down 9, the nasdaq composite is down 46. we did find some winners. roper industries is on the plus size by almost 6%. pep ko holdings up almost 5%, and best buy, ty, up 4%. all right, sue, thank you very much. that will do it for "power lunch." "street signs" begins now. it's a bicoastal "street signs." really statistic davos of the west. heavy hitters in finance, health care, politics, they are here. mandy, welcome back. we missed you. you've come back to an unbelievable lineup. tony blair is coming on. the mayor of los angeles with his first public comments around the clippers. and general -- and scott miner

on the markets here. it's an amazing lineup. i only wish you were here to share it. >> i only wish i was there as well. great to see you again. all three indices have turn negative, giving back a triple-digit gain on the dow. it's off by 47 points for the nasdaq. the russell 2k is currently down over 8% from the record high it hit all the way back in march. do look at the ten-year yield. let's get straight up. john harwood has more. give it to us, john. >> mandy, the president formally

signaled the end of hopes for the peace deal that was struck between john kerry and his russian counterpart sergei lavrov by imposing these new sanctions. seven individuals, 17 entities, many of them connected to individuals who had previously been sanctioned. this is an attempt by the administration to gradually turn up the costs on russia without going to broad sectors of the russian economy or to vladimir putin himself, the administration concerned in the case of broad sectoral sanctions, that would be different to get european allies to agree on. it's announced -- not corporate sanctions within the next day or so, and so the question is going to be, as long as this tension and sort of on the knife's edge situation persists between russia and ukraine, what is going to change vladimir putin's behavior, knolls hag so far. the administration has to hope

that they'll dissuade vladimir putin. and seize territory there, as they did in crimea. >> need to keep a little powder dry. john harwoea john harwood, thank you. we'll have commentary from tony blair. he is going to be sitting down with brian, as he mentioned, live in just a bit. brian, what do you have on the plate right now? >> we're going to talk about these markets, mandy. there's a lot of stuff that goes on here, but what everybody is talking about is donald sterling and the clipper. we're joined by global cio of guggenheim. we get you to talk about the fed and the markets. here's the reality. you guys own the dodgers with magic johnson and other investors. obviously don sterling's got to

go. are you interested in buying the clippers? will you make a bid for the clippers? >> first off, i want to make sure i clear up a common misconception. guggenheim partners does not own the dodgers. it's owned by an investor group that we sponsor. >> that's led by gugen. >> that's led by a company called guggenheim baseball partnership. >> you're associated with the investment. i understand the point. >> and we have the privilege of being associated with irvin johnson. >> would that group by interested in -- >> since jo represent the group, i can't comment, but it's a privilege to be associated with irvin johns irvin -- earvin johnson. >> you're being coy on me here, i notice it's a touchy subject. let's get to something you're more comfortable about. how much is that, if at all

playing into your strategy at all? >> the incident in ukraine has got major implications for europe. now, do i think that the ukraine and what's going on there will derail europe's recovery? i don't think so, but having said that i'm betting on the russian invasion of the ukraine >> you're betting on a russian invasion. >> a military invasion. >> i expect that russia will move into the eye koran. >> what does that mean for our viewers at home, mom and pop that have stocks, bonds, does it matter? >> first off, it means we'll probably have some interruption of gas supplies to europe. that will probably mean that there will be some slowdown in the european economy, but it won't be enough to derail the expansion that's in place. but that, of course -- for the united states, any kind of risk-off trade in europe is

going to be positive for u.s. assets, in particular bonds. so i expect to see more capital flowing to the united states. >> into fixed income, into bonds. >> into fixed income, bonds. but i will say this the number one indicator i have for u.s. equities, which is the advanced/decline line, the market has never corrected with that line making a new high. we made a new high last week. so the bottom line is any sell offin u.s. equities would be relatively muted, i expect it would be a new highs before the end of the yew. >> new highs? because the nasdaq has been very weak. the tech sell-off is the story of stocks right now. are you selling technology stocks? >> no, but to be honest, we're already out of technology stocks. so i would think the technology stocks would represent a very good value if we were down maybe

another 10% from where we're setting right now. >> could you see that happening? >> i think so. i can't see us, you know, correcting in the technology sector. we've had such a phenomenal runoff, and it wouldn't violate the bull market that's been intact since 2009 the we got well ahead of ourselves, and i think technology can pull back. >> strong words, scott miner, so you think a tech correction about 10%, bonds should do well, and you do expect basically a full russian invasion or at least strong military presence in the ukraine. >> i do. >> with the potential natural gas disruption. >> exactly. >> scott, a real pleasure. >> good to see you. >> if the group that doesn't that you're not societied with that destined kind of own the dodgers decides to do something -- >> thank you very much. hey, mandy, strong words on technology from scott. by the way, he says hello. >> had ello back.

gday mate. >> brian, do your journalist duty over a couple of drinks. >> i can't what you're saying. your'sy accent has gotten so strong. >> and now i'm back here, and everyone's saying i'm freshly australian and all. i'm going to be pulling out my knife any time soon. >> i'm just giving you the business, you know. >> see you in a second. i know you have lots of things, and of course former prime minister of the uk tony blair is coming up on the show, so you must stick around for that. the fill pharmaceutical part is going wild. what is driving this boom? we're going to deal on the pfizer/astrazeneca news, and later on, back out to milken, the who's who in terms of rich and influential people. everybody from billionaires to baseball, all ahead when "street signs" returns.

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pfizer confirmed it is making another bid. meg tirrell is here with us. what do you think the advantages would be? >> this is a huge deal, potential the biggest ever, and it's being driven at least on the drug side by pfizer's

interest in cancer. astrazeneca has a huge pipeline specifically in an area harnessing the immune system. it doesn't have a present in immunooncology. >> i believe we've also got a guest who will be coming on this, who -- let's bring in damian conover. great to have you with us today. damian, i believe you are increasing your fair value estimate if this does go through, but you're not doing the same for pfizer. talk to us about that. >> right now we think there's a very strong likelihood the deal will go through. astrazeneca i think will probably take this bit close to 77, hence increased our fair value. pfizer on the other hand, i think a lot of the benefits are going to astrazeneca with this purchase price, so a lot of the

cost savings, tax potential. a lot of that is it getting gobbled up. >> pfizer has never been a frayed of a big deal, as obviously three megamergers, and we added up the value of those deals. it equated to more than pfizer's market cap. even though pfizer has achieved a lot of synergies, and surpassed its goals, they actually don't add value. what's your thought about that? >> yeah, again, i don't think there's a lot of value that will likely fall to pfizer, because the purchase price is so high. if they could get it done as a lower purchase price, i think more value could be created there. >> i would like to ask you about this tax redomiciling. it's a lot of motivation to get a favorable tax rate. do you think that would get the blessing of the uk government, they might think it might keep more jobs, or the job uss and

cost cuts will still go through regardless? >> i think the cost cutting goes through regardless. when you this by the uk government, they already have a natural champion, so i think they're okay letting astrazeneca go to pfizer, but i think it's going to definitely draw the attention of u.s. regulate ovrs. it's one thing when they do this tax strategies, but another thing when a giant company like pfizer does. >> do you worry at all about the patent expirations? some people say you have lipitor expired, sell el brek coming up, and on the astrazeneca side two huge drugs coming in. two huge companies with big expirations coming toe make sense for either side? >> i think the main thing that makes sense is the cost cutting. there is some synergy in the pipeline and some potential here to get better growth despite bringing together two entities with relatively slow growth

outlooks. >> is there any potential this might not get through, for whatever reason? >> i don't think it's 100% sure. i think the biggest hangup is whether or not pfizer can do the inversion on the tax rate and be able to get the advantage of the uk-based taxes. that's the biggest hangup i see. if that can go through, i think this deal goes through. >> what's to stop other companies from doing that. eventually you'll see a bunch of companies the redomiciling, and then they have the best of the both worlds that could be listed here. what's to stop other company from doing that? do you see more of that happening in the health care sector? >> i think more will happen. i don't see a lot stopping it now. a lot of it being driven by tax synergy, unless we see major tax reform, which i don't think is likely. >> do you see any other potential bidder on the horizon? obviously at 100 billion there aren't many who could afford it.

>> you know, i don't think so. i think it's hard for astrazeneca to find a white it's so large that it's hard to see another firm moving in and trying to make an acquisition bid. >> great commentary. thank you very much. and thanks, meg as well. pour and more sponsors have been pulling out of their relationship with the los angeles clippers basketball team, all in connection with the racist remarks allegedly made by the team's owners. so coming up next mayor garcetti will speak out about this story that's affecting his city. garcetti will join brian live from the milken global conference when "street signs" returns. ♪

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the market is trying to make up its mind today. the dow did start out in positive territory, turned red, but now cutting the losses across the board, even the nasdaq, just not so long ago, is down by 35 points, not great, still the underperformer, but we are cutting our losses as we progress towards the close. that's the markets. let's going to something way more exciting.

let's get back to brian sullivan in l.a. >> ms. drury, thank you very much. we are joined by mare yor garcetti. we are going to talk about the rebirth of los angeles. that's what we will talk about, but right now it's about donald sterling, and the clippers. i believe these will be the first on-air comments about the situation. what is the city of l.a. prepared to do? what is the city of l.a. able to do? >> let me first say, to the players that are the clippers, i want to tell them this city is behind them. they are welcome in this town and rooting for them. they've been lost in the mix of all of this. this is a fabulous team of great, bright stars. this city is 100% behind you. >> and a lot of people who work for the organization that are not on the court. >> that's right. secondly there's no place in my town for any racist company. we absolutely won't tolerate. the comments were despicable, and i hope the very strongest

sanctions are levied by the league if it's proven that is indeed donald sterling. >> i know you're not a sports guy, but do you have any indication, has the nba talked to you about what they are able to do, what power think might have? >> i talked to folks like kevin johnson, a fellow mayor, and saying that the rules aren't exactly crystal clear, but i hope they will do something to suspend him if indeed it's determined to be his comments. and longer it were in july when they meet, they'll along at what they can do to transition this ownership. it's a real mark on this city to see those sorts of comments, hear them, it doesn't represent the most diverse city, the most tolerant place on the globe, and there's no place in that. >> the ownership needs to change? >> i would love to see that. >> but nothing from the nba about that. they have not said, mayor -- >> i'll be speaking to the commissioner later today, and let him know where we are at as

a city, and we would -- >> so you will be speaking with adam silver later. >> absolutely. let's transition to why you're here sirchlts sure. >> i was born in gardenia, downtown los angeles was pretty rough. i went down there yesterday to see the development that's happening. literally going from abandoned hoelts to million dollar lofts. is it too fast, though? is there a risk? what's happening? >> i think it's the most exciting neighborhood turnaround in america. i used to be council member for hollywood. and downtown is going through the same renaissance, indicative of l.a.'s new energy. the highest rate of entrepreneurialism, and we speak every language, the best food, the best content is now downtown los angeles. who would have thought, because it used to be a place that people worked in, and vacated at night.

for peoplely there, another 50,000 from a decade ago. we're going to continue to go forward. >> it's incredible. literally from a flophouse to a million condo in less than -- >> and great companies. great prell preneuro. she moved her company to downtown los angeles. it's hip, happening. there's bars, restaurants. this is a place that people want to be to experience that urban life, but at a discount to new york or san francisco. annual finally the issue of taxes. this is cnbc, we like to talk about the economy and taxes. the economy, the movie and film industry, by the way, we're part of nbc universal, so we're in the game. a lot of tax breaks, right? but other states and cities saying, hey, come here, we're going to cut taxes. what is l.a. prepared to do to keep the tv and movie industry here. >> first of all, we're not going to take it lying down. we have a film office now, and we're expanding in sacramento, the film tax credit. the producer ease job is where industry started.

we new series that we've either broad to l.a. or start here that weren't going to be here. i'm optimistic we can expand that jobs bill, but in the meantime i'm letting people know there good old-fashioned dealing, come back to l.a. i've got to say, a guy born and raised here, it's exciting to see what's happening. i wish the angels were better, but that's orange county. >> i'm a dodgers guy. >> we won't even talk about orange county. let us know when you talk to adam silver, if you can't. >> i will. you got it. >> everybody is paying attention to that important story. mayor thank you very much. mandy here tess conference, where all the guests, tony blair, probably tony blair is the exception -- what everybody is talking about here are the clippers and donald sterling. there's a lot of other big topics, but this is dominating the conversation. >> i can believe why, and we're talking about it here as well. and also very interesting point

about taxes there, in light of the fact that "house of cards" got more tax credits to keep filming in maryland, so other states are trying to take some big away from hollywood. we'll get back to you in just a second. brian. when we do have a look at what's going on in the markets. we've been seeing some real sort of line turnabout movies, bigger intra-day swings in the year we have not seen, we're looking at some of the individual stocks when street talk comes back with dominic chu. he'll be standing in, after this quick break. k. financial noise

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could mean less waiting for things like security backups and file downloads you'd take that test, right? well, what are you waiting for? you could literally be done with the test by now. now you could have done it twice. this is awkward. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business. the dow is still holding. let's look at what's happens in terms of our daily rundown. what do we call it? >> we call it what's going on. >> street silk is what we call

it. those shares are moving to the down side. >> the target has also doubled here. that implied about a 15% valuation. they're making this evaluation call, expect long-term this is an industrial company that does everything from pumps to tubes, anything oil, gas, and really even airbase related, they handle. >> this is a strong run from the company, just upping the price target. it blew past the last one. >> this is one going to a buy from hold. >> this is the target price being increased, the potential

up side of about 23%. now they note, the analysts there, the recovery in europe, growth in asia pacific, all hot button words that go towards the auto industry, this is big. it's also about the 2015 f-series pickup that's coming up when you sell more of them, perhaps it's a good sign. >> it is a pickup truck indicator. who doesn't love a truck? >> i love a truck. >> moving on to masco. >> well, this is an interesting call here. the target price is $24 a shar., >> they were all due to the timing of the and now, remember, this is also a stock that got balesen up bad. they blamed it in essence in

part because of the weather. they could be poised for there is an upside move. making an interesting play on the housing industry that's not a homebuilder. >> but 0.3%. >> delta faucets, behr paints, they do all that home improvement type of stuff, so i don't know if it's a commentary. >> let's move on and talk about the blackberry. it's upgraded to perform. sum of the parts, those four words, it basically means if you break up a company, each one of the pieces added together is worth more than the company's stock pride right now. i remember on all that optimism, drops all the way back down.

half of its value evaporated. >> evaporated is a good -- >> there's no story here, this is a momentum stock, the same stock that was down big on friday are down big again today. netflix, amazon, priceline. >> facebook. >> all the social media once. netflix is the interesting. now it's lost about a third of its value since the recent highs, a third of the company's values. it was $80 back in the day, you bought it. carl icahn made a huge profit, but the question is, when do buyers consider this at least a value relatively speaking for netflix shares again. >> and certainly thinks types of names are weighing on the nasdaq today, it's still the underperformer of the three. dom, thank you so much. >> sure. >> great stuff. let's go to "talking numbers"

from both a fundamental and -- but today's topic is bank of america. it's down more than 6% after announcing it will suspend its buyback due to a miscalculation back in 2009. our question is, is today's action a bump in the road or the start of a steeper decline? gentlemen, always great to see you. steve, give us the fundamental side, first of all for this bank. >> first, more broadly i am not a fan of the banks in general. interest rates are staying subbornly low. several times in the last few months the yield has rejected value above 2.8%, so a low interest rate is problematic for the banks. secondly what we're not seeing a a lot of new home loan demand.

bac i think is one to look to perhaps buy right here. first, it's already you killed. that is a big move. so i think the time to sell -- the second thing, as the name implies, this is truly a bank of america. >> but, okay, maybe it's been heard it might be starting to look like a buy, but what about the charts. did they back that up as well, carter? >> the stock is quite damaged, to say the least. this is a winner that's doubled the performance of the bk index, and now of course we have a news-related drop in gap, and here's the deal. there's no such thing as positive or negative news. all there is is news. what matters is how people respond to it, positively or negatively. so whatever it is that they have reveal today about the -- an

error in their calculations, the problem is people reacted very negatively to it. you have a gap, again massive trade. even if it doesn't go one penny lower, it's highly burdened. there are a lot of people trashed now having bought it higher, and now the up side is limited. >> okay. up side is limited. instead the, you know, the shares that we're seeing to the down side are pulling down other financial stocks. gentlemen, thank you so much for joining us. be sure to check out the online edition of talking numbers in partner with yahoo finance. are we see a real u.s. stock reaction? we're about to talk about that with a very big named guest. his name is tony blair. yes, the form ever british prime minister. he's going to be joineding brian it is milken conference. we're going to -- or brian is going to ask him how he would handled vladimir putin.

tomorrow is the big reveal. from 25 to number one. up next we'll profile another one of the contenders. be sure to stick around for that, but sure bill griffeth, what's coming up on "closing bell", sir? >> it's coming down to the last hour again, mandy. we'll see what happens then, but also we're wondering, you were talking about bank of america, how on earth did bac miscalculate the capital levels. what it means for the future of the stock and its ceo brian moynihan. also, can the nba force l.a. clippers' owner donald sterling to sell the team after allegedly making those racist comments? attorney bob bennett, remember him? he represented marge schott severaliers after his own remarks and the aftermath. he'll be weighing in. and more earnings coming your way. herbalife reports tonight. kelly is back with me, trust me, she's here. we'll see you at the top of the hour on "closing bell." tdd# 1-888-628-2419 searching for trade ideas that spark your curiosity

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in in celebration of our 25th anniversary, cnbc created a list of the most transformative people in business in the last 25 years. so we're telling the stories of those top 25 before we reveal how they're ranked, here is the rags to riches story of fashion executive anuncio or tellinga. >> reporter: known as the richest man you have never heard of amancio or tellinga. he's not just the founding father of fashion. he's a quiet man of simplicity, humility and extraordinary intelligence, all characteristics that have helped create the retail empire and its

flagship brand zara. >> he had a very humble beginning, but very big dreams. what he did truly revolutionized retail. >> he dropped out of the school at 13 to earn money for his family. he got a job working as an errand boy for a local shirtmaker in the small spanish town of la caruna. he learned the apparel business from the ground up. he built his own business out of his sister's home manufacturing lingerie and housecoats. >> pretty unbelievable this unsexy story has made him the richest man in spain, a man many of us would like to speak to, but never have had the opportunity, because he truly just focuses on what he does and loves. >> ortega opened the first zara store. >> he's probably one of the most respected but hated, and i say the latter, because he has

changed the game with inventory and retail. that has to drive his competitors absolutely bonkers. >> the story has become iconic, envied by competitors, studied in business schools worldwide. >> zara has some of the fasters lead times in all of the world. in four to five weeks, the process is complete, from the beginning designs until the consumer can buy that top right off the shelf. >> while stores like the gap and h & m takes months to get affordable fashion on the floor, zara delivers new stock in weeks. designers talk directly to store managers to get inventory in the market fast and while it's still on trend. by the ary '90s zara was a global phenomenon. among its fans, the duchess of cambridge. >> competitors would love to replicate, they just can't. they keep their inventories very lean, which is also training the consumer. if you see something, you better buy it, because it's probably not going to be available.

it helps creates this scarcity of demand. >> while ortega is no longer at the helm, he maintains considerable influence. now 78, he shows up for work regularly, hangs with designers instead of company suits, and eats in the company cafeteria. >> he was certainly accessible for his own employees and those driving the vision he created. any suggestions from employees, he would put them to work if they truly helped the business. >> today the success of the company is most visibly portrayed by the stores across six continents, but in the few intervows ortega says the success was not him alone. a shy billionaire with a common touch. 1/2 fact the top 25 will be

revealed tomorrow, including number one, all day tomorrow on cnbc, a great reason to sit on the couch, get popworn and watch all day. let's look at what's happening with the markets. i have here behind me the s&p 500, moving down just by five points, which is about 0.2, but that's not the true story. it's trading at the highest level. in fact about one third of the stock in the utility sector have been trading at new highs. that's a good story out there. as for what's happening with consumer staples, the sector also hitting a new high today. telecom at this stage is the highest moving with financials. we're talking about that with bank of mechanic a moment ago. they are clearly the worst performing sector out of the tend here on the board here. okay. let's get back to brian. he's out there, hobnobbing with

world leaders and baseball legends. up next he'll speak with former british prime minister tony blair and then the los angeles dodgers manager and former yankees star don mattingly. that's all ahead when "street signs" returns. .

welcome back to "street signs." i'm brian sullivan out in los angeles. a lot of very serious topics here. in fact we are momentarily awaiting the arrival of former uk prime minister tony blair. it's not all super serious. there is time, it is los angeles, folks, to have some fun. yet we got on the field and spoke with don mattingly. so what's it like going from being one of the best players in the history of the game on the yankees, one of the greatest franchises, to become now the coach of one of the greatest franchising in the game on the opposite coast. what a switch. what's it like? >> it's great. it's perfect, you know, i feel like i got a good education with a big market playing in new york, dealing with summer steinbrenner, and everything that goes on with the media market, and come out to this coast, you know, a little warmer

weather, a little better weather, actually, and really to be a part of this franchise, with the branding, and everything they have done historically. it's a good feeling for me. >> the dodgers obviously have a leadership structure, but you in some case are also the ceo, on the highest payroll team, a record set for any sale for any sports franchise. that's a lot of pressure. how dos handle it? >> i don't think about that part of it. i look at the baseball side. if i'm the ceo of this field, in a sense, then the game is still played the way it's supposed to be played. that's our job, to come out here, perform, play up to the best of our ability, i know then if we do that, then we're going to do fine. >> you know, mandy, guess what? people think we just show up for work, monday through friday, reading a teleprompter. we're working on the weekend.

i had to go to the stadium, it was 70s, 80s. it's difficult. about the fact that the clipper story is really the biggers story of the day and what everyone is talking about there at milk k

uk prime uk prime minister, who just happens to walk in and sit down. it's shocking how that happens, sir. pleasure. thanks for coming on. >> my pleasure. going to roll with this thing. >> let's do it. >> new economic sanctions obviously russia, will they work and what would you do? >> i think they will have an impact. the important thing is to try and make sure we engineer a situation in which you can have a peaceful and diplomatic solution to this crisis, but it won't happen unless everyone knows there's very tough action that will follow if, you know, the situation is destabilized in the east of ukraine. and what's very important to understand is although there are certain amount of divisions in europe, in the end i think that europe will want to stand with america in making sure we take a strong and determined line. >> in your assumption, you are making the argument then that vladimir putin would want a diplomatic or peaceful resolution. do you believe he does?

>> well, i don't think you can be sure of that, but i think what you can be sure of is that you've got no chance of getting one unless the alternatives are going to be tough, so, you know, i understand how this situation has arisen. i think, you know, this has not been an easy situation the way it's arisen with regard to crimea and ukraine but you can't have a country being broken up this way. let's wait and see. >> do you believe the economic levers are strong enough? >> i think they could be strong enough. i think the announcement to further sanctions is obviously pretty tough. i think the big long-term question for europe is how do they get sufficient options on energy? as it were, that doesn't mean that the action that you want to take you're unable to take because of energy dependence. >> they are in some ways held hostage, are they not, but russian natural gas? >> well, there's a large amount of the gas supplies for europe

come from russia. >> that's right. >> so this is why for the europeans sanctions is a far tougher thing than, for example, here in the u.s. where the trade links and -- >> he can push back with natural gas. >> right. >> and severely damage specifically jer any's economy. >> that's true, but what i think you'll find increasely is europe looks for ways of releasing itself from that dependence, and even if short term that is difficult, and i think the long-term implications for russia are serious if europe really sets about releasing itself from that dependence on russian energy. the best way of resolving this would be a way to resolve it diplomatically so that in the end -- >> do you believe in your heart and head this ends peacefully? >> truthfully i don't know. i don't think anyone knows, but i know the alternative is going to be pretty grim for all sides. >> do you think we understand vladimir putin? >> well, i think it's fairly obvious. i mean, he -- he is defined by a

sense of russian nationalism, but he has got to understand that there is a strong sense of protecting our territorial integrity on the other side of the fence. >> what do you think his motivations are? >> i think his motivations are to do with the concept of greater russia, but i think -- >> that's what he uses as an excuse. >> but i think -- >> we've heard that excuse before in the past, and it hasn't ended well. >> sure. if you look at what he says and the buildup to this, i think there is a genuine and strong feeling in russia, okay? we've got to accept that, but the fact is whatever the strength of that feeling, you can't have a situation in which ukraine is -- is pulled apart in this way. >> and i know you've done a lot of work with the middle east and diplomacy. unfortunately, syria has sort of been taken off the front pages because of this. it deserves to be on the front pages. it's a crisis and humanitarian crisis of epic scale.

when does something get done about syria? >> i think when we realize that the consequences of inaction are going to be devastating. >> they already have been, with all due respect. >> they are devastating but they could get a lot worse, and the toll on the people in syria is obviously appalling. the numbers of people dead, the millions displaced. the effect of disintegration of the country, but if it continues, for example, with us and the uk now, our single biggest security worry right now are british-born people who fight so-called jihad in syria and will return to the uk as uk citizens, battle hardened, battle-trained and angry. it's not just a question of the humanitarian toll in syria which is appalling and terrible, it's the long-term security consequences. >> should the u.s. get involved militarily in syria? >> i would like to see us as not just the u.s. but at least go to the stage of saying, right, we

are going to assist opposition, and, for example, i've argued this for two years, no-fly zone, something that makes it clear to assad he can't win militarily. the truth is it's not in the interest of any of us that there's an outright victory by either side. you've got extremist elements in the opposition. you've got a government that's murdered large numbers of its own people and used chemical weapons, so you're in a situation now where you're going to have to bring about a negotiation, and you won't get that negotiation unless both sides know they are not going to win an outright victory. >> wish i had time to get to the great work you're doing with face to faith foundation and thanks for spending time with cnbc and just bombing in right on the show which we like. >> my pleasure. >> thank you very much. >> thanks. >> that's what happens here. more on cnbc after a short break. we're back right after this.

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>> thanks very much for that. if you're going to be interrupted by someone, i'm glad it was tony blair, obviously a very important and influential man. a bit of a battle of the accents there for a second but what's coming up tomorrow? >> sorry about interrupting you, mandy. tony blair literally comes in and sits down. that's how we roll. former former ceo of bear stear stearns. lots more coming up tomorrow on "street signs." >> welcome to the "closing bell." i'm kelly evans here at the new york stock exchange where we started with a morning rally, bill. i understand friday wasn't that great of a trading session. that's disappeared and dow up only 20 minutes. >> welcome back. >> thank you. >> and later a powerpoint presentation of the slides from her vacation we we're all looking forward to. >> no one looks forward to those. >> i'm bill griffith, by the way, the dow is holding u