>> larry summers is one of the big proponents over the secular stagnation thesis which i have a lot ofnd he not just summers but a number of very economists claim some serious structural issues that are causing growth to be extremely low. things like rising wealth and income inequality and low productivity growth. all of these things are causing growth to remain low. it is very hard actually to address these issues. so i suspect that the reason why summers is saying there is no case for an interest rate hike are largely related to these issues that he points out about stagnation. he is also referring to fact that there is not enough going on in the way of public sector stimulus in the face of what is very weak private sector demand, the government has to step in and do something. and the government in the u.s. and naturally elsewhere in the world, they are following these -- following these austerity policies and expansion policies. there are more calls for fiscal spending. thes not happening soon enough. the presidential election. anna: that looms large in november. what do you think

bankinge on the fed and sector with treasury secretary larry summers.n interview with him coming up in 25 minutes. outlook for the economy and presidential race with blackstone chairman stephen schwarzman. and we keep an eye on stocks in rally mode here as they rise and hover around the high of the session with volume higher than we have seen over the past 30 days. this is bloomberg. ♪ julie: this is bloomberg markets. time for the bloomberg business flash. a look at the biggest stories in the news right now. the european commission has started an ethics investigation into its former president. they take issue with the decision to accept a position at goldman sachs were he will advise on global issues including the u.k. exit from the block. the president says he does not have a problem with him working at a private bank, just not goldman contributed to the financial crisis. the $66 billion acquisition may jeopardize its business. provides thedeal german company with little scope for other acquisitions and potential deals to boost the biggest moneymaker.

. >> speaking out, why larry summers says new laws have not made banks safer. >>> a 12-year-old winsrica's got talent. it's thursday, september 15th. you're watching "worldwide exchange" on cbc. >>> good morning. i'm sara eisen. >> and i'm will ford frost. >> another selloff yesterday although those gains are slowly disappearing early this morning. dow futures are only up five. s&p futures are down less than half a point. nasdaq futures in search of direction down one point. maybe we'll get that. we get a deluge of economic data as will said. flat to downward for the major averages over there. energy has been away. we saw that yesterday. a mixed session. asian markets were closed overnight. the nikkei found more than 1%. 1.26%. it's now at a multi-month low. stronger yen has been harmful as well as the volatility in the u.s. seg. australia was open and singapore slightly lowered. >> it's, in fact, slipped as the morning haas woken up over this side of the pacific. but let's come to oil prices first before we go to the dollar and we're seeing oil prices rebound a bit from yesterday's

if the fed did rise, isn't larry summers right?ig shock -- this is not an environment where all the sudden the market will price in 100-200 basis points in the coming year. this is a market that expects the fed to raise at a gradual pace. our expectation is that we get the dovish hike, a hike that comes with the guidance that they will go at a very slow pace. that information will keep the markets contained. for our clients, no one is terrified of a rate hike. whether it comes now or in december, 25 basis points isn't going to shake things up that much. ,ark: if it doesn't come today is december nailed on that a hike in december will happen? bricklin: that is kind of our expectation. we get a dovish hike or a hawkish hold. the balance of risk language, that is key for us and we think it will change a bit. we think they will move to language that talks about the , the balancee me of risk changing quite a bit. mark: have a sip of water. vonnie: get your breath. the bank of japan made an impact on the market. there isn't much to it at

we also accused her about why this election is so close and a paper by larry summers arguing the bigo safer today than they were bf the big financial crisis. despite the new regulation. >> there are some parts that are better. hire cap tap reserves thafr than that tl used to be. whether or not they're high enough is open to argument here. part o what wors me is that we're still having a debate right here in congress with the republicans wanting to roll back the regulations that have been put in place. speaker ryan in house is trying to get rid of the consumer financial production bureau. if we hadn't had the consumer financial protection bureau in place to uncover this froud and at least get wells fargo to a admit publicly what had happened and pay $1100 million fine, wells fargo would cheating its customers only you and i wouldn't be here knowing about it. >> i think the original discovery was three years ago. let's tranning sigs to the letters you've written regarding the 2008 '09 financial crisis. you'llme la m the fact that some of the files did not result in any prosecutions and

mark: former treasury secretary larry summers speaking to david gura.ulie: still ahead, deutsche bank shares falling today, down 8.5% on news the u.s. is seeking $14 billion to settle mortgage fraud. the bank says it is not paying that much. we will take why. ♪ -- we will tell you why. ♪ ♪ julie: live from new york i am julie hyman. just 15 minutes to the european close. mark: we are in london, i am mark barton. toyota bankshares still falling by the most since the aftermath of the brexit vote, the bank says the justice department is seeking $14 billion to settle a probe tied to residential mortgage-backed security's. saidstatement, the bank deutsche bank has no intention to settle these potential civil claims anywhere near the number cited. michael moore covers the financial industry for us. what will it end up paying? $14 billion between and $2 billion to $3 billion able were talking about months ago. this is a big gap and the u.s. department of justice being aggressive, they have been aggressive with other banks in the past. in previous cases, the ne

maybe not according to a new paper from larry summers. he will join us live to talk about the safety of the banks today. >>> republican nominee donald trump giving more details about his tax and economic plan a few hours ago. you saw that live here on cnbc. we will bring you details and get reaction from clinton supporter and former economic adviser during clinton administration, laura tyson. >>> tesla is suing an oil industry executive who allegedly sent an e-mail pretending to be elon musk. >> that is just too weird. it wasn't even the same address but he was expecting the cfo to respond and give information. >> it was close enough that you wouldn't have blamed the cfo if he hadn't looked closely enough. >>> let's start with the apple story rising for a fourth consecutive session with a gain of at least 2%. today it is 3.6%. company announcing that the iphone 7 plus has already sold out. the iphone 7 is available in all colors except the most popular, jet black. that is sold out, as well. >> joining us now is will power along with rod c

treasury secretary larry summers says new regulations have actually made banks less safe. co-authored a harvard paper that prevents them from engaging in certain types of risks. only going so far. in an interview summers says to some extent they may have harmed the system. >> they have been efficacious and in their absence, i think we would be look aket a administrator dangerous situation today, but i don't think that one can simply be complaisant and assume that we've now created some kind of system where because we measure less leverage in a regulatory context we can assume it's far safer. summers' paper doesn't argue significantly against regulation arguing that some of it would be more fragile without dodd/frank. i have to say the deutsche bank example is the best way of highlighting his point because 18 billion euros is the market capital of the bank. the asset is $1.6 trillion. that's his exact point. >>> now, still to come, apple's rally shares of the dow component spiking ahead of the iphone's debut. can the moan mem item continue. a lot more discussion on that. >>

and this larry summers attributes his view. >> my pick is "the washington post"."veryone is talking about it, hillary's health that just became a real issue in the presidential campaign. the reason i picked this is because everyone on twitter is pointing, especially to this one. this is chris cilizza saying, quote, clinton and her campaign could laugh off questions about her health before today. the "overheating" episode makes it almost impossible. not only has it come at a time when there was growing chatter that her health was a problem but it also happened at a 9/11 memorial event, an incredibly high-profile moment with lots and lots of cameras and reporters around. he's a writer that a lot of people follow. he had just written that the coughing fit was much to do about nothing, it was not a real issue, it signaled nothing. now it's at the top of the agenda. whether she wants it or not, her campaign has to talk about it and she has to address it. it is unclear how long she'll be on the sidelines not able to campaign. she has to cancel events in california. >> so

larry summers warn that regulators have made financials less safe. >> we need to recognize that those regulations have in a sense been working in an opposite direction to the ones that promote capital. >>> they're opening their doors in central london as diehards wait to get the iphone 7. shares are poised more so than in five years. >>> welcome. you're watching "street signs." it's friday. you know what, louisa, i was woken up by thunderstorms at 4:00 a.m. in the morning. >> i slept right through it. >> you did? so happy for you. >> it's so nasty out there and people are waiting for the iphone. >> it is nasty out there. stocks out there, more headache. >> a lot more. deutsche bank, an interesting one. we'll be looking at that in a second. we'll be talking about the banks throughout the show as well. by all means get involved aet the top of the hour with any of our guests. we're on twitter @carolincnbc and @louisacnbc. >> we're currently lower by 0.3 of a percentage point. when it comes to our european market, you're seeing the same except for the danish markets and the obx. by and la

larry summers. you disagree. >> i do. i disagree significant live with that conclusion because it is based on the notion that markets properly evaluated the risks in banking organizations before the crisis, noel nothing could be further from the truth. >> i'll give you one clothe, in 1788 james mass madeson worried that laws war be so volume now and cannot be read or so incoherent they cannot be understood. a 900 page voelker rule, and you can't tell me with all that rules and regulations you haven't eradicated the threat of too big to time. >> time of the gentleman has expired. this chair now recognizes the gentleman from massachusetts. >> thank you, mr. chair. thank you, madam chair for being here again.. just want to clarify a few things some of my colleagues --e i'm not aware of anybody who doesn't want to amend dodd-frank, including me. want to amend it. just don't want to gut it. good amendments, thoughtful amendments, all for them. gunfighting it? totally against.ra and that's pretty much the only bill wet have bee

larry summers is out there and says one-third of men could be without jobs in 2050?e really downbeat version of this. this is saying, look, it's going to really just reallocate the labor forces. >> i think of technology here. we use a lot of computers, there are robotically controlled cameras. >> it's great the robots are taking over. >> i knew there was something different about you. >> there is a question of who controls the robots. the productivity mail accrue actual of us, but this gets to the whole big question about -- and i know larry summers has been on this a lot, which is the people who own the robots, own the capitol, will get the most of that productivity. >> isn't that the same old argument we've been having? >> yes. and the people are rising up. you walk out on the street, there's a guy that says the world has treated me terrible -- i don't know if you saw this guy out if front of the new york stock exchange just now. in a way, he's a slightly worse off version of a lot of what we're hearing all around the world in developed economies from people whose

larry summers out on twitter with 11 reasons why the fed should not hike rates. h, no -- the economy is too weak to withstand it. all reasons why summers says the fed should not hike. here are the reasons offered in the fed survey for why our panelists remain on hold. 22% say the market's not ready for it. some say the presidential election and also inconsistent and weak job growth. here's where the fed fund futures probability stands going into the meeting. 14.4%. it's up a little bit this morning. it had been a little bit lower. but that's showing you the market is unprepared for that hike. look in the statement for any future rate hikes. does the fed now say it's nearly balanced and removed over brexit. whether there's any benefit right now in the rise of the market. would prompt to think the fed is more hawkish and rating are going to up. not to mention all the volatility and the market selloff. it's hard for me to see any benefit to the economy, to the fed, or to markets here from a surprise today. >> all right, steve leisman. steve, thank you very much. long

david: don't miss our interview with larry summers on the anniversary of the lehman brothers bankruptcyhe has a new paper out on the safety of banks. this is bloomberg. ♪ julie: welcome back to "bloomberg markets." commodity markets are closing in new york. let's take a little tour here. sugar is up 2%, rising. at bmi research it's a global import demand will be strong in the next year amid growing deficits in asia. gasoline is also higher. one of the colonial pipeline will not be restarted until next week. we have gas shipments on hold -- oil climbing from a two week low as stocks advance, seeing a risk on environment today. prices had dropped earlier on the concern of the global supply glut would expand. gold is the outlier here. it is lower because investors say they are confused about what the fed is going to do in terms of rate increases. that is reflecting what we've seen in etf's. chart tok at this illustrate the further decline. largest in the world's exchange traded products dropped. david, you are standing by with more on gold and more on this story. joins us now.ux what a rac

. >> i remember larry summers recent. want want so with all these people love of work but to take those low interest rates to inflate the of bubble of the trade the economy. with the original role of the financial sector to support the real economy roared dash economy. where there is a giant concede our there is more ready to be made to give the spread and the financial markets rather than investing on the real business. so what do we do? wobble so what are those recommendations by. >> i do have a solution chapter in my book but it is a broader way below dash broad array. one i do start to the first biggest to change the narrative. of the east coast policy-making circles was that the financial markets are at the center of everything. so you have to save the banks. with the argument in dyewood flip that the financial markets are services phone -- are meant to serve other industries. so what has happened and only the financial sector and in many cases by one of the chapters of about with how volatile they have become with t

john: can you make larry summers day and recall secular stagnation? >> um... no. >> it is interesting you say that. the termvered that secular stagnation was actually invented by an economist in the the americanve economics association lecture and called the low-inflation, low growth world secular stagnation. it is actually a very old term. but, of course, it did not last forever, did it? i guess the question is whether we can get out of the current low growth, low inflation world -- john: you see this sort of current, not just being a temporary factor. if you think of everything you said, stretching out over a very long time, 2%. this is going to go on for quite some ways. this is not a temporary phase we are living through. five years or 10 years. >> yes. these forces are long-term. and long-term rates will be low for quite a while. john: particular in the context of someone about to leave the central bank, do you think that too much pressure has been put on central bankers? many television shows -- we focus on what such a banks are doing. the markets hang o

golub: first of all, there are areas where i disagree with larry summers patrick we are in a slower environmentt least my read -- this is a hangover from the financial crisis, and for those of us that are not spending now because we were burnt during the financial crisis, we need a boost -- the government to come in to tell us it is ok to spend, or a tax break. i take a different view. i think this is driven by weaker demographics, lower birth rates, a slower china. i think we are in this slower world for a longer period of time. i do, think, though, -- i do think, though, we are likely to see the government intervened with fiscal stimulus. great policy over the long run, i don't know. you see it in japan, canada, china. we see talk about it on the continent, the u.s., in the u.k., and we could see a big, worldwide stimulus program that could push interest rates up -- maybe not permanently, but even thea period of time, and one group that benefits more than any others is the banks you were talking about a moment ago. they are the ones that really have the most torque or the most leverage to a p

larry summers spoke about why he doesn't think the banks are any safer. >> if you look at measures of the volatility of banks today is comparable to some measures a little more, some measures less, than it was prior to the financial crisis. and so if you believe in looking to market evidence, you don't see the kind of dramatic improvements that i think you would have expected. >> today is of course the eighth anniversary of the lehman collapse. and since the financial collapse, a lot has changed in the barricadnking sector. let's go to a man who never changes, dominic chu in the newsroom. >> melissa, it may seem like i never change, but we all have to evolve. since the financial crisis, the banks haven't been the same. there was a time when these banks were dividend-paying machines. you bought them because you wanted those quarterly checks. they still pay today, but not like they used to. according to s&p dow jones indices, the financial sector represented 30% of all dividend payments in the s&p 500. at the end of 2009, after the depths of the crisis, it was just 9% of dividend paymen

former treasury secretary larry summers has his doubts, as expressed in a paper and told to bloomberg secretary summers: we thought if the banks had become far less levered, as the regulatory community says they have, we betated to see beta -- see go down, and that is certainly not what we saw. that is why without reflection on what was going down with financial regulation was appropriate. david: back with us is alan greenspan, former federal reserve chairman. i want to put to you the question larry summers's address -- are we safer because of the regulations? chairman greenspan: no. in fact, i would say the opposite. i commented very early on, after the bill was passed that it cannot work, and -- in fact, the way i put it, it would cause as much problem as wage and price controls did back in the 1970's. i think it is pretty much on line, and the one area that i approve of is the significant increase in capital requirements. even had stopped there, or made the capital requirements higher, i think it would have been a very effective bill, but now it is a mess. it is very difficult to c

alarming warning on state of banks, larry summers say banks are more dearnlings today than they weren 2008. that is next. as iphone 7 hits store samsung galaxy is yanked off shelfs by government. consumers complaining of phones bursting into flames. back in a minute. everyone thought i was crazy to open a hotel here. everyone said it's so hard to be a musician, but i can't imagine doing anything else. now that the train makes it easier to get here, the neighborhood is really changing. i'm always hopping on the train, running all over portland. i have to go wherever the work is. trains with innovative siemens technology help keep cities moving, so neighborhoods and businesses can prosper. i can book 3 or 4 gigs on a good weekend. i'm booked solid for weeks. it takes ingenuity to make it in the big city. remember here at ally, nothing stops us from doing right by our customers. who's with me? i'm in. i'm in. i'm in. i'm in. ♪ ♪ one, two, - wait, wait. wait - where's tina? doing the hand thing? yep! we are all in for our customers. ally. do it right. we are all in for our customers. thw

larry summers is opining on that in the washington post. read, therning must problem.says "i wonder what credibility said forward guidance is likely to have even the utter disconnect between fed and market views regarding future rates and track records f the fed being wrong." we are joined by michelle meyer, head of u.s. economics. cheeks got a summit of here -- chiefs here. does the fed have a credibility problem? stanley fischer saying me might get two. the market and the data suggesting this is not going to happen. i don't know if it is a credibility problem but it is a communication challenge. is because just like participants and forecasters, they are responding to the flow of the data. withinve their forecasts their best case scenario and as the data comes in they have to tweak their assumptions as they look at the evolution of financial conditions. they change their trajectory for interest rate projections. part of the issue is their communication. they have the dots, they don't showing theare not risk profile, which is closer to what the market is saying. >> th

larry summers says we will go into a recession nearly immediately if we choose wrong car here. make the right choice. business leaders normally try to stay out of this, trying to be inclusive to shareholders, customers, but, i need to step up, as a leader, and say, what i think. julie: i know you speak to everyone. you have the biggest network and silicon valley. what have you been trying to encourage people to do behind-the-scenes? >> i've been trying to encourage them to determine where they can lead. rbc, the more power and resources you have, you can leave more. speak out about the things you think are most important. at the very least, inform the electorate. if we think this will be a complete disaster for business you want to be a voice for what is good for business, step of and say what that is. you don't have to engage in the vitriol that is so common from trump. say, here is what i think the right decisions are and what you should think about going to the polls. emily: you posted about the political process. when it comes to be an electrode process, what makes you most

david: larry summers is in japan. in a speech last night, he suggested the fed might consider buying equities. what is your sense of how good a policy that might be for central banks to pursue purchasing of equities going forward? >> aside from the merits of the policy, the federal reserve act i don't think allows the fed to buy equities. they would have to change the law. in general, i would say central banks have been reluctant to buy equities. the bank of japan is doing it in a very small measure. i don't think many others are doing it. i don't think it will be considered. vonnie: roberto perli, comebacks in. david: coming up, harvard is in someone whog has done it before for another ivy league institution. this is bloomberg. ♪ vonnie: this is bloomberg markets. i am vonnie quinn. david: deutsche bank shares are jumping the most in six months on a report the bank is nearing a $5.4 billion settlement with the u.s. justice department, less than half the amount initially requested. is a reporter. i want to ask about t

if you go back to chair yellen's after thatpal, meeting she was sounding a lot like larry summers, talking about demographics, low productivity, how the neutral rate has probably come down. there's a lot of distance between where we are now and the way it is. bloomberg'saes, executive editor of global economics, and binky chadha, chief global strategist at deutsche bank. matt: binky, your piece on productivity is coming out a week from tuesday. maybe we can get you back in here. binky chadha, thanks so much. dan, nejra and i back in two. ♪ for: another tough month volkswagen, still reeling from the fallout of its diesel in emissions scandal. the german automaker sales fell more than 9%. toyota also had a bumpy ride last month. u.s. sales fell 5%. analysts expected a drop of 4/10 of 1%. the big three automakers all missed sales estimates, as did nissan, ford, and gm sold fewer discounted models. buyers saw a rear decline in the month. -- rare decline in the month. up, donald trump seems to break down walls with mexico --, visiting the country's president but hours later calls for that count

tom: larry summers does the math for us. we need fiscal caution and prudence.d infrastructure, don't wait? ken ken: everyone has been saying we need to spend on infrastructure from back in 2009. the only qualification is you do need to pick projects that have a good return. sorts of political problems and restraints. our infrastructure spending has been so low, there are such projects. i would like to see some government agency curate infrastructure problems, at least give some opinions. tom: guy johnson, jump in here, speaking of the british. guy: the thing that strikes me about this conversation is how high we should shoot. i guess the rates of return argument, professor -- digitization changed the economy forever. ken: i do not think we should try to go to the moon again. it is not as easy as building infrastructure in an economy where you have to go through all sorts of legal stuff, right of way. we are not china. it is much more complicated to build infrastructure, but, yes, the u.k. needs another runway, etc. tom: very good. ken rogoff with us. the curse

then, larry summers, former u.s. treasury secretary -- not an advisor.equally say on the other side of the fence, harvard president. he will join us on his latest paper about stricter regulation. this is bloomberg. ♪ julie: welcome to "bloomberg markets." david: we are live in bloomberg's world headquarters in new york for the next hour, covering stories out of san francisco, washington and china. speechtrump delivers a outlining his economic vision saying he will create 25 million new jobs heard how realistic is that plan? reaction from both sides of the political aisle. ismp advisor wilbur ross here. we will also hear from democratic senator elizabeth warren. plus, oracle reports earnings after the bell. can the software giant make more progress in the cloud? markets close in two hours. stocks are hovering around session highs. close to the highs of the day, a pretty big move here. a bit of a risk only

of view, the fed is being really bullied by the market, by presidential candidate trump, and by larry summersmany, many different academics as well as business leaders, really bullying the fed on their credibility. this is a moment where they can -- i think they will put their line in the sand and get back some of the credibility. >> and you also make the point in that report that the fed has hiked pre-election in 2004, not an unprecedented -- would not be an unprecedented move to hike today. what do you anticipate the market's reaction if your prediction is correct when it comes to stocks, bonds and the dollar? >> i think immediately over the next couple of weeks we could lose 10 to 15% in equities. but what they're going to do is they're going to take a sledgehammer to the dots. so the dots are the future path of what they perceive as interest rate hikes. so if they do hike, which i think they will, they will lower the dots dramatically and i think that will over the next couple of weeks soften the blow of this hike. but the biggest thing is they're losing the window to hike the economic da

master gardener larry dawson will be here talk summer seeds. if you have a question for our master gardener, call us now at 319-399-5998. master gardener larry dawson i worked years to get my medicare committing medicare fraud... it made me so mad i wanted to give them the old one-two one, never give your medicare number to get a free offer or gift two, always check your medicare statements for errors these crooks think we're clueless, they don't have a clue it's your medicare, protect it see more ways to fight fraud at medicare.gov/fraud larry, call us now at 319- 399-5998. larry, we're getting to the end of summer, what should brought some flowers with you... and what seeds should be people be looking for at this we'll have one more check of your first alert forecast, coming up next. stay with your 24 hour news source, clayton ridge school crash happened around four yesterday afternoon between guttenberg and garnavillo the iowa state patrol says ronald kephart hit the bus as it was turning. he died in the crash. tropical storm hermine made lan

treasury secretary larry summers.ument and a lot think it is ridiculous that you need to hike a note to cut later down the road. his point is to get hiking now, you have to do everything you cannot to make it happen because you want to address it. is that embedded on the fed? david l.: the fed is of the view if you are flying the airplane that 10,000 feet rather than 30,000 feet, it makes it easier to crash and the reason they are cautious if they understand with growth so low and productivity lackluster, a 25 basis point increase can have a larger effect then it saying we are broke growing up 3% to 4%. i think a 25 basis point is fine for the economy and if the hike in december, it will not derail things. i agree that the cautious approach is required because the economy does look weaker than it has. david: that is one way to look at it. y at sign ate 10,000 feet. is there another alternative that they're not so sure of their models now? it did not happen and is and that more troubling it there not sure their models?

calling larry summers the banking guru -- he was right at the beginning of the last fiasco.ext up, jeff in baltimore, maryland. in the banking industry. good morning. go ahead. caller: couple of quick points. first, great show. while this was happening at wells fargo in the retail space, i will stress that it probably is happening on different levels. i started in the retail world. right now, working in the small corporate world. this is across the board. ,ou can see it more in retail but you can find us on different levels within the banks. there are still banks out there that care about relationships. about -- find a bank that drives on relationships. this is 100% driven by these regulations that came down the pipe in 2008. you look at liquidity premiums, the capital requirements, the rule, dodd-- volcker frank. there need to be regulators focused on making banks safer. host: larry in virginia. a wells fargo customer. how are you? one of the things i want to have ao note here, we home project credit card they give out, which is a subsidiary of contractors that wells fargo

larry summers i'm sure you read his peace said to her surprise capital information is inconsistent with the view that banks are far safer today than they were before the crisis and some support for the notion that risks have actually increased i disagree significantly with that conclusion. it is based on the notion that l they properly evaluated the risks i'll give you one quote. james madison that laws could not be read. or so incoherent that they cannot be understood. 33,000 new regulatory restrictions. and you can't tell me with all of that rule and regulation that you haven't eradicated the threat of too big to fail. >> the chair now recognizes the chair for massachusetts. >> i just want to clarify atacht few things. i'm not aware of anyone whoor doesn't want to amend dodd frank. i just don't want to got it. good amendments totally against getting it. that's pretty much the only bills. gentleman y too big to fail. i agree we should do more on it. that's why i offered the bill to bring back that. that's why i offered hr 888 that the community bank supports. all my colleagues are welc

but you talk to almost anybody, seriously, you can talk to larry summers.to cut corporate tax rates, and by the way, it's for large and small companies. that's the key point there. and i think you would reignite a tremendous economic boom. >> we haven't had growth in 15 years. >> important context, the top tax rate for kennedy was 91%. in terms of deciding who is the supply side or not, you characterize donald trump as a supply sider, just yes or no? >> he's got a supply side tax cut program. >> are you worried -- >> very much jfk/reagan tradition. >> you're a deficit hawk. are you worried about the fact there's a huge tax cut on one hand and on the same hand, he wants a massive infrastructure deal. he wants to get rid of the sequestration of the military, he has said he doesn't want to touch entitlement programs like social security and medicare. are you worried there's no way to get this math to actually work? >> well, actually, by the way, i'm really not a deficit hawk. i'm a growth guy. i have always been a growth guy. so the answer to your question is,

summer weather. >> thank you. >> larry beil joins us now with sports. >> a huge series for giants and rough night forchicago. giants and cubs opening a series. sports is coming up next. ♪ ♪ ♪ isaac hou has mastered gravity defying moves to amaze his audience. great show. here you go. now he's added a new routine. making depositing a check seem so effortless. easy to use chase technology for whatever you're trying to master. isaac, are you ready? yeah. chase. so you can. >>> giants have been facing the best team in all of baseball, the cubs in chicago. tonight, a little bit of orange in the stands at wrigley field. here it comes. there it goes. crushed off mike montgomery. 2-0 giants. and then, chris coglin with a double down the line. third inning, brandon crawford and buster posy scores. giants taking a lead and that is where we are now. and they're in the sixth inning. friday night against kansas state. they figured a run in early and often z late and often. before we look ahead, you have the opener. stanford lost to northwestern, on the road 16-6 and that cost them a shot at the college football p

summer weather. >> thank you. >> larry beil joins us now with sports. >> a huge series for giants and rough night forhers in chicago. giants and cubs opening a series. sports is coming up next. sfx: "gulp" what are you doing? sfx: "burp" i'm having a small snack. gross. don't live with ants. get raid ant & roach spray. raid??? raid kills bugs dead. sc johnson >>> giants have been facing the best team in all of baseball, the cubs in chicago. tonight, a little bit of orange in the stands at wrigley field. here it comes. there it goes. crushed off mike montgomery. 2-0, giants. and then, chris coglin with a double down the line. third inning, brandon crawford and buster posy scores. giants taking a lead and that is where we are now. and they're in the sixth inning. friday night against kansas state. they figured a run in early and often z late and often. before we look ahead, you have the opener. stanford lost to northwestern, on the road 16-6 and that cost them a shot at the college football playoffs. >> you know we're more focused on saying what we've practiced and upping the ante a little bit. and the

. >>> summer in september. >> larry is here for a preview of sport. >> you showed kaepernick and thee national app them. question now is how did he play? actually surprisingly well. we also get to the giants opening a crucial series in chicago done in by former oakland a. late inning collapse by the oakland a. late inning collapse by the giants bullpen >>> good evening after all the controversy over kaepernick and national anthem yes there was a football game to play. final pre-season game and cay gr the 49ers tonight in san diego. threw the ball well and ran effectively against the chargers. as expected we showed enthusiastic earlier. cap taking a knee during the anthem teammate reid joining him. that's new. solid on the first drive. 4 of 5. mobile in the pocket. escaping to the left. runs for 20 yards. 4 care for 38 yards total. cap would lead 16 play 85 yard drive. cap from a yard out. 6 nothing niners and 2 point conversion fail. 103 yards almost picked off right there. niners settle for a dawson field goal and led at the half. driscoll played the third quarter. disaster. first 2

remember this song from the summer announcer now, "good morning washington," on your side. larry: flame spread quickly through a d.c. restaurant. the lucky coincidence that sent fire crews rushing to the scene. tree in the road and problems for your commute right now. larry: tropical storm hermine changing track and strengthening fast, bad news for people in florida. and the good news in the last hour for your holiday weekend forecast. there you go. give youup, and we good news. 6:00. glad you were with us. i am larry smith. autria: i am autria godfrey. haven't we been talking all morning long about what a picture-perfect weekend it is going to be? veronica: yes, we have. the track changed yesterday, late in the afternoon, and it is now more toward the east.

it's the title of the newest book about the team from the cards team writer, kent summers, rich and unique history from larry wilson to larry fitzgerald. >>> your exclusive accuweather forecast with dave munsey on fox 10 news. take a look here. 89 degrees. the winds dying down, west southwest now at about eight miles an hour. and as we look at some of these numbers, 86 degrees at deer valley, 86 in surprise, 88 in mesa, 84 at apache junction. still some moisture out there. you can kind of see that stuff working the east side more than anything. as we go down to the city here and get you a look at phoenix, little something out here off to take a look at the tuscon area, and that was really, well, you can see really full of moisture earlier. but that stuff is drying up, leaving the state. we continue to move up that east side, because that's where everything is, and that's where it's headed out of here from. in fact, we'll show you here. up north, this stuff was really heavy earlier. not much going on now. but as we back off and take a look at the entire state, not much happening on the west. a little somethin

it's the title of the newest book about the team from the cards team writer, kent summers, rich and unique history from larry wilson to larry fitzgerald. plus, the cards back to the practice field you'll hear from coach arians in 30 minutesment we got married in june... ...on tunaday. there's a subway? $3.50 sub of the day to help you remember life's important days. every day a different six-inch sub for just $3.50 at subway? every day of the week. her name is teri... ...she was born on >>> your exclusive accuweather forecast with dave munsey on fox 10 news. >>> hi, everybody. take a look here. 89 degrees. the winds dying down, west southwest now at about eight miles an hour. and as we look at some of these numbers, 86 degrees at deer valley, 86 in surprise, 88 in still some moisture out there. you can kind of see that stuff working the east side more than anything. as we go down to the city here and get you a look at phoenix, little something out here off to the east of us as we go down and take a look at the tuscon area, and that was really, well, you can see really full of moisture earlier. but that stuff

to be one of the two teams out of 30 to be able to represent the larry o'brien trophy as of the new honor and cherish. there is no summer. there was no summer for me. >> and the annual wine and gold scrimmage is sunday afternoon at the q. the first preseason gameme is a that's oktoberfest against the magic. and possibly jr smith will be signed by then. we will keep you posted. back to you. >> calm in the streets of charlotte after days of protesting. >> authorities now releasing body camera video, showing what happened leading up to the deadly police involved shooting. why some are calling for the chief to resign. >> arguably one of the most important and anticipated in history. why both campaigns are saying they are ready, ahead of tonight's showdown. >> plus, the sports world is mourning. how family, friends and fans are i'm really good at war. i love war in a certain way. including with nukes, yes including with nukes. i know more about isis than the generals do, believe me. nuclear, just the power the devastation, is very important to me. sfx: door rattles.glass shatters she'll call nine one one. average response ti

governor larry hogan saying yesterday that if they extend the summer, that they are looking at the state getting more than $70 million in additional money through economic opportunities. thinking about places like ocean city and parents and families spending more time there. it's a debate that we expect to continue for some time in the state of maryland. some school systems may apply for special waivers, giving them an opportunity to start the school year a little earlier, but they are going to have to have some really good reasons for tha >>> falling debris shut down a metro station. up next, a live report on what happened and what you should expect when you head out. >>> you might be waking up to some wet roads. chuck is coming back with a look at how much rain we may see aroundhere, today an d it only takes a second for an everyday item to become dangerous. always keep laundry pacs away from children. keep them up, keep them closed, keep them safe. tide pods now come in a child guard zip pack. to help keep your laundry pacs safe and your child safer. align, press and unzip. >>> good m

i asked the beat writer for the writers, kent summers renly on the history of the cardinals. his take, could this be larry fitzgerald's last season? >> he plays all this to the vest. he will never share very much. he is an inform gatherer. he done share his information with anybody. so all of these reports that he is telling people close to him that i'm going retire or saying i'm definitely going to play in 17, i don't put a lot of stock into it i think it all depends how this year goes. >> more on kent's book coming up at 6:00 and on news now. we want to remind you, mark this 9:00 a.m., fox nfl sunday. and then following the kickoff right after the game, "fox 10 news" post game coverage and that includes bruce arians at the podium, our special analyst max starks, inside analysis richard saenz, live from the university of phoenix stadium. stay with us through after the game with the best post game coverage as the cardinals try to get on track against dirk cutter's tampa bay buccaneers. there is an injury to starting right guard evan mathis. how long will he be out cardinals. we will get into that story wh

governor larry hogan saying yesterday that if they extend the summer, that they're looking at the state getting more than through economic opportunities. thinking about places like ocean city and parents and families spending more time there. it's a debate that we expect to continue for some time in the state of maryland. some school systems may apply for special waivers, giving them an opportunity to start the school year a little earlier, but they're going to have to have some really good reasons for that. i'm tracee wilkins, news4. >>> starting today the loudoun county sheriff's office will enforce changes to the county's noise regulations. the new rules include music not being heard beyond 100 feet from the source between the hours of 11:00 and 7:00 a.m. and a horn cannot be sounded more than 20 consecutive seconds except as a danger warning. violations range from a class 3 misdemeanor all the way up to 12 months in jail and a $2500 fine so bow careful with that. >>> a restaurant in d.c.'s city center was just slapped with a lawsuit. a district couple say outbreak last year at fig &

summer long. good evening and thank you for joining us. i'm ama daetz. >> and i'm larry beil in for dan ashley. san jose police arrested the gunman opening fire at occupied vehicle. >> ama: let's get to katie who is live in san jose with the breaking details. katie? >> reporter: ama and larry, people who drive in this area on blossom hill road can maybe breathe easier tonight. since may someone has been shooting at people in cars here. it happened at least 10 times. tonight a suspect is in custody. the san jose police department's covert response unit arrested this man. 30-year-old michael lewis of san jose. he will be booked on four counts of attempted murder. police actually arrested lewis on august 14th on unrelated charges as they were investigating these shootings. as they followed up they got a warrant and searched his house. there they say they found a handgun. they sent that gun and shell casings recovered from some of the shootings to the crime lab. there it was determined that the bullets were fired from the gun found at lewis' house in four of the incidents. the shootings happened be

summer long. good evening and thank you for joining us. i'm ama daetz. >> and i'm larry beil in for dan ashley. san jose police arrested the gunman opening fire at occupied vehicle. >> ama: let's get to katie who is live in san jose with the breaking details. katie? >> reporter: ama and larry, people who drive in this area on blossom hill road can maybe breathe easier tonight. since may someone has been shooting at people in cars here. it happened at least 10 times. tonight a suspect is in custody. the san jose police department's covert response unit arrested this man. 30-year-old michael lewis of san jose. he will be booked on four counts of attempted murder. police actually arrested lewis on august 14th on unrelated charges as they were investigating these shootings. as they followed up they got a warrant and searched his house. there they say they found a handgun. they sent that gun and shell casings recovered from some of the shootings to the crime lab. there it was determined that the bullets were fired from the gun found at lewis' house in four of the incidents. the shootings happened be

larry's villa 4-hundred and 90 times. there have been a number of violent crimes in and around the business...including a murder this summer. and now, the strip club and bar is closing up after 44-years in town. david schuman "business owners nearby tell me there have been a lot of rumors going around as to what might come in to replace larry's villa. a possibility that's getting a lot of traction is bringing in side of things. near bonanza and rancho..david schuman..13 action news." recent mass shootings.. terror attacks and talk about tighter gun control have led to a spike in gun sales. but.. according to a new study by researchers at harvard and northeastern university.. half of all guns in the u-s are owned by only 3% of the population. the study estimates 7.7 million people own.. on average.. 17 guns each.. while half of the nation's 55- million gun owners only own 1 or 2 guns. two-thirds of gun owners say the main reason they own a ad libs adlib let's go to chief meteorologist bryan scofield and '13 first alert winds will stay breezy overnight as we keep a sustained wind near 10 mph around and gusts up to 20 mph pos

larry tribe or mario cuomo? scalia answered ruth bader ginsburg. [laughter] in the summer of 1999, i was hospitalized at beginning of my long bout with cancer. justice scalia recommended that i follow him as a teacher. the first outside call i received was from justice scalia. ruth, i'm responsible for your days in crete. you must get well. is there anything i can do to help? justice scalia was a man of many talents. jurist of captivating brilliance. a rare talent for making even the most somber judge smile. the press wrote of his energetic fervent, peppery pros, affability. not so well known, he was a discerning shopper. we were in india together for a judicial exchange, on a day off, our driver took us to his friends shop. one rug after a rug was tossed onto the floor leaving me without a clue which to choose. justice scalia pointed to one and he thought his wife would like it for their beach house. i picked the same design in a different color. worn very well. some ask how we could be friends given our disagreement on lots of things. he answered i attack ideas. i don't

larry: let's get "in the now." kidd: you guys remember this song from the summer of 2013. one of the biggest hits that summer. more than 200 musicians are now supporting pharrell williams, robin thicke, and ti in their appeal in the ongoing legal dispute over blurred lines. those to express concern about the ruling last year brought by the children of marvin gaye's family on copyright breach. that it has been a -- marvin gaye's family one a $7.4 million verdict, which a judge reduced to $5.3 million. kind of a big deal and we have talked a lot about this on "good morning washington." there are only so many notes and so many ways you can perform a song. if we start going down this road, you're saying just because i played the guitar that way, it was copying your song? i think they have a case here, hopefully. other songs some more similar to other songs than that sounds. can say, yeah, you borrowed a little bit of that one. kidd: they are serious about that. coming up after 6:00, -- after 7:00 when we move over to newschannel 8, how much do you think you would get paid to be a live-in housekeeper at buckingham

summer. joining me right now is robert reich, and larry ckudlow, and te author of a new book, "jfk and the reaganto talk to you about optimism. can we have a 4% growth rate? my god, that would create so much economic activity in the country above the average. lawrence, do you believe that? >> absolutely. i'm one of the lesser economists in the trmp group that pushed for 4 to 5% economic growth. i'm a jfk tax cutter, a ronald reagan tax cutter. that's what our book is about. those guys had 4 to 5% growth. when bill clinton finally settled in and cup the cap gains tax and had some free trade, he got himself 4 to 5% growth. be the right policy, it can absolutely be done. and last thought, trump is focusing on a massive business tax cut, which you correctly described. i think that's exactly where he should go. that will pick up jobs and wages and productivity and business investment, all of which, by the way, are slumping. >> robert, let me ask you, first of all, when jack kennedy was president, he went into office and left office with about a 90% personal income tax rate. and he wanted to bring it d