leslie james pickering is a former spokes person for the us liberation front. back in the day, they did a lot of sabotage. and this is leslie explaining what the purpose is. what happens when you'll successfully completing a sabotage, sabotage, emission, have a nice that creates a scenario where there is no consequence for bad behavior in a society where there is no consequence for bad behavior. a corporation can go and cut down a forest and, and pollute and what have you in at the worst. and they get a find that they have no problem paying. and they just go on business as usual. but after the reparation front step on the scene and you know, they have to stop and think about is what i'm doing. going to upset these environmental is so much that i'm going to be the next target of a large scale. are some attack? well, my company is burned down and if they are the target of that kind of thing, well, that's going to cost them some, several things. it's cost of some money and some time and some anguish and hopefully caused them to hear, you know, for you think what, w

we're going to talk to james gorman leslie picker has an interview with him this hour here's what he'serall environment. >> we are and have been dealing with a number of uncertainties including but not limited to the results, business environment, bassle incoming proposals and other pending matters. i committed to the board that our lead on those issues and when i do transition out of the ceo role i will remain as executive chairman for a period of time. we are fortunate indeed to have three very strong internal candidates that board continues to evaluate along the processes, for their readiness to step up as the next ceo of morgan stanley. >> so a lot more going on there. >> yeah. he's talking more there about succession, which we know, and they've set it up they have three candidates internally. you wonder how that impacts the organization when you have three vying camps for the top job knowing that potentially two o those people will ultimately leave if they don't get it he also had only, you know, more or less positive things to say to the extent they commented on it in terms of th

>> and james gorman on the call or the interview he did with leslie picker, always quite positive youly had a positive tone from the big banks, whether it's on the consumer and what they're seeing or whether it even is on the capital markets and what they hope certainly is a bottoming there in terms of both activity and m&a and things of that nature that can help them on the fee-based side >> and then we still have the tremendous travel and leisure story. now, people didn't like america as much, but delta was really good united was really good there's enough to make it so that the fed has to continue to do what it does, which is make things a little more difficult for the economy. not a lot, but a little. >> i did want to point out, you heard jon gray, president of blackstone, they passed a trillion dollars under his management >> congratulations >> the size of these alternative asset managers and the growth that they have had in assets under management over the last, let's call it five years, truly astounding and they are such major players in our capital markets in every way across

leslie picker. >> the banks, the kre on pace for what would be its best week since january 2021 joining us raymond jamesavid long given the numbers we've seen, let me ask you what leslie just raised, is it an all-clear sign for investors when it comes to regionals? >> look, i believe the all clear from a failure perspective, we're getting close to that. when you look at the banks that failed, you were able top analyze them six to nine months ago and say that they had holes in their assets that were underwater that would eliminate their capital if they had to mark all their assets to assets. we've been through 130 banks in the raymond james franchise and several other larger banks and we don't get to that conclusion with any other banks if you mark all of their assets to market. they still have capital. i think we're clear there, but i'm not going to bet the house on it. >> what about the larger issue, the earnings power of many of these banks, given facing higher deposit costs, the risk of deposit flight what have we learned from what we've seen from the quarterly numbers in terms of answering that ques