goldman: mr. giuliani very active and involved in pushing for the investigations for several months before the july 25 call and for several months after, including apparently three days ago. in yourastor, you wrote report, rudy giuliani, the ukrainians themselves knew that rudy giuliani, the president lawyer, was a conduit to convince president trump that president zelensky was a serious reformer. ukrainians -- >> isn't that what you said? he was a conduit? slide 14, we have your report here. knewys, the ukrainians that rudy giuliani was a conduit to convince president trump that president zelensky was serious about reform. in fact, during the call, president trump asked president zelensky to speak to his personal lawyer about ukrainian matters that president trump was interested in. mr. castor: you are referring to rudy, yes. >> president zelensky said, we knew that and he has been in touch with my aides. correct? mr. castor: that is right. ukrainians are the one that resident zelensky brings up

goldman? >> yes, there were 17. >> and i count a dozen career state department and national security officials who served republican and democratic presidents alike, over decades, who came to testify. in fact, four of president trump's own national security council's staffers, hill, vindman, morrison, and mcguyer, came forward to report trump's scheme to nsc lawyers as soon as they learned it, didn't they, mr. goldman? >> morrison and vindman went to the lawyers as soon as they learned of it. yes. >> they went to thele lawyers. and that moved mey a lot becau my father was a staffer on the national security council under president kennedy. and he said the most important thing you can bring to work with you every day is your conscience. and he devoted his career to the idea that people must speak truth to power. when power becomes a clear and present danger to democracy and to the people. so i want to talk about two of the many honorable government witnesses who went under oath and stood up for

goldman? >> yes, i saw that interview. >> mr. castor, you visaw that interview? >> i'm aware of it. >> in fact, isn't it true that none of the witnesses that appeared before your committee testified in support of the theory that ukraine somehow interfered in our elections. is that right, mr. goldman? >> that is absolutely correct. >> mr. castor? >> that's correct but -- >> thank you. no witnesses testified in support of that theory before your committee. mr. goldman, isn't it also true that your committee, in fact, received testimony indicating that there is evidence that russia is in part perpetrating this false theory that ukraine interfered in the 2016 elections because russia wants to deflect blame for its own involvement? >> that's correct. we had evidence of that and i think it's very important to emphasize what is evidence and what is pure media reports or speculation because there is no evidence in our investigation that ukraine interfered inthat e interfered in the 2016 election. >> i

goldman. the ambassador called it ar drug deal and as a kingpin the president try to force a foreign government to interfere in the upcoming presidential election. it is undisputed and overwhelming that rudy giuliani acted as part of a conspiracy to obtain help for president trump in 2020 election. this was not just a hurtful drug deal but the attempt to undermine the very fabric of our democracy and the framers feared how an influence can turn a president to adopt impeachment as a backstop to protect ourey democracy. and to use that remedy and i yield back. >> with the august 12 whistleblower complaint on page one he says over the past four months more than half a dozen us officials who are officials quex. don't know. >> we never got to talk to the whistleblowers we have to figure out before the basis of theed complaint adam schiff got to adam schiff knows who he is and with those six people and 17 depositions the lawyer doing the work. >> and there is one witness who is that? >> ambassador s

goldman.ambassador bolton called it a drug deal. as a kingpin, president trump tried to force a foreign government to interfere in the upcoming presidential election. the evidence is undisputed and overwhelming that rudy giuliani acted as part of a conspiracy with president trump to obtain ukrainian help for president trump in the 2020 election. this was not just a hurtful drug deal. this was an attempt to undermine the very fabric of our democracy. the framers feared most how foreign influence could turn a president into a despot. so they adopted impeachment as a backstop to protect our democracy. the facts, ladies and gentlemen, demand that we use that remedy today, and with that, i yield back. >> the gentleman yields back. mr. jordan. >> thank you, mr. chairman. mr. castor, i want to go to the document that started it all, the august 12th whistle-blower complaint. bulletpoint 1 on page 1 of the whistle-blower's complaint, he says this. "over the past four months more than half a dozen u.s.

goldman? >> yes. there was 17. >> and i counted dozen career state department and national security officials who served republican and democratic presidents alike over decades who came to testify. in fact, four of president trump's own national security council staffers, hill, vindman, morrison and maguire came forward to report trump's scheme to nsc lawyers as soon as they learned of it, didn't they mr. goldman. >> morrison and vindman went to the lawyers as soon as they heard of it, yes. >> and that moved me a lot. because my father was a staffer on the national security council under president kennedy and he said the most important thing you can bring to work with you every day is your conscious. and he devoted his career to the idea people must speak truth to power when power becomes a clear and present danger to democracy and to the people. so i want to talk about two of the many honorable government witnesses who went under oath and stood up for the truth. mr. goldman. who is dr. fiona hill. >>

accurately is addressing there that goldman wants in to >> the difference is that goldman bought unitedapital for $700 million and they bought probably the most platform created and morgan has not done that yet >> but they have all the welt management and all of the order flow goldman does not have that yet >> i just got finished saying that -- >> 700 million versus what morgan stanley already has with the 30,000 -- >> let me stop you they paid $700 million >> i know. >> tens of billions of dollars in assets but the point is morgan stanley already gets credit for being heavy into high net worth and management >> they're where they want to be >> so, that's the point. if you think goldman is going to succeed at this. that's where the upside is morgan stanley has more from -- >> i don't agree with that >> i don't either. >> i do think, though, it's really interesting because, you know, those models are really diverging. so, before i would have felt like five, ten years ago i would say morgan stanley and goldman are competitors but their models are diverging. i think we own goldman not we d

goldman? >> yes, 17. >> i counted dozens of state department and national security officials who served democrat and republican presidents over decades who came to testify. in fact, four of president trump's own national security counsel staffers, hill, vindman, morrison and mcguire came forward to report trump's scheme to nsc lawyers as soon as they learned of it, didn't they, mr. goldman? >> morrison and vindman went to the lawyers as soon as they learned it, yes. >> that moved me a lot because my father was a staffer on the national security council under president kennedy and he said the most important thing you can bring to work with you every day is your conscience. he devoted his career to the idea that people must speak truth to power when power becomes a clear and present danger to democracy and to the people. so i want to talk about two of the many honorable government witnesses who went under oath and stood up for the truth. mr. goldman, who is dr. fiona hill. >> she was the senior

goldman? >> yes, there were 17. >> i counted 17,000 officials who served republican and democratic presidents alike who came to testify. in fact, four of president trump's own national security staffers came forward to report trump's scheme to nsc lawyers as soon as they learned about it. didn't they can make mr. goldman? >> morrison and vindman went to the lawyers. yes. >> that move me a lot. my father was a staffer on the national security council under president kennedy and he said the most important thing you can bring to work with you every day is your conscience. he devoted his career to the idea that people must be truth to power when power becomes a clear and present danger to democracy. and to the people. so i want to talk about two of the many honorable government witnesses who went under oath and stood up for the truth. mr. goldman, who is dr. fiona hill? >> the director of the national security council until this year. >> her family had fled both nazi germany and soviet russia. >>

as it applies to goldman sachs, this is not your grandfather's goldman sachs.s is more of a modern tech firm. two statistics on goldman sachs employees. one out of every goldman sachs employee is a technologist. 60% of goldman employees are under 30. this is not a baby boomer firm. this is more of a firm that is digital natives. now we see goldman sachs coming out with all these changes to accommodate the digital natives. at first, i was like, what are they doing? this seems like a bunch of platitudes, a bunch of lipservice. then i read dr. albright's book, and i was educated by that, and also followed up in conversations with dr. albright. fromlbright helped take me the 20th century to the 21st century when it comes to understanding culture and tech culture, and the modern culture of corporations. vonnie: there are parts of it the is specifically not classic tech culture. 60% under the age of 30, as mike said. dr. albright, how does your work apply to an investment bank? does this type of change need to happen across corporate america? is it harder for an inve

goldman. are you here as a partisan advocate for the democrat position or are you hear as a nonpartisan investigator of the facts. >> i'm rear to report our investigation which was totally and completely reliant on the evidence that we uncovered, the witness testimony and the documents. >> are you a partisan? >> i'm not a partisan. >> mr. castor how long have you worked for the house. >> since 2005. >> and same question, mr. goldman. >> for the house since this year. >> do you make any political donations? >> i don't remember. >> do you make political donations. >> yes. i think it is very important -- >> you've given tens of thousands of dollars to democrats. >> i think it is important to support -- >> have you given over $100,000. i don't care about the basis. >> you don't care about it. >> the basis. i just want the number. >> i don't know the number. >> do you know how much money mr. burk has given democrats. >> i don't know and i don't see the relevance. >> is it more than $100,000. >> and

ceo of goldman sachs, a job you did not aspire to.ou know what it was like when we graduated from college in business school. if you wanted to run something, you did not go into financial investment banking, you went in because you liked the markets and wanted to work with clients on multiple projects. that is why i picked goldman sachs. in 1994, the firm had problems, i went off to new york. nextd we will pick the heads of the firm, and said i will not do that, but then i called her and said i have been drafted to turn things around, but i will only be here for two years. we joked because that was 12 years and i loved it. david: you became ceo and prospered well, then george w. and hecomes president, made in to you to be secretary of the treasury. you repeatedly said you were not interested. why? hank: i enjoy doing what i was doing. was thefamily that vmminently -- th ehemently opposed to the president. i knew i was doing a good job running goldman sachs, so i said no a few times. they kept coming back. the last time jim baker made

when i went to goldman sachs, it was 1974. the firm had a couple of loss years.as interested in working on financial issues and working with clients. i was interested in markets. david: when you were at goldman, you were not a person who bought your own private plane. you were not a person who had a big house in the hamptons? hank: no, we continue to live in the same house we built when i was making $36,000 a year. when i go skiing, it is a place where not fancy people go. david: with climate change, is it your view, is it due to human activity or would it have occurred without human activity? hank: it is well documented that it is largely caused by human conduct. this poses an enormous risk for our economic security, for our social stability. i see climate risk as the single biggest and most certain and formidable risk that mankind faces. david: do you think the paris accord which the current administration has pulled the u.s. out of -- technically, we don't go out of it for another year. those people in the government say we don't want to take climate change ac

david: you became ceo and goldman prospered, did pretty well. then george w.h becomes president of the united states and he made a couple of interest -- couple of entreaties to you to be secretary of the treasury. you repeatedly said you were not interested. is that right? sec. paulson: correct. david: why were you not interested? sec. paulson: i enjoyed doing what i was doing. i had a family that was vehemently opposed to the president. my mother, my wife, my kids. i think also at the root of things, although i did not tell myself it was the reason, i knew i was doing a pretty good job running goldman sachs, so i said no a few times. they kept coming back. the last time jim baker made a pretty compelling case, and more than anything else, what hit me was i looked at things and said, guess what? i go around, i recruit all the time at business schools. i tell people welcome change, change is your friend. we all hate change. maybe it was fear of failure that was preventing me from serving my country. as soon as i saw that, i said i will not let that stop me. i m

goldman, mr. castor. i'd like to submit or ask unanimous consent to insert in the record statement of administration policy. >> without objection -- >> and the call dated july 25th. >> without objection, mr. armstrong. >> thank you, mr. ecchairman. mr. castor, it's been a long day. it's been a long couple of months. you've been in the middle of this, andn i know previously y wanted to say something. >> thank you. i've resist ed my willingness t be athletic here in the afternoon. but i want to say a few things. first of all, the republicans on thee intelligence committee submitted a number of subpoenas, and we never got a vote, and there was a motion to table it disposed of o them. ranking member nunes sent a letter on november 8th asking for witnesses. ranking member collins sent a letter onol december 6th asking for witnesses. witnesses would have o touched at the heart of e issue that our members are concerned about, and that is, you know, weret ukrainians tryg to interfere with our elections. this is a

goldman -- >> i do not. we were hoping -- we recommended the president very clearly support what president zelensky run on his own election and what his server of the people party had run on in its election. >> that didn't come up in the call, did it? >> mr. goldman, did mr. trump utilize public trust in order to hurt his political opponent? >> yes, that's what the evidence shown. >> america's values of democracy and justice must have the vital pillars of truth. the truth matters. it's clear that the president really cleared about -- did not really care about fighting corruption in ukraine but wanted his own personal interests to be continued. the president poses a threat to pursue the truth, that is our duty, we're now proceeding to do our duty to find the truth. thank you mr. chairman. >> the gentle lady yields back, the gentleman from ohio. >> this is a second hearing on impeachment that this committee has held in the last week. i will submit that you're investigating the wrong guy. let's look at the fact

goldman sachs.an sachs took 10% heftysion, in addition to interest rate of 6%. that is not usual for governments. governments normally get less than 3%. but this 10% extra that goes to goldman sachs means that we get 90% of the money raised, but we pay interest on 100%. that is what it means. made a goldman sachs killing on this case. haslinda: it has said that you are waiting for a response from goldman. what was the query? >> we wanted to settle it outside of court if possible, but it seems that they are not willing to offer a reasonable sum of money. haslinda: for you, what is the reasonable sum? >> we went to get our 10% back, at least. haslinda: when will you take legal action? --.hat depends upon he will try to extradite things as much as possible. haslinda: how long are you willing to wait for you take legal action? >> we are very patient. [laughter] >> can't harry the court -- we can't hurry the court. that would mean interfering with the law. we can't do that. huge.is so it is another bigge

goldman. mr. goldman, the democrats -- did the democrats publish phone records of the president's attorney? >> mr.e giuliani? yes. >> did the democrats publish phone records of a member of the press? >> yes,of who was also involvedn this. >> did the democrats publish phone records of a member of n congress? >> yes, who was talking to people involved. congress also of happens to be your boss's political opponent. so the b democrats. they run this kind of investigation. ignoring the facts. nothe letting the whistle-blowe come in. and,e therefore, not letting u know if we've talked to more than half a dozen sources for the whistle-blower's complaint in the first place. the guy who has to file an addendum with that clarification sentence. but one thing they did do. onece thing they did do in thei report. is they published the phone records of the president's personal lawyer. the phone records of a member of the press. and the phone records of the chairman of the intelligence committee's political oppo

conducted and goldman said i won't tell you. that i won't testify about how the investigation was done and what choices we made. it's odd under the circumstances where they are filing an article of impeachment against the president for refusing to pride information from congress and he said if they don't feel like answering questions they will rely on investigative privileges and other privileges. what makes them think that perk is available to a lawyer for the committee but not available to the president of the united states? >> chris wallace, how do you think people are viewing this today. not a lot of change in the polling except for in the battleground states where president trump is doing better than in the recent pass. >> that's a good question. which is a bigger political risk for democrats? going ahead with impeachment? or deciding to back off and not impeach the president? on the one hand, as you point out, there hasn't been big partisan by in. a lot of those key swing states that will be crucial on election day in 2020

remember, this is the new product that they're offering alongside goldman sachs. >> at the margins, it will do well and i think it has done well since the card has come out earlier this year. i have one, it's very convenient you can pay it right on the phone. it's pretty cool >> yeah w, i mean, i think if i gives you a break, why not >> thanks for watching "power lunch. >> and "closing bell" starts right now. >> welcome to the "closing be " bell." i'm morgan brennan in for sara eisen at the auto zone post. take a look at that stock. it's up 7% right now it's leading the s&p on a strong earnings and sales the broader market, meantime, treading water with 59 minutes left to go in this trading session. >> and i'm brian sullivan. wi wilfred frost will be along shortly. first off, you've got the u.s., mexico, and canada agreeing to a new trade deal the usmca making changes stocks bouncing around all session along on conflicting headlines about that december 15th deadline for china tariffs. will it sfwebe extended. and house democrats officially announcing articles of impeachment, two of the

and goldman sachs was structuring that.far as we are concerned, malaysia's position, malaysia's primary position is that we didn't need those bonds. malaysia'serve interest in 2012 and 2013 to have those bonds. instead, they were passed on us. we are now saddled with repaying the bonds. so there borrowing, people of malaysia, because of the guarantee, have to repay the bond. talkingerest, we are the principle of 6.5 and with interest, $8 billion or $9 billion. essentially malaysia's primary argument is, you have to pay back the principal and the interest. withe: the settlement goldman is one avenue. you said you had a strong case. what kind of leverage to you have to prosecute effectively? >> as far as we are concerned, we are preparing for trial. we are hoping to have the trial in the middle of next year. when i prepare a case for trial, , the burden ised on us. we are the prosecution. how goldman and their allies respond is not my concern. sophie: that was tommy thomas, attorney general of malaysia in his chambers. we spo

. >> goldman sachs sacks. >> and we'll explain why you shall too right now. time to risk less and make more "options action." >> risk less make more has a nice ring to it. lets get right it. as we know now the record rally rolls on the dow hitting another all-time high today while a tremendous year for the index a number of names sat out the rally. lets look at three walgreen's, pfizer and 3 m the only three components down in year but carter says one of the names is his dogs of the dow pick for you for next year at the plasma to tell us which it might be. >> dogs of the dow, put together in 1950s it's a dividend strategy, the thinking is a blue chip stock that's the worst perform ner the index by definition will have a high yield and that you get a little catch-up trade here in fact is the index of dogs of the dow relative to the dow back to 2001 a lot of -- well efficacy, blows away the dow itself. in any event, lets take a look at walgreen's. here is the spread there is the dog walgreen's, down 14% versus the market, the dow up 22. my thinking is that walg

and dressed in that goldman sachs is reportedly in talks with the u.s. government to admit go to and pay a fine of $2000000000.00 for its part in the malaysian corrupt. scandal the malaysian state owned development fund known as one m d b was set up in 2009 to attract foreign investment but the u.s. justice department says most of the money was misappropriated by fund officials goldman sachs accused of ignoring warning signs in pursuit of its $600000000.00 fee according to the wall street journal an asian subsidiary of the bank could plead guilty to violating u.s. bribery laws in statement goldman sachs said resolution discussions are ongoing adding it would be irresponsible to speculate on an outcome well let's get more on this now we're joined by william black he's a former federal regulator and an associate professor of economics and law at the university of missouri kansas city and he's joining us live from minneapolis very good to have you with us on al jazeera so it looks like an agent subsidiary of goldman sachs might have to pay the 2 $1000000000

or singapore with relation to goldman sachs.ion, we will do what is right in malaysia's interests. >> does the latest development with regard to the u.s. front affect 17 goldman directors for malaysia? mr. thomas: it doesn't matter really if they settle with the u.s. it doesn't help them one bit and doesn't affect our prosecution of the case. >> when might malaysia see a deal? mr. thomas: so far as malaysia is concerned, it is public knowledge there have been talks, rounds of negotiations, but they have not gone anywhere. there is still a pacific ocean gulf between malaysia and goldman sachs. we are concerned the door to settlement is always open. they know where we are. they can come see us if they want to find us. we are proceeding with preparing the case for prosecution. as any trial lawyer will tell you, whether it is civil or criminal, you can settle on the first day of trial or in the middle of trial. as far as malaysia is concerned, it is conducted in -- we prepared for the trial and if there is settlement talks, we can d

goldman is hoping to find bankers were with the big firms. big dealmakers know those that they cover, and now they are trying to get more friendly faces for these firms. how big is the team already? sonali: 150 people. for a while, they were also focus on private equity firms, which tend to go for smaller deals. the big, strategic six and dollar merger. as goldman focuses on private equity firms, this pairs well with a strategy to go through with that. shery: what are we expecting from goldman in terms of what types of people they are getting from these firms? are there some double names that we could talk about? sonali: one of the interesting things about this strategy, you have some of their biggest dealmakers -- we interviewed dusty phillips, the cohead of their m&a, telling is a story about last year how he found himself at a gas station -- you coheadot think about the of m&a running across america chasing smaller deals. but even a top ranks are focused on this, and that chose to -- shows you how intent they are on making the strategy wor

so far goldman sachs has blamed it all on rogue employees and said they would continue to fight this,could admit guilt through one of their subsidiaries. we have seen these maneuvers by banks who don't want to have the parent company admit guilt, which could affect their business. the dow jones reporting they could set up an independent monitor to oversee compliance at goldman sachs. scarlet: i'm sure they would love that. it,erms of a reputational if only an asian subsidiary unit is admitting guilt, what does that mean for goldman sachs as a firm as a whole? >> we will have to see if this goes through, but so far the reputational hit has been huge. were talking about u.s. federal agencies, but singapore expanding their investigation into goldman sachs as well, not to mention malaysia has criminal charges against 17 current and former goldman sachs employees, not to mention this whole scandal gave a snapshot of what the backdoor dealings are and carry outre trying to these bond sales and how much goldman sachs ends up earning from these bond sales, and the inner picture of what is hap

goldman. in this case, congress, with bipartisan support, had appropriated taxpayer funds for the specific purpose of aiding ukraine in its war against russia. is that right?int >> yes. >> and not only had that money been appropriated, the money had actually been released to the department of defense, is that right? >>nt they were about to release it, yes. >> and then, suddenly without explanation, the president demanded those taxpayer funds be withheld fromye an ally who desperately neededll the aid. mr. goldman, did the president notifyld congress about his decision to withhold the aid? >> no, he did not. >> the impoundment control act was designed to prevent the president from secretly taking congressionally-appropriated funds and doing whatever he wants with them. soed is it true that, in your intelligence report, you found theen following in your finding of fact? president trumpin ordered the suspension of $391 million in vital military assistance urgently needed bymi ukraine. and the pre

let's go to the goldman sachs looks at. business investment.nkedin, the trade war with a dearth of investment, and the future in terms of owning equities. abby: it is no secret that c apx was disappointing in 2019. it was negative and we think it will continue in 2020. when we talk to companies about why that is, many of them point to the uncertainty of the trade battle. we see this not just in the united states, by the way, but trade policy uncertainty is more dramatic in some other countries as well. what we basically see his companies are not sure about where they should be investing for their supply chains. so, they are sitting on their hands right now. that is not good for long-term economic growth. tom: i am going to predict in 2020, there will be a new study of what globalization means. for multinationals and the big companies we are comfortable buying right now in the u.s., what is the new globalization that abby joseph cohen sees? abby: it is one where there is a very significant impact from political forces in many countries. we're se

gulf is still a huge between malaysia and goldman sachs.e we are proceeding with preparing the case for prosecution. any trial lawyer will tell you that you can settle on the first day of the trial or in the middle of the trial. as far as malaysia is concerned, it is being conducted in parallel. we prepare for the trial. and the series -- and these various settlement talks. we can do that simultaneously. , how terms of a settlement much can malaysia expect? againstwas borrowing the guarantees and goldman sachs was structuring it back. malaysia's primary position is that we did not need those bonds. it did not serve malaysia's interests in 2012 and 2013 to have those bonds. we are not saddled with repainting those bonds -- with repaying those bonds. -- withle of malaysia interest, we are talking about the principle of 6.5 and interest. , malaysia's primary argument is you have to pay back the principal and the interest. settlement with goldman is one avenue. in the past, you said you have a strong case. what kind of leverage do you have in o

we speak to the head of goldman's sustainable finance group.d to a quick break, checking shares of tesla, hitting a fresh all-time high again this morning remohs up over 60% in the last the nt"squawk alley" is back afr this woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. >>> iac announcing plans to separate dating service operator match group. they hold a controlling stake in the parent of that it is expected to be tax free as a spin off they anticipate to separate in 2020 if you're an iac shareholder, you get new shares of match. that company will be paying $3 a share dividend to iac, but perhaps most importantly match will be a fully independent company. one sh

goldman's testimony he went through four key points. and his last one really is the reason why we're here, which is that the president continues to solicit foreign interference in the election. and that is so key because even though that -- it's an on going act, for example, the president's lawyer has been in ukraine this past week, it's an on going issue that the president continues to solicit ukrainian interference in some way, that he is open to foreign interference or elections and we're coming up on an election. >> i thought this issue of time is what was really hit hard by the democratic counsel here. why do this and why do it now? why? because you heard mr. goldman say the president is an imminent threat, poses an imminent threat to the integrity of our election in 2020. the counter argument to that by the republicans is it's a rush by the democrats because they have a political calendar they don't want to be trying to push out a president remove him in an election year when the voters have their say. but i thought that point abo

goldman. this tweet, is that referring to a personal, political issue of president trump or official u.s. policy? >> that's a personal, political issue. if you don't mind, i'll take a moment to respond to mr. castor -- >> please do. >> -- because in that july 19th meeting between ambassador volker and rudy giuliani, volker told mr. giuliani that the accusations were just wrong. mr. giuliani said that he knew that, and yet, for the next two months, he continued to push for that same investigation at the direction of president trump, who had also directed him to contact mr. giuliani. so that meeting is actually quite important to that investigation. >> and sir, you already explained that on may 23rd, the offici only thing they said was talk to rudy. he was taking his official people of ukraine and handing them over to rudy giuliani so they could work with him on issues he was focused on in reference to the tweet. is that fair? >> i agree that's what that shows, that the july 23rd meeting he put

still to come, goldman is jumping into the wework cleanup. the new debt financing plan. firm plans to lure other potential lenders. details next. this is bloomberg. ♪ paul: this is daybreak: asia. i am paul allen in sydney. shery: i am shery ahn in new york. the drive to say we were continues with goldman sachs playing a role in keeping the sharing startup afloat. it will arrange a line of credit for almost 1.8 billion dollars as part of softbank pledge to put together $5 billion in debt financing for wework. joining us is gillian tan. when can we expect is of credit and what happens to the facility? gillian: it is excited to be in place, or the targeting at the end of the year for having it in place and $1.1 billion existing credit. paul: what are the implications of this for both wework and softbank? gillian: i guess it is great for wework. softbank continuing with its wreck you -- rescue package. $1.6 billion letters of credit, that is part of the $5 billion debt facility and the implications for wework -- we saw the bond rise more than four cents on the dollar which

goldman. mr. goldman we're used for committees and witnesses takiei gratuitous shots at people they don't like. you made a comment, when your testimony you said as you were discussing mr. sondland you made a snide comment, actually your facial expression showed he was a million donor to the president. the implication being either because he got the job because he bout it or loyal to the president. be very careful how you throw around dollars and giving because you and mr. burke are real heavy donors to the democratic party and i won't say it questions your motive or position here today but we need to make sure this thing is already blown out of proportion. we're already not answering questions and you're here because your chairman will not testify. that's all we need to hear. i hope it works out for you. >> could i respond? are you trying to say that -- what are you trying to say? what's the implication. i didn't give anything close to a million dollars remotely. >> implication is we want schiff i

back to bush, also goldman sachs. you go back to bill clinton, also goldman sachs.en administration, would there be a former goldman sachs executive running the treasury department? >> nope. >> is that a pledge? >> absolutely. >> that's a litmus test. >> absolutely. let me tell you why. the problem we've got right now is a revolving door right now between wall street and washington that causes everybody to be on guess for, wait a minute, the next time this treasury secretary puts forward a proposal, is it because it really helps the economy, helps the american consumer, helps the american homeowner, or is it because it helps their former and possibly future employer? let's just do for one second the gary cohn example, another goldman sachs. >> sure. >> so trump appoints gary cohn, he leaves goldman sachs. gary cohn is going to have exactly one job, and that is to ramrod through a rewrite of the tax laws that will profoundly affect goldman sachs. so what does goldman sachs do as gary walks out the door? they hand him nearly a quarter of a billion dollars. it's a gift

goldman? >> yes, there were 17. >> i counted 17,000 officials who served republican and democratic presidents alike who came to testify. in fact, four of president trump's own national security staffer

in other business news, goldman sachs may be on the verge of being 1.5 — goldman sachs may be on thee on the verge of being 1.5 — $2 billion in penalties for misleading investors. it is in relation to a decades—old sale of $6.5 billion in bonds for the malaysian investment fund one mbd. the relation authorities are probing 17 current and former directors. a goldman sachs spokesperson told bloomberg news that the bank is cooperating with investigators. now, did you know that retailers are throwing items that haven't been sold? we're talking about everything from cosmetics, clothing, shoes and electronics. the french government is about to discuss what it calls a world first law that bans the destruction of those surplus goods. instead, producers, importers or distributors including online ones, would have to either reuse or donate them. let us take a look. in france alone, $700 million worth of unsold non—food items are thrown away or destroyed every year. the fashion industry in which the country is a world leader is notoriously wasteful. a2017 report put the level of waste generated

goldman, mr. goldman, we're used to committeeol and people and witnesses taking gratuitous shots at people they don't like. earlier today in your testimony, you made a comment that really goes to an interesting thing and i will go back to the chairman questioning motive, in your testimony you said as discussing mr. sondland you made a snide comment that he was a million dollar donor to the president. the implication being he got his job because he bought it or he was loyal to the president and would say anything. be very careful about how you throw around dollars and giving because you and mr. berke are really heavy donors to the democratic party and i'm not going to say it questions your motives or position today, but we need to make sure this thing is already blowing out of proportion, we're not answering questions and you are here without a pin because your chairman will notpi testify tha says all we need to hear. he don't even stand behind his own report and sendsst you. i'm done at this point