gapen,bring in michael barclays chief u.s. economist, and michael antonelli, bayard market strategist -- baird market strategist. is this sustainable? >> it is, but to the point we made a moment ago, it looks like growth is stabilizing. it will be interesting to see whether or not that corporate profitability shows through, and whether prices can follow, or this is a multiple expansion. if it is about multiples, the more constrained over time it will be. romaine: how concerned are you that the fundament of backdrop isn't as strong as some people think it can be? >> i think the idea here is everybody's modal expectation has been realized. we didn't expect these downside risks to materialize. to me, it is more about distributions. a verywere skewed in conservative way as we came into year end, but we got clarity on four fronts. u.s.-china trade, usmca come of the budget deal, the u.k. vote. now the questions are tilting in the other direction. do we get inflation? if so, when? if the fed is on the sideline, how do i position for

and barclays mackie spent £46,000 going to court. and ba rclays bank mackie spent £46,000 going to court. and barclays bank would not reimburse him until afterwards. journalism still has some uses to the public. many uses! whenever we do internet transfers, you think, what if i get a number wrong, here? imagine doing the whole amount all in one go. you might think, i will transfer £1000 first, just to make sure! i think transfer £1 first! this is why i am such a luddite when it comes to banking, i went to the bank and asked for a check and they looked at me like...! only if you days to go until the election. —— make a few days. do join us again same time next week. i will be back at 10pm with the latest news —— at 10am with the latest news. goodbye for now. good morning. it is going to get pretty wild out there for now, for the rest of the day and into tomorrow morning. the winds are beginning to strengthen. this is ambleside recently, clouds rolling through in the distance and the water is getting increasingly choppy but

economist at barclays. it is an election year. is that likely to affect the fed, they will not do much to rock the boat? michael: i think the fed would act if it felt it needed to. it probably raises the bar a little bit for action in either direction. if it is obvious the economy is weakening, they will need to respond. next year iso hike virtually impossible. you would need inflation running to 2.5% and inflation expectations moving higher. the most you can get out of the fed is a shift in communication around the middle of the year. the risk to the outlook balance. that is as far as i think they go. david: what things do you look at? what bellwethers? is it consumers? housing? michael: in terms of understanding how things could be better -- what we are paying a lot of attention to his participation. we would love to have productivity pick up, but there are ways you can get a benign outlook for the fed and a stronger-than-expected economy. that would be if the rise in participation continues. there are re

sonali: i think what is interesting is when you look at barclays, barclays is kind of in the second tier of prime brokers , right behind morgan stanley, jp morgan, and morgan sachs -- and goldman sachs. now you have bnp trying to take check --now you have a now you have deutsche trying to take shares away. michelle: everyone thought this was going to be that opportunity, but now the fact that deutsche is poaching from barclays means it is not as easy as they thought to take the share. jp morgan is one of the banks that has also said it is going to benefit from deutsche not being as strong in this area. they've been trying to be number three inequities after goldman and morgan stanley. sonali: they are saying the next stop is $1 trillion in businesses. alix: guys, thank you very much. in today's off the beaten street, this is what everyone is talking about. billionaire hedge fund manager riffing on his wealth while in the back of a new york taxi cap, and the driver was the so-called cabbie to the stars. >> on the highest ending person in the world of finance -- i'm the highest earning per

barclays to leapfrog and getting into the top 10. barclays actually falls out of the top 10. has not done that in a long time, and j.p. morgan chase, which we saw was at the very top in terms of its involvement of the deal, now jumps to number two globally in terms of being the number two biggest ipo bank. even so, the little piece alone allowed it to advance to the ninth spot, so that is a pretty big move there. again, this is significant. what these tables do is gauge the ranking of the banks in the emerging-market. only chineses the investment bank involved in the aramco ipo. how high does that rise? su: it actually shoots up to the 20th spot, has not been there in years. you talk about the banks involved in this. you mention it is the only chinese investment bank to get a role in the aramco offering, so it moves up 11 spots higher to the number 20th space on the global ipo league table, and that again is when the aramco deal closes. as i mentioned, it has been three years since the state-backed firm was at that high-level, and again, this is a major shuffle for these bank

it is just where barclays is concentrated in their efforts. at least for those 56 employees, more cheery news this holiday season. nejra: thank you so much. power to the people. the fomc is holding a final two day meeting of 2019 where it will issue its latest interest rates decision. policymakers are expected to aep rates on hold even after jobs report sent treasury yields higher. the meeting will include an update economic projections. these will signal whether policymakers are considering rate moves in the run-up to the presidential elections. -- earlier we were talking about the equity market. you said the pattern seems to be if things are worse on the u.s. china trade front, the market would price again more easing from the fed. how high is the bar for further rate cuts from the fed in 2020? hold.seems to be on i don't want to over simple five. -- oversimplify. to see if all of these tailwinds are producing effects in terms of economic growth, especially on business and manufacturing. when it comes to cutting rates, i don't think we know

the must see concerning barclays culture to ensure a. place to be curious minds. do it yourself networkers. so subscribing and don't miss out. if they're going to con i'm a heads into 20 twentieth's record setting pace for december completes the longest ever period of growth in the us and the 1st ever calendar decade without a recession. also coming up a landmark ruling in france telecom company is guilty of driving its employees to suicide. and with the rise of e-commerce still bad news for south africa's would seem that. this is your business report i'm stephen bears in berlin thanks for watching. it's a 1st in u.s. history the economy has expanded for 126 consecutive months and that also means it's the 1st time the country has recorded an entire calendar decade without a recession but both milestones were reported today by the national bureau of economic research to be fair the expansion began at a very low point the end of the great recession and it has been uneven with job growth slow at 1st and wages picking up later but it's been booming since donald trump

he earned 55 caps for hsi country, he follows john barclay who retired last thursday australia's ash barty‘s been named wta player of the year she won the french open — and reached the top of the world rankings. she had quit the sport to play cricket in 2014 but returned a couple of years later. the former south african captain graeme smith's agreed to become cricket south africa's director of cricket. but only in an acting capacity for a period of 3 months. south africa take on england in four tests starting in centurion on boxing day. and lords and hove cricket grounds are set to host the final days of next year's inaugural season of the hundred competition. the women's final will take place at hove on august 1ath, with the men's final at lord's the following day. staying with cricket, it's been a momentous day in pakistan. the country has played host to it's first test match for over ten years. cricket‘s traditional five day matches were suspended in the country following a terror attack on the sri lankan team bus in lahore back in march 2009. they've returned to play a two

. >> barclays predicts that the bugs as food market will be worth $8 billion in 2030. jean wells looks at a cricket farm in oakland. you're looking at a gateway bug, an insect with so much potential to feed the planet, it seems like a no-brainer. but will you eat it? >> this is our bpeanut butter. >> reporter: much of the world eats insects. but americans generally say, ew. don't judge. that's really good. a growing group of entrepreneurs may prove that bugs are the future. chef joseph yu's mission is to make insects look delicious. >> even if 10% of americans were to incorporate edible insects once a week, even that would be an impact on our environment. >> reporter: they have created insect-based dog food, with sales in the millions throwing every year. the sustainability message appeals to millennials, who will not eat the bugs themselves but have no problem giving it to their dogs. >> my daughter said she is a millennial. but she doesn't want to have children because she is worried about what the world will be like. >> reporter: demand is outstripping supply. the l

the chief economist with barclays and social research i'd like to start with you it seems the analyst read from the election results overnight is that the tories have come out with a larger majority than expected that also gives them a free hand in the sense that the erg and hard liners diminished what does that mean for you in terms of how brexit is going to go from here >> good morning, i think you hit the nail on the head the discussion on the size of the majority is depending on the size of the erg or at least those hard brexiters with such a large majority, johnson should have more freedom to adjust the course of brexit when needed. what everybody has in mind is when everybody should ask for an extension. is it possible to sign a trade deal in one year of course it is. it won't be the trade deal on the needs of the economy it won't replace the access to the single market. a pragmatic boris johnson will be well-advised to extend that period two years, three years, give more time to reduce the kind of compromises to get a deal done it is a deal with the eu but also with other count

for barclays or hscb, the most experienced thing to do is impose sanctions on everything. even us, because we have a website called iran lawyer, we are harassed by the banks. even though we have no one working in iran, even though we're very critical of the iranian government, our bank, barclays in london and here, they keep on asking us about our transaction. why? because we have iran in iran wire. even justice for iran, which is a human rights organization fighting against the iranian government is harassed because it has "iran" in its name. so that is -- but iranian government is also using these sanctions in order to cover its inefficiencies and mismanagement and blame the u.s. for all the miseries and problems. >> suzanne, how would you assess the american trump administration maximum pressure campaign in terms of its desired intentions to target the irgc, in particular, but regime elements, without alienating the population as a whole? how would you assess the effectiveness of that? >> i think overall, the u.s. strategy has been very effective at compounding the stru

he announced his decision hot on the heels of former captain john barclay who quit last thursday. 31—year—old seymour won 52 caps after making his debut in 2013. australia's ashleigh barty has been named as the wta player of the year after winning her first grand slam singles title and reaching the top of the world rankings. the 23—year—old, who quit the sport to play cricket in 2014 before returning to the game a couple of years later, became the first australian to win the french open since 1973 earlier this year. the former south african captain graeme smith has agreed to become cricket south africa's director of cricket butjust in an acting capacity. he's agreed to do the job for three months until the start of the indian premier league. the announcement comes just 15 days before the first of four tests against england which start in centurion on boxing day. lords and hove cricket grounds are set to host the final days of next year's inaugural season of the hundred competition. the women's final will take place at hove on august 14th, with the men's final at lord's the follo

former scotland rugby captain john barclay has played his last match for his country. he's announced his international retirement. the back row earned 76 caps and played in three world cups. he'll continue to turn out for club side edinburgh. israel folau and rugby australia have reached an out of court settlement over the full back‘s claim for unfair dismissal. his contract was terminated in may after homophobic posts on his social media. folau — who is a christian — argued it amounted to religious discrimination. yan bingtao has stunned neil robertson at the uk snooker championship in york. the world number four lost the first five frames on the way to a 6—1 defeat. anthonyjoshua says he's not travelled to saudi arabia for entertainment — just to win back the three world titles he lost to andy ruinunior earlier this year. the two faced off at the pre fight press conference ahead of their eagerly awaited heavyweight rematch. joshua has been talking about the ‘challenger mindset‘ that he's needed to prepare for the fight. andy as a respected heavyweight k

act, we tried very hard and came very close to getting a deal done with barclays. as we look back on it, as bad as that was, that was not the worst outcome that was possible. the crisis had been grinding on for a year. we had three financial institutions going down the same week. aig.n, merrill, and we had one buyer, and make of america bought merrill. , merrillought lehman would have failed in that would've been a bigger problem. the thing i will say about was, itas bad as it accelerated the crisis, it was a symptom not the cause. legislationately did get through congress, but it failed in the first vote in the house. what did you think then? hank: oh boy. we had a number of terrifying moments, and that was one of them. because, here is the best way to describe it. for months we wanted to get fiscal authorities, it was a big thing for the president to authorize this. there is no way you want to say giveve an emergency, and us these authorities, and then i get them and be naked with to prevent can do the meltdown of the financial system. when we went to congress, t

--y were downgraded by bert by barclays and hsbc yesterday. we are starting to see fundamentals back in play for the u.k. banking sector. they are part of the aerospace supply chain. a boeing supplier. the 737 weion for know what we halted in january. the supply chain is where the strain will be put. the 7ill boeing restart 37's. anna: thank you, annmarie hordern for those movers. this may explain why shares have soared 200% since its may ipo. companymay be why the makes the top 50 in the bloomberg survey. >> you will see us be very aggressive there. we are aggressive in each market that we occupy. you will see us move with speed and exploit the first mover advantage that we have globally in terms of building the brand most closely associated with the plant-based movement. you can guess that we are very excited about that market and very active in our plans. anna: let us talk about chicken. >> i am kind of hungry. test, in atlanta. it went gangbusters. how soon can you get into that market in a meaningful way? >> you will see some exciting thi

staying with rugby, the former scotland captainjohn barclay has announced his retirement from the international game. the edinburgh forward earned 76 caps and played in three world cups. his final appearance was against russia injapan this year. israel folau has come to an out of court settlement with rugby australia over his claim for unfair dismissal. folau, who's a christian, started legal action after his international contract was torn up in may for posting homophobic comments on social media. uefa has announced that the women's champions league will have a group stage from the 21/22 season. the changes mean three teams from england will qualify instead of two. the last 16 of the uk snooker championship is well under way with wins for scotjohn higgins and northern ireland's mark allen. hazel irvine and the team have been watching. two dramatic gains in their own right this afternoon at the start of the last 16 phases of the united kingdom championship, and the one shot i think it's going to stay with us shot i think it's going to stay with us today, kurt macklin. ranked in the 40s up again

mason sheets of pgim fixed income, nela richardson of edward jones, and maneesh desphande of barclays are all still with me. with a biden coming out tax that will raise $3.2 trillion to fund all this stuff. how do you look at 2020 and the proposals we are seeing for the democrats? how does the market and a ceo take all that in? nathan: i think the markets, also the corporate sector, are going to be following what happens in this election very closely. i think as we move further into 2020, this question of what will democrats do with taxes if they are elected is one that will loom very large. we saw joe biden's proposals out today, which was something in $3.5 trillionn to range, pretty moderate compared to what elizabeth warren might be proposing. i think the markets would be able to absorb biden level kinds of proposals. if you go much beyond that, i think it could be an enormous ,ource of uncertainty especially if we are in a world where trump is struggling, elizabeth warren gets the nomination, and it looks like she might have some support in congress to do what she wants. nela: i t

thing about lehman as i look back, we tried very hard and came very close to getting a deal done with barclays. as we look back on it, as bad as that was, that was not the worst outcome that was possible. the crisis had been grinding on for about a year. for many week financial -- weak financial institutions. we had three financial institutions going down the same week. lehman, merrill, and aig. it turns out we had one buyer. and bankamerica bought merrill. if they bought lehman, merrill would have failed and it would have been a bigger problem. the thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, legislation did get through congress, but it failed in the first vote in the house. what did you think then? hank: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get fiscal authorities. it was a big thing for the president to authorize this. there is no way you want to say we have an emergency, and give us these autho

barclay, peniment shot, denied. and three minutes later ryan johansson struggling in front. and 2 pof 0 sharks in front of the net. 'ing and miss the first time. the second time he bats the puck out of the air into the net. the predators slam the door, empty net goal in the final minute. sharks lose their fifth straight. 49ers giving back this holiday season holding their first ever hope for the holidays, hosting 400 underserved kids in nonprofits across the bay area. they got a new bike, new shoes, haircuts and much more. the players such it's a much more impact. >> making this investment in these kids you don't know how it's going to change lithey're lives. >> it's cool to see how excited these kids are just to see us, ♪ ♪ ♪ ♪ >>> in >> dicky: from hollywood, it's "jimmy kimmel live"! tonight dwayne johnson, from "watchmen", yahya abdul-mateen ii and music from she & him. and now, get ready, jimmy kimmel! ♪ [cheers and applause] >> jimmy: thank you. very nice. hi, i'm jimmy. i'm the host of the show. thanks for watching. thanks for coming. listen, i don't know ab

thing about lehman as i look back, we tried very hard and came very close to getting a deal done with barclays. as we look back on it, as bad as that was, that was not the worst outcome that was possible. the crisis had been grinding on for about a year. many weaker financial institutions. we had three financial institutions going down the same week. lehman, merrill, and aig. it turns out we had one buyer. and bankamerica bought merrill. if they bought lehman, merrill would have failed and it would have been a bigger problem. the other thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, legislation did get through congress, but it failed in the first vote in the house. what did you think then? hank: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get fiscal authorities. it was a big thing for the president to authorize this. there is no way you want to say we have an emergency, and give us these authorities, and th

you know in this cramped kitchen shugart doctor is making barclays per family of 6 she's using the traditional cooking stall a julia which blows out clouds of smoke. on the market it's a beautiful the use of mud still. we don't have an alternative look at the markets people have cooked with to last for generations is their business we don't have the money to buy better fuel. if we did we might be able to use another kind of story like i guess which is. in google india over 77 percent of households still use 5 cheap and easy to access liquid petroleum gas or l.p.g. is a privilege reserved for the. google with open fire means long hours to spend a hot stove breathing in kerosene fumes and smoke from food and. collecting food is a burden on the environment and a strenuous task for them and. luck to them along they have to go far into the forest to collect wood sometimes very far sometimes we don't have to go so far but the good with an axe tight the pieces together and carry it home on our heads from work at it is a couple to get a little room. 6 does that it usually takes a boat one or 2 hours t

thing about lehman as i look back, we tried very hard and came very close to getting a deal done with barclays. as we look back on it, as bad as that was, that was not the worst outcome that was possible. the crisis had been grinding on for about a year. for many week financial institutions. we had three financial institutions going down the same week. lehman, merrill, and aig. it turns out we had one buyer. and bankamerica bought merrill. if they bought lehman, merrill would have failed and it would have been a bigger problem. the thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, legislation did get through congress, but it failed in the first vote in the house. what did you think then? hank: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get fiscal authorities. it was a big thing for the president to authorize this. there is no way you want to say we have an emergency, and give us these authorities, and then i

we're seeing --" they've gone to see paul mccartney at the barclays center in brooklyn. and they said, "so we're going to come over." because billie jean had never been and she was longing to go so i said, "all right, i'll see you in a wee bit." so i go to the bar and i say, "oh, hey, everybody, billie jean king and emma stone are coming in a minute." and they're all like, "all right. and then, about ten minutes after that, emma goes, "oh, my god, oh, my god. paul mccartney is coming with us too." and so, everyone started to freak out. and it was like a joke like these black suvs pulled up on our little street in the east village and it was like a joke because, like, paul mccartney, emma stone and billie jean king walk into a bar. [ laughter and applause >> jimmy: i mean, how fun is that how random is that >> very. and we all were having such a laugh and having drinks. and what's hilarious is that my husband, grant - you know grant >> jimmy: yeah >> he did these murals, these lovely murals. and there's sort of this thing we have where there's kind of, like, sort of naked

you know in this cramped kitchen shugart doctor is making barclays for her family of 6 she's using a traditional cooking stall a juno which blows out clouds of smoke. on the market it's a beautiful the use of mud still. we don't have an alternative look at the markets people have cooked with us for generations that's their business we don't have the money to buy better fuel. if we did we might be able to use another kind of story and like i guess he's. in google india over 77 percent of households still use 5 cheap and easy to access liquid petroleum gas or l.p.g. is a privilege reserved for the. google with open fire means long hours to spend a hot stove breathing in kerosene fumes and smoke from food and dung. collecting boat is a burden on the environment and a strenuous task for them and. lucky that no longer have to go far into the forest to collect wood sometimes. sometimes we don't have to go so far but the boot with an axe tight the pieces together and carry it home on our heads from we'll probably just the couple to get along with the book i want them gets the. right. 6 size

thing about lehman as i look back, we tried very hard and came very close to getting a deal done with barclays. as we look back on it, as bad as that was, that was not the worst outcome that was possible. the crisis had been grinding on for about a year. we had three financial institutions going down the same week. lehman, merrill, and aig. it turns out we had one buyer. and bankamerica bought merrill. if they bought lehman, merrill would have failed and it would have been a bigger problem. the thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, legislation did get through congress, but it failed in the first vote in the house. what did you think then? hank: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get fiscal authorities. it was a big thing for the president to authorize this. there is no way you want to say we have an emergency, and give us these authorities, and then i get them and be naked with nothing yo

barclays calling for lower returns in a high-yield space, writing, we expect triple c spreads to be relatively unchanged in 2020 with higher default losses and price declines remaining elevated for downgraded bonds in this ratings bucket." you also had ubs coming out talking about how the ccc space and the weakness we have seen and leverage loans a leading indicator of what we may see next year. marilyn, do you agree? marilyn: next year, talking about dispersion, duration, i think it is really going to be critical what we see from the u.s.-china trade talks. also the huge uncertainty coming from the u.s. election. we have yet to see the policies of the democratic candidates, yet to see in terms of the fiscal space in the u.s., what will be possible. there are huge amount of unknowns that we have yet to price into the markets for next year. lisa: matt, ccc's, polling nice, or staying away? matt: we are staying away. definitely the focus of our strategy group is up in quality. that has been our focus this year and that will continue to be our focus in 2020. lisa: coming up, the final spread, the

us from toronto is john aiken, barclays director of global research. it is a deep job cut, it will be a big restructuring charge, putting off by fax for a quarter or two. characterize these cuts. is this something the bank had to do, will others have to follow? series ofave seen a restructuring charges from the banks. if you take a look at what the banks have been doing, they have been restructuring, trying to improve their inefficiencies. whether they take a restructuring charge depends on the depth of the cuts they are anticipating, as well as the timing. , it wasaround, bmo anticipated by the market that we would see a restructuring charge. don't believe we will see this with the rest of the banks this quarter, but you never know what banks may need in 2020, whether or not revenues come in line with expectations. there are a budget of variables in play. toh of the banks are trying improve their efficiency, get expenses down, because we are a new lower revenue environment that may have been the past two years. shery: it doesn't help with the bank of

thing about lehman as i look back, we tried very hard and came very close to getting a deal done with barclays. as we look back on it, as bad as that was, that was not the worst outcome that was possible. the crisis had been grinding on for about a year. there were many weak financial institutions. we had three going down the same weekend. lehman, merrill, and aig. it turns out we had one buyer. and bankamerica bought merrill. if they bought lehman, merrill would have failed and it would have been a bigger problem. the other thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, legislation did get through congress, but it failed in the first vote in the house. what did you think was going to happen then when it failed? hank: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get fiscal authorities. it was a big thing for the president to authorize this. there is no way you want to say we have an emergency, and give us t

barclays calling for lower returns in the high-yield space, writing, we expect triple c spreads to be relatively unchanged in 2020 with higher default losses and price declines remaining elevated for downgraded bonds in this ratings bucket." you also had ubs coming out talking about how the ccc space and the weakness we have seen in leverage loans a leading indicator of what we may see next year. marilyn, do you agree? marilyn: next year, talking about dispersion, duration, i think it is really going to be critical what we see from the u.s.-china trade talks. also the huge uncertainty coming from the u.s. election. we have yet to see the policies of the democratic candidates, yet to see in terms of the fiscal space in the u.s., what will be possible. there are huge amount of unknowns that we have yet to price into the markets for next year. lisa: matt, ccc's, polling nice, you or staying away? matt: we are staying away. definitely the focus of our strategy group is up in quality. that has been our focus this year and that will continue to be our focus in 2020. lisa: everyone is sticki

barclay, peniment shot, denied. and three minutes later ryan johansson struggling in front. and 2 pof 0 sharks in front of the net. 'ing and miss the first time. the second time he bats the puck out of the air into the net. the predators slam the door, empty net goal in the final minute. sharks lose their fifth straight. 49ers giving back this holiday season holding their first ever hope for the holidays, hosting 400 underserved kids in nonprofits across the bay area. they got a new bike, new shoes, haircuts and much more. the players such it's a much more impact. >> making this investment in these kids you don't know how it's going to change lithey're lives. >> it's cool to see how excited these kids are just to see us, the i need all the breaks, that i can get. at liberty butchumal- cut. liberty biberty- cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ you want a fresh-smelling home, but some air fresheners use heavy, overwhelming scents. try febreze on

it took capital or a loan guarantee came very close to getting a deal done with barclays. but as we look back on it, as bad as that was, that was not the worst outcome that was possible. because the crisis had been grinding on for about a year. there were many weak financial institutions. we had three going down the same weekend. lehman, merrill, and aig. it turns out we had one buyer, and bankamerica bought merrill. if they bought lehman, merrill would have failed and it would have been a bigger problem. the other thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, tarp legislation did get through congress, but it failed in the first vote in the house. what did you think was going to happen then when it failed? hank: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get these fiscal authorities. it was a big thing for the president to authorize this. because there is no way you want to go and sa

thing about lehman as i look back, we tried very hard and came very close to getting a deal done with barclays. as we look back on it, as bad as that was, that was not the worst outcome that was possible. the crisis had been grinding on for about a year. for many weak financial institutions. we had three financial institutions going down the same week. lehman, merrill, and aig. it turns out we had one buyer. and bankamerica bought merrill. if they bought lehman, merrill would have failed and it would have been a bigger problem. the other thing i will say about lehman, as bad as it was, it accelerated the crisis, it was a symptom, it was not the cause. david: ultimately, legislation did get through congress, but it failed in the first vote in the house. what did you think then? sec. paulson: oh, boy. we had a number of terrifying moments, and that was one of them. because -- here is the best way to describe it. for months, we wanted to get fiscal authorities. it was a big thing for the president to authorize this. there is no way you want to say we have an emergency, and give us these authoriti

hamilton might have ripped these guys quickly barclays initiated on november 25th 257 price target it gets there that tyler is the sweet spot that mike just choke of. >> all right, gentlemen taking a break. remember that big market selloff earlier this woke. seems like forever ago one of our traders is still spying some choppy trading into the year end we will break down the action on that one don't go anywhere much more "options action" is coming up next ♪ >> announcer: "options action" is sponsored by think or swim by td ameritrade. ♪ ♪ ♪ [ electrical buzzing ] [ dramatic music ] ahhhh! -ahhhh! elliott? elliott. you came back! ♪ ♪ ♪ ♪ ♪ >>> all right. welcome back to "options action." time loo look back at an open trade. last time the show aired last friday. >> no we had thanksgiving. >> we had thanksgiving that's why the show was usurped. >> two weeks ago, t. >> dan nathan two weeks ago laid out a way to protect the portfolio into the end of the year listen. >> if you enjoyed nice gains in the stock market this year but also have the memory of the q4 decline last

. >> that signs like a line out of hamilton >> no, that's options action that's what these guys say barclays initiated november 25th, 257 price target it gets there. that, tyler, is the sweet spot. >> we'll take a break. >>> remember that big market sell-off earlier this week seems like forever ago one of our traders is still spying some choppy trading into the year end we'll break down the action on that one don't go anywhere. much more "options action" is coming up next ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> welcome back to "options action." time too look back at one of our open trades. the last time this air showed was probably last friday >> no, we had thanksgiving that's why the show was usurped. it was two weeks ago >> well, dan nathan two weeks ago laid out a way to protect your portfolio into the end of the year listen >> if you enjoyed really nice gains in the stock market this year, but you also have the memory of the q4 decline last year and you are saying to yourself, how can i protect my portfolio or how can i profit from, let's say, a decline, an unexpected decline in the

in war barclays, goldman sachs, others that may have a range to sell to institutional investors. direct lenders are just taking those deals away at the moment. murray lisa: how much could they -- lisa: how much could they how end up taking away from public markets, some of these wrong apollos and blackstones of the world? what we are seeing a real -- lisa: we are seeing a real emergence of a new asset class. apollo suggests as much as 10% of the high-yield loan and debt market could go private in the next five years. that is a huge amount. lisa: yeah and it brings up questions about the risk that is embedded when you have more of this business moving to private firms that focus on private debt, which brings me to jason. and as we talk about risk, regulators are focusing in on private markets, but figuring out ways to open them, not necessarily close them down or shut down risk. how is the sec trying to democratize private risk in equity? jason: it's a great question, and here in washington, lisa, they are looking at ways to make the pool at least a little bit bigger. this is the

he announced his decision hot on the heels of former captain john barclay who quit last thursday. the 31—year—old won 52 caps after making his debut in 2013. both teams have gone through their final preparations for golf‘s presidents cup between team usa and an international team — not including european players. it'll be played over three days in melbourne, with this man tiger woods playing for and captaining team usa. they've dominated the biennial competition since it began in 1994, and rickie fowler says woods could be the reason why, because he never switches off. everyone knows he doesn't sleep a lot, so thank a lot of the text that we get or i have gotten, you have to wa ke we get or i have gotten, you have to wake up to in the morning, he sent them in the middle of the night. as pa rt them in the middle of the night. as part of that, he cannot sleep, he is thinking so much about what is going on. that's all the sport for now. but don't forget you can watch the opening match of the club world cup in doha as al—sadd take on hienghene, on the red button and the ipla

pink but there benjamin reid there thanks so much for joining us in this year let's go straight to the barclay brothers telegraph which is related to why you are in london major some adult trump says we would be in world war 33 if it wasn't for me why you protesting this weeks today we'll hear some a takeoff on this because he was saying it referring to north korea which he really pushed that crisis by going into that whole fire and fury issue you know he is mr world with 3 if there's going to be a world where 3 actually would be around iran where he is creating this incredible conflict totally manufactured by donald trump where here because we think that nato should have been disbanded in when the soviet union fell apart that there's no need for this military alliance that it just sucks up a lot of money that goes to weapons manufacturers and we know the like here in the u.k. their campaign saying no we don't want to do that we want our money to go to things like health care education green new deal who are we fighting against to he wants to fight against well you know he installed them but i

but they're benjamin with their thanks so much for joining us in this year let's go straight to the barclay brothers telegraph which is related to why you are in london major some adult trump says we would be in world war 33 if it wasn't for me why you protesting this weeks today well he 1st saw me take off on this because he was saying it referring to north korea which he really pushed that crisis by going into that whole fire and fury issue you know he is mr world with 3 if there's going to be a world where 3 actually would be around iran where he is creating this incredible conflict totally manufactured by donald trump where here because we think that nato should have been disbanded in when the soviet union fell apart that there's no need for this military alliance that it just sucks up a lot of money that goes to weapons manufacturers and we know the like here in the u.k. their campaign saying no we don't want to do that we want our money to go to things like health care education green new deal who are we fighting against to he wants to fight against well that you know he installed the

steve barclay. well, with a majority of 80 in this new parliament — the result of the vote was never in doubt. the ayes to the right — 358. the noes to the left — 234. cheering. the ayes to the right — 358. the noes to the left— 234. so the ayes have it, ayes have it. unlock! cheering. so the bill passed it's second reading with a majority of 124. it means the bill can now go on to be considered in more detail, when mps return after the christmas break on january the seventh. they've agreed a timetable, which will give them three days to wrap up all the remaing stages of the withdrawal agreement bill in the commons — before sending it off to the house of lords. and that's it from me — and the day in parliament team — for now — and indeed for this year. we'll be back after christmas when mps and peers return on january the seventh. but until then from us have a very merry christmas and a happy new year. good morning. what a miserable week of weather it has been for many of us, with

pink but there benjamin reid there thanks so much for joining us in this year let's go straight to the barclay brothers telegraph which is related to why you are in london major some adult trump says we would be in world war $33.00 if it wasn't for me why are you protesting this week's today we'll hear some a takeoff on this because he was saying it referring to north korea which he really pushed that crisis by going into that whole fire and fury issue you know he is mr world with 3 if they're going to be a world where 3 actually would be around iran where he is creating this incredible conflict totally manufactured by donald trump where here because we think that nato should have been disbanded in when the soviet union fell. apart that there's no need for this military alliance that it just sucks up a lot of money that goes to weapons manufacturers and we know the like here in the u.k. their campaign saying no we don't want to do that we want our money to go to things like health care education green new deal who are we fighting against to he wants to fight against what you know he installed

he announced his decision hot on the heels of former captain john barclay who quit last thursday. 31—year—old seymour won 52 caps after making his debut in 2013. both teams have gone through their final preparations for golf‘s presidents cup between team usa and an international team — not including european players. it'll be played over three days in melbourne, with this man tiger woods playing for and captaining team usa. they've dominated the biennial competition since it began in 1994... and rickie fowler says woods could be the reason why. because he never switches off. everyone knows he doesn't sleep a lot, so thank a lot of the text that we get or i have gotten, you have to wake up to in the morning, he sent them in the middle of the night. as part of that, he cannot sleep, he is thinking so much about what is going on. they hope that attention to detail would drive them onto victory this time. tottenham have just would drive them onto victory this time. tottenham havejust equally nice. we will have all of the results from the champions league to come in sportsday. ——

pink but there benjamin reid there thank so much for joining us in this year let's go straight to the barclay brothers the telegraph which is related to wire in london major some adult trump says we would be in world war 33 if it wasn't for me why are you protesting this week's today we'll hear a summary a takeoff on this because he was saying it referring to north korea which he really pushed that crisis by going into that whole fire and fury issue you know he is mr world where 3 if there's going to be a world where 3 actually would be around iran where he is creating this incredible conflict totally manufactured by donald trump where here because we think that nato should have been disbanded in. when the soviet union fell apart that there's no need for this military alliance that it just sucks up a lot of money that goes to weapons manufacturers and we know the like here in the u.k. their campaign saying no we don't want to do that we want our money to go to things like health care education green new deal who are we fighting against to he wants to fight against well you know he installed t

trish and joins us from barclays . christian, explain to the global audience, united kingdom history of going outside to get other names like mr. carney and like mr. warsh. that is absolutely original, isn't it? christian: it definitely is. being german myself, the bundesbank and many other banks are much traditional. gois unusual for a bank to from such a wide array. we talked about other potential candidates. i think it is a good thing. it really shows that you are picking the most able from an international audience and do not limit yourself to one nationality. it is a true british tradition. it is a positive thing. the technical post, precisely said, do they need a lagarde? warshthat because kevin came in with, "yeah, yeah, another wall street guy, great." everyone raved about his 10 year service with the bank -- with the federal reserve. does the bank of england need a technician? do they need something in between? christian: i think you say something that is very true in the sense that central banking, through wh

to these financial institutions and explain -- don't explain the situation that, no, this is -- for barclays or hscb, the most experienced thing to do is impose sanctions on everything. even us because we have a website called iran lawyer, we are harassed by the banks. even though we have no one working in iran, even though we're very critical of the iranian government, our bank, barclays in london and here, they keep on asking us about our transaction. why? because we have iran in iran wire. even justice for iran which is a human rights organization fighting against the iranian government is harassed because it has "iran" in its name. so that is -- but iranian government is also using these sanctions in order to cover its -- to -- its inefficiencies and mismanagement and blame the u.s. for all the miseries and problems. >> suzanne, how would you assess the american trump administration maximum pressure campaign in terms of its desired intentions to target the irgc, in particular, but regime elements, without alienating the population as a whole. how would you assess the effectiveness of tha

we can speak now to the brexit secretary, stephen barclay. a very good morning to you and thank you for your time. given the scale of the tory win and the general election, this today, unlike previous occasions, is something of a formality? it is an historic day. a clear message that people wanted it done, the healing process to start and to start bringing the country back together and we have an opportunity now in parliament today to pass the second reading and move the bill forward and actually then be able to move the country forward after what has been a very long and often very divided three years. let's talk about the eu withdrawal agreement itself. certain elements have been changed and brought forward today. anyone who works will be interested in workers rights and thatis be interested in workers rights and that is an area that has been stripped out of the eu withdrawal agreement. i have you taken these specific clauses out in relation to workers rights? because we are doing it through the queen's speech. we have a specific employment

barclays upgraded the stock. says that cisco has a diversified revenue stream and a few key product areas should improve for cisco over the next year. that was look at your top tech calls. that does it for this edition of bloomberg technology. bloomberg technology is livestreaming on twitter. follow our breaking news network on quicktake on twitter. this is bloomberg. ♪ the california gold rush is considered -- it has certainly had a long-lasting impression in numismatic history, as well. the people of california needed a way to standardize the value of new gold, so they set up