dimon? >> it would go to other banks, larger banks overseas, who could do the business. >> which means we have less influence in the global financial markets, right? would you say, mr. dimon, that we're a leader in global finance? >> i think that america is a leader in global finance and i hope to god that we remain that for the foreseeable future because it's a critical part of having a very healthy -- >> when you -- i asked the ranking member for ten more seconds that was taken from me. >> i'm sorry, mr. duffy, we have members that are waiting. >> madam chair, you took ten seconds from my time. >> mr. duffy, if you insist, go ahead and take another five seconds. >> thank you. i guess maybe i'll follow up, mr. dimon, in regard to what impact you have on global sanctions that come from america on foreign countries that are bad actors that take place there through your global influence finance markets. >> your time has expired, the gentleman from missouri, who is also the chair for the subcom

dimon? >> it would go to other banks, larger banks overseas, who could do the business. >> which means we have less influence in the global financial markets, right would you say, mr. dimon, that we're a leader in global finance? >> i think that america is a leader in global finance and i hope to god that we remain that for the foreseeable future because it's a critical part of having a very healthy -- >> when you -- i asked the ranking member for ten more seconds that was taken from me >> i'm sorry, mr. duffy, we have members that are waiting >> madam chair, you took ten seconds from my time >> mr. duffy, if you insist, go ahead and take another five seconds. >> thank you i guess maybe i'll follow up, mr. dimon, in regard to what impact you have on global sanctions that come from america on foreign countries that are bad actors that take place there your global influence. >> your time has expired, the gentleman from missouri, who is also the chair for the subcommittee on national security,

dimon? mr. dimon: i think that is the regular court system. mr. sherman: the small claims court is a separate court system. you will not allow them to go to federal court or a court of jurisdiction. is there anyone -- i'll do it again. is there anyone here that would allow a regular middle-class customer to, if they had a dispute, go to a regular court of general jurisdiction? i see mr. moynihan's hand went up. mr. corbat's hand went up. want to focus on mrs. maloney's bill. for one, it would prohibit manipulating the order in which you debit an account in order to maximize overdraft protection. how many -- please raise your hand, if i can count on your lobbyists here in washington -- and y'all have them -- to support a bill that will prevent manipulating the order in which accounts are debit? not a single -- ah. thank you. >> need to see the whole bill. mr. sherman: ok. but this one provision you would support? [inaudible] ms. waters: thank you. the gentleman from florida, mr. posey, is recognized for five minutes. mr. posey: thank you, madam cha

diamond -- dimon suggesting that share buybacks have a place in finance. the american dream is alive but fraying for many. he must have a proper diagnosis of our problems. the issues are real and serious. the issues are all fixable but only if we set aside partisan politics. one of the joys of this letter as it is written in jamie dimon's voice, not a bunch of handlers. ceo's, your country needs you.

dimon >> mr. gorman, you are recognized for five minutes. >> thank you chairwoman waters i share your commitment to this goal the financial crisis in 2008 was devastating to our country most significant event in morgan stanley in 84 years of history as a result, our management and board of directors have spent working hard to make sure the dow firm never experiences what we went through then we acknowledged had it not for this board of congress, we as a firm may not survive ten years ago we went back on an aggressive plan to remodel morgan stanley to ensure stability in the harshest of times. its ongoing strengths to support our clients and employees and shareholders and our communities. we make these business changes at the same time congress designated a new regulatory architecture which included stress testing, resolution planning and the living well process among other changes. on the hold, we have embrace these regulatory changes, morgan stanley in burglar is stronger as a result. we are safe

maria: more from jamie dimon coming up.my exclusive interview this morning beginning at 8:00 a.m. eastern, where we talk about the odds for a china deal getting done, his take on testifying on capitol hill last week as well, all coming up next hour right here. first, we'll take a short break. when we come back, we're watching earnings. we'll bring you the numbers from the blackstone group and phillip morris, better than expected this morning. the mueller report, democrats are slamming the release of the redacted version now, they say it will be following a press conference with attorney general barr at 9:30 a.m. eastern. they don't want the a. gorks havg. to havea press conference. the controversy, coming up. ♪ when my feet hit the ground. ♪ i just need, i just need you. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get some

jamie dimon says it well. if you are a lot smaller, does your work go to small banks in my district? if you do not bank the big deals you bank, they don't go to small banks. don't they go to the bank of china? doesn't your business go somewhere else? go to largerld banks overseas who can do the business. >> this means we have less influence in the global financial markets. would you say we are leader in global finance? jamie: i think america is a leader and i hope to god we remain that in the foreseeable future. mr. duffy, we have members that are waiting. rep. duffy: you took 10 seconds from my time. >> go ahead and take another five seconds. rep. duffy: maybe i will follow youn regard to what impact have on global sanctions that come from america on foreign countries that are bad actors that take place in your global finance. missouri,tleman from it was also the chair of international development and monetary policy is recognized for five minutes. >> thank you, madam chair. i want to follow up just slightly.

jamie dimon is the head of jpmorgan chase bank. $31 million a year and pays lobbyists millions and millions to handle his lobbying interests in washington and to prepare him specifically for things like testifying to congress. but lobbyists cannot anticipate katie porter representing the 45th congressional district in california with irvine as her biggest city. she began her questioning of jamie dimon this way. >> i went to monster.com and i found a job in my hometown of irvine at jpmorgan chase that pace $16.50 an hour. >> the lobbyists never saw that one coming. katie porter then did the math on what that income would be on an annual basis. and for a the hypothetical job applicant who is a single mother with one child. that job would leave her with $29,000100 a year after taxes. jamie dimon is no doubt good at math but not used to working with such tiny numbers. so katie porter laid out what the financial life looks like of someone getting a entry level job in the company where jamie dimon makes $31 million. >> should $2,425 a mo

dimon: you too. lisa: can i take a picture real quick? dimon: of course you can. to have some small wins along the way. being in business isn't about making a million dollars in the first year. it's about enjoying and celebrating the little wins, and then letting them mount up over time. cory: oh, wow. that was amazing. lemonis: he loved it. cory: yeah. lisa: like, i'm not built for this type of work. lemonis: yes, you are. lisa: it's not me. lisa: i don't think i can take the company where it needs to be. i think he can. lemonis: you can. i'm positive. i wouldn't be standing here. i know there's more inside of you, and i'm gonna keep digging because i know what you're capable of. lisa: it takes time. lemonis: it does take time, and that's trust. as we build trust with each other, that will help. lisa: that's hard for me to do. lemonis: i know, but i think you trust me more today than you did when you first met me. lisa: yes, i do. lemonis: and hopefully a month from now, you'll trust me more then than you do now. ♪ i've been uncomfortable since the day that i met

maria: my thanks to @bullsbearsfbn, chairman and ceo, jamie dimon., more wall street after this. all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. the lexus es. every curve, every innovation, every feeling. a product of mastery. lease the 2019 es 350 for $389 a month for 36 months. experience amazing at your lexus dealer. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins. to one-touch conference calls. beyond tradi

so jamie dimon will walk in and say, listen, regulations were good. everything was positive.rything is going well. but the problem is for half the country, it's not. for all of the people who suffered during the financial crisis, their credit scores are destroyed. almost half of the black people in the united states, 44%, their credit scores are below 620. they're locked out of the banking system. if you see of the americans who don't have $400 for emergency, they're screwed. but is it these bank ceos' responsibility to fix it? that's what we're going to hear today. >> stephanie, there's a lot of impact in what just said. and an important question. first of all, i have to tell the viewers i wrote three books that were highly critical of wall street. one book that was trying to defend the basic things wall street does that we often forget. what has thanked in ten years? you're right. they took t.a.r.p. money and paid it back with interest and more. remember, the government got more -- >> gofvernment made money on al of that. >> the banking system is obviously much safer than i

more my interview with big bank ceo, jamie dimon.ck. ♪ ♪ ♪ ♪ when heartburn hits, fight back fast with tums smoothies. it neutralizes stomach acid at the source. ♪tum tum tum tum smoothies. also available tums sugar-free. ♪ ♪ welcome back to a special edition of wall street this weekend coming to you from louisville kentucky. part of my inclusive interview with one of the most respected leaders in business today. jp morgan chase chairman and ceo, jamie dimon. you mentioned wages. you raised minimum wage a while ago. bank of america followed your lead.now talking about $20 an hour in the next couple of years. do you worry about the impact of that on small business? a little small business owners a a fact to raise them in which 18 or $20 i had to cut jobs. >> i understand that. i do, i think first of all, it's not terrible, i think is different when people raise the minimum wage it might drive some of the business. i think locally, -- for companies that compete, today, the first time in like a long time, low and wages are like 20 perce

dimon and mr. corbat for your involvement in detroit, coming from michigan, very important work that you have been doing >> the gentleman from texas, who's also the chair

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maria: my thanks to @bullsbearsfbn, chairman and ceo, jamie dimon.all street after this. ♪ (vo) i know what you're thinking. electric, it's not for you. and, you're probably right. electric just doesn't have enough range. it will never survive the winter. charging stations? good luck finding one of those. so, maybe an electric car isn't for you after all. or, is it? ♪ with a lot of other young couples. then we noticed something...strange. oh, could you, uh, make me a burger? -poof -- you're a burger. [ laughter ] -everyone acts like their parents. -you have a tattoo. -yes. -fun. do you not work? -so, what kind of mower you got, seth? -i don't know. some kid comes over. we pay him to do it. -but it's not all bad. someone even showed us how we can save money by bundling home and auto with progressive. progressive can't protect you from becoming your parents. but we can protect your home and auto. when it comes to type 2 diabetes, are you thinking about your heart? well, i'm managing my a1c, so i should be all set. actually, you're still at risk for a f

maria: my thanks to @bullsbearsfbn, chairman and ceo, jamie dimon.after this. openturning 50 opens theuard. door to a lot of new things... like now your doctor may be talking to you about screening for colon cancer. luckily there's me, cologuard. the noninvasive test you use at home. it all starts when your doctor orders me. then it's as easy as get, go, gone. you get me when i'm delivered... right to your front door and in the privacy of your own home. there's no prep or special diet needed. you just go to the bathroom, to collect your sample. that finds colon cancer and precancer. cologuard is not right for everyone. it is not for high risk individuals, including those with a history of colon cancer or precancer. ibd, certain hereditary cancer syndromes, or a family history of colon cancer. maybe i'll be at your door soon! ask your doctor if cologuard is right for you. covered by medicare and most major insurers. maria: welcome back. coming out here on the program next weekend, join me for her university professor of economics, can -- my special gu

dimon: no. rep. velasquez: when working families and see that that their tax cut is set to expire by your andany's is permanent making $2.5 billion in a single year, can't you see why so many americans find your income any quality comment disingenuous? can you see why that position strains credibility? mr. dimon: yes, but is and correct. the american government reduced corporate tax rates to make america competitive. global news, 24 hours a day on air and @tiktoc on twitter powered by more than 2,700 journalists and analysts in over 120 countries. reclaiming my time -- deny rep. velasquez: reclining my time. paysimon: this group all employees quite well. competitive business will drive wages and jobs over time -- what we do in individual side is separate, so in the same letter, i supported expanding -- >> i yield back. >> thank you, the gentleman from oklahoma, mr. lucas is recognized. rep. lucas: thank you. i come from a multi-generation group of debtors, so i understand my perspective as a customer

more my interview with big bank ceo, jamie dimon.right back. ♪ ♪ ♪ there are roadside attractions. ♪ and then there's our world-famous on-road attraction. if you've never seen yourself in a mercedes, you've never seen these offer. for just $479 a month0 at the mercedes-benz spring event. hurry in before april 30th. 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) ♪ ♪ welcome back to a special edition of wall street this weekend coming to you from louisville kentucky. part of my inclusive interview with one of the most respected leaders in business today. jp morgan chase chairman and ceo, jamie dimon. you mentioned wages. you raised minimum wage a while ago. bank of america followed your lead.now talking about $20 an hour in the next couple of years. do you worry about the impact of that on small business? a litt

maria: my thanks to @bullsbearsfbn, chairman and ceo, jamie dimon.yes ♪you will see ♪what you mean to me ♪don't tell me it's not worth trying for♪ ♪you know it's true ♪everything i do ♪i do it for you ♪yeah, i would fight for you♪ ♪i'd lie for you ♪walk the wire for you ♪yeah, i'd die for you ♪you know it's true ♪everything i do ♪i do it for you maria: welcome back. coming out here on the program next weekend, join me for her university professor of economics, can -- my special guest next week and were here. i will see you sunday morning on the fox news channel 4 "sunday morning futures" 10 am eastern live when a congressman joins me to talk about the mueller report and a lot more. cassia program live it to name eastern on fox news. plus right here in fox business, weekday sixth&i name eastern, mornings with maria right here on the fox business network sixth&i name eastern. that will do a first for this weekend. thank you for joining me. we will see you next time. gerry: hello and welcome to the wall street journal at large. it is easter and passover

dimon's bank. he said yesterday that he would think about it.much that that is what he's doing today, what can and should a bank do -- a bank saying we have so much capital, we don't know what to do with it, i think the obvious answer is to raise the starting pay at their bank to $20 an hour which is what the competitor bank of america has done. >> i want to ask you about that. but if this is -- let me go back. if this is a hypothetical patricia, where did you or your team get the numbers? >> we went to monster.com and found a job advertisement, current for jp morgan chase and starting pay was $16.50. we went to the apartment websites, we went to cost of living calculator, the food budget for instance, i took from the u.s. department of agriculture, they have a low cost kind of minimum subsistence budget and i am a move in irvine and i know what it takes to make ends meet and pay for gas. we created a modest budget for her. most of the feedback from folks around the country and from folks in the home district of the 45th is that these numbers ar

under dimon, j.p.s been fined $2.8 million over improper safeguards for customers. $65 million for trying to rig a benchmark rate. $135 million from the sec. $13 billion over bad mortgages. and another $1 billion for just a bunch of other scandals. [ light laughter ] and on top of that, every time i go to your bank, the pens have been stolen from the chains. [ laughter ] and how am i supposed to fill out a deposit slip without a pen? and i supposed to bring my own pen to the bank? because no one carries pens anymore. either have more pens or get stronger chains. [ laughter and applause ] also, during that exchange, dimon actually told porter those numbers aren't accurate. so porter responded by posting a photo of herself on twitter with a white board proving that her numbers were accurate. look at that. she literally showed her work. [ light laughter ] this is the first time anyone in congress has ever gotten extra credit. [ laughter ] usually the only math members of congress are doing is counting she

dimon only. for those of you who are new, i would like to let you know what it was like being a member of congress, when the tarp vote came up. our phones were ringing with a mixture, 50/50 mixture of no and hell no, about whether we should vote to save the economy. we were faced to vote for $700 million in taxpayer money. at the time, the cbo estimated half of that would be a loss. that, you should have your staff dig up the roll call vote on who voted to save the economy and who did not. then look over those names carefully. many of them are still in politics. it was one of those moments where i think a lot of members characters were revealed. you see a lot of hankering about the lack of heroes in government. but especially those members who are holding down tough seats and voted to rescue the economy, knowing what it would cost them. the melissa beans, the patrick murphy's who lost their seats, and me, who lost our seats come after taking a vote that they knew would be politically destructive.

jamie dimon says everything.uld make one of the two houses of congress term limits, and cut out gerrymandering. i think that would solve a lot of our problems. david: that's important -- alix: that's important! [applause] [laughter] david: that's her platform when she runs. coming up, tesla hits the brakes. model three deliveries hit the brakes -- three deliveries hit the point -- three deliveries disappoint. this is bloomberg. ♪ ♪ david: tesla shares getting crushed in premarket after a drop in deliveries. taylor riggs has more. taylor: shares are off more than 9% this morning with a slow number of deliveries, about 63,000 in the first quarter, below the 91,000 they were able to deliver in the fourth quarter. , specifically with model three, the company delivered just under 51,000 in the first quarter, missing estimates and less than the previous two quarters. this really is a setback, given that tax incentives were falling. i want to take a look at what is happening premarket. shares off more than 9%, down 265.

dimon? >> we do mystery shopping, and like citi, we periodically question our customers, do they like the products, like the service. also, we have hotlines for employees who think we're making a mistake, for customers who think we're making a mistake, and obviously we respond to every regulatory issue that comes our way, to make sure we're trying to do the right thing every day. >> right, good. thank you. >> we have a different business model. we don't really do mystery shopping because you have to open a relationship with a financial adviser. we use technology, various algorithms to track the activity in those accounts. >> good. thank you for that. >> we have mystery shopping that is done routinely and has been for many years. it is done in our compliance function and our enterprise test function. >> good. >> we study our clients and competitors directly and through the use of technology. >> we don't have branches, so we don't mystery shop. >> we have a different business model. our consum

what did you make of jamie dimon's letter? >> i thought jamie dimon's letter was fascinating. letter, part candidate application almost. it seemed like he was getting ready to run for president. i don't think he will actually do that but he spent a lot of time talking about the public policy ills that we have, everything from capitalism versus socialism to student debt to infrastructure, to excessive regulation and laid out potential solutions. while i didn't agree with everything he said especially on his take on capitalism versus social programs i thought it was just a very interesting take and certainly a must read as his letter always is. charles: what thing didn't you agree with? what part bothered you? >> he had too much reliance on central planning and social programs. certainly social safety net makes sense to some extent but he didn't really get into the difference between centrally-planned economies and socialism. and the fact that the government is never an efficient allocator of resources. everything the government has been involved in has gotten screwed up. he did

is jamie dimon correct? how should investors prepare for more volatile times ahead and which direction? volatility could mean up or down. we take it to our floor show traders. sarge, i will let you tackle this one safe and sound from the new york stock exchange. >> you know, i have been telling you probably for over a year now how to tamp down the volatility within your portfolio based on screening your cash levels higher or lower from week to week. i think that's where he's going with this. if you look, it's 51 pages, there's a lot of information here, but if you look, he seems to get where the cries of the poor are coming from. he mentions infrastructure, mentions taxing the higher end of the tax bracket a little harsher than they are taxed right now, all while steering these folks away from socialism. i think what it sounds like to me is a centrist candidate for president. what do you think? liz: i have no problem with that. somebody who is fiscally very conservative and smart and socially centrist or lib

jamie dimon, these people are saying enough.e're not going to sit here and let our plan be destroyed. we're going to talk about it now we have to move on. >> we do dow is up almost 100 lyft above 72. tesla off the initial lows bob pisani >> straight up, intel, boeing, caterpillar, industrial strong here semi conductors opened flat. that's been the big market leader, up fractionally, consumer discretionary, retails have been strong recently. energy opened flat it's also fractionally to the upside the battle right now is about people who are on one side or the other of the bottoming narrative. it's about europe and china and what's going on over there the basic idea here is 40% of the s&p 500 earnings are outside the united states. china and europe, the growth decline we've been talking about for six months is bottoming. this is the bull argument right now. u.s.-based earnings are strong here earnings should stabilize in the low-single digits this year. this is the bull narrative there's a bit of a problem with the bull narrative

shuffle at the top of starts a biggest bank fresh discussion about succession plans after the jamie dimonr. not that we are getting close to that yet, but when we do, mark my word. take a look here. we have the german bund yields, rose up to eight basis points yesterday, we are coming down a little bit below that. similar to what you would see if you look at u.s. yields, creeping higher but coming downward a little bit as we head weekend.easter that is why probably you will see a risk-off day in europe. futures, we are looking at crosses across the board regardless of what equity index you see that. dax futures down .3%, cac , ftse futures2% down a little less. less than a half hour away from the european open, that is what we see. stocks in asia flipped after the latest batch of earnings from the u.s. did little to boost their counterparts there. earnings from financials and transportation, l weathers, painted a mixed picture. from guggenheim partners, a forecast that the fed pause is pushing back the potential for a recession. >> the bounce back in the economy i think of going into the

we will talk about jamie dimon's letter to shareholders.an yesterday. >> we have raised profitability over the last three years ago. when i arrived, only 40% of our numbers were above assets and today the number is 90%. we are managing the bank in a more disciplined way in terms of regulatory capital. we have sold and bought a lot of assets over the last three years. ♪ ♪ bloomberg "surveillance," francine lacqua and tom keene counting down the hours before we go to lake clooney in italy. francine: the embers that a form ruzetti form. tom is going around with rosetta stone to learn italian. i cannot wait. tom: she writes wonderful, thoughtful articles for bloomberg opinion. let's look at the american bank that will buy all of american banking. this is a complex letter from jamie dimon with some financial depth. we can see that he could talk about maybe the place of america within europe. headlines are real simple. talking about the excellence of his bank and the challenges doing forward, and the american events across the globe, and all of t

shery ahn: really interesting coming from jamie dimon himself. turn to australia because we are seeing consumer staples, now the worst performing sector. how bad is the situation for consumers right now? course, the doom and not the australia is main story, but the extent to which consumer stocks are underperforming is important. they are up this year about half of the overall market. 5% compared to an average 10% for the market or so. realspeaks to some of the pressure the consumer is facing in australia in the economy. our reporters spoke to a fund manager who summed it up pretty well -- she said weakness in the housing market is ultimately causing consumers to feel less confident and do further spending, and indeed, that is kind of what the data is showing and prices in the market are showing us. we have been hearing from the corporate side, of course. the likes of woolworths and kohl's, both sounding particularly cautious over the last couple of months or so, and of course, the rba themselves talking increasingly about the markete the housing

dimon and i think that's why i found this tweet particularly disheartening. i took mr.at his word that he will think about what americans should do and how we can improve the economy to ensure prosperity for every american family. there are a number of responses to that with increased wages being one of the pockets, we have asked chase to consider raising their minimum wage to meet that of their competitor, bank of america. the other thing he could be reflecting on is the importance of lowering healthcare costs, prescription premiums, tackling the problem of housing affordability. he is one of our nation's most renowned business leaders and i would welcome his help in trying to solve the problems that american families are facing not belittling them. >> thank you for going over all of thighs topics with us. >>> a u.s. army veteran charged with plotting terror attacks in the l.a. area. find out why the fbi says he wanted to carry these attacks out in the first place. that's next. to look at me now, you don't see psoriasis. you see clear skin. you see me. but if you saw m

clearly, jamie dimon wasn't afraid yesterday.socialism, which is being embraced by the democratic party, his old party, he used to consider himself a staunch democrat, socialism will lead to authoritarianism. said that point-blank. i think we need -- probably need to hear more of that from the business community. did not take any shots at donald trump. that was interesting. he and donald have gone toe-to-toe on various issues. but he did basically talk about free trade and he thinks some of the president's trade policies are misguided and is going to hurt the economy. so listen, you know, of all the corporate leaders i cover, there are a few good ones, he's at the top of the list. he's the reason why, you know, i guess jpmorgan is the most successful bank in america and why people think he could be a president of the united states. back to you. liz: he rivets crowds, certainly. i think a lot of people in america might say they don't feel part of one party or the other right now. charlie, thank you very much. >>> to our exclusive,

there is a live shot of jaime dimon. >> look at his suit.ver hired anybody? >> well, you got cramer here you got two-minutes left to talk to him he's saying all this stuff about -- he's kind of debating, i think. >> what did he do wrong? >> going back to the issue you and i were talking about before which you may think he did something wrong. the company decides to distance itself from gun maker and there is a whole number of republicans and lawmakers who plan to grill him. >> he turned money down. he also turned the nfl down. maybe they'll focus on that. he's going to be a high draft pick >> here is a question, jim are the hearings going to move the needle on the bank trade banks every few years they don't mess up, they don't make a mista mistake. that was it. i thought that was a fabulous question ended the narrative >> i don't think how long it is going to last. >> come on, thumbs down, joe look at that guy, who's that guy? ridiculous anyway, to tune to on cnbc 1:30 p.m., eastern, steven mnuchin will appear on the exchange following yeste

viewers can catch more of jamie dimon's interview this morning on "mornings with maria." cheryl: all right. we've got a lot more news and we want to of course talk about that right now. the mueller report, we are just a few hours away from the release to congress. but there is a big battle that's been brewing on capitol hill over how the probe is being unveiled to the publi pub and po congress. lauren: it's just the beginning of the action. griff jenkins is live at the department of justice with on what we can expect. >> reporter: this is the day everyone's been waiting for in washington. the entire country, along with congress of course will finally get to see that nearly 400 page mueller report in its redacted form. we expect to see two things for certain, one is more about the ties between the trump campaign and russia and there was no collusion between the two and we'll learn about the question of whether or not there was any obstruction of justice on the part of anyone. that will be very interesting. at 9:30 a.m., the department of justice building behind me, attorne

and chase ceo jamie dimon to tell the banking chair that the government took over student loans in 2010 during the obama administration when she was in congress. paul: and voted for it. >> i guess they were just to discrete to ask her what she's doing to clean up that mess. paul: remember, if you have your own hit or miss, be sure to tweet it to us. that's it for this week's show. thanks to my panel and thanks for watching. i will see you right here next we're going to leave it there. i love you, sweetie pie, have a great night. >> from the fox studios in new york city. this is maria bartiromo's wall street. maria: happy weekend. welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm mariat, sheila bair is with me to talk about the grilling of the bank ceos this week on capitol hill.

if you own financial assets, that's jamie dimon does.n't, you're out there in an economy and seeing small incremental growth. >> to that point, if you own fim assets, this is a winning economy. that's the same economy that elected president trump. it was the haves and have-nots only getting more exaggerated. the fact that jamie dimon is talking about that, of all people what does that tell you? >> i trust his point of view, he did see and foresee some aspects of the financial crisis. the bank he ran largely side stepped some of the biggest issues that occurred during that period. i'm concerned that he sees weakness ahead. just a few weeks ago he said the economy is fine. he changed his mind in rapid order. i wonder what he's seeing on his loan books that could suggest the consumer may be slowing down, which accounts for 73% of economic growth in the quite what is he hearing from other ceos about the pace of economic froth. what is behind this letter? it's an abrupt change of position. >> i also think it's interesting that jamie dimon exp

dimon goes on to say it could go on for years thumbs up for the next leg of a rally? mark, chief with montgomery scott and randy warren chief investment officer of warren financial service mark, why don't we start with you. is this rally just a little bit of rocket fuel from the bank reports today? >> certainly didn't hurt needless to say, not only in terms of the actual results which at the end of the day, what is key to market behavior, the report from jamie dimon, extremely encouraging. anyone in the perch he exists in, overseeing the biggest bank in america but on top of that, one who is involved in various aspects of the economy and importantly, the credit impulse which is so important to understanding the dynamics of deteriorating credit conditions and loan demand expanding, making comments about that is not just him talking his book but rather, is indicative of what he's seeing and i think bullish and in fact, very complementary to the view we've had all this year. obviously, for my years, it was welcome. >> randy, let's turn to your view and whether you think

global is jamie dimon and by the way the business press didn't pay attention to this in the context of earlier criticism of the president strategy on trade. here he is jamie dimon the leader of the biggest bank in the country said when asked to president trump should have gotten an a to the trade dispute with china. >> absolutely we should have. i think lighthizer and mnuchin have been doing a good job. they have made a huge amount of progress in detail. whatever that means for the economy. lou: well that's quite a remarkable statement for jamie dimon who have opposed this president, who had criticized the trade dispute and by the way the business press reluctant to acknowledge that jamie dimon was now supporting the president's policies in a reversal for him, but good for him. join me tomorrow on "watters' world." this is very important, 8:00 p.m. to four night we will be taken up the president's visit to the border the radical dems the rino's efforts to block this president and all of his efforts but especially to build the wall on the border despite the national merchant sea. joinin

morgan, a fresh discussion about succession plans after the dimon era. manus: very good morning to you, thursday morning. how does your risk appetite look? the 10 year government bond yield, if you believe me in terms of no recession until 2021, do you need to buy bonds? do you want to sell bonds? moment, we are fading the move ever so slightly, stronger demand in asia. the yield curve steepening as the economy improves. we will talk about how strong that is, shortly. tracy, wes, i said to hit a nine-month high in terms of futures yesterday. china's stellar construction will bolster. let's look at those markets, copper and wti. the market will extend its rally in copper and aluminum. a little break on that this morning. wti back to the green. u.s. stockpiles dropped, and bloomberg intelligence says libya could risk and outage up to one million barrels a day. of risk assets, we have to talk about u.s. equities, there was a halt to the rally yesterday. the s&p 500 closing lower. the nasdaq closed flat. .utures down 0.2% we do not see a sixth day of gains a

dimon? >> i don't think people should go to jail for jumping a subway.eople into jail. i think if people broke the law, they should go to jail. >> okay. do you think that the failure to hold more people accountable for the 2008 crisis is a failure of our legal system? >> look, you have to talk to a lot of legal experts about why more people didn't, whether they deserved to, whether they broke the law, what's intent, what's not intent, but you have to talk to legal experts about that. >> on that note, mr. dimon, i do want to commend you for your decision to pull out of financing for private prisons. i think that that has led to some changes particularly with wells fargo as well, in making sure that we begin to divest from some of the troubling things we are seeing particularly when it comes to the caging of children at our border. i have one last question with respect to the more future looking. recently the federal reserve board decided not to activate the counter cyclical capital buffer this year but banks are very profitable, making a record $237 billi

dimon?r banks, larger banks overseas who can do the business >> that means we less influence in the global financial markets, right? would you say, mr. dimon, we're a leader in global finance >> i think that america is a leader in global finance, and i hope to god we remain that for the foreseeable future >> that political division means we're unlikely to see significant policy come out of today's hearing. separately, the bankers will ask what they see as the biggest threat to the u.s. financial system >> what do you think the biggest risk to our financial system is today? >> our ability to talk ourselves into the next recession. >> the global growth is slowing. u.s. growth is slowing a little bit. global growth is growing, and ultimately that will have impact on ability to serve as credit around the world, and that impacts the financial system >> cyber certainly first i also would say slowing growth around the world, but in particular the difficulties that lie ahead in the relationship betw

just as jpmorgan ceo jamie dimon says the american dream is fraying.n there is a billionaire hedge fund founder ray dalio with his warnings last night that american capitalism could result in another revolution. so are they on to something? if so, what exactly is it? joining me fox news contributor liz peek and from "the wall street journal" jillian melchior. i don't disagree capitalism need to defend itself, to reform, to grow a little bit, i don't know that you can have hard adam smith kind of things in a world with the amazon, internet and a lot of americanslegitimately fr. >> i just don't want to hear a lecture from billionaires. capitalism did just fine. he is talking about how he got his start at 12 years old mowing lawns, invested in the stock market. now he is a billionaire. i think is completely outrageous. charles: isn't making a argument for america? >> he is. we have a be a little skeptical when a billionaire brought me all success and money will not work for you. that makes me skeptical. i will point out this week, stephanie myers, stephan

jamie dimon. >> i think the united states is going to be okay and again i could be wrong.'t predict that. we run the company we will serve our clients regardless of the economy and we want to be there in bad times for our clients and also go around the world. japan is growing a little bit, europe is growing a little bit, germany slowed down but europe is growing over 1% i think china will make 6% brazil went from negative four to zero there are positive signs people tend to focus on the positives and negatives if you made the whole list there's some bad things out there and good things, and we'll see. liz: okay, the voter then, the economy is doing well, but then you got bernie sanders not answering questions about his economic policies to overturn the u.s. economy, right? >> well if he gets the nomination he's going to pretend socialists what's that never heard of it. he's going to try to pretend he's real really a centrist at hard and people like donald trump will ask themselves do we want to jeopardize the first good economy we had in a generation where these people who