mr. goldman, when mr. doyle asked you about the amendment, i noticed you said it is superior for ability think it is acceptable, something you would like to see passed into law? .. two hold not to mention her ekg investigation. things are taking place. this legislation said. >> it would be except it will now. >> the issue we do clarify in my personal opinion is that our job to do that if we know there's a bum we don't need to see what a court decision is going to do a quick and clarify that ourselves. is there anything we can do now that you would find acceptable that would address the problem we should rate on the court. >> the whole reason why you are here as you are in a position to take it an edge of you have to solve the problems you see. i think that the best call us to let the existing law in 2015 play out. if we are going to pursue legislation like you said modesto congress does. the two principles i mentioned will be the guiding principles for how i would consider legislation be acceptable. >> the

mr. rubenstein: so you left goldman sachs and started your own financial services company.one of the companies you bought was indymac. that was controversial at times. why was it controversial? when you were confirmed, people ask you a lot about it. sec. mnuchin: so, i was sitting in my office in new york during the summer of 2008, watching tv, all the news. this was kind of the middle of the crisis and indymac -- literally there were people lined up around the block time to get their money out. this was a real bank run. we had not had a bank run in a very long time. indymac was one of the only deals -- the fdic actually had to take it over and operate the bank. most of the ways the fdic took over banks is they would take it over friday night, sell it on friday night, open up for business on monday. indymac was a highly problematic bank. it had specialized in no-doc loans. their mortgage portfolio had 30% delete lindsay's -- delinq uincies. even during the financial crisis, it was hard to originate loans that were that bad. the only reason i was able to buy it and put toget

mr. rubenstein: so you left goldman sachs and started your own financial services company. you bought indymac. why was it controversial when you are confirmed? so, i was sitting in my office in new york during the summer of 2008 watching tv. this was in the middle of the crisis. indymac, there were people lined up around the block trying to get their money out. this was a real thank run. we had not had a bank run in this country in a long. of time. of the onlyone deals the fdic had to take it over and operate the bank. mostly they would take it over friday night, sell it on friday night, open up for business on monday. indymac was a highly problematic bank. in no doccialized loans. their mortgage portfolio had 30% doing with these. even the financial crisis, it was hard to originate loans that were that bad. the only reason i was able to buy it and put together an investment group was no real bank wanted to buy it. it had every problematic loan. construction loans, home builder loans, a big portfolio of reverse mortgages. up, but thecleaned reason it was controversial was b

mr. solomon at goldman sachs. ed: that wine tasting with david solomon, we could do that.nbelievable. david solomon has this guy who worked for him over 80 period of time. -- a period of time. alix: eight years. ed: he was sneaking wind out of the enormous collection, taking it from the department in new york to the hamptons, and he would ferret a body -- bottle away for himself. the burgundy he was taking, the cells for tens of thousand dollars, and he was selling it , and an alias mark miller he was caught and is facing a federal charge. david: a very sophisticated assistant. i am not sure i would know which bottles to take. alix: if that is your job, i would hope you would know. david: was that his job? ed: here is a fascinating conspiracy theory. goldman had a bad day yesterday, and the story hit yesterday, and this is what everyone is talking about. eclipse the bad result -- it clips the bad result. alix: kind of like david solomon and the tax. david: a renewed push for a cbs-viacom merger, that is what i am watching. alix: i am looking at morgan stanley, up in premar

mr hammond and mr davis will remind germany its firms need access to london's financial markets. the bosses of barclays, insurance giant aviva and goldmanachs international are thought to be among up to 15 top finance chiefs meeting prime minister theresa may later. she will be trying to reassure them the uk will remain a vibrant financial sector after brexit. there will be tough talks ahead. the eu's chief negotiator, michel barnier, has been clear britain cannot cherry—pick which benefits of eu membership to keep, and there will be no special deal for its financial sector. it is a concern echoed by the head of the german—british chamber of commerce, who spoke to the bbc late on wednesday. i think they're trying to get the best deal for britain. whether they will succeed remains to be seen, because from the german government's point of view, and also from the european union's point of view, yes, of course individual deals might help individual businesses. but for germany and the eu, it's also important that the single market remains intact, and therefore it will be difficult to negotiate bespoke deals. as we recall, just a few months a

goldman sachs had a sell. that pushed valiant down and pushed tim seymour out mr. ful is now in the seat if he didn't have a beef with goldman before, he does know >> what was amazing, yesterday, the two -- the difference between them was minuscule because of that news or the thinking that there could be a deal between them, which pushed that stock higher yesterday, and then, today, mr. wonderful is getting a smack in the head because of the apple action. it's really -- >> a lot of head smacking. >> a lot of head smacking. will be a really close horse race into the stock draft. countdown is on. >> 13% move for your buddy in one day. >> see more of him on fast money at 5:00 p.m. see what i did there >> clever. thank you, michelle, see you tomorrow >> see you tomorrow. >> "closing bell" starting now ♪ >>> welcome to this closing bell, i'm kelly evans. >> we have a new musical director dow is up 181 points, down 103, and nearly 300 point swing, now back 42. we start on the floor with a recap of the seesaw action today. court? >> yes, the major averages have taken a jag

mr hammond and mr davis will remind germany its firms need access to london's financial markets. the bosses of barclays, insurance giant aviva and goldmanhs international are thought to be among up to 15 top finance chiefs meeting prime minister theresa may later. she will be trying to reassure them the uk will remain a vibrant financial sector after brexit. there will be tough talks ahead. the eu's chief negotiator, michel barnier, has been clear britain cannot cherry—pick which benefits of eu membership to keep and there will be no special deal for its financial sector. soa so a pretty busy day when it comes to brexit. i'm joined by the lawyer miriam gonzalez, who specialises in international trade and government regulation at the law firm dechert llp. nice to see you, good morning. what are you expecting to be achieved to date? if we start with bill hader and david davis in germany, in germany right now they are pretty busy trying to form a government if nothing else. —— if we start with philip hammond. they have detected there is a lack of emphasis from the other side of the business, the european business groups, and i think that i

goldman sachs and morgan stanley. they are all going to add into this melee of discussion. mr.-- will he be as effusive as the dutch and the spanish are in regards to potentially a soft brexit? me personally, thinks not. let's take a look at your risk radar this morning. this is what we have got coming in stocks belting it out through rise. of 2%. make a cpi this is the shift in gears we have got. shift has dropped for eight days in a row, dropping by $1 trillion over the first eight trading session. kuroda repricing dollar-yen. nikkei is rising. you have a strengthening in the yen. you have the nikkei continuing to rise. this is a thing of beauty. whether you are long sterling or not -- vote, we areit seeing the strongest level on cable. how horrible is cable -- vulnerable is cable to german rhetoric? the luxenberg prime minister end to binary thinking. the market however has raised its long positions on the pound the 25th ofsince august, 2015. we were all too overexcited on the pound. currencies is driven by the softness in the dollar. you are looking at the index dropping ne

mrs. g up top we are looking at jpmorgan citigroup, along with bank of america. in white, we have goldmanldman sachs is underperforming, trading business last year was very difficult. when you see a big difference in performance, the other banks up more than 20% in the last year. goldman sachs just 6%, it may suggest some ketchup potential. something to keep -- some catch-up potential. something to look at. julia: up next we ask bob new delhi about general electric. they stock up more than 6.5% in the first week trading days of this year. turn things around after an abysmal 2017. scarlet: they look forward at the dow today. from new york, this is bloomberg. ♪ ♪ this is "bloomberg markets." i'm scarlet fu. julia: i'm julia chatterley. we are back with bob, the founder of accelerate. he is also the former ceo of chrysler, and ge power systems. ge is where we want to turn our focus. they are plunging 45% last year for the worst performance in the dow. it is the biggest gainer today, getting excited about that before the quick break we took. bob talk to us about ge? are you surprised about th

erik schatzker will sit down with goldman sachs ceo lloyd fine fine -- lloyd blankfein. we will see what mrankfein has to say about the global economy and about trump policies. live from new york, this is bloomberg. ♪ david: the ecb did not announce any change in monetary policy a few minutes ago but what will mario draghi say about the rapid rise of the euro? christine lagarde want some clarity on u.s. dollar policy. mnuchin secretary steve says he has been clear and consistent. we will hear from lloyd blankfein in just a few minutes. daybreak onloomberg this thursday, january 25. lisa: let's get you caught up on what's going on across the markets. we have been seeing a lot of green in the s&p 500 leading up to the open. earnings are coming out with caterpillar coming out with strong earnings and they beat on the fourth quarter and have pretty aggressive projections for the next year. biogen had a better than expected earnings projection. you have ford down. was up more than 3% in pretrade action. frankly, many people have been after the amazon purchase of whole foods. the revenue is going

big reversal in the bank stops because i think goldman is saying it's the worst in times they don't seem to know the narrative. >> mrchavez on the call. now that stock is down almost 3% after being relatively flat. >> 24% tax rate would be higher than we've heard from some of these other banks. >> he's not saying sell the stock, is he >> sell his own stock. >> but not necessarily -- maybe he's being honest. >> there you go again. you refuse to let the story override the facts that's what's so difficult about him. >> how important is it that we close higher today >> i don't think we can close higher because i think that the banks are the leaders. but, you know, maybe juno and amsl can do it but it's important that the sellers get washed out looking for companies like unh to survive the onslaught, ibm, those matter. >> and tonight >> i have the great developed the export market for natural gas. and then plunk is what you need to figure out all the data i continue to think the data and cloud is very strong i can't believe goldman. >> bank of america isn't far behind. >> goldman can pull everything down it's sort of lik

goldman sachs. good morning to both of you. >> good morning. >> i should mention that she told her story in the book "my underground american dream." mr. start with you. i explained how this really works versus how the president explains it. the president says people who come out of that figuretive bowl here are the worst of the worst. are they? do you agree? >> well, i submit that they're not. those comments are pretty offensive to on a personal level when you consider my mother and my father came here when i was 3 years old. my mother worked for 30 years cleaning offices for a third of her life, a stone throw away from trump tower. so my sis taeter and i can have education and be the first college graduates of our family. and here i am the mayor of a premier city in america. and i submit someone like my mother is not the worst of the worst. we need for people like her in america because that's really what makes our fabric wonderful nation. >> are you a republican, sir? >> yes, i am. >> you voted for the president? >> no, i did not. >> okay. tell me, from what you understand here, why is the president doing this? >> well, i think -- i

mr. eagleson coming on strong. theing us is jason kelly, executive editor for global television, and still with us isbeth brooke-marciniak, global vice chair of public policy at ey. we have to mention goldmanhave to talk about earnings. david: i said that it took out the tax effects, they had a beat, i apologize because i read it wrong. >> we will see, it looks like the market has not made up its mind yet. one thing that jumped out, i think it was mentioned before break, investment banking seems like the clear winner, i wonder if iit is a precursor to more ipos. it seems like a healthy part of the business. i am not sure if companies will get more active now that there is clarity on the tax side. >> certainty always matters and we see the biggest balanced growth. beth: this is balanced growth, all the g20 countries have seen growth for the first time in a long time, so there is a lot of growth around the world, and a lot of appetite. >> clearly goldman is in a great position. we have spent time with them over there and we know that they're chomping at the bit to do bigger deals. alix: they are like investment banks, come help us over here. [laughter] >> do not look at that fixed. alix: in