jeffries: ok. on october 12, wikileaks contacted donald trump jr. saying, great to see you and your dad talking about our publications. and by the way, we just released podesta e-mails part four. let me ask you this question, donald trump, jr. never informed the fbi or other law enforcement agencies that a known russian collaborator had been in communication with him about matters related to the united states presidential election, is that right? dir. wray: again, congressman, i'm not going to comment on anything that might be part of the special counsel's ongoing investigation. mr. jeffries: ok, well the apparent existence between the trump campaign, russian spies and wikileaks seems to be something we should all be deeply troubled about. in 1974, the house judiciary committee adopted articles of impeachment against president nixon, correct? dir. wray: that sounds right. mr. jeffries: one of those articles of impeachment related to obstruction of justice, correct? dir. wray: that i don't remember

much more this hour with our guests including congressman a kim jeffries, a democrat on the jush judiciary committee. and also standing by panelists. let's get to the special news on russia investigation. justice correspondent jessica snyder is joining us. special team now digging for information from one of the president's closest advisers, hope hicks. >> that's right. wolf. learning tonight that hope hicks white house communication director interviewed late this week by the special counsel's team over a course of two days. that's according to "the new york times." now hicks is a prime importance because of her proximity to the president. she started with the trump organization in 2014. she was a key point pooern when donald trump launched his campaign in 2015. the special counsel wants details on the drafting of the initial statement that described donald trump junior's meeting with russians at trump tower while it turns out hope hicks was on board air force board when it was written. and secondly we know hope hicks was warned about russian operatives by u.s. officials twice earlier this

average.is the keller, thank you for bringing us that scoop on jeffries.it is classic some prime -- coming up, it is classic subprime. it is the current u.s. auto industry. we will discuss, next. from new york, this is bloomberg. ♪ vonnie: this is "bloomberg markets." julie: subprime auto lending is long and winding and private equity firms are in for a bumpy ride. delinquencies are soaring toward crisis levels. joining us with more on the story, clear boston. this is something we been watching for a while and some people happen raising the alarm. these various private equity firms are feeling the pain from rising defaults. >> thank you for having me on. a lot of private equity firms came into the subprime auto finance space after the crisis. theyey tried to grow, might have grown a bit too quickly. toy were extending credit less creditworthy borrowers. a lot of times these guys want to exit their investment in 4-6 years. vonnie: explain how they go about lending. >> these guys work with dealerships. they get bank clients directly from big banks and then w

i want to bring in congressman hakeem jeffries.s a member of the house judiciary and budget committees. good to see you, merry christmas. >> good to be with you. >> as you headed into the house floor to vote, you tweeted out saying headed to the floor to vote hell no on gop tax scam. we will tattoo this vote on the foreheads of every new york member who vote for it. so now that these tax cuts are law, are you taking a wait and see approach to see if the tax law becomes popular or even delivers more money and the jobs promise for the middle class? >> i think what's going to be clear to the american people increasingly even though this bill is currently very unpopular, is you'll have millions and millions of middle class americans, particularly here in new york city, who are going to experience a tax increase, not a tax cut, because of the limitations on state and local tax deductibility and the limitations on property tax deductibility. that is incredibly unfair. same will be the case as it relates to middle class taxpayers in calif

here's a name we don't mention too ofteoften, lucadia, they own jeffries and we focus on them becauseen the first of the financial services companies to report earnings, which it did and it can be a tell on the trading front or perhaps not as much as in the past because jeffries did report strong numbers, 40% increase in investment banking net revenues, this company is the lead are m and a adviser selling companies to sponsors and financing them so financial sponsors, lxts bo, what we would call the lbo guys, private equity and that has become a much larger part of their business which has brought fixed income and equity down to 45% of the overall business if you want to tell from the capital markets, strengthen equities underwriting or trading and fixed income trading, jeffries may not be the place to go any longer. lucadia owns jeffries and that is why it is up over 1% this morning on again very strong numbers, total net revenue, $3.2 billion. >> that's very good. >> yeah. >> kind of an outliar to some degree. >> very impressive. >> finally, jim, some discussion about how toys are t

joining us now, brent fill, senior tech analyst at jeffries and brian nagle, retail analyst at oppenheimers for joining us today. i want to start with you the point i just made, home depot and lowe's trading at all-time highs, the sentiment has been for a while now that this part of retail has been much less exposed to the potential disruption of amazon, but now amazon's moving into furniture and appliances, so should these companies and the investors in these companies be concerned? >> well, look, i think it's a good question. i've been recommending home depot and lowe's as top picks. the stocks have performed really well i look across retail, i don't think there's any company out there that can dismiss the threat of amazon now, home improvement in my mind is well protected from that threat, in that the category just doesn't lend as well to online sales, but i think what we're hearing now, particularly from home depot, is they are looking at a company like amazon and saying there's some things amazon does really well. we can do that, too. now home depot is becoming more digital in its str

david: david: from jeffries. you will stay with us.e will talk about brexit and what is going on in the economy in london. this is bloomberg. ♪ david: this is bloomberg. i'm david westin. that is london. that is bloomberg headquarters in london. st. paul to the right, that is a gorgeous shot. abigail: stunning. david: david owens is with us. we want to talk about brexit. we will put up a chart, the brexit barometer. you do not need to know what the numbers are, but the numbers have gone down, come back up, now in the middle. is that reflecting where we are in terms of the economy in where negotiations are going? where are we with brexit? david owen: i think the recession was -- after the vote itself, we are now living in a world where the longer-term growth expectations for the u.k. -- the u.k. has slowed. most people are thinking that the u.k. will grow summer between 1% and 1.5% on average in 2018 and it compared with the eurozone growing at almost 3%. the u.k. clearly is o underperforming. in terms of negotiations we have only agree

even a 50 down in jeffries right now. winds are t. will need a jacket. with light winds, hey, it is a comfortable chill in the air. a storm system off to the south gave us clouds earlier. we're clearing out. gave some folks a nice sunset here. showers are up in the new york state and new england and will stay there. futurecast shows a quiet night tonight. wednesday morning, temperatures around freezing. thursday morning, low 30s in town and by the bay. tomorrow, sunny. but with light winds, we tend not to mix so we underperform, highs in the mid-40s. i will talk about and talk about today and tomorrow versus tomorrow and we will look towards christmas, let you know if there is snow in the forecast. >>> hundreds of contract workers walking off the job at dhalas this morning. we caught up with the workers ticketing by the upper level departures. $15 an hour. they also want to exercise their right to join a union. >> a lot of the workers have to work two and three jobs right here at the airport. some have to sleep upright at the airport. that's not fair whe

jeffrie. >> that would be the last touchdown pass carson will slow this year for the eagles, we'll recapou about what we know about wentz's injury. >> and a head-on crash leaves four nuns from our near critical condition. what officers say happened moments before the horrific wreck. >> and flurries are flying this morning there is was the scene overnight in southwest philadelphia. we'll tell if you snow will be an issue for your morning commute. >> well it, monday, december 11, morning, everyone , i'm jim donovan, and i'm wearing the suit. >> and i'm rahel solomon. front page of the daily news says it all, the eagles win cost arm and a leg. could be season

over time, jeffries has been reinventingtself -- itself.d, $1.8 billion for fiscal 2017. trading, $1.4 billion for the year. for people looking through the trading lines, fixed income not looking good. 37% on the quarter. that is much worse than the 15% in overall trading backed by bigger bank executives. scarlet: shameful for bonuses. julia: speaking of, got to take that sabbatical. laura keller, thank you. up next, many in the marijuana business facing a new crop of legal challenges. how lawsuits could be a real buzz kill for the industry. we will explain. this is bloomberg. ♪ scarlet: the house of representatives must revote on their tax bill tomorrow. there was a senate rule issue. bernie sanders pointed it out and the house will have to vote once again. julia: we were talking about this earlier on bloomberg markets. nitpicking, pouring over the details of this. will it still hit the president's desk tomorrow? we shall see. america's pot industry facing a high hurdle. they have seen an uptick in the use of and direct the tearing rules t

. >> i'm joined by democratic congressman rakeem jeffries of new york. thank you.at it smells like to you. are they trying to distract, discredit? what are they up to, the republicans around the president? >> well, chris, you're absolutely correct. they feign anger and outrage at the alleged politicization of the investigation by this one fbi agent that has no basis in reality, there's no department of justice regulation they can point to that was violated. fbi agents are allowed to have political opinions and to express those opinions in a private setting. we know that bob mueller, who is leading this investigation, for decades has been widely respected by both democrats and republicans, progressives and conservatives. he's a talented law enforcement professional. he's not going to allow politics to influence this investigation. he will follow the facts, interpret the law, and that will result in whatever conch collusi -- conclusion he ultimately reaches. >> it seems to me that the people loyal to him will worry that mueller is good, that he's smart, that he's goi

jeffrie. >> that would be the last touchdown pass carson will slow this year for the eagles, we'll recap the game and tell you about what we know about wentz's injury. >> and a head-on crash leaves four nuns from our near critical condition. what officers say happened moments before the horrific wreck. >> and flurries are flying this morning there is was the scene overnight in southwest philadelphia. we'll tell if you snow will be an issue for your morning commute. >> well it, monday, december 11, morning, everyone , i'm jim donovan, and i'm wearing the suit. >> and i'm rahel solomon. front page of the daily news says it all, the eagles win cost arm and a leg. could be season ending knee injury. but first a check on the forecast with katie. freezing weekend, more of the same? >> welshing i mean, not thankfully as cold as it is going to get today. you know, eventually these temperatures are going to absolutely plummet, and we will be lucky to even hit 30 degrees by the time we hit the middle part of the week which we'll get to. but this is will get you out the doorment could be little tri

jeffries exiled a lot of west country persons to barbados. go to somerset, devon, they also pronounce their vows very body. vowels very baudy. a lot of the genetic flaw that can be traced to the area of exiledt that these people were exiled to barbados. the society that washington met, barbados, when the washingtons arrived, had a population of about 80,000 people, 16,000 wide and 64,000 of african descent. but by the middle of the 18th century, the barbados population was already relatively old. they had been on the island for several generations. barbadans would have been six generation born. my family went to barbados in 1627. so we have been on the island from us 400 years. what i'm saying about the age of barbados was an experimentation by the english in slavery. early on, just as many women were brought as men. as the sugar frontier expanded, men tend to be brought in in larger quantities, so there was a gender imbalance in the population. barbados was different. the gender balance was known from a very early period. by the time the was

mcdonald's stocks, to buy over jeffries.ndy bearish boost his eyes target to the highest in the street, $200. well positioned to continue to outperform, a combination of initiatives, remodeling, deliveries will make a 3% comparable usl very visible here. with its numbers as well. comparable sales better than estimated. and the gross margin also topped expectations up to 3%. reallyductors have been beat up with -- since technology in the past week, they have fallen for private -- five of the past six, losing more than 8% of that time. now more than 1% to the stocks that had anticipated advanced devices rebounding today as well. headlines crossing on walt disney and 21st century fox. we're talking about a deal according to people familiar, may be preparing to sell assets to disney. cnbc saying the deal could come as soon as next week. disney sales down and 21st century fox continuing the uptrend gaining. mark? session, textile falling marginally. you can see the middle of the pile right there. decades wrote 2 -- rose to a 16 y

jeffries: yogi berra once saidit like deja vall over again. today we're back the house floor after this big dramatic celebrationf thi suppedly historic bill a republican tax bill that really is nothing more than a wolf inheep's clothing. 's the classicbait and switch. it's a ponzi scheme. the tax ctsre going to be meaningful for wking families and everyday americans -- the tax cuts aren't going to be aningful for working milies an everyday americans and t tax cuts aren't even going to be realized. it's a tax bill designed to benit billionaires and millionaires,wealthy and well off, special interests, corporationsand bionors. it's a shameful abdicion of reonsibility. a dereliction of duty. and an incredible, malicious act of legislative lpractice. so based on this phony fraudulent and fake theory of trickle-down economics wheres the any evidence that if has ever worked for the american pele? onald reag cut taxes for millionaires in miioaires in 1981. we didn't t stng. we got a deficit that exploded. george w. buscut tax force millionaires and b

jeffries: yogi berra once saidit like deja vall over again. today we're back the house floor after this big dramatic celebrationf thi suppedly historic bill a republican tax bill that really is nothing more than a wolf inheep's clothing. 's the classicbait and switch. it's a ponzi scheme. the tax ctsre going to be meaningful for wking families and everyday americans -- the tax cuts aren't going to be aningful for working milies an everyday americans and t tax cuts aren't even going to be realized. it's a tax bill designed to benit billionaires and millionaires,wealthy and well off, special interests, corporationsand bionors. it's a shameful abdicion of reonsibility. a dereliction of duty. and an incredible, malicious act of legislative lpractice. so based on this phony fraudulent and fake theory of trickle-down economics wheres the any evidence that if has ever worked for the american pele? onald reag cut taxes for millionaires in miioaires in 1981. we didn't t stng. we got a deficit that exploded. george w. buscut tax force millionaires and b

jeffries, as much time as he may consume. the speaker pro tempore: the gentleman from new york is recognized. mr. jeffries: i thank the distinguished gentlelady from hawaii for yielding, as well as for her leadership. i also want to thank chairman bishop for his leadership in helping to move this legislation forward. mr. speaker, i rise in support of h.r. 3979, the keep america's refugees -- refuges operational act. a bipartisan bill that will re-authorize the volunteer community partnership and education program for our national wildlife refuge system. let me begin by thanking my good friend, the distinguished gentleman from the commonwealth of virginia, mr. rob wittman, who has partnered with me on this legislation and is a strong champion for our country's refuges. this commonsense, bipartisan legislation will support conservation efforts at our nation's refuges in a way that saves taxpayer dollars and stimulates jobs and economic opportunity. our national wildlife refuge system is comprised of 566 refuges located in every

(jeffry artacho/received new bicycle): "i got a new helmet and my name is on it, pretty cool...on a oneto then scale...i'd say this is about an eight." it is the first bike for most of the children ... and some will have to learn how to ride to begin enjoying their gift.. the recipients were selected based on need and achievement in the classroom. the students are from san martin(marteen) gwinn, rucker and luther burbank elementary schools. now to our four zone forecast. taking a live look outside at s-f-o.kron-4's chief meteorologist brittney shipp is here now with the forecast little change in the weather is expected through the end of the workweek. a weak trough will pass north of the golden gate on saturday keeping the best rain chances closer to the oregon border. longer range trends suggest dry and cooler temperatures over the weekend followed by above normal temperatures next week. new ahead at 8 the airline banning smart luggage from flights in the new year. and next. a showdown in the senate .... as republicans near a momentous vote on a massive tax bill. <> ((gary sports tease

joining us is hakeem jeffries of new york.w president trump's tweets and this prediction he has for the new year. are you and other democrats willing to work with republicans to make changes to obamacare especially now that the individual mandate has essentially been gutted? >> well, if we're going to move forward and deal with health care, the foundation is we have to keep the many parts of the affordable care act that are working incredibly well for the american people and to the extent there are adjustments necessary to strengthen it, that we have always been willing to reach out and work together in a bipartisan way to do that. the problem is at the beginning of this year trump and the republicans came into congress with the intention of fulfilling a political promise which is to repeal and replace the affordable care act and to put in its stead trumpcare which would have thrown off 24 million americans from their health insurance and posed a draconian age tax on americans between 50 and 64 and stripped away protections fo

rachel jeffries. beth johnson. mary lincoln johnson. timothy baron johnson.topher andrew jones. julianne frances kelly jay joseph kingham >> we remember them. patricia ann klein gregory kosmowski elke etha kuhne minas christopher kulukundis, ronald albert lariviere maria nieves larracoechea robert milton. william lever. wendy lincoln. lloyd ludlow. maria lurbke. james macquarrie. >> we remember them. wendy malicote. douglas malicote. elizabeth merrick. lewis marengo. noel martin. diane maslowski. william john mcallister. daniel mccarthy. robert mccollum. charles mckee. bernard mclaughlin. jane melber. represent frederick sanford willis. >> we remember them. suzanne marie miazga. joseph kenneth miller. jewel mitchell. jane ann morgan. eva morson. helga mosey. richard paul when eddie. ingrid mulroy, sean mulroy, john mulroy. karen elizabeth newman. mary murphy. thomas mitchell. >> we remember them. daniel emmett o'connor. mary denice o'neill when it boland -- when it owing -- gwenyth oh when. martha owings. laura abigail owens. robert owens. kristof michael pap

you have jeffries toys, my favorites. they're a legacy business in the city. and keep supporting them. [shouting] we'll have all of the different business associations that are working together with us. but the experience is all about fun. safe fun. and that is why the chief and i will be doing a lot of things over the holidays to make safe shopper programs, to provide the safety level that people have. reduce the harm reduction program on our streets. make sure people, as many people can get off of our streets. while work on those hard things. in between those difficult, challenging things, we want to work with our business community to provide safe fun for the kids that will be here. thousands of kids over the holidays, families. people from all over the world that are taking advantage of this wonderful city that we have. and we're doing this with programs, yes, that we funded but we want to make sure that everything else is working for folks on the long-term. small businesss are so important to cities like san francisco. more than the backbone, they provide

and then jeffries came out saying that disney is the much better bitter.s deal could be deluded for comcast. you -- do each of 37% over a 37% over a short ti. >> i would've said 10%. >> there so much talk about what .appened -- will it happen investors are taking this very seriously. . india's star is up for sale and it could be for as much as $50 billion to my which is about half the value. it seems investors think it is going to happen or something is going to happen. we were discussing this yesterday and the fact there has been so many leaks surrounding this, it is hard to take seriously. >> on the fox park, perhaps they are willing to do a deal. we think about this from a broader perspective, here we have rupert murdoch, who has been the star of this machine for long time and finally .erhaps, willing to sell -- eems to be murdoch family seems to be playing it well. coming up, bitcoin started this year around $1000 and just past $16,000. passed this is bloomberg. ♪ >> stock buybacks are down. buybacks by s&p 500 companies are connected to be down for th

representative jeffries of new york. democrat.so much. >>> still ahead unrest in the middle east, day of rage after president trump's decision to recognize jerusalem as israel's capital. we are live with the latest global reaction. things than rheumatiod arthritis. before you and your rheumatologist move to another treatment, ask if xeljanz xr is right for you. xeljanz xr is a once-daily pill for adults with moderate to severe ra for whom methotrexate did not work well. it can reduce pain, swelling and further joint damage, even without methotrexate. xeljanz xr can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections, lymphoma and other cancers have happened. don't start xeljanz xr if you have an infection. tears in the stomach or intestines, low blood cell counts and higher liver tests and cholesterol levels have happened. your doctor should perform blood tests before you start and while taking xeljanz xr, and monitor certain liver tests. tell your doctor if you were in a region wher

we have -- i was elected by my caucus along with jeffries of new york and sherry bus toes of illinois to put together the democratic agenda about better r wages for a better shooter, raising family income, reducing the cost and people's lives and making sure they are prepared for jobs in the 21st century. we have launched specific legislative proposals to deal with the fundamental issue facing millions of americans. legislative proposals that are designed to deal with the fundamental issue facing millions of t americans who go bed at night and just don't have enough money to pay their bills, take care of their families. put a little away for the future. so this is a real focus on how do we raise family incomes and really strengthen the middle class. >> is that why even before answering the judiciary committee question you made sure to talk about family economics and this issue that democrats focus on. do you wish democratic members focused more on that than the russian probe? >> i think democratic members are focusing on that. i think democrats are talking a lot about what our economi

jeffries was also in the army, based at ft. bragg like the major, he went by the name black stump man. by now the deputy d.a. was monitoring the investigation. >> and they would online chat friends, chatting about the swinging lifestyle and that sort of thing. david actually said, you need to meet my wife joan, and invited him to a swinging party. >> they all got together at a local hotel, just social that time, no sex. >> there was a second swingers party that both of the shannons and jeffrey attended. at that party, he as well as others did have sex with joan. but after this happened, joan and jeffrey started seeing one another. >> that was okay, though. according to the rules, the shannons had established. as long as it was just sex and no one got romantically entangled. anyway, wilson was married with kids. and there was no indication that his wife knew what he was up to on the side with joan. >> he started doing some one on one is what they call it, when the other person's not there. david always knew when i was with jeff.

jeffries decide when they receive bonus payments.old that the ceo has asked workers if they want a check of this month or next, paying bonuses in january. some may want a bigger compensation in 2017 before the new regulations. nike is that with the second-quarter results that beat estimates. shares were at $.46, we were looking for $.40. revenues topping $8.5 million. income rising in greater china. declines in north and latin america. india's case pushing narendra modi in the power has been thrown out of court. we are headed to new delhi. ♪ rishaad: this is "bloomberg markets: asia." i am rishaad salamat. let's have a look at indian markets, the last trading day before christmas. you need a four rupees to buy yourself a dollar. tracking what is going on in the broader asia complex. stocks of companies associated with india's biggest graft case are surging after they acquitted all the accused. a cancellation of some 122 airway licenses in 2008. it ultimately brought down the congress government. let's get to the capital of new delhi.

amazingly he stayed in the game and a few plays laid threw a touchdown pass to alshon jeffries. shows you just how tough this guy is. so now what? well, the eagles still 11 and two. they're still in the driver's seat for home field advantage throughout the playoffs and they still have super bowl aspirations. i asked doug pederson what his message is to the fans who have now lost hope. >> to the fans out there, you can't lose faith. i mean, this is -- this has been a resilient football team all season long and, you know, if there's ever an opportunity for me as a head football coach to rally the troops, you know, now might be the time. there's still a lot to play for and that's what's exciting about the rest of this season. we're still playing for that opportunity to hopefully be in that game and nick has played a ton of football and you never want it to be under these circumstances but at the same time, you know, my confidence is extremely high in nick. >> reporter: yeah, it's that time of year so bring on saint nick. let's not forget he's done this before. the last time the eag

. >> jeffries initiates on the home improver the. top build, mohawk, buys?stanley black & decker, that's another one i've been trading. we got to go >> we'll see you with gundlach tomorrow "power lunch" starts now >>> the record rally rolls on and bitcoin looks like it's on a bender t what's on tap for next year? we'll go inside the numbers. and it was the big interview on cnbc today one of silicon valley's top vcs slamming social media for what it's turned into saying it's destroyed the fabric of our society is he right? what can we do now >>> and a tax bill being hashed out could have

i will leave you with a final thought from jeffries, they're forecast,th the raising their forecast by2018are confident that looks like an undersupplied market. we will see if there right on that front. anna: thank you. joining us from riyadh after some fantastic interviews being conducted. oil, toughut questions for 2018 which i read ahead of our conversation. we have seen the oil price pushed around by opec, shale drillers, for reasons we understand very well but after that the pipeline troubles in the north sea. where do you see things moving? toff: we do not want to add long positioning, we are looking for a slight dip to the 57 exports. ultimately supply issues, we have talked about quite a bit. that is one of the major factors but demand is there as well. global growth, we are shifting toward the nobles. -- renewables. and there isigher supply coming through but it is the demand story that produces the price incentive. let's keep the transmission in mind. are we going to get a big -- deflationary drag? probably not. anna: we have are either side of on branch now. -- we started to

jeffries has somewhere in the middle, 40 million.that being said, we turn to the suppliers. you see names like finisar 4% down. lou men tum down 6%. micron, down 4%. suppliers are reacting to the news. same time, barron owes -- "barron's" over the weekend said apple first. cheryl: nicole petallides. thank you. holiday lull may have the stock market taking a breather today but when testimonies could to bitcoin the action never stops. the cryptocurrency rallying after a sharp selloff to a low of 10,400. should you get out now, stay in, stomach volatility? bring in chief investment officer lee munson. good to seeç you, lee. >> hey, great to be here. cheryl: every day we ask question about bitcoin, fact or fiction. what do you say? >> well, let's pretend it was actual asset class, which it is not. i think, i watched fox's interview with jordan belfort five times over and over again. i think he discussed why you have a small float, why it is going up but i'm here today to tell you about how you trade a bubble, a fad, a pump and dump. rig

jeffries for five minutes. >> thank you, mr. chairman. there are approximately 14,000 special agents within the f.b.i., is that correct? >> 36,000 total employees. >> a majority of those f.b.i. special agents are registered republicans? >> i haven't asked them and i wouldn't want to speculate. >> fair to say a majority of the 14,000 f.b.i. special agents have conservative leaning political views like much of the law enforcement community throughout the entire nation? >> i'm certain many of them do. i haven't counted. >> the department of justice apparently last evening invited a group of reporters to its offices to view the private text messages that were sent during the election by peter strzok and lisa page, is that correct? >> i believe that's correct. >> who exactly authorized the department of justice in advance of a congressional hearing to invite reporters to come view private text message communications between two department of justice employees who are the subject of a pending investigation. >> that's important question you ask,

thank, scott jeffry, i lost take on silver and gold i would agree with you and most investors right now, they don't each want to hear that conversation, but going back a little bit it sounds like the fixes. investors is in for a tightening and what kind of impact do you see on the mortgage-backed security market as well as the muney bond market? >> i there's a lot of securities in that market that's a ten-year maturity and you have trits involved in that asset, and most products have tightiened in their spreads including mortgage-backed securities, including commodities and includes junk bonds for sure so there's really no place to hide when it comes to interest rate risk or credit risk muneys look overvalued maybe they have gotten overvalue the because people are thinking that people like me will get a tax increase so maybe munis will be helpful to them one of these days munis may be capped in terms of their deductibility, too, now that we've added a capping idea to the tax system where you have -- it's only one step away and that that is the a really good position one thing that they

jeffries: yogi berra once said is like deja vu all over again. today, we are back on the house floor after this egg, dramatic celebration of this supposedly historic bill. a republican tax bill that is nothing more than a wolf in sheep's clothing, a classic bait and switch. it is a ponzi scheme. the jobs will never materialize. it is a republican tax bill that is simply designed to benefit millionaires and billionaires, the wealthy and the well-off, special interests, corporations, and big donors. it is a shameful abdication of responsibility, a dereliction of duty, and an incredible malicious act of legislative malpractice. it is based on this phony, fraudulent, and fake theory of trickle-down economics. where is there any evidence that trickle-down economics has ever worked for the american people? ronald reagan cut taxes for millionaires in 1981. we didn't get strong economic growth. we got a deficit that exploded. forge w. bush cut taxes millionaires and billionaires in 2001 and 2003. we didn't get strong economic growth. we got the worst eco

. >> i want to bring in new york democratic congressman hakeem jeffries in that hearing questions rosensteingood to see you. your colleague, jim jordan of ohio says, look, you have agents involved in the investigation exchanging text messages calls donald trump and idiot and menace, the public has lost faith in the investigation. does he have a point? >> he absolutely does not have a point. bob mueller is an incredibly well-respected talented law enforcement professional for the last several decades has been receiving nothing but praise from both sides of the aisle, from democrats and republicans, from progressives and from conservatives, for his service to this country. it's only now, because donald trump has directed his allies on the hill to engage in this false narrative that this is a hoax and a witch-hunt that bob mueller has come under attack. >> so you think that this is some sort of plan to get bob mueller to look bad, but will it work? >> absolutely. this is nothing more than a hollywood-style production. we have a reality show host in the presidency massacre aquerad if he's comman