mr. goldman, i would like to read you a quote of emily jane fox who for the record is out ahead of this story on friday night when others turn out. thap had it wrong. here's the headline. did they think i was just going roll over and die? two people familiar with cohen's thinking believe that trump's lawyers decided to waive privilege to under cut cohen who could have used the possession of the material as a bargains chip to cut a deal with prosecutors. cohen has not met with the government, but suggested it may be open in a recent interview with george stephanopoulos. giuliani said while he did not leak it, he was glad it got out. let's go there. this theory that if the other side has the ability to expose some of the weapons cohen has in his box of weapons, they will diminish his value as a potential flipping target for the feds. you don't want other witnesses to know what your evidence is so they will tailor or redirect the testimony according to what they think the evidence is. the cooperation is helpful in explaining the recordings. if that's what they are trying to do, it's a fool's err

mr. goldman. >> good morning, supervisors. and thank you for making some very needed amendments to help improve the tax measure. my name is david goldman and i'm the president of the san francisco chapter of the cannibas policy oriented club. i think that the amendments that you have made are good but i think that it needs to go further. there needs to be a way to exempt cultivators who have medical licenses, manufacturers, testers and distributors who have medical licenses from taxation. because, clearly, what will happen is that the taxes they pay will will be passed down to patients. patients are being taxed enough. since july 1st, our tax rate has gone up 50% prior to 2018. and all it has done is to led to many of my friends in the medical cannibas community going back to the black market. they got sticker shock when there was a 15% increase on january 1st and there was a 35% increase for cultivation and testing fees on july 1st. that's 50% plus the sales tax is nearly 59%. adding this extra tax, even indirectly, will event

mr. goldman, i would like to read you a quote from emily john fox from vanity fair who was out ahead of thetory on friday night, when others turned out to have it wrong. here's the headline, did they think i was just going to roll over and die? two people familiar with cohen's thinking believe that trump's lawyers decided to waive privilege to under cut cohen, who have could used the exclusive possession of the material as a barrigaining chip. he had suggested he may be open to the possibility in a recent interview, giuliani told me, this is the writer speaking, while he did not leak it, he was glad it got out. so, let's go there, this theory that if they, if the other sides that ability to expose some of the weapons cohen has in his box of weapons, they will diminish his value ask a potential flipping target for the feds? >> it's a entirely -- premise. >> all right had. -- all right. >> the evidence is what the evidence is, whether the government gets it sooner rather than later. there's some truth to the fact that it's better for the prosecution that as little evidence or information abou

john: would goldman have worked -- mr. micklethwait: would goldman have worked better if it was an old-style partnership? mr. blankfein: maybe parts of our business. it is not sending we can cry about and wring our hands. we could not have stayed public with who we were in the financial system. we could have elected -- the way the world evil, we -- evolved, we started out as an advisor. but in order to be an effective advisor, you had to be able to get the fact to the advice you are getting. so i can tell you you should do this merger. i could tell you you can do this financing. i can tell you you can grow your business this way. but to be an effective advisor, i had to put capital on the table for you or your benefit or help you raise it so you could achieve that objective that you and i would agree was our good advice. if we were merely advice givers, we could have had a very important role in the system. there are a lot of great investment bank boutiques. they do very well. they don't have 90% of the problems or issues i

mr. goldman, made the following statement to chris cuomo on cnn regarding you, his client. "on fox news they talk about him as the center of this anti-trump cabal that was going to throw the election against trump. none of this has a shred of truth." do you agree with it? >> i do. >> in the u.s.a. today, your lawyer said regarding the russia investigation, the russia collusion investigation, that you and your team "went out of their way to prevent leaks and actively ensured that news reports did not overplay the seriousness of the investigation." is that true, sir? >> yes. >> tell us why it's so important to prevent leaks from the fbi to journalists and others? >> leaks are terrible. they undercut things in a variety of ways. they can upend investigations and lead to incorrect assumptions and let witnesses though near being investigated. destruction of evidence, disclosure of classified anything. number of bad adverse things. >> got it. the doj ig's report has this to say about your involvement in the decision to involve congress about the wiener laptop "strzok said to get

mr. goldman, i want to start with you on kind of the legal conjectures here. i mean there are many theories as to why mr. cohen is doing what he is doing now. what in your view is the most plausible explanation? >> i really just think it's simply a pr blitz. i think michael cohen has been run through the wringer for the last several months and i think that he's had to be quiet. he's not someone who generally likes to be quiet, as some of those recordings that came out in recent weeks indicate. he's a brash, somewhat crass and can be threatening person. he's a big personality. and he's really been trashed over the last couple of weeks. he's talked for months about his concern about his family. that is always something that witness watchers, defendant watchers should pay close attention to because that is often the clue to whether someone is going to cooperate. but the biggest thing to me that stuck out from this interview was the fact that when he hires his new attorney, guy petrillo who was the chief of the criminal division in the southern district of new yor

mr. goldman, made the following statement to chris cuomo on cnn regarding you, his client. on fox news they talk about him as the center of this anti-trump kabal that was determined to throw the election against trump. none of this has a shred of truth. do you agree with this statement, sir? >> i do. >> and in a june 19th op-ed in "usa today" your lawyer said regarding the russia investigation, what we call the russi russia collusion investigation, that you and your team went out of your way to prevent leaking and actively ensured that news reports did not overplay the seriousness of the investigation. is that true, sir? >> yes. >> now, tell us why it's so important to prevent leaks from the fbi to journalists or to others? >> leaks are terrible. they undercut things in a variety of ways. they can up-end investigations, they can lead to incorrect assumptions, they can let witnesses, subjects know that they're being investigated, they can lead to wild speculation, destruction of evidence, disclosure of classified information, any number of really bad, adverse things. >> got

blankfein formally announced in a call with managing directors that he will be replaced by goldman president david solomon mr solomon's promotion had been widely expected since he became goldman's only president in march but there is no word yet on when he will formally take over . and the retail sales numbers are out for june and they rose by half a percent the figures represent spending and us stores and their websites and restaurants at the same time the may figures were adjusted upwards by half a percent from point eight percent to one point three percent and here's a look at retail details and what it what it is is well if so are most she's the c.e.o. of the stock swoosh welcome melissa we always love having you and just when we thought that things may be looking not so great these new numbers come out and the may numbers were revised upward what's your take melissa. yeah i think that was really probably part of the boost you've seen in the last couple days the rally in the market a lot of these stocks have just been a rallying rallying rallying to amazon came out with a prime day this week so there was

blankfein formally announced in a call with managing directors that he will be replaced by goldman president david solomon mr solomons promotion had been widely expected since he became goldman's only president in march but there is no word yet on when he will form. really take over. and the retail sales numbers are out for june and they rose by half a percent the figures represent spending in u.s. stores and their websites and restaurants at the same time the maze figures were adjusted upwards by half a percent from point eight percent to one point three percent and here's a look at retail details and what it what it is is well so are most she's the c.e.o. of the stock swoosh welcome melissa we always love having you and just when we thought that things may be looking not so great these new numbers come out and the may numbers were revised upward what's your take melissa yeah i think that was really probably part of the boost you've seen in the last couple days the rally in the market a lot of these stocks have just been a rally rally rally and amazon came out with a prime day this week so there was a lot o

mr. goldman, made the following statement to chris cuomo on cnn regarding you, his client. on fox news, they talk about him as a center of this anti-trump kabul that was determined to throw the election against trump. none of this has a shred of truth. do you agree with this statement, sir? >> i do. >>ane june 19th op-ed in usa today, your lawyer said regarding the russia investigation, what we call the russia collusion investigation, that you and your team quote/unquote went out of their way to prevent leaks and actively insured that news reports did not overplay the seriousness of the investigation. is that true, sir? >> yes. >> now, tell us why it's so important to prevent leaks from the fbi to journalists or to others. >> leaks are terrible. they undercut things in a variety of ways. they can upend investigations. they can lead to incorrect assumptions. they can let witnesses know they'ir being investigated. they can lead to the destruction of evidence, any number of bad things. any number of really bad adverse things. >> got it. the doj ig's report had this to say abou

mr. goldman made the following statement to cnn regarding you his client on fox news they talk about him as the center of this antitrump -- that was determined to throw the election against trump. none of this has a shred of truth. do you agree with this statement, sir? >> i do. >> and in a june 19th op-ed in usa today, your lawyer said regarding the russia investigation, what we call the russia collusion investigation, that you and your team quote unquote went out of their way to prevent leaks and actively ensured that news reports did not overplay the seriousness of the investigation. is that true, sir? >> yes. >> now, tell us why it's so important to prevent leaks from the fbi to journalists or to others. >> leaks are terrible. they undercut things in a variety of ways. they can up end investigations. they can lead to incorrect assumptions. they can let witnesses subjects know that they are being investigated. they can lead to wild speculation, destruction of evidence, any number of really bad -- disclosure of classified information, any number of really bad adverse things. >> got it.

goldman's future. thank you so much. we note is good to be mr. solomon, right? ll have all on goldman sachs earnings. stay with us through those important announcements today. right now, first word news. taylor: both democrats and republicans have condemned president trump's remarks with vladimir putin about the helsinki summit. called theicans president's performance shameful, disgraceful, and weak. u.s. authorities have charged a russian national with trying to establish a back channel with american politicians during the last election cycle. prosecutors accused her of with the nraotiate on behalf of the russian government. they say she tried to create a quiet line of litigation between the u.s. and russian officials. the ceo of the world's largest asset manager says a trade war could lead to a market downturn. tockrock's larry fink spoke erik schatzker. >> if we have a true trade war, we will see the markets down 10% to 15%. erik: you would not call this a trade war? >> we will see what happens in the next $200 billion proposal that the u.s. does with china. t

mr. solomon will be running goldman sachs in the very near future. >> there are reports of succession atan before in march and lloyd quickly responded with a tweet saying it's the wsj's announcements not mine i feel li . >> i think he reads it more. >> i did speak to david solomon in late april. i talked about how he was changing his responsibilities as president and potentially preparing, of course, for stepping into the ceo role here is what he said. >> any responsibilities any board has. we have a very, very deep team, broad bench. i'm in the president job for 15 months so over the course of 15 months, i've had a chance to spend more time on areas in the firm where i had hadn't as much exposure over the course of the last ten years where i was running the banking business i think that process is an ongoing process, and, you know, the board and lloyd's decision is to how the succession will play out. >> aparentally we'parently we'rg closer. >> look at the "new york times," maybe it happens. >> dow is almost flat here down two points. we'll get to bob >> reporter: good morning. happy mo

mr. micklethwait: do you think the politics is much harder than business? i mean, all of these people from goldman went into the white house. it was almost like the house of lords for ex-goldman employees. friends of yours did that. now they have come back. do you look at those kinds of decisions they made, people like merkel and trump, and think they are much harder than the decisions business people have to make? mr. blankfein: sunday's i do things out of the public eye, some days i do things in the public eye. again, when i watch the punditry, you know, it is all right -- look, again, what we are watching now is heart rendering. again, i would not be on that side. thank god i am not there, because in my role and certainly in government, we have to make these choices. look, it is never right against wrong, good against evil. the issues are always right against right. what do you want to do? both sides are right. you admit millions of people into germany, what happens? the european construct that worked for 60, 70 years, which arguably ended a pattern of every generation warfare, that is put at r

mr. brown, for that stress test they connected this year, in which goldman family came up short but were allowed to pay out dividends and powell said that was under the rules and they did not do anything wrong and part of the problem was the to bill and it forced him change some financial accounting and that affected results. he said banks are well capitalized and in good shape. a keys point, it looks satisfied most of the critics on capitol hill without doing anything to upset financial markets. shery: that criticism coming from the democrats was expected, but people on wall street are wondering what he would say or if you would give any clues when they came to yield inversion. did we get any sense of where he stands and where the economy could go if the 2/10 spread inverts? michael: not really. the fed is following the yield curve, as always, and there was a debate at the fed as to why this doing it. somethink it is technical, think it is the insatiable foreign demand for u.s. treasuries that pushes down on the long end. powell did not offer explanations from his point of view but said

. >> goldman seemed to be the most restricted i found that curious mr. servative shop and didn't deserve that. that should have been more open. should have said, listen, he can run with it. goldman sachs played it closer i think goldman tries to get exactly as much capital and no more as you need versus say jpmorgan, david, which has so much capital and bank of america. largest bank. >> we're asked to show you video of harvey wieinstein, of course, one of the more powerful people in hollywood he's pleading not guilty to three new charges. these are in addition in the previous indictment from the 30th and you can see him there in handcuffs being lead away. >> david, the segue to whatever but the rally in faang is breathtaking, david. it's breath taking >> yeah. >> alphabet taking off facebook for no particular reason there's nothing new in facebook. >> it's a one-way story. every so often there's a week or two everybody wants to say suddenly it's over and it's going to slow. >> this is a summer rally. >> it's back to it, jim. >> it seems like the sellers a

i think goldman sachs actually was able to produce a pretty incredible quarter through trade. >> okay. go ahead, joe. >> i will answer that. i had that debate with mr brown a while back i said morgan stanley, which to date proves to be correct. i agree with you i think at this point going forward, it's goldman sachs, and it is because you will eventually see the return of volatility >> okay. stephanie, dennis. >> i hope you're right >> dennis in michigan. dennis in michigan would like to know your thoughts about applied materials. >> it's cheap. both lamb research and applied materials are very cheap there's concerns about kind of the cycle. the cycle peaking. i think you have to get through the next two quarters for the story to work, but i do think the valuation, there's support there. to be in it, be patient. >> all right good stuff send your questions to us, please do that we.c/hfte.omalim 're back right after this. [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event. directv gives you more for your thing. if you've been waiting for a sign to quit c

blankfein formally announced in a call with managing directors that he will be replaced by goldman president david solomon mr solomons promotion had been widely expected since he became goldman's only president in march but there is no word yet on when he will formally take over . and the retail sales numbers are out for june and they rose by half a percent the figures represent spending in u.s. stores and their websites and restaurants at the same time the may figures were adjusted upwards by half a percent from point eight percent to one point three percent and here's a look at retail details and what it what it is is well so are most she's the c.e.o. of the stock swoosh welcome melissa we always love having you and just when we thought that things may be looking not so great these new numbers come out and the may numbers were revised upward. what's your take melissa. yeah i think that was really probably part of the boost you've seen in the last couple days the rally in the market a lot of these stocks have just been a rallying rally rallying to amazon came out with a prime day this week so there was a lo

terrorist groups is to make sure that iraq a goldman today iraq and forces are able to prevent dawlish from coming back. to the lady from. georgian t.v. news recession mr secretary general can you expect that there will be another super eight declination in the end of for some you to both georgia and what can you say about who saw some of declination which was published a few minutes ago what it says singh knew about georgia thank you. well we are planning a new declaration all. together with with georgia. new can read the declaration when they publish it but but if we will in the text version of course i reiterate i was strong support to georgia our political support or practical support and welcome. both the nato allies are now providing more support in different ways to georgia with a training center to capacity building efforts supporting their reforms but also recognize the significant progress georgia is making and a fight that georgia is contributing to many nato missions and operations i can be i can say more about this when we have published or agreed to. the statement tomorrow b s s b. james holmes from british rule says t.v. and radio search

mr. poe. next speaker, please. >> good evening, commissioners. thank you very much for the opportunity to speak. my name is rick goldman. i've lived at 230 states and lived there for the past 11 years. this is in the corona heights district. many in support have not been involved with all the work that we've done to put into getting the corona heights special use district involved and they have not had to endure the months and months work without permit, work beyond the scope of permits, and inaccurate plans that neighbors have been inundated with for three years. obviously, some of these neighbors -- supporters do not come from the neighborhood when they say parking is a problem on states street. we live at 230, very close to 214. we let very upset if we cannot park in front of our house. it's one of the areas where parking is not a problem. at the december 14 conditional use hearing, the project sponsor and again today described how he wants to live there at his home. -- as his home. the sponsors created an l.l.c. which is common for this project called 214 states street l.l.c., however i want to point out they have b

because of your action, morgan stanley, goldman, sachs investors took home about $5 billion more than they otherwise would have that's a nice gift to the bank, mr. chairman on top of that, the fed also proposed a rule in april that would make the stress test less severe effectively reducing capital requirements at the 8 largest banks by a total of 54 billion according to a goldman, sachs analysis so chairman powell, by your own account the economy is doing well we all know bank profits are gigantic banks got huge tax breaks. three fed presidents have suggested it is an ideal time to raise capital requirements, to strengthen banks, instead of siphoning off cash to shareholders, so why is the fed under your leadership persistently seeking to reduce capital requirements and weaken stress tests >> with respect, senator, we're not doing either of those things in fact, the stress test in 2018 was more stressful, amount of loss and capital to pass was the highest by far of any test. >> you know, look, i don't know what to say. the fdic doesn't see it that way. goldman, sachs doesn't see it that way, the data don't seem to back you up on this. the feds

mr. mueller, is widely respected for his integrity and nothing rudy giuliani says is going to affect his search for the facts. >> daniel goldmananel all here with us again. betsy, let me start with you. what is the most significant part of what lanny davis says in this interview? he said effectively, this is his declaration of independence, that he's a freem man at this point. >> that's right. he said michael cohen has become a new person, he's reinvented or imagined himself. that's a big deal. this is lanny davis doubling down on the eye popping comments michael cohen made last week shortly before the 4th of july to george stephanopoulous. that was a scripted choreographed interview. it was deliberate. it was essentially a poke in the eyeballs of donald trump. cohen went out of his way to say he supports of the fbi, the mueller probe is behaving aboveboard, not engaging in bad activity. this is lanny davis pushing forward that narrative and highlighting the fact that michael cohen is no longer whatsoever a loyal foot soldier to the president, but actually quite 9 the opposite. >> the question is what michael cohen has on dona

because of your action, morgan stanley and goldman sachs' investors took home about $5 billion more than they otherwise would have. that's a nice gift to the bank, mr. chairman. on top of that, the fed also proposed a rule in april that would make the stress tests less severe. effectively reducing capital requirements at the eight largest banks by a total of about $54 billion according to a goldman sachs analysis. so chairman powell, by your own account, the economy is doing well, we all know that bank profits are gigantic. the banks just got huge tax breaks. three fed presidents, president rosengr rosengren and president nester said it is a time to raise capital requirements and to strengthen the banks and to syphon off cash to fed holders. so why is the fed under your leadership persistently looking to weaken the stress tests? >> with respect, senator, we're not doing either of those things. in fact, the stress tests that in 2018 was the early more stressful, the amount of the loss and the amount of required capital to pass the test was the highest by far of any test. >> look, i don't know what to say. the fdic doesn't see it that way. goldman sa

goldman sachs. >> director comey. >> the greatest businessman in the world, carl icahn. >> amoroso is a nice person. >> general mike flynn. >> you know sean spicer. >> i like mr> reince is really a star. >> secretary price is behind me. >> we're really at a point where we're getting close to having the cabinet and other things that i want. olay ultra moisture body wash gives skin the moisture it needs and keeps it there longer with lock-in moisture technology skin is petal smooth after all, a cleanser's just a cleanser unless it's olay. after a scratch so small rocket you could fix it with a pen. how about using that pen to sign up for new insurance instead? for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. ♪ liberty. liberty. liberty. liberty. ♪ >>> we'd like to know if there is any factual basis for the investigation originally or they've developed one. that investigation is highly suspect. >>> has there ever been an investigation of this magnitude with such obvious indications of extreme disgusting bias which totally corrupts the process? >> that was president trump's personal attorney rudy giuli