lloyd blankfein wants to keep t the current size and structure of the firm.es all over the country and the world. inside the company, many of the partners, most of the partners are actually advocating for a downsize of the firm from that level to something close to 20,000, and here's what they want to do, they want to get rid of the bankers and the far-flung offices, not have a bank in every city and state and bring it to a manageable level and focus the firm on a few key areas of production including trading, which they believe will come back, now that donald trump is president. they think they can get rid of the dodd-frank rules that prevented trading and want this to be a much more manageable firm, where they can make more money being smaller. as you know lloyd blankfein is the ceo, two years left, he's advocating for keeping it the way it is, and they're likely to keep it the way it is for the time being. but there is a debate in there and i find this fascinating. sometimes the debates lead to substantial change, where some say most of the partners want t

lloyd blankfein's face in that ad. >> and goldman sachs in particular. >> specifically goldman sachs and the fact if clinton had won because of sanders and warren, it would have been very hard for her to appoint any goldman people because they would have gone crazy. here we have two and possibly working on three. >> and then, of course, the lovely irony of bernie sanders and elizabeth warren who were campaigning so hard against all of trump's on the campaign trail and now they're upset he's breaking those promises. >> because everything feels like a bait and switch. when you run the ad that this very steve bannon inflected idea that it's the globalist plutocrats that are robbing the working class then you put mnuchin in as the head of treasury. >> he is the former president of one west bank, the chairman, sorry of one west bank, he oversaw a whole bunch of foreclosures, there's wilbur ross who just got appointed as commerce secretary who is like even richer than both of them combined who is a corporate raider. they make money by firing people, not by hiring people. this is the classi

exclusive interview with lloyd blankfein is coming up. this is bloomberg. vid: -- jonathan: this is "bloomberg daybreak." spoke in london and a bloomberg panel. take a listen to what he had to say. lloyd: one of the difficulties of the most recent year, the financial crisis, the aftermath, trauma that of the we went through is a almost became a negative to have a culture when people left the firm and were still gassing their tanks. wanting to spend the rest of their working lives in public service and people who put out the idea that going to that public service, if that was a pejorative, i never felt a that way. and i think that pendulum happily has slowed by dutch flow by to recognize -- slowed by to recognize the one sacrifice it entails in how grateful we should be to those people and not the reverse. jonathan: as graduates head to d.c. with us stocks up in it opens up a leadership vacuum on wall street over the biggest financial institutions. for more on goldman, we are joined by michael moore who leads bloomberg's team and knows it inside out. gary coh

he said trump is level headed, a level-headed leader, says lloyd blankfein.mart guy, smart businessman, and he may turn out to be much better than anyone else that went after this job. all in all, he raptured around donald trump, he's also in rapture about his stock price. stuart: that's a complete reversal from what we saw about 35 days ago. now we're up 19, 18 points, 19,633. the nasdaq has just hit an all-time record high as well. i never thought i'd see it get back to 5,4, but it's there. >>> coca-cola chief muhtar kent stepping down, he'll continue to chair the board after he leaves the ceo role. that's up 1%, coca-cola. very slow sales at restoration hardware. that stock's taken a big, big hit. nicole, tell me about it, please. >> restoration hardware, this stock this year is down over 50%. down 18% today. they were trying to get everybody to go into their membership program and wean everybody off of promotions and everything, and i can tell you they failed. they failed miserably. it didn't work, and then they were forced to do markdowns. they have to c

lloyd blankfein that he surveyed a cancer scare is not leaving for some time and he is getting itchy.there is gary cohn story he is leaving every two years. this seems like it has some relevance here, particularly with his meeting with trump. we should point out, him going at energy secretary is pretty good fit. he is commodities trader. >> right. >> he is pretty smart. he has been doing energy-related work for a long time. connell: right. >> actually sounds like a better fit than omb. connell: right. >> that is where we are. we're not saying it will happen. he is on the list apparently as potential energy secretary. he is right now, the rumor inside of goldman and they have not denied this that he is imminently, he is looking to bolt out of there. he wants this or wants to be ceo and he is not goings to be ceo. back to you. connell: thank you, charlie. melissa. melissa: new era of cooperation, russian president vladmir putin announcing he is willing to mend ties to the u.s. during his state of the union address. putin saying, quote, we're ready for cooperation with the new american a

we are here with lloyd blankfein who has been with goldman sachs for 10 years. don't think any of your head assessors state that long. lloyd: i'm sure it seems that long but they didn't say that long. david: let's talk about your early life. you grew up in new york city. when you were growing up you didn't have a lot of money. was money something you thought about when you were growing up? what were you interested in when you were a young boy? lloyd: i didn't think about money because we went to school with kids like us. so i didn't know -- i don't know if it would have changed me, had i known but i didn't know the range of possibilities. i grew up in brooklyn. david: your father worked in the post office. lloyd: they were colleagues. david: right. their job was to file the mail. sort the mail. so you weren't wealthy. you went through public schools. that enormously did pretty well because you were valedictorian in high school. so you realize you probably were smarter than the average student. lloyd: i knew that ranking high in my school, i was certainly good at

former goldman sachs banker but donald trump ran an ad against hillary clinton that portrayed lloyd blankfein, goldman sachs ceo, as pa of a global power structure. let's watch. >> it's a global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth, and put that money into the pockets of a handful of large corporations and political entities. >> steve mnuchin, does he fit the bill of somebody who's anti-wall street? he's part of it. >> he is someone who will come in and take mr. trump's message of economic pollism will and turn that into how we'll reform the tax code. one thing that folks might not realize is that steve mnuchin largely wrote president-elect trump's tax plan. who came up with the plan of how we're going to bring rates down for everybody. you have to get folks who know how the system works and how to turn it around, and we have wilbur ross, recommendation for commerce secretary and he'll do the same things on the trade deal to make sure we have trade deals that work for the american workers. >> but

we are here with lloyd blankfein, who has been the chairman and ceo of goldman sachs for 10 years ando not think any of your predecessors in the last two decades stayed that long, is that right? lloyd: it seemed that way but it was not that long. david: let's talk about your early life. you grew up in new york city and when you were growing up you did not have a lot of money. was money anything you thought about when you were growing up? did you want to have a lot of money. what were you interested in? lloyd: i went to school with kids that were like us. i didn't know what the range of possibilities were, i didn't know that we were not well-to-do. david: you grew up in brooklyn? your father worked as my father did in the post office. mine worked in baltimore and yours was in new york, but their job was to file the mail, not to deliver it, sort the mail. you were not wealthy and you went through public schools. you obviously did pretty well because you were valedictorian. you always realized you were probably smarter than the average student. lloyd: i knew ranking high in my school mea

the fear was because lloyd blankfein has left as ceo, no one could move up. three vice-chairman -- chairmanr retire. there are a number of positions people can move up to. julie: who is the next generation? potentialbe the contenders for his position? erik: lloyd doesn't seem to be going anywhere, but this could precipitate a bigger shakeup of the gold that shakeup of goldman sachs paid it could give the board recent to consider who will be the next ceo. it's going to precipitate those kinds of conversations in the boardroom. to answer your question about who might move into the there is a long list of potential names. 35 on the management committee. let's say only four are probably real contenders because of their age, their rage -- their range of experience, the amount of respect they command. and david solomon is the cohead of investment banking. david solomon is not a gold man lifer. david solomon's younger, he came and his dna is actually drexel. if he came to goleman sacks as a partner in 1999, there is a current cfo, who has been termed as gary junior.

the end of the day, jamie dimon, lloyd blankfein, you want to take your troops from jp morgan and goldman to paris, to the boulevard, have a lovely holiday. i'll give you a clue, guys — you'll be back. i'm joined by our economics editor, kamal ahmed. we saw brexit back in the summer. looking ahead to 2017, where do we stand in terms of uk negotiations? everything looks so uncertain. the phoney war will come to an end, britain voted to leave the european union injaw and the practicalities of that will begin next year. —— in june. the british government wants to spark article 50 which starts the process of exit. by the end of march. that is a two year process so that should be completed, we think, by 2019. there are tensions on both sides. in britain, there are tensions between those who want what is cold a hard brexit, fully out of the single market and the customs union, able to sign trade deals around the world itself, with no reference to the european union. and those that want a softer brexit, still having preferential access to the single market, possibly still in the single market, p

he has been seen as the most likely successor to goldman ceo lloyd blankfein.uld be the third goldman sachs alum. bannon, mnuchin. >> this will be big news if he leaves. people saying they might split two. >> or maybe he will stay another four years. >> changes in the bank not as important as changes management. >> top performer on the dow. >> here's what president-elect donald trump's pick for treasury is secretary said yesterday on "squawk box" and his expectations for interest rates. >> i think interest rates will stay relatively low for the next couple of years. we're in a period of time of low interest rates. i think stay there. they have come up a little bit, which i think makes sense. we will look at all different types of opportunities, maturing the debt. again, we will have higher interest rates. that is something this country is going to need to deal with. >> a muted vote of confidence for janet yellen. >> she's been doing a good job. >> didn't go further than that. it was a curt answer. >> i'm sure they will have a big influence on that tomic. and vo

the goldman sachs ceo lloyd blankfein is happy that having former goldman bankers in government is no longer seen as a negative. gary: is stepping down to serve as head of the national economic council in the trunk administration. another goldman alum, steve mention, has been nominated to be treasury secretary. blankfein spoke in london. recognize how much it does for society to have people working in banks in government. >> blankfein appeared at a business0,000 small panel hosted by bloomberg. the new prime minister of italy has now survived a second vote in parliament. that paves the way for the government to lead the way into the next election. the democratic party does not have an absolute majority in the upper house, so he has to rely on reports from senators who could then change their minds. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm courtney donohoe. mark: fed decision day is here with a hike almost certain. the consensus has official sticking to a prediction of 2 hikes next year. most expect yellen to be -- g

. >> listen, gary cohn wants to be lloyd blankfein, he wants to be ceo, lloyd blankfein survived cancer and probably going to stay another five years. i don't think gary wants to wait five years. i think he wants to run something. this is a good landing pad if he gets o and, b, particularly energy, particularly energy secretary, running that department is a big thing, that would be a great cap. neil: what about wilbur ross? he will transform the commerce department. >> he's a smart guy. neil: very smart. >> he understands trade, tax policies. neil: lot of billionaires. >> why do we care about billionaires? neil: i don't know. >> do you want jack lews running around the white house? jack lew was the treasury secretary. neil: money doesn't define intellect. >> he had a cup of coffee at citigroup in a very controversial part of the department that led to the destruction of citigroup and made a chunk of money out of it. neil: dialed up the word you were thinking of. >> do we want that? or wilbur ross who earned his money. neil: the observation there are a lot of rich people. >> my thing wit

lloyd blankfein giving the sort that he took it for patriotic reasons. this is the head of the nec, a significant role but not nothing as significant as treasury secretary. there is a an element that cohn was forced out and never felt to be ceo. as for who takes over it is thought that his dual title, president and ceo will be split up. the front runners would have to be david solomon and harvey schwarz. some outsiders, the like of co-head of the securities division, martin chavez and steven scherr. the consumer part of the business and chief strategy officer. changes still to take place. we are not expecting an announcement on who is replacing cohn in the next 24 hours. >> we trust you to bring it to us. thank you so much. >> some context of this move of gary cohn. the dow is the only major average up today. >> pretty much thanks to oil stocks and oil rally today. >> the broad s&p 500 down about four or five points. nasdaq down 38 and the rustles, the small caps down 16. >>> china's chilly response to the phone call between president-elect trump and tai

and a more quirky one, of which will are many, will either goldman sachs lloyd blankfein or jamie dimon? they say no. a nice global look at some headline predictions for next year. >> i focused on the news of the day, obama sanctioning russia. expelling 35, making all the covers of the front pages. the "wall street journal" op-ed editorial take on this, the larger flaw here is that mr. obama's order amounts to a far too late signaling exercise to underscore u.s. displeasure rather than a serious retaliatory strike that imposes real costs on responsible russian officials. mr. ryan was right to support the action but also right to add that they are an appropriate way to end eight years of failed policy with russia. that's the general consensus, at least from republicans, obama does get credit for retaliating. >> but veiled credit. >> too little too late perhaps is sort of the common criticism. >> backs to the markets. bright spots in the s&p 500. energy was the best performing sector up 24% this year. healthcare has been a drag. down 40%. here with his 2016 outlook is a portfolio manager

did an ad where he targeted lloyd blankfein of goldman sachs and kind of said how terrible they all areer: how does this work? did wall street want trump to win all along? dakin: it is a very good question. i wish i had all the answers for you. i am surprised as you guys are, as a lot of our viewers and listeners are. i think some of it has to do with the fact that a lot of trump supporters are not that closely monitoring who his appointments are. i do not know, but my suspicion i just came off a conversation with somebody in d.c. who has been watching this pre-closely. the point he made to me was, if the goldman guys at the top of trump's administration create jobs, bring manufacturing back, nobody is going to care that they were goldman guys. they just want their economic livelihood are stored and brought back. so you have a president-elect who is making appointments, it is during the holiday season. maybe the people who voted for him who got behind trump are not watching really closely, and then come january into february the rubber will hit the road and they will see, wow, we have a

gary cohn is the longtime number two of lloyd blankfein at goldman sachs and itches for the top job. he is rumored to be trump energy secretary or head of the omb, i understand from people, he and trump got along very well. trump, quote, unquote loved him. this is coming from friends of gary cohn, gary cohn has threatened to leave goldman sachs up until a couple of years ago. this is a reoccurring theme. he wants to be ceo. friends are saying he's telling them he wants out. he's likely to leave. i can't give you any timetable. for all i know, tomorrow he's going to say i want to stay. great job, travel around the world, make a lot of money. he's telling people he's got one foot out the door and would like to work for the administration. the two places i hear, maybe something else, the two names i hear, omb, energy department, remember he was a commodities trader. liz: we're going to keep our eye on sprint, it is spiking. other things that are moving, not necessarily in that direction with the closing bell 48 minutes away, nike, the biggest drag on the dow 30. right there. cisco secon

highly critical of goldman sachs as recently as three weeks ago when he featured footage of ceo lloyd blankfeinn his closing argument ad, invoking the global power structure that has robbed our working class. those are his words. and trump bashed his opponent's ties to the company so frequently that even his supporters adopted it as an attack. >> name one who had a million dollar judgment against you. >> donald trump -- >> self-funded. >> that's right. not you. >> so you like rich people who buy politicians? >> where's your goldman sachs jacket at? >>> well, there are more people angling for a role in the trump administration, including form e alaska governor and 2008 vice presidential nominee sarah palin. nbc news reports that the trump supporter is in early contact about a job. source did not suggest a specific position, but it seems she's leaning towards secretary of veterans affairs, given a video her son-in-law posted to facebook yesterday. >> a mother who stayed up nights worrying if her child would make it home, she knows we want nothing more than to serve our great nation. >> we can't w

you spoke to lloyd blankfein recently on your program. it is clear that the u.s.a good job of cleaning up the banks after a financial crisis, but they have done a better job of allowing the banks to finance the u.s. economy. >> no doubt that after the great recession, the european banks are not clean up their balance sheets as much as the u.s. of things did. they also had some bad loans and are not lending as much as they should. to be more ecb needs aggressive in telling the banks they need to lend more and also provide more support. i think mario draghi will expect a spectacular job, and unfortunately, he will have to leave. he's the most important financial figure in europe, and when he goes, it will be a big problem. isathan: david rubenstein sticking with us. david: coming up, donald trump's senior team -- david rubenstein on trump's transition. that is next. this is bloomberg. ♪ this is bloomberg. trump's cabinet is looking more like a board room. rex tillerson, exxon mobil ceo, has been talked about as a likely secretary of state nomination. wilbur ross, co

julie: he made lloyd blankfein the antichrist during the campaign and flips and changes what he said.y this, i don't know how much the market doing so well -- and it has done well over the last eight years as well because don't forget where we were in 2009 versus with where the market is today -- whether that trickles down to the average person in maces like ohio and indiana -- in places like ohio and indiana. what happens on wall street and at the stock market is not necessarily a leading indicator of what happens with jobs. melissa: totally. and that's why we were talking about consumer confidence as well, you see more people out there spending this holiday season, getting the gears going. you mentioned housing prices, so we are so far seeing the average pocketbook go up as well. but you're right, time tell, as always. >>> we now know the ohio state attacker praised radical cleric anwar al-awlaki on facebook, and isis has claimed him as one of its soldiers. but the fbi says it's still too soon to say whether the attack that left 11 people wounded was terrorism or not. how much more

cabinet, top hive hea-heavy say, with goldman sachs people, even though the ceo of goldman sachs, lloyd blankfein was in the ad with hillary clinton because of the high-dollar speeches she gave during the campaign. there's a disconnect there. that said, bob gates showing up at trump tower today, going to visit mike flynn, the incoming national security adviser. bob gates, former national security adviser. he was a sharp critic before of donald trump during the campaign. he and others from the bush years. and now he and a number of others, including condoleeza rice, others who signed that letter of other foreign policy vorz, beginning to show up to advise, to try to consult, those who are not seeking jobs, wanting to be part of the process. that says a lot from the foreign policy people i'm speaking to. they want to help. >> reporter: you're right. we saw condoleeza rice, meeting privately with vice president-elect mike pence, and saw bob gates being whisked upstairs by lieutenant general michael flynn, now national security adviser, to donald trump. you talk about his criticism, the criticism fro

joe: presidentman sachs gary cohan was the heir apparent to lloyd blankfein and has accepted the jobtch chief economic policy adviser. the kremlin is disputing claims that it used to hacking to interfere with the presidential elections. the press secretary to vladimir putin told reporters that the allegations have nothing to do with reality. trump and his team are pushing back on the claim. a brazilian soccer player who survived the deadly plane crash in colombia has woken up from a coma. the player had no memory of the crash. he wanted to know the outcome of the game. 71 people died. german chancellor angela merkel this a priest with president-elect trump on china. merkel says she is standing by the one china policy. thep says that upholding one china policy will depend on trade. this is bloomberg.

is lloyd blankfein trying to consolidate? >> i wouldn't conclude the story in that way. i think that there has been enormous stability for a long, long time in goldman among the upper ranks of the firm. and i think what you're seeing in the context of some of the people going on, they have long tenure at the firm and i think they viewed it as a moment in time to go out and pursue other things. as far as gary is concerned, you know, gary is and has been an enormously positive force inside the firm. and i think, you know, the opportunity may well be presenting itself. i don't know the details. i read it as you do in the paper. but the opportunity may be there for gary to move into government. and i have every expectation he would be as positive a contributor there as he has been at goldman. but i wouldn't read into this sort of any -- any sort of story or plot. i think that these are all sort of events that are particular to the individual who is are moving on. >> presents opportunities, though, for other individuals like yourself? >> sure, by definition it does. whether t

work for but rather the fact he did not, doesn't seem like he will get the top job to replace lloyd blankfeinytime soon. he met with trump. we understand he had three meetings. all went exceedingly well. apparently trump really likes the guy. there was a meeting my producer brian schwarz was able to uncover which no unelse in the media knew about. that appears to put him over the top for a job. potential amb chief. i never thought he was that. "politico" had that. we heard he would take energy secretary. gary cohn is long time trader and traded energy and commodities at goldman sachs. made a lot of money doing it. he wanted something with more of a bigger economic portfolio, i think where they're settling on nec, national economic council. guys, just so you know, past nec directors have become treasury secretaries. most fame must i can remember, david can check me, robert rubin. bill clinton's nec chief. designed economic policies in clinton early years led to deficit reduction and went from there to be treasury secretary. one thing i will say about this, you have to ask yourself where are th

and it specifically called out this guy, goldman sachs ceo lloyd blankfein as a member of the rogues gallery of plutocrats. now almost a month later trump is set to nominate blankfein's number two to a post. they've asked gary cohn to serve as the director of the national economic council and assistant to the president for economic policy. he's worked at the bank for a quarter century, presiding over its role in packaging and selling the sub prime mortgage loans that precipitated the financial crisis. in 2010 e-mail service between cohn and other executives were able to benefit from the mortgage crisis. the bank had taken advantage of its clients. cohn testified in defense of the practices. >> during the two years of the financial crisis, goldman sachs lost money in its business. we did not bet against the clients and these numbers underscore that fact. it's useful with hindsight to criticize actions taken. >> throughout the campaign trump attacked his opponents and goldman sachs in particular. kind of a theme. after "the new york times" reported that ted cruz had failed to report a

they were ceo lloyd blankfein was held before congress and held up as emblematic of the wrong doing inbed in rolling stone as being a vampire squid. given the campaign trump ran, very populist, anti-wall street, it's shocking to see the upper level of his administration stocked with goldman vets. and now, steve mnuchin is going to be his next treasury secretary. not only a goldman partnerering but his dad was a goldman partner. >> backlash against goldman wiig involved in the administration. where do you think we'll see it first? >> i think the first plus we'll see it is in democrats coming out and seizing on mnuchin as the new target of attack. a couple weeks ago, liberals decided they were going to take down steve bannon. looks like they lost that fight. yesterday, for the first time, a joint statement put out between bernie sanders and elizabeth warren attacking steve mnuchin. so i think he's going to be in for a rough confirmation hearing and democrats are going to see him as someone they can go after and try to take down as a way of wounding donald trump. >> but josh, he's actuall

that coming from lloyd blankfein. >> so begins the official horse race for heir apparent. >>> now tosince 1917 radio flyer has been a gift at the top of every christmas list. now, however, it's a new era, i-pads, how does a company keep up in a high-tech market place? we will ask ceo of radio flyer. do kids want one of these anymore? >> wagons are still a staple. this is the original. we have wagons that have seats, seat belts, cup holders. >> seat belts for the high speeds that the wagons achieve. >> it is more for keeping the toddlers in place so they don't stand up in the wagon. >> this is the hot new item, right? >> this is the model s for kids. we partnered with tesla. what we have done in the kids' car market is basically what tesla has done in big people's car market. we disrupted it by changing everything about the product, how people buy it. you go to radioflyer.com. you can customize it, put your kids name on the license plate. it has working head lights, mp 3 player. >> ludicrous mode? >> there are two speeds. we don't get to ludicrous mode but low speed and high speed. >>

he wants to replace lloyd blankfein. he had a meeting.is not a high level choice for that job. he is so liberal, one of wall street's initial backers of barack obama. he may get the job, the word i got last night -- neil: that is what they mean you're not draining the swamp, populating it with a swampy guys. >> a lot of contradictions with donald trump. neil: wrapped in a conundrum. >> i am not from the swamp. neil: you never forgotten the swamp. >> italians were buried in swamps back in jersey. mooch, goldman. wilbur ross, big time billionaire, finance ear. gary cohn goldman. mnuchin, goldman. this is like goldman coming back to life. you remember jason? neil: look at the time. charlie gasparino, fun stuff. enjoy the segments. getting ready for the carrier event, president-elect, vice president-elect, a lot of people say it is beneath a president-elect to make phone calls. just me, but it might be beneath not to. after this. >> i'm ashley webster on the floor of the new york stock exchange with your fox business brief. let's take a look

main reasons, that lloyd blankfein, ceo doesn't look like he is going anywhere for the next five yearsgary cohn had a meeting with trump, went very well, president-elect trump. he is in line for what we understand is a fairly significant economic policy post somewhere in the administration. there are lots of reports what he might get. i hasten to say he gets it until the press release. donald trump is known to change his mind last minute. three posts that are possibilities, i would say in descending order of likelihood. so the top is likelihood. national economic council, leading chairman of that. that is a pretty big job are or i would say energy secretary. gary cohn was commodities trader at goldman sachs for many years. lesser of those things would be omb chief. question a lot of people have what type of job is commensurate for guy ceo of a company. gary cohn is slated to be ceo of goldman at some point. he doesn't want to wait forever. people that know gary would he would like something bigger than that. would he go for omb? apparently someone else is slated for omb. i can't rememb

perhaps he was not necessarily considered to be any obvious or leading front runner to replace lloyd blankfeinit is interesting he'd be willing to take this role. it seems as more of an advocacy role, somebody who's a front-runner for the president's agenda and getting legislation through as opposed to somebody who's necessarily getting deep into, you know, economic and markets policy. >> yeah. again, we have no word from mr. cohn, of course, but that is interesting. have to admit. reading up on the national economic council. both of us, we're perhaps more familiar with the council of economic advisers. take a look at the markets as we send you to break. right near highs on everything. so what else is new? how's your mother? umm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. baird. >>> let's get a check on oil, send it over to jackie deangelis. >> heading into the weekend, we're seeing oil p

goldman sachs once the heir apparent to lloyd blankfein has been named donald trump's chief tall dutchicy advisor. -- policy advisor. news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries, i am nejra cehic. francine: stocks higher this morning. let's head to mark barton at the terminal for your asset check. are rising led by media and bank stocks, the highs since january. the best-performing, unicredit, the italian lender, shares up 9%. they are planning to sell off bad loans and slash costs. a return on tangible equity above 9% as part of the street year -- three-year strategy to shed another six and a half thousand jobs as they aim for 1.7 billion euros of annual cost savings. shares this year, 53% lower. economic stabilization holding in china in november, offering more room to switch focus away from stimulus toward curbing natural risks. industrial production, the blue line, climbing 6.2% versus the earlier in november. the estimate was for 6.1%. 10.8% lasts up month, that is the white line. fixed investment assets increasing. bloomberg's

ad whered trump did an he specifically targeted lloyd blankfein and said how terrible they are.mp to win all along? had answers for you. i'm surprised, as well as a lot of our viewers and listeners are. i think some of it has to do with the fact that a lot of trump supporters are not that closely monitoring who his appointments are. i don't know, but my suspicion came off of a conversation with somebody in d.c. who has been watching this pretty closely. , ifpoint he made to me was the goldman guys at the top of administration created jobs, brings manufacturing back, nobody will care that they were goldman guys. they just want their economic livelihood restored and brought back. so you have a president-elect who is making appointments and serve the holiday season, may the people who voted for him who really got behind trump are not watching closely. come january and february, the rubber will hit the road and they will see, we have a couple of goldman guys, trump was railing against these guys. let's see what they can do for me. reporter, i cannot think of anyone more ingrained wi

. >> we can say lloyd blankfein came up with a great way to make money, but again, i'm stuck with thejustify it. >> all right. jim, don't move. >> i'm sorry to be hot, but i'm listening to the guy and i'm saying, hey, let him get away -- let everybody get away with everything. what the heck. it's all fake news. we know you're allowed to have fake news. they validated fake news. so, i mean, so what? look, orrwell had it dead right. >> he did. >> he was a visionary. >> yeah, good group. thanks, jim. see you in about four minutes. >>> when we return, an upgrade for wholesale retail. your stock to watch after the break. this car is traveling over 200 miles per hour. to win, every millisecond matters. both on the track and thousands of miles away. with the help of at&t, red bull racing can share critical information about every inch of the car from virtually anywhere. brakes are getting warm. confirmed, daniel you need to cool your brakes. understood, brake bias back 2 clicks. giving them the agility to have speed & precision. because no one knows & like at&t. a winter weather emergency...

david: we shouldn't forget that donald trump blamed the campaign -- he named lloyd blankfein as parthat this is a long tradition. does this mainly tell us that donald trump will be more mainstream than we thought? hard to know exactly if donald trump could ever be described as mainstream. but it is somewhat comforting, if you thought donald trump is going to be blowing up the world. it is somewhat comforting that he has people from goldman sachs around him, who have, let's face it, fortunes to protect, who are much more sober, who understand capital markets. these are deal guys. wilbur sachs is a deal guy, steve edition is a deal guy. these are not the traditional wall street ceos; it's not like having an old line bank or. steve minutia is a deal guy. that is what donald trump wants to surround himself with. the goldman sachs is back, whether gary cohn ends up and be a ministration were not. david: what they both echoed some time ago -- cohn is the ceo today. what would it mean to goldman if he came out? who runs it? >> look, like has been there for 10 years, and gary has been waitin

extraordinary talent, but you are right, we are a long way from running ads that are showing lloyd blankfeinone not getting a position in the administration. >> house speaker paul ryan and mcconnell support an investigation into the hack, and any foreign intervention in our elections is entirely unacceptable and any intervention by russia is especially problematic because russia has been an aggressor that consistently undermines american interests, and senator mcconnell said, defies belief that somehow republicans in the senate are reluctant to either review russian tactics or ignore them. >> the russians are not our friends. invaded crimea, and senator mccain and i and some of our democratic friends met with the delegation from the baltic countries just this past week to say that they are nervous about the russians, to put it mildly, and the senate intelligence committee is more than capable of conducting a complete review of this matter. senator schumer will soon join us on the committee and he can review this matter through the regular order. i think we ought to approach all of these issu

also the issue of whether or not lloyd blankfein will choose multiple executives to replace cohn. therefore the bank, which is on a tear, the election. meantime, it is time for the bloomberg business flash. the u.s. government is using information from barclays, j.p. morgan chase, and citigroup to expand its currency probe. the banks have cooperated to actions indence of the spot markets. deutsche bank could opt for a merger, according to a report, citing the head of investment banking for europe, africa, and the middle east. he also dismissed speculation about the banks possible withdrawal from the u.s. market. executives defended withdrawal from the obamacare health care exchange in testimony today. told the judge that the company should have exited all of the affordable care act marketplaces because the program is not economically viable. the withdrawal came after the government sued insurers to block the merger. that is your business flash update. the selloff in treasuries extends to a third day as oils rose. treasury on 10-year bonds rose to 2% for the first time since 2014.