ken langone and dick grasso.> let's start this off with what carl was saying yesterday. i'd love to get your opinions on what you think he's been out there with. he was referring to high yield bonds and what he was talking about. he's been negative on the markets for i think over the last year. >> couple of years, actually. i think if you dissect what carl has said collectively, high yield certainly in the private market when you look at what's happened with things like uber okay? you can make a strong case that he's dead on. but in the public markets, the question becomes will there be spillover when you see down rounds in the private market. or will there be spillover from when the fed begins hiking rates. the only thing the fed hasn't done is rent a sky writer over manhattan. and announce, if you will, their plan. you know the public has chased yield. i think the spread between -- the credit spread between high yield and safe assets treasuries and the like is artificially low. there's going to be a price to pa

. >> well another mogul was listening, and let's say home depot co-founder ken langone immediately gotd. >> he is effectively saying she's saying things she doesn't believe in. very frankly, it's the john's of the world that allow these people to mislead us to get elected to do something totally different than they said they were going to do. this is what is wrong with politics. >> well he is right. >> who is right? >> ken is right. we should point out that john mack is trying to be treasury secretary. he thinks that he has a shot at it. >> you say that. you might genuinely have -- >> yes, but he does want to be treasury secretary. these guys want to end their career on a high note. >> a jaded, cynical -- >> he might genuinely like hillary clinton, but he wants a job. >> he wants his name on the dollar bill. >> you are right. >> he wants -- he would be a better secretary than jack lu. he would be a good one. the problem is that john doesn't realize this is not the democratic party that he thinks it is. it's not the democratic party of him and his friend larry fink at black rock that ar

he has ken langone and nick lobe. both these guys are pretty active fund-raisers.will have money. maybe not as much as jeb or scott walker but he will have money. >> the more money you have the more you get your message out to the masses. >> -- in the past. >> i love ken langone. >> ken run as good business. >> joe, ken is a very good businessman. he is guy said rudy giuliani, you know how many arms he twisted last time around? but he doesn't have the same political calculus. neil: what are the money guys telling you? >> the money guys basically in for bush, they believe it's rubio bush, walker. neil: those three. coming back to those three. >> that is it exactly. i do think our party, i said it over and over again, our party is so fractured it will take two types to win ticket against democrats. take uber conservative and quasi-moderate to come together to make one ticket to be able to beat us, to beat the democrats because the republican party is so fractured. tea party, establishment. >> they are really scared of donald. i'm telling you when i talk to -- neil: n

i had an inkling when long time friend and almost full-time philanthropist ken langone told me i wasative about paul raines and the transformation. i want you and mr. raines to know that i underestimated this man and his team. mea culpa and apologies all around. so here's the bottom line. rumors of gamestop's demise have been greatly exaggerated. i think this stock has a lot more room to run thanks to the multipronged turn around strategy that others are still loathe to admit is happening right before their very eyes. but i think i got the humility to say it's happening. don in virginia don. >> caller: hey, jim, how you doing? i think chesapeake -- a big chesapeake bay booyah to you. hey, look, i have a question for you. king digital. back in -- i guess it was february they had a special -- on the dividend. then they released earnings again in may. since then the stock has been pretty flat. what kind of -- >> i'm not a fan of king. i have some other things that i like so much more. i'm going take 2. i don't need -- take 2. that's the bun to own. it's cheapest. i have to tell you i th

. >> he -- >> ken langone one of his key backers came out and said i'm not going to spend 10 million on -- >> disqualified. with 30% in jersey and bridge gate hanging over his head he can still be compelling politically but he is never going the win the nomination and i think the people with the purse strings know that. >> the only place to go is up. john we're out of time. real quick. >> if he bashes anyone i hope he bashes donald trump, because he the biggest problem we face on the republican side. >> thanks everyone more joining us. the other big story we are going to get to is the president's bounce. one reporter asked at the press conference this afternoon if he's having his, quote, best week ever. and alex interviews lindsey graham in a gonna dole la. and why he likens senator john mccain to the uncle you put in the basement. >> i'm single. a lot of people are. there is nothing about being single that keeps you from being a good leader. to all the single people out there i want you to know that you too can grow up to be president. weed have awe'd have a fun white house. >> you

as for chris christie them dpoe co-founder ken langone has offered his support to the embattled governordy rich. and this isn't the idea of mccain/feingold, of your $2,700. this is about men, generally, who can write checks they can write a check, i went a little southern there they can write a check for almost any amount of money. and they can keep a guy running, like they did with newt gingrich. >> this has a couple of impacts on the race. one is that you may see this with jeb bush as well that people are going to start outsourcing all their activities to super pacs. which are going to spend, you know, get $1 billion -- >> explain why. >> because you can spend all you want. >> a contributor billionaire can give as much as they can to a super pac and only $2,700 to a campaign. if the super pac starts doing the work of your campaign your campaign doesn't have to do that. and as a candidate, you can just not raise money. >> what's this going to start killing our political process? when are people going to say, this stinks? >> it started right after citizens united. it is killing the polit

. >> staying on the retail ken langone was outlining his biggest fear for the u.s.conomy. >> the biggest challenge to america in my mind is income inequality. it has the potential of destabilizing this country that. it's one thing i worry about. that's the one thing we all need to address. >> one company that is addressing that issue of income inequality with its own strategy swedish furniture chain ikea. it raised its minimum wage by 17% last year and it's been so successful, in its view the company is going to do it again. up another 10%. tailoring each store's increase to the cost of living in that area. >> here is ikea's u.s. chief financial officer rob olson. welcome to the program. >> thank you. >> what explicit financial impact have you seen from raising wages? >> what we've seen beyond the altuistic side is decrease in turnover. we've seen a 5% reduction in turnover. a great response from consumers seeing we are trending ahead of the sector and picking up speed as we go throughout the year. >> you opened a couple new stores. the applicant pool was big. >> it

i'm coast-to-coast, former new york stock exchange shared to grasso and director the great ken langonech in the why. >> we also have jk rowling to characterize your approach and tone. stuart: you are lying. >> there is no better put down and to say the interview is over young man. stuart: i will be watching. >> can you imagine that? >> that is good stuff. >> i have to talk to about all this free pr you brought. tree into up next one man on a mission to solve the homeless problem in los angeles. build them tiny houses on wheels. he joins us after this. ♪ you wouldn't take medicine without checking the side effects. hey honey. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck. when you do business everywhere, the challenges of keeping everyone working together can quickly become the only thing you think about. that's where at&t can help. with the tools and the network you need to make working as one easier than ever. virtually anywhere. leaving you free to focus on what matters most. shopping online...

i mean from ken langone to calhoun. there were all kinds of people who he had touched.best friend. >> you know that's a very special thing. because everybody did think they were his best friend. when you think about bankers and people talk about the investment banking industry becoming comodditized can you tell us about the deals with you? >> he was just a guy that always got it done. the thing about jimmy was, he was relentless to pursuing to closure. i can recall one of the biggest deals after my time in private equity. when we were buying the home depot supply company. and we were buying it right in the middle of the 2008 housing collapse. so everybody ran for the hills as laymen went. jimmy kept everybody at the table and brought everybody together. we'll get this done. and he pulled it off. he did a hell of a job. no one could have done that without his personality. people trust him. i mean he had an integrity that was built on years of always doing the right thing. he was a tremendous human being. >> you know there are bankers that pitch ceoo so confidently. how d

but however you get there, i think it's interesting that people like ken langone see it as a huge problems in practice i would respectfully disagree with doug on one point. while income inequality is getting worse around the world, it's much worse here and gotten worse here than anywhere else in the world. that does have something to do with our tax policies and social policies where we do less for people at the bottom than serl other countries. >> you don't think this is a globalization issue, technology issue? >> i think it's a globalization issue. i'm just saying it's happened here more than in other countries. i saw this very visibly when i was working on the auto thing where there were so many auto jobs that had gone to mexico and other places because they have low labor and prices. technology, less so. >> the technology argument you think is not there yet. >> i think it's weaker. we just talked about how weak productivity is weak. you can't say workers are being replaced by robots and productivity is weak in the same sentence. those things are in opposition to each other. the techno