mr. chairman. >> dr. fleming. mr. fleming: thank you, gentlemen. i've listened to your testimony. it's all very interesting and informative. let me ask you this. have all throw of you worked within the obama administration? i believe you have. and i listened intently as, as you in particular, mr. morrell outlined eloquently how the current state of the islamic world is an apocalyptic sort of view coming out of their religious studies, out of the koran. many believe that if you're an infidel if you're not a believer, you should be put to death and there will be a messianic figure to come and kind of rule over the world. i guess my question is, have you had these conversations with our president? >> i'd say that there's not much that i say here today that my former organization hasn't shared with the president of the united states. mr. fleming: would you say the same? the reason why i ask that question is because the american people, i think, just listening through the media, reading newspapers, agree with what you have to say. but our president seems to think that it's merely a coi

mr. fleming, did seem to prompt his decision to depart the company. again, and his unit will now be shared, if you will, in terms of the people who run it between two people. shelly o'connor and andy sapperstein will take over the management of wealth amendmen-- management. mr. gorman in the job for time to come and firmly entrenched as the president and in the likely event something happens to gorman, you have someone to take over. and that next generation, of dan simco witz and the ceo to be potential candidates when the day does arrive that mr. gorman steps down. back to you. >> david, it is karen. let me ask you something. is this any indication of the grand strategy of margan stanley to be in the wealth management business or is it a power struggle in morgan stanley? >> i think it is more to personal decisions. the board wanted a president. they wanted mr. gorman to stay on. not that he was going anywhere any way. and when that was shared with mr. fleming, he decided, he is 52 and he wants to be the ceo of a public company and it was clear it won

mr. fleming actually kicked the window, shattered it and then pulled the woman out from safety which her car was smoking. >> he picked her up and took her right out. >> like she was a rag doll. >> reporter: the humble linebacker took off before police arrived. fleming's story however wasn't without controversy. with some on social media ubting his story at first. soon after, fleming tweeted out people are so quick to try to bring you down. so sad. despite his injury, fleming was on the playing field two days after t t heroic rescue playing against the chiefs. the woman he rescued says she's just so thankful and describes >> in terms of like the burping vehicle, the doors were locked completely. i could not get out myself. the battery died. and i tried to manually open all the locks andi could not get out myself. the battery died. and i tried to manually open all the locks and i tried to kick >>> amazing. >>> the news at 6:00 is next. >>> police thousand on the hunt for a pair of lady thieves who drugged and robbed two men they met at a bar. >>> new dtail after video of a woman attacking

mr. fleming still saw an opportunity being his roughly six years younger.learly not going to be the case. kelleher not seen as an heir apparent in any way. the board does now have its number two, in case something should occur to mr. gorman, not that we're in any way suggesting it will. but you need to know what your backup plan is. now they have a generation of leaders from which to pick perhaps for the future. but that future could be many years away. none of those guys seem like they're going to be giving up the reins. >> we'll see about his next chapter. we know him well around these parts. wish him all the best. thanks a lot, david. >> sure thing. >> we have a news alert on tim cook to get to now. seema mody joins us. >> that's right. apple ceo tim cook's executive compensation for 2015, $10.3 million up from $9.2 million in 2014. that according to an s.e.c. filing. remember, shares of apple losing over 5% of the year of 2015. back to you. >> what do you think? >> i think it's a bargain. i don't think there's a lot more than tim cook could have done. i

mr. fleming: i thank my friend, chris smith, for all of the areas of this. not just domestically but around the world. mr. speaker, i thank my good friend for everything he has provided to us. children are a joy to every mother and father. my wife and i share this joy both as parents and grand parents. as a matter of fact, i have seen all three of my grandchildren through ultrasound before they were born very early ingesttation, watched them move and watched them suck their thumbs. i fell in love with each and every one of them. if i can love them before they are born, god loves them before they are born. . fact, in jeremiah 1 5 says we were formed in our own mother's womb. children including developing babies, life within a mother are endowed by our creator with the same unalienable rights as you and i have. life, liberty and the pursuit of happiness. good public policy will reflect this understanding and protect the lives of the unborn. those who are today's children and tomorrow's leaders. mr. speaker as we approach the anniversary of a devastating 1973 u

mr. fleming will work at smaller broker-dealers to do the business. going again? >> don't call them shadow banks, it's the private sector. nonbanks are the private sector we should encourage them. tom: when i look at the banking what is the restructuring you see this year? is this the tip of the iceberg? shifts is a fundamental in the largest institutions globally. they are all getting into that business because they can, the larger thanks and the big have tove shops re-rationalize their operations because regulators are forcing them to. true in: this is very the european banks. you mentioned ubs and credit suisse retrenching to go after the asian customers. it will be overcrowded. >> it is, there's only so much business. if you are running one of these cost is first and second is where you get revenue year. francine: in terms of u.s. versus europe versus the u.k. versus asia, it seems the best of value is still in u.s. banks. >> i think so, our capital markets are thankfully very robust. we had a record year for issuance in 2015. we will probably see

mr. fleming: i thank my friend, chris smith, for all of the areas of this. not just domestically but around the world. mr. speaker, i thank my good friend for everything he has provided to us. children are a joy to every mother and father. my wife and i share this joy both as parents and grand parents. as a matter of fact, i have seen all three of my grandchildren through ultrasound before they were born very early ingesttation, watched them move and watched them suck their thumbs. i fell in love with each and every one of them. if i can love them before they are born, god loves them before they are born. . fact, in jeremiah 1 5 says we were formed in our own mother's womb. children including developing babies, life within a mother are endowed by our creator with the same unalienable rights as you and i have. life, liberty and the pursuit of happiness. good public policy will reflect this understanding and protect the lives of the unborn. those who are today's children and tomorrow's leaders. mr. speaker as we approach the anniversary of a devastating 1973 u

mention on morgan stanley, only a week or two away from that big change at the top with greg fleming leaving, and mrgorman will stay in the ceo position for at least another five to seven years. >> doing a good job. wealth management doing a good job. instead i see layoffs. i'm worried about layoffs now. not recession, i'm worried about a slowdown. when j & j lays off people -- >> 3,000 people. >> when potash lays off people. bank of america is hiring people. bank of america no longer looks like the old bank of america. i could argue it's cheap. i'm saying that cheap is not a catalyst. looking at csx this weekend and norfolk southern. norfolk southern, there was a bid, maybe it was -- it was at 93. have you seen where norfolk southern is, it's 71. >> have you seen where canadian pacific is? the proposed bidder. >> we'll get unp this week. >> that's not pretty. the rails have been in a recession. >> this has been bear market. delta reported a number today that was a good quarter. they do say that revenue, the average seat mile will be down. huge windfall in oil. i like delta. delta will earn -- it's

mr. chairman. >> thank you. dr. fleming. >> that you, gentlemen. i've listened to your testimony. it's all very interesting and informative. have all three of you worked within the obama administration? >> i have. >> i believe you have. >> yes, sir. >> and i listened intently, and you in particular, mr. morell, as you outlined eloquently how the current state of the islamic world is an apocalyptic sort of view out of their religious studies, out of the koran. many believe if you're an infidel, if you're not a believer, you should be put to death, and there will be a mess yannick figure to come and rule over the world. my question is, have you had these conversations with our president? >> sir, i would say that there's not much that i've said here today all of this. i've also heard you articulate, very importantly, how non-islamists, ourselves, we don't have quite the credibility to say, guys, you know, these beliefs are not consistent with peace, the koran, and are not consistent with how we should live together in this world, you really need to turn away from this philosophy. we