i say what, are you larry fink? you talk like larry fink. so i say okay, screw it. i added it up. we've been in 10, 12 proxy fights over the last three, four years. maybe we got votes. lair has differe larry has different statistics. we were talking in there. we're friendly. i said my statistics are vastly different. i think they voted for us maybe two times out of 12. and i can read the companies off. i have them here. i would say this. that i think blackrock is an extremely dangerous company. and i mean this. not that larry's dangerous. he's a good guy. what blackrock is doing, and i really mean this, and i'll just say what i mean, i'm too old to not say what i mean, and i don't hold back. that what is happening is very dangerous in our markets today. as larry said, high yields are now $1.5 trillion. 450 billion of that is in these etfs and what have you. more importantly, they are overpriced because if you go down and look at the index, and now i could get into some arcane stuff, but what a lot of these guys do, i suspect, including blackrock and the others, is these things, th

billionaires carl icahn and larry fink together. they'll be debating activist, investing live during our delivering alpha conference. it's still going on in new york city. you will not want to miss that coming up live here. >> and we will take you back to athens where protests heating up outside the parliament. we're back in two. when you're not confident your company's data is secure the possibility of a breach can quickly become the only thing you think about. that's where at&t can help. at at&t we monitor our network traffic so we can see things others can't. mitigating risks across your business. leaving you free to focus on what matters most. >>> welcome back. netflix shares down nearly 3% today. ahead of the earnings due out after the bell. >> joining us now for a preview. an analyst and managing director at morgan stanley. this has been one of the momentum stocks of the year. they just had the 7 for 1 split. what are you expecting from this company in the earnings tonight, ben? >> well as you know the focus is always subscrib

but i hope he'll be here. >> you and larry fink together? >> sure.fink and pretend to be icahn. sure. >> most management are what? >> dumb as the next guy. you don't want anybody that's going to challenge anyone. >> because they're morons. >> how did you know to sell net innics? >> this is off the record. >> how did you know to sell netflix? >> it was a great deal for us. >> too early though. >> it was a quadruple. sometimes you got to leave a little bit on the table. actually, that's not icahn. i don't know who that is. >> rocky. >> i thought it was perfect. >> i got to work on channelling that. but i have a bunch -- we have on our best ideas panel, we're going to be hearing from starboard. there's an idea there to not miss. keith meister who is a huge activist. and tom sandell. more in the mid-cap to smaller cap bob evans one of the ones he took on. all new ideas from activists. that's a couple hours from now as well. >> can i ask you guys when you look at a situation like dupont where dupont won and yet the activist has been in there for a long ti

and this came straight from larry fink. i don't know if he wrote it -- neil: and larry fink is? >> the head of blackrock who's been on a roll against karl icahn because they go after his buddies in corporate america. larry wants to be treasury secretary. he put cheryl mills, a hillary clinton confidant, on the board at blackrock. what she knows about investing is another story. i never thought of her as some sort of person i want watching over the management of my money. he's been going on a year, and he's a big hillary clinton supporter, and basically, she pulled this page from larry fink's speeches over the past year because i'll tell you, neil, it's easy. it's an easy park. she pisses off nowhere except a band of -- neil: i understand that, but have we seen a discernible study where you can go when you raise the cap gains rate, you put a chill on investing? the biggest example i remember from her husband, bill clinton, is even though he raised the top rate at the time, he lowered invest -- >> later. >> took that rate down to 20%. and a boom fold. >> listen, one of the good th

why is larry fink wrong? >> i have a lot of respect for larry fink. i just think he's wrong. don't think the government should dictate time horizons. okay? this doesn't mean i agree with carl icahn on everything. i'm not thinking about carl icahn. i'm thinking more about the ordinary investor. look, if i see a good business opportunity, if i see a new start-up opportunity, why should the government stop me or penalize me from selling now, taking profits off the table, and re-investing it into a brand-new business which by the way, might create 20,000 new jobs if we hit the technology jackpot? i don't want government involved in this. it loses money for the federal budget and it discourages all the animal spirits of economic reform. can i be honest with you? larry fink is a sincere guy. i'd love to him to talk to him about this long term/short term thing. but i do not think ms. clinton is doing anything here john but playing politics. she's trying to thread the needle between the bernie sanders left wing socialist crowd. >> at a future time larry, i'd love to hear you talk abo

larry fink said take a long-term view. tyler, when hillary clinton actually lays out the numbers here that debate will be engaged more fully. >> john harwood from washington. >>> is hillary clinton's plan to change the capital gains tax good for investors? jared bernstein, senior fellow at the center on budget and policy priorities james petikoukis from the american enterprise institute. both are cnbc contributors. jim, let me start with you and ask whether you think this idea has legs. >> well it doesn't have legs. battles over tax rates, particularly capital gains tax rates are one of the toughest battles in washington but occasionally they do thing as john pointed out. i think the merits of having sort of a gradated capital gains tax rate there might be something to it to try to push companies to have more longer term emphasis to focus more on long-term investment and less perhaps on share buybacks dividends, that sort of thing. but i think this is basically the larry fink plan. but his actual plan though would have tak

larry fink the ceo of black rock. charles: we're awaiting decision of patriot quarterback tom brady, with his role in deflate gate. >> charles, will tom brady get a pass from goodell in his decision? charles: i like that there we're wait for goodell's decision, relateds 4 game suspension for knowing that patriots reduced or messed with air pressure in the footballs during the afc championship game, some think that nfl might want to bury this decision, late on a friday afternoon. before a summer weekend. decision has to come down soon, brady has been suspended for first 4 games of next season, patriot's training camp starts in two weeks. watch for goodell to do what is right for his image and the image of the like, protecting the integrity of the game, which at times seems more important than say punishing domestic abuse, get this, greg hardy now with cowboys had his 10 game suspension cut to 4 for assaulting his ex-girlfriend, that decision made by an independent arbitrator not goodell. they predict that breadthy's su

neil: after you said nasty stuff. >> about larry fink, larry fink puts on the board cheryl mills. on one corporate board, black rock. she has no financial experience, she's on the corporate board, black rock does a lot of business with the federal government, during the tarp bailout. this is about crony capitalism and they couldn't care less. that said, at some point, if biden gets in, that will show that the money guys aren't worried but that would show that the political base is worried. neil: would the money guys read this, the blood in the water, sharks start circling because she looks vulnerable? >> by the way, we're talking money guys, where is our guy robert wolf, right? secretary of advisers now, i talked to him yesterday, he's away on vacation, and not saying too much. >> point out who robert wolf is, he ran ubs americas at the time when ubs the swiss bank was under investigation by the irs for those -- for people using the bank accounts as a tax dodge. robert says to me, had nothing to do with the stuff with the clinton foundation, any directing of money. isn't it odd, a

wouldn't be complete, scott, without a closer from carl icahn who is hopefully going to debate larry finksubject of activism itself, something i would like to see and hopefully he'll shed light on his recent decision to dump shares of netflix and maybe give us his latest thoughts on apple. always constructive ideas there. >> kate, looking forward very much to that, all of us are, in fact. kate kelly, we'll see you tomorrow. >> we'll be live from delivering alpha, tune in for jeff gundlach's reaction to janet yellen's testimony on capitol hill and i'll moderate the discussion between carl icahn and larry fink. go to alpha.com for all the details. you want to make a comment? >> i think that's a great debate and lots of interesting dynamics, but i'm on the side of carl icahn on this one because my -- i happen to be involved in a couple of interesting dynamics in a proxy war, and my list investors, they don't -- spe spend the lip service on how they vote. they just don't get it. or they get it. tops down. they have a political agenda, not an economic agenda. i work for my clients on an econom

. >> i don't know whether to hate you for more making me listen to that or hate larry fink at black rock for giving her dopey ideas about short term -- listen this is purely politics. it makes no sense. have some sort of -- >> listen okay let me -- but here's -- >> here's the politics. adam you should love this. she needs a -- >> i'm listening. >> she needs a wall street whipping boy. she can't beat up on goldman sachs because they give her -- they actually paid her money to listen to her speak like that by the way. that should be a shareholder revolt at goldman sachs. they can't -- she can't beat up on them or private equity because they pay her money too. they should be, you know blackstone should be in big trouble with their shareholders. >> so she has to go after -- >> she ha to go after the smallest piece of the wall street apparatus, the activists, so she can say to bernie sanders, i'm beating up on somebody big. >> adam? >> as political analysis goes it's lot bad. she said if you're a traitor, if you're a hair-trigger trader and go in and out of these stocks that's your job. that'

our leadership tomorrow includes larry fink and jamie dye nan.will be right back. >>> welcome back to "squawk box" this morning. among the stories front and center, iran and six world powers reaching a nuclear deal this morning. here's what president obama had to say about the agreement. >> today after two years of negotiations, the united states together with our international partners has achieved something that decades of animosity has not. a comprehensive long-term deal with iran that will prevent it from obtaining a nuclear weapon. >> and oil prices are moving lower this morning as a result of that deal. wti crude right now at $51.49. >>> couple other headlines. fanduel announcing today it has raised $275 million. partners include nbc sports ventures and comcast ventures. also google incorporating hiring and ways to run more efficiently. taking a stricter approach to its costs as it gets bigger and perhaps as a result of its new cfo who they say is a driving force behind those cost-cutting moves. >>> it is a busy week for earnings and econom

. >> even if you sounds like larry fink. is there no asset in the entire economy? speaking there about the equity market. larry sfink is starting to sound a lot like me. what's happened is market peaked in june. it was fantastic. runup, to buy stocks turned down as mania's do july 4th they said timeout. we have to stop this. it has not been successful. there is a lot of stock, carl that is still for sale. that's why you have these down days if in fact beijing is not intervening and buying stock. >> beyond the alargeing some okay churning stockmarket move the question everyone has, what does it mean for the real economy there? especially the consumer. a lot of american companies are exposed to. >> well for the chinese consumer. i think it's a relatively small event. equities are only about 10% of household wealth in china. 40% is housing. 25% is the bank. maybe 10% in equity the other 25% everything else. this is a symptom of a bad economy in china and that's what the foreign companies and domestics are getting hammered by. >> we were getting coin data pretty much a

you and larry fink go on. >> given all to me right now. >> there are studies and -- a higher short-termal gains in a long-term rate. is your view we should never have done that. >> and you and i disagree with that. day trading is certainly bad for the economy. nelson peltz and carl icahn poses grave economic threat because they force apple or dupont to do stock buybacks. cheryl: seems like your point is she has nobody else to go after. and going after goldman she needs their money. taking some much money from the clinton foundation and her own coffers and have their own speeches, that was the worst speech in the world, can you imagine a 400 grand to listen to that nonsense for two hours that she does that, gets all this money from goldman, all this money from blackstone and guys like tony james out there in private equity land so she goes after is this narrow narrow part of wall street and huge economic problem and take her at this word is small potatoes. cheryl: is that the strategy? >> give us one example something you cut from the budget. this is an example and they say that is not v

do you think there is any sort of mechanism that could incentivize more long-termism l la, what larry finklking about? >> one, compensate managers over a minimum of a three year cycle. the second, stagger boards. if you really want to go down this road, make it so the boards are not as subject to short-term pressures from shareholders. then you will also lose good shareholders, the white hat shareholders won't have their voice heard, either. third, most controversially, get rid of quarterly earnings reports. allow them, but don't allow the forward-looking guidance that forms the beat, they did not beat, they beat, they did not beat, which is what it is about. if you remove that -- olivia: that is never going to happen. >> giving 10 years to boards, is that healthy? olivia: restructure compensation, restructure boards. fabio, thank you so much. i went to get over to breaking news in the newsroom on chrysler. is recallingrysler millions of vehicles due to a hacking issue. areuple of software hackers able to hack into a jeep and take control. at the time, yet chrysler says it was offering a s

wrote ak's larry fink letter to s&p 500 ceos urging them to resist shareholder payouts if it means, risingng-term opportunities. with stockholders still enjoying a bull market, investors may not be as concerned about ceo pay that get a boost from buybacks or dividends. if the market trends, tensions could rise. scarlet: what is interesting with all of this is that there is a lot of research on this and he found that companies tend to be really bad market timers. they buy back their own chairs that too high a price and it doesn't benefit shareholders even as it does increase earnings per share. alix: there is a quiet period where countries are not allowed to buy back shares. you need to look at the correlation with the stock price to see what it does. scarlet: the other thing is that tech companies -- we know so many of the facebooks and twitters, they end up giving stock options to employees. if the companies actually exercise their options, there is a lot more shares in the market and buying back could be removing excess supply. scarlet: they have the balls to consider. alix: push and pul

among the highest corporate tax rates in the world -- she loses wall street supporters, people like larry finkays we need lower tax rates to make us more competitive in the world and you can go down the line. that's what i wonder about. this is what the wall street guys say. her speech mostly platitude. when she getness there she is not going do be the leftist bernie sanders she is appearing to be. >> is she telling donors, the people with the money telling them a different story from what she just said today? >> yes. >> she is bashing the rich, bashing corporate america. >> i know someone in new york that was in a meeting with one of her fundraiser, who came to speak to some well-heeled individuals and said point blank, don't listen to all the rhetoric. hillary clinton is someone that wall street will ultimately love. she is a huge supporter of israel which is a 1 180 from the current president, and much more moderate. that this line the fundraiser are giving to well-heeled vivids in new york. whether that true, i can only say that. that would hold true if the democratic party was the democra

larry fink from black rock, world's biggest money manager, is one of the people who has been very outspoken about the need for short-term thinking. mckinsey, consulting firm, has a to combatect short-term thinking. these are not radical lefties. do have heard taking deposition does not put her out on the fringe. betty: as you say -- >> there are people who disagree with it, but in the solid democratic mainstream. betty: do you think this will curb long-term thinking? >> i think it could have an effect. i think it will be a heavy lift to ever get it implemented. i think what we seeing is hillary clinton trying to appease the left, which is continuously pulling her politically because of bernie sanders'entry to the race but also maintaining the stance of being electable in the election. we all agree capital gains needs to be reformed. one thing that really needs to be addressed is rewarding job generating activity, like my business, the real estate taxesss, where we all pay at the highest rate at the ordinary income level rate and not the capital gains rate, and we're the ones creating millio

. >>> and plus, to henry paulson to larry fink, many have raised red flags about perceived lack of liquiditye bond market. are those overblown? bonnie will give us her outlook. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. what if there were only one kind of dog? then it would be easy to know everything about that one breed. but in fact, there are over three hundred breeds of dogs. because no one can be an expert in every one... an app powered by ibm watson will help vets tap specialized knowledge in the cloud for every breed... and whatever else walks, flies or slithers through the door. ibm watson is working to make medicine smarter every day. >>> all right. we're back. time for our trader blitz. three stocks making news. sea gate, the stock is down, why? >> well,

our morning line-up, blackrock's chairman and ceo larry fink and esther dyson and christopher elman chiefofficer at the california teachers retirement system. it will be a great day of coverage tomorrow. we're a few minutes away from the european close. mostly green today. simon is here to wrap it up. >> in fact we move positive throughout the session as wall street opened in positive territory. so you had a week of gains in europe that's taken the broad market up. almost 7% during that period of time. deutsche bank putting it there's the perception that greece has been removed, as a major catalyst, a risk through the rest of the summer albeit with elections in the autumn. we'll see if that turns out to be true. the bank of england aligned with the fed in raising interest rates, the governor there, the canadian running the bank of england suggesting the point at which interest rates may begin to rise, is moving closer. once rates begin to rise we expect those adjustments to be at a gradual pace and to be of in a limited extent. but you did see it draw some of the uk home builders lower. h

scott walker will be moderating a conversation between blackrock's larry fink and carl icahn during the:00 p.m. eastern fire. sure to be full of fireworks. for more information go to deliveringalpha.com for all the details. still ahead on "fast money" micron on the move. the stock jumping 11% today on reports the chinese chip maker could be preparing a bid. what about the next m&a targets in the space? your chip stock shopping list next. speaking of m&a shares of twitter on a wild ride today after a hoax report that the company received a buyout offer. ahead we'll find out why some traders think the stock is heading even higher. stay tuned. then it would be easy to know everything about that one breed. but in fact, there are over three hundred breeds of dogs. because no one can be an expert in every one... an app powered by ibm watson will help vets tap specialized knowledge in the cloud for every breed... and whatever else walks, flies or slithers through the door. ibm watson is working to make medicine smarter every day. >>> welcome back to "fast money." u.s. markets finishing in the

we'll hear from blackrock's larry fink as well and carl icahn. so you will not want to miss that.gain, this wednesday. coming up next, oil has gone up 13% in just the past month but this man here has ab undn under radar play that could get a boost or that decline. plus it's all-star week and we've got your all-star stock picks, names that could be a home run for your portfolio. stay tuned. the challenges of keeping everyone working together can quickly become the only thing you think about. that's where at&t can help. at&t has 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. i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet? >>> welcome back to "fast money." stocks sta

here's what larry fink told us on squawk box yesterday. >> after greece parliament passes it then you're going to shine everything on to berlin because you're go to have to have the germans pass this and they promised by friday. so we'll have this rolling tension as each government has to approve this new loan package and then probably the most important issue that we have not focused enough about it is the bridge loan. it's essential because it will take time to approve the new package. greece needs money next week. >> we have seen the latest stuff you saw. the euro area said to aagreed in principle on the loan. >> but there was something else i saw that sounded like they wouldn't be extending the credit to the banks immediately. that's a huge question too. those bank versus been closed about 2.5 weeks at this point. that is one of the things they have been waiting on. >> they need six parliaments here but apparently at this point -- this is coming from mark grant who the last thing he wants to do is -- >> inflame things. >> say it might work because -- >> he's been very vocal. >> it's

this is a plan that is backed by people like larry fink who we had a debate at delivering alpha last carl icahn, the activist investors are trying to push for more rapid returns for investors. some in corporate america want a longer term view. that's what hillary clinton is trying to push. there are other proposals to do that. those will be rolled out and this is happening on a day where hillary clinton has seen headlines about the criminal referral for an e-mail investigation to the justice department about the handling of her e-mail. she's hoping that this speech will overtake those. we'll see how that develops later today. >> thanks very much. john reporting from new york. interesting. sliding scale on capital gains. >>> shares of starbucks getting a boost today. the president and coo was on mad money last night and he had this to say about the third quarter. >> i think this was the strongest, most remarkable quarter in the 23-year history of being a publicly traded company, and i think the growth we posted and the comps we posted, i think they all support the company. it's execut

larry fink was making the case of blackrock making the case that we need more longer term responsiblet of companies and not play for the quick buck. just to set the stage, let's do a quick recap of the history of cap gains taxes. we haven't had a differential between the top income tax rate and top capital gains rate. after the tax reform in 1986 they were the same at 28%. bill clinton came in after his balanced budget deal with republicans. we had a renewed differential. capital gains of 20. when george w. bush came into office both rates came down. 35% and 15% for capital gains. under president obama's fiscal cliff deal 39.6% honored income and top rate of 23.8% on capital gains. hillary clinton is going to propose a gradation. assets held less than a year is taxes ordinary income. she is looking having a couple of levels. not less than a year but two or three years and longer-term level. is the debate going to get more attention or is donald trump? that is the political question of the week. >> he seems to be holding that ball when it comes to attention. we want to bring dr. j into

we'll hear from senator ted cruz carl icahn, larry fink and a lot more when "squawk on the street" continuesen a rewards card is designed to sync with your life it gets talked about... ♪ ♪ ♪ so you can live the way you live, and enjoy all the rewards. chase sapphire preferred. so you can. so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep them all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberyy apple scones smell about done. ahh, you're good. i like to bake. with at&t get up to $400 dollars in total savings on tools to manage your business. are you moving forward fast enough? everywhere you look, it strategy is now business strategy. and a partnership with hp can help you accelerate down a path created by people, technology and ideas. to move your company from what it is now... to what it needs to become. can a business hav

. >> there is serious pushback, larry fink is the example with the problem with these activists is ar short-term results which anyone can have better numbers next quarter by cutting are indeed a two or three years from now will that hurt the performance of the company and taking it to the competitiveness of the american economy. he thinks it is up from them. sympathy for him in the case of pell, he is not a -- recalls himself a constructive activist. he wants to make the company better for the long term. >> headline on the screen, univision filing for an idea of crossing the wires right now. what you're writing about in terms of ipos, much busier in june in terms of ipos that a lot of people were expecting. >> often as the market gets better that is a signal that you are approaching a market top, they want to cash out when the getting is good. blackstone before the crash is that classic example. it is how little worrisome. on an investor the time to buy ibms is when the market is doing poorly. if you can't come to market a bad market unless you have a good company things get bubbley

. >>> switching topics hillary clinton releasing on what i'm calling the larry fink capital gains fundu're going to introduce capital gains to try to get people to invest. does that work? >> it may work. it's not exactly what he's suggesting, it goes down to zero if you're 6 or 8. it got swamped by eat mailthe e-mail story. if you want to unite pro growth for democrats, you say let's raise taxes on capital gains. >> and it's a telling thing, too. by her position is this the move that fires up the left? >> no it's not. >> it's a yawner? >> it's a yawner. they're never going to satisfy the bernie sanders folks. with that increase. but you want to appeal to them by saying i am willing to raise taxes on the wealthy somewhat without losing the center and wall street democrats. so they're trying to thread that needle but all anybody talked about was the e-mail problem. >> is it a problem? >> it's on obviously a problem, when you're sending state department e-mails from your private e-mail. >> is that a problem for her. >> well it could become much of a problem if it's proven she knew she had