stay tuned for chris whalen on jpmorgan. from new york city this morning, this is "bloomberg surveillance." ♪ >> good morning, everyone. "bloomberg surveillance." i am tom keene. olivia sterns and written in greeley. futures improves -6. they were worse an hour and a half ago. >> bloomberg's francine lacqua spoke with pershing's bill ackman, taking his victory lap it seems over to europe. he talked about anything from tesla to market volatility. francine, what is your top takeaway? >> olivia, we talked about the environment after the great 2014 he had. in 2015, will he be able to replicate these trend we saw? he says it is difficult to predict, the environment is right to do some great deals. we asked about volatility for stop some investors a it is difficult to sift through volatility. he said that is actually a bonus. >> i do think it is a favorable environment for what we do. >> despite the volatility? >> volatility is a good thing. if you are a long-term investor and you do not have margin leverage, then volatility is a

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morgan stanley talking about expense reduction, chris whalen talks about asset shedding, the kind ofs you do and i don't want to get into the lazard business relationships, but in 2015, to receipt expense reduction or do we see -- do we see a expense reduction or making to downsize? >> yes. uni when we have spoken in the past few years ago, i use the term, a darwinian exercise. what is fascinating is how slowly it is going. it seems obvious with the regulators increasing the capital requirements, with the burden of regulation, with the charges particularly for systemic important institutions, a lot of these banks ought to cut back lines of business -- number of executives say to me well, i'm in better shape than others are, they will leave the business first. and when they leave there will be a concentration of power and we will get our profitability back. that is why i use darwinian. >> the executive pushing the board aside and saying, we're comfortable with the present state. where is carl icahn to tell us to do something? >> somewhere along the way, or even some of the global inve

we'll talk to chris whalen not only about expense reduction, francine, but the idea of shedding businessesallenging time for the too big to fail banks. >> certainly is. that's in 25 minutes from now. autopsy up ahead -- will a victory mean troubled waters for groce's shipping industry? we're going to talk to a shipping magnate and get his perspective on the eurozone. looking forward to that conversation. ♪ >> welcome back to "the pulse" live from london on bloomberg tv. we had a couple of headlines, of course, from greece this morning. we're just 10 days away from the greece election. >> the prime minister is in athens this morning. he's been meeting with his current number, which is mr. samaras. we are approaching elections very, very shortly. we've been hearing from mr. samaras this morning saying greece shouldn't ask for more bailout loans, but some sort of agreement is going to be required, vis-a-vis the debt this country currently holds. >> yeah, the million dollar question. it comes january 26. the greece shipping industry could be affected by the outcome of the looming greek electio

governor chris christie took some heat yesterday when he failed to mention the transportation trust fund in his state of the state address. >>> a health scare for new jersey state senator jim whalen. the atlantic city governor is hospitalized. he said he feels fine but will be in the hospital a few more days for observation. >>> new jersey governor chris christie is paying a visit to the first southern state to vote in next year's republican presidential primary. governor christie traveled to south carolina where governor nikki haley's seconds inauguration. christie campaigned for haley's campaign last fall. and also attending a reception in that state. he'll attempt to woo south carolina voters at a meet and greet with the state's republican party. christie's state of the state address yesterday had many themes that well could be a precursor for a national campaign but the governor stated he would be back for next year's address. >> pennsylvania's republican party is lashing out against governor-elect tom wolf's selection for cabinet members. they said tom wolf promised to bring a fresh perspective but instead he's chosen to surround himself with as many former appointees of ed