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Feb 25, 2025
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scarlet: brian moynihan the ceo of bank of america speaking with david rubenstein.terms of where we are standing with financial markets, bank of america with 20 out of 24 members of the kbw bank index lower in the s&p 500 down .4%. the magnificent seven that i did not include on the board is in correction mode done more than 10% since its record high september 17. all of this before nvidia reports earnings tomorrow after the close. i'm scarlet fu. that is it for this edition of bloomberg markets. balance of power is next with joe mathieu and kailey leinz. the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways. >> from the world of politics, to the world of business, this is balance of power. live from washington, d.c.. joe: prove it
scarlet: brian moynihan the ceo of bank of america speaking with david rubenstein.terms of where we are standing with financial markets, bank of america with 20 out of 24 members of the kbw bank index lower in the s&p 500 down .4%. the magnificent seven that i did not include on the board is in correction mode done more than 10% since its record high september 17. all of this before nvidia reports earnings tomorrow after the close. i'm scarlet fu. that is it for this edition of bloomberg...
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Feb 13, 2025
02/25
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maria: meanwhile, fox business confirmed that jp morgan ceo jamie dimon and brian moynihan will be among the major bank ceos on capitol hill today, they're doing a round table discussion with the senate banging committee on how to pre voarprevent debanking. i spoke with tim scott this week on how banks and regulators are being weaponized. watch this. >> that's what i heard from the ceos. the ceos of the bank said this to me to my face, eye to eye, that the occ and regulators were going to create a reputational risk, whatever that means, against banks who did the things like banking illegal businesses, like banking crypto. melania trump, the first lady of our country, was debanked. how is that possible in the freest land in the world? fdic just recently released a trove of documents reinforcing the fact, yes, regulators have been weaponized. maria: yeah, and you know, a lot of people speculated that this was happening that some of the major banks were debanking conservatives for example and it was all politics. i was stunned when melania trump first told me she was debanked. here she is w
maria: meanwhile, fox business confirmed that jp morgan ceo jamie dimon and brian moynihan will be among the major bank ceos on capitol hill today, they're doing a round table discussion with the senate banging committee on how to pre voarprevent debanking. i spoke with tim scott this week on how banks and regulators are being weaponized. watch this. >> that's what i heard from the ceos. the ceos of the bank said this to me to my face, eye to eye, that the occ and regulators were going to...
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Feb 12, 2025
02/25
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i am here with brian moynihan, the chairman and ceo of bank of america. or being here from your financial services conference. rates in focus this morning. chair powell is on the hill. we got the cpi number this morning. how does that change your assessment of where rates go from here and what that means for everything from loan demand to investment banking activity. >> so let's let's. >> talk about a couple of different things. one is our research team. candace browning is very strong. research team was the reason why we're here. >> they had. >> taken all. rate cuts. >> off the. >> table in their research. >> the market. >> had. >> one still left in. they had zero. >> and it. >> was. >> because they thought that the dynamics of the. >> inflationary effect and the potential. >> inflationary effect. >> would cause the fed. >> to hold back. >> and those rates. are restrictive. >> but there. >> was not. >> enough sort of inflation. progress can be made, and inflation was going to stay in the high twos through 25 and 26. and ultimately they would start cutting
i am here with brian moynihan, the chairman and ceo of bank of america. or being here from your financial services conference. rates in focus this morning. chair powell is on the hill. we got the cpi number this morning. how does that change your assessment of where rates go from here and what that means for everything from loan demand to investment banking activity. >> so let's let's. >> talk about a couple of different things. one is our research team. candace browning is very...
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. >> what about that senator i mean after president trump called out brian moynihan in davos bank oforgan said we don't do that we don't do debank because of politics, tell us the faction, are major banks debanking conservatives? >> this is un-american un-american to discriminate persecute based on political views you see whether education institutions or financial services the hearings, is designed to get to the bottom of exactly what is happening what are the facts. it is unacceptable we are going to understand the lay of the land in terms of conservatives being percent kooutsdz based on political beliefs services to extent that is happening, clear from my campaign trail, that the people think it is happening in pennsylvania, we need to act that is what banking committee will do we got to get facts first that is what, this hearing is all about. >> we will watch that closely your take on tariffs sir because you are a businessman you understand, the global story but china has been undermining you've states for decades, now claims to be hitting back with retaliatory tariffs beginning
. >> what about that senator i mean after president trump called out brian moynihan in davos bank oforgan said we don't do that we don't do debank because of politics, tell us the faction, are major banks debanking conservatives? >> this is un-american un-american to discriminate persecute based on political views you see whether education institutions or financial services the hearings, is designed to get to the bottom of exactly what is happening what are the facts. it is...
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Feb 13, 2025
02/25
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nikkei average in the korea and accept better than 1% fox business has learned jamie dimon and brian moynihan will be among the big bank ceos on capitol hill for roundtable on preventing the banking over politics. we are on it, joining the conversation strategic while partner mark tepper, pollster and president of lonski and partners leak carter and staff writer caroline downey. "mornings with maria" is live right now. ♪ ♪ ♪. maria: we kick it off with a hot topic of hour president trump putting focus on negotiating peace between russia and ukraine vowing to end the war as part of his campaign. brooke singh met with the latest. >> that's right president trump says russian president putin in ukrainian president zelenskyy want peace after holding separate phone calls with each of them. trump writing this we want to stop the millions of just taken place in the war with russia and ukraine we agreed to work together very closely including visiting each other's nations and follows a prisoner swap between moscow and washington that trump's that could mean better relationships between the countries t
nikkei average in the korea and accept better than 1% fox business has learned jamie dimon and brian moynihan will be among the big bank ceos on capitol hill for roundtable on preventing the banking over politics. we are on it, joining the conversation strategic while partner mark tepper, pollster and president of lonski and partners leak carter and staff writer caroline downey. "mornings with maria" is live right now. ♪ ♪ ♪. maria: we kick it off with a hot topic of hour...
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Feb 14, 2025
02/25
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brian moynihan, 64. but he's not in his 70s.eat my hat if he's not the second oldest. [laughter] liz: turns out, there are more than a dozen fortune 500 ceos and, yes, people in the financial services who are older than larry fink including, well or, we've got everybody from pensky's autos, roger penske, capital one's richard a fairbank, disney's bob iger, and not to to forget, our good friend mario gabelli of the the ga a mco funds. your choice to, balsamic or barbecue sauce. i've got the hat, and i've got the sauce. >> eat the hat. liz: i'm going to make you eat the hat. [laughter] >> eat the hat, eat, eat the hat. they're eating the cogs, they're eating the hats. i couldn't help myself. liz: many older hand larry. [laughter] -- than larry. >> well, i was right about the financial sector, he's the oldest -- liz: no, you weren't. schwartzman -- >> no, big banks. liz: richard a fairbank of capital one and mario gabelli. there are a lot of them. >> i guess 70's the new 60? i feel good being 63 now. liz: okay. [laughter] let's get
brian moynihan, 64. but he's not in his 70s.eat my hat if he's not the second oldest. [laughter] liz: turns out, there are more than a dozen fortune 500 ceos and, yes, people in the financial services who are older than larry fink including, well or, we've got everybody from pensky's autos, roger penske, capital one's richard a fairbank, disney's bob iger, and not to to forget, our good friend mario gabelli of the the ga a mco funds. your choice to, balsamic or barbecue sauce. i've got the hat,...
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Feb 10, 2025
02/25
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unbelievable this is different than what president trump was calling out bank of america ceo brian moynihanlitics and the political backdrop do you say this is something else? >> this was clearly discriminatory against an industry. it's called operation 2.0 because there was 1.0 and that was a program under the obama administration focusing on the series of industries that that administration didn't like. 2.0 was a revamp only targeting in addition to those prior industries a crypto industry. >> white house crypto czar david sachs as his first priority will be stable going legislation he said that on capitol hill last week lawmakers has vowed to pass a bill with the regulatory framework with stable coins with president trump's first 100 days in office what he expected from the regulatory framework there. >> clearly we need stable coins legislation and regulation that effectively allows for stable coins for payment and digital currency like usdc and others allow for companies to operate 24/7 365 and do payments. the banking system as most people are aware operates on banking hours at 90 back
unbelievable this is different than what president trump was calling out bank of america ceo brian moynihanlitics and the political backdrop do you say this is something else? >> this was clearly discriminatory against an industry. it's called operation 2.0 because there was 1.0 and that was a program under the obama administration focusing on the series of industries that that administration didn't like. 2.0 was a revamp only targeting in addition to those prior industries a crypto...
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Feb 25, 2025
02/25
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david rubenstein sitting down with the bank of america ceo of brian moynihan. bloomberg tv. ♪ ♪ (three little birds remix) ♪ ♪♪ [breathing of man through a mask] [woman exhaling] [flames crackling] ♪♪ [water crashing] [scrubbing] [salt falling] [fire crackling] [cheering] [flames roaring] [liquid flowing] [water rushing] [water droplets falling] [water falling] [water running] [wind ruffling] [waves crashing] ♪♪ [seagull screeching] [waves crashing] [frog chirping] [birds chirping] ♪♪ [waves roaring] >> the market is very quick and change a reactor narrative that we are in angle you lock scenario and then, no we are recessionary. >> we have also seen a broadening in terms of earnings growth. >> in terms of the earning story of the united states relative to the rest of the world, is been driven by big tech. >> the tech sector is vulnerable not because they are making money but because their valuations are too high. >> ultimately a good environment for stocks but it will be a little bit more difficult. >> this is bloomberg surveillance with jonathan ferro, lisa a
david rubenstein sitting down with the bank of america ceo of brian moynihan. bloomberg tv. ♪ ♪ (three little birds remix) ♪ ♪♪ [breathing of man through a mask] [woman exhaling] [flames crackling] ♪♪ [water crashing] [scrubbing] [salt falling] [fire crackling] [cheering] [flames roaring] [liquid flowing] [water rushing] [water droplets falling] [water falling] [water running] [wind ruffling] [waves crashing] ♪♪ [seagull screeching] [waves crashing] [frog chirping] [birds...
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Feb 13, 2025
02/25
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out jamie dimon and brian moynihan, the. ceos of jp morgan chase. >> and. >> bank of america.s the. >> cfpb that. >> is making sure that banks are closing. >> fake accounts. >> and keeping open. >> real accounts. >> so i don't really understand. how this is meshing. we do. know that there are a lot of. big tech companies. facebook. >> google. >> they want to. >> get into banking and payments. >> we know. >> that twitter or x has inked a deal to start turning itself into. >> a payments and. banking operation. >> and many. >> people are. >> wondering if that's the reason why, that they want to shut down this agency. >> that has done so much. >> senator warren, elizabeth warren created the cfpb. she's been a huge proponent of it. she's very vocal about it. i want to play her speaking to morning joe on tuesday, talking about the need for the for the agency. >> donald trump ran. >> for. >> office saying he would. >> lower prices. >> for american consumers. he was going to cut costs. he said he would do it on day one. he said right. >> after the. >> election that he was elected. on
out jamie dimon and brian moynihan, the. ceos of jp morgan chase. >> and. >> bank of america.s the. >> cfpb that. >> is making sure that banks are closing. >> fake accounts. >> and keeping open. >> real accounts. >> so i don't really understand. how this is meshing. we do. know that there are a lot of. big tech companies. facebook. >> google. >> they want to. >> get into banking and payments. >> we know. >> that...
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Feb 10, 2025
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i think you've been among those who have asked brian moynihan straight to his face. make of berkshire getting out of your stock? and i think his response, reasonably terse, was like, why don't you ask him? >> yeah, basically berkshire can do what they want essentially. but it's a good question because that is one of the few banks that we're seeing actually an upturn in net interest income predictions for the year. and so they're they're seeing kind of this inflection change. now when rates are higher, that does put pressure on their underwater security. so if you look at market rates right now where the treasury is, that continues to put pressure on some of those securities that they'll never sell those securities. but it's something that the market does seem to pay attention to. >> green for the month, but relative to the gains of the others, it's by far the underperformer. >> yeah. very interesting. coming up, the sector's most at risk of a pullback here according to barclays. and what tariffs have to do with it. we're back in a moment. >> with real time exchange s
i think you've been among those who have asked brian moynihan straight to his face. make of berkshire getting out of your stock? and i think his response, reasonably terse, was like, why don't you ask him? >> yeah, basically berkshire can do what they want essentially. but it's a good question because that is one of the few banks that we're seeing actually an upturn in net interest income predictions for the year. and so they're they're seeing kind of this inflection change. now when...
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Feb 19, 2025
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sounds like to the left, and i mentioned this because president trump specifically called out brian moynihantical ideology? >> yeah, i've. >> seen some of that. sometimes there is a fragmented regulatory environment in the us and some some of the regulators do do things like say. >> well hey. >> i don't want you banking this gun firm or i don't want you banking this cannabis firm. that's another one that's tough. so i think this has been a hot issue, especially for community bankers. and you know, i don't think you want to enforce rules through the regulatory channel. you want if you if you don't like a particular industry, then you should make a law about that. >> but here's the question. my understanding of it is that, you know, to the extent that regulators have told banks either not to bank folks in the in the gun industry or in the cannabis industry, which obviously, i think there was a question about the legality of the cannabis industry to begin with, maybe oil. i think that was less. so i was going to go with i was going to go crypto where i was going to. and but underneath it, at le
sounds like to the left, and i mentioned this because president trump specifically called out brian moynihantical ideology? >> yeah, i've. >> seen some of that. sometimes there is a fragmented regulatory environment in the us and some some of the regulators do do things like say. >> well hey. >> i don't want you banking this gun firm or i don't want you banking this cannabis firm. that's another one that's tough. so i think this has been a hot issue, especially for...
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Feb 4, 2025
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president trump called out bank of america ceo brian moynihan and jpmorgan ceo jamie dimon at the worldng conservatives complain banks are not allowing them to do business. both those companies have denied that they make banking decisions based on politics. but following that exchange, the senate banking committee called for a hearing on so-called d banking that's going to be taking place tomorrow. and joining us right now to talk about it is senate banking committee chairman, senator tim scott. senator, first of all, thank you for being here. second of all, why don't you explain why you're holding these hearings? >> well. >> i actually announced this part of my agenda in late december that there was a need for us to take a. look at the d. >> banking strategies. >> that was used by the biden administration. think about it. this is black history month. i grew up in the deep south. i understand. the unbanked. americans are so often. minorities because there was redlining. back when i was growing up. the good news is today. >> is less. >> about black and white, but unfortunately, today is
president trump called out bank of america ceo brian moynihan and jpmorgan ceo jamie dimon at the worldng conservatives complain banks are not allowing them to do business. both those companies have denied that they make banking decisions based on politics. but following that exchange, the senate banking committee called for a hearing on so-called d banking that's going to be taking place tomorrow. and joining us right now to talk about it is senate banking committee chairman, senator tim...
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Feb 12, 2025
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bank of america chair and ceo brian moynihan will be on squawk on the street live at 9:45 a.m. cnbc exclusive interview. we'll be right back. >> with 19 hotel brands at ihg hotels and resorts, you can guest. >> how you guest. >> unplug for the. >> day or plunge into. >> a long weekend. >> at a holiday inn. savor the moment or savor the details. >> at a crowne plaza hotel. >> stick to the agenda. >> or experience something. unexpected at kimpton hotels. choose from 19 ihg hotel brands choose from 19 ihg hotel brands an power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. power e*trade's easy-to-use tools make complex trading less complicated. custom scans can help you find new trading opportunities, while an earnings tool helps you plan your trades and stay on top of the market. e*trade from morgan stanley. ♪♪ center of. >> every decision. >> our business. >> is. built around being r
bank of america chair and ceo brian moynihan will be on squawk on the street live at 9:45 a.m. cnbc exclusive interview. we'll be right back. >> with 19 hotel brands at ihg hotels and resorts, you can guest. >> how you guest. >> unplug for the. >> day or plunge into. >> a long weekend. >> at a holiday inn. savor the moment or savor the details. >> at a crowne plaza hotel. >> stick to the agenda. >> or experience something. unexpected at...