now they are a wholly subsidiary of a company in bermuda, lazard limited. $9 million went there. that is the whole point. >> let him finish. >> that's the whole point of having a company in bermuda. you can send the money there. evidently, it tended to be confusing. middle-class americans end up in the tax bill. we have a fundamental difference in the way we think the economy should work. it should work from the middle out. he took a shot at a parent company that he owns stock in. your mutual fund was called the socially responsible fund. >> i know that. get to the point of tax inversions and the loss of 400 jobs. did you have something to do with it? >> the firm i had had nothing to do with it. >> your company made $10 million on an inversion deal that sent a u.s. pharmaceutical company to ireland. isn't that fair for you to be questioned about it and be held accountable? >> that his family false. we represented the company that did the inversion. we had no operational control. >> you told "the associated press" that you did not even know that inversion was part of the deal. >>

independent investment bank lazard beat. and credit suisse. shares down three quarters of one percent. >> murph. kkr, you have picked it in the past. >> i actually still it own it in my playbook. and look at this quarter, you are not going to get blowout earnings from these private equity firmts but they have a lot of ton of cash. so i want to own this for the dividend. and hopefully i'm getting those dividends piling up in the playbook. >> nur second place in the playoffs. >> for now yes. >> are your sights on first place. >> i'm coming after joey t. >> all right. times an earnings checkup. 69% above expectations. and 10% have met and 21 missed. joining us now isse esses eis. >> bank, financials up about 8% year over year and that's one area we weren't expecting to do as well but they surprised a bit. end to settlement fees. >> final. >> finally. you are seeing mortgage originations although down year over year quarter over quarter doing much better. we saw it from wells fargo which is a proxy of u.s. housing is the biggest lending. lending u

>> tango and femme lazard red dresses. >> tango. >> i have to tell you, the pace is a little slow. >>s? >> i don't know if they have a name. >> make one up. >> plastic things. >> how about a tabula? >> what? >> tabula. part tab. part ula. are those leather? what's happening there? i think i get it. the laundry comes in, people scramble and the laundry becomes clean. >> endless until the end of the night. >> i got it. >> upstairs the spectacle continues. sets, lights, and human beings fly through the air without crashing into each other. performers exit through the liquid stage floor without drowning. and when this show is done they'll do it all again at 9:30. it's all a credit to dale hurt. the undisputed king of the techies. a guy lucky enough to really love what he does. but downstairs an even more amazing phenomenon is taking place. i am happily shooting the breeze with my new best friend, richard the pr guy. >> how do you have 13 unopened text messages? that would drive me crazy. >> here. let me show you this. >> oh, my god. >> 4,441. >> 74 missed calls. >> 74 missed calls. 4,400

i think people haven't realized how important the investment management business has become at lazardelping to differentiate themselves from competito competitors. >> we've looked at consumer products companies have have struggled thorpg. namely coca-cola and mcdonald's. you have one that you think is a good buy. and that's smuckers. >> it's so much fun to go to orville, ohio, and meet with the smuckers brothers. a well managed companies. but they don't do just jellies and jams now. they have jif peanut butter, folger's coffee. a lot of its peers are selling in the s&p 500. >> are you worried about higher prices or anything like that? maybe the health of the american consumer. >> i think the consumer is going to be fine. i think as the economy recovers, people will be spending more in supermarkets. i think the only thing is coffee can be volatile. it's a commodity at essence. that does have some quarter by quarter volatility because of that. but it's so well managed, so well diversified, we think it's going to be able to please the consumer for the long run. >> this is a play you have

. >> what i would encourage you to do is call lazard on monday and asked them if we were involved., we sellhat i businesses. >> you also talked about your restructuring prowess on your website. >> this was a transaction that the business that i run did not touch. what al franken has said in that ad was that i was the ceo. that was bruce wasserstein. he was a big donor to your campaign. he says you're not telling the truth, senator franken. 400 people lost their jobs. >> you asked these unemployed >> please let me answer this. this is an ad about a plant in montana that closed, and it closed because of a deal that mr. mcfadden's company was advising on restructuring. can i answer? >> go ahead, senator. >> mr. mcfadden's firm, during this entire campaign, advertised that it did the restructuring for smurfit. that's a company that laid off these 400 people, some that had worked there for 20 years. they had it on their website until the day we ran the ad. that seems pretty incriminating. >> this would be like me blaming you for something that general electric did when you were on satur

there might be a role for lazard come there.f a whole string back and how is that a be fixed today >> : i heard is questionable why not make it for the rest of the games. >> : that's the end of it when i went to sleep last night heard him say that when the winds come the should be ok >> : but restaurant news this morning >> : that's what i guess maybe the worst case scenario. be sure look good and happy for >> : close out my twitter account >> : at on to a gut tell you what i'm not and do. shutting down my homemade had rallies on and you know how i like to think about wade about a giants rally thoughts straight >> : heat of the what had the late kansas city 3 >> : that's embarrassing. they busted her homeland security when and rated this lady is on a worse store because she even dry casey cut enacted copyright infringement have it connected >> : to the young woman who owns the store and selling leaves a rally for its kansas city >> : where they selling the asher not after the date: security is as what they do. next to the pictur