blackstone continues to have full confidence in the portfolio.oxconn plans to invest $700 million in a new plant in india. the taiwanese company, one of apple's biggest suppliers plans to make iphone parts and handsets at the 300 acre site in bengaluru. it could employ about 100,000 people. that's global news powered by analysts in over 120 countries. tom: the leadership of china's central bank is currently in focus, as the governor nears retirement age. for a deeper dive on the candidates, here is bloomberg's chief north asia correspondent stephen engle. >> and unexpected overhaul of china's financial regulatory over regime would put key if not might policies in fewer hands and centralize it under xi jinping. unlike past lineups, academic or international credentials won't be preferred. a close confident of xi will be central to this reshuffle. he is expected to be chief of the central bank, as well as successor to the economic czar. the last premier took a top position had a to form style in the mid 90's that combated inflation. the next pboc g

blackstone will eventually achieve a good price. creditors rejected that deal and it appears to be because while the value of the properties has fallen, it has not fallen below the level of the debt, so they are confident ultimately but creditors will be made whole. dani: we have seen defaults by landlords in the u.s. i'm trying to evaluate whether this is something idiosyncratic. is this a global problem if it is in finland and the u.s.? >> there are similarities but it is important to draw distinctions as well. in the u.s., the office market is struggling. return to the office has been much lower than in europe and elsewhere. and there is much higher vacancy. plus, you've got sustainability issues as well with carbon emitting properties. in the u.s., you are seeing jenny wine credit losses. and it landlords basically give up and hand over the keys. in europe, rising interest rates are putting pressure on landlords. we had such low rates for such a long time, that's going to cause some pain but we're not get at this stage where we'

apollo, kkr, blackstone are credit experts.idea if they take on these loan books, they take on these clients and they feel they can do a better job at managing these loans. there are other assets as well, including the venture on the asset manager on the investment bank that worked on about $9 billion worth of deals last year. caroline: we still have to think about where the value is. we were just talking to mel over at we family offices. there is real due diligence going in and we are not doing it at this time. ed: the fdic made an effort at silicon valley bank. what happens in the action executives took? sonali: a few things to keep an eye on here. both the investigation when it comes to silicon valley bank, its executives actions taken before. so many critics in the market say it, some of these issues we have known about when it comes to their balance sheet management. even beyond that, stock sales from management, leading into a lot of the disclosures on information we had seen before the collapse of silicon valley bank. in

kevin blackstone is arguing there is an attack on diversity by ron desantis.in blackstone, "washington post," on diversity of thought because he disagrees with ron desantis, the guy who won by 20 points in november, won in democrat counties like palm beach and miami dadesxchl we saw what happened in 2021, when they argued major league baseball all-star game should be pulled out of atlanta. that was over voting rights. jim crow dot 2.0. set voting election under this, it looks foolish. we talk about bias on this show often and it is justified. here we forget that sports media is probably more biassed than political media when you see this come out of the "washington post." >> todd: we did a story charles barkly calling out espn on race baiting, how can you have a white m.v.p. story and kevin blackstone does a lot with espn, it is based on lack of understanding of ron desantis policy to begin with. ron desantis is not anti-speaking about slavery, he is anti-speaking about 1619 project. >> joe: 1619 projects, their premise, the revolutionary war was fought over s

blackstone had wanted more time to solve the underlying assets in order to repay the debt.y were denied a further extension by holders of the securitized notes. there are concerns about european property, about real estate, especially when it comes to the nordics. elsewhere in europe, we aren't seeing that dent to the economy specifically, specifically the dent to inflation. i want to show you what five-year swaps are doing. this have long been an obsession of the ecb in the era of easing. now that we are in the era of tightening, they have hit an all-time high. off the back of core inflation that surged yesterday. cpi was 8.5% year-over-year. this is a market that has had to quickly readjust. it's get to josie, managing economist at the center or economics and business research. the market has readjusted, have you readjusted your thinking on your can inflation? -- european inflation. josie: yesterday's data highlighted that inflation could be sticky. it fell yesterday for the euro zone as a whole yesterday. that was just due to energy, energy prices have been falling this

blackstone john's treatise held that the first choice of law is divine. god created natural laws, the rule this world and its creatures laws and the law of nature, which all are bound, is identical with the law of god. god enabled men to discover it through reason but quote eternal, immutable laws of good and evil. so far they are necessary for the conduct of human actions. close quote a universal of nations derived from natural jurisprudence, right reason, morality, custom, well munis of law reflecting these principles determined the rules of conduct for particular societies kant and blackstone inculcated this fundament hierarchy and this background. kant common terry discussed the anglo-american law system, which had evolved from immemorial court decisions and statutes. kant covered the rights of proper, real, impersonal commerce and, descent and distribution can also explain the tradition understanding of american government, constitutional jurisprudence. he focused on enumerate of powers and limitations of the federal and state government as reading l

yet to see people like kevin blackstone and stacey abrams will never be satisfied.s not enough to move spring training out of florida, it's not up to move the all-star game of georgia. it's only a moving bar until the next thing. is a litmus or purity test, a cult of wokeness. you did a story, john, of governor gavin newsom saying the walgreens won't be able to do business in california. why? because they defied the local orthodoxy. as walgreens. so i will say you have to realize at some point this is a test that can never be passed. but the second reason, and it's also cynical, but the second reason major league baseball will not make this mistake again is because ron desantis made disney pay for walking down this path. it is a game, look, if you will be held hostage by these radical activists on the left and you will pay a price in the market that they will make you pay, ron desantis made disney pay a price and the other direction. if you want to be political, treated as a political organization and that warning should ring true to major league baseball in the sta

century lithium lauren: a vote of confidence, blackstone ceo steve schwarzman has faith in u.s.hat he expects most to to the withstand the current turmoil if. he blames the collapse of silicon valley bank and who the other regional lenders on the after-effect of covid and technology. schwartzman says the crisis was fuel by social media causing massiveive withdrawals in a short period of time. a bank run started on twitter and then click, click, click to withdraw money on your phone, it's that easy. silicon valley bank's remaining 17 branches reopened under new ownership this week after of a deal with first citizens bank. but before that sale, new jersey-base valley national was interested in purchasing svb. joining me now in a fox business exclusive is valley national bank chairman and ceo ira robbins. thank you for coming on. >> thank you for having me. lauren: why were you interested in svb, and how do you feel you didn't get it. >> obviously, a bit disappointed, but i think it's a realest thement to who we are and the diverse business model that a bank our size was even able

you can go back to look at blackstone and say, wait a second, maybe blackstone was sort of the precursor of some of the things we're seeing now. i'm not saying blackstone is in trouble, it is not my point. but you see things like that and connect the dots in terms of the swiss national bank, let's call it what they are. they're a bank as much as i'm a bank they're one of the biggest hedge funds in the world they have $139 billion with a b dollars worth of u.s. equities on their balance sheet i'm not sure what their mandate is, but good luck with that. the whole world has been financialized to some extent you're 100% right. and to think that, again, credit suisse is going to be the last, no, it is not. you throw deutsche bank on that list and it will cascade from there. >> for more on these historic rate swings, let's bring in the man who is watching every single move rick santelli live from the cme. we're talking about the tremendous volatility across the curve today. it was just extraordinary. >> it really was whether you -- there is a variety of ways to monitor the volatility in treasu

. >>> shares of bumble tumbling on word the ceo and investor blackstone plan to sell shares they willith the offering with herd selling 1.57 million of the 12 million offered. the reminder wainder will come m blackstone dom. >>> thank you, pippa from wall street to washington, d.c. the senate voted to overturn a labor department rule that allowed and permits fiduciary retirement fund managers to consider environmental and social and government factors or esg in the investment making decisions. two democraticsenators, manchi and tester are joining the republican colleagues in supporting the measure and help push it over the finish line despite the all but certain veto from president biden, the fight is far from over joining me now is sarah bloom ra raskin she is a distinguished professor at duke university law school and former deputy treasury secretary. also held positions with the fed. sarah, good morning to you we enjoy talking to you and getting your insights. you have seen many different sides of our government and the way it works with regard to finance and banking. in this case

kim blackstone direct of external affairs for at&t. welcome. you have the floor for 5 minutes. >> okay >> can you see it, what am i doing wrong? i don't have share third degree information with the advocates and appreciate the opportunity now. >> in 2021 at&t made a 2 billion dollars commitment to address the digital divide including low cost offers in participation and connected learning program and a digital literacy course we developed for students for new digital learners i will talk about this in a minute. >> they have the acp program. 30 dollar subsidy toward your bill. and your and talked about this, the criteria to participate is set by guidelines. it is a 2 step process what the federal program requires. first go on 39 get your acp eligibility confirmed. once approved call at&t to have that 30 dollars subsidy applied to your bill. why so we made a commitment to spread the word on this programful partnered with community technology on a number of enroll am events throughout the city. where we have 6 at&t bilingual. niece a tech pop up a

kim blackstone direct of external affairs for at&t. welcome. you have the floor for 5 minutes. >> okay >> can you see it, what am i doing wrong? i don't have share third degree information with the advocates and appreciate the opportunity now. >> in 2021 at&t made a 2 billion dollars commitment to address the digital divide including low cost offers in participation and connected learning program and a digital literacy course we developed for students for new digital learners i will talk about this in a minute. >> they have the acp program. 30 dollar subsidy toward your bill. and your and talked about this, the criteria to participate is set by guidelines. it is a 2 step process what the federal program requires. first go on 39 get your acp eligibility confirmed. once approved call at&t to have that 30 dollars subsidy applied to your bill. why so we made a commitment to spread the word on this programful partnered with community technology on a number of enroll am events throughout the city. where we have 6 at&t bilingual. niece a tech pop up a

but in this blackstone's book of legal commentaries and hale himself flip flopped on this topic, rape was defined in a slightly way as the carnal knowledge of a woman forcibly and against her will. so one of the crazy things about these commentaries, as was pointed out by a former prosecutor reviewing my book last week, is the way prior private individuals comment on the law and redefine the law. and it makes us why we're taking their word for it. so to define, to insert into the law of rape means rape is no longer a crime. simply about consent. and it's also a crime. now about violence and this is this really shifts a shifting the legal standard of rape to, focus on physical violence helps to filter out some kinds of sexual assaults that really become very difficult to prosecute and makes other kinds of assaults still to prosecute or still possible to prosecute. and specifically i'll just point out that this is your stranger rapes in which. you're typically a lower class man makes a surprise attack. he jumps out from you in a parking garage, whatever. that's what all the blue lights

bloomberg news has learned apollo, blackstone and kkr are expressing interest in buying loans held by. over sarkozy joins us. he is currently the founder and managing partner of further global and has more than $2 million in assets under management. let's start with the 74 billion dollars loan book out of svb. a lot are saying that is an attractive by, coveted. what do you make it? olivier: loan books are evaluations of individual assets and what they would be worth. there is nothing you are acquiring. also, different pools of capital will be interested. i would expect the book probably traits at a reasonable discount given the change in rates and the speed at which those rates have changed, but i would expect a deep market for them. kriti: trying to get your hands on it? olivier: that is not something that we do. my growing concerns are operating companies is a -- as opposed to assets. we let others jon: fight over that. jon:i would assume anybody interested would have to be thinking about where we go from here. what would you say about the road ahead? olivier: for us, this is the ti

kim blackstone direct of external affairs for at&t. welcome. you have the floor for 5 minutes. >> okay >> can you see it, what am i doing wrong? i don't have share third degree information with the advocates and appreciate the opportunity now. >> in 2021 at&t made a 2 billion dollars commitment to address the digital divide including low cost offers in participation and connected learning program and a digital literacy course we developed for students for new digital learners i will talk about this in a minute. >> they have the acp program. 30 dollar subsidy toward your bill. and your and talked about this, the criteria to participate is set by guidelines. it is a 2 step process what the federal program requires. first go on 39 get your acp eligibility confirmed. once approved call at&t to have that 30 dollars subsidy applied to your bill. why so we made a commitment to spread the word on this programful partnered with community technology on a number of enroll am events throughout the city. where we have 6 at&t bilingual. niece a tech pop up a

blackstone alsostepping up again. a company that was a spac you get 850, you don't get the 10 this to stallone's 81% they took it public through a spac dr dragoneer with the spac. they're buying in the whole thing. this is the big seller from blackstone to cvent. >> this is for large -- >> events. >> this is not to rival ticketmaster, santa ana. >> no, no, no. it's technology solution powers entire event management process to maximize the impact of events >> all right >> there you go. >> there you go. >> sure enough >> 22,000 customers globally non-profits, corporate, higher education, hospitality >> is it in the cloud? >> i think it's in a lot of clouds, yeah i think it's in everybody's cloud. >> good to see a spac get a buy from a real company. >> you didn't get 10 if you redeem, at least you're getting 8.50 the presence of abu dhabi in both, awed yeah in both; significant minority investor alongside blackstone in the c slooet vent deal, as well a minority investment in the june vard deal. -- >> i'm waiting for them

they're investing in private equity and debt and real estate, and they grow -- similar to blackstone,y times on the show. apolo apollo's really -- apollo's really good at what they do. everyone knows who goldman sachs is, everything they said was on how we want to become basically more like apollo and blackstone. stuart: really? >> we want to be an asset manager, we want more consistent earnings, we don't want to do all these up and down the things. stuart: what's it yield? >> on a whole-year basis, about 5%, but the dave the end the goes up and down each question reader -- dividend. stuart: franklin resources, what do they do and what do they pay? >> more consistent, it's about 45%, they are grow -- 4.5%. i love the ticker, ben for ben franklin, and they're very, very good at managing money, getting fees to do so concern. stuart: did you say what they pay? i can't remember. >> 4.5%. i say it almost 5 seconds ago. stuart: i have no short-term memory. you understand the, david. david, thank you very much, indeed. susan, a thanks also. >>> attorney general merrick garland testified befo

blackstone? >> caller: yep. >> blackstone is at 83. i like that. i like that.od to go. let's go to joe in new jersey. joe in new jersey, joe? >> caller: hello, jim cramer. thank you for having me on. >> happy to be there. >> caller: yes. hey, with the negative earnings per share and the near 52-week low, is prudential financial a buy? >> ah, you know, i'm not recommending. i'm kind of backing away from financials until the crisis is over. it does look very compelling, but it might look compelling lower, which is the problem. let's go to gabe. gabe? >> caller: actor cramer, my bottle signing friend. thoroughly enjoyed yesterday's interview with jenson long. how are you, my friend? >> well, i tell you, i have a bit of a scratchy throat, otherwise i'm fine. how you, sir? >> caller: yeah, i can hear that. i'm good. jim, last month on "mad money," you showcased this company as one of the top performers in 2023. so bring us up to date on this drug manufacturer called canelin. >> there was a lot of talk that dave was going to buy this. danaher is a charitable trust na

i mentioned in a moment ago, glee, oh blackstone, which is this rare brain cancer? it's something that my friend had at something that bo biden had. it turned out that in my friend, david's case, he had to tumors in his brain one the size of a walnut and one the size of a p. but they were so deep in his brain that they were in operable. there was just nothing that could be done. it turned out that bo biden had pretty much the same thing. but what else are we talking about here? are we talking about respiratory illnesses like c o, p d? are we talking exclusively about cancers? what are these people coming home with? the current home? what was so different diagnosis? you have to share. there was, you're burning anything and everything. so you have your deal with, with thousands of cars that are affected by so many different ways. i've talked to people that had this soldier who had a tumor on the side of his side on the side side. and i think to really understand, all right, and what was your purpose? asked the cdc don't even have names for dorms. so i think, i think t

i mean cocktail might, for example, promote the growth of tumor cells. capes and, and blackstone give her that van, ah, does this india listening canal so which products are fortified? all sorts of products including breakfast cereals, snoo, these yoga, super sausage and go to bath. even energy drinks and candies sometimes contain admit him in a minerals, a marketing ploy to make sweets and sugary drinks seem like a good choice. as as god, it's a perfume death hours the prince just wrong. that obviously unhealthy foods to be such a sweet and other process products with no nutritional value. it's are given this kind of a health washing as the varden when the feet, i mean for pumped full of vitamins to suggest that they're healthy design when they're actually not in this supply. dylan healthy and just adding an extra scoop of vitamins does nothing to change that form, pete. i mean, so do we need these supplements? ah, for 2 days, sandra mall, she wrote down everything she and her family ate. now for the moment of truth, how healthy was their diet? matilda, casting an expert on child nut

then john blackstone is talking with the children of those rock and roll legends the everly brothers. smith looks into the ongoing crisis in education sparked by the covid pandemic. plus, martha teichner with michigan governor gretchen whitmer. rita braver on the growing popularity of girls wrestling. we'll tour an exhibit of photos that find beauty in our industrial landscape along with commentary from author david sedaris and more on this first sunday morning of spring, march 26th, 2023. we'll be back in a moment. >>> by some estimates up to 70% of the artifacts that we clamtory see in museums around the world are actually stolen. the underside of a global market that's worth billions. seth doane looks at the growing effort to return some of these looted treasures to their rightful owners. >> reporter: here is a dirty little secret. up until ten years ago it was considered oh so gauche to ask inconvenient questions of pr provenance. an assist district attorney in manhattan, hoflds prosecutor and retired marine colonel with master's degree from the classics. it makes him a powerful f

blackstone was the busines doug first invested in, before he got interested in the oil lease.lot of money around they were doing well >> absolutely. >> was your company making money? >> yes, it sure seemed like it >> and james was tough and buff and all man. >> it would be 20 degree outside and he'd be wearing t-shirt. everyone else has a little shiver he's standing there shiverin but he's making sure his arm are pumped up. >> he's a buff guy >> yeah. he wants you to see his guns he's showing them off. and their perfectly white teet and their tans they looked like ken and barbie they didn't fit in at all. >> not a nickname sarah took to, mind you >> no, i feel like i hav somewhat of a brain, i don't want to be called just a barbie >> well, you're living in town of men. >> mm-hmm. 92 to 1. >> all jacked up o testosterone >> oh, yeah. it was rough i hated it it was miserable every day was a plan on how to get out. but -- >> with him presumably >> yeah, we wanted to leave th oil field, but he just saw s much opportunity and money he was like one day we'll ge there. >> doug carlil

alix: blackstone has defaulted on 531 million euro bonds on a company that it acquired in 2018.of thing the stuff we will start to see. i understand the deals they are making now are different but is this a canary in the coal mine? anthony: some of the deals that were done in 2021, you will see some stress in the system. it is for uighur businesses were too much leverage was applied. we will start to see some problems occur in some of those portfolios. they will have to put in more equity or there will be more serious issues. you mentioned real estate, and office buildings are under tremendous pressure right now. within the real estate market you will start to see bigger challenges on the corporate side in areas like office buildings which the recovery will not be so robust. guy: as you say, you have to pick and choose your spots and be careful particularly in the private credit markets with who you lend to. we were talking about the fact that some of the lenders in the space will be pulling back from the risks that are out there and it will create an area of volatility. you tal

and it's of square miles of forests where thing, but blackstone, it is far sudbury has come. this reminds and the on tacoma, desert and elsewhere in the world for sudbury can also be a role model for more popper mining in germany. this til op for renewable energy have much of a choice doing. but jen, how copper is source college. i'd must enforce reasonable mining standards for this vital resource comes unless.

as illegitimate unilateralism threatened blackstone, russia phil diploma highlights the importance of strengthening intercultural dialogue within the g 20 group in order to find answers to the challenges that the world faces today. also ahead on the program this hour, the ruling parties candidate is declared victorious in nigeria presidential election. but questions are great. the by the integrity of knowledge done grenades or fire does protests in gulf more cities around israel coming as anger over the new government judicial reform with from moscow to the world. this is our teacher national pleasure to have your company today. my name's you. don't know me russia and india stand against neo colonial practices. the remarks of circle for off after meeting with counterparts in new delhi, the g 20 foreign ministers conference muscular and you're really frustrated with the moscow in new delhi, are consistent opponents of such neo colonial practices in the illegitimate unilateralism threats to blackmail and other types of pressure on sovereignty, there is no doubt that restraint when you'r

that's what we see when we see the blackstone headline. i didn't write this.nk david made a good point. there are some irresponsible comments over the weekend. lisa: you are talking about some of the venture capitalists? jonathan: i think those of the voices that make it difficult for policymakers to do the things they say we should do. it sounds like you're doing it for them. lisa: gary said he would investigate some of this for securities issues. jonathan: equities right now are up 0.8%. that's a turnaround in the last 10 minutes or so. ♪ this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. jonathan: equities firmer, close to session highs. on the nasdaq 100, up 7/10 of 1%. first republic followed a lot for obvious reasons. we will pick up on that in a moment. a 100 basis .2-year in three sessions. we have not seen moves like this since the 80's. i don't the queen ever seen a reassessment like we did yesterday to price out all of those rate hikes. i think we had a peak rate priced in last week of something like 560

alix: apollo blackstone is all interested in purchasing svb's book.th that news, what part of the loan book are they interested in? sonali: it is seen as an attractive set of assets. svb secured relationships, there is a part of that loan book that is very attractive. the likes of apollo started lending out secure assets so softbank. you can see this as an extension stepping into the venture space and to make the loans more secure for themselves. since 2008, there has been this wholesale shift of lending activity over the private markets. they have raised a lot of money and you can see this as an extension of that. apollo looking at these silicon valley assets after the deals they have done with credit space. an interesting move into the private market. guy: we are seeing stability returning, a bounce in the regional bank stocks today. will that make it easier to unwind silicon valley bank in the process that lies before us? herman: their loan portfolio was not the issue that led to their downfall. their portfolio had been really strong, 53% of their

that new ceo joins from blackstone where he was global head of portfolio operations and are managementor the firm's infrastructure group saudi aramco is buying a $3.6 billion stake in the chinese refining giant in its biggest ever foreign acquisition. the 10% acquisition is aramco's second deal in two days, as to its exports to china. the deal commits shipping thousands of barrels of additional oil a day to china to convert the chemicals. the stock of ronsheng going up today. david: we will stay on oil and energy. one sector we are seeing mostly gave across the region from korea, and japan, and within that there is australia. we're up 3.5% on the shanghai crude contract, that is amidst the 4% jump in global brand prices yesterday. also leading today, hsbc is up 1%. stanchart is up zero point 75 -- 1.75%. hasn't quite recovered fully. still down 8%? yvonne: yeah. david: year-to-date. a lot of that has to do with the losses recently. yvonne: yeah, after the underperformance of banks and really energy. we are catching a breather. coming up, we will talk about that breather after weeks of

we're trying >>> when we come back, blackstone ceo steve schwarz ma schwarzman's take on the economy.nd later, mohamed el-erian's comments tonhe fed's next move. "squawk box" will be right back. >> announcer: currency check is sponsored by interactive brokers. the best informed investors chosen afterchose interactive brokers. >>> welcome back blackstone had the ceo conference a gathering of corporate leaders and investment companies in the portfolio and beyond i got the chance to speak with bl blackstone's ceo steve schwarzman we got to talk about the various cycles i asked if we were in the economic crisis and he said no if you listen to the advice he has been telling the portfolio companies the last six months, he has been telling them to make sure if they need any money to borrow borrow it now. you never want to go to the bank in a crisis or have a maturity come due in a crisis the best risk managers are looking at this. we don't know what will happen or when. if you are a risk manager, you are making sure that you are ready to withstand what comes the next two years this is one of

we have $240 billion they pay attention to us, you know, at blackstone or apollo.spro. i don't know in they would take away their rights to care about the set of issues. >> not all of the people in plan might care about the same things that the manager thinks. >> this is the challenge of being a fiduciary. >> the biggest challenge of being a fiduciary is to give the highest rate of return for the people so they can retire as comfortably as possible. >> lunchtabsolutely. >> as good intentions cause you to miss a three-year bull market with renewables and at the same time, you get the indices -- >> this is a great point of view if that were the case and you look at the next three years -- >> that is the next. >> 20 or 30 years. >> according to you. not according to other people. >> i'm not telling them how they should approach their risk >> you are telling people in their plan they need to be on board with your progressive interests. >> people treat me as the fiduciary. it is about the judgment of risk that arour investment team has. >> it is not shareholder return.

blackstone is looking at other parts of svb potentially as well. shery: it is all about regulators trying to figure out what is going on. they are looking at executive stock trades cared what do we know? >> we don't know a lot yet. we know there expanding their vesta geisha and into the collapse to the stock trades. we did report last week svb's ceo sold about $3.6 million of shares not long before the failure. that was a preplanned stock sale so that may not be the issue at hand but there is a lag between when the sales are happening and when they are reported. they are looking into other stock sales as well. we don't have a lot of information but we know they are concerned about the executive stock sales. often executives have a lot more information before the rest of us and if they are trading on that before the collapse then that could be a problem. haidi: really interesting what we heard from the new ceo of silicon valley bridge bank asking for depositors to come back to the lender to help them rebuild and forging the argument that with the ba

. >> their questions about blackstone reits.it change the way you structure and sell the product? >> as much as it is easy to take a shot at a competitor, they are doing the right thing. they are paying the tuition for the industry to explain to investors that alternative has a cost. alternative means you will get more return but you will give up some amount of liquidity. investors need the education to understand that the money they allocate to alternatives is less liquid than in public markets. >> are there pots of the alternative market -- parts that you worry about for the next 12-18 months? >> if you go back to 2007, we had a period of excess. far greater than what happened in this most recent access. in 2007 it was funded with leverage. 2021 it was funded with equity. so i believe that while we will have some amount of distress, i don't think the distress cycle will be anything like what we saw in 2008. most of the pain is going to be worn by equity. the best thing to have done for investors for the last decade up until wh

and what was once hundreds of square miles of forest were nothing but blackstone. it is amazing how far sudbury has come. the success has set an example for mines and the other comma, desert, and elsewhere in the world. ah, perhaps sudbury can also be a role model for more environmentally friendly copper mining in germany. despite coppers drawbacks, i will still opt for renewable energy. after all, we don't really have much of a choice doing, but something has to change and how copper is sourced. politicians world wide must enforce reasonable mining standards for this vital resource. companies can not be left to their own devices to decide themselves. what is best for us all? ah, we love euro. we love diversity and anything unusual. no mountain is too high, and no road is too long. in the search of the extraordinary we are the specialists of the lifestyle europe. your romance. in 30 minutes on d w with the i was just rescue it from a farm. this one, this body go with. i found it like this and i couldn't just leave it there. should meet a this is such a great burden

. >> there were questions about blackstone.s that change the way you structure and all the product? >> it doesn't really. as much as it is easy to take a shot at a competitor or someone who is in the same industry, they are actually doing it aptly the right thing. they are paying the tuition or the industry to explain to investors that the alternative has a cost. the alternative means you're going to get more return, but you will give up some liquidity. investors need the education to understand that the money they allocate to alternatives whether they are equity or credit is less liquid than in public markets. >> are there parts the alternative market that you worry about for the next 12-18 months? >> i don't really. i don't see the kinds of access. if we go back to 2007, we had a period of excess. it was far greater than what happened in this most recent access. the excesses and 2007 were funded with leverage. the excesses 2021 were funded with equity. i believe that while we will have some amount of distress, i don't think t

indications are that apollo and blackstone stepped in looking to purchase the remnants. about credit suisse was a major bank, just two bucks a share. susan: they bought first boston in the 1980s. that's a big concern for the next bank run for the record low and they say withdrawals are up significantly. they saw customer withdrawals, 110 billion in those 3 months to end last year, they say withdrawals of stabilize, they've not gone down which is the concerning part but they've not pulled the annual report on accounting concerns, the sec said we need to look at 2019-2020 annual reports report, they lost $8 billion after losing money arctic ocean, the hedge fund blue up. stuart: what has can griffin had to say? susan: a bailout, bondholders got wiped out in silicon valley bank but can griffin says the backstop guaranteeing his deposits, us capitalism breaking down before our eyes and spp, a great lesson in moral hazard, losses to depositors he thought was immaterial in the broader scheme, systemic risk of the financial system and risk management is essential, he's blaming

it first came with the b rate issue with blackstone and those types of products.ow folks are looking at american banks and saying especially regional banks have huge exposure to commercial real estate. are you concerned about the american commercial real estate market, and potentially some of the european markets as well? tatjana: there is a big difference between the u.s. and europe when it comes to real estate. it seems that in the u.s., in some areas, interestingly, earlier you showed to be areas for immigration. also, that means there is a lot of people leaving certain areas. i guess this is new york that has suffered from the move for instance, to florida. and also areas where we see that the tech sector is not so much in favor, northern california. it has been somewhat in decline. there is too much commercial real estate, specifically office space. that seems to be regional to the u.s. we haven't seen an overbuild of commercial real estate in europe. there are issues with the real estate market with respect to governments, interconnectedness of some of the i

. >> ifxdi] i werexd jonathan bre >> jonathan gray, president of blackstone?econd. i want in. z what? j$(psq in and did that restructuring. he wanted to getfá in on the collapse of silicon valley. >> okay, we're talking about that. >> let me in. and morgan stanley,i] if i want to go high-end. schwab if i wanted to gofát( high-end. schwab came on with the shares, ceo, and i'm just saying, lploo if my stock is up 50%, i want in. that wasçó a very smart thing. >fpittlee1 late now, isn't it? >> well, first republic's still down a great deal from where it was. >> so, you're saying if andq-whn first republic, butçó it would need tod which is unlikely. well, i don't want to say unlikely.-9■fá >> it goes back to blueprint. last+■i] wednesday, our bluepri was, you know what? we're no bailout. that was janet yellen speaking at exactly the same time as jay powell. that was major policy mistake. >> true. but first republic shares are up today. we've talked about it as axd ba that's not going to earn a great deal of money but the deal with thexd hole in the balance sheet y

. >> on february 22nd, 2012, k.c dropped briefly into blackstone's headquarters, and then was gone so did he leav in a huff or was it somethin else because nobody ever saw him again. >> no sign he had been missing for a year two years at this point. >> was henrikson questioned? >> he had taken a polygraph. >> and he passed >> yes, and so the two detectives got in the car an drove 700 miles so watford city, minnesota their destination, the home of james henrikson, and sarah. >> in the garage was like 2-year-old bentley, flat tires kind of almost laying on its belly. >> a bentley, an almost ne bentley. obviously not taken care of at all? >> no. >> sarah answered the door very pleasant, said th detectives and went to get james. >> how did james henrikson greet you, did he, you know, tell you a story, sit you down for a cup of tea, what >> he leaned out the door, slapped me on the shoulder, an said, it's too bad you drove all the way, my attorney tol me not to talk you >> you got nothing >> got not >> he was a big man, 5'10" o steroided rock muscle. he bragged he was benching ove 500 poun

. >> blackstone, they're best in breed andcosm down from 130s to under $90 a share.se is capital deals aren't going to work out and stuart: well done young man. jp morgan, you like it too. >> there's a lot of accounts moving over for jp morgan right now for more than they can handle. >> from the portfolio and hearing from someone yesterday and three days to get an account set up. as you can go to another back end and the day. as that continues, jp morgan finds interesting ways for loans and mortgages and investments to monetize the clients? that's a long-term boom for them. stuart: outcome of the modest banking crisis is the big banks get bigger and more powerful too. thank you, mike. now this, the white house approve add modified position of willow oil project and jeff flock is with us. what has the president given and what has the president taken away, jeff? reporter: i feel like i'm in alaska this morning, stuart, by the way. he's given them a drilling project, which of course is something they got from conoco phillips and they've put a lot of alaska and a lot mor