when the next ceo of citibank or goldman sachs makes a call to the secretary of treasury.you think they take it? do you think they listen carefully? charlie: they do. sen. warren: on every single point that comes up. do you think they take a call from my brother david in an oklahoma? i am guessing no. charlie: i don't think they would take a call from my cousin either. sen. warren: that is part of the point. the question is, what information do you get? what understanding of the world? charlie: they would take a call from ahead of a labor union. yes they would. sen. warren: i think i want to get a couple labor union guys in here to talk about that. charlie: we have seen the president talking to labor union guys. sen. warren: i'm sorry, did you watch negotiations over the tpp? charlie: i did. sen. warren: did you see how actively involved the unions -- charlie: they can be opposed on which -- one issue and supportive on another. sen. warren: the labor unions were not actively considered in large parts of the negotiations. if we are going to do this on tpp, because this real

citibank has invested both the dakota access and keystone xl pipelines which have faced , resistance over concerns the pipelines could contaminate land and drinking water, violate the sovereignty of indigenous nations, and contribute to climate change. these are two indigenous women "fancy dancers," speaking after they danced down the aisles of the shareholder meeting and onto the stage. they went in there and laughed. they told us to get jobs. it i thought as long as people are taking from other earth, i will always have work to do. i will always need to be working. it did not get to me at all. i just danced. i hope they felt what i felt. thank you so much for being here. >> also, there were people in there who clapped for us. amy: and those are some of the headlines. this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman. as president trump prepares to mark 100 days in office, we spend the hour with the world renowned linguist and dissident noamam chomsky. i spoke to him on monday night at the first parish church in cambridge, massachusetts. we talked a

---un joven fue baleado, un auto fue golpeado as como una ventanilla del banco ''citibank'' cercano;tes revisan videos de vigilancia para determinar lo ocurrido. vo/blanca ---la fiscala de san francisco toma medidas para combatir las agresiones sexuales inducidas por las drogas. ---el fiscal del distrito ''george gascon'' anunci medidas para capacitar al personal en los bares de esta ciudad para prevenir la agresin sexual en sus establecimientos, esto debido al reporte de varios incidentes. take sot trt ; 14 secs contvo/blanca ---la fiscala ha decidido trabajar con diferentes corporaciones y la comunidad para proteger a posibles vctimas de abuso sexual. blanca ---una madre hispana enfrenta una orden de deportacin por acompañar a una persona que estaba vinculada a un presunto trfico de drogas. ---pese a ser liberada por la polica, fue detenida por agentes de inmigracin y gabriel huerta nos tiene la historia. take pkg ;1 ;20 ;44 pkg sot claudia rueda, su madre fue detenida "siempre estuve en muchas protestas pero nunca imagine que iba estar en una para mi mama" desde hace varios anos c

jp morgan chase and citibank both posted double digit increases last week. and bank of america,ing, t repo today did even better. one analyst believes it's time to pick individual stocks rather than investing in the entire financial sector, which did get a boost following november's election. >> we're pretty neutral across this space. we thought that expectations about policy, whether it was rate policy or fiscal stimulus or regulatory policy, had just gotten too constructive. and we've been more focused on single names where we think there's some earnings possibility rather than the space as a whole, which we think may be sideways until there's evidence of stronger macro conditions. >> johnson & johnson also disappointed, despite improvements from year-earlier numbers. sales of blood thinner zorelto were lower than expected. still, j&j is raising its guidance, hoping to restock its pipeline with a $30 billion deal for european biotech atelion, expected to close in q2. unitedhealth group put up better than expected numbers citing its pullback from the afford

and citibank also reported today. that is just some of what we are watching around the region.om bloomberg technology next. ♪ this is bloomberg technology. i'm caroline hyde. softbank close to making the next big investment. that is according to people familiar with the matter. investment is part of softbank's founder's vision to establish the company at the forefront of the technology sector. visione finalizing the funds with backers including apple and saudi arabia. joining us now to discuss from new york, bloomberg technology's selena wagner. talk to us about this start up. softbank seen as improbable? >> this company started with a robot driven and world. they basically make computer software that allows developers to make hyperrealistic virtual worlds. a lot of gaming companies are capitalizing on this. you can also imagine a lot of real-world applications for this. for instance, visualizing a future of a tottenham's cars. they also recently worked with the u.k. government to make assimilation of the entire internet. it has also been growing very quickly. it opened a san f

we have thought very well of jpmorgan and citibank, but we weren't there for the move, but we have other financials, we have aig. air cap. we have others, nav irk ient wh are financial ly oriented. the banks are okay. they're like the market. reasonably fully valued. can't sit here and make a -- the markets had a a big move and the conditions for big decline aren't present. i want to make it clear. i think the mark will end the year higher than it is now, but there's plenty of risk out there. there's a protectionist risk. a dollar exchange risk. corporate debt levels are high. we're running deficits and have political uncertainty. are we going to get the tax package through congress on a timely basis. i think there's plenty of uncertainty against a a market discounting not all, but a lot of the good news. >> i mentioned the folks who are with me today, john is one of the guys on the desk with me. has a question for you. >> hello, thanks for join uing . i agree with with you that a the taxes are likely to be addressed in the late second half of this year. perhaps that kicks in this year,

police say bullets also hit a nearby car and a window at a citibank branch. e cameess who did not want to be identified described for us that chaotic scene. >> but the first two were like pop, pop, and then it was a little pause and it was like a easuryop, pop like someone was unloading. >> there's surveillance cameras ciroughout that area, and police are now looking through that video. >>> just a few minutes ago the trump administration unveiled an outline of the tax reform plan. treasury secretary steve mnuchin and the director of the national economic council talked about that plan during the white house wons conference with sean spicer. ohe key points are that the administration plans to reduce the current seven tax brackets to just three. iminatre also proposing a zero tax rate meaning a couple's thrst $24,000 wouldn't be taxed. the administration is also promising big tax cuts for business. >>> under the trump plan we will have a massive tax cut for businesses and massive tax reform and simplification. as the president said during the campaign, we will

remember wachovia, we had to bail out citibank to the tune of 80+ billion. might be hard to lose that one. liz: adam, thank you very much. not all bankers are really believing this. we've got a chairman of a midsized bank, scott shea is the head of signature bank, vice chair of coalition of america 2. what you can see of this is broad strokes but do you see fine print that you could live with that you like or just help the big banks? >> so far everything that's been done to date has helped the big banks. since the financial crisis, the six big banks have grown market share tremendously, they are up to 60% of total assets. so we as a midsized bank and the coalition is certainly hoping that the scales will be to compete. liz: okay, so this sort of reworking how we deal with banks, big banks and financials that run into trouble, and folks we remember the financial crisis. you and i and ever taxpayer had to bail out banks who had taken crazy risks. people didn't think that was fair. you've got two bankers from goldman sachs in the cabinet. gary cohn and steven m

i think most of us will remember that, citibank although it did not fail, need ad huge, over 80 billion-dollar assistance from the taxpayers. unthis legislation, at least regulation that exists now, federal reserve decided we need to take them out. that is part of what is under review. here is what the president said in his own words, what he was signing today. >> this regulatory reduction is the first step towards tax reform that reduces rates, provides relief to our middle class and lowers our business tax which is one of the highest in the world and stopped us from so much wealth and productivity. reporter: we talk about the executive actions that the president signed within the last two hours at the treasury department. of course everyone is talking about tax reform and the big announcement on wednesday. an official from the administration tells fox business, this is a quote, they plan to announce broad principles to begin formulating legislation of the so a lot of people are eager to see what those broad principles will be, lea. lea: yes indeed. the president saying dodd-frank did the opp

the discrimination there was by national citibank. p.n.c. took them over but they weren't responsible for that. they helped us clean it up. the point you are making is we think really important a lot of people would like to think discrimination is a think of the past. it's a viss tinge of the past. we have found ongoing instances of discrimination, some significant, some of them involving redlining, which a lot of people want to think it was a practice went out of fashion decades ago, but we found it hasn't. and we have taken action where that was appropriate. and where the evidence demonstrates that action is needed. and what is this about? it's about making sure that people are treated fairly and equally in the financial marketplace where they live so much of their lives. that they are seeking a mortgage that they are going to be able to get credit and be charged the same interest rate they would if they had a different ethnic ckground or racial or skin color. that's an american principle. but it requires enforcing the law to make it happe

jpmorgan and citibank posting strong gains. still the d informing 135 points after the u.s.p that had bomb in afghanistan, the s&p off by 15. the nasdaq down 31 points. >>> humans are flying blind when it cops to the impact of robots on jobs of a new study says the government should partner with digital companies like uber to better graph changes if employment. >>> ask homes are selling faster than ever, jumping 9% over this time last year. that's it from cnbc, first in business worldwide. i mean wish i had time to take care of my portfolio, but.. well, what are you doing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. thithis is the new new york.e? think again. we are building new airports all across

morgan and citibank, same stories. revenue is strongly up.blem was the commercial banking revenues were not as strong. it has been a good quarter for banks but the bigger picture is what happens in terms of their future and earning potential. given the fact that yields are coming down in markets and the yield spread has also come down is a big reason why banks have, -- have recouped some of the ins they had from the highs the trump election. they have reversed those. will be paying close attention to this as well because they have done better as rates have been raised. the green line is the fed median projection. but the market doubts we will see this. is this why bank shares have come under pressure -- because the market doubts we are going to see interest rates increase as we thought a couple of weeks ago? >> it goes much further than the last couple of weeks. onwards,ok at two 2009 the banks have always been higher than the market trajectory rates. the market has been right all along. it tends to be bullish about the ability to come to som

existing customers and, of course amex will continue to offer ever more rewards to compete with citibankicularly sapphire reserve cards, the latest package, be i the way, includes $200 worth of uber credits, which may not be something you typically seen from the high platinum cards. >> thank you, i was looking at that, myself. how do you read the report, whether it be american express, itself, or read through card businesses or for retail? >> well the other financial card businesses, even though they're big businesses, there are so many other businesses very big as well. you don't get a pure lay like you do here, i'm impressed actually. i think the competition is really intense and i think it's just going to continue. american express is not expensive here, but i think there is more to come in this war which doesn't bode well for them, although, it seems to be a nice jump here. i don't own it. i'm happy with j.p. morgan's card business. i like them overall, obviously. i think there is more room to run in their card business. >> people are looking for top line growth. these guys, if you s

it could be citibank, state street bank, a russian bank.idea because that's not on the financial disclosure form. we have a right to know that and the notion that these people do something for the middle class, i think that's a sad joke. and we -- the american people have the right at least to know what they own and who they owe money to if they are going to, because they say they're more successful than the rest of us, want to take over this government and make decisions for the entire country. and the disclosure regime is inadequate. i wrote about that in an op ed in the "l.a. times." the congress needs to amend the constitute so we can get down into these interests. particularly in the interest of international trade, national security and issues critical to this country. >> we'll leave it right there. thanks so much to all of you. >>> meantime, live pictures of vice president mike pence is speaking at a roundtable in reynoldsburg, ohio. of course, we'll be taking those remarks next hour monitoring them for you and let you know what he s

they point out $700 million of compensation a couple years ago after citibank was found to mislead consumersbout some actions that they had taken, which of that is bad? when you say that the cfpb is a rogue agency. would you roll back those actions? >> what we do in financial choice act is we create an agency that is a law enforcement agency pure and simple. the constitution says congress is to make the law. the executive branch is to enforce the law. we have an agency, i think the only second government agency since the deal, which has been found unconstitutional by a three judge panel by second highest court in the land found structure unconstitutional. we have two dozen major federal consumer protection laws on the books. we want an agency to enforce it. we also want there to be due process. we want there to be checks and balances. we want to ensure that they actually help consumers. the number one consumer protection is competitive, innovative, transparent markets. too often cfpb has hurt markets. again, it's one of the reasons that we have 15% fewer credit cards and they're costing 200

police say that a nearby car was also hit as well as a citibank window. one person right now is in custody, but police are still looking for two others on the run. a witness who did not want to be identified described what was a chaotic scene. >> the first two were like pop pop. and then it was a little pause and then you heard pop, pop, pop, like someone was unloading. >> right now, police are looking through surveillance video of that incident for more evidence. >> also new this morning, b.a.r.t. is being more cautious in the wake of the recent trab o train robbery involving dozens of teenagers. saturday night, police say about 50 teenagers jumped fare gates and forced riders to hand over their valuables. b.a.r.t. police say last night, a lake merritt station agent saw three or four young fare jumpers. when the group went downstairs, the station agent called police. police sent two trains through the station without stopping until the fare jumpers left the station. >> today, we're expected to learn more about a lawsuit being filed following a deadly apa

you have citibank, mastercard, deloitte, just to name a few. >>> meantime, the president getting majorback on his claim that he can go it alone in dealing with a very provocative north korea. of course, he said that in the "financial times" interview over the weekend that, essentially, if china won't deal with north korea, then we, the united states, will. now this morning, the head of u.s. strategic command flatly contradicting that before the senate armed services committee. he said, "any solution to the north korea problem has to involve china," all this as president trump gets ready to host his chinese counterpart. >> joining us, christopher hill, former u.s. ambassador to south korea, also iraq, also former assistant secretary of state for east asian and pacific affairs. ambassador, thank you so much for being with us. you heard the president suggest if china not willing to help, the u.s. could go it alone in north korea. you think that's a bad idea. why? >> i think it's a nonstarter. frankly, i think his purpose in saying that was to kind of focus chinese attention with the upcom

citibank has also reported strong results, up 1796. has also reported strong results, up 17%.he new york ‘sjob —— the new york 17%. samir hussein is at the new york ‘s job —— the new york stock exchange. why don't we talk about the two banks together? there are two things that boosted both of their profits. first, the rise in interest rates, which has increased lending, which helped both banks. the second thing is trading. we have talked about this over the last couple of months. but we have seen the stock market rising to record levels and breaking those records, and both banks have benefited from increased trading revenues. what does this tell us about the wider economy? is it significant in terms of the amount of business that is going on in the economy generally? there are two things to look at. first, the impact of rising interest rates, which is having a big impact on banks. second, banks and their general euphoria over the possibility of president donald trump rolling back some regulations. there is a third bank that reported earnings today, and that was wells fargo. it

people who want to donate can deposit money directly into a special citibank account. >>> st.bs affiliate kmo b has surveillance video that captured a deadly boiler explosion. a large piece of the boiler flew into taxpayer. it was in the air for 11 seconds. the boiler crashed through the roof of another building 500 feet away. three people were killed. the explosion appears to have been an accident. >>> "the washington post" reports attorney general jeff sessions ordered a sweeping justice department review of reform agreements with troubled police forces. in a people month made public last night sessions said it's not the responsibility of the federal government to manage nonfederal law enforcement agencies. the agreements were a key legacy of the obama administration. >>> the "wall street journal" says tests surpassed ford as the second most valuable automaker. tesla is ahead of federal with a stock market value of $39 million. investors see potential in electric and self-driving cars. >>> "usa today" says that yahoo! and eight other brands are disappearing. a tweet revealed

and then you move forward to the revolution of 1998 which was the merger of citibank and salomon smithton a year later came out and said glass-steagall of 1932 is dead. to give his perspective on what gary cohn said, our michael we forced jon moulton to stay with us. to talk about decades of legislation. michael, i have to ask this question -- is gary cohn talking boyd blanck finds book? is that what is going on here? michael: well, if you look at relative winners and losers, if that were to come about, jpmorgan would be a big loser. goldman sachs, less so. from a relative perspective, it would hurt them less given that they have zero deposits and less of a retail presence. a lot of that would depend on if you split these things up, how do you write late each of them? and could investment banks avoid some of the designation? moulton, helping with this. this could have occurred if senator warren had taken gary cohn to opening day at henley to see the boston red sox. is it an imaginable in london that we can see a split up of regular banking and investment banking and underwriting? jon:

he has been at citibank since 2009, an investment banker at j.p. morgan and morgan stanley.ted earnings. if you look at its contribution for the last 4-5 years as being very strong, the fact we had a record quarter in , i think the franchise is one of the best in the market and we still see growth in the foreseeable future. >> that is your bloomberg business flash. guy: thank you. let's stick with the banking theme, barclays the latest with q1 disappointing trading results , i dropped an fixed income trading revenue. the ceo spoke to bloomberg. >> the corporate and investment bank generated a little north of 8%, 100 basis points better than last year. in terms of banking fees, mergers and acquisitions, debt markets, equity markets, we had a great first quarter. that revenue number in the history of the bank is the best. in terms of revenue, rates and currency, one of the things you have to look at its we had a strong first quarter last year, so on a quarter to quarter comparison, we did not have the u.s. banks did, but in part because we had a strong quarter in the first qua

corbyn a citibank was just asking a question of elaine chao.evin: also jared kushner. the have emerged as two influencers within president trump's inner circle. jared kushner was in iraq over the past couple of days but also ivanka trump meeting with ceos, women business leaders, and her assurance of dena powell into the administration is something that should be noted. clearly this is someone whom the president trust and relies on, and someone who has his year. david: the deputy of national security, we will listen to what elaine chao is saying. >> fcc, broadband, environmental protection agency. we all have to work together and exert an influence. that is where presidential leadership is very important, and the department of defense is involved. the army corps of engineers is involved in huge amounts of construction on land and on the season ports. that is so essential to infrastructure. the short answer to your question is yes, we are very much aware of the need for engagement at the local level, and we have to do it through a partnership wh

we will get an update from wells fargo and citibank in the next half hour. hsbc down 2% in london. biggest drag on the stock 600 today. -- stoxx 600 today. hsbc has said it plans to relocate 20% of its trading staff to paris. it's all about managing expectations, still planning for contingencies ahead of the official decoupling from the eu. hanes brand up 10% premarket. preliminary -- earnings coming in on the high-end. this delays week store traffic fears for a little bit. an impressive move for hanes brand. jon: how many hands will go up jean-luc winsf the election? , narayana kocherlakota . from a beautiful new york city, you are watching bloomberg. ♪ jon: from new york city, this is "bloomberg daybreak." as we count you down to a day risk off. yields are lower. 2017 lows. down another basis point on a u.s. 10 year. we come in by .25%. let's get you up to speed on the headlines outside the business world. emma: president trump has indicated there are deep divisions between the u.s. and russia and that relations could not be worse. the president spoke at a news conference with th

the discrimination there was by national citibank but they helped us clean it up. but the point you're making is we think really important, a lot of people would like to think discrimination is a thing of the past and it is a vestage of the past. and we have found on going instances of discrimination, and some significant and some involving redlining, which a lot of people want to think was a practice that went out of fashion decades ago, but we found that it hasn't. and we have taken action. where that was appropriate. and where the evidence demonstrates that action is needed. and what is this about? it is about making sure that people are treated fairly and equally in the financial market place where they live so much of their lives. that their seeking a mortgage that they're going to be able to get credit and be charged the same interest rate they would if they have a different ethnic background or a different racial or skin color, that is a very american principle but it requires enforcing the law to make it happen and make it stick. and it makes people uncomfo

dallas: wells fargo, citibank, bank of america. i am drawing a blank. wells fargo, pd bank.his is to gofor and call outof it energy transfer partners, the parent company of the dakota access pipeline. they also have a bayou bridge pipeline, the next big fight in louisiana. people are rising up there. we have the diamond pipeline and oklahoma. we have one in florida. standing rock has inspired millions across the land. that is what we need to do. when he to nationalize standing rock. we need to nationalize that fight and take it to the next level. amy: we are standing in front of the capital, what does that mean? dallas: this is the place of power, supposedly, that is what they say. in my experience, especially, being on the ground, fighting against the state of north dakota and other companies, i know the power is within us, as a people. it is essential for us to take the streets and remind those, and whatever seats they inhabit, the power is here and they have to listen to us and be accountable. amy: thank you for being here. this is democracy now! our live coverage of the