minutes away from lloyd blankfein on cnbc but first what's coming up on closing bell. >> at the top of the hour, could president obama's state of the union spark the next leg of this round? we have both sides of that debate coming up. >>> also the fast-food wars perking up, burger king rolls out a new coffee men ux. find out which stock may be able to brew up profits for your portfolio. twitter and american express are allowing a buy with a special hashtag. is it worth the privacy you give up by tweeting your purchase? we look forward to seeing you at the top of the hour. could have a fooef year high, if all pieces fall into place. coming up after sunshine and "s after the break. stay tuned. [ male announcer ] you are a business pro. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro.

lloyd blankfein could be there for ten years. don't think gary cohn wants to be there as number two for ten years. here is what we know, the fox business network has learned, cohn has told people he does not know if he wants to wait years to take the job. which means he can leave in a fairly reasonable amount of time. i can't tell you when, but my guess is and guesses i hear from a lot of people inside the place this guy gives it a couple more years, three years, in the number two spot if lloyd doesn't leave or split the job of chairman and ceo which is always a possibility. then he goes out on his own. what is interesting, yes, they have been making the rounds lately. they're trying to show, you know, a, a sort of, put a good face on what is beginning to be, not just beginning but continuing a lot of tension in the top suite between lloyd and gary, lloyd blankfein and gary cohn, number one and number two, as to getting a top job. they sound good on tv. behind the scenes, there is starting to be a lot of i would say bitterness be

horror a banker have been captured in the wild by the bonsai institute and here this is the lloyd horror frog blankfein and this is horror frog ben bernanke. are. the. yes i saw that fact on twitter by fax that this horror frog exists and i thought it was a good analogy for the global financial markets and central banking monetary policy is there literally ripping their limbs off an order to defend themselves even if what they're defending themselves from is kind of fictional the currency war isn't there it's a race to the bottom they're all trying to deep bass simultaneously it's a suicide banker they have suicide bombers and we have to some bankers and they basically have cut from the same horror cloth so here's the headline regarding this horror frog ben bernanke bernanke you seen buying one point one four trillion in assets and twenty fourteen federal reserve chairman ben s. bernanke these latest round of bond buying will reach one point one four trillion dollars before he ends the program in the first quarter of two thousand and fourteen according to median estimates in a bloomberg survey of econo

horror banker have been captured in the wild by the bonsai institute and here this is the lloyd horror frog blankfein and this is horror frog ben bernanke you. are. though or. yes i saw that fact on twitter but we were facts that this horror frog exists and i thought it was a good analogy for the global financial markets and central banking monetary policy is there literally ripping their limbs off an order to defend themselves even if what they're defending themselves from is kind of fictional was the currency war isn't there it's a race to the bottom they're all trying to deep bass simultaneously it's a suicide banker you have suicide bombers and we have two sons bankers and they basically have cut from the same horror cloth so here's the headline regarding this horror frog ben bernanke bernanke you seen buying one point one four trillion in assets and twenty fourteen federal reserve chairman ben s. bernanke these latest round of bond buying will reach one point one four trillion dollars before he ends the program in the first quarter of two thousand and fourteen according to median estimates in a

>> narrator: in april 2010, goldman sachs ceo lloyd blankfein was summoned to the hill by senator carllevin. >> if martha stewart can go to jail, so can blankfein! >> narrator: this would be the biggest showdown between congress and a major wall street banker. >> narrator: blankfein was unapologetic. >> clients know our activities and they understand what market making is. >> do you thing they know that you think something is a piece of crap when you sell it to them and then bet against it? you think they know that? >> the nature of the principal business and market making... >> lloyd blankfein argued it was perfectly okay, that at the same time we were selling securities to you, we were betting on the fact these securities were going to go down. "but that's okay 'cause we're a market-maker and we're allowed to do that." that sounds like fraud to me. in the first half of 2007, goldman sachs sold long-position cdos to its clients, right? >> we sold... we reduced our risk. >> so you were selling cdos at the same time you were taking short positions on the same cdos? >> the best way of re

lloyd. blankfein they think that these horror frogs deserve the money so however speaking of horror frogs let's move on to france france totally bankrupt says labor minister michel sat down france's labor minister sent the country into a state of shock on monday after he described the nation as totally bankrupt and this is covered of course now he said the state is banker out as a normal this is what happens when we can it's impossible sit in pa see him in france to help anybody this is a common refrain anyway but it sent everybody into a frenzy apparently the french population was shocked to have to be told this but but then the finance minister responded and said france is a really solvent country france is a really credible country france is a country that is starting to recover but he's the salvador dali or my great of economic policy makers basically he's saying soon they beep. you know he's saying that yes the economy is bankrupt but it doesn't much care why they're concerned with whether the economy is bankrupt or not bankrupt it's not about having an accounting of the economy with input

still bearded lloyd blankfein, by the way, introducing tim cook moments ago.th bill showed he's the goldman analyst up on the stage with tim cook, as we mentioned throughout the morning, it's a fireside chat, where he'll be asked a number of questions which will probably last about an hour. you know he'll get questions regarding what apple is going to do with its 130-plus billion dollars in cash. you have to wonder whether he'll be asked directly, and i assume he would be asked directly about what david einhorn wants apple to do with the cash related to the stock, that they're sitting on, which is nothing short, as i said, of enormous, one-third of the market cap is sitting in cash. will he say anything about what's coming down the pipeline in terms of new products? maybe not. but he could drop some hints. he did mention television a few years ago here. so certainly we'll be keyed in to find out, or listen to anything that he says about any products coming down the pipeline. risk wat wristwatch, iphone, we'll be keyed in there. >> first headlines are coming in

lloyd. blankfein they think that these horror frogs deserve the money so however speaking of horror frogs let's move on to france france totally bankrupt says labor minister michel sat down france's labor minister sent the country into a state of shock on monday after he described the nation as totally bankrupt and this is covered of course now he said the status bank route as a normal this is what happens we it's impossible system pa seem in france to help anybody this is a common refrain anyway but it sent everybody into a frenzy apparently the french population was shocked to have to be told this but then the finance minister responded and said france is a really solvent country france is a really credible country france is a country that is starting to recover but he's the salvador dali or my greet of economic policy makers basically he's saying soon a beep. you know he's saying that yes the economy is bankrupt but it doesn't much care why they're concerned with whether the economy is bankrupt or not bankrupt it's not about having an accounting of that economy with inputs and outputs and a

horror a banker had been captured in the wild by the bonsai institute and here this is the lloyd horror frog blankfein and this is horror frog ben bernanke. yes i saw that fact on twitter fax that this horror frog exists and i thought it was a good analogy for the global financial markets and central banking monetary policy is they're literally ripping their limbs off an order to defend themselves even if what they're defending themselves from is kind of fictional the currency war isn't there it's a race to the bottom they're all trying to base simultaneously it's a suicide banker you have suicide bombers and we have to some bankers and they basically have cut from the same horror cloth so here's the headline regarding this horror frog ben bernanke bernanke you seen buying one point one four trillion in assets and twenty fourteen federal reserve chairman ben s. bernanke these latest round of bond buying will reach one point one four trillion dollars before he ends the program in the first quarter of two thousand and fourteen according to median estimates in a bloomberg survey of economists well he thi

horror a banker had been captured in the wild by the bonds i institute and here this is the lloyd horror frog blankfein and this is horror frog ben bernanke. are. the. yes i saw that fact on twitter by fax that this horror frog exists and i thought it was a good analogy for the global financial markets and central banking monetary policy is there literally ripping their limbs off an order to defend themselves even if what they're defending themselves from is kind of fictional the currency war isn't there it's a race to the bottom they're all trying to deep base simultaneously it's a suicide banker you have suicide bombers and we have to some bankers and they basically have cut from the same horror cloth so here's the headline regarding this horror frog ben bernanke bernanke you seen buying one point one four trillion in assets and twenty fourteen federal reserve chairman ben s. bernanke these latest round of bond buying will reach one point one four trillion dollars before he ends the program in the first quarter of two thousand and fourteen according to median estimates in a bloomberg survey of econom

horror a banker have been captured in the wild by the bonzai institute and here this is the lloyd horror frog blankfein and this is horror frog ben bernanke you. are. the. yes i sold that fact on twitter but facts that this horror frog exists and i thought it was a good analogy for the global financial markets and central banking monetary policy is there literally ripping their limbs off an order to defend themselves even if what they're defending themselves from is kind of fictional the currency war isn't there it's a race to the bottom they're all trying to deep bass simultaneously it's a suicide banker you have suicide bombers and we have to some bankers and they basically have cut from the same horror cloth so here's the headline regarding this horror frog ben bernanke bernanke you seen buying one point one four trillion in assets and twenty fourteen federal reserve chairman ben s. bernanke these latest round of bond buying will reach one point one four trillion dollars before he ends the program in the first quarter of two thousand and fourteen according to median estimates in a bloomberg survey o

missing this jury if this is the jury of their peers this is the population that gary gensler and lloyd blankfein and jamie diamond and stephen hester and this is and george osborne this is the population a creative cretins this is the jury system they should put this guy gary gensler in front of this jury of cretins and add them. judgment upon his head and then show smite him well ok so see f.t.c. also failed to identify any sign of any crime and that's global when john kors line reached into client funds took it and gave it to j.p. morgan he was unable to find any sort of evidence of a crime there this is an idiocracy this is where people don't know remember in the future in this film that the population of america didn't know that you had to water plants and the other think about honor i'm you know why is the judge casting aspersions toward these idiot jurists doesn't he understand the state of the society that we're in today the judge needs to recuse himself for having a grant of the sixth grade education we need stupider judges to handle super jurists to go after stupid bankers to make stupi

the whole mafia in new york for the same reason that you never get the top guy the jamie dimon lloyd blankfein saying commit the fraud betty so you've got to infiltrate the organization why don't you send one of these you know banks to loving d.o.j. guys to pose as a bank so they already look like one go in there and pretend to be a banker and get them all committing the crimes well they're all invested in fraud but this reminds me of the frank quattrone defense if you remember at credit suisse he was caught doing laddering in the i.p.o. market committing fraud and the jury said well you're crimes are too complicated so we're going to let you get a walk so the lesson is if you're going to be a criminal make sure your crimes are too complicated for the average drug addled moron jury in america to understand if you just omit don't it you know you'll get free and say it's too complicated the crimes are complicated you can understand it have another have another sedative and now finally along this you know why it's important to prosecute these guys how apples fall hit bondholders to imagine your b

the whole mafia in new york for the same reason that you never get the top guy the jamie dimon lloyd blankfein saying commit the fraud so you've got to infiltrate the organization why don't you send one of these you know banks to loving d.o.j. guys to pose as a bank so they already look like one go in there and pretend to be a banker and get them all committing the crimes well they're all invested in fraud but this reminds me of the frank quattrone defense if you remember at credit suisse he was caught doing laddering in the i.p.o. market committing fraud and the jury said well you're crimes are too complicated so we're going to let you get a walk so the lesson is if you're going to be a criminal make sure your crimes are too complicated for the average drug addled moron jury in america to understand if you just omit don't it you know get free and say it's too complicated the crimes are complicated you can understand it have another have another side of it and now finally along this you know why it's important to prosecute these guys how apples fall hit bondholders to imagine your broker says

missing this jury if this is the jury of their peers this is the population that gary gensler and lloyd blankfein and jamie diamond and stephen hester and this is and george osborne this is the population a creative cretins this is the jury system they should put this guy gary gensler in front of this jury of cretins and add them. judgment upon his head and they show smite him well ok so see if the see also failed to identify any sign of any crime and that's global when john corps sign reached into client funds took it and gave it to j.p. morgan he was unable to find any sort of evidence of a crime there this is an idiocracy this is where people don't know remember in the future in this film that the didn't know that you had to water plants another think about honor i'm a mom you know why is the judge casting aspersions toward these jurists doesn't he understand the state of the society that we're in today the judge needs to recuse himself for having a grant of the sixth grade education we need stupid our judges to handle super tourists to go after stupid bankers to mimic stupid crimes right on n

missing this jury this is the jury of their peers this is the population that gary gensler and lloyd blankfein and jamie diamond and stephen hester and this is and george osborne this is the population they've created of cretins this is the jury system they should put this guy gary gensler in front of this jury of cretins and add them. judgment upon his head and they show some like him well ok so see if to see also fail to identify any sign of any crime and that's global when john corey's line reached into client funds took it and gave it to j.p. morgan he was unable to find any sort of evidence of a crime there this is an idiocracy this is where people don't know remember in the future in this film that the population of america didn't know that you had to water plants and the other think about honor i'm a mom you know why is the judge casting aspersions toward these jurists doesn't he understand the state of the society that we're in today the judge needs to recuse himself for having a grant of the sixth grade education we need stupid our judges to handle super jurists to go after stupid ban

missing this jury if this is the jury of their peers this is the population that gary gensler and lloyd blankfein and jamie diamond and stephen hester and this is and george osborne this is the population they've created of cretins this is a jury system they should put this guy gary gensler in front of this jury of cretins and add them. judgment upon his head and they show slight him well ok so see f.t.c. also failed to identify any sign of any crime and that's global when john corps sign reached into client funds took it and gave it to j.p. morgan he was unable to find any sort of evidence of a crime there this is an idiocracy this is where people don't know remember in the future in this film that the population of america didn't know that you had to water plants and the other think about honor i'm a mom you know why is the judge casting aspersions toward these jurists doesn't he understand the state of the society that we're in today the judge needs to recuse himself for having a grant of the sixth grade education week stupid or judges to handle super tourists to go after stupid bankers to mak

what happening in greece for example the rating agencies plus citibank plus goldman sachs plus lloyd blankfein member there and grace they gave to play rating to toxic securities that they knew would blow up knew that the country would blow up and they're in there with privatization schemes they're taking over assets for pennies on the dollar as part of a leveraged buyout of a country called greece. and so now as i said there witnesses are coming forward in the saying wait a minute now that people are on the streets with torches and pitchforks and looking for their pound of flesh we want to point the finger at citibank and citibank is saying wait a minute we need the government now the department of justice under holder who's he's a hit man he's going to whack him one way or another of course bank of america and citigroup have a long history that one could see that they didn't they are very innocent these two banks in particular would have no understanding of the fraud they themselves were perper to look up argentina you know back in the eighty's and ninety's they had the government nationaliz

morgan and goal and lloyd blankfein and and hester here at r.b.s. here in the u.k. would have to be recognized as charlatans as as as as financial wizards you know there are just there they would have to come to reality but they know where people would rather stay in a virtual world of course we've had globalization over the past few decades thanks to these rising bond prices and falling commodity prices now the other trend has been that declining wages. now that hasn't reversed certainly in america they are increasing in china and places like that but part of the reason why many americans didn't notice their declining wages since one thousand nine hundred seventy one when the us went off the gold standard is that food prices have continued to fall and fall fall so it always made up a left lower and lower percentage of the average household expenditure now according to john gapper of the financial times perils of supermarket cost cutting machines the switching of horsemeat for beef is a spectacular signal that a limit has been reached so he talks about the declining

what happening in greece for example the rating agencies plus citibank plus goldman sachs plus lloyd blankfein member there and grace they gave to play rating to toxic securities that they knew would blow up knew that they country would blow up and they're in there with privatizations games they're taking over assets for pennies on the dollar as part of a leveraged buyout of a country called greece. and so now as i said there witnesses are coming forward and they're saying wait a minute now that people are on the streets with torches and pitchforks they're looking for their pound of flesh we want to point the finger at citibank and so the bank is saying wait a minute we need the government now the department of justice under holder who's he's a hit man he's going to whack him one way or another of course bank of america and citi group have a long history that one could see that they didn't they are very innocent these two banks in particular would have no understanding of the fraud they themselves were perper to look up argentina you know back in the eighty's and ninety's they had the governme

what happening in greece for example the rating agencies plus citibank plus goldman sachs plus lloyd blankfein member there and grace they gave to play rating to toxic securities that they knew would blow up knew that they country would blow up and they're in there with privatizations games they're taking over assets for pennies on the dollar as part of a leveraged buyout of a country called greece and so now as i said their witnesses are coming forward and they're saying wait a minute now that people are on the streets with torches and pitchforks they're looking for their pound of flesh we want to point the finger at citibank and so the bank is saying wait a minute we need the government now the department of justice under holder who's he's a hit man he's going to whack him one way or another of course bank of america and citi group have a long history that one could see that they didn't they are very innocent these two banks in particular would have no understanding of the fraud they themselves were purport to look over to parchin tina you know back in the eighty's and ninety's they still ha

what happening in greece for example the rating agencies plus to the bank was goldman sachs plus lloyd blankfein member there and grace they gave to play rating to toxic securities that they knew would blow up knew that the country would blow up and they're in there with privatizations games they're taking over asses for pennies on the dollar as part of a leveraged buyout of a country called greece and so now as i said their witnesses are coming forward and they're saying wait a minute now that people are on the streets with torches and pitchforks they're looking for their pound of flesh we want to point the finger at citibank and so the bank is saying wait a minute we need the government now the department of justice under holder who's he's a hit man he's going to whack him one way or another of course bank of america and citigroup have a long history that one could see that they are very innocent these two banks in particular would have no understanding of the fraud they themselves were purport to look up argentina you know back in the eighty's and ninety's they still have the government natio

the whole mafia in new york for the same reason that you never get the top guy the jamie dimon lloyd blankfein saying commit the fraud so you've got to infiltrate the organization why don't you send one of these you know banks to loving d.o.j. guys to pose as a bank so they already look like one go in there and pretend to be a banker and get them all committing the crimes well they're all invested in front but this reminds me of the frank quattrone defense if you remember at credit suisse he was caught doing laddering in the i.p.o. market committing fraud and the jury said way of crimes are too complicated so we're going to let you get a walk so the lesson is if you're going to be a criminal make sure your crimes are too complicated for the average drug addled moron jury in america to understand if you just omit don't it you know get free and say it's too complicated the crimes are complicated you can understand it i have another have another sedative and i'll finally along this you know why it's important to prosecute these guys how apples fall hit bondholders to imagine your broker says you

morgan and goal and lloyd blankfein and and haster here at r.b.s. here in the u.k. would have to be recognized as charlatans as as as as financial wizards you know there are just there they would have to come to reality but they know where people would rather stay in a virtual world of course we've had globalization over the past few decades thanks to these rising bond prices and falling commodity prices now the other trend has been that declining wages. now that hasn't reversed certainly in america they are increasing in china and places like that but part of the reason why many americans didn't notice their declining wages since one thousand nine hundred seventy one when the us went off the gold standard is that food prices have continued to fall and fall fall so it always made up a left lower and lower percentage of the average household expenditure now according to john gapper of the financial times perils of supermarket cost cutting machines the switching of horsemeat for beef is a spectacular signal that a limit has been reached so he talks about the declining

the whole mafia in new york for the same reason that you never get the top guy the jamie dimon lloyd blankfein saying commit the fraud so you've got to infiltrate the organization why don't you send one of these you know banks to loving d.o.j. guys to pose as a bank so they already look like one go in there and pretend to be a banker and get them all committing the crimes well they're all invested in fraud but this reminds me of the frank quattrone defense if you remember at credit suisse he was caught doing laddering in the i.p.o. market committing fraud and the jury said well you're crimes are too complicated so we're going to let you get a walk so the lesson is if you're going to be a criminal make sure your crimes are too complicated for the average drug addled moron jury in america to understand if you just omit don't it you know get free and say it's too complicated the crimes are complicated you can understand it i have another have another sedative and i'll finally along this you know why it's important to prosecute these guys how apples fall hit bondholders to imagine your broker says

what happening in greece for example the rating agencies plus citibank plus goldman sachs plus lloyd blankfein member there and grace they gave to play rating to toxic securities that they knew would blow up knew that the country would blow up then they're in there with privatizations games they're taking over assets for pennies on the dollar as part of a leveraged buyout of a country called greece. and so now as i said there witnesses are coming forward and they're saying wait a minute now that people are on the streets with torches and pitchforks and looking for their pound of flesh we want to point the finger at citibank and citibank is saying wait a minute we need the government now the department of justice under holder who's he's a hit man he's going to whack him one way or another of course bank of america and citigroup have a long history that one could see that they didn't they are very innocent these two banks in particular would have no understanding of the fraud they themselves were perper to look up argentina you know back in the eighty's and ninety's they had the government natio

morgan and goal and lloyd blankfein and and haster here at r.b.s. here in the u.k. would have to be recognized as charlatans as as as as financial wizards you know there are just there they would have to come to reality but they know where people would rather stay in a virtual world of course we've had globalization over the past few decades thanks to these rising bond prices and falling commodity prices now the other trend has been that declining wages. now that hasn't reversed certainly in america they are increasing in china and places like that but part of the reason why many americans didn't notice their declining wages since one thousand nine hundred seventy one when the us went off the gold standard is that food prices have continued to fall and fall fall so it always made up a left lower and lower percentage of the average household expenditure now according to john gapper of the financial times perils of supermarket cost cutting machines the switching of horsemeat for beef is a spectacular signal that a limit has been reached so he talks about the declining