time home buyers. we'll talk about that coming up. but we want to get on to this market here. i want to bring bob. you look at today, in the face of everything we've seen in the last couple of week, a pretty weak day overall. >> this looks like one of those days eight or nine trading sessions ago. remember when a lot of traders believed we hat overbought conditions, there was a little bit of good news, a little bit of bad news every day. and traders attempted, remember that five or six days in a row, they attempted to break the market. we hit highs and then they tried to bring them down every day. and it didn't work. the shorts got killed. they couldn't drop the market much. this looks lying one thes days where they'll try to drop the market in the middle of the day because it's overbought. >> unless larry gets a hold of them first. >> so take a look the at a couple of news items here. commodity prices remain a very

tough situation. midland a lot of people were scratching their heads because they got hurt very badly. there was weaker demand. and apparently they made a wrong hedge hadding bet probably on corn. the reason i say this is strange is bunge a competitor had more positive xhen taker, but their earnings were much weaker than traders had anticipated. >> we're starting to see a little recovery now in commodity prices. so that's almost looking backwards. what about as we look forward? >> so one thing we look at, the ethanol. corn prices still higher than they anticipated. ethanol lower. we'll see if that turns around a little bit here. but theoretically, they should have benefited from the increase in commodity prices already and it didn't seem to have done that for them. so it's a little bit of a mystery. and if you look at the building material companies, too, still really tough.

you look at vulcan, they should be doing a lot better on anticipated improvement in demand on the stimulus package. after all, this is crushed stone. >> up 1 pft 6%. >> that's because they haven't been a big mover here recently. they haven't seen a big part of the market. if you look at the airlines, and the load factors were a lot better than anticipated. the important thing is the load factors is the percentage of available seats that are filled. they were higher than anticipated. >> ual up 15%. >> here's what happened with the load factor. you can get a higher load factor if you reduce the capacity, the amount of planes that are flying. also if you increase the demand. for example, you drop ticket prices. and recently we've seen that. they may be a beneficiary of that, although very common pi here. the news flow has been pretty tough on the airlines. >> you look at the market cap,

15%. along with some of the car companies. okay. bob, thank you so much. layer rirk i'll send it back over to you. >> so are we out of the woods when it comes to the housing sector and what does it mean for the economy and the stock market? let's bring in cameron finley. and sherry olson. we also have alan valdez. pretty good penning home sales, alan, and i want to ask you at the very minimum, the whom housing sector has bottomed. don't you think that's a very optimistic sign? >> no question with b. it. the main problem that we got into this mess was the housing industry and you can see it's bottoming now. you can see a lot more confidence out there. i see it in my area. more people actually stepping up to buy houses. they're really taking an interest. and that's a good sign. we immediate that had sign.

you saw construction spending yesterday. great sign. >> from your angle, what do you see here lending tree.com? what kind of mortgage demand, what kind of refi demand, howing demand? >> i think it's seasonal. between january and june of course you're going to see an improvement. between july and december, you're going to see those numbers come off. fourth quarter we're expecting into the significant decline, but certainly a decline. >> but it's been slow for five or six months. are you saying it's going to have a double dip? >> not a double dip, but certainly it will dip up a peak. if you look seasonally back through the number, every time you get through the june area, you've obviously reached the peak. then you bring it down in december. you can look at it at a nonseasonally adjusted basis and it make as big difference. so be careful when you're looking at the numbers. you've got to be comparing it on

a seasonally adjusted basis, not a nonseasonally adjusted basis. >> although when you look at the numbers, just to get it to cameron's point there, month over month, pending help sales are up 3.6%. year over year, it's want 9.2%. he's saying in the fall traditionally home sales start it to slump a little bit. people want to move in the spring and summer, me that sounds leak a buying opportunity. what's the best way if you have any money right now, what's the best way to make money in real estate? >> well, i think the two things that alan and cameron i think will agree has everyone excited is we have several months worth of statistics and we have statistics in a lot of different areas. the home prices according to case shiller, pending home sales run, so that gives us some reason to celebrate. it also gives the administration an opportunity to really fine tune and identify the segments that are still having problems.

we can kind of carve those out based on geographic locations, property type, and also price. we know the jumbo homes are still suffering. so clearly those areas that are still suffering would be the place where the opportunities are. so investors would be wise to look to the geographic areas that are still having problems, the types of properties that are still having problem, and the price ranges where there are still issues. >> so why i be afraid of jumping in to a place? i smell opportunity. why wouldn't i be afraid? it sounds like you're talking about florida, second home market, high end. >> exactly. there's a guy who i think is a lot smarter than all of us, warren butch at the time is the one who said that smart people are bullish when everyone else is afraid. in other words, the time to be greedy is when everyone else is fearful. so if you want to follow his advice, not mine, now would be the time. >> sounds like melissa wants to buy a house. i think this is the right time.

i'm looking at the charts. home builders are up 75%. i know they crashed very badly before this. are there bargains in home builders? >> overall, and this is a point people are forgetting, $4.2 trillion put back in to the market in paper wealth and the ebb and flow of the market on any given day is confidence. so you see a lot of confidence and a lot of people are starting to get back into the market. >> what about the side bars? if you think there's a little bit of better home building going on, a little bit, maybe some replacement, if you think there's better car sales and production going on, what about some of the commodity stocks, are the infrastructure stocks? does that stuff all sort of go together, early recovery stocks? >> yes, and i like the commodity stocks. i think you buy stocks people need, not what they want. we saw spending do a little dance.

look at groups that people need, not that they want. >> let's leave it there. >> it's the idea of just basic choice is what you're see. as we bhmove forward, there wil be less choice. >> why? >> just a function of the number of homes that are available and the type of homes that are available. consumers will have to actually bring pack down their expectations of the type of home they'll want to move into. >> that doesn't make any sense to me. there are sellers galore everywhere. >> sellers ga lore in the form of you're going to have i think borrowers having to look at the facts that rates are still at 5.44, we'd like to see them come back down another 20 basis points. we don't see that as happening. we need that to happen so that there's an additional refi incentive in there for borrowers to get in there.

>> you're forgetting about affordability. i think choice? what do you mean choice? of course we have choice. this is america. america is all about choice. except for health care. >> on that note respect thanks for joining us. we appreciate it. not yet, larry. >> i'm sorry. >> lloyd blankrfein reportedly telling his employees to avoid big ticket purchases. so we're asking the question, is being rich and making money suddenly out of favor? today's call of the wild. >> and right now top u.s. banking regulators continuing their senate hearing. this amid reports treasury secretary geithner blasted them for not embracing the regulatory reform proposal. we'll go to capitol hill for a live report on right here on "the call."

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take a look at crude oil just turning positive. oil up nearly 13%. traders are setting up for the inventory data tomorrow. but i'm betting that it just turned positive there. 71.62 the last trade. >> i knew i could count on you, larry. >> we're gaining on it, ladies. keep the faith. pull backs are healthy. >> the senate banking commit if i holding a hearing. among the key witnesses, sheila bair. hampton is on capitol hill with the latest.

>> reporter: top a regulators asked today by senators about the reported geithner rant testifing before the senate banking committee. one of the persons in the room at that time said the session was, quote, a candid conversation and a lot of what has been reported was true, but nobody showed up with transcrip transcripts. at this point, specifically senator richard shelby, what he wanted to know as far as their criticism of the obama administration regulatory reform plan, would whatever the treasury secretary said impact their independence as regulators. >> does the testimony that you've been -- you've given here today, that you provided, is that your own views such as it was, not in any way influenced by secretary geithner's tirade the other day? >> we do not clear our statements through the treasury department and we take that independent function very, very seriously. >> reporter: and they tip to fire away at the obama regular

reform plan. the target today, the call for a single national bank regulator. >> we think having multiple voices can actually strengthen regulation and guard against regulatory capture. if and you have single monopoly, it's not going to be another one out there saying we'll have a i here standard, we'll be stronger or we're going to question that. so i think you tlooz with a single regulator. >> reporter: now, publicly treasury secretary geithner has said a lot of the criticism of the regulators is basically them trying to protect their turf, but it's also obvious that their criticism of the core principles of policy plan, frankly, is resonating with lawmakers here on capitol hill. >> hampton, thanks so much. we want to talk more here about geithner's reported rant over regulation reform. joining us is financial correspondent for politico. and rick santelli. mr. geithner is said to have used obscenities, he's said to

have said enough is enough and he's really apparently raising quite a ruckus here. do you think that this is him getting completely out of control or is this a planned and calculated move? >> i talked to treasury officials about this this morning and they said, no, this wasn't out of control, this was a planned and tactical sort of outburst. they say tirade is maybe too strong of a word, but in very stern words from the treasury secretary at this meeting on friday and the idea was to rattle the cages and say we've got to let go of this washington turf war stuff and we've got to move ahead with this regulatory refrm agenda by the end of the year. clearly geithner is extremely frustrated with this, the pace of this and some of the resistance that he's seeing from these regulatory agencies. >> rattling the cages is an interesting thing. but, rick, these are independent agencies. the fed, the fdic, they are

independent agencies. the treasury is the white house's financial political arm. don't these agencies have their own relationships with the oversight committees in congress? >> it goes to show you that there's a lot of hammers being used and there's a lot of speed being used and i think that this is a great little litmus test for a lot of issues going on between markets and washington. just consider that some of the regulatory -- i read these working sheets. it's kind of complicated. but it's pretty easy at the same time. there are products throughout that cause a lot of the crisis. they need shall kind of management attached to them even if it's just more capital set aside. but they can't agree to it. then they put speed, complexity and politics into this and how going to do something a thousand times bigger when something so obvious gets so muddled up. that's the way traders are talking about it about sgrp a lot of coops in the kitchen. >> exactly.

>> when you look at what the treasury secretary did, do you think it was tactically smart, is he going make any head way? >> we'll see if the rattling the cages is effective. what will happen next is that the regulators will say we'll stop squabbling about who gets control of the consumer protection piece of this, we'll stop -- >> come on. you know they won't. >> i'm saying if it work, that's what we'll see. >> but i doubt if any of these people will had be cowed by a few four letter words. you're too smart for that, too. >> larry, as you know -- >> the fed doesn't want to lose its consumer protection. the f dchlt ichltfdic doesn't wo run the entire show. i think they all want the resolution authority to take out now financial firms in bankruptcy, but you've got turf wars here that geithner has very limited power. this will be congressional votes and mandates.

he's acting in a very high handed way, but i'm not sure he's playing with -- he's got very little currency, doesn't he? >> this is the power of persuasion. as you know in washington, the turf wars are the most hard-fought battles sometimes and what treasury secretary geithner has right now is the pourer of power of the f bomb and this 00's what he dropped on friday. >> the danger is you use the f about him and if it doesn't work, you look pretty weak forgetting all riled up like that. >> and then you have to escalate and up the ladder. >> at the end of the day, wouldn't it be better if mr. geithner was throwing the tirade saying, listen, we need to make these products more -- the key issues for them to move on, it seems as though there's nothing really to grab on to. the working papers are confusing and what's going on is more of a turf war than an end result. they're not really concerned

about what we're all about in the marketplace. it's more about the style of how we get to thefusing regulation. >> you're talking about the fmt bo f bomb if i heard that correctly. also, you have over the weekend geithner and summers leaking out this middle class tax hike business. those guys give the press guy has to bring out a huge pooper-scooper in the press room to clean up after that them. what is going on with this crap? i think they're just veering off course. they're having a real bad summer, that's what i think. >> they really need a vacation over there. >> on that note, we'll take a little break here a and vacation ourselves. thanks stop. we appreciate it. cash for clunkers program is a brilliant package, but others believe it's setting a bad precedent. >> should we type this bailout or expand it from autos to other struggling industries?

>> i have some ideas. >> let us give everybody a couple three, four thousand dollars. the debate is straight ahead only on "the call." whatever consumer goods you want, i'm from the government and i'm going to hfr-

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we want to show you pepsi, making two acquisitions. the world's second biggest drink maker buying pepsi bottling and also pepsi americas for 28.50 a share. you can take a look at how all three are trading. up across the board. pretty significantly better than 8% on the first two, a% 5% on pepsi pepsico. senate democrats are struggling it to win over enough republicans to pass a $2 billion extension of the cash for clunkers program. critics are calling it crack pot economics, transferring money from one taxpayer's pocket to another. and by the way, why not just give a $4500 subsidy for everything? let's ask leslie sanchez, republican strategist, sand rare are a, thanks for joining us. how about cash for cell phones? how about cash for coats? back to school shopping. cash for picture tube tvs. that would be environmental.

get rid of the old tv thaz are wasting energy. everybody can get a huge plasma. i'm not even really kidding. what do you think? >> sure, why stop there. anytime you allow the government to decide winners and loser, you're clearly going to have a disadvantaged group here. but more importantly, it's not ensend advising or growing the government. again, you're getting the government involved in poor execution, poor management of these programs and ultimately costing taxpayer as lot more money. >> i totally disagree. i mean, we're talking about a wildly successful program. we are talking about this is stimulating the economy, which is exactly what the stimulus was designed to do. we're talking about putting people to work. we're talking about -- >> how many people are we putting to work is this. >> we've got dealerships which are the backbone of the community. they are employing some of our local blue collar workers. they are putting people back to work this order to manage the ram in and of itself and to manage all of the consumers that are coming in.

they have to beef up on staff. >> we all agree on getting employees back to work. but i think you've got to look at the numbers. a car buying service did the best analysis and said basically you're seeing a marginal increase of about 22,000 cars. you divide that out, it's costing upwards of $45,000 per car that the government's pay to go in-cent advise this thing. national organization is concerned that no dime has come out to help these auto dealers who are floating the cash. >> that's totally unfair. anytime you're talking about a bram which is just a fraction of what the stimulus package was designed to do, they've actually gotten this after the stimulus package was enacted, which was four months ago, maybe five months at the most.

we're talking about now getting real dollars in the hands of dealerships who have taken a beating. >> that's part of the concern is that the dollars that were supposed to be paid in ten day, they're not paid. >> it doesn't happen immediately. it's not an immediate deposit. we're talking about the program started a week and a half ago. >> the reality is when you talk to the dealers, they're very concerned about cash flow, keeping those -- especially the minority dealerships open. all these dealerships are suffering right now and it's just an additional stress on them. yes, they like to see the increase in sales. yes, it is having some impact, but overall in terms of the government's role to be doing this for this industry over any other industry and again another failed -- >> it's not -- >> i just want to ask sarah where this stops. that's really where made wlis a began. >> maybe it shouldn't. >> perhaps it shouldn't.

in other words, we are coming out of a recession and you've got a lot of areas that are ailing. and if you're going to give $4500 for car purchases to help dealers, home, let's go there, retailer, let's go there. accountants, lawyers, financial people, or maybe this is the -- >> it's better than the stimulus that we're not spending. >> maybe that the approach will be to have government hand out good gi, we'll borrow if from the private sector, take the savings out, and just give it away to every single area. is that where we're going? because that's the logic and that's why the "wall street journal" called this crack pot economics. it is the antithesis to free market. >> there is a comprehensive approach that the economic stimulus package was designed to certainly restore. and so we're talking about -- >> where does it stop? >> where does it stop? >> where does it stop? we have 305 million people in

this country. why doesn't the u.s. government just give them each 2 1 $00,000. let's just start there. >> that's not what the package was designed to do. >> that's what the logic of the package is. tell me where you stop. >> that's not what congress intended. congress was looking at a number of different industries, a number of different sectors in order to look at the entire economy, to resfror a sxtore fr comprehensive standpoint. there are numerous programs designed to restore the economy. >> lessly, let me ask you the same thing. there's 305 million people in this country. why not just give them all $100,000? >> maybe just the people that pay taxes, larry. >> no, no, no. that's very selfish, that's horrible of you to limit it to taxpayers. i think we should be grand. i think we should be in the spirit of helping everyone. just give us all the money.

>> i think part of it the stimulus is yet to start. there's a lot of debate on whether or not it's having an impact. most people on the conservative side would argue it didn't. and another failed boondoggle. it is helping some, but at what expense and what cost to the average taxpayer. >> we have to go. thanks for joining us. great debate. and we have a programming thoet. mark fields, ford motor president of the americas, will be on live on the closing bell oig at 4:00 p.m. right here on cnbc. >> i could have a new coat. i'd trade in mine. >> trade in your picture tube. >> and we're all going to pay for it. >> in that case, i want it on get a really expensive coat. all right. the backlash appears to be stinging none other than goldman sachs. ceo reportedly telling its workers to curtail flsh shall i spending. is it out 6 favor to be rich and

to make money? certainly seems like it these days. it's our call of the wild today. >> first up, the road ahead for stocks help are we in a new bull market and how can you profit from it? two money managers join us with their answers to those questions only here on "the call." (announcer) this is nine generations of the world's most revered luxury sedan. this is a history of over 50,000 crash-tested cars... this is the world record for longevity and endurance.

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welcome back to "the call." we want to get you caught up on the markets. we are in positive territory after having been down

throughout most of the session. we've crossed in and out of green zone. we have larry to thank for that. he's been talk you go about ti about the bull market. nasdaq down about three points or so. so the big question being are we in a new bull market? we've certainly had a lot of positive economic news as of late, including even this morning. here's what jim cramer lad krac say last night about. >> this market demands and commands your respect. and tonight, i am giving it the respect it deserves. you don't want to try to get in front of the bull because you will be chased down and gored. >> wow. got to be careful of that. we want to talk about this bull market, whether it really is here to stay. we have a bull that's going to

be joining us shortly, but while we wait for him, we'll get to air bear. founder of barber financial group. dean, i think it's only fitting we go straight to you after hearing larry talk earlier in the show and after hearing mr. cramer talk about getting gored like in the bull race there. what do you think? we look at this market, we've done so well over the last several months. i guess the big question is really how much more room is there to go even if if you do build in an economic recovery? >> i believe it's important to take things in perspective. it's easy to get caught in the short term view of things. remember that we're still significantly off the highs of october of 2007 and we can look back over the last ten years and we can talk about all the bulls that have been out there on wall street and we're still almost 30% below where we were ten years ago. to me what's happened is we're in the middle of a cyclical bull market, which is a bull market inside of a long time secular

bear market. let's make no mistake about it, this is a bull run. we said earlier this year that we thought that we could reach the low 9000 points in the dow jones industrial average by mid to late summer. we think this rally has legs for another four to six weeks. >> for the next four to seek weeks. because if you're trying to get in and make money in the short term, that's encouraging news. but i'm hearing from a lot of folks they're questioning whether we've already seen that bull market come and go and maybe in the next four to six weeks there will an side ways move. >> it could beside ways. what i was going to say is there's maybe another 5% to 10% move on the up side in our opinion. very very outside, it's 20%. because i think if we look at over the next 12 to 18 month, the down side potentially between 30% and 60% here from our view and working with mostly retired clients, it doesn't warrant taking risk in the short

term look at what we see in the longer term spectrum. >> so jason, the only disagreement i have with dean there is you're going to miss another 20%. i made this call last week and i wrote it up in a column. basically this is business led, it's profits led from all corners of the economy, it is signaling the onset of economic recovery. businesses are the key. that's what a lot of the consumer ob saysers and demand siders miss. now, the bond market spreads have come in so far, i'm looking at pre-lehman, which was last august, which gets you to the 11 to 1200 range on the s&p 500. what's your thoughts? >> i think you're basically in the right general ballpark. we've basically seen about half of the rebound from the lows that we saw in march. we've been calling for this since march. we think this is not just a cyclical bull market, it's also secular. we've been through the worst ten year period that we've seen in about 50 years and those sort of

ten year periods tend to be followed by multibull markets. it's independent of what the economic circumstances are today because every single one of those situations started with horrible economic circumstances. it's a rebuilding and growing across that wall of worry that drives the stocks. >> first of all, i hope you're right. i really do. but how do you know we're not stuck in some 1970s scenario all over again? >> look, we have problems that we have to deal with. i don't think anybody denies that. but the reality is the economic scenario that we saw in the third and fourth quarter of this past year was horrendous. it was basically a situation where things just weren't moving. that's not reality and that's what the market was starting to price in. we're just starting to give get back to normal levels and that's rebound to normal levels will drive this market forward for a little while and then we'll have to deal with more problems. >> dean, let me go back to you. i'm not making a long, long,

long term call. i'm saying number one let's label this a real bull market. because i believe it started in march and jason has been on top of that. but, number two, a bull can last, what, 12 to 18 months. ordinary run-of-the-mill garden variety bull. and i don't get back to the old highs. i can't get there. there are too many policy threats going on in washington. there are too many changes about taxing, government control. but insofar as this bull, which you agreed to, i guess, running it out until let's say the next spring, something of that nature, do you stay with the recovery play sfls that's the key point for investors. industrials, commodity, the energy, the consumer cyclicals and the tech, or do you rush away from that and go to the defensive lay? that the single biggest issue now for investors. >> i think you have to do a little bit of both. as we see things stall out, the biggest concern that we have is the deleveraging still has not taken place especially in the private sector. we're looking at total debt as a

percentage of gdp in excess of 350% and that's one major difference than we had in the last major bear market and coming a bull out of that. >> so does that mean you'd buy business stocks and you stay away from retailers and consumer cyclicals? >> absolutely. let's look at technology, let's look at energy, let's look at the emerging markets. all in the short term, that's where you've got the biggest potential in the longer term, though, you'll need to be away from knows and back more to the defense defensive staples on that side of equities. >> i just want to know, jason, what your pick abouts are. >> i think larry and i are basically on the same page economically speaking. what i have to throw out as a note of caution on these cyclicals is you need to stay ultimately high quality. reality is we'll be moving in to a higher interest rate environment and a higher cost of doing business environment. the marginal players will be forced out of this market.

so when -- >> how about banks? find a bank you hate and invest in it. i think this is ideal for banks and that's where the leadership will remain. steve is here. even a banker can make money. we got to get out. i'm sorry. >> thanks so much. would he appreciate it. >> speaking of banks answer making money, which is our theme here on cnbc, up next, did you see this? this is what you get after posting record quarterly profits. >> reportedly telling his employees at goldman sachs to cut down on high profile spending. so is being rich and making money now out of favor? well, that debate straight ahead only on "the call." i hope it's not out of favor. mr. evans? this is janice from onstar. i have received an automatic signal

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reporting a 13% jump in its second quarter earnings. the company also raising its profit guidance citing opt mechl

for the rest of the year. melissa, i'm looking forward to this next one. good thing we don't work for goldman. >> i'd have a lot more money, but regardless, take a look at the front page of the new york "post." i saw a lot of people on the corner looking at it. silence is goldman. talking about a story where the ceo left a voice mail for everyone saying don't show off, keep it on the down low. really what it says to us is it seems like being rich, making money, out of favor right now. is that the case? let's bring in jonathan capel, yale associate professor of politics and management, joe wisen thal. let me start with you. if you look at all of the negative press that goldman sachs has been getting lately, making record profits, also a lot of the press is good b. money being funneled to goldman

through aig, government money, that's the reason they're making record profits, forget the fact they already paid back the money. is it out of style to have money right now? >> no, i don't think so. and i think the idea that the message here is don't be rich and that people at goldman sachs shouldn't make money, that's a little bit silly. in my view, what this is good risk management. as the leader of goldman sachs, he says, look, this is not the time to be the dufus that spending $80,000 on a sgar badge can or buy as new corporate jet. the government is still got all kinds of hooks in to us and other financial institutions. congress is considering regulatory reform that could change our business. now is the time to lay low and to be a little bit more thoughtful about what we're doing. >> but does that say good or pad things about our society and what does it mean if we're not proud about making money, what does that mean for american productivity going forward? >> i think it's clear goldman

sachs has been the most successful investment bank. they did get through the crisis with the fewest problems and now i think it's just a natural part of our society, maybe it's temp other or maybe it says something deeper long term that they're the ones that everyone wants to get beat up organization they're the ones that nobody likes because they didn't suffer like everybody else. and -- >> actually, joe, i think it's bigger than that. i think it's the new cultural phenomen phenomenon. i think it says that success is bad, it's about class warfare, it's about attacking people that can go through life and have successes. i think this had comes out of washington, joe. >> i don't know if it comes out of washington. i think that you know it's disinjen you us to say that the argument is success is bad. what it says is now is not the

time to be taking home extraordinary bonuses. 10% of americans are still unemployed. there is still a huge foreclosure problem. now is not the time. and quite frankly, it's smart business from a risk management point of view to keep the business profile low. >> the problem is they're dam oiged if they do, dam oiged if they don't. if they don't spend any of money money, then a few months from now, we'll get stories about how they got all these big bonuses, how they got bailed out by the tarp o.a.r.p. and they didn't h the new york economy by buying amount wants. so in the end, there's no way that they can win. >> that will never be the story. >> clearly it's going to be the story especially since there's so many stories about how the one justification for bonuses for big pay is that it will help the city, that it will help stimulate sales tax rev new. >> it didn't actually say now is not the time to bring home big bonuses, it says now is not the it time to flaunt your spending and to spend the big money on

something flashy. because the pr is so bad. they didn't say bonuses are bad. they said showing it off is bad. >> and i think if you were going criticize the statement, what i would criticize is for is if you interpret it the way you just did, i would criticize it if saying are you telling us that we're not spending money appropriately or are you saying just give the appearance of paying lip service to what the public cares about? if it's just an appearance thing that's slime my souslimy soundi me. >> do they need to be treated like children? we all have to have some sense of decor run and we all are aware of the economic situations of others. i find that hard to believe that they're so tact wls that this really needs to be said. >> well to do people help

charity, they do a lot of work in the schools here in new york city. i think this is just a class warfare culture. >> look at all the businesses that have gotten -- >> i have to go. jonathan, i got to get out. joe, thank you very much. >> thanks for on joining us. we appreciate it. the reality is that these bankers and the financial professionals in new york city are supporting the city. so money being spent is helping the overall economy. >> absolutely. and i want to add the school, too. the charter school movement which has been so great this new york comes right out of the wall street people. it's very essential. the charitable work is very essential. but there is -- this is a new political culture. anyway, got jump. full speed ahead for the only u.s. vehicle maker that didn't take federal aid. >> ford hoping to gain market share as it rolls out the all-new redesigned taurus. coming up only on "the call." ♪

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it was another tough quarter for toyota, posting its third quarter decline as revenues climbed hch-loss as revenue climbed from 38% from last year. the company also warning of a slow demand recovery. the stock right now trading down 81 crept cents on the day. jim lentz will be live tomorrow. mean time, ford is rolling out its all new designed taurus,

another new product as it tries to regain market share here. take a look at where ford is trading right now. up 1.7%. a gain of 14 cents. phil is live at a ford plant in chicago with more on this newly designed taurus. what can you tell us? >> reporter: well, they have nowhere to go but up. right now the taurus number 86 in terms of where it ranks among vehicle sales this year. way down the list. but they are starting off production on the new taurus here at the taurus assembly plant south side 6 chicago. take a look down the line. they officially kicking it off today. these will be rolling in to showrooms over the next couple of week. in terms of where the taurus, which was once the best selling vehicle ranked compared to other car, take a look at the top selling car this is year, the camry which replaced the taurus is at the top, ten then the corolla, civic, atity made, ford fusion, number five. so the taurus comes in with some advantages.

great brand new recognition. 87% of the consumers recognize the taurus. but 50% have a negative perception. they hope that changes. ford has a lot riding on the taurus and it riding some momentum. it take look at shares, at one point we were looking at a stock going to a buck a share before now it's up to $8.45, $8.50 a share. so nice return for the ford and in the sweet spot as they say and again the taurus very crucial if they will continue to do well in the car segment. hits showrooms in the next couple of weeks. >> number 86? i didn't realize it was that low on the totem pole. where can we see that number climb? >> reporter: they have high hopes that this could be a top ten selling vehicle three or four years down the road. it has the styling and performance, it could do very

well and it's priced to sell. >> thank you so much, we appreciate it. that will do it for today. we're out of time. thanks for watching. >> see you tonight on the kudlow report, 7:00 p.m.wa power lunch is up next. re/max agents have the experience to get the job done. nobody sells more real estate than re/max. where do you want to be? whento compliment theirflac benefits package aflac! it made a big splash with the employees yeaaaahhhh! find out more at aflac!... ...forbusiness.com (laughter)

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is flash trading about to become a flash in the pan? >> could be. >> we have breaking news on that. we welcome you to power lunch. good news on home sales. also, a flood of 52 week highs in the stock market today. starbucks, discovery communications, oshkosh, just to name a few. what do all these winners say about the strength of the summer rally? >> oil is up nearly 9% over the last month, but down around 50% over the last year.

so with 100 bucks barrel around the corner or lower than that? crude realities of black gold coming up. >> and goldman sachs ceo urging employees not to go on a spending spree. keep that big ticket purchase on on ice. we'll take you insulator on "power lunch." here's what else is on the menu. >> we'll have details on those rebounding housing number, plus the mixed income spending data, plus four inside tips about what to look for to see if jobs are returning to the economy. >> i'm on capitol hill. top senate regular rate tors continue to fire away at the obama financial reform plan despite a reported rant from the treasury secretary. >> i'm in los angeles, more media company earnings today, discovery communications reporting higher profits. and the comic book empire beating wall street expectations. i'll tell you house these two companies are