mark: from bloomberg world headquarters in your, i am mark crumpton. this is "bottom line," the intersection of business and economics with a main street perspective. to our viewers here in the united states and to those of you joining us from around the world, welcome your it we have full coverage of the stocks and stories making headlines on this monday. we begin with greece racing against the clock again three days before the european central bank's next decision on emergency aid. greece and its creditors concluded four days of talks. people familiar with discussions tell bloomberg that although some progress has it made, both sides are still far from an agreement. the greek government is still opposed to cutting pensions or raising the sales tax. still, officials they greece should have enough cash to make a $223 million payment this week to the international monetary fund. john glover joins me now on the phone from london. thanks for your time. how we view described the atmosphere of the talks? john: i was not present at the meeting, but it has be

mark: anybody? >> marco rubio mark: mark: -- mark: what is appealing about him?> he is more left than most republicans. mark: does anybody have anything positive to say about jeb bush? >> is that a joke? [laughter] mark: why do you say that? >> we don't need any more bushes in the white house. mark: do any of you want hillary clinton elected? >> she has competition but she is crushing them right now. mark: does anybody worry about her chances of winning? >> maybe get a little more competition -- more of a race. mark: does anybody else share his wish on that to get ready? >> i think bernie sanders will surprise people. you will have a bigger voice than people give him credit. or mark: why du think for? . r. mark: why du thinkdo you think that? >> i like his policies and he answers the questions. mark: do you like them to take more progressive positions? >> yeah. mark: will it take an effect? >> she has to lead more to the left now. mark: is it anymore to the liking of hillary clinton? you would like it more if he could be the nominee? >> oh, yeah. we have a citize

we will discuss that. ♪ ♪ mark: welcome back. i am mark barton.fore markets in the u.s. today. they will be listening on options and a return plan to take over time warner cable. that fell through last month. israeli said they found no evidence and movements of the dollar. the currency rose or fell ahead of the free monetary announcement this year. the next rda is tomorrow. the conference will feature david einhorn and bill ackman. let's get you of the top stories. we are three days away from the u.k. election and the results could change britain's relationship with europe. joining us now is a policy analyst. a very good morning to you. you say there will be -- it will be of defining election in relation to the eu. one but assume that of labor prevails labor being anti-referendum, it is the status quote. let's look at the labor scenario first. what happens if labor cobbles together some sort of government? guest: there would not be any referendum in 2017. this is not likely in the next parliament. in the sense of the policy, they are similar to th

mark: thank you.op stories this hour -- six chinese citizens have been indicted in charges of stealing mobile phone technology is from two companies in the u.s. and sharing it with our own government. the charges represent the u.s. government's latest efforts to pressure beijing to stop the alleged widespreading trade secrets. taktataata fell in tokyo trading after agreeing to the largest u.s. recall in u.s. history. they recalled about 34 million vehicles. they agreed to submit airbag parts to the u.s. government testing. investigators continue to search for the root cause of the defect. it has killed at least six people. whoshares are down 7.6 percent on reports the iris and considering a rule change that might complicate efforts for alibiaba. it could affect yahoos 's existing plans in this chinese e-commerce giant. you can find more on the story at bloomberg.com/europe. manus: join the conversation on twitter. we are both there. i can only presume the ubs story will begin taking on a life of its o

mark: from bloomberg world headquarters in new york, this is "bottom line" and i'm mark crumpton. to our viewers here in the united states and to those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines on this thursday. let's begin with a look at the jobs market. the labor department reported u.s. jobless claims under the lowest levels in 18 years. the small business sector is contributing to that strength. it creates two out of every three new jobs in the u.s. each year. maria contreras-sweet is the administrator of the u.s. small business administration. she joins me in studio. good to see you again. the april employment report is out tomorrow. what role does or should small business have in job creation in this country? >> right now we are experiencing small businesses creating two out of every three and that jobs and employment half of the workforce. they are contributing to this 61 months of consecutive job growth them have experienced in the country. cory: you are traveling --mark: you are traveling the country

mark: that is a lot.s anybody that is running for the republican nomination that you find appealing? [laughter] >> no. >> no. >> not at all. mark: anybody? >> marco rubio does have some good use. mark: what is appealing about him? >> a lot of the social programs would be better. he is more left than most republicans. mark: does anybody have anything positive to say about jeb bush? >> is that a joke? [laughter] mark: why do you say that? >> we don't need any more bushes in the white house. mark: hillary does not have much stiff condition. do any of you want hillary clinton elected? >> she doesn't have much competition. mark: does anybody worry about her chances of winning? >> i would like to see elizabeth or joe biden in there, maybe to get more of a race. mark: does anybody else share bill's wish to get a tougher contest? >> i think bernie sanders will surprise people. he will have a bigger voice than he has been given credit for. mark: tell me why you think that. >> i personally like his policies. i like

mark: yeah.mily: do you have a better idea now? when will this become profitable? mark: no, i do not have a better idea. [laughs] i mean, the reality is just that if a lot of people cannot afford to pay for data access in some of these places, then they are probably are not big ad markets and it probably is not a place where it is going to be particularly profitable in the near term. in fact, we will probably lose a bunch of money just because supporting facebook as a service and storing the photos and content that people want to share costs money. we will probably not offset it by making much. emily: you said connectivity is a human right. mark: mm-hmm. emily: you want to do good things. mark: mm-hmm. emily: if that is the case, why not give access to the complete internet? why just a few specific apps? mark: so it comes down to the economics of how this works. it turns out that most of the internet is consumed by rich media, especially videos. whereas, if you look at things like text -- so text

mark: i'm mark halperin. john: and i'm john heilemann. and with all due respect to barack obama, let us know when you finally get around to joining friends are -- friendster. mark: happy national strawberries and cream day. on our very own stage, a midwest sized story, a funny thing happened on the way to the nomination, and the music man. but first, oklahoma. we just got word that hillary clinton is making her official announcement on june 13. but 'tis the season of the , republican summit. today, the southern republican leadership conference in oklahoma city. jeb bush, marco rubio, ted cruz, rick perry, you get the idea. today, scott walker spoke first. he delivered a new argument for why he is different. >> there are a lot of great people think about the race on the republican side. there are some people, some of those folks, particularly folks in washington who are fighting the good fight, waving the flag. but they haven't won a whole lot of victories. then there are other folks that have done an effective job of winning elections, a

mark: i'm not that surprised.hey get to keep the trophy because the league let them get away with this. all of the other teams were silent. it is ridiculous in a league that has some credibility problems. john: obviously they will not give the trophy back. it is the case that the super bowl victory but always be tainted. there always be a question. nobody knows -- they will always think of this super bowl as the one where the cheaters one. mark: the patriots cheated better than the other teams and a leak should be shamed for not punishing them. this investigation could have taken two minutes. they wanted, and they will keep it. john: this is a blight on tom brady's reputation. mark: a pioneer, jim wright, who represented ft. worth for 34 years and became the speaker of the united states house and died in a nursing home. he was a distinguished world war ii veteran and also the first speaker to be forced out of office and the circumstances were not pretty. he was charged with ethics violation, including taking gifts

mark: i mark halperin. john: and i'm john halloween. with all due respect hillary clinton, it's great to hear your voice. she speaks. after 40,000 minutes, hillary clinton looked at the press today in cedar falls, iowa. she gave answers. there's no time to spare. let's go toward big while of hillary answers. number one, her state department e-mails. the state department propose they would all come out at once in january. today, federal judge said no, they have to come out on a rolling basis starting sooner than that. the question for hillary, do you want them out sooner or later? hillary clinton: i have said repeatedly, i want those e-mails out. no one has a bigger interest than i do. i respect the state department they had their process they do for everybody. but anything they might do to expedite that process, i heartily support. john: let's be fair to secretary clinton. this is out of her hands. she gave to the state department and they have the control of the e-mails. did she help her cause politically today with this answer are not

mark: i mark halperin. john b: and i'm john heilemann. ♪ mark: happy national strawberries and cream day sports fans. on our very own off-broadway stage a midwest side story, i funny thing happened on the way to the nomination, and "the music man." but first, oklahoma. we just got word that hillary clinton is making her first official announcement on june 13. tuesday season of the republican summit. today, the southern republican leadership conference in oklahoma city. jeb bush, mark -- marco rubio rick perry, you get the idea. today, scott walker spoke first. he delivered a new argument for why he is different from the rest. scott walker: there are a lot of great people that think about the race on the republican side. there are some people some of those folks, particularly folks in the washington area who are fighting for the good fight, waving the flag. but they have not won a whole lot of victories. there are other folks who have done an effective job at winning elections read a lot of them are friends

it was a charge florence's husband mark adamantly denied. >> people that knew mark said mark was not killer. mark would not do that. that he loved flo, that he loved his family, that he would not do anything like that. >> mark had no criminal history, and his children said they heard nothing suspicious on the night of the incident, no argument or fight between their mother and father. mark continued to maintain his wife's death was a tragic accident. but florence's family believed this was murder, and that mark was her killer. >> method, opportunity, motive, no alibi, and last person to see them alive. classic reasons for murder. he had them all. constipated? .yea dulcolax tablets can cause cramps but not phillips. it has magnesium and works more naturally than stimulant laxatives. for gentle cramp free relief of occasional constipation that works! mmm mmm live the regular life. ♪ expected wait time: 55 minutes. your call is important to us. thank you for your patience. waiter! vo: in the nation, we know how it feels when you aren't treated like a priority. we do things differently.

jay: thanks, mark.rk: after the break, toys from "frozen" are the gift that keeps on giving, when "bottom line" continues in just a minute. ♪ mark: welcome back to "bottom line." let's get you to some of the top stories we are following. the islamic state is taking credit for the shootings in texas, and they threaten more attacks. two gunman opened fire outside a contest of cartoons featuring the prophet mohammed. the police returned fire, security guards, killing the one min. agents had reported elton simpson talking about fighting nonbelievers for all of -- allah. and my cup of the announces he is running for president, his second run. he wasted no time jumping into the debate on the iranian nuclear talks. mr. huckabee: and let there be no doubt, israel will know, as will the whole world, that they are our trusted friend, and the ayatollahs of iran will know that hell will freeze over before they get a nuclear weapon. mark: huckabee is the sixth republican candidate in the 2016 republican race. the u.

mark: we all had the same reaction to this poll. there's a geewhiz quality to a five-way tie for first, but it's not just a tie, but the front runners are at 10, a level of support which is pretty low. one bad day could put one guy down to five, and a good day could put them in the lead. al: yeah, it could, and this is not the kind of poll that discourages george pataki or anyone else from getting in this race. they all barely break double figures. you are not going to say you do not want to get in this race because you're not going to win. if you start at one, you only have to get 10 more. mark: most of the candidates are spending the bulk of their time with paid media, and i don't know that paid media will do much. this is a race that will not have a front runner until after iowa at the earliest. al: i totally agree. debates may start to shape it a bit, may knock a few people out, a few people up, but it's going to be iowa and new hampshire. mark: george pataki not discouraged from getting it, even though he's only registering at

mark: happy overseas election day. to make our british viewers feel comfortable, we are doing the show in english tonight. first, the polls just closed across the pond. without wasting any time, let's go to london where francine lacqua can give us an update on the election. the polls closed, what do we know? francine: the exit polls have been accurate, and we have the tories possibly with 316 seats. if this were to be true, they may be able to actually form a minority government. this is a very uncertain election. if these figures are true, we may be onto something quicker than expected. mark: many thanks. don't take off your mic, because will be coming back to you. we are here in des moines. behind me is mission control at the des moines register who were covering the caucus process. that is where the whole thing gets made. carly fiorina has been spending part of her day here. she attended a des moines editorial boards and we will have more on that later. john: the iowa republican party says it is cutting charges to c

mark takai: absolutely. the reason i know the date is that is our anniversary date and every year, you have to have the many hours of her and mine is coming up, so i am working hard to make sure it is a good year. host: you are on the armed services committee. what would you like to see accomplished? rep. mark takai: we spent the first apple you're months working on the bill otherwise known as the national defense authorization act, and it is a hard -- it is a tough measure because it is all inclusive, but at the same time, you work hard on it the first of four months. you get it done, and then we can move on to other things. we were proud to have introduced 29 amendments, of which 28 past, so we felt like we were pretty successful. host: do you think your time in the military. the ear of other members of the armed services committee because of that? rep. mark takai: i hope so. i sit next to another veteran. in terms of the freshman crass -- class, there are a number of veterans on the democratic and republi

mark: and i am mark halperin. ♪ mark: we have democrats, but first "the wall street journal."illary clinton's staff could -- kept tight rein on records, and speaking engagements also withheld, and freedom of information rests continually routed through staff. john, is this story and incremental development or seismic? john: it is either incrementally seismic or seismically incremental. it is important, and it is before -- important because he gets to something we have known for a while. they now tie in someone who is with the clintons in that story. mark: it with a real target on cheryl mills' back and there are people at the state department who were clearly unhappy with how they were treated and cheryl mills and hillary clinton did a lot of political things in the preservation of things, and this might have been stuck that would have escaped attention, and it will now get attention. john: how they view this story has kind of gone back and forth. this story, not helpful at all. mark: it seems like these sources are not political. john: i will michael jackson's this one and mo

mark: and i am mark halperin. with all due respect to the late-night hosts, it will be impossible to fill david letterman's shoes. ♪ mark: on the show tonight, mary matalin throws some shade. plus, we will unveil a look at our focus groups -- the ohio democrats, -- iowa democrats but first, the wall street journal. here is a headline that hit brooklyn in the gut. hillary clinton's staff kept a tight rein on records, and keystone pipeline records were held back. bill clinton's speaking engagements were also withheld and freedom of information act requests continually routed through staff. john, is this story an incremental or seismic development? john: it is either incrementally seismic or seismically incremental. it has not radically changed the context, but it is important and it is important because it gets to something we have known for a while. the state department has been the worst at responding to employee requests. they now tie in someone who is with the clintons in that story. mark: it was a real target o

mark: stay with us.cuss with us what you think ahead of the election when we had to the polls. mark: we will focus on the pound which george mentioned. he talked about sterling volatility. it is the bart chart. jumping to a multiyear high. stay with us. ♪ mark: sterling volatility jumps to multiyear highs. we are looking at implied volatility, which is a measure of anticipated price. in this case we're looking at one week volatility on the pound versus the dollar. with only two days to go before the general election here, sterling volunteer -- volatility against the dollar has written -- risen to its highest level. that is the white circle in the middle of the chart. we have passed those levels. i have circled it in white which clearly illustrates the uncertainty surrounding this -- the time of this scottish referendum last autumn. the record two-week volatility is at almost of -- at a five-year high. what about one month volatility? the middle chart is a measure of anticipated [inaudible] over this one

mark: how can you tell? mark: john:john: you can tell it when you see it.here is a past history that he has. people are looking at him in a more careful way. i think it has a threatening tone to it. mark: i am for kicking people off if they are abusive. but kicking someone off for language that others would not be kicked off for is a dangerous place to be in terms of content police. john: coming up, a secret trial in iran. in a washington trial your chief -- a washington bureau chief facing challenges at home. ♪ mark: today was the first day of the trial in a iran. jason has been imprisoned by the iranians for more than a 300 days after security forces took him from gunpoint from his home. the charges, in typical iranian fashion, are nebulous. we don't know what the state is using as evidence in the trial because proceedings are closed. he has been living for seven years in a run at the most. -- as a journalist. joining us is his brother, who is a spokesman for the family. you have learned to be a reporter like her brother through all of this. what, if anyt

mark: with all due respect to sepp blatter, you can count on our support for the right price. ♪ mark:n the show tonight, the music man -- bernie sanders faces the music and the ed gillespie musical. the latest news from the indictment of haster. he allegedly paid a younger male hush money to conceal sexual misconduct that occurred during his time with the high school wrestler coach in illinois. not much new being reported today. lots of unanswered questions. where is this story going next? john: i think it is rapidly going towards the ways where we know everything it actually occurred. we know something about the timing from the indictment. it is important to know that what he is accused of took place after he took office. he was not engaging in the activities during speaker of the house. the activity goes years before that and we will find out what we wanted to know and didn't want to know after this. mark: a lot of people are talking about the human tragedy involving hastert and this other person. it is what the people know and when did they know it will get a lot of attention regar

mark: she's gone, i'm back. ♪ mark: welcome back to the bloomberg market day dime mark crumpton in new thank you first in with us. let's get you to the top stories we are following at this hour. the latest on greece. the eu commissioner for economic affairs says talks are "certainly not three quarters of the way. we need to work day and night." germany and france delivered a message to greece, it's time to get serious. a group of finance ministers have lined up to reject greek claims that a deal is near on freeing up bailout money. once again today, the greek government says there will be an agreement soon. greece needs the money to back a loan to the imf that is due next week. yeley connoisseur robert schiller warns the greek crisis must be solved. >> it could lead to a story that is very destabilizing. the original greek story should not have involved italy and portugal and spain. the ecb agrees with mr. schiller. it says euro area oh bond yields could rise. the top u.s. and iranian diplomats plan to meet this weekend in switzerland. in an effort to reach a nuclear and the iranian fo

i am mark crumpton here with scarlet fu. scarlet: tgif. mark: yes, it is.ave been trying to make our way back to the unchanged line. haven't gotten there yet. if you look aea

mark: thank you.rom washington on how the administration plans to stop the momentum of isis after it seized the key iraqi city of ramadi. ♪ mark: welcome back. islamic state fighters appeared to beginning momentum. today they seized parts of an ancient town in central syria. that follows the capture of the iraqi provincial capital of ramadi, which is only 60 miles from baghdad. u.s. airstrikes hit islamic state targets and ramadi today, according to a u.s. official. joining me from washington is our foreign-policy respondent. how is the administration reacting to recent gains by isis? indira: they are obviously taking it very seriously with the fall of ramadi and also palmyra. over the weekend, they had that important special forces raid in syria in which they killed and supposedly captured documents related to a man who has been referred to as an oil minister for isis. so they are expecting to really find out a lot about the group's finances through those documents. at the same time, we had briefings

mark: in? emily: in one year. mark: thank you. emily: which is more than all three founders of twitter combined. mark: yes. that is true. emily: since twitter started, by the way. mark: i really think the stock in the company should be rebalanced. [laughter] emily: we are going to reference some of your tweets throughout this conversation, and i wanted to start with this one, given the anniversary of netscape. this is true, when i came to silicon valley in 1994, i thought i had missed all the opportunity, fun, and excitement. it felt post-apocalyptic. when did you realize you were wrong? mark: it really took the internet taking off. silicon valley had been on fire in the late 1970's and 1980's with the pc, and with software, with companies like oracle taking off, and microsoft, adobe, and apple, and all these local companies. and then the valley crashed really hard in the late 1980's. what i learned is, the talent, the latent talent, the number of people in the valley who were talented and qualified and skilled, who had been throu

is that enough to move the fed office mark -- off its mark? doug: absolutely.ed the markets if they did not move around 2015. most of the chatter is about when. where do you come down on the dual mandate? no other central bank has a dual mandate? they stay focused on inflation and that the policymakers worry about the job side of it. doug: there is a lot to be said for an inflation mandate. same thing.ing the looking at inflation below their target, keeping monetary policy roughly where -- mark: define the federal reserve where it stands right now. doug: doves. the more hawkish fed would have started moving already. there is nothing about a target funds rate of 75 basis points that would change was going on right now. mark: how is this economy going to regroup? getis this economy going to the sustained momentum that it needs to get off that meager growth rate? doug: it's not going to do it on monetary policy. monetary policy is phenomenal for stopping the fall. we've been doing that for over half a decade. when you to pull some of the other levers. we have $100

mark: he also does bring rigor on these issues. he brings -- he would have elevated the discussion. i will say, though it means other people may not end up running. the field might be smaller. john: on -- if i am anyone of the governors that does not have a lot of foreign-policy expertise, i'm glad he's not the race. he knows more about national security and these hot spots around the world than scott walker does, then marco rubio does then rand paul does, th an bobby jindal does. mark: i think there will be people looking to get his support. he has built up something of a following and is a good foreign-policy advisor. john: it was the best of times and the worst of times for everyone who has a eight in the clinton cash chronicles. -- who has a stake in the clinton cash chronicles. harper connell -- harpercollins had it wrong when it came to pass stuff. he made the clinton foundation, including when he interviewed the author on george's show sunday this week. who got a bigger scout, the fans of clinton cash, or the critics? john:

mark: i mark halperin. john: if you want to be part of the bill simmons anymore, you are too late. mark: love doing the show in film. liberty money, and something key foreman would be proud of. first, getting pumped up for the south carolina freedom summit. scott walker, marco rubio, rick perry, and donald trump. and more. mark, you will be there in group will be streaming the action on bloomberg politics.com. who am when i cast of stars was the most out of line? mark: the guy i am watching his marco rubio. his team is underrated. it is one of the strongest teams any candidate has put together. rubio might end up being a better cultural fit in a political force in south carolina then new hampshire and iowa. john: i would have said marco rubio would be my call, but i like to disagree with you. today, i will choose scott walker because right now, if he had to pick a front runner just based on polling, scott walker is two of the head of the field. you can see marco rubio coming up fast. all are has not had a big moment in weeks. he has to try to re-seize the momentum or he will see hi

mark: i like michael bolton. it's a lot of the stuff that was on the show last night, plus the simpsons. once again, jeb bush. for the fourth day in a row, he gave an answer about the invasion of iraq. as they say in kennebunkport the fourth time is a charm. jeb bush: knowing now what we know, what would you have done i would not have gone into iraq. that is not to say that the world is safer because saddam hussein is gone. it is significantly safer. that is not to say there was a courageous effort to create stability in iraq. all of that is true. that is not to say that the men and women who have served and went to iraq, they did so honorably. but we have answered the question. going forward, what is the role of america going forward? john: does that answer put to rest the flap? no. he made a concerted effort, but let's just pause on the horrific nature of the performance there. the chippiness at the beginning and the obvious irritation. not handling it in a cool, calm, collected way. and the second thing he all

mark: next question. we will take a question from our friend, a fill in the blank question -- >> when i was a kid i wanted to grow up to be -- nickel back skinny. mark: were you skinny ad -- nicolle: skinny. mark: were you skinny as a kid? nicolle: no. i wanted to be a reporter. john: you went to northwestern a great school. go from one side to the other side? from light to dark? nicolle: when i was 25 and went to work jeb bush. i got hooked again when i had the opportunity to work for his brother in the white house. i saw his brother that day. mike mccurry said to me republicans treat their jobs in politics like a year abroad. they work for a short time and then go back to the economy and make millions. democrats stay in public service. it is our end, it is not a means to an end. that is like a grudge match with mike mccurry, i'm going to stay longer than he did. i stayed six years. john: we have one last question coming from the loveliest, much to charming, most charismatic, and most vicious of your fri

mark: yeah. emily: do you have a better idea now? when will this become profitable? mark: no, i don't have a better idea. i mean, the reality is just that if a lot of people cannot afford to pay for data access in some of these places, then they're probably are not big ad markets and it probably isn't a place where it's going to be particularly profitable in the near term. in fact, we will probably lose a bunch of money just because supporting facebook as a service and storing the photos and content that people want to share costs money. we will probably not offset it by making much. emily: you said connectivity is a human right. mark: mm-hmm. emily: you want to do good things. mark: mm-hmm. emily: if that is the case, why not give access to the complete internet? why just a few specific apps? mark: so it comes down to the economics of how this works. it turns out that most of the internet is consumed by rich media, especially videos. whereas, if you look at things like text -- so text messages,

mark: i want to close. talk more about your heritage and ask you whether or not you have an affinity for or connection to anything part of your cuban past. do have your favorite cuban food? senator cruz: i grew up eating cuban food all the time. picadillo. i grew up eating all the time. we had planned haynes, -- plan tains, beans and rice. for christmas, we would roast a whole pig for christmas eve. my abuelo and abuela, did not speaking english. mark: do you have a favorite cuban singer? senator cruz: i tend to listen to country music more than cuban music. mark: on the political front what is your aspiration for the republican presidential nominee in 2016? what percentage of the hispanic vote will they get? senator cruz: if you look at who has been hurt under the obama economy, the hispanic community has been hammered. it is far worse off. the rich are doing great under the obama economy. but the most vulnerable -- young people, hispanic, african american, single moms, their lives have gotten harder and h

mark: one more on the money he needs.huckabee: i will be funded and fueled not by the billionaires, but by working people across america who will find out that $15 and $25 a month contributions can take us from hope to higher ground. [applause] mike huckabee: rest assured, if you want to give $1 million, please do it. [laughter] but, i know most of you cannot. mark: we both know the guy is not that comfortable talking about money. i thought that was one of the most awkward parts of the speech. john: he once said he felt more comfortable -- if he went into a room with rich people, he felt more kinship with the waiters than the people. that is huge. he does not like talking to rich people and they don't necessarily like him either. he has talked a big game. $25 million -- we don't know where he is right now. mark: he will not get huge funders. will he have sugar daddies? we don't know. today's speech has positioned himself very well. i will say because he has run before and his speaking skills he needs less than almost ever

mark: thank you so much.hicago is facing a financial storm. the windy city's credit rating has been cut to junk as it faces unfunded engine liabilities. ken rahm emanuel save the city from going bankrupt? joining us from chicago, tim johnson. -- tim jones. $20 billion. mark: how did it get to that point? got to that point by basically deciding not to pay annual pension payments for several years and it just cap building and building. you had the crash in 2008 and investments took a hit and now they are at $20 million. betty: that is a huge number, tim. is it raising the sort of worries that may be chicago might be heading in the way of bankruptcy?. tim: i don't think there's that much talk about bankruptcy per se but when you put the two cities side-by-side, there are differences visually. chicago is a much more diverse economy. you scratch beneath the surface and see the financial underpinnings and there are some scary analogies to detroit. the issue here is probably not going to be resolved by a bankruptcy

♪ mark: welcome back to "bloomberg market day." i'm mark crumpton.te has rounding up and killing of enemies in ramadi. the militants seized the city two days ago. victims bodies are being thrown into the euphrates river. the united nations says 25,000 people have fled. will be tsarnaev allowed to speak during the hearing where he will be formally sentenced to death. a judge in boston is expected to schedule a hearing today. a federal jury voted in favor of executing the boston marathon bomber. his appeals process could last at least a decade. has chargedtates six chinese citizens with stealing mobile phone technology that can be used for military purposes. prosecutors say the suspects sold -- stole technology from two us-based companies. one of the suspects was arrested saturday in los angeles after a flight from china. prosecutors say two of those who have been charged met while studying in the u.s.. regulators in south africa say they are investigating currency trading. standard chartered bank is among 11 organizations cited today by the country's

i'm sure you knew that, mark. [laughter] mark: if i was around them. elliott: this guy lemma is of dilemma wants to help persuade greece to make more compromises needed to reach a bailout. it doesn't want to push them over the edge. and it doesn't want to stymie the ability to pay the loan. it is dayue after the finance meetings in brussels. the ecb is waiting. caroline: we do have that all-important meeting on monday. what are we encroaching on? elliott: the lead wants to give politics a chance. if there are talks of progress if they are about to make compromises or reach an agreement, the european central bank -- if they seem to be further apart than ever, and the ability to increase the amount of collateral they demand, it is about 23%. the greek banks need to get emergency liquidity assistance. the ecb was even looking at 90%, which would be consistent with those greek assets being in default. it is quite -- mark: you did say that benjamin netanyahu would form a new government. it was not a given, but you were right. it is very rare i give you cred