jack lew is here also served as white house chief of staff and omb director.ng here, as we try to assess where we are ten years later. i want to read you something from today's "the new york times" which i think is pretty interesting about the questions about whether the policy response to the crisis worked or not. data from the federal reserve shows over the past decade and a half the proportion of family income from wages has dropped from nearly 70% to just under 61%. it's an extraordinary shift, driven largely by the investments profits of the very wealthy. in short, the people who have possessed tradeable assets especially stocks that americans are depending on savings from their wealthy paychecks have yet to see when you think about the recovery, it looks from a headline, tom line perspective quite tremendous, right? 3.9% unemployment. but people talk about how uneven it has been. what do you make of those numbers? >> look, there is clearly a problem in the country in terms of income equality it predated the financial crisis it was made more extreme durin

there are risks here, when jack lew was treasury secretary, he pointed out that we had to be carefulsing secondary economic tensions because if we use them too often the world might say -- let's not have the dollar the the reserve currency anymore. let's create a basket so that we don't just rely on the dollar. in addition, because of the tariffs the president has put on, we are squeezing allies and kinds ofin all directions again, pressing them to find other alternatives to our powerful economic power. finally, if you look at the russian economy, which is very challenged, the ruble has come to mean nothing, but oil is traded in dollars and when these secondary sanctions go on, the price of oil will go a fire. and russia will make out like a bandit. and that's not in our national security interests. david: i want to turn to another part of the book, you talk about north korea. you spent a lot of time negotiating with them in the clinton administration. and office moment each ride to get a deal but it didn't happen. looking at what trump is doing in north korea, is he making progress?

i could just do this >> jack lew was on set the other day, i tried it he just kept talking.hat is a mix minus? what is an ifb you know what? we can't go there. >> right >> eamon javers, thank you i hope we fixed your audio problems >> all my problems have been fixed. >> all right good thanks >> we fixed you, we're letting you go. >>> when we come back, cnbc.com's todd hazelton was here yesterday to review the new iphones. today he's back with a look at new series 4 apple watch he will tell us whether it's worth buying after the break right now a quick check on what's happening in the premarket. some of the biggest winners and losers in the dow. right now home depot is leading the way, up about 40 cents at ally, we offer low-cost trades and high-yield savings. but if that's not enough, we offer innovative investing tools to prepare you for the future. looks like you hooked it. and if that's not enough, we'll help your kid prepare for the future. don't hook it kid. and if that's still not enough, we'll help your kid's kid prepare for the future. looks like he hooked it. we'll

. >> just different opinions >> was i still reeling from the back-to-back jack lew and barney frank interviews when we jan kniffen on >> he just e-mailed me i spoke with him >> i didn't know he was on this is happening to me lately kathy, you are on the show right now, aren't you? so he was not on the show yesterday. >> no. >> but he could have been. i was reeling -- >> i talked to him, not on the show i e-mailed with him. >> so, this makes you worried about high yield in other corporate bond investments then. >> yeah. we're not underweight high yield. still neutral because we think you will continue to earn the coupon, the coupon is attractive relative to other yields out there. the environment is still good for corporations earnings are good. the economy is going well. there's no reason to go underweight. we're cautious about valuations. if we get to the point where the fed does invert the yield curve and tighten credit conditions, then the weakest links are usually in the high yield area, maybe floating rate, now the leverage loan area >> do you concern yourself with macro forecasts? do you

an agent named lew wasserman who represented mca, got the idea with jack benny on radio and then latern the movies to incorporate the stars, one pillar of the system. (douglas gomery) he had them set up an independent company