shawn matthews is ceo of cantor fitzgerald david walker and david walker comeback america ceo. shawn, let me kick it off with you and the markets. hot stuff. dow and s&p hitting all-time highs. keeps going higher. what do you think i behind it. >> you have a fixed income complex where ten year treasuries are trading beehlo 10% and money has to find returns at this point in time. certainly everyone is looking at the standpoint of equity on a basis are cheap and will continue to put their money there but may get a cyclical nature of the equity market but in general people want their none equity. >> we know is this largely fuelled by the federal reserve because there are no alternative to stocks when people are looking for yield. doesn't matter the economy is so-so. >> you have balance sheets at corporations in great shape. revenue growth that is so-so. agree with that but where do you put your money. people are looking at activity in the marketplace over the next year or so as people look to grow their revenue in alternative sources with cheap financing. >> i want to ask you abou

joining me now to talk about all of that, shawn matthews, the ceo of cantor fitzgerald, and david walker's comeback america initiative founder and ceo. thank you both. it's great to be with you today. shawn, pretty hot stuff. dow, s&p 500 hitting all-time highs again this week. it just keeps wan wanting to go higher. what do you think is behind it? >> relative value based equities. you have a fixed complex where treasures are trading below 2%, and money has to find returns at this point in time. 10 certainly everyone is looking at it from the standpoint of equities on a relative value basis are cheap and they're going to continue to put their money there. we may get a cyclical nature in how the money is going to go in and out of the equity market. in general people want to put their money in equity. >> we all know this is largely being fueled by the federal reserve, right? because there are just no alternatives to stocks when people are looking for yield. so it doesn't matter that the economy is just so-so? >> well, you have balance sheets and corporations in great shape, and revenue growt

[laughter] >> david walker, when i talked to david, i think we should end this right now because this is disaster going nowhere. do you have a vision of what the timing and the sequencing could be that could be productive, that could take us out of this without a great depression or some major economic disaster? >> david is talking about monetary policy and the federal reserve, and i share concerns he has there. let me talk about fiscal, because as i said before, tax and spending, right now the fed is the only game in town. they're trying to prop up the economy, the housing market, a lot of people, including u.s. government. realistically, they will continue to do what they are doing rightly or wrongly until there is a grand bargain. when will it take? if you look at what has been done so far, they had been treating the symptoms, not the disease. for example, if you look at what happened at the end of the year, we raised taxes on people making over $400,000 a year, couples over $450,000, raised capital ,ains and dividends for ppeople did not transform the tax system at all. we have an

this is about a rogue institution that will take everything down. >> david walker, when i talk to david should end this right now because this is disaster going nowhere. do you have a vision of what the timing and the sequencing be that could be productive, that could take us out of this without a great some majoror economic disaster? >> david is talking about monetary policy and the federal reserve, and i share concerns he has there. let me talk about fiscal, because as i said before, tax and spending, right now the fed is the only game in town. the're trying to prop up economy, the housing market, a lot of people, including u.s. government. realistically, they will continue to do what they are doing rightly or wrongly until there is a grand bargain. what will it take? beenu look at what has done so far, they have been treating the symptoms, not the disease. for example, if you look at what happened at the end of the year, we raised taxes on people making over $400,000 a year, couples over $450,000, raised capital gains and dividends for people, did not transform the tax system at all.

this is about a rogue institution that will take everything down. >> david walker, when i talk to david, i think we should end this right now because this is disaster going nowhere. do you have a vision of what the timing and the sequencing could be that could be productive, that could take us out of this without a great depression or some major economic disaster? >> david is talking about monetary policy and the federal reserve, and i share concerns he has there. let me talk about fiscal, because as i said before, tax and spending, right now the fed is the only game in town. they're trying to prop up the economy, the housing market, a lot of people, including u.s. government. realistically, they will continue to do what they are doing rightly or wrongly until there is a grand bargain. what will it take? if you look at what has been done so far, they have been treating the symptoms, not the disease. for example, if you look at what happened at the end of the year, we raised taxes on people making over $400,000 a year, couples over $450,000, raised capital gains and dividends for people,

[applause] >> david walker. when i listen to david stockman talk, i wish we should just end this right now this is just disaster going nowhere. do you have a vision of, of what the timing and the sequencing could be, that could be productive, that could take us out of this without a great depression or some major economic disaster? >> dave is talking about monetary policy and the federal reserve and i share a lot of the concerns that he has there. let me talk about fiscal because as i said before, which is tax-and-spending. let me talk about that because as i said, right now the fed's the only game in town. they're trying to prop up the economy. they're trying to prop up the housing market. they're trying to prop up a lot of people including the u.s. government. and realistically they're going to probably continue to do what they're doing rightly or wrongly until there's a grand bargain. what is it going to take? look the truth is, if you look what's been done so far, they have been treating the symptoms, they ha

we also know that -- i am listening to simpson-bowles and david walker and the comeback america initiative. on their side, they pointed out the fact that you have close to $1.50 trillion tied up in credits and deductions. out of all the filers, 20% will be enough to itemize, they get 80% of that money. you know, 55,000 pages, the tax code. every one of those lines of code has a constituency behind a will to fight. you're never going to get all that. i tend to feel that the president has taken a bold position of leadership and initiative on this. now the ball is in the republicans' court to beginyou'l that. to bring true tax reform so we can see many of the things you are speaking about, like the fact that the corporations are not paying, like the fact that the wealthy are not paying their fair share. however, both of those bipartisan debt commission's have pointed out the fact that you cannot tax your way out of this thinking and you cannot cut your way out. you don't want to cut real heavy until the out years, after the economy has had time to recover. say,ast thing i want to alan simpson

and we also know that who i am listening to is, i'm listening to simpson-bowles and also david walker and the come back america initiative. on their side they pointed out that you have close to $1.5 trillion tied up in credits and deductions that of all the filers 20% those that are wealthy enough to itemize will get 80% of that money. but you know yourself sir that 65,000 pages of tax code and every one of those lines of code have the constituency behind them that are willing to fight. you're never going to get all of that so i tend to feel that the president has made this old leadership and initiative on this and now the ball is in the republicans court to begin to bring true tax reform so that we can in fact see many of the things he speak about mr. green the fact that the corporations aren't paying them like the fact that the wealthy are not paying their fair share. however both of those bipartisan debt commissions have pointed out the fact you can't tax your way out of this thing and you can't cut your way out of this thing. you certainly don't want to cut real happy until the ou

former comptroller general david walker and federal reserve vice chairman janet yellen. >> actually a significant that this amount has been preserved all these years. at one point there were probably about 30 to 40 of these mounds around the salt river valley. and only a couple of them have survived. most of the mounds were much smaller, about a third to a quarter of the size of mesa grande, and it system around which survived also, pueblo grande. so a lot of those were destroyed and these did survive. and it offers us an opportunity to study them, learn about their lifestyle, and hopefully learn something about how complex their social and political organization was. i always thought with archaeology, one of the great things we have about archaeology is that when we look into the past and see what people did, like building these canals, i think it gives you hope for the future. because if they could do this in the desert with digging sticks, what is it we can give? >> this weekend booktv and american history tv tour the history and literary life of mesa, arizona, including a look at

you'll hear from former reagan budget director david stockton with former controller david walker andmer vice chair janet ellen. coming up tonight at 8:00 eastern, it's a look at health care for u.s. military veterans and the cost to taxpayers. we'll look into the current needs of vets, the types of treatment available and the impact of budget cuts. here is a part of what you'll see. >> i have veterans who have come home, we have worked the system to try to get them the disability compensation and care that they need and somebody has come along and told them all they have to do is sign this paper, stop your v.a. benefits and you, too, get again another tour to iraq and afghanistan. so the idea that the troops are not keeping up, the needs of the troops that they're recycling because they're not meeting their recruiting quotas, this is something that will be coming home to roost and we have no idea what the far reaching effects of these multiple deployments, not just -- not just on the military member themselves, but on the amily, the families. 1 million children in america have had on

we also know that -- i am listening to simpson-bowles and david walker and the comeback america initiative. on their side, they pointed out the fact that you have close to $1.50 trillion tied up in credits and deductions. willf all the filers, 20% be enough to itemize, they get 80% of that money. , 55,000 pages, the tax code. every one of those lines of code has a constituency behind a will to fight. you're never going to get all that. o feel that the president has taken a bold position of leadership and initiative on this. now the ball is in the republicans' court to begin to bring true tax reform so we can see many of the things you are speaking about, like the fact that the corporations are not paying, like the fact that the wealthy are not paying their fair share. however, both of those bipartisan debt commission's have pointed out the fact that you cannot tax your way out of this thinking and you cannot cut your way out. you don't want to cut real heavy until the out years, after the economy has had time to recover. the last thing i want to say, alan simpson pointed this out and erski

. >> we talked to david walker yesterday who suggested this would be a step in the right direction in terms of looking for ways to raise revenue and tackle the entitlements. >> he wants to see whether they are serious. it's playing out just as "the new york times" piece from a week and a half ago playing out like clock work. >> good news people on the far right or far left agitated about this and didn't like the budget. he said he thought it was dead on arrival. >> which we're going to hear it's the republicans fault and then we have an election. have you done the math yet? >> i have not. >> how many months? yeah. pelosi is ready to go. >> it's going to be another fight this time around. we will continue to get some of these details but the full details aren't expected until the president speaks at 11:00 eastern time this morning. you'll hear talk about people going over these initial details this morning. there is other washington stories we're watching today. senate negotiators are putting final touches on bipartisan immigration but the major unresolved matter for this bill rules fo

david chiu from district 3. >> the sun is shining on walker's today and thank you for presenting the diversity. everyday someone walks or takes a bike to munis but everyone walks. i want to thank the mayor for the goals that we have for the pedestrian program. i think we have a generation today of board of supervisors who are making sure that we are moving forward a pro pedestrian agenda. we are walking in the footsteps of other supervisors including max well who also knew how to walk the walk. will is i want to say is the mayor talked about a goal about reducing pedestrian fatalities, i think we should go further. there is a zero tolerance when it comes to pedestrian fatalities. some day in our life times, we will have years where no one gets killed on our streets. thank you very much for being here. >> i support that goal. and supervisor katie tang from district 4. >> good morning, everybody. as i was talking to our group that walked in this morning as we enter into the work world we tend to forget to do walking as part of our daily activities. if you are going away from a meeting, try to use

let's bring in david kelly who prosecuted the 1993 world trade center bomber and acted as colead prosecutor of american taliban john walker for joining us. this would obviously be a very high profile case. what are the difficulties in prosecuting a case like this? >> you've been hearing today about the collection of evidence. it sounds very interesting on tv but trying to translate that and convert that into admissible evidence in a courtroom can be quite challenging. so while it sounds fairly easy to put together and something like a csi show it is much different when you get into the called ron of the courtroom and having to actually use the rules of evidence to get that material in front of a jury to be considered as evidence. >> of course it's possible that the suspect or suspects might not be american citizens and in that instance what changes? >> it doesn't really change. if the person is apprehended here whether a u.s. citizen or not they'll be treated under the u.s. federal criminal law. it becomes challenging if the suspect has left the country. then we're dealing with two things. first we have to apprehend him o

walker's same when you're wearing crocks. >> i where crocks. melissa: you don't have to do a joke anymore. it's all over. in case you missed the red sox doubleheader, listen to davide] melissa: that is right. he dropped the f-bomb on live tv, but in an unexpected move the fcc chairman tweeted that they're going to let it pass because they poppy was speaking from the heart. i am more struck with the fcc tweeting. we are going to let t go. who is sitting there -- >> big policy decisions. melissa: apparently. >> meanwhile, the kid in north dakota that has the f-bomb dropped his first day anchoring of fired and the fcc will let them. >> those words usually come from the heart. it comes right year. melissa: it is not usually, you know, just casually. try not know.