 years ago basically, and also what interested me the most is it seems to me that there is a real problem of overclassification but i saw where mister mcdaniel who was president reagan's national security advisor, only 10% of what has been classified needed to be classified. is that this was a tremendously bipartisan commission, jesse helms on the one hand and obviously disappointed very little was done with those recommendations. why do you think that was? do you think we should take another look at that. >> in testimony i quoted mister mcdaniel who said based on my experience with a few million pages of declassified documents he is right about historical materials which an estimate closer to reality for current material, terrorists and isis, the best estimate came from the republican head of the 9/11 commission who said 75% of what i read about al qaeda and osama bin laden that was classified shouldn't have been and we would have been safer as a country so