of course our guest host today is larry fink, blackrock's chairman and ceo. lee, welcome.leasure to have you here. >> thanks for having me. >> we are watching at what's happening in europe right now. i have to wonder if you look at what's happening there and think it's what was happening here in 2008. does it remind you of the same thing? >> there are quite a few similarities and quite a few important differences. i have great sympathy for what policy makers are going through over there right now. they watched and learned from some of what we did here in terms of what worked and some of the things that were a bit more challenging. the first lesson of fighting a financial crisis, you guys have talked about this is the earlier you act, the greater act with which you act and the more comprehensively you act, the better the outcomes in terms of employment, growth of the economy, cost of borrowing for households and businesses and ultimately cost to the taxpayer. it has taken a bit longer than i think many would like for the europeans to follow down that path. they seem to be m

welcome to our program, tonight we take snapshot of two important issues of our time, we begin with larry fink, on the economy and wall street. >> i wouldn't call it full-scale economic recovery but we are going to start creating jobs and housings again, so, you know, i believe whoever is president is going to have that benefit in 2014. >> yes. >> that housing is going to be on the upswing. so to me, much of, you know, much about life is timing, we all say that. >> rose: right. >> well the same thing if you running a country it is about timing and, you know, we -- if you think about government policy, all government policy could do is accelerate the filtering of this excess inventory it doesn't long-term fix anything and so i would asked repeatedly by washington, what can we do about housing? and i said time. >> rose: we continue with john heilemann on politics. >> they ran a lot of negative ads in 2008 more ads against john mccain than any presidential candidate that ran before but the tone of that campaign if you think about the ratio of attacks on the opponents, opponents versus talk about

larry fink says facebook could be a long-term play, a good one. he oversees $3 trillion in assets.he says carries a lot. we'll take a look at the charts in a moment, maria. >>> and stick around for my interview with federal reserve bank of chicago head, charles evans. coming up. stay with us. a living, breathing intelligence helping business, do more business. in here, opportunities are created and protected. gonna need more wool! demand is instantly recognized and securely acted on across the company. around the world. turning a new trend, into a global phenomenon. it's the at&t network -- securing a world of new opportunities. ♪ i'm making my money do more. i'm consolidating my assets. i'm not paying hidden fees or high commissions. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and more. come see why more investors are saying... i'm with scottrade. [ creaking ] [ male announcer ]

larry fink is a big global thinker. he's a fixed income guy. i don't know, do we have this -- let's take a listen to this. >> this is a country that has been blessed with so much natural resources. you know, we can determine there is natural gas and we can do many things for jobs. >> world dutch announces a world venture to be able to open natural gas. larry fink resonates with the people of ohio, louisiana, texas, oklahoma,. >> melissa? >> oh, absolutely. just standing counsel a little bit. but, yeah, obviously we're certainly waiting eagerly, this was a china-led rally. you have to wonder if what bernanke said, if he tows the party line, if that's going to impact the day. >> i've been getting random chatter. this is a china rally, you're absolutely right, melissa. i'm a little concerned again. we're going to come back to something thaw said. let's not give back the gains. and then if bernanke -- >> simon hobb is going to join a us at the top hour. in terms of the rally in chin and we're getting wronged and we were engaged in conversation whet

larry fink stays, bob is gone.- anyway. >> when we come back, alternative exchange traded funds. how motif is looking to change the way investors think. and at the top of the hour, a thorn in the side of wall street banks. analyst mike mayo has issued numerous calls to sell the sector. ♪ i'm making my money do more. ♪ i'm consolidating my assets. i'm not paying hidden fees or high commissions. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and more. come see why more investors are saying... i'm with scottrade. come see why more investors are saying... you want to save money on car insurance? no problem. you want to save money on rv insurance? no problem. you want to save money on motorcycle insurance? no problem. you want to find a place to park all these things? fuggedaboud it. this is new york. hey little guy, wake

our guest host will be larry fink, blackrock chairman and ceo. plus cftc chairman larry gensler. don't miss "squawk box" tomorrow. >>> welcome back, everybody. if you're just waking up, look out. there's a surprise this morning. we're actually looking at the dow futures up by triple digits. those dow futures up by 107 points. s&p futures up by almost 1%. in our headlines home depot is out with news. the company says it expects its 2012 share buy back to be about $4 billion, up $500 million from its prior guidance. >> today's national forecast, alex wallace is joining us from the weather channel. >> we got more in the way of rain this morning in the eastern part of the country, this morning stretching across parts of northeast some light showers moving across new york state. heavier rains, those carolinas, back down through georgia and even into florida where we're tracking stronger storms there. active weather here into texas, we're fining out this morning between lubbock and san angelo. heavy rain and more activity off to the north, northern parts of the plains all in associatio

. >> harrison, when you show up, though, we spoke with larry fink last week who had just come back.id a lot of european investors would not be willing to buy any more of the sovereign debt. they're very concerned at this point. my guess is you guys are doing what you've done before, which is taking a look in miami and other places where when we were in trouble here, you guys went in and bought assets at a huge deep discount, correct? >> that's correct. >> i'm sure you guys have heard many times the rules of real estate and the three most important things which is timing, timing, timing. >> i thought it was location. >> it's timing, timing, timing. timing can make a dumb buyer very smart and vice versa. in the case of miami, we found the assets we bought recently and the projects we've gotten ourselves involved in were great in terms of the timing. it was a place that was super distressed that has great fundamentals. that's why in the last couple we'res we've seen it swing up. >> spanish real estate's going to be selling at a huge discount. >> you're talking 40%, 50%, 60% off? >> yea