when world war i happened, what will wilson -- and it is an interesting story in the book called jack morgan j.p. morgan signed after having a campaign on this notion of breaking these trusts that were run by people like morgan because there was a war coming on and there was all sorts of speculation in the press at the time. why are these guys getting together. whawhat is wilson doing? and it turns out to couple of months later they were trying to figure out how to finance the war and they were on the same page. and you know, we now have two key page. >> host: in the percentage of the capital and the deposits into derivatives and assets in such few hands that it allows for ultimately manipulation and scandalous activities in the market. >> guest: which is why you need it well defined structures to at least be unquestionable and not lawyer to at least create less risk to everyone else in the general economy. i mean, that should be -- we talk about a government that is supposed to protect the citizens of the country. well it's not just about all the money that you spend on the military. the go

reserve and when world war i hotbed, woodrow wilson and it's an interesting story in the book called jack morgan chief market time after having campaigned on this notion of breaking these money trusts that were run by people like morgan because there was all sorts of speculation in the press at the time. why is market at the white house? what is wilson doing? it turned out a couple months later they were trying to figure out how to finance the war and we now half the situation where there is nothing keep that page. >> host: it clearly seems is your just reference them, the percentage of capital and asset that it allows for ultimately manipulation and scandalous activities in the market. >> guest: which is why you need well-defined structures throughout these on lawyer of all against in to at least create more risk to everyone else in the economy. he talked about a government is supposed to protect. they should never stop ability to protect from the standpoint of its economic well-being. in a situation where the concentration of wealth and power and influence is so out of whack, then a government

when world war i happened, woodrow wilson and it is an interesting little story in the buck called jack morgan, j.p. morgan's son to the white house after having campaigned on breaking the money trust that was run by people like morgan because there was a war coming on and there was all sorts of speculation in this that at the time why are they getting together, why is morgan at the white house, what is morgan doing and it turned out a couple months later they were trying to figure out how to finance a war and they were very much on the same page and we now have a situation there is nothing to keep that page. >> host: it seems as you were just referencing the percentage of the capital and the deposits and directives and assets with such few hands that it allows for ultimately manipulation and scandalous activities within the markets. >> guest: which is why you need actual well-defined structures to athletes to be unquestionable to at least create less risk to everyone else in the general economy. that should be -- you talk about how the government is supposed to protect the citizens of the cou

and a fellow named tom lamont, the acting chair of the morgan bank at the time, his real chair, jack morgan, was gal vanitying around the elsewhere. gathered five other bankers together, the most powerful families of bankers running the most powerful banks on wall street, saying we need to do something to save the markets. and they decided with just 20 minutes to throw in $25 million each into a buying pool, tell one of your guys to buy a lot of stock and basically buy themselves, try to boost the market falling around them. i just found that really fascinating, this idea this big six banks. and i noticed today we have six banks and i looked back in time just cursory analysis and there were six banks 100 years ago in the panic of 1097, and they were all largely the same banks. the first part of the century, the same families, now similar legacies. but i started to say, what is that relationship? i was fascinated in other works i had done with the political association of bankers, so i decided to look at the history of the period and look at the real relationships between six bankers, who ar

adulter '20s was -- during the '20s, and the acting chairman of the morgan bank at the time because jack morganwho was the chairman at the time was off partying in europe, and he got phi other bankers -- five other bankers together that collectively ran the big six banks of the time. and they were called the big six banks of the time. that name had been coined by b.c. forbes in 1917 and forward because it was about six bankers. at the time those bankers were all related in some capacity. if they weren't related by blood, they were related by marriage. if they weren't related by marriage, their children were or would be with. so there was a really strong connection in that room and this idea that, you know, put in some money, we'll save the markets, we can do this, etc. but the story went back even behind and before those big six decided to save the markets from all the screw-ups that they had imposed upon them in what would become the great depression which would be imposed upon the greater society and all of the population of the united states and globally. the tide back from the morgan bank w

treasury secretary jack lew, commerce secretary penny among top obama administration officials leading charge to dissuade the ceos. they trying to persuade giants alcoa, goldman sachs, pepsi, morgan stanley, conn conoco phis and others, latest salvo from obama administration is violence and eastern ukraine, overnight clashs in city. claiming lives of at least 4 ukrainian soldiers up to 30 pro russian separatists, secretary of state kerry pronounces himself quote, nothing less than disappointed with russia. vowing to impose more sanctions against russ succeed in derails a nationwide elect schedule for may 25. in ukraine. that tactic, criticized by democratic chairman and rangeing republican senators on the foreign relations committee, today. >> if we don't use this call break on sanctions in the way to prevent further incurring to the ukraine, we will find ourselves ewing those sanctions as an aftermath as we did in crimea. >> sometimes i think only strategy that administration has is getting people who talk about ukraine to look in the mirror, make sure they practice sounding tough. lou: nato commander, general philip moments ago announceed that nato may be forced to permanently

jpmorgan, morgan stanley, goldman sachs, and i believe merrill lynch and citigroup. they will be all equals on this deal. jackin the middle. he will be calling the shots, he will be the lead underwriter. and this is what we do know, jack has essentially threatened any bank, threatened to fire any bank that does not work together in a collaborative effort. he told 'em point blank, you don't work together, you don't do this right, you are out. we should point out that they are, essentially, going to divide up the fees equally. but the interesting thing is jack ma is running this deal when it comes later in the summer, and nasdaq and new york are locked in a bitter battle. lori: greifeld has lost a few headlines, right? a few big ipos. people have been talking about his job in general -- jeopardy for a while now. >> i don't think it is, but he does have an image problem with nasdaq after he had two major technological failures. guess what? you get a bad rap, that's why twitter went to the new york stock exchange, that's one of the reasons why bankers have urged jack ma to go to the new york stock exchange beside

treasury secretary jack lew, commerce secretary penny among top obama administration officials leading charge to dissuade the ceos. they trying to persuade giants alcoa, goldman sachs, pepsi, morgan conn

morgan hill. it's flaring up again today. i'm kiet do. live report coming up. ,,,, ♪ at kaiser permanente we've reduced serious heart attacks by 62%, which makes days with grandpa jack00% more possible. join us at kp.org and thrive. get 5% cash back at lowe's this quarter so you can score more cash. activate your 5% cash back at chase.com/freedom. mallicoat. and i'm michelle griego. tis 6-- let's check in with liz for check on our morning commut let's get a look at weather. here's meteorologist lawren karnow.

jack for things and u.s. financial experts were talking about ukraine just from the latest news about visa and master card etc news today that actually by the research conducted by morgan stanley it would cost the zen master got more to stay in russia and to leave russia now i know that they're partially implicated in some of the sanctions that are already put in place against some banks in russia now what do you thing do you think is a must about will fight their way to stay in russia although just give up. look is far as far as visa and master card leaving russia permanently on a permanent basis because of this temporary political situation i can give you my perspective as being being involved in corporates or planning. at the corporate level we don't really think that way we think longer term about the markets that we enter i mean we've we've introduced some of the most world's most volatile markets in my past and we don't think about the tip for temporary dips in swings in politics and sanctions and issues like this so i don't believe that any organisation that has a long term intention a strategic intent to be in russia will make long term decisions based upon wha