i am tom keene, scarlet fu and adam johnson with me this morning, bill cohan with us as we look at thepensation. bill, a bank and just wrote out a check for tuition or two and they got a delayed compensation. they are not only miserable, they are livid. where is the new compensation on wall street banks? >> first of all, it is lower, but it is not sufficiently low, it is still very high in other words -- >> everyone is enjoying their alternative minimum tax. >> everybody without risking any of their own capital gets paid what these guys get paid, nobody can get paid wit like that. if you want to risk your own capital, you can make more money elsewhere. >> is the compensation coming from down the income statement in some form of profits, or is it a general statement to a revenue-based? >> come on, the days of sharing and profit are gone. it is all revenue driven. they will generate a lot of revenue by trading this or doing that big merger and then i will hightail my butt down to the corner office and start telling the guy in the corner office -- >> here is what i made. >> you pay me 12%

bill cohan stays with me.the whole conversation about the new age of banking, who would have thought cyberattacks would be at the top of the list? >> first, it is an honor to be on with bill today. >> i hear you are a fan of his book. >> i am a fan. i got his book. over the weekend i called carlos barrera -- he said something , putting on ang little bit of my old ubs hat. what he said was very clearly kind of more or less a quote that banks seem just -- need to start in crafting their data and use digital identity for their clients, similar to what tom ridge just said. whole idea of password protection alone is not going to work against this whole cyber terrorism going on. then he started talking about how, you know, when i was running ubs, we kind of built our own fortress around the banks, like let's check our own castle, and we make sure that everybody -- that everything in and we make sure that everything inside is protected. >> you mean people doing things inside? >> you have to watch kind of both sides o

goldman comes out with a good number but the market is not feeling it done i want to bring in bill cohannd bloomberg's michael moore to help us parse the report. william, michael, welcome. >> thanks. >> i missed during garcia. >> i do, too -- i miss jerry garcia. >> i do, too. >> a do you remember electronic dance music? it is my belief that electronic dance with the is the new grateful dead. i think the grateful dead was more about culture, less about music. >> that is not true at all. >> in your opinion. >> in many people's opinion. >> you talk about is going off the rails. >> i have a feeling that lloyd bank finance gary cohen are neither grateful dead nor calvin harris fans. >> jerry garcia was the goldman sachs of guitarists -- >> and of some risers -- and of song riserwriters and of singer. >> let's talk about why goldman 2.5%? are down >> why are we treating michael like this? do you like the dead? >> they are a little before my time. >> he is like -- i am not sure. talk about goldman today. >> i think investors are looking some privateng, equity gains, so it is not seen as sustai