michael moore says this is a terrorist act and it's the faulty of republicans. that's a threat for anyone but perhaps michael moore. >> there is a lot of political receipt -- a lot of political rhetoric. no one thinks shootings up a planned the parenthood he equates'. i think what we have here is hijacking a political issue. obviously emotions run high. this is a complex, emotional issue for many people. but if you try to astein collective guilt to people who oh imroirts point of view is cynical. charles: we had a police officer who was killed, an iraq vet that was shot when he went back in to try to help. i hope that's not lost. >> i agree, and i agree with heather whether this should be considered a domestic terrorism issue. it's not domestic terrorism. we have a nut case who decided to go into plan the parenthood. but the problem i have with all of this, friday when this thing was going down, immediately the president makes a statement pertaining to gun control. this isn't about gun control. this is about a mental health case. immediately the politicians want

you so much, michael moore, who covers the banking here at bloomberg news.more is ahead on bloomberg markets. october was a great month for auto industries. ust do robust car sales tell about the overall health of economies. saidrow, chair yellen, it dudley, and vice chairman fisher, what are investors waiting to hear? plus, erik schatzker sitting down with the ceo to talk about all of the mergers in pharmaceuticals and the latest trend in the industry. ♪ good afternoon. time for a look at the biggest business stories in the news right now. of $600 million in alternative assets to reduce exposure to private equity funds according to people with knowledge of the matter. held by alio is subsidiary that manages employee post retirement plans. working with an advisor and a deal may be completed by the end of the year. he u.s. government is finding the corporation $79. the traffic safety and ministration will be able to add up to $130 million in penalty if it does not obey the term of a five-day yield. muchcould explode with too force, spewing shrapnel into passe

with what this means is michael moore. that deutsche bank been reactive on that front, as has credit suisse. but this is significant because the other u.s. banks have not done this yet. michael; a lot of the banks have cut over the last few years, study amount, and there were some big cuts in the 2009 and 2010. this is the next wave of the cuts. based on a view of a more -- the fixedurn income has been coming down over the last few years. morgan stanley, the executives have said we think it is going to come back. the question is how much will it come back? will it be the heyday of 2006, 2007? scarlet: ceo james gorman is consistent in the messaging. give us a sense of how much the fixed income business at morgan stanley has shrunk since gorman took over. michael: less than half the size in terms of revenue and the capital, and that is a big key part of it. even with higher revenues immediately after the crisis, the returns weren't there because new capital will require so much more capital in the business, so they are ente

kennedy: i was expecting michael moore in a hand to jump up on the table and start doing pub dancing. welcome back. hillary clinton has released her first can control act of promising to take on the gun lobby. >> this epidemic of gun violence knows no boundaries. between 88 and 90, two people a day are killed by guns. we are better than this. how many people have to die before we actually act? kennedy: meanwhile in a recent podcast meeting amy schumer went beyond the world of jokes to politics, gushing about how much she loves hillary clinton. >> if somebody cares that i support hillary clinton and that makes them not want to come and see me live, and good. she's honest and firing stuff off you were like a go she's about as you know. kennedy: she is so bad as. kristin hegland and andy leiby and michael moynihan. and i will ask you what is better old yeller or white amy schumer has become? sub five full disclosure in me is to be on red eye as a regular kennedy: amy schumer is one of my favorites. andy: not to say that she owes her fame to me. she is one of the funniest people on the pl

here we have michael moore and guy moszkowski. how much pressure is there on compensation?es from firm to firm. broadly speaking, a lot of pressure. had not been as good a year, especially in extend come. fixed income uses a lot of capital. it also consumes a lot of personnel costs. if revenue is not there, the compensation pressure is there as well. deutsche is in a tough spot, as are some of the other european banks. credit squeeze as well. both have new ceos and are asking whether they really need to have as big a footprint. erik: given that european banks are so much further behind in rebuilding capital and raising it to higher levels, does it go without saying times will be tougher for employers of european banks than four people on wall street? guy: that is certainly a big part of it. fixed income is the focus. erik: fixed income. there is dispersion in what people will be paid because of the fact some businesses are doing poorly and some are still doing well, like investment banking. michael: yes. equity derivatives was very active. there are some bright spots. part

he's turning into a skinny michael moore at this point. he's in serious danger zone. >> so part of the thinking, at this table, i think everywhere is that he's under pressure, not just from the police unions, but from harvey weinstein. >> yeah. >> weinstein. >> and weinstein is distributing the film that's coming out in december, right? so weinstein company has a long-standing relationship, friendship with quentin and has a tremendous amount of respect for him as a filmmaker. we don't speak for tarantino, he should be allowed to speak for himself. jesse, what is wrong with that? >> that sounds like they're distancing themselves from tarantino. that sounds like he speaks for himself. we don't speak for quentin. >> they didn't want to go the step further and say that he's wrong. >> that's called a carefully crafted statement. >> here's stephen colbert. he took a break from making jokes to lend his support to the black lives matter movement. >> there's a lot of people talking about the use of excessive force by police, and without courting co

of course, you lived for the whole past year in south sudan which, i used to work for michael moore andhe uses it if it's happening in africa if not having of the u.s. media view things. it's just either starving children or barbaric tribal -- >> and other so many black people to add all of the same an immediate can't differentiate that while. >> sudan went through an incredible process where it split essentially in two, and i got media attention. but there is something much more interesting going on in sudan would look at western interest. and that is that you have in the east of africa come and adversely in the west of africa and north africa, what amounts to a proxy war between the united states in china. china was very early to get involved in sudan. at one point a controlled 40% of sudan's national petroleum organization. and the united states present in the east of africa is largely military. china's has a margin economic. you pointed out to me earlier that china has troops deployed, which i didn't know. china has 1500 or 1200 -- >> i think it's 1200 i think. >> lieu helmets worki

incentive to get the book here tonight and tell your friends about it also and -- i used to work for michael mooref it's happening in africa, it wasn't happening, how the u.s. media views things. either starving children or barbaric -- >> so many black people there, and they all look the same, and the media can't disrep shade that well. >> sudan went through an incredible process where it split essentially in two, and that got media attention. but there's something much more interesting going on in sudan when you look at western interests. and that is that you have in the east of africa, and increasingly the west and north of africa, what amounts to a proxy war between the united states and china. china was very early to get involved in sudan. at one point it controlled 40% of sudan's national petroleum organization. and the united states' presence in the east of africa is largely military. china's has been largely economic. you pointed out to me earlier tonight that china actually has troops deployed, which i didn't know. >> well -- >> but china has 1500 or 1200 -- >> i think it's 1200. >> -- blu

betty: michael moore, thank you so much.wo top asset managers are slashing costs on some of the extreme traded funds, getting us to a new level of fees. explain what this means for your money and your investments. ♪ julie: welcome back. this week, i shares and shrub cut their fees again on their inad market etf to just .03% what many are calling a fee war. for why that may not be the best term for it is eric balchunas. at least not a wholesale the war. explain what is going on. there is someone of a pricing war on etf's. >> that is a fair term but it is not just everywhere. powershares cut down 2.03%. you invest $10,000 into this etf, you get charged three dollars a year in fees. if attracts 2100 stocks. if you divide that, 700 stocks for one dollar. we are closing in on free etf's. schwab, immediately the next day, said we would cut 2.03, because we are determined to be the cheapest in the space. even though they are in the news, what is hovering over all of this is the vanguard affect. if you look in areas where vanguard d

we are joined by bloomberg news's michael moore, who covers the banking industry.akes sense, but what stood out to you about the report? michael: it is broadly reflecting the trends we have been seen. you were talking about valeant earlier. that is part of that. it has been tough for the distressed debt and high-yield. certainly, those are following the business trends, and one of the factors here is whether there is going to be a competitive bid, whether there will be anywhere to go next year , and how that factors in. that might be compressing pay. scarlet: remind us of the timeline because the big wall street banks start managing people's expectations for the bonus payout right about now at the end of the year. they get paychecks early next year, and that is when the great movement happens, when everyone changes jobs. michael: right. at the top, managers are formulating the broader pools -- this division gets this much. scarlet: how big a piece of the pie you will get. michael: they are breaking up the pie. they can always reorganize in december. december tends

joining us with more is michael moore who covers the banking industry.ally big one because the banks did not want to you about their dividend payments from the fed? >> right, they have been lobbying all summer over this. it is a decent amount of money. betty: how much are we talking about? >> a couple of hundred million, not a huge amount, but something you would like to hold onto. there was also a symbolic meaning that if we let washington take money from oz weather is fed dividends or something else, how long before a bank tax comes along? to pay for these type of transportation or infrastructure issues? they thought they needed to hold the line in terms of money taken from the banks. betty: how are they lobbying? did they just hire a bunch of lobbyists or did we see the bank ceos and go down and make please? ? >> we don't know if the bank ceos went down. there were no public issues on that. the banks have really stepped up their lobbying strength in the last few years. i have a major presence of their constantly meeting with lawmakers. this has been o

michael moore of bloomberg news.next, valeant's biggest problem -- it turns out the female libido boosting drug they launched is no viagra. what the company is saying today about it. --nce ripping up security as wrapping up security as french president francois hollande announces france's at what with the islamic state. we will take you lay -- to paris for the latest on the investigation. thus, france's second-biggest airline easyjet hits record profits for the second straight years. with people not showing up for flights following the pairs attack, will it hurt the bottom line? much more on bloomberg markets. ♪ good morning, and welcome back to bloomberg markets. it is time for the bloomberg business flash, a look at some of the biggest business stories in the news right now. for the first time in three months, factory output has risen. 4% incturing rose october, beating estimates, as factories made more cars and domestic materials. consumers are keeping the industry afloat. the stronger dollar and weaken global dem

volkswagen of america chief executive officer michael moore and took the stage at the l.a.w and apologize to customers and dealers. it is another makarova over the emissions scandal. the company will have a remedy for the most 500,000 cars sold in the u.s. involved in the scandal. and luck is turning in macau. new project will hand back an average return of 20% three years after opening. that is compared to an estimated 10% return from hotel groups out of hong kong. chinaors, including sands and galaxy entertainment group had earmarked $20 billion in spending in the region over the next three years. scarlet: time for our bloomberg quick take, where we provide context and back on on issues of interest. today, the focus is on you and currency controls. international monetary fund says the currencies traded widely enough to be considered a reserve currency, marking a huge milestone that some analysts estimate could trigger a $1 trillion which into chinese assets, but there is a long way to go in easing capital controls. here is the background. this chart that we have of the do

wondering if you've ever seen the documentary that michael moore made called "sicko.' he went around to all the westernized countries in the publicnd they all have health care. it seems to be working in france and england and canada, everywhere else it works. they don't have this problem. ourink the problem is health care system has turned into a wealth care system. it's more about making money than it is about making people healthy. do you have any thoughts on that? guest: i saw it a long time ago but i'm not a fan. this is a fundamental political debate that's been going on but as been shifting more toward right sector delivery. some people think the government should run these programs. people sit there and figure out what doctors should be paid. they run a giant centralized medicare system. they are wonderful people and do a great job. i don't think that works as well as regulating an insurance company and letting them figure it out. that's been the debate for the last 25 years. are you better off with a single-payer government entity which creates behavioral probl

wondering if you've ever seen the documentary that michael moore made called "sicko.'went around to all the westernized countries in the publicnd they all have health care. it seems to be working in france and england and canada, everywhere else it works. they don't have this problem. ourink the problem is health care system has turned into a wealth care system. it's more about making money than it is about making people healthy. do you have any thoughts on that? guest: i saw it a long time ago but i'm not a fan. this is a fundamental political debate that's been going on but as been shifting more toward right sector delivery. some people think the government should run these programs. people sit there and figure out what doctors should be paid. they run a giant centralized medicare system. they are wonderful people and do a great job. i don't think that works as well as regulating an insurance company and letting them figure it out. that's been the debate for the last 25 years. are you better off with a single-payer government entity which creates behavioral problems?

ken anderson got nine days, nine days for the years that michael moore spent in prison. he spent four or five of them. five of them. and there's one prosecutor i can't remember his name who spent one day. prosecutors don't prosecute other prosecutors. it doesn't happen. i just don't think it's a possibility. qualified immunity? i don't know. i'm glad, i'm so surprised to hear in the fourth second it's so easy to survive a motion for summary judgment in a qualified immunity case. we are firm, we are firm summary judgment for defendants in qualified immunity cases all the time. and what's more, and as judge wilkerson knows, if you file, if you see qualified imfunity, and you seek summary judgment on it and don't get it, you get an immediate appeal. nobody else in the federal system gets an appeal. but if you are subject to qualified immunity like a policeman or other officer you get an immediate appeal. so it's not like you have to wait to the end of trial to see whether that is done. so i think qualified imnunity is personally fine, and if prosecutors thought that being a

. >> when we come back, michael strahan and his new book. stay with us. meet the moore's! we're the moore family, and we're always looking for ways to enjoy more. so we called time warner cable and got even more than we expected. call now to get more. more speed. like, 300 meg. more tv shows and movies on demand. more places to make more unlimited calls. call now. for $89.99 a month, you'll get 100 meg ultra fast internet, hundreds of hd channels, and unlimited calling to international destinations. we find more good things every day! more ways to watch more shows. on more wifi connected devices in our house. time warner cable made switching easy with a one hour arrival window. they even made sure all of our connections were up and running before they left. why settle for less, when you can get more! call now. for a limited time, get a free trial of showtime for one year, and ask how you could get a $300 reward card. >> he's an overachiever by just about any standard, but the long list of accomplishments -- super bowl champ, nfl hall of famer, and emmy award-winning talk-s

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moore and the bucket and 13 points more, patriots down five. colgate too much. revaried knocks down the three. colgate wins its 66-63. >>> and third period, caps down, 2-0. michael l michael, his second career goal. worth another look as caps tied the game at 2. they head to three on three overtime with that equalizer. ot, three caps chasing and monahan beats blue bower. caps still get points in the standings. >>> we have high school football. can't forget about them. bowie undefeated forecast. a raic.j. rainy night. gets into the act. michael clarke number 6 of the pick 6. behind wofford. they beat bowie. >> and navy down right now florida. [ female announcer ] business travel isn't just about the going. it's also about the going home. and being connected all along the way. whether you're working or recharging, do business travel on your terms. acela. take off. >>> we'll be working throughout the night to bring you any updates from france. prosecutors just said eight attackers are dead, seven from suicide bombings. >> state of emergency and border checks are still in effect this hour. we'll have reports on "news4 today" starting at 6:00 a.m. >> we leave you ton

the authors that i'm thinking of are not just nonfiction authors, but lori moore or michael cunningham, tobias wolf, jim shepard, he has a tiny, slim book called project x that you should -- i mean, don't leave now. [laughter] we're all in the middle of talking, but then afterwards. maybe go pick it up. and i read to be moved when i'm not looking. i mean, i know it sounds -- i mean, you want to feel like you're in good hands with any author, there's a relationship of trust, but i also want to be laughing until the very end when i get kind of punched in the gut a little bit. >> i kind of read for the language. at the end of the day, if it doesn't sing somehow, if it's not leaping off the page, i'm going to find myself impatient. so for me even if there's the issue of translation that's in the way, the language has to go somewhere and to something particularly special or else i'm going to turn elsewhere. >> i'm reminded of my son was 2, i think, he had a favorite book, and, you know, i came into his room, and he had the book on the floor open, and he was trying to get his foot inside the