. >> my name is david goldman. i am speaking on behalf of the san francisco chapter of americans chris eighth acts of -- americans for safe access. we have 50,000 members made up of medical cannabis patients, medical professionals, scientists and the desert -- concerned citizens promoting the safe and legal access to medical cannabis for use in research. the san francisco chapter provides the thousands of it for those who reside in the bay area. we have had an exemplary record. we propose that the club will go a long way to provide corporations. we have been supported of the work on behalf of access, they have also made outreach to their neighbors, and a pledge to work with them on any matters of mutual concern. we urge the board to deny the appeal. it will be a fine addition to the neighborhood. >> can i ask the folks along the wall to come closer by the podium? >> good evening, members. my name is michael cohen. i live in san francisco and i am a member of the americans for safe access chapter in san francisco. a

what he said. >> makes it nice and simple. >> david goldman and art hogan gave credit to art hogan and bill clinton. up next, my one-on-one with jeb bush. president obama uses the bush tax cuts like an insult, and you will see what we have to say about that right after the break. wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. [ yawning sound ] >>> i'm jackie deangelis at cnbc global headquarters with a news update. federal prosecutors calling for a maximum sentence of 230 years for convicted ponzi schemer alan stanford. linkedin confirmed some passwords stolen. the data breach may have compromised millions of users on the social networking site. stock not impacted by the breach. >>> and many thousands of americans fought their way to the shore of normandy in france. up next, larry's exclusive interview with governor jeb bush. "the kudlow report" returns in a moment.

david goldman, former head of fixed research at bank of america.resident of macro strategy. and mike holland. you've got to help me out here, i'm worried act the euro breakup, the greece crack-up, financial market meltdown, a world recession. i just want to lay it out. that i'm right. i hope to heck i'm not right. but none of this stuff reads very well. and david, i'm going to begin with you, how do you see it? >> the germans really loused this up, larry, because on the one hand, they demanded senior creditor status for their $100 million loan to spain, which means they basically threw the spanish debt market into a panic, but at the same time, they stretched their own credit so thin that they own debt began trading in a very bad way. german debt is now in danger of losing its safe haven status. germany's credit may be the next to be impaired. they simply can't pick up the bill for everybody. they've got to make clear that losers have to be allowed to lose and winners have to be allowed to win. if they do that, it's a handable situation. but if you

. >> my pal david goldman is reminding me bank balance sheets are collapsing all over europe.t's an issue. i did a little bit of homework. i'm sure you know that. since february, the crb commodity futures index is down 17%. the price of oil is down 28%. i'd like to rejoice about the price of oil coming down. but i have a feeling it reflects the global economy coming down. >> it definitely reflects the global economy coming down. there is no question. it also reflects increased supply. that's a good thing. increased supply in saudi arabia, in america. interestingly, america's oil supply growth is double the rate of chinese oil consumption growth. that's a good fact that bodes well for the long-term global economy. you're right. reduced demand is a big part of the story as well. >> one last one. you have been helpful. i also have friends whispering in my ear that american banks are an interesting place to invest. even though moody's downgraded them that was already in market. american banks have excess capital. excess liquidity. they are making good money. is such a thing possib

. >> now, thomas beach and william dunn and neil goldman, steinehans, manuel -- >> he goes manny klausner. david koch. james lintot, robert poole, al st. claire, joel stern, any of those folks that you can explain to us and how they get there? what's the central reason why somebody comes to the reason foundation? >> i think they are excited about the ideas that we believe in. and they are sometimes they have been involved with us on some particular policy issue. often they -- many of the people's whose names you read are people who are essentially magazine readers and enthusiastic about the magazine and then came to know about the public policy institute through that. and you know, they believe in what we believe in. and at some point they, you know, want to get more involved. >> one of the names most mentioned in your book is frederick von hiech. who was he? >> frederick was -- i say he's the most important philosopher of dynamism. he was an us a tree an born economist and social philosopher who enventured nishe use of cognitive psychology and really renaissance man of ideas. who was a great de

goldman sachs here. so i thank the genting man for pointing that out. >> okay. we want to introduce our panel and get right to our witnesses tods. we have with us mr. david crane, the pthd and ceo. >> mr. robert mancini is the ceo and director of ormen technologies. we want to come you all here. that's the practice of this committee to swear you all in. if you could just stand up and raise your right hand. do you solemnly swear or affirm that the testimony you're about to give will be the truth, the whole truth and nothing but the truth? let the record show that everyone answered in the affirmative. and we will move down the line. you all know how this works. you get five minutes, more or less, keep it close there if you can. you've got the light system there in front of you. you can see. >> good morning, mr. chairman, ranking members and distinguished members. you've already introduced myself. let me introduce nrg. we're a fortune 300 company with 25,000 megawatts of coal, gas, wind and solar generation. it's nuch to power more than 20 million homes. we also serve more than 2 million customers in several northeastern states. important to our discussion

money and power how goldman sachs came to rule the world he's also contributing editor to vanity fair and a columnist for bloomberg view and from our studio in los angeles we have david de and blogger at firedoglake gentlemen i want to thank you both for joining me tonight and before we get into you know i know for example bill that you were actually there at the hearing today before we get into that i want to play a little clip that gave me of the impression of what went on and this comes from senator jim de mint. but i would like to come away from the hearing today with some . what you think we need to do. what we maybe need to take apart that we've already done to allow the industry to operate better and it's a shame to not put the american taxpayer risk i really honestly looking for some ideas as we look over the next year and hopefully in a position where we can make some positive changes. so can you explain this to me jamie dimon is on the hill he's supposed to be getting a grilling they're supposed to ask how is that these still have these risky practices going on these trades that you didn't understand you lost a billion dollars you know and more at the end o

david. >> i'm upbeat. it's the weather, really. that's what does it to me. >> jim o'neill from goldman earlier on "squawk" talking about how europe is business that wants to be more cautious going into the third quarter. >> we've seen that throughout the year, in fact, the unwillingness of so many executives to make the big decisions whether it be hiring or opening plants. not to say they haven't to a certain extent. m and a, exacerbates worries about growth. as we move closer to election, end of the year and budget woes, you're just not going to see those key decisions made. >> can i just make one point about that. when they blame what's happening in europe, actually the way in which that impacts a lot of their products, you see that with p and gs through emerging markets. those bricks where you had growth before, because their currencies have been so badly affected with surging dollar, you're kind of erasing growth, you fundamental growth is not going to come into the earnings the way it would have done because of currency moves, which is jim o'neill's starting point. >> all right. financials, energy, technology all leading the wa

goldman's lloyd. >> this is a live shot. gordon brown is testifying. this is an inquiry and their relationship between politicians and the media. later the current prime minister davidill also take too the stand. >> what's at stake for the levenson hearings? >> control of the press. >> that's a small one. >> yes. i think the point is the rules are already in place. they need everybody to obey the laws. >> well, we'll keep an eye on those throughout the day as well. you'll just have to forge ahead without me. >> you're off to vienna for the opec meeting. >> off to vienna. off to see the danube that that's it for the "worldwide exchange." coming up next "squawk box" stateside. have a positively beautiful day. >> thanks for tuning in. [ male announcer ] this is genco services -- mcallen, texas. in here, heavy rental equipment in the middle of nowhere, is always headed somewhere. to give it a sense of direction, at&t created a mobile asset solution to protect and track everything. so every piece of equipment knows where it is, how it's doing or where it goes next. ♪ this is the bell on the cat. [ male announcer ] it's a network of possibilities -- helping you do what yo

david for another five months or so. >> he's in new york, though. >> and then he's back. >> we're looking forward to it. >> still ahead, warren buffett will be here on set. also the ceo and chairman of goldmanversation. "morning joe" live from chicago, back in a moment. [ thunk ] sweet! [ male announcer ] the solid thunk of the door on the jetta. thanks, mister! [ meow ] [ male announcer ] another example of volkswagen quality. that's the power of german engineering. right now lease the 2012 jetta for $159 a month. visit vwdealer.com today. to your kids' wet skin. neutrogena® wet skin kids. ordinary sunblock drips and whitens. neutrogena® wet skin cuts through water. forms a broad spectrum barrier for full strength sun protection. wet skin. neutrogena®. what if i can't lose the weight? what if weight watchers can't help me? what if i'm not ready for change? what if i fall back into old habits? what if i lose control? what if i gain it all back? what if there's always an excuse why i can't? what if i can't follow through? what if i fail? shhh. there's only one voice worth listening to and that's the one saying you can do this. i'm standing here still in control of my weight with weight watch