>> how much money lloyd blankfein invested in marc mezvinsky hedge fund.you know how much money? do not much money would blankfein invested? >> i don't know, has it been reported? >> no. do not much money? >> you what to give me your contact information? >> are you when you get back to me? amy: that was intercept reporter lee fang questioning clinton and then her press secretary nick merrill at a campaign rally last thursday. lee fang was also the first reporter to ask clinton to release transcripts of her speeches to goldman sachs earlier this year. we're going straight to lee fang, investigative journalist at the intercept covering the intersection of money and politics. your recent piece is headlined, "hillary clinton won't say how much goldman sachs ceo invested with her son-in-law." welcome back to democracy now! lay out what you are trying to find out. >> good morning. thank you for having me. in 2010, marc mezvinsky married chelsea clinton. the following year in 2011, he began fundraising for his hedge fund. reportedly, lloyd blankfein, the chief ex

scarlet: coming up, lloyd blankfein receives the biggest cost cutting push in years.story, next. ♪ you are watching bloomberg markets. i am alix steel. scarlet: i am scarlet fu. time for the bloomberg business flash. from at anheuser-busch to triple b plus as it remains a negative watch. this comes as south africa's competition commission says they may not meet the raiders deadline to complete the investigation into their takeover of miller. officials say there are issues that need to be addressed. lack above $60 billion by june, giving chairman warren buffett a bigger war chest to make acquisitions and buy stocks. and last month's meeting, he said the figure fell to about 50 billion after the completion of a january deal, but will likely jump in june as it redeems preferred shares. scarlet: a trial made for hollywood and underway in los angeles. the issue on whether 92-year-old media mogul was mentally competent when he threw his ex girlfriend out of his home and removed her from overseeing his medical care. the verdict could decide to ends up controlling [indiscerni

david w.: michael, you reported on goldman sachs and lloyd blankfein several times. go back to his management team to rethink some of this? mike: i don't think so. he is pretty confident in his strategy of what he likes to refer to as maintaining some option alley -- optionality. if markets rebound, he wants to be able to jump onto that. while the stock has not done well, they have maintained returns better than their competitors. that has given them a little more flexibility. you may start to see that change. you have seen some acknowledgment with the cost cutting. david w.: thank you so much. bloomberg's michael moore. ray mcnulty, what is the future for a bank such as goldman sachs? ray: i think goldman will figure it out. they have been a real -- around for a really long time and i think they will do just fine. david w.: thanks very much. e.at is rate nolte -- ray nolt a debt deal ahead for cash-strapped puerto rico. ♪ david w.: this is "bloomberg go." i'm david westin. up -- vonnie: this is "bloomberg go." deere has cut its full-year forecast. industry-wideys sa

the investment bank is laying off more than 100 employees in fixed income decision as the ceo lloyd blankfeinundercutting the biggest cost cutting push. the cost cuts weighing on goldman's stock, down 11% year to date. closed down half a point today. >>> and one pastor's anti-target video is going viral. >> businesses, by and large, will probably take the same route because they think they're being politically correct. at the end of the day, they're being ignorantly, ignorantly naive. jo ling: the pastor there is here to talk about this and the boycott that's now over one million people strong. >>> and a new report showing obamacare premiums are about to skyrocket. find out by how much, next. >> now is the time to finally keep the promise of affordable, accessible health care for every single american. [ cheers ] >> if you have health care, my plan will lower your premiums. many people clean their dentures with toothpaste or plain water. and even though their dentures look clean, in reality they're not. if a denture were to be put under a microscope, we can see all the bacteria that still exi

their propaganda views from bob iger with disney with the h1-b visas to tim cook from apple and lloyd blankfeinom goldman sachs, with the north carolina bathroom bill, they're opposed to that. the ceos use the companies that they run -- deirdre: this is more directed that it's in a news feed and essentially facebook has the power to curate what pops up on a lot of people's home screens. deneen, thank you. deneen borely with me there. shares of facebook, if you look, down half a percent today. yesterday, lifetime high and the stock is on a run so far this year. >>> speaking of tech stocks. jeff bezos may be celebrating tonight. amazon founder and ceo made more than a billion dollars yesterday when the stock closed at a record high. he personally is now worth close to 60 billion dollars. among the top five richest people in the world. one reason for enthusiasm for the stock. amazon account holders can upload original videos to the direct service. this is a direct shot at google's youtube. amazon's stock up more than 1% today. >>> a $30 million buyout offer may seem like a dream for an entrepreneu

i have enormous respect for lloyd blankfein. they owned up to their mistakes, made appropriate changes in personnel and the company companies. you don't indict goldman sachs on the actions of a few people or valeant on the actions of a few people. >> there were issues with the business model, no? >> sure. fortunately it's a small part of the business. the drugs in question, less than 5% of the revenue of the company. the strategy in question which is not something we approve of, 13% of the business was buying old drugs and marking the prices to market. they had a justification for it. i'm not going to defend it. if you think about the balance of the business, baush and lomb is one of the greatest ophthalmology companies in the business. you have middle east, eastern europe, asia, all over the world, south america has been extremely successful. you have a company they acquired last year which makes a life-saving drug, drug that makes people more comfortable every day. the company makes a lot of very good products. i met many of t

michael: i would like to hear what lloyd blankfein vision of what the fixed income rebound looks likeor the trading business. whether it is going to be five competitors fighting over a pool of $80 billion or whether it is going to go back to nine competitors fighting over $150 billion. we have seen so much shrinkage in that business. the question is whether it's structurally changed and secularly down from where it was five years ago, or whether he is holding onto the believe that a lot of this is cyclical. francine, operating income was $17 billion and they made it back to $10 billion. francine: yeah, we were talking about market cuts. and about cutting some of the -- banks. yesterday, it was an advocate it seems that after some months -- about thencern viability of deutsche bank john cryan was able to garner a little bit of shareholder confidence. michael: he seemed to generate a lot of support at the meeting. both in the voting and the commentary from shareholders. people seem to get behind him and his strategy for turning around the bank. the chairman got a lot more criticism than

michael mckee, i spoke to lloyd blankfein last night. arch capital's fans. mr.abby joseph cohen is sedated today. michael: my feeling that they are cursed is absolutely correct. it is like the chicago cubs for a long time and the boston red sox. superstars,iant milken and crosby of pittsburgh. tell our audience about mr. ovitz can of the capitals. he scores 50 goals a year but has not made it past the second round of the playoffs in his career, unlike mr. crosby. ,om: for those who are inside you wonder how long he can stay in washington. francine, step in here. francine: i just googled how many fans of the nhl -- the nhl has come and they claim 50 million fans. tom: it is a huge deal. there are many less hockey fans in basketball, but advertisers love the demographic, particularly in canada. for those of you in canada, i am wearing my don cherry blazer tomorrow. let's get to volley -- let's get to volatility right now. ite: sergio ermotti calls damaging volatility. we have seen it in the bank losses because volatility is up and we can show that with the vi x in

in the crowd, lloyd blankfein, john sykes, larry robness, there you see, bill ackman, paul tutor jonesllion for charity. that has to be the most profitable fund-raiser in new york city every summer. >> by the way, how great is zac brown live? >> i haven't seen them there, were you? i've seen them in concert. >> who was the guy with the hair. >> jones. >> brans. >> my uva classmate. >> what happened to you, mathisen? >> wow. >> yeah. he's been extraordinary generous. >> excellent. >> hope to see you, paul, at the reu. reunion. our 40th, my friend. our 40th. >>> all right. 1,500 works of rare art going to the dwavl this week. including two master peels. a "power lunch" exclusive. standing next to one of those monets. nice to have you with us, brooke. we appreciate you being with us. >> thank you so much. thanks for having me. >> put this season's auction in context as against last season. we are hearing that maybe the prices may not go as high as they did? i'm thinking of one of the piece use have on sale. mow dill janne. last year it went for $180 million. this one this year is expected

michael: the thing that lloyd blankfein constantly says is that the cycles can turn quicker than you imagine. that has been kind of his this isas he says that why the bank is holding on. this is why they are not cutting major parts of the business and why they have stuck with this the business. he thinks it can turn very quickly. that just has not happened over the last six years. with the continued decline in this business, you have to adjust somehow or otherwise you come under pressure from your shareholders. that thises to think is partly cyclical and can bounce back, but there are some secular elements here. david: matt, i want to bring you in on this question of volatility. matt: i have a chart of volatility and we have a great story on bloomberg.com today about this. it has paralyzed volume. spiking up the vix to 40 and hovering around 25 this year. you mentioned goldman sachs only had three trading days over $100 million. back in the second quarter of 2009, goldman sachs had 46 trading days over $100 million. was is when the vix averaging 40 if not 50. what is going on with tr