david: you go to washington to talk to legislators. mike: i do. uplifting is not the first word that comes to mind. there are detailed discussions. we need to help regulators understand potential consequences of things they are considering. david: we you say washington does not understand the economics of the energy industry? mike: i have empathy for people who sit in these roles. they have often broad responsibilities. they may not have personal expertise in some of the areas they are responsible for. i view my job to provide injective -- objective input and help them avoid unintended consequences and achieve the goals they are looking to achieve. david: when the president says energy companies are gouging the american people, you are used to this, i assume? you do not like it, but you probably are accepting it. mike: i disagree with that characterization. we are an industry of price takers, not price makers. these are global commodity markets. prices go up and come down. we allocate billions every year. just two years ago, we were losing billions

david: how much oil do you produce a day? mike: about 3.5 million barrels per day. we convert the units of the gas to give you the energy. david: the u.s. produces about 10 million barrels per day. mike: closer to 12 million. david: you are producing 25% of the oil produced in the united states? mike: as a company, you could say our u.s. production is 1.2 million barrels per day so we are less than 10% of u.s. production. david: right now the united states is energy efficient. i think we consume 10 million to 12 million barrels per day. mike: closer to 20 million. david: we produce roughly 12 million? we are importing the equivalent of 8 million barrels per day, which is better than it used to be. where are we importing that from? opec countries? mike: canada. our neighbors are the largest supplier of oil. we are a big customer of canada, who is a large resource country. david: how do you get the oil down here? mike: there are other pipelines that have been built and sometimes it flows by rail, sometimes it comes by ship. you can bring it by ship. canada is the large

i don't have any ambition to do anything other than a good job. davidwhat do you do for relaxation? mike: generally, anything that involves family. so, i have four children. they are very active in outdoor activities. my wife is a good golfer and a good skier. so, you will find me on the golf course, skiing, scuba diving, flyfishing with family when i am not at work. david: and any of your children in the energy world? mike: no, not even close. david: so, are you a good golfer? there is a view that if you have a low handicap, that is not good for a ceo because that means you're spending too much time on the golf course. i don't know if that is fair or not. are you a scratch handicap golfer? mike: far from it. my wife is. i caddy for her in big tournaments. sometimes we will take a couple of vacation days and i carry her golf bags. that tells you who the better golfer is in our house. ♪ david: large carbon energy companies seem to be having difficulty. are they producing large amounts of carbon energy, which people like to consume, or are they supposed t

david: how much oil do you produce a day? mike: a little bit over 3 million barrels equivalent today. mostly oil, some gas. so about 3 million barrels a day. david: the u.s. produces 10 million barrels a day or something like that. mike: closer to 12. david: ok, so you are producing about 25% of the oil produced in the united states, more or less? mike: as a company, you could say that. we are less than 10% of u.s. production. david: so, right now, the united states is more or less energy sufficient compared to the 1960's or 1970's when we import ed a lot of oil. i think we produce and probably consume 10 million barrels to 12 million barrels a day. mike: we consume 20 million barrels a day. david: so we are importing the equivalent of about 8 million barrels a day. that is better than it used to be. where are we importing those from? canada. mike: canada. our neighbors are the largest suppliers of oil. remember all of the controversy around the keystone pipeline. we are a big customer of canada, who is a large resource countr

do you believe everything you read in the newspapers? david: when people in washington do something good they have the press know about it. maybe she was calling around. jamie seems to be getting all the credit, if credit is the right word. is it not fair to give him the credit? jane: jamie played a role. we all played a role. there was an active discussion that we can. david: would citi consider buying first republic? jane: no. david: another bank called credit suisse, credit suisse dissolved very quickly, were you surprised at how quickly that bank went away after about 100 years of being around? jane: we are talking about three or four banks out of the thousands that are here in the states. let's put that into perspective. credit suisse, i think, everyone was on falling off their chair, credit suisse ended up where did. it was a question of time. it has been a troubled institution. for those of you who don't know it, is a very global bank, it's got a strong operation in switzerland. good wealth management in asia. an investment bank in the

>> david: do i seem like i have any self introspection? my: you are here in hollywood as we call it. you get the urge to drive down the block to comedy store where you work for so long as a young man where you did stand up with your friends and get up on stage there and -- >> david: no, no. i was never really a standup comedian. i did stand-up comedy because i knew to be on the tonight show which was my reason for leaving indiana was you have to do some stand-up comedy because they are not going to put you on because this kid just moved from indiana. here he is. so that is all i could do and when i would go on the road, have you -- >> jimmy: yeah. >> david: every afternoon, you would be in any town, in the college town in the united states. i remember one time, they always send a guide to president of the student body to pick you up at the airport. >> jimmy: uh-huh. >> david: so you fly all night and you are has broad. the guy pokes you up. and he want to talk and i don't want to talk and i'm in the back seat and i look in the rearview mirr

not david do not be afraid to take mary your wife god is conceived from the holy spirit and she willirth to a son and to this day he has a name. yuza is quiet. it seems that its so direct and the will of god such a rank of saints is a pattern of a person and what a heroic act of faith this is faith refusing to god. faith is faith such supremacy to the fact that god is for everyone and that he is tearing away from his heart. faith what problem readiness to leave the initiative god said to god, so do not seem to words, and he said it to us rightly, and he zrobil yak thought of him about him - this is how god, by the heroic act of faith, had an attack on everything of his own. i'm on the benefits of it easier. ash in egypt to endure a hot transplant to defend from death the brother and sister of the svyatoyuzov, born by the batley, silent to the saints, oleg zhashmet will tell us his posting with his life, and he is the butt of a believing formation. yes, god's woman and my child will need a berry, we will help the knee. our plans fail or god's will showing us a tirunok discord and thou

imagine what we can do. david: you and the amir retired more or less at the same time. s a hard to give up that much power? >> someone takes me back. i don't want to do what i was doing. it's done, it's enough. ♪ david: when you were foreign minister for 20 years or so, you dealt with a lot of great leaders i assume around the world. where there one or two memorable to you who you said this person is an extra ordinary leader and i really learned a lot from that person? hamad: there are many leaders i met in my life from japan, china, the united states. i see all of them. i saw all the head of state of all of them. but to have a person -- there is a few guys which i met and either you are impressed by how they are clever or how they can manage. i want to put it in a manage position. i think one of them is the king of saudi arabia. he can manage the situation internally and externally in a way, good. do i agree with all his policies? no. he does not also agree with all of our policies but i think he is one of the leaders. the leader which i respect for his country or what

david, it is interesting - doing. no easy answers for us. david, it is interesting and - doing. s for us. david, it is interesting and wel doing. no easy answers for us. i david, it is interesting and we will hear more about it, i am sure. but for now, thank you. to the us now where the head of america's central bank — the federal reserve has been facing more questions from congress about the impact of rising interest rates on the economy. jerome powell rattled financial markets on tuesday when he suggested borrowing costs may have to rise higher than expected to control inflation. and there was more pressure on the fed on wednesday in the form of strong labour market data — as samira hussain reports. the payroll company, adt, put out numbers that showed private employers are still adding jobs and that had a pretty strong clip. the labour market's jolt research, job openings and labour turnover, by the way, it showed that for every available worker in the us there are nearly two openjobs. available worker in the us there are nearly two open jobs. meanwhile, jerome powell was gett

david: i have learned, from doing my interviews, how leaders make it to the top. >> i asked him how much he wanted. he said 250. i said fine. i did not negotiate with him. i did no due diligence. david: i have something i would like to sell. [laughter] you don't feel inadequate being the second wealthiest man in the world? is that right? [laughter] about a decade ago, a young entrepreneur, brian armstrong, who was working at airbnb, left that company to start a company to trade cryptocurrency. the company he started, coinbase, became one of the hottest ipo's on wall street. this year, because of the ftx meltdown, coinbase has had some challenges. i sat down with brian armstrong to talk about the future of his company. so, for those who don't know much about cryptocurrencies, what exactly is coinbase, and what does it do? brian: so, coinbase is the primary financial account for many people participating in the crypto economy. we help people buy and sell crypto. we also help them use it in a variety of ways. they can use it to send money, do commerce, borrow and lend. or yield on their ass

well, david, do you issue. yes. well, david, do you do.ow in of managing the bbc staff and the many thousands, i think of the bbc has, because if they have now sacked gary lineker, that sets a precedent. a bigger president or suspended him a bigger than previously when they just him a tap on the wrist. i think there has been a suggestion in the past when richard price came for in that bbc staff should not be using twitter . that seems to me like a twitter. that seems to me like a very simple to enact really that sounds horribly draconian people . if people view social media in such a well it's their personal brand. it's part of their identity now is how they promote their views, etc, etc. that would be horribly authoritarian . well, i don't think it's authoritarian. think it's the case that many bbc still seem incapable of restricting their own actions on twitter, emily maitlis came under fire for this when she was a bbc . she was when she was a bbc. she was censored several times for this. so there is a dichotomy here. do we trust the sta

david: what do you think happened to ftx? you have been quoted as saying you think there was more than just occasional bad bookkeeping. you think there was more to it than that, is that right? brian: that is right. and, you know, obviously, i am sitting here as an outsider, but it seems clear to me it was not just a run on the bank or poor management of funds. it appears they took customer funds from their exchange and actually comingled them or moved them into their hedge fund and ended up in an underwater position. and that was, i believe, against their terms of service and i believe against the law. so from my point of view it looks like a massive fraud. we know that because of the withdrawals of customer funds which should have been held at one to one, unable to be withdrawn. that appears to be fraud from my point of view. david: in your view, will the ftx bankruptcy hurt the industry and maybe produce enormous amounts of regulation you may not want? brian: i think the ftx downfall is a bit of a black mark for the industr

. >> that is dead find as research according to her. >> yes and i'm your research. >> do you have a pan friday david tell the girls come over it's a murphy bed. [laughter]. >> murphy's law applies to my murphy bed. what can't go wrong? >> sometimes after a night of drinking you wake up with a murphy brown. did i go too far? or not far enough? >> that's all right. i don't remember what i was saying. yeah. my pantry, i mean, my kitchen looks like you know in a movie when there's a divorced cop and they want to make him look like he's having a hard time, i watch those movies and it's like he's got baking soda. >> he's always drinking whiskey out of a coffee mug. >> yeah. >> pouring the whiskey, sith down, wearing a wife beater, has the transistor radio. >> you can't say wife beater. >> i know. >> but there's no actual name for that shirt. i went into nordstrom's i wanted to buy them and i had a gut feeling, do you have any spousal abusers? [laughter] [applause] >> they didn't know what to say. >> fantastic. all right, kurtzies. you must have a very strong opinion on. this i don't think you have a pan f

tom: how do you lean into this? david: we moved joined of dollars for our clients everything obey. y go through their recalibration opening new businesses and managing their capital around the world, that is what we do. i think that place of the network strength that we have. francine: you are one of the many wall street banks that have banned -- will they come back? david: it is not really about regulation, it is about what we allow in our systems. you can imagine something very new, it has just been released. we need to be careful running financial services systems about what we allow in. francine: what are you worried about? david: stability. it is a predictive tool. if you want to use that for coding, will it result in better coding than what you have? it is too early to rely on something like that in critical systems. tom: does longer-term ai come in? david: we do not know. it is one of those things you need to be on top of in terms of developing. ai does have machine learning. we need to know how that will play. i do not think we can predict that in the future. tom: thank you

do that. we will have their funds for them. david: you started the company in 2012, and you took it public, i think, in april 2021. the ipo was an enormous success. i think at the end of the day, your company was worth $75 billion or more, and you are personally worth i think about $10 billion or more. the company's stock has come down about 80% in recent times, in part, because of ftx and other things that have happened in the crypto world. so how does it feel to be worth $10 billion one day and not too long after, a lot less? brian: it obviously has been a difficult market for all growth tech. we are in good company. netflix, spotify, all these companies have come down similar amounts. we knew that going public would not be an easy path, especially in a new industry being a leader. we wanted to be the first crypto company to go out there, and we assumed it would take three or four years to go through the cycle and build trust in the public markets, so that is the process we are going through now. my own personal net worth is not so

.r right.arch. >> yeah.you ha that's all you have to do.ve a i'm your research.d or do do you havyoe a pantry, david , or do you live in one . >> i have a cupboard. how bad things. >> but you call it you tell the girls to come over to murphy bed. you. >> murphy's law applies to mys murphy's bed. >> what can go wrong will .what but it's important. >> sometimes after a night ofak drinking, you wake up with ah murphy brown . did i go too far or not far enough? >> that's all right.s all right. i don't remember what i don't remember what i was saying. it's there. yeah, my pantry. y ki i mean, what my kitchen looks like, you know, in the movie, de when there's a divorce cop and they want to make him look like like he's having a hard time. g >> yeah, that's like what my i ' watch those movies like that he's got baking soda and this guy. >> yeah, he's always drinkine'g whiskey out of a coffee mug. yeah. right. he's poor and the poor and the . whiskey sits down. ey he's wearing a wife beater. he's got he still has a transistor radio. >> it's twenty , twenty three . that's who you are.stor yeah. but you can't

i'm so proud of him that he has become governor of illinois and i think he's doing a heckuva job. david: is he going to run for president someday? penny: i have no idea, but i'm just thrilled with the job he's doing today. david: your family business is growing, and your uncle is considered one of the biggest dealmakers of the century. he built an incredibly big business empire. when he passed away, it turned out he said he wanted three people to run the family business. your cousin tom, your other cousin nick, and then you, so there were three of you. were you surprised that's what he wanted to do? penny: i was flattered because i was much younger -- at least 10 years younger than my cousin tom and more than my cousin nick, but my uncle jay and i had always had a very special relationship. frankly, my early career was very much about being an entrepreneur and starting new businesses, and i think he really admired that entrepreneurial nature as well as my hard work. i think he was intrigued by me as a woman. he had not grown up with women executives. when i showed up at the office for t

david: do you suppose -- and i will tie in this transaction in europe with the smaller but equally importantng news out of the u.s. -- do you think we will see more regulation moving forward to protect the banking system? fariborz: that is the very issue. the issue coming back to bail out versus bail in. the main issue for us will be what is the reaction of the market in europe today when it opens with regard to generally banking systems and banking sectors, and then the second issue will be whether there will be other regional banks in the u.s. over first republic bank, which was supported by 11 banks in the u.s., if they would be in trouble. if we cannot contain systemic risk among midsized banks in the u.s., the second plan b is going to be whether we should introduce a stress test and other issues with regard to liquidity that are provided to the largest banks in the u.s. to midsized banks as well, $100 million to $250 billion assets. but the regulators are focused to make sure the market is calm and there is no risk of contagion at the moment. rishaad: mohamed el-erian saying he is watc

do you think, david, do you think right now john deere, you can loaf off >> of course not >> this is y do. you think ford right now is trying to hire people or fire people >> ford? >> i'm just using them -- >> fire people. >> i'm saying industrial america -- >> i don't know what's going on. >> meta is now starting to act like a grownup company there's a lot of companies out there that do enterprise software in the exact same way they've got to worry existentially about their business when you look at gitlab which is a darling until today, a darling, you say to yourself, wow, do we need gitlab maybe we don't salesforce until two weeks ago we didn't need it. i think that this is the reckoning for these guys i think zuckerberg is well ahead of it. i'm not laughing i think this is a very smart manifesto, david >> as we keep an eye on the banking industry, significant rebound. don't want to lose sight of the fact we have m&a this morning in the form of a lot of leverage buyouts. the nature of leverage buyouts has changed to a certain extent. more equity, less debt has typically been the ca

that is what a dollar-denominated at1 would do to japanese banks. davidoking at the equity side to the story, how diverse really the equity prices have traded, it seems like the market is picking out winners and losers. what do you make of this massive diversions in share price performance? for regional lenders. >> we follow the 35 large-cap asian banks in the region. we see there have been bigger price losses since the collapse on the eighth of march for hsbc standard chartered, two u.k. banks but with business forecasts in this region, and for japanese banks, these five banks are more exposed to many other asian banks that we follow. they may have more business exposure even in the home market or at the very least in the region. these five banks are more exposed to the international markets. they fell an average of 15% more catching up with european banks and u.s. banks in each of the regions. for other banks, the declines are pretty morbid. chinese banks especially. china's biggest banks gained a bit throughout the process. that would be the safest gro

do. (david) within months, my a1c went down, that's 6.9. (donna) at my last checkup, my a1c was 5.9.male announcer) dexcom is the number one recommended cgm brand and offers 24/7 tech support, so call now to get started. you'll talk to a real person. don't wait, this one short call could change your life. (bright music) for businesses of all sizes, there are a lot of choices when it comes to your internet and technology needs. when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose a next generation 10g network that's always improving, getting faster; more reliable; and more intelligent to keep you ready for today and tomorrow. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. >> it has been more than six years since then-candidate donald trump paid hush money t an adult film star through his fixer, michael cohen just days before the election in storm daniels was threatening to g public with the story of her

and that's what you have here. >> david, do you agree with him?roblem here is the acceptance of the idea of indicting a former president, unprecedented move, a law that's sort of a couple of steps removed. in other words, the law here makes it a misdemeanor to falsify business records with the intent to defraud. so the idea there would be that payments were falsified that were made to michael cohen to reimburse him for payments to stormy daniels, miss daniels. and then it becomes a felony under 175-10, under new york law, if there was the intent to defraud, to commit or conceal another crime. and so we're a couple of steps removed here. it's a fundamental assumption or principle of prosecution, both federally and in storknew york that we don't prosecute unless the prosecutor beliefs he will get a conviction beyond a reasonable doubt. that's a dubious theory of conviction. it's not the kind of case to indict a former president trump. by the way, the political fallout plays both way. there's an election bloc piece by rick hazen, who's no trump lover

maria: david, do you want to say anything about the current head of what's going on in terms of the senaterun for a senate seat again, david? we know now that you did the not win, and now we've got fetterman in place, and he's got all sorts of health problems. how do you assess what's going on right now there? >> look, the first time in 76 years that we've had two democrats as senators for pennsylvania, and the progressive left ideology that's taking our country, in my opinion and i say this in the book, in the wrong direction is not what the people of pennsylvania want. when you run for office and you lose by 900 votes and 1.4 million cast, you don't lose the motivation to serve. whether i'll run for the senate again or not is something we're thinking about and talking about as a family, but the book was really meant as the same motivation i ran for the senate which is america is in decline. decline's not inevitable, but neither is renewal, it depends on what we co. this is a book that argues for educating our people, confronting china ask secure ising america and having leaders that can

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. >> so david, do you see grounds for appeal? >> chris, i do not, and i think the easiest way for me to summarize my view of that overall is at one point his son buster tried to pass him a john grisham novel during the trial. i have to believe part of what he was thinking is hey, dad, i don't know if you've read this. they've got a better trial strategy than y'all do, maybe it's time you flip the script. we are going to see a motion for ineffective assistance of counsel as a basis for a new trial. i think he's got a better chance of winning the lottery than he does of succeeding on that motion. they typically don't assess it in terms of trial strategy. the bulk of the evidence that was used here was introduced by him is ask his lawyers. i don't know why it's a good idea to say your housekeeper tripped and fell and died at your house. you approached her children at the funeral and said let's hustle the insurance company out of money. you tried to blame the victim who was your son, and when you did that, you forgot most people are g

so, that is possible for them to come back on that a little sooner than they're expecting. >> david, doou think the strength at home goods is because of the bed bath effect, that they're just redistributing that market share? or is it because there's going to be persistently small demands on new homeowners? >> i think there's more demand, a. i think, b, i think the part most people miss here is the rental market is up. more importantly, they're still filling multi-residence homes at a pretty good clip even though the new home market is down, the new multi-resident construction is up that means appliances in each and every case even though it might be appliances on a business level, it's still going to be appliances it's still going to be that type of thing the other side of this is where the services are this is something that best buy has been trying to establish for years. i think they did cross the threshold of being able to offer complex support for products in the home, which there's clearly a need for and i think they're finally capping it >> on tech which is a dish network produc

david pillpel. good morning. i do not know the nominee gerald turner, but i share lauren post's enthusiasm and look forward to his service on the commission and recommend forwarding his nomination to full board with recommendation and are thank him for volunteering to serve. thanks for listening. >> thank you. that was our last caller. >> thank you. public comment is closed and i was reminded when chair post was mentioning how valuable real estate is. someone who is a friend and mentor to me in my many years from the city attorney office was jesse smith and used to make the comment, no matter what it is, it always comes back to real estate. it is a point well taken and very impressed with mr. turner, so i like to make a motion to recommend gerald demarcus turner on the public works commission for seat 1 position. >> on that motion- [roll call] motion passes without objection. >> thank you mr. clerk, and with unanimous vote, item 5 goes to full board with positive recommendation. mr. clerk, please call the next item. >

david starkey. why do the issue. david starkey. ink young people seem to be disillusioned with women's rights movements ? well, maybe it rights movements? well, maybe it be called experience . dare be called experience. dare i suggest particularly the chaps find themselves mocked, but actually accused of rape of sexual licence or violence of toxic masculinity and so and so on. so perhaps, you know, oddly , they could think maybe things have gone a bit too far. maybe there are problems . and you see, there are problems. and you see, i think the great problem of causing if we just lift ourselves out of that survey and do what you and i should be doing, which is go back and asking questions, the real problem with the whole notion of female equality like of every other kind of campaign for equality is that it confronts the fact of human difference. how do you have a notion of equality and somehow make it compatible with the that in most ordinary meanings the word equal people aren't equal. and i think this issue as were, looms particula

david: what else do we know? a separate related story, this criminal probe that signature bank faced? past tense. >> yeah, david, a lot of the attention has been on svb, but do not forget signature bank, shuttered over the weekend. before the fed and fdic took the bank into receivership, u.s. prosecutors were looking at, doing a criminal probe into the bank, looking at the bank's relationship with bitcoin customers in particular, and whether the bank had sufficient processes in place to examine the kinds of the people that it was banking with, the bitcoin customers, and whether they had links money laundering, were they being probed is you would normally do with customers? david: ok, thank you so much on all related. our finance reporter out of sydney, australia. finance/banking, slightly bigger scale here, credit suisse. rishaad: it has gone, i mean, looking back. there you go. david: wow. rishaad: i'm not can use that epithet. david: credit default swaps. it goes to our conversation the ceo conversation we had

i'm people if you just grow and grow a diversity, same thing that david is doing it in the latin. mia lewis during our knowledge with the community on and avoid using pesticides environment. gender fantasy meant that so not as to these are things that farmers can apply at their own houses. so up is when people come here they go, i can do that with his indigenous ancestors. burn agriculture. the part of the coffee plant waste. nothing peculiar. adam home beneficial skins or discarded barrels in order when we put the coffee ourselves with fertilizer, in order to let a mobile socialist it is curious to hacking micro organisms unable to love every 30 days or 3 times. oh okay. i troubles coffee for all crops, but it looks good deal thing. fruits, vegetables, beans and corn. these to hector's chin strengthens the plants thing. extra le. her pin is to produce when you consumes or companies sonata. ah. has managed to drive as don doris. ah, in new methods to others, his knowledge coffee farmer is determined to his homeland the of the way example to the u. s. if any birds of course i like that

. >> what do you make of that, david? do you see this as different from january 6th? nk it's important we realize that. he's shown us what he tries to do when he issues these statements. he's hoping for protests in the street and maybe would be okay with violence. what might be different in how the meme react is that on january 6th it was personal to many people, they felt their vote had been taken away, their election had been stolen, and donald trump was the incumbent president. now we're two years removed. this is a story about donald trump and an adult porn star. there's not the same relationship to people's personal lives. i don't anticipate the protests. i will say this, lindsey, the great unknown here is when a mugshot starts circulating, if it does, does that change the psychology within america around this issue and all of a sudden it's not just a small issue but a big one when people see what could become an infamous mugshot photo of the former president. >> if it happens key there. ali, let's talk about desantis. republicans are in trump and desantis' home s