blankfein are choosing not to disclose that. i'm not sure we will get any more information about that. as far as how we're doing, it's unclear whether or not mr. blankfein is going to dial back on his public appearances which might provide an opportunity for someone to ask him how he is doing. i think that's probably how we would see or get any updates on his health during this time, but again in the statement he says this is a curable form of lymphoma and he does plan to work during his treatment. so i'm sure he will be in the office and, again, if he is making public appearances it will probably provide people with an opportunity to ask him about his health. >> mary, thank you. our thoughts certainly with mr. blankfein as he battles this, just as with so many others. >> we do hope it is highly curable. >>> into the close about 37 minutes left in the trading session here. again, off the session lows, but still pretty healthy selloff today with the dow down 244 points. >>> now former goldman sachs ceo and treasury secretary hank

lloyd blankfein has lymphoma.f tests which culminated in a biopsy last week. i was told by my doctors i have lymphoma. my form of lymphoma was highly curable in my doctors and an expectation as i will be cured. shares of goldman sachs are falling imad news. israel becoming the latest country to boys can turns over russian military involvement in syria. benjamin netanyahu meeting with russian president let america yesterday to develop a plan to avoid clashes in the region. joining me now is intelligence operator news correspondent leah gabriel. >> i think what we see is benjamin netanyahu same is benjamin netanyahu saying that guy finishes in the area. now i need to de-conflict because he's seen the large buildup of military forces. we are singing of course the big one is a former fighter pilot comes to my notice is the service to air missile sites pressure put and peer there is an issue d. complexion. nobody knows what putin is doing now. he's playing a big diplomatic game of chess and right now we are losing. we

blankfein and we hope it is a speedy recovery.ornia are feeling the heat, literally, we got that story when we return, and jeb paulson discusses the fed's reasoning for holding off on oo rate hike, plus, the sectors he likes right now. we return in a moment. can protect capital long term. active management can tap global insights. active management can take calculated risks. active management can seek to outperform. because active investment management isn't reactive. it's active. that's the power of active management. excellent looking below the surface, researching a hunch... and making a decision you are type e*. time for a change of menu. research and invest from any website. with e*trade's browser trading. e*trade. opportunity is everywhere. (vo) wit runs on optimism.un on? it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to inve

ceo lloyd blankfein revealing today he has cancer. in a memo to employees he writes, quote, my form of lymphoma is highly curable. my treatment plan is over the several months in new york. my doctors advise during treatment i will work substantially as normal leading the firm. my colleague, steve cortez is here. steve, talk about the effect on the stock here. investors, they look to lloyd for leadership. goldman saks clearly looks to lloyd for leadership. when a ceo falls ill like this, we saw this in the case of jpmorgan and jamie dimon. he had throat cancer, what happens to the schoolgy of investors buying into that stock -- psychologygy? >> trish, listen, lloyd blankfein has been such a powerful and effective leader not just for goldman sachs, but to all of wall street. he embodies wall street to the rest of the world. it is distressing and serious that he has a serious illness, this is transparent they have to be transparent with employees and investors about his condition. if it worsens they need to say so. as long as they do tha

mike: an update on lloyd blankfein. in a letter to shareholders that he has lymphoma. it is a highly curable form of lymphoma. his doctors has his expectation is he will be cured. doctors say he will be able to work normally. although, he has canceled some of his travel. erik schatzker covers the .nvestment banks for us he is with us now on the t-mobile phone line. we saw this happen with jamie dimon at jpmorgan. he was able to keep a tight handle what was going on at jpm. any difference expected from lloyd going fine and goldman sachs? erik: a bit of that question is hard for me to answer because jamie dimon had throat cancer and lloyd has lymphoma. the dynamic is a bit different at goldman sachs. in the management committee and the board room, perhaps where things may play out differently. the longtime president would love to be ceo. that will not happen anytime soon, not while lloyd is in treatment but it may give gary the opportunity to lead more than he's been allowed to a goldman sachs until now. it may give the b

the goldman sachs ceo lloyd blankfein says he has lymphoma cancer.ymphoma is highly curable and will still working although will cut back on travel. he is 61 years old and has been ceo since 2006. ian bremmer is still with us. i wanted to focus on brazil. you take a look at the currency, and it is at a record low today. does he have to go? >> leave as president, 2016. -- she is not, in my view, going to get indicted. it is not appear through the investigation of the extraordinary case, it does not appear she has been directly involved in any way that would force her to leave. that means you would have to resign. i do not see the opposition vote for that right now. her popularity ratings are absolutely in the toilet, which means she will govern and effectively. there will be no reform process. no way to attract capital into the brazilian infrastructure, so people are not believing in brazil right now, but that is very different than saying she is about to be impeached. she get people to believe in brazilians? she does not. one of the reasons is has go

lloyd blankfein discloses he suffers from an curable form of cancer.will continue to lead the company. the stock is down. is what it is a difficult time the crash. my take on the pope's visit to america. my next guest is a catholic congressmen planning to boycott the pope's appearance before congress this thursday. welcome republican congressman paul gosar. you are a catholic. why don't you want to sit down and listen to what the holy father has to say to you? >> the thing about it is the priority we find ourselves in. an administration in world treating the symptoms of the disease and the one person who can speak clearly as the pope in regards to calling up a tolerance, sanctity of life and doing it right now. it doesn't appear that's what he'll talk about. stuart: he is going to talk about climate change. >> income inequality and everything else under the sun. as such a point in time in history, this is the one person that can collect islam and governments around the world to look at the mosque am a christians lost around the world and speak up about

male about the illness of lloyd blankfein.ak with the eu trade commissioner, good morning. ♪ welcome back. pope francis is in washington, d.c. in a couple of hours he will be tong from the apostolic -- capitol hill to address a joint meeting of congress. across georgian house the street from the vice president's residence near the naval observatory. it functions as the vatican's embassy in washington. tom: interesting. >> you can see the crowds lining the route all the way to the capital. it is probably a 15 minute drive, people crowding into the d.c. toet a glimpse -- get a glimpse. tom: it was really something yesterday. people were really taken. vonnie: and you can imagine watching the mass from central park in your windows. midtown, and i saw in as well out in force as they began. it is at 4:00 p.m. today? >> fair warning, do not be in a car. vonnie: let's look at movers this morning. percent, the of a dow down. folks like him could have a bit of a better day, it is up more than 3%. there might be some resolution to the le

of goldman sachs closed down around 2% after falling around 3% on the back of the news that lloyd blankfein has been diagnosed with a curable form of lipoma. he will run the company as normal but had to cut down travel plans during the course of treatment. the firm plans to expand the responsibilities of goldman's coo. >> brian moynihan will maintain his role as chairman and ceo of the company. 63% of shares cast were in favor of allowing him to keep both posts despite an on going push from other activist investors to separate the roles. let's look at shares in this hour. in germany they're up by 1%. >> still to come on the program, market volatility, currency intervention, slowing growth and cyber hacking, what does this mean? and the chinese president makes his first official state visit to the united states. more after the short break. >>> 400 million users only nine months after getting to 300 million and pope francis and chinese president xi jingping continue their visits to the united states. >> insurance website cover hound has raised $33.3 million in it's latest financing round. the

that ties in with comments from lloyd blankfein and ray dalio. what to the markets think? let's check in with jonn ferro. jon: no consensus. nobody knows what is going to happen. that is the first time we have a live meeting of the federal reserve. when they sit around the table today, what are they going to be looking at? the good, the bad, the unknown. unemployment down to 5.1 percent. potentially bad -- the inflation numbers. what is the outlook for inflation? how certain are they that in the medium-term inflation goes back towards their target? completee is a unknown. how did they factor in the global situation. what is happening in china? how conscious are they of the 15 major central banks that have hiked since the financial crisis only to turn around and reverse course. there's a lot of questions the fomc is to answer. francine: is there such a thing as a dovish rate hike? jon: i think what is going to happen. but the focus will shift to is the path. janet yellen has been key to get the focus on not the first lift off but the future rate path. where will rates be in

>> lloyd blankfein is one of the industry's most successful ceos, navigated them through the financial crisis. one of the best performances. a sharp wit. in addition, he is a social progressive. he has been a leader on a variety of social issues. goldman sachs has a deep bench strength. they should do fine. our thoughts likewise are with the ceo of goldman sachs. >> no doubt. thank you so much. mike mayo live for us today outside the shareholder meeting for bank of america charlotte, north carolina. >> i would say the one thing that mike still has a sell rating on this, the one encouraging thing i -- >> you're an owner of the stock? is. >> i am. i think other people at the desk very much like the stock are. when you look at the earnings growth and the margin growth and you look at all of the different executions that they've been able to accomplish so far, i think looking forward this is a stock that has 20 on it long before we see anything close to 14 or 13 a share sfwlooshdy say it was a busy news day? we have another big interview coming up. gopro shares down more than 30% in the pa

. >>> goldman sachs ceo lloyd blankfein. >>> and another turbulent week on wall street.e digits to start the morning. more about that when we come back. when broker chris hill stays at laquinta and fires up free wi-fi, with a network that's now up to 5 times faster than before you know what he can do? let's see if he's ready. he can swim with the sharks! book your next stay at lq.com! (vo) wit runs on optimism.un on? it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world. so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep it all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and you

blankfein, chief executive, do not raise rates. robert: i don't think anybody has an idea, less alone the fed whether they should raise rates are not. going into this meeting, and there is ambiguity amongst participants as well as in the marketplace, what is also important it is not only the rate hike or not, but also the message -- is it going to be a hawkish or dovish forecast? pimm: someone must be calling you and say, what do think they're going to do? i need to position the portfolio. robert: one thing we have been toking at is for the fed say, not this time but maybe in december which is the risk for another government shutdown. in 2013, ben bernanke decided not to take it in december but because of the risk of a government shutdown. pimm: is that going to happen tomorrow? robert: i think it is the risk and they will take that into consideration because the friction in congress has escalated the last weeks, meaning they may have the continuing evolution of maybe two months which will coincide with the next time that the debt

earlier today, the ceo lloyd blankfein announced he haslem foema, an illness his doctors say is a highlyurable form of the disease. he underwent a series of tests after not feeling well this summer. and had a biopsy last week, which revealed the cancer. >>> still ahead, with all those health insurance mergers, will it hurt consumers? what industry executives said today under oath. health care deductibles are rising as wages barely budge. that's the conclusion of a new study by the kaiser family foundation. a health policy research group. since 2010, deductibles have risen more than six times faster than workers' earnings and almost three times as fast as premiums during that same time. >> for that report on health care deductibles comes as the chief executives of etna anthem defend their proposed merge in other words front of a senate panel. some lawmakers are concerned consolidation among some of the nation's biggest carriers will result in higher coverage costs. bertha coombs reports from the capitol hill. >> reporter: >> reporter: the big question for senators will, health insurance c

and the first lady and president will meet him when he arrives. >>> the company says blankfein has alymphoma and he plans to work substanshally as normal. and peanut executive has been sentenced to 28 years in prison for his role in a deadly salmonella outbreak. they knowingly shipped the tainted peanuts to customers. >>> researchers say they have uncovered a new species of plant eating dinosaur. they found it in rock deposited some 69,000,000 years ago. >> and duck bill dinosaur. >>> mean while, we're keeping our eye on volkswagen. and the department of skbrujust reportedly starting a criminal probe, this as the ceo announces they quote screwed up. >>> and we expect to hear from the ceo of volkswagen within the next half hour. and unclear exactly what he will say but he is certainly front and center as this scandal continues to grow. there's a journal newspaper out with a report that says his contract, which is coming up on thursday, and will not be picked up. we expect to hear from dr. winterkorn within the next half hour. and 11 million engines world wide impacted in some fashion.

lloyd blankfein said the handling of the market rout was awfully messy. the china beijing book described a mix, rather than a disastrous picture of the chinese economy and says global sentiment on china has veered too bearish. perceptions may be more thoroughly diverse -- divorced from facts on the ground than any time in the last five years. the survey points to a rebound in capital spending and strength in the services sector that contrasts with deepening skepticism from abroad on the economy and authorities' ability to steer appropriate policy. bloomberg sat down with the chinese state counselor. he said the stock market rout does not affect the health of the economy. >> china is not free from its own set of challenges and problems on the economic front. of course, there have been some ups and downs in the stock exchange market, but given givens economic china's economic development, given the fact that china is a developing country, some movement on the stock exchange equal thehould not whole picture of the chinese economy. stephen: no skepticism. bac

lloyd blankfein says that resist hiking prematurely, but get it over with he's saying and your guestwell. this isn't about tightening, this is about not easing as much. >> a quarter point wouldn't be tight. >> wait until we get into the budget battle. just put that on top of it and they started talking debt closing and everything else. >> and do you blame this sluggishness on the international story or just the u.s.? >> i think that people don't realize how deep it was and housing took slower than normal to come by and we're also on a technological revolution, it's not the brick and mortar job. >> i'll be hosting a special report and announcing the fed decision along with lou dobbs and stuart varney. i hope you'll see us for that. stu, i'll see you at 1:00. stuart: yes, you will. the interest rate, what grabs your attention as a viewer? no question in my mind, good morning, everyone, the debate. cnn blew it and tried to turn into a fight night and turned a lot of people off. donald trump's bombast wore thin and carly fiorina nailed it. the fed and interest rate, i know it's important

i do not think trump will ever try to win over people like lloyd blankfein.le to, he is never going to try. scarlet: probably counting on the fact that they will have to adopt to him more likely. what about carly fiorina? she did very well but most accounts. hearare you looking to from her in order to have resonance among ewers and potential voters? and potentialrs voters? >> she has been in a public bath with donald trump. maybe the only candidate who is not been hurt by donald trump. the comments about her looks. she said something like donald trump will hear a lot from me tonight. the question number two, ken carly fiorina not only take on trumpet in a direct way but resent a contrast yet so she is someone who was never served in public office. can she be a more credible version of donald trump? scarlet: tune in tonight at 5:00 eastern for " with all due respect" posting a one-hour special covering the debate. ♪ sure, tv has evolved over the years. it's gotten squarer. brighter. bigger. it's gotten thinner. even curvier. but what's next? for all binge watc

goldman sachs is ceo lloyd blank ane -- lloyd blankfein has warm of them phone a and he says it is --im on a ' is 61 years old and has been ceo since 2000 x. -- 2006. his trip to cuba by visiting the shrine of the patrons think. -- patron sain. he wants to overcome ideological misperceptions and establish change. u.s. diplomatic relations improved this year after pope francis helped broker. china's president is starting his visit today, in advance, xi jinping told the washington journal his country will change and evolve despite the slowdown. his visit concludes friday with a state inner at the white house during the obama administration is at odds with china over cyber spying tactics as well as human rights. a government audit reveals an interesting detail about the troubled startup of the federal health care website. the main contractor was paid $4 million to fix its own mistakes. the contract allowed the country -- company to pass on to taxpayers and tack on a profit. scott walker is urgent republican presidential candidates to unite against a common foe, donald trump. the wisconsi

this after lloyd blankfein said at a "wall street journal" breakfast he does not think the u.s.conomy can bear an increase right now. goldman sachs message carries a lot of weight. we are watching beer this morning. it is not too early. it would bring together the world to biggest beer makers and control half of the industry's profits. the shares of both gaining big. sab miller trading up in london. anheuser-busch trading here. let's look at the top headlines. u.s. consumer prices are down for the first time in seven months thanks mostly to lower gasoline. the government reports the consumer price index fell in august about 1/10 of 1%. that reverses a slight increase in july. gas prices fell more than 4%. not counting food and energy prices, core inflation rose modestly last month. also 1/10 of 1%. the consumer price report will be the last piece of the data puzzle for policymakers deciding if interest rates should rise. this is the first of a two-day meeting leading to an announcement on rates tomorrow. the inflation rate will be a key component in the decision and is running w

lloyd blankfein saying he has a very curable form of lymphoma and plans to work as normal while undergoingtherapy here in new york. now joins a list of other executives who battled deadly diseases while still serving as the top executive. what does this say about corporate governance? fox senior business correspondent charlie gasparino speaking to people at goldman and elsewhere. >> we should point out is that personally, wish lloyd speedy recovery. liz: absolutely. >> the press release said he's going to be fine, it's a curable form of cancer that he has lymphoma and going to stay on the job while he does this. let's get that out of the way. i take my the shos at him from a business standpoint. he's a nice guy. liz: delightful, actually. he's a nice guy. >> you think he's something else, when you sit with him, he's a nice guy. liz: he grew up humble, worked at yankee stadium growing up. >> we like privilege here, too. there's a right way to do what goldman did today and a wrong way. goldman did it the right way, and we should point out when ceos get sick, that is a material event it. impa

mark: lloyd blankfein says he he says it is highly curable.ceo since 2006. brian moynihan comes out on top in a power struggle at bank of america. will remain the chairman and ceo. some shareholders of the board overstepped its powers when they meet him chairman last year. that is able to the top stories we're following at this hour. president hasna's touched down in seattle, washington. he will meet with tech and business leaders. chinese cyber espionage and chinese trade barriers are two topic slightly too, -- likely to come out. pimm: darden restaurants have increased lunch items and takeout items we will give you details on their earnings report. mark: scott walker dropped his bid to become president. which republican candidates stand to gain ground as he spends his deficit spends his campaign. ♪ pimm: this is the bloomberg market day, i am pimm fox. you for staying with us. chinese president has landed in seattle wash 10. it is the first stop on his three-day state visit. he is meeting with ceos and some of the biggest companies, includin

who didn't know him from adam, were weeping and that, you know, you wouldn't see that for lloyd blankfein>> [ laughter ] well, fair. >> so i thought what is this about that? and it was that investigation that i thought was worth doing. not a kind of cradle-to-grave biography of steve jobs but a sort of -- a look at what he means to us all. >> so what -- and what did you find? what does he mean to us? >> i think one of the interesting thing about jobs is that he was the guy, the personification of the idea that your computer can be more than a tool. it can be an extension of you. he called it the bicycle of the mine. and because he so singularly cast himself in the role as apple and wrote that role very well and performed it very well we grew up with him, with these devices kind of charting that progress. so he is our guy to this world where the computer is an extension of us. >> the -- what comes across in the film which, by the way, is excellent, and it's a gripping piece of visual story telling, there's archival footage and one of the advantages of making this movie is this is a guy tha

blank fine i -- with lloyd blankfein ill with cancer and many are saying it is a wonderfully curableexcellence of goldman sachs, but is it your presumption that there will be a debate about who is after lloyd blankfein? or is it a more rigid firm? debate there is always a around a transition such as this. i think that gary cohen has such great support from within the company that i think it would be a very easy transition and a very logical one. that is the one i would place heavy yards under. -- heavy odds under. hopefully, lloyd will be tcu red and his management has steered the company through difficult times, but i think gary would be the odds on favorite to succeed him. tom: we have headlines quickly right now from mr. dimon over at j.p. morgan. he is a macro economist. jamie dimon talking about the economic prospects are extraordinary in the u.s. have aank executive feeling for the american economy? arthur: yes. yes. a bank executive certainly can have a feeling for the american economy. enoughs brought-gauged -- broad-engaged enough to talk about the economy more than many eco

lloyd blankfein saying that there response was awfully sloppy. york-based survey and it is a little bit backwards looking into the third quarter, but it paints a more rosy picture that the pessimism out there right now. the economy is not as weak as it looks according to the third quarter beige book. nigh, meeting not imminent. the services sector showed strength. we shouldn't just believe the rosy portrait painted by chinese state media, but at the same time, it is not as bad as it seems. that perception may be more thoroughly divorced from facts on the ground then at any time that this has been in existence. in his estimation it has been to bearish. angie: i wonder if the fomc is paying attention to that report. >> they already made their decision. once morgan faulk -- once more consolidation. >> there are a lot of zombie companies in this has been a push in 2013. it was a priority also in the mid-report this year. basically need to be more mergers, increase efficiency. he wants to dispose of zombie companies and those suffering long-term losse

we saw lloyd blankfein standing up saying he thinks on the basis of u.s.im. is there a beer here? hold on. michael is with us from bloomberg radio. i learned that blue moon is not a craft beer. yes.el: tom: blankfein is not an economist. ,. >> you got to wonder if the fed wishes it had never started talking so much. tom: we will talk to eli manning to get his view on the fed. that was brilliant. tracy with bloomberg markets. leader of 36 points. , 21.82. tom: good morning everyone. a modest debate tonight. no doubt different of what we saw at fox tv. cnn doing it tonight. vonnie: what you are referring to is the republican presidential candidates gathering in cb valley -- simi valley. still, it's a very different debate. it's more of a head to head debate in the first one. how will that impact the front runner, trump and carson? >> what they are trying to do, unlike fox, is 10 a candidate against one another. ben carson and donald trump who represent the same type of politician but are totally different types of people. it will be very interesting if they

neil: lloyd blankfein announced a form of lymphoma. if there's such a thing as a good kind of cancer this particular lymph node is highly curable, expects to make a full recovery and will continue in his operations as he goes through treatment, we have not heard details but he will be okay. scott walker says he is finished, but remember, that is exactly what they said of joe biden when he got 100 votes, hillary clinton got 16, 18 million, with joe biden, barack obama's running mate and vice president of the unaided states, doesn't necessarily strike twice but walter mondale too, the fact of the matter is he quit the race early and end ed up being jimmy carter's running a so it can happen but i am thinking wisconsin, been there done that. >> right. walker brings an impressive resume to the table as governor of wisconsin, helped move the state from a budget deficit out of that deficit without raising taxes. this is the kind of leadership we need in washington d.c. and helped washington become a right to work state so he didn't just go to

do you agree with lloyd blankfein when he talks about how the response has been clumsy?say that when for the first, time committed to market valuation of its currency, that was an important step. between 2005 and the start of the crisis, the currency appreciated 25%. it when sideways during the crisis. i think the statements that have been coming out of both people's bank, and now the leadership, would suggest to me that they are paying close attention, perhaps too much attention, to a rate that should be set in open in a competitive market. they have agreed with long-term interest and if there is a difference it is the pace at which they will move to the market valuation. guy: you are a former ambassador to germany. what do you make of germany's role and angela merkel's leadership of the current migration crisis? robert: i think germany is moving to a position of trying to become comfortable with its new leadership role in europe. even the word of is a tough, historical word in germany. i think this merkel is trying -- i think mrs. merkel is trying to find the right way

we have goldman sachs ceo lloyd blankfein revealing he has lymphoma, calling his cancer quote, highlyotherapy treatments throughout the coming months. we wish him the best. >>> now to a story from wall street that has the attention of a lot of people on main street today. a drug company boss who raised the price of a life-saving medication by 5,000%. it's called dereprim. the pill fighting deadly infections like malaria. the cost went from $13.50 a tablet to a whopping $750. here's the kicker. the young ceo is defending this price hike. >> this is the more appropriate price. at this price, it is still actually on the low end of what orphan drugs cost and we are certainly not the first company to raise drug prices. >> meg, you had an opportunity to speak with this ceo who is defending this price hike, going up by 5,000%. what kind of reaction is the market giving to this, but also, what's his defense of doing it? >> well, so the market reacted pretty strongly yesterday. this sort of exploded over the weekend in the "new york times" and "usa today" and then hillary clinton tweeted yeste

explain to me where they are and lloyd blankfein are. why should they do nothing? of today's meeting is yellen's hunt for a not so read october. october. red in july, the fed was concerned about a slowdown in china, and a lack of inflation pressures. that was before the recent fireworks interrup -- fireworks erupted. they're going to pause and air on the side of caution. tom: in 2006, there's nothing in my text books like this. >> the expectations of a hike are 32%. is the fed paying attention to the actual expectation this morning because it does not want to cause a surprise? they are sensitive to market conditions. janet yellen wants the first hike to be well telegraphed and to be a nonevent in the market. that would not be the case today. >> is it a good thing that that the conditions fed is for it or bad that the fed is concerned? mr. riccadonna: if we look at the economy, it has been flat on its back with pneumonia since the financial crisis. we have been improving, but we sneezed in august. the fed wants to be cautious to make sure the fed is not a relapse. r

lloyd blankfein, goldman sachs.is is different for bank of america and why they need to specifically keep this separate? >> bank of america has the worst stock performance among biggest banks. the management team has no time frame for any financial target. if you look at the four largest banks, two have the position separate and two have them combined. so, citigroup and bank of america have the worst returns. jpmorgan and wells fargo have good positions and they're combined. if board of bank of america has bad oversight, which we think they do, you should not take actions to reduce that oversight. >> do you think it's fair to say so far as a turn-around goes, we know brian moynihan was inher inheriting a very troubled company when you came on board in 2009. do you think the progress in turn-around is closer to citigroup than closer to a jpmorgan or goldman sachs? >> absolutely. their earnings -- >> mike, mike, is your problem here with mobrian moynihan or t guy getting two jobs? should he go? >> the problem is the b

. >> lloyd blankfein's is different than -- >> why are we playing this?he does it in the afternoon -- how do you know that? >> that's not what i'm referring to. >> let's leave it at that. >> andrew, do you follow him around? >> no, i'm suggesting -- no. some people would be delighted. >> he goes for dairy queen in the afternoon. >> some people will be delighted this afternoon, others won't. >> all right, welcome back to "squawk box," along with the -- no. the first in business worldwide, i the count down almost over, at 2:00 p.m., we learn whether the fed raises interest rates. no one wants them to rush, though, nine years. nine years. you know, just got to think about this because i mean, 25 basis points from 0, think about it, think about it. steve liesman is joining us later this hour, and special coverage of the fed's decision gives at 1:00 p.m. eastern on cnbc. when do they come on and breathlessly say it? exactly 2:00 p.m.? it's just at 2:00 p.m.? >> well, they probably get the -- >> assuming the embargo is not broken. >> and what they say afterward