mr. jenkins appointment. he was the favorite to take over if it was going an inside pick. crucially he's had nothing to go the investment bank business. so, we understand here at cnbc what he'll do is launch a root and brand review of bar chris. he'll stabilize the bank then this root and branch review and then try to restore trust in the bank. wants to examine the cultures and practices. we understand the chairman elect, dave walker who is not taking over until november has been involved in the process because it's very important that new chairman and new ceo have established a working relationship. politically we understand this has been approved by both the treasury and bank of england. interventions which were crucial in bob diamond leaving barclays as well. this is interesting. pay package 1.7 million pounds. 250% salary enhancement inducement compare that to bob diamond who got around a 18 million pound package. so for politicians it's a safe pair of hands. whether he knows,000 navigate his way around the investment bank will be something people will say maybe that's

mr. jenkins: i thank the gentleman for yielding. tax reform may not be as exciting as watching a team u.s.a. win a gold medal but a c.p.a. who specialized in tax, comprehensive tax reform is olympics and we want to win a gold medal for the american taxpayers. our tax code is a disaster. at around 15,000 pages it's too long, too complicated, and it's chock-full of loopholes favoring some taxpayers at the expense of others. temporary tax provisions alone have increased from 14 in 1986 to 132 today. u.s. taxpayers and businesses spend . billion hours simply complying with the code. tax compliance as an industry is one of the country's largest, requiring 3.8 million workers. that's just too much. we need a code that is more fair, equitable, and efficient. we need to broaden the base, lower rates, and ignore special interest whose fight to block reform. reform that will save us billions of dollars and create a million jobs. our friends across the aisle believe increasing the top rate will restore fairness, but how can further complicatin

mr. jenkins and what is he going to bring to the table? joining us is kathryn. thank you for joining us. who is antony jenkins? he's always the favorite inside man to get the job. why do you think he's got it? >> i think he's got it because he's not associated with the investment banking side of the business which is where a lot of these scandals that have rocked barclays to the core in recent weeks have come from. he's been appointed and my source at barclays say he has a mandate to take a close look at what's gone wrong with the bank, how they can change, how they can restore trust in the bank's reputation. >> what's interesting about that, of course, he's as you say from the retail business side and what's gone wrong has gone wrong on the investment bank side. does he know his way around investment bank. can he fix it? >> that was one of the worries about whenever he first emerged as one of the leading candidates because i think there are a lot of concerns if an investment banking man can't spot where investment banking has gone wrong or can go wrong, what can