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May 7, 2024
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chair, gary gensler.e to see you. >> one of the things i wanted to ask you, when you look at the headlines around what the s.e.c. is doing and what your priorities are, it's hard to tell how much of your focus today is on the stock market writ large versus the world of crypto and trying to figure out the future of etheorem and other things how do you see it? >> well, i see it this way we oversee $110 trillion capital market about half of that is the stock market, half, as you might know, is the bond market and other markets. crypto is a small piece of our real markets and -- but it's an outsized piece of the scams and frauds and problems in that market, because without pre-judging any one token, much of this field is not-compliant with the protections of our securities laws and so thus, you end up with like an outsized ratio of journalist's questions and crypto journalists to market cap. >> is that a function of the fact that's where your attention is too >> no, it's a function of where your attention is.
chair, gary gensler.e to see you. >> one of the things i wanted to ask you, when you look at the headlines around what the s.e.c. is doing and what your priorities are, it's hard to tell how much of your focus today is on the stock market writ large versus the world of crypto and trying to figure out the future of etheorem and other things how do you see it? >> well, i see it this way we oversee $110 trillion capital market about half of that is the stock market, half, as you might...
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May 22, 2024
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i don't know what is in gary gensler's mind. therefore you can't put it in an a etf therefore it is legally. liz: can i stop you there? you said that yesterday. there are many securities in etfs. >> no reason to buy a crypto in an etf it is a different structure. liz: i want to clarify that. >> also they would have to, if it is really a security illegally issued, etherium foundation or whoever issued it, the ethereum people would have to go to the sec fill out the paperwork, pay all the money, pay out a fine. it become as huge thing if it is declared a security. it is not a bad question. it is worth talking about, but remember, this thing in order for it to really work, you have to say it is a currency or commodity, excuse me. >> i see. >> so he has gone from that, suggesting it was a security to a 180, maybe i will let it go into one of these etfs because it might not be or some of might not be. this is a huge win for the crip cocommunity. it shows my view, mr. gensler would have a different view of this, shows their raw politi
i don't know what is in gary gensler's mind. therefore you can't put it in an a etf therefore it is legally. liz: can i stop you there? you said that yesterday. there are many securities in etfs. >> no reason to buy a crypto in an etf it is a different structure. liz: i want to clarify that. >> also they would have to, if it is really a security illegally issued, etherium foundation or whoever issued it, the ethereum people would have to go to the sec fill out the paperwork, pay all...
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May 21, 2024
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i think what gensler, the gary gensler is seeing the courts are starting to rule in their favor.yscale won in a federal appeals court, allowing them to basically do some sort of a etf on a pool of bitcoin essentially. so there's movement in the courts for less regulatory, sort of clamp down on this etf thing and here's where it gets kind of tricky and this is just something for people to realize, you know, gensler has said he thinks ethereum could be a security, not a commodity. if it is a security you can't make it into an etf, it is issued illegally. one way he could split the baby, and we've been talking to people close to the sec about this, is in the way, there are two different types of ethereum out there. there is the ethereum they sort of changed their blockchain, i'm not a expert at this, they did it in 2013. the stuff before that is it less centralized, if it is less centralized it doesn't fail the howie test, it is not a security. centralized the way ethereum when they changed their system, i think it is proof of stake i think it is called in 2023, when that happens, i
i think what gensler, the gary gensler is seeing the courts are starting to rule in their favor.yscale won in a federal appeals court, allowing them to basically do some sort of a etf on a pool of bitcoin essentially. so there's movement in the courts for less regulatory, sort of clamp down on this etf thing and here's where it gets kind of tricky and this is just something for people to realize, you know, gensler has said he thinks ethereum could be a security, not a commodity. if it is a...
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May 13, 2024
05/24
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but that's fine according to gary gensler.ple is bad, something evil with those guys, ethereum, that might be bad. you know, got to know what everybody is doing to stop climate change, like that is really going to stop climate change, because companies in china and india are going, oh, god. ashley: exactly. they're not playing the game. >> they're not playing the game but this is okay. you know, whatever. ashley: it is a funny old world, charlie gasparino but if anyone can make sense of it is you and just looking at that cartoon picture today, just really says it all, what the heck, right? what the heck. >> looks like he is sitting on the toilet a little bit. maybe he was. maybe he was. that's a chair. it would be the same thing, wouldn't it? ashley: i don't see a toilet handle so -- >> would it be metaphorically, almost the same thing, isn't it? ashley: yeah, really. getting flushed. we'll leave it right there, charlie gasparino. >> before this gets really dirty. ashley: more gray hairs after this interview. yeah, right, than
but that's fine according to gary gensler.ple is bad, something evil with those guys, ethereum, that might be bad. you know, got to know what everybody is doing to stop climate change, like that is really going to stop climate change, because companies in china and india are going, oh, god. ashley: exactly. they're not playing the game. >> they're not playing the game but this is okay. you know, whatever. ashley: it is a funny old world, charlie gasparino but if anyone can make sense of...
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May 6, 2024
05/24
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gary gensler's s.e.c. was emphatic about how they viewed ether, the second-biggest cryptocurrency.e will see what happens. it is just one of the things that we will see play out over the next few months for sure. sonali: thank you for keeping an eye on all things financial regulation. coming -- next, pnc and twc teaming up for a middle-market private reddit platform. the hottest new thing on wall street and the details are coming up next. stick with us. this is bloomberg. ♪ sonali: this is this is bloomberg. ♪ -- this is "bloomberg markets." time for the wall street beat in today we look at the partnership between tcw and pnc financial as they look to build out a private credit platform. joining us with more is john sage, one of our key private credit reporters here at bloomberg. you have been very busy on your beat lately. we have seen a lot of these deals popping up recently. how does this one compared to others you have seen? john: what the banks, it similar, because it they need to hang onto fees streams. these smaller banks collapsing, saying that you cannot make as many loans
gary gensler's s.e.c. was emphatic about how they viewed ether, the second-biggest cryptocurrency.e will see what happens. it is just one of the things that we will see play out over the next few months for sure. sonali: thank you for keeping an eye on all things financial regulation. coming -- next, pnc and twc teaming up for a middle-market private reddit platform. the hottest new thing on wall street and the details are coming up next. stick with us. this is bloomberg. ♪ sonali: this is...
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May 22, 2024
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gensler aggressively pursue litigation against the crypto industry. people trying to do it the right way. while trying to rein him, in we ought to ensure the cftc knows exactly what they can and cannot do. he won't be there forever. there'll be some next person that's going to come along and say well, congress wasn't really sure. we are sure. that's what this amendment does, madam chair and i reserve the balance. the chair: the qulelt reserves. for what purpose does the gentleman from south dakota seek recognition? >> madam chair, i ask unanimous consent to claim time in opposition though i'm not in opposition to the amendment. ms. waters: i'm oppose. the chair: prurp does the gentlelady from california rise? ms. waters: i rise to claim time in opposition. the chair: the gentlelady is recognized. ms. waters: under h.r. 4763, crypto deemed to be a digital commodity would come under the cftc's per view which would -- purview which would include a new authority for them to regulate crypto spot marks. however this amendment would ensure that this new auth
gensler aggressively pursue litigation against the crypto industry. people trying to do it the right way. while trying to rein him, in we ought to ensure the cftc knows exactly what they can and cannot do. he won't be there forever. there'll be some next person that's going to come along and say well, congress wasn't really sure. we are sure. that's what this amendment does, madam chair and i reserve the balance. the chair: the qulelt reserves. for what purpose does the gentleman from south...
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May 14, 2024
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is gensler going to say i'm breaking that trade? >> at the market? i don't know what gensler is going to do. >> sorry to be proactive. >> are they back in the office yet at the sec? >> that i don't know. a lot of companies like walmart are making people go back. >> a journal piece today about corporate layoffs, asking the majority of workers to return to the office the majority of the time. >> i'm going to say that story is true, but it's not anything having to do with whether the company is doing well or badly. i think this is a moment where they're trying to inflation fight. if you're an inflation fighter as opposed to lover, you're not going to be able to blow out the numbers. walmart is a brand new walmart. doug mcmillen has had a sense of the psyche of the united states including much better house brands. kroger does, too, kroger is involved with that crazy acquisition. >> we talked about new private labels. we haven't mentioned kfc and oscar mayer. >> how do you like that? that is a core product of that pathetic -- >> it's got to be only privat
is gensler going to say i'm breaking that trade? >> at the market? i don't know what gensler is going to do. >> sorry to be proactive. >> are they back in the office yet at the sec? >> that i don't know. a lot of companies like walmart are making people go back. >> a journal piece today about corporate layoffs, asking the majority of workers to return to the office the majority of the time. >> i'm going to say that story is true, but it's not anything having...
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May 14, 2024
05/24
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if you are gary gensler, think about corporate priorities, in the private sector just yet, they are climate controlled. and stopping global warming in 30 years which is impossible to measure. and markets and stocks and allow people to trade 0 commissions or something that farias is there. and met with one of the scammers. and whether either, and some better on that. and that's the priorities. getting torched. after this. and not going to do anything about that. and got torched on the use. and small investors. the guys pumping and dumping. >> we want to turn your attention, downtown manhattan. donald trump and a loss in his hush money trial is his lawyers grill michael cohen, ♪ do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. (ella) fashion moves fast. (jen) so we partner with verizon to take our operations to the next level. (marquis) with a custom private 5g network. (ella) w
if you are gary gensler, think about corporate priorities, in the private sector just yet, they are climate controlled. and stopping global warming in 30 years which is impossible to measure. and markets and stocks and allow people to trade 0 commissions or something that farias is there. and met with one of the scammers. and whether either, and some better on that. and that's the priorities. getting torched. after this. and not going to do anything about that. and got torched on the use. and...
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May 7, 2024
05/24
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chair gary gensler. that interview in the 8:00 hour. big interview in the 7:00 hour. i wish i could be at the table with you i hope to be involved in the con v versation. you have druckenmiller >> it will be a half hour. there will be time or 25 minutes or so, i think, stanley was last on in october. i was just figuring out how to
chair gary gensler. that interview in the 8:00 hour. big interview in the 7:00 hour. i wish i could be at the table with you i hope to be involved in the con v versation. you have druckenmiller >> it will be a half hour. there will be time or 25 minutes or so, i think, stanley was last on in october. i was just figuring out how to
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May 27, 2024
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but so far the sec chair, gary gensler, opposed to that sort of thinking.think there could be some failed trades in that process. t+1 taking effect from tuesday trading in the u.s. we are also checking what's happening in commodities generally. wti pushing higher at the open. 1%, just below $79 a barrel. you have opec+ in focus. the meeting is happening in early june. the expectation is you will see output curves extended further. also keeping an eye on iron ore. prices closer to that $120 a ton mark. we are seeing chinese property shares pull back a little bit . we are seeing iron ore. we will see how prices fare over the coming days as investors assess the credibility of those chinese property reforms. but also that focus on climate come of course. as we know, much of south and southeast asia have been sweltering under a severe heat wave, one that's caused power outages and deaths across the region. it's a problem that's aggravated by a changing climate and poor urban design. bloomberg's paul allen has more. paul: for two weeks, karachi's 15 million resid
but so far the sec chair, gary gensler, opposed to that sort of thinking.think there could be some failed trades in that process. t+1 taking effect from tuesday trading in the u.s. we are also checking what's happening in commodities generally. wti pushing higher at the open. 1%, just below $79 a barrel. you have opec+ in focus. the meeting is happening in early june. the expectation is you will see output curves extended further. also keeping an eye on iron ore. prices closer to that $120 a...
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May 22, 2024
05/24
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i was laughing out loud it looks like someone went to gary gensler.nd you have to think why that was. it's because banks in wall street are making money. banks get a really bad deal in today's market because they have the bond -- by bonds are performing awfully. they get a free market in this independent crypto thing and they are making money. these markets go up when governments to base their currency these things perform well. and they got a taste of bitcoin it was the best performing product they had ever had and they are like how many other pieces are out there that we can enlist as etf's and i think that's what's happening. it's a better business to launch crypto etf senate is to buy bonds right now. based on the macro environment. i think someone said sorry despite you thinking these things are securities need to make money and that's what happened. >> dow's of representative's currently taking on a bill at the moment as to whether it should be the sec at all or whether it should be shifted, but to your point whether you in theory him does indee
i was laughing out loud it looks like someone went to gary gensler.nd you have to think why that was. it's because banks in wall street are making money. banks get a really bad deal in today's market because they have the bond -- by bonds are performing awfully. they get a free market in this independent crypto thing and they are making money. these markets go up when governments to base their currency these things perform well. and they got a taste of bitcoin it was the best performing product...
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May 22, 2024
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we have chairman gary gensler at the exchange commissions trying to put forward policies through enforcement actions and it's incredibly destructive in the broader space. we need to pass this bill you referenced to put forward a frame work to allow innovation and development to occur in the united states. the big concern as it relates to crypto and it's going to that's going to occur in the united states. >> we all remember the ftx disaster that hap happened withm bankman-fried. do we really trust, congress, i know that congress is blaming administration and blaming are any poll cigses up to the task of leg rating this market? >> this is a tremendous challenge to do it and as we see as the congressman said, there's an internal fight going on right now. david: great to see you both. thank you very much. excitement growing ahead of former president trump's rally in south bronx. that takes place tomorrow. many are comparing to ronald reagan's visits to the bronx in 1908 and won that election and state of new york. new york >> when theysay electir me because i'm a democrat. that's what they said
we have chairman gary gensler at the exchange commissions trying to put forward policies through enforcement actions and it's incredibly destructive in the broader space. we need to pass this bill you referenced to put forward a frame work to allow innovation and development to occur in the united states. the big concern as it relates to crypto and it's going to that's going to occur in the united states. >> we all remember the ftx disaster that hap happened withm bankman-fried. do we...
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May 23, 2024
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gary gensler the head of the sec was reluctant to approve spot going back spot bitcoin etf's.s forced into it by court ruling. do we think the sec is holding its nose in the same way when it comes to the spot ether etf's? >> although we are involved in the process, we are not experts on the sec and what happens inside the sec. we would say the facts are in line with the letter that members of congress sent to the sec. the facts point to approval that the sec should approve. if we go by the framework and the bars set in the approval of bitcoin, if we apply the same standard that was applied when the spot bitcoin etf's were approved in january and that is is ether a commodity? all historic regulatory actions from the major regulatory agencies in the usa .2 the fact it is. the cf tc approved ether few chance -- either futures and options as commodity futures contracts. the sec has authorized ether etf -- either future etf's to be traded. as commodity futures contracts etf's to there's no -- as commodity futures contracts etf's. on top of that the other bar the sec had previously
gary gensler the head of the sec was reluctant to approve spot going back spot bitcoin etf's.s forced into it by court ruling. do we think the sec is holding its nose in the same way when it comes to the spot ether etf's? >> although we are involved in the process, we are not experts on the sec and what happens inside the sec. we would say the facts are in line with the letter that members of congress sent to the sec. the facts point to approval that the sec should approve. if we go by...
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May 22, 2024
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chair gensler has blown past the s.e.c.andate and forced investors and companies to operate in the dark, thus risking the united states standing as a world leader in digital innovation. the f.i.t. for the 21st century act will allow us to reclaim our place as a world leader in innovation and provides clear rules of the road for the crypto currencies. i urge members to join me in voting yes. the chair: the gentleman from north carolina reserves. the gentlelady from california is recognized. ms. waters: continue to reserve my time. the chair: the gentlelady reserves. mr. mchenry: may i inquire how much time is remaining? the chair: seven minutes remaining. the gentlelady from california has four minutes remaining. mr. mchenry: i now recognize the gentleman from oklahoma, a leader on the agriculture committee, former chair of the agriculture committee, and great leader on the financial services committee, and also chair of the science committee, before i forget. i'll yield you one minute, frank. >> thank you, mr. chairman. the
chair gensler has blown past the s.e.c.andate and forced investors and companies to operate in the dark, thus risking the united states standing as a world leader in digital innovation. the f.i.t. for the 21st century act will allow us to reclaim our place as a world leader in innovation and provides clear rules of the road for the crypto currencies. i urge members to join me in voting yes. the chair: the gentleman from north carolina reserves. the gentlelady from california is recognized. ms....
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May 24, 2024
05/24
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and and still gary gensler of the sec does not like it.mmends that the house not move forward with this. in fact, he has said there's just so much fraud and abuse when -- and bankruptcies. well, welcome to the financial world. there's a lot of that everywhere, is there not? >> there is, and the best response to that is to create a clear regulatory the framework at the federal level to oversee it, and that's what the house has taken an important step to advance. senator booker made a really important statement when he voted in favor of overturning the sab 121, you know, staff accounting bulletin from the sec. he said, you know, i'm trying to send a signal because i think it's important for us to vote on crypto issues. so there's been a lot of speculation about whether the9 politics -- where the politics of crypto are, and now with the market structure bill, the overwhelming democratic support along with republican senator is really gratifying. liz: well, maybe people should have listened a year or two ago to senators lieu police and gillibr
and and still gary gensler of the sec does not like it.mmends that the house not move forward with this. in fact, he has said there's just so much fraud and abuse when -- and bankruptcies. well, welcome to the financial world. there's a lot of that everywhere, is there not? >> there is, and the best response to that is to create a clear regulatory the framework at the federal level to oversee it, and that's what the house has taken an important step to advance. senator booker made a...
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May 16, 2024
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but apparently chairman gensler would rather politicize accounting standards to achieve policy goals in the banking industry, an industry i'd like to remind him he does not regulate. rather than conduct a transparent policy-making process. maybe it's because chairman gensler knows that putting customer assets on the balance sheet is bad policy that would garner enough support to finalize a rule or rather would not garner enough support to finalize a rule. maybe it's because he's committed to an ill-informed and unworkable fight against the digital asset industry at any cost. unfortunately, sab 121 does nothing to protect consumers, nothing to protect consumers. it hurts them. i hope that all of my colleagues will recognize this and join me in voting in support of house joint resolution 109. mr. president, i yield the floor. the presiding officer: under the previous order, the joint resolution is considered read a third time. the question occurs on passage of the joint resolution. is there a sufficient second? there appears to be. the clerk will call the roll. vote: the clerk: ms. bal
but apparently chairman gensler would rather politicize accounting standards to achieve policy goals in the banking industry, an industry i'd like to remind him he does not regulate. rather than conduct a transparent policy-making process. maybe it's because chairman gensler knows that putting customer assets on the balance sheet is bad policy that would garner enough support to finalize a rule or rather would not garner enough support to finalize a rule. maybe it's because he's committed to an...
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May 8, 2024
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and its chairman gary begins letter have -- gary begins letter have repeat -- gary gensler overstepped their boundaries. it was bypassed established procedures and it shows. this rule will limit banks' ability to offer digital assets as part of their custodial services and makes it more challenging to safely engage in digital assets under the advisement 6 local banks who is able to accurately inform them of investments. crypto is used by millions of americans, hundreds of thousands of those in my district. unfortunately today they've been referred to as criminals, as drug dealers, and stay offense to that. we should be giving investors opportunities to take part in crypto currencies and not putting up artificial barriers and urge my colleagues to support this resolution and repeal the regulation and i yield my time. the speaker pro tempore: the gentleman yields back. the gentleman from north carolina reserves. the gentlelady from california is recognized. ms. waters: republicans have echoed calls from the crypto industry saying that legislation is needed to provide clarification on how
and its chairman gary begins letter have -- gary begins letter have repeat -- gary gensler overstepped their boundaries. it was bypassed established procedures and it shows. this rule will limit banks' ability to offer digital assets as part of their custodial services and makes it more challenging to safely engage in digital assets under the advisement 6 local banks who is able to accurately inform them of investments. crypto is used by millions of americans, hundreds of thousands of those in...
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May 21, 2024
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. >> so, you're speculating that a phone call was made from the white house to gary gensler's office,know, has been relatively opposed to these instruments, in fact, he was oppose to the bitcoin etf, until a court told him otherwise. you think he's going to do it, quote/unquote, voluntarily, or pseudo voluntarily? >> i am sensing a widespread shift amongst democrats that don't want to let crypto be a big election issue, right? the crypto super pacs have raised over $150 million, and they have targeted sherrod brown and jon tester, elections that matter dearly to democrats in swing states, in vulnerable senate seats. crypto should be bipartisan. and quite frankly, for our industry to do well, it needs to be bipartisan. and it has been really elizabeth warren and a small group of people that has held the democrats hostage on this. what the senate broadly said, chuck schumer being the senate leader who voted to overturn against elizabeth was, enough, enough. like, this is becoming dumb. and so i'm sensing a real shift. >> you talk about -- you talk about the industry doing this, as they'
. >> so, you're speculating that a phone call was made from the white house to gary gensler's office,know, has been relatively opposed to these instruments, in fact, he was oppose to the bitcoin etf, until a court told him otherwise. you think he's going to do it, quote/unquote, voluntarily, or pseudo voluntarily? >> i am sensing a widespread shift amongst democrats that don't want to let crypto be a big election issue, right? the crypto super pacs have raised over $150 million, and...
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May 29, 2024
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and one other note, gensler was right. he never changed his tune. with other regulators. he won almost every case, and i respect him for that because he was consistent. may not if have agreed with him, and i went to washington to his hearings. that bay can take -- guy can take bullets being shot at him, and he doesn't change his tune. stuart: got it. respectability -- >> i respect him. stuart: all right. thank you, kevin. judge herren chan just finished giving -- merchan just finished giving instructions to the jury in trump's criminal trial. the jury has been dismissed to begin deliberations. eric shawn outside the courtroom. i understand the judge's instructions to the jury were long and somewhat confusing. does that mean it could take the jury a longer time to reach a verdict? >> reporter: well, hi, stu. you know, it depends upon how they go through all the evidence and a tremendous amount of evidence here in this case. if as you said, the secure instructions over, the jury -- the jury instructions over, the jury getting the case, weighing the fa
and one other note, gensler was right. he never changed his tune. with other regulators. he won almost every case, and i respect him for that because he was consistent. may not if have agreed with him, and i went to washington to his hearings. that bay can take -- guy can take bullets being shot at him, and he doesn't change his tune. stuart: got it. respectability -- >> i respect him. stuart: all right. thank you, kevin. judge herren chan just finished giving -- merchan just finished...
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May 7, 2024
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. >> usually griffen goes off on gensler and during this conference it was on lina khan. >> we've hadgressive ftc in modern history and i really don't understand their agenda american businesses consolidating under long-standing principles of undue concentration, is good in terms of the rationalization and efficiency of our economy. the ftc's adamant anti-merger stance is really reducing the efficiency of capital formation in the united states we don't know how big that number is, if that's a number in the hundreds of billions, trillions of dollars like we don't know where this is going to land, but it's a big hit. >> highlighting the economic impact here of the blocking of the mergers and then he went off as well on the whole banning of the noncompetes and how that -- the ability for firms like his to be able to give away trade secrets just as ludicrous and reducing competitiveness of u.s. firms. especially financial firms. >> believe me, as you might imagine, given i live in the m&a world to a certain extent, i hear about it all the time and there's no doubt that regulatory continue
. >> usually griffen goes off on gensler and during this conference it was on lina khan. >> we've hadgressive ftc in modern history and i really don't understand their agenda american businesses consolidating under long-standing principles of undue concentration, is good in terms of the rationalization and efficiency of our economy. the ftc's adamant anti-merger stance is really reducing the efficiency of capital formation in the united states we don't know how big that number is,...
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May 23, 2024
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first ever major crypto bill has pass in the house of representative despite the opposition from gary genslerick mchenry. he is the chairman of the committee. let's talk about the bill. the big deal is this would finally settle who would be the regulator over cryptocurrency. a lot of things in the bill as wealth, but that is kicking up the dust and the democratic opposition you did get a lot of democrats to vote for the bill, but on the opposite side, you have president biden issuing a policy statement saying they are not in favor of this, not necessarily going to veto it, but the vice chairman is not up to snuff and not ready to do all of the authoritative work it would take where do things stand right now? what happened? >> this should serve as a wake-up call we had two-thirds of members vote in favor of clarity for crypto it creates a framework for the ftc getting a proper role. rather than the regulatory actions they have taken. congress settles the dispute it settles what is a digital asset and gives a framework for what is trading and purchase of the assets i think it is an important th
first ever major crypto bill has pass in the house of representative despite the opposition from gary genslerick mchenry. he is the chairman of the committee. let's talk about the bill. the big deal is this would finally settle who would be the regulator over cryptocurrency. a lot of things in the bill as wealth, but that is kicking up the dust and the democratic opposition you did get a lot of democrats to vote for the bill, but on the opposite side, you have president biden issuing a policy...
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May 24, 2024
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. >> talk about those questions, but as you know, gary gensler and the s.e.c.g and screaming to allow the bitcoin etf. and only did so because it judged effectively said you have to this is different. so what is different this time >> what is different this time is there was a settled issue of whether the underlier, bitcoin, here ethereum, was a security or not, offer transactions where securities transactions. the s.e.c. has not definitively said, so up until now, they still haven't definitively said that underlying transactions in ethereum are not securities transactions. >> is part of this because of what congress just did this week, to pass this first crypto bill and basically say it is going to be the cftc that is overseeing all of this is this putting another chip on the table saying, wait a second, we want to claim our legal framework for this >> my view, and my view for a long time in this program, is that progress, development, whatever you want to call it in this space, was always going to be inincremental what did they do this week in congress or the
. >> talk about those questions, but as you know, gary gensler and the s.e.c.g and screaming to allow the bitcoin etf. and only did so because it judged effectively said you have to this is different. so what is different this time >> what is different this time is there was a settled issue of whether the underlier, bitcoin, here ethereum, was a security or not, offer transactions where securities transactions. the s.e.c. has not definitively said, so up until now, they still...
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May 14, 2024
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. >> is this different -- we were talking recently on our air with gary gensler.est holders of the donald trump truth social trust -- i didn't buy it knowing that, i bought it when it was a spac, and they decided to merge with that company. at that point, the spacs, which we actually had in the funds that you read thatohio sentinel piece about, were at a very attractive discount. they were t-bills in a box. then they decided to buy this donald trump truth social and it went to the moon. and i, again, didn't want any part of it, because it's a little bit at greater fool. if it's at 15, it goes to 16, but it was at 9 a minute ago. so i leike when you have this super normal gain in something tyke chips off the table. >> from a governance perspective and market integrity perspective, given that's part of what you're talking about in the context of black rock, what do you think should happen, we had jay clayton on early, and we were talking about market manipulation and the like. do you think there's something that should happen to the sort of memeification of the mark
. >> is this different -- we were talking recently on our air with gary gensler.est holders of the donald trump truth social trust -- i didn't buy it knowing that, i bought it when it was a spac, and they decided to merge with that company. at that point, the spacs, which we actually had in the funds that you read thatohio sentinel piece about, were at a very attractive discount. they were t-bills in a box. then they decided to buy this donald trump truth social and it went to the moon....
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May 29, 2024
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unfortunately, gensler is just new to that.come back to. additionally, the reforms under jay clayton were designed to ensure the recommendations were done in an open process, not a black box that activist investors could steer the advisory firms, but also base it on economics and return. and unfortunately, that has been done away with and we're in court with the s.e.c. on that issue now. >> i can remember when evelyn davis was the director's biggest issue and concern. >> famous newsletter. >> exactly. tom, thank you forouti yr me today. >> thank you very much. >>> "squawk box" will be right back. chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley power e*trade's easy to-use tools make complex trading less complicated. custom scans can help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley the future is not just going to happen. yo
unfortunately, gensler is just new to that.come back to. additionally, the reforms under jay clayton were designed to ensure the recommendations were done in an open process, not a black box that activist investors could steer the advisory firms, but also base it on economics and return. and unfortunately, that has been done away with and we're in court with the s.e.c. on that issue now. >> i can remember when evelyn davis was the director's biggest issue and concern. >> famous...
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May 28, 2024
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going through the same process they did when they looked at underb both chairman clayton and genslerame process. they had a setback in federal court that i think sped up their analysis and they determined that the cash markets and futures market seemed to be in a good correlation. i think that will enhance the assessment of either and put it on slightly a shorter time frame than we saw in the bitcoin process. >> i don't know if you saw former president trump making some comments at a rally recently, saying that he's going to -- you know, if you're in the crypto -- if you like crypto, i'm going to protect your crypto we're going to make crypto work for you. what did you think of that >> well, i'm glad to see president trump's innovation in the united states. we want the u.s. to be a leader in financial technology, just like we have in other forms of technology, particularly as we look at the future of the internet, web 3 and block chain. he also said that he was not supportive of a u.s. central bank digital currency, which i think is a good position i prefer the private sector leading
going through the same process they did when they looked at underb both chairman clayton and genslerame process. they had a setback in federal court that i think sped up their analysis and they determined that the cash markets and futures market seemed to be in a good correlation. i think that will enhance the assessment of either and put it on slightly a shorter time frame than we saw in the bitcoin process. >> i don't know if you saw former president trump making some comments at a...