bob rubin and steve friedman followed and they also shared leadership of the firm.here is a long-standing tradition for this. it would be unusual if it happened again. shery: the journal is saying he is 63 and goldman isn't looking young the two copresidents to replace him, which does it necessarily make it will be a double appointment. max: hearing that reminds me that it is an important job and influential -- there hasn't been that many chief executive officers and goldman sachs and they have been around for more than a century. this is a gross overgeneralization, but in my head, matt knows more than this -- there is a few ways set in history to lead goldman sachs. i think gus leavy literally died at his desk. [laughter] like likehear that find is a want to give. >> i do not plan to die at my desk. onnie: he wasn't running leaving -- but these things change, and ceos, as we heard earlier, say things that they don't necessarily have to stick to. max: i am glad you have that clipped to the for my thoughts. not open touple are lloyd blankfein, bob rubin, he left to j

. >> you call this to bob rubin trade. the bob rubin trade is after a person -- the former treasure terry -- treasury secretary. thats selling things explode -- and what happens as -- andk was insolvent then, someone said, "black swan". >> so he was not alone. you use him as an example because he is emblematic of that problem. nassim: exactly, he thinks society owes some profits. >> wisest wall street has what you claim to be a misconception or misattribution about the notion of skin in the game? nassim: they don't understand three things. number one, it is not just incentives, disincentives are there for a reason. since the beginning of time and civilization, we have had rules that don't allow the architect and walk a structure away if it collapses and kills people. babylon.n nassim: exactly, and skin in the game is a filter mechanism. they are likely to die in the accident, and if you had a bad driver, not likely to die in an accident and not be penalized -- >> how do we make the financial system more darwinian? nassim:

the job of bringing together disparate viewpoints and presenting them to the president, the way bob rubinnd bill clinton envisioned it in 1993. >> that's correct. larry kudlow has his own views on things and he'll be pleased to let you know what they are. >> disparate viewpoints are not what this president wants. >> we like disparate viewpoints here. thanks for being with us. follow us onlin online @mitchellreports. craig melvin, take it away. >> andrea, thank you, great to see you there. >>> good afternoon, i'm craig melvin at msnbc headquarters in new york. we'll get to the student protests happening this hour, but we'll start with the breaking news. larry kudlow, economic analyst, tv personality, according to reports is going to be named as the director of the national economic council. stephanie ruhle covers business for us here in addition to hosting the 9:00 hour, the 11:00 hour, the saturday show as well. what do we know besides those two things about larry kudlow? >> i mean, larry kudlow is not a surprising pick. he was part of sort of team trump during the campaign. so he's known

a history that goes back to 1993, set up under president clinton, first a director was bob rubin.il, to convene a diversity of view, honest debate as a broker. to make sure strategy is heard on all sides of the argument. it should not be a platform for political advocacy. succeedingly, under administrations, politics have dominated the debates. supply-siderrdent in, who is an advocate of the trump view, does not allow the debate to be aired as openly and frankly as the needs to be. the president says, and your form and take -- and your former commentator said, they like debate. if they like debate, they are stacking the deck. there is no debate in the white house now. the president's intuition is what roles. the nec is it supposed to be an intellectual check on that intuition, and that does not appear to be -- >> professor, should the nec incoming director be talking about dollar strength or weakness? >> no, the view of the dollar is predominantly something that is expressed by the french -- by the treasury secretary. i realize that the first time he was asked to comment on the do

stephen: they have a history that goes back to 1993 set up under president clinton, first director was bob rubin the "c." it is the council. airedertain strategy is on all sides of the argument. it should not be a platform for political advocacy. unfortunately under succeeding administrations, the politics have dominated the debate and that is never more so the case than right now. bringing an ardent supply-sider in that is purely an advocate for the trump view does not allow the debate to be aired as openly and as frankly as it needs to be. the president says and your former commentator kevin just said they like debate. if they like debate, they are stacking the deck. there no debate in the white house right now. the president's intuition is ist rules and the nec supposed to be an intellectual check on that intuition and that does not appear to be the case. tom: francine? francine: should the nec incoming director be talking about dollar strength or weakness? stephen: no. the view of the dollar is predominately, francine, something expressed by the treasury secretary and just let the treasury s

>>the nec has a history that goes back to 1993 set up under firstent clinton, director was bob rubin.. it is supposed to convene a diversity of views, foster the debate, make certain that strategy is aired on all sides of the argument. it should not be a platform for political advocacy. under succeeding administrations, the politics have dominated the debate. it is never more so the case than right now. ringing an artist supply sider in who is an advocate for the allow thedoes not debate to be aired as openly and is frankly as it needs to be. the president says, they like debate. if they like debate, they are stacking the deck. there is no debate in the white house right now. the president's intuition is what rules. be anc is supposed to intellectual check on that intuition. that does not appear to be the case. should the nec and coming director be talking about dollar strength or weakness? >> the view of the dollar is predominantly something that is expressed by the treasury secretary. let the treasury secretary say it. i realize that the first time he was asked to comment on the dol