david rubenstein is with us, ceo of the private equity powerhouse the carlyle group.hat is a good place to start don't you think? >> without a doubt. and oil war, opec versus the show producers in the u.s. >> you'll be hearing from him in just moments. here's a question for you -- how come fixed income trading has fallen off the cliff? a lot of bankers are at fema question and they are worried about liquidity. the ceo of bank of america, brian moynihan will be along later in the show, and we will be putting that question to him. >> erik, my friend, this is the super bowl of business tv. welcome to "market makers." i am stephanie ruhle. >> and i am erik schatzker. we live from the world economic forum in the beautiful alpine setting of doubles, switzerland. >> as beautiful as it is here come it is time to talk about the huge plunge in crude oil. the selloff really took hold in november when opec refused to prop up prices by increasing production. they want a price war with u.s. show producers and bloomberg's francine lacqua if any by with the opec secretary-general. >>

i do not suggest buying carlyle. paul in california paul?sunny sacramento california. >> right where i live. >> caller: from where you used to stay back in the day. >> you bet i did. >> caller: i'm calling about a gm marine petro. thestreet.com recently initiated coverage with a buy rating and a $15 target price but the report didn't mention a and w recently entered the long beach and los angeles courts and the caribbean market by assuming some assets that are now bankrupt competitors. i think that coupled with the drop in oil could drive it higher than 15 jim, do you like this stock? >> i'm not cryazy about it. the street i work at the street but i do not control that part of the operation. the stock is fully vetted. i'm not a buyer of this stock. cale vain in new jersey calvin. >> caller: hey jim, first i would like to say good job on giving stuart scott a shoutout a couple days ago. >> thank you. >> caller: second, this company and this stock, the other side of the pillow or a boo-yah home run blox. >> no, they have missed a quarter badly

. >> eyes wide open at the cafe carlyle in new york. he will there be until january 24th.ur final story of the day. james taylor perform "you've got a friend" in paris. he was invited by u.s. secretary of state john kerry. as a show of solidarity. ♪ you got a friend donne ami el a ♪ >> early june, 1967. the six-day war in the middle east between israel, egypt jordan and syria is underway. steeples into the mediterranean to eavesdrop. it is in the waters off the

supreme court justice stephen breyer is entered by the cofounder of the carlyle group about the importance of the magna carta on its 800 anniversary. they also discussed the document's influence on american law. the men spoke at the library of congress where a 13th century copy of the magna carta is on display. king john originally signed the document under pressure from his barons in england. american revolutionaries looked to the rights guaranteed by the magna carta as they rebelled against the british crown. this is 40 minutes. [applause] >> justice breyer, thank you very much for taking the time -- >> thank you. >> to do this. we're going to talk about the magna carta, but before we do so, i'd like to talk about a few other things because we rarely get a chance to interview a justice of the supreme court. since i rarely get this opportunity, let me take advantage of it now and say that when you grew up, you grew up in california and went to stanford and harvard law school, but did you always intend to be a law professor and then want to be a judge? how did that come about -- to be a ju

. >>> we have breaking news right now, chopper 6 hd live over the scene in south philadelphia at carlyle ritner where police are on the scene after a shooting at this intersection police were called out amid reports of shots fired they got there and found a man in his 20s on the ground with what are reported to be multiple gunshot wounds to his back, is he transported to hup, is he in critical condition at this time. they are seeking a full sized dark collared suv and no word on a motive but we'll keep you updated on this breaking story a shooting in south philadelphia. are er >>> adam joseph is here now. >> sometimes it's nasty in the morning when you get the transition from snow to rain and a windy day with a lot of precipitation but the majority of the precipitation type will be liquid and not frozen, good news if you don't want your weekend ruined. looking at double scan live radar, all is clean and a few breaks of sun late this afternoon and it pushed the temperatures to the average. 40 in philadelphia and we hit a high of 41 and 37 in allentown and 39 in dover and 29 in the poconos

supreme court justice stephen breyer is entered by the cofounder of the carlyle group about the importance of the magna carta on its 800

. >> assist is nt -- take over for carlyle. >>> the basketball program has a chance to land one of theall recruits in the nation, he plays right here at bishop -- in oakland. >> in the bay area, i think he mentioned jason kidd, leon poe, ivan wrap, you can mention them in the same breath. >> nobody is etching his face into the bay area of mount rush more yet. lou richey isn't enjoying his final year. >> i want to be invested in the country. >> according to experts he is the fifth ranked high school prospect in the entire nation. but it's hard to imagine four other 17-year-olds who are much better. >> when his name started to climbing up in the rangings, i -- ranking i said when somebody asks you how important is it, one person's opinion you don't -- the best husband. you don't let something some website say you're the best father why do you do it about basketball? >> ever since the first scrimmage, been the buffer between his star players and dozens of schools who want him in egs year. cal, arizona ucla, kentucky and kansas. >> crazy. text messages, missed phone calls, answered phone c

following a plea bargain, travis payea, jonathan cockerill and james carlyle all plead no contest to attempted kidnapping and felony assault. and christina lumm pleads no contest to attempted felony assault. they are sentenced to the time they've already served in jail, about 60 days plus probation. travis payea gets the toughest sentence, three years probation. but just two months before it was to end, in april 2006, payea is found dead at a friend's house. he was 24. his family never reveals the cause of his death. >>> coming up -- >> [ bleep ]! >> do you have a street address for me? >> oh, crap. dude, i'm so scared. these kids, i don't know why they're doing this to me. >> we saw people being stomped, people being hit with hammers. >> [ bleep ]! >> people being kicked in the head. it was horrific. >> when "caught on camera: teens gone wild" continues. ht! bam! just gotta check your bag. huh, charmin ultra strong. you're cleaner than i thought. charmin ultra strong cleans so much better it meets even his highest standards of clean. with a soft duraclean texture, charmin ultra stro

i believe this because carlyle is right no lie can live forever.lieve we shall overcome because bryant is right third will rise again. i believe we shall overcome because lowell is right, truth forever the scaffold, forever wrong on the throne. yet that scaffold sways the future and behind the unknown standeth god within the shadows keeping watch above his own. with this faith, we will be able to adjourn the councils of despair and bring to the dark chambers of pessimism. with this faith, we will be able to transform this pending cosmic elegy into a creative psalm of peace and brotherhood with this faith, we will be able to speed up the day when all of god's children, black men and white men, jews and gentiles, protestants and catholics hindus and muslims will be able to join hands and sing in the words of the old negro spiritual, free at last, free at last, thank god almighty, we are free at last. we have a long, long way to go before this problem is solved. thank god, we have made strides. we have, long, long way. before i close by coding the wor

. >> opec secretary-general carlyle's david rubenstein steve schwarzman, and harvard resident drew fauste. stay with us. you are watching bloomberg television. ♪ >> welcome back to "market makers." as we look at the week we just had, asked income trading across the board is down. at the beginning of the show we were here talking about are we going to see a follow, all were going to see these banks and other businesses? it is too premature to say that but already we are breaking the deutsche bank has let go of their credit sales force in chicago and san francisco. six people. that is basically your entire sales force in those regions. if you think about it, there are a lot of customers out there but banks have to make a shift in be nimble. when you have your fixed income businesses, especially credit which is an expensive business to be in down for all of these quarters, you have to do something about it. >> what do guys that are left go -- let go to do? >> they try to go places like lazard and jefferies. if you're going to go to a boutique firm, you have to be a rainmaker. you cannot be

some of those people we need to take a look light are the carlyle investment group or george bush is josh -- george bush's brother. caller:guest: there are a lot of people getting rich off the testing mania. i have no idea that they started it, but there are business opportunists. the one thing we know when you are going to sell somebody something, if you can generate fear, they will buy. what i have heard all over the country are those administrators and school boards who are terrified that they will be unfairly labeled failure because they are teaching communities that have so many needs. they are communities in poverty. if we can't get these test scores for our quota, we will be labeled failure and the kids will be labeled favor. -- failure. the salesman will swoop in and say here is the test prep. they are selling these bundled packages to districts that don't have any money. we are going to train your teachers and train your kids to be great test gets her's. host: no child left behind was a bush administration thing, why not take ownership of a different way of doing things? gue