he sent his friend john rut rutledge. but because his friend john rutledge played a farrell couldn't -- fairly controversial role in the adoption of the jay treaty, the senate voted rutledge down. washington, not wanting to be embarrassed again, knowing that he needed the consent of the united states senate to get someone into that role picked one of the sean's own -- senate's own. he picked oliver ellsworth who was the foremost expert on the judiciary in the united states senate and he became the chief justice of the united states supreme court. his bust sits inside the old supreme court chamber here in the united states senate today. i tell that story only because it's a reminder that at the very earliest stages of the american republic, the senate decided to exercise its indies cession when it -- discretion when it came to decisions of the united states supreme court by the president of the united states. george washington figured out pretty quickly that it not owe automatic deference when it comes to choices placed be

how many know john rutledge or aubrey ellsworth? or even fred vincent? i would've thought it would be one of the devastating questions during my confirmation hearing, a case will be the 17th chief justice. name is 2016 as you can. many ofld -- name as the 16 as you can. that would embarrassing. figure whoy that a they were and learn about them. i think there were a valuable lessons. some people cheated. john marshall insisted that they lived in the same house in washington and he was one of the largest importers in north america. they would discuss the cases over dinner and everybody left him. -- loved him. pleasantessor was very and very direct and very fair. and i think those are very important traits for a chief justice to have. you hold the reins of power. if you took on them to tightly --. you do have to appreciate that and figure out leadership that works. you mentioned who knows chief justice morrison, i mentioned earlier. justice kennedy wanted a couple of cases. justice was chief morrison. one of the first 14 amendment cases. talk let the worklo

how many know john rutledge? morrison waite? fred vincent? i would have thought it would have been one of the devastating questions during my confirmation hearings. ok, you will be the 17th chief justice if you get through. name as many of the 16 as you can. that would have been very embarrassing. question, ito your try to study goes and figure out who they were and learn a little bit about them. i think there were valuable lessons. some people cheated. john marshall insisted that the justices live in the same boarding house. he was one of the largest importers of madeira. they would discuss the cases over dinner and everybody loved him. very pleasant was and very direct and very fair. think those are very important trade for a chief justice to have. as a chief justice, you hold the reins of power. if you taught on it too tightly, you will find out they are not attached to anything. in to appreciate that figuring out a style of leadership that works. professor stein: i mentioned earlier that justice kennedy .anted a couple of cases let's talk

and then how many know john rutledge or oliver ellsworth or morrison waite or even fred vincent? i would've thought it would've been one of the devastating questions during my confirmation hearing it one of the centers okay, you will be the 17th chief justice if you get through. name as many of the 16 as you can. [laughing] that would've been very embarrassing. there are only 16 and -- anyway, to get back to your question, so i did try to study those and figure out who they were and learn a little bit about them. i think there were valuable lessons. some people cheated. john marshall insisted that the justices live in the same boardinghouse in washington, and use one of the largest importers of madeira in north america. it we discussed the cases over dinner and everybody loved him. my predecessor was very pleasant, very direct and very fair. and i think those are very important traits for a chief justice to have. because as the chief justice you hold the reins of power, but if you tell got been too tightly you find that they are not attached to anything. so you do have to kind of

. >> john rutledge joins us to talk more about this i wonder if you agree with tony that it's stiffing as opposed to yields and whether or not -- if italy is dealing with this problem now, does that cross the ocean and visit us some time >> you know, i think in markets like this last week, first thing i would say is this is not 2008. second thing is amazon is not lehman the world is not falling apart i think fundamentals are good. looks like softening in capital spending and inventory build-up in the last number basically i don't think that's the real issue the issue is there's always been two economies. there's a gde economy and then the markets which are ten times bigger and tony is right that some of these got too big and the fact is that amazon is a great company and ali baba is a great company and none of that has changed by the fact that stock prices are falling so i'll take amazon and alibaba. so usually when you get such a big decline for stock prices, and we're heading for our worst october in years, and a growth scare, you see a flight to safety into treasuries and see yields

this is something cramer has been talking about joining us to react to the report is john rutledge withl investment firm safinad we keep hearing that be the envy of any country is it really 6.5%? how much of that is investment from the government that's not really going to pay off? how much of it is organic and real that we could -- that we could be admiring and how much is sort of femoral or whatever word you want to use >> i would use the phrase kentucky windage numbers in china always have a certain amount of plus or ni ne minus around them. the problem is it's always been that way 6.6 is like saying the shortest guy in the nba, it's still a huge number. but truth is it's slowing. it's masking, i think, a much bigger problem developing. the owners of businesses that i know and investors in china are deciding that the trade war with the u.s. is morphing into a longer-term cold war of sorts. and that it's not going to go away when the tariffs go away, if they do which means that right now if you try to go to vietnam and book a hotel room, they're all full of chinese guys moving their b