goldman has a big dark pool, sigma x. we should point out that for weeks we were hearing rumblings that goldman sachs was going to shut down sigma x as the lewis book was coming out. they denied it to us. the journal did write a story that said they were thinking about it, but they're not going to do it. it might not be in their power after this. we should point out that the new york attorney general has pretty tough regulatory, has a pretty big regulatory bat known as the martin act.

goldman sachs has one of those known as sigma x. liz: is it possible that goldman so big, right? squid? >> the vampire squid. liz: that maybe the people who were speaking out for the new way of trading and against high frequency trading weren't quite aware of the dark pool? >> no, no, they were, because gary cohn who penned an op-ed in "the wall street journal" which talked about right before the lewis book came out saying i have problems with the -- you should read the op-ed, i don't want to paraphrase it, but it was an anti-hft op-ed, and it's kind of weird because this shows you how weird wall street is. it's like they play every side against the middle. while he was doing that, vinnie vie until la is a high frequency trader, it was going public, planned to go public. they pulled the offering. guess who was their lead banker? goldman sachs. very good friends -- liz: was twitter involved somehow? >> guess who's very good friends with gary congress? vinnie viola. vinnie ran the new york merc. liz: one of the early country6m ones. -- early ones. >> this is such a bizarre, conflic

for goldman sachs, it's not a big chunk.upfront capital that allows them to expand in ways they would not be able to otherwise. this? is goldman doing why is the wall street giant taking interest question are >> banks would tell you it's customer demand. they say impact him besting is a big day. they can do good with their portfolio while also making money. >> are you are also talking about social mores, about societal, cultural, ethnic -- you are talking about a lot of things that can or cannot be controlled by the dollar. >> absolutely. that's why they give the money to social service nonprofits. much theyrated how invest in the companies and they say helping out society in the greater good is good for us also. >> how much does goldman stand to make off of this? >> it's not like a traditional bond. the returns are couched all stop they would only make a billion dollars if the recidivism drops. thatu note in your story the united states has 2.2 million people in prisons and jails and the national research council says that

no doubt that is what goldman pulled off of simpson during the fight they had. he pulled the stocking cap off. he pulled the glove off his hand. when simpson went to the final stabbing wound to ron goldman, he probably stabbed his own finger on his left hand and he just left. >> go through the evidence. what else? >> this is the left-hand glove that was left here at the scene here. there was bloody shoe prints in this area that went all the way down with blood dripping to the left of the bloody shoe prints. size 12 shoe we knew later. going back to a gate. at that gate, shoe prints continue. blood to the left continues. to the alley, where the suspect most probably got into a vehicle, the blood stopped. >> there's nothing ex-cup pa toir. everything pointed at him. his blood's ail over the crime scene. nicole's blood is in his bedroom. there's no unanswered questions here. >> unaware of the couple's rocky relationship and worried about the young children, if you rememberman, lank and other detectives heard to his nearby estate. he's not home. but his adult daught

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goldman sachs is the lead underwriter.t matters so much being the lead underwriter, they have other ipos in the pipeline including this alibaba thing. so you remember a couple years ago -- more than a couple years ago, about ten -- liz: are you going to say jack rudman? >> jack rudman, those analysts were all investigated by elliott spitzer and the sec, the former new york attorney general, and eliot spitzer created this thing where it was supposed to remove conflicts of interest from wall street. well, they still exist. liz: let's just explain that. analysts sit far from the investor bankers -- >> allegedly. liz: we think twitter is not a good business model right now, say analysts. the investor banker guys are trying to get the twitter business, so they're supposed to be separated. >> right. but the analysts really don't say that, and here's why. the analysts are paid by the deal as well. [laughter] so what they do, it's a combined effort, and right now we have every major firm largely mum on all this tech stuff. i mean,

we can save on incarceration costs and payback goldman.cidivism goes down way more, goldman will stand to make $1 million in profit, but that ped at that one lane dollars and will not go above that. >> and the excess would go to the state? >> yes, it would go to the state. >> the idea is that money that would be spent on incarceration them afterk to helping them. >> exactly. it is going back in time and preventing those costs from skyrocketing. >> what does goldman sachs or , ak of america or a pax private equity firm that was the first to social a -- two sponsor a social impact bond, what would they say to the critics who would look at this and it missed $9 million isl -- not much of for a company that makes billions. that this is windowdressing? >> sure, there are concerns that they may not get these things done. >> why not just give the money away? >> because they want to do create -- to create a market for this. in other words, the capital would come from other places, treasury todman's fund similar programs? >> yes, and this is not ph

goldman sachs management is holding its first idea summit. event, speaking with chief executives and global policy makers. manus janssen, was on everybody's mind today? >> anna, before they even have lunch in this building, they will have touched on the big issues of demographics, energy, europe poised to perform as one of the top lines. it is a demographics that sort of catches my eye. we will catch up with katie koch. we will find out what the ceo of the g summit and fixed income is going to talk about. we will touch about the realms of technology. we have a main speaker here. i will catch up and have the opportunity to speak to nicolas enstrom. he did it once, he did it twice. he sold skype, he bought it act, and he sold it again. back, and heit sold it again. when it comes to the sheer scale done, inennstrom has terms of disruption of technology, there is no better man to talk about the technology stage. we will also have an opportunity to speak with bills and neck -- , currently the chairman of goldman sachs international. we will focus

and certainly changed the life of kim goldman, sister of the late ron goldman. they ta she talks about anger and the chance to get vengeance against o.j. >>> and i'll talk to one mom who used the best kind of internet sensation. a boy who was diagnosed but helped as many people as he possibly could. and did he ever, to the tune of 12 million and counting. it is a story that will melt your heart. >>> but we begin, once again with the political fight over a well-worn topic, benghazi. check out the tweets john boehner announced today, the majority members on the select committee on benghazi, the only line missing, let's get ready to rumble." i am joined now by a man who says not only should democrats attend by that benghazi can actually wind up helping hillary in a run for president. joining me now, lanny davis, and author of the book "crisis tales" five rules for coping can crisis, in business and life. thank you for joining us. >> thank you, and talk about the word well-worn. i couldn't be happier that the republicans are helping to change the subject about why t

goldman sachs, anybody make out like bandits more than goldman sachs during the bank bailouts and songout of this smelling like a rose. this is a financial firm that loves big government. i hate to say it but whenever we have bigger government guess who profits from it? stuart: goldman sachs loves big government? >> look at the people they got a revolving door between people who work for goldman and worked at the treasury department, at timothy geithner air was a bold man. i really believe they have this kind of symbiotic relationship. stuart: you think big companies, huge corporations exert too much power over the economy and politics? >> not over the economy but clearly over politics. we spend $100 billion a year on corporate cronyism and corporate welfare. that is an abomination. get rid of the subsidies to corporate america. stuart: when you just became wildly popular. >> all the -- go to the imf and all these organizations lead small businesses don't get health by that. the big ones do. stuart: you must come more often. don't be a stranger. appreciate it. back to the big corporate

we're not just talking about the usual bruning that goes on in goldman sachs. goldman sachs cuts 10% across the board of lowest producers every year and hires more back. this is the over and beyond that. the reason why, particularly fixed income trading it is a drought right now. gary cohn was speaking at a sanford bernstein conference yesterday where he basically said we'll not sit on our hand to allow this to happen. we have to react. he didn't give anymore specifics. people inside goldman -- melissa: they are not denying this. >> they are not denying this. we'll have a full story on foxbusiness.com. that is where they are, weighing this stuff amid clearly this fixed income drought. melissa: snapchat ceo wishes his old messages would disappear. apologizing very distasteful messages disapfrom his college days. everybody did stupid things in college. this is 2010. he is now head of a company supposedly worth billions. clint what do you think. >> first of all i'm glad i didn't have snapchat or any of this stuff around in college. i think there is something reall

tell me what that means to goldman sachs.come to that in a in terms of the power of the purse. tight together that strand for me which is to graphics, growth, longevity, fertility. order a look at that from an asset management point of view? >> in the pension world, if we are all living longer, pension liabilities will go up. that is hard for the pension funds. from an investment perspective, just to give an example, one thing we would give an example of would the nappies. two years ago, they sold more geriatric nappies and baby nappies. the opposite is happening in nigeria, where you are an explosion of baby nappies. is a very simple example to say that those big transaction can have a big impact, even when you look at the world bottom-up. read.re's a paper i i know you are with one of your colleagues last night when activist paper. i got as far as the power of the purse. it is fascinating, because this is about women come access to capital, and the consequences of women with access to capital. are of the numbers in this qui

eric goldman is the santa clara law professor and expert nint net law. thank you. >> we'll be back in just a minute. >>> that's our show for this week. we have an archive of the show at pressheretv.com. thank you for making us part of your sunday morning.

goldman sachs has no comment right now, but they are, from what i understand from people inside goldmanhe ground, they're being told that unless things turn around, cuts are coming in that, and more cuts are coming to that fixed income trading compartment. liz: stock coming down up off the lows earlier i believe around when you tweeted. is that fair? >> i would think so. what time was that? liz: about 1:30? >> that's it. liz: you're the match, thank you. >> i try. liz: we need to figure out what we're betting. >> dinner? liz: diamonds. by the way, i liked my intro, he's walking down the hall like these victoria's secret models. [laughter] liz: i ad libbed that. >> am i good looking enough? liz: get out. you should stay for this next segment because, boy, are we talking about a disruptive technology. even one that catches everyone's eye such as lingerie retail. we have the co-founder, listen to this, of an app that will help make trips to victoria's secret and the intimate section of the department store a thing of the past. third love, that's the name of the company. and the woman who s

>> from hiring goldman sachs for anything. but i think that here, i mean, 20% revenue decline, that is absolutely awful. i think it probably doesn't bode well for cody either and i would not read into anything for este lauder. >> sears, shares are down 13% since last december. one of its former executives is calling for the retailer to liquidate asap. former vp of corporate strategy. great to have you steve. >> hi. >> he's more of a liar than a leader. what did he lie about exactly? >> actually what i said in my piece is he's either lying or delusional. i think he has not indicated a strategy or articulated a strategy for sears to fight and win in the marketplace. he keeps talking about being an integrated retailer. developing the membership rewards program for them but not addressing the core issues which is having the products that customers want to buy and the places they want to buy them. >> in the recent meeting he said he's going to focus in on stores and be willing to close down or not renew the leases of the less profi

everything from lisa, goldman and goldman sachs declined to come after the white house said it would be best if they stayed away. it is not just u.s. ceos but european ceos are largely staying away. bankmf, the ifc, the world , they have all declined to come. it's pretty clear there's a message here, a signaled president putin that if he will continue with operations in ukraine that there will be a price, isolation and this is what it looks like. that's not to say that nobody is here. we have some pretty serious involvement. the boss of bp is here. they own 1/5 of their largest oil company. clearly, the attendance is not what the russians would like to have seen. it will be an interesting forum without a doubt. we will look at how companies are navigating this geopolitical crisis and how russia itself is trying to get through it. as you mentioned, the economy minister coming up at the bottom of the hour and we will talk to him about russia will try to maintain growth as it is increasingly isolated. the big issues. the geopolitics you mentioned, everyone trying to navigate, it's chang

simpson's ex-wife nicole and her friend ron goldman.son was charged with the crime but then acquitted in what was then called the trial of the century. we'll talk to ron goldman's sister kim in just a moment. but first, a look back at the case that transfixed the nation. >> we, the jury, in the involved entitled action find the defendant not guilty of the crime of murder, a felony upon ron goldman. >> it was a defining moment. preceded by an infamous car chase, and that glove that didn't fit. >> if it doesn't fit, you must acquit. >> but for the family of ron goldman, o.j. simpson's not guilty verdict was a devastating blow in their fight for justice. >> juror number 11, is this your verdict? juror number 12, as to count two, is this your verdict? >> simpson was later found liable for wrongful death in a civil suit and today the former football star sits in a nevada prison cell, serving time for unrelated robbery and kidnapping charges. >> and unless you've experienced what we've gone through, you can't possibly begin to even understand

. >> i would make the former goldman sachs banker jokes. former goldmane sachs chairman?ou for joining us. i want to start with the main tension around the timothy geithner story and that is on the one hand -- >> there is not just one. to be, are one seems you the savior of wall street and the broader economy at the expense of main street and housing and all of these other things? one of the things that struck me in reading the book on my way down here was some of the discussions around how they were formed. i want to read one quick passage from the book. >> you put housing, too, in that same question. >> i will put housing in the same question. >> he got to page 379. >> so this is when you are discussing what options were on the table to help homeowners after the system has stabilized through the tarp program. he said, we do not want to spend tax dollars to help people to stay current but there are fairness issues and political issues around using tax dollars to help neighbors they got in over their heads. bankers,u do for bailing them out through the tarp programs, but

julianna goldman and phil mattingly on backlog at the fed. and a discussion of hillary. >> we begin the program with a former united states ambassador to the united nations and almost every major country, thomas pickering. thank you for being with us. we will get to many of the areas where you have expertise. you were head of the benghazi review board. is there a case for reopening that investigation? >> if there is, i have not seen it yet. i have been alert to this. when i took the job, i knew it was going to be a big issue that had great political overtones. and i tried to watch it very carefully, one of the things i did when i took the job, i tried to read every report that we did our job as well as we could. we did our job as well as we could. i am the last person to tell you we did everything perfectly. >> no one believes your board, your review board, got all of the information and documents. >> of course, we got information and documents on the five tasks we had under the law. for security. we were not there to look at talking points.

. >> goldman sachs has been supportive of your efforts.hat does it mean to have a giant on wall street in your corner? >> it's amazing. when i got the call from goldman the builders and innovators conference and i got an award there. they called and said, we are trying to get in contact with angela benton. it was on. i thought it was a joke. my next question was like, for what? we would like to give you an award. i'm completely honored. association with goldman, how does that help you raising funds with other angel investors? >> the association helps me personally because they backed me as an entrepreneur and believe in the work we are doing. ably we can actually grow this intosomething small something much larger. >> you have a very interesting personal story. he became a mom when you were a teenager. you have lived the stuff and actually have had to overcome obstacles. you are an african american woman. say that therele are too many obstacles that they can to do this, what do you tell them? in being're interested an entrepreneur, the obs

goldman. win, goldman stands to win a little bit as well. >> you're not suggesting that that would influence their analysts. >> no, they hold a lot of e.t.f.'s. but another one in there, argentina. >> a lot of action in that e.t.f. >> another contender for world dominance, argentina. 14% favored to win. argentina, there is an e.t.f. for that. although kind of shakey, doesn't really trade a lot and in fact that market's so illiquid they have to use stocks that have relations with argentina, not actually argentina stocks. it's a cobbled-together e.t.f. >> it's a long shot. >> sure, sure. and germany is an 11% favor to win. >> only 11%? >> yeah. they said that the european teams have never won when the world cup is hosted in the americas. so the odds of germany winning are maybe muted by that. but certainly the i shares, i'm sorry, the first trust alpha desk germany, intriguing because it's a smart beta e.t.f. which looks at fundamental factors. since germany had a 63% run in its stock market, ma

we are live at goldman sachs' asset management ideas summit. hello. welcome to "the pulse," live from bloomberg's european headquarters in london. i am mark barton. >> and i am caroline hyde. >> we begin with our top story. pfizer said to plan a sweet and -- a sweet takeover bid for astrazeneca. westminster is at with more on what we can expect. the countdown continues great -- the countdown continues. >> the countdown continues from that conversation we had earlier with a labour mp. clearly, the ceos are going to face some hostile questions about what their intent is. why are they doing this? are they doing it for tax reasons? there is a different tax regime in the u.k. versus the u.s. or are they doing it because it makes sense for their investors, their boards him a their shareholders, and they want to grow the company here and create jobs? these are some of the questions that will be posed. the committee starts in about 15, 20 minutes, will go on throughout the afternoon. it is really a question for ian about whether or not he has any allies on th

. >> commissioners i'm john goldman of goldman architects the architects for the cathedral. could we get this open the screen. great. so the - oh, okay. so you see a drawing that was approved by planning and drawing and prauptd by dpw and the urban forestry. there's been no changes on the alley those are light green trees we're putting 7 new ones but the issue today is what's happening on valencia street. the tree in red we weren't originally removed but they want to replaced because of disease. those are the two trees with 3 large trees. the appellant failed to note the reason we're removing it two this is the curb cut of the driveway it services the underground gag so we can't get into leaving the garage you'll be hitting the trunk of the tree we're going to plant a new tree a few feet of the west out of the curb cut and with a tree not as large and this tree didn't exist so there will be a new tree and we're proposing to remove that. there's massive steel there's beams 50 feet long we're talking about huge steel we can't get that off the site without cranes. this shows on

sachs because goldman sachs own as dark pool and get the dark pools under control.ery interesting goldman sachs attacked not the problem because it would hurt them to attack the problem which is the dark pools and attacked this side issue of high frequency trading. if you notice, gary cohn in that "wall street journal" op-ed attacked high frequency trading without talking about the fact that goldman sachs makes a lot of money operating one of these markets. it also serves them very well to have price discovery in other markets so they can hide trades. melissa: charlie gasparino. we've got breaking news. we've got to go. thank you so much. we vick brag news out of chicago. flights have been stopped going in and out of midway and o'hare airports. the faa says it is because of smoke in a radar facility. workers have been evacuated from that facility. there is a ground stop in effect that means no flights are going in and out of the city. we'll keep watching this for more developments. this is breaking news out of chicago. there is a ground stop in effect as you can see

indira and julianna goldman on putin and obamacare. greg stohr on the supreme court's power of prayer and margaret carlson and lanhee chen debating the republican establishment and monica lewinsky. we begin the program with united states treasury secretary jack lew. thank you for being with us, mr. secretary. you're taking off for china on sunday. an important trip. chinese growth slowed from 10% to 7.4% percent. how likely is it that the chinese will introduce new stimulus measures at the extent of their economic reforms? -- at the expense of their economic reforms? >> al, good to be with you today. it is of profound interest to the chinese and to us. they have a lot of tools that they will continue to grow but they have to make the right policy decisions. the challenge they have is the trade-offs between reform and short-term growth. i encourage them to stay on a reform agenda. there's the market determining prices between domestic and international. goods and services. they obviously have to worry about their situation. we all have

adam goldman. he has done extensive investigative reporting on cia secret prisons. on skype, karen greenberg, director of the center on national security and sebastian gork a, military affairs fellow at the foundation for the defense of democracies. welcome, everyone, to the show. adam, 10 years since everybody at abu ghraib was exposed. i remember at the time, there was public outrage. there was this incredibly high visibility in the media, in congress, and i think there was a sense of the american public that when it gets this much attention, obviously something is going to shift. has anything shifted significantly? >> i can tell you what hasn't shifted. we are still talking about quote, unquote torture. we are talking about what the american government did to these individuals in abu ghraib and more recently, what the cia did as part of this program to detainees and black sites, you know, across eastern europe and in thailand. and it seems that the government, the u.s. government, just can't escape its past. >> karen, by not escaping its past, does it continue it

that tracks estimates put up by goldman sachs and other groups early on so this is probably right. most people who were uninsured and got coverage on obamacare ended up on medicare. and most of the people who got private coverage from the exchanges were people dropped from their existing private coverage or people who self selected to take advantage of the subsidies. >> so, doctor, when the obama folks come back and say, well, an enrollee is an enrollee is an enrollee, part of the affordable care act no 345matter what the says, you say? >> we're expanding medicaid and the problem is the medicaid program isn't serving the poor very well and we haven't done anything to fix that program. by putting more people into medicaid and not channeling more resources into it, we'll probably exacerbate the strains. it's very hard for medicaid patients to get access to care because providesers are paid so little under that program. >> so it sounds like you're getting more but you're pushing that to the max. now with an affordable care act that is hemorrhaging with key exchanges in now half a doze

goldman sachs saying gold is headed for a slow grind lower.sing time for gold in terms of global growth and also in terms of stock. you tend to move inversely to each other. there is a physical demand from china that tends to weigh on gold. that could mean a slowdown for the gold market. for on the market, on alix steel. ♪ forhis is "taking stock" tuesday, may the sixth, 2014. i am pimm fox. the theme is balance. angeles isel air los trying to find balance between politics and business as protesters, including jay leno, take a stand against the owner of the property, the sultan of brunei. we will tell you why there is a boycott. finding a balance is a way of life for professional bike riders.

goldman i think right now, firing people in that division, hiring in m&a. hire that many in m&a to make money. >> a lot of people are all out in m&a. goldman always good figuring out where the puck is going as opposed to -- >> right. that's the gretzky would tell you that's the gretzky way. >> you like it -- >> buy back stock -- >> i don't know -- >> that's never been roy blankfein. where is the stock going to be. maybe he should call us come on saying we are buying back stock. if any place will reinvent itself it will be goldman. >> a number of managements in the city group on tuesday saying listen, it's thin margins, low rates, mortgages soft, sluggish trading overall. let's move on. >> this is a company that i have had on many times on "mad money." this is the best security company, fireeye no offense, very good technology. but i felt palo alto is the gem, but they had a problem and every time they came on i had to talk about the juniper lawsuit. how much were they going to -- one of the classic -- this is, you know, juniper says it's theirs, palo alto -

julianna goldman reports democrats are looking for some competition. let's begin with the phil mattingly and efforts to control high-frequency trading. good afternoon. >> good afternoon. the first in what is expected to be a series of congressional hearings, u.s. lawmakers dug into high-frequency trading and outlined some concerns raised by the like it -- by the michael lewis book at one of the biggest questions -- our new rules coming? the answer, maybe. one of the big questions for the cftc director of oversight is where is the cftc in the drafting and what will the world look like? here is what he had to say. >> the concern that we have heard, at least in comments, is int prescriptive regulations this area can be quickly outstripped by changes in technology. so proposals that have come back to the commission have said we should have more of a runcible-based approach. i think the challenge that we have is flexibility versus clarity. no timeline right now on when rules might come through. he said at this moment, cftc commissioners are working on a con

some of the so-called smart money is, too, according to goldman sachs.details. >> thank you so much, scott. goldman out with the analysis of hedge fund performance through mid-may, and it isn't pretty. hedge funds lagged the s&p by 2 percentage points, delivering zero return, and part of the problem is consumer discretionary names. meanwhile, getting out of information technology names and using etfs to short things like emerging markets, equities, real estate, gold, and bonds. take a look at the most popular hedge fund longs, according to the latest filings. google. apple. gm. aig. and time warner cable. no huge surprises there. we knew folks were playing pretty heavily in those names, but on the short side interestingly, goldman thinks hedge funds have the biggest short positions in gilead, at&t, ibm, exxon mobil and intel. i say think, scott, because this is obviously based on aggregate short interest. >> sure. >> we don't know exactly where the hedge funds are. but goldman says they tend to do most of the shorting in the market. >> if that's the case

it's true that the treasury had a successor of leadership that came from goldman sachs. but people looked what we were doing and looked like we were rewarding them and they would say, naturally, why are they doing that? why does that make sense? why is that necessary? it must be because they have personal interest or are captured by them -- >> charlie: or they perceive the world -- that's really what it is, but they look at the world through the eyes of an investment banker. that's who they have been associated with, what they did and know. even you, you could argue, i mean, the people at the fed or when you were a treasurer, you're dealing with ph finance s around the world -- >> that's a perspective. but the alternative perspective is i grew up watching financial crisis happening outside the united states, watching how damaging they could be, watching with people playing with the hope the fire burns itself out, watching where they're not prepared to take risk, watching politicians having aversion to the rescue and the impact it had on the countries, watching how fragil