now we reach a point where he has, according to the nec, the party's structures, been admitted, but itt action keir starmer will take, because that decision was made by the nec, the national executive committee, under their procedures, rather than by keir starmer personally. he still has a chance to say, i am going to take a strong sedans and keep the whip withdrawn, but we have only so far had a tweet from keir starmer, and you now, he did acknowledge it was another difficult day for the jewish community, but he didn't take that opportunity to say what he would do. soi opportunity to say what he would do. so i think it could happen, but i think it is quite clear it is a bit ofa think it is quite clear it is a bit of a quandary for the new labour leader, and we could be in a situation where he upsets both sides. david, you are nodding. i mean, he is between a rock and a ha rd mean, he is between a rock and a hard place on this one, whichever decision he takes. for absolutely certain, he is between a rock and a harder place, and, you know, the telegraph story uses the word that there is

that process went through, through various stages, and an nec panel, a unanimous nec panel of five individualse is any dubiety, there are only two out of those five who could be described as corbyn supporters, yet it was a unanimous decision and now, for keir to have disregarded process and stepped in with this extraordinary decision, it looks to me very much like a witchhunt and persecution of a decent man. people can disagree with corbyn on a whole host of things but i think most people regard him as a decent, honest individual, and to be persecuted and witch—hunted in this way is not the labour party way of doing things. i would appeal to keir to try to resolve this. the british public do not like a divided party. i hope keir becomes our next prime minister, i genuinely do, but with a divided party that will never happen. and the other thing that the british public do not like is the persecution of an individual. so the whole situation needs to be resolved as quickly as possible. len mccluskey of the unite union. a doctor whose twins were delivered while she was in a coma with covid—19 says

casi por 300,000 votos, 65% de la tabulaciÓn y estamos ganando en wisconsin, no necesitamos todos, nec, pero me felicito, me felicito y me dijo, ¿quÉ estÁ ocurriendo? nunca visto nada semejante a esto, le dije nadie lo avisto asÍ, ganamos por 700,000 votos por 81% la votaciÓn en michigan asÍ que tomando esos tres estados y tomamos todos los otros, tenemos tan maravillosa noche, fÍjense estos estados que hemos ganado esta noche y nos fijamos entonces el tipo de margen por lo cual ganamos y repentinamente, es como que ganamos estados con gran porcentaje y dije repente, ¿quÉ pasÓ en esta elección? todos estos periodistas ellos saben que la podÍan ganar entonces se dijeron vamos al tribunal, pero dije este, lo dije yo, yo estaba diciendo esto desde el dÍa que lo escuche, ellos querÍan enviar a decenas de millones de boletas electorales porque querÍan ganar y sino iban a ganar lo iban a llevar ante los tribunales, la florida fue una victoria tremenda, 377,000 votos, en texas tambiÉn, en iowa un estado grande, me encanta iowa, casi 500,000 votos, carolina del norte tambiÉn y ganamos ahÍ y te

britain germany france and other european countries were the 1st along with canada to send nec congratulations most expressed parts of renewed unity and cooperation following 4 years of tense diplomacy. very much to working with president biden and his team on a lot of crucial stuff for us in that in the weeks and months ahead. change trade is national security many many many many other issues on the streets there appears to have been a collective sigh of relief from europe. i am relieved because these last days of insecurity that were weighing on my heart have been lifted will not merit the last few years is over. for us to see what i meant that he said that will certainly be a new political direction especially when it comes to the environment. so it is the stuff which i see a brighter future than before. asia. martin seems open to accepting people's different viewpoints and wants to move forward in a united manner that's positive. africa. i am absolutely thrilled that biden's one and a little bit scared about what trouble i do next. i think he's a he's a scary unpredictable man and the midd

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the lawsuits while at the same time acknowledging the reality of the situation that joe biden will be nec president of the united states. publicly we have seen that combative stance. yesterday we did get a sliver of the president starting to come to grips with reality. >> this administration will not be going to a lockdown. hopefully the -- whatever happens in the future, who knows what administration it will be. i guess time will tell. this administration will not go to a lockdown. >> reporter: you can see the president acknowledging, at least, the prospect of a potential biden administration even as he continues to make those false equivalencies about lockdown versus no lockdown. as for coronavirus, the president doing nothing to address the surge, the explosion of coronavirus cases that we have seen in the last week. testifies talki in he have talking about the vaccine. that is months away in terms of why distribution in the united states and the president insisting the surge in cases is merely connected to an increase in testing. that's not true and the president showing an absence of

asked by the general secretary in the national executive committee to appear before a panel of the necpanel within the structures of the labour party. this panel listened to presentations from the commode written presentations from jeremy corbyn. he answered a whole number of his questions which we re whole number of his questions which were put before him from the general secretary of the party. and this panel whose job it is to scrutinise in great detail the information before them decided unanimously to reinstate jeremy corbyn before them decided unanimously to reinstatejeremy corbyn package of the labour party. here we see the following morning, ithink the labour party. here we see the following morning, i think it was keir starmer that has said he will not reinstate the width. what does that really mean? does that mean that really mean? does that mean that for the first time i think labour party history we have a leader who basically overrules the democratic processes, and overrules the rule book of the union. because of what he sees as his right decision. i think it's really dama

presidential election, trying to leverage giuliani says, really, actually helps for nec, it's closer to the supreme court. the former governor of new jersey, fellow republican, chris christie, says a legal campaign has become possible. the president's legal team has been a national embarrassment. they won't do it inside the courtroom. they allege fraud outside the courtroom, but when they go inside the courtroom, they don't fraud and they don't argue fraud. this is what i was concerned about at 2. 30 in the morning on wednesday night. listen, i've been a supporter of the president's i voted for him twice, but actions have consequences. and we cannot continue to act as if something happened here, but didn't happen. opposition parties in pakistan have been holding a huge rally, calling on prime minister mount contra presiding. make use the military of wrecking the election a con 12 years ago. the rallies happened in defiance of government bans on public gatherings. demonstrators say the government is using coronavirus as an excuse to stop the. well, how to has more from the pakistan de

it's been exactly one week since cnn projected joe biden will become the nec president of the united states. president trump is still refusing to concede. many of his supporters are following suit buying into the physical's fal president's false claims of rigged election. they are protesting the results that election experts say was fair and the most secure in u.s. history. listen to cheers as the president's motorcade drove by. the president's refusal to accept reality and concede has resulted in a dangerous development. last of customary transition of power. president-elect biden is working with his own coronavirus task force with no help from the white house as the country continues to break tragic records in the pandemic. the u.s. has passed 100,000 new cases. it's the 12th straight day and yesterday, the u.s. reported more than 184,000 new cases. the highest single day number of new infections since the pandemic began. what with relearning about the president's mind set this weekend? >> reporter: it's been week now since joe biden was projected the winner of the presidential ele

that means that over the nec couple of years people aren't going to know what their districts are orompetitive these seats will be. it makes planning difficult. we need to be doing that on the ground, door the door out reach starting now. it can't wait until campaign season especially when we know we lost ground with latinos. we had trouble getting people to vote down ballot. i think that's really a signal for us as we go into the next couple of years that we're going to have the fight tooth and nail to keep the majority in the house. >> to what do you attribute the loss of ground with the latinos. i know wem as well. it's state that has large latino population. overall, what was missing from encouraging latinos to vote for joe biden. >> i think the biggest thing missing and i don't want to speculate on the ideology or anything like that. i think the biggest thing was on the ground organizing. democrats decided to stop knocking on doors because of pandemic and it's a reasonable thing. if we can go to grocery stores and interact socially distance then we need to find a way to do that.

some people say nec chief.e will probably have a role in the administration from what i understand. that's how we got here with yellen being treasury secretary. i want to pivot a little to fannie and freddie because let me tell you something, liz. i get more e-mails, tweets on my reporting about these two companies and you know, where that leaves shareholders who bought these shares of fannie and freddie post-conservatorship when they were beating they would come out of conservatorship at some point, also betting that some of the stuff the government did taking its profits were illegal, also known as a network sweep and then betting a new trump administration would recap these things, massive recapitalization, and massive release plan to them. now, as you know, trump is going to be leaving. the treasury secretary is going to change, it's going to be yellen. mark calabria thinks he's an independent director but that will be challenged in courts. he's not going anywhere until july. what could happen in the meanti

we're life from paris nec. it's smarter trading technology for smarter trading decisions. fidelity. we started by making the cloud easier to manage. but we didn't stop there. we made a cloud flexible enough to adapt to any size business. no matter what it does, or how it changes. and we kept going. so you only pay for what you use. because at dell technologies, we stop...at nothing. ♪ >>> the latest on the coronavirus pandemic. here are the facts at this hour. right now we're closing in on 13 million confirmed case the in the country. more than 1.2 million cases in the last week alone. so far we've lost more than 264,000 americans. empty seats at the dinner table this thanksgiving. for the loved ones we couldn't see because they're in nursing facilities, here's a devastating statistics. about 37% of all u.s. coronavirus deaths are linked to nursing homes. this has infected residents at more than 26,000 facilities. this puts the importance of social distancing for loved ones at another level. around the globe, germany's total case count has surpassed 1 million. plus the sou

hoped for someone else besides yellen >> you have republicans issues support, gary cohn former nec director for president trump saying janet yellen is an excellent can choice and believes she'll promote economy good for everybody >> much more on that and strong markets next on "fast money" which starts right now >> i'm melissa lee, this is "fast money. tonight's trader lineup -- tonight on fast. over cooked what morgan stanley's mike wilson is calling this market and says we could be due for a big pull back. and snap rolling out a new service to take on tiktok. why one trader thinks this could be a big bet that pays ox late -- pays off later, good old fashion game of shop it or drop it which belong on the naughty or nice list. starting with late breaking news on president-elect joe biden's treasury secretarypick steve l. >> reporter: esman has steve liesman with the details. >> thanks very much. president-elect joe biden nominating janet yellen as treasury secretary if confirmed will be the first woman secretary in the country 231 one year history and second chair to host post of second cha

>> i think the wall street people are more focused on treasury secretary and nec than something on the, doesn't seem to me bernie will be the labor secretary. tim ryan or cries chris liu, linda sanchez. california congresswoman. tim is ohio congressman. former secretary of labor, that would be more reasonable names to come to the forefront. tim is well-liked with unions in ohio. with respect to bernie, it is very similar to a lot of people are talking about aoc twitter feed where they have a bunch of progress serves being cheered upon. listen, if the democrats have a big tent, i think what your person said before, connell, to get some of these confirmations done or to get structural tax reform done, then you're making an assessment that the dems take the senate. and right now it is 49-48. it is an uphill lift for us to win both seats. i think some of these things talked about may not actually come to fruition at the end of the day. connell: treasury, you're right would be big one on that front, who would you be passed as treasury secretary. nobody is talking about elizabeth warren that

>>nec to you know they also assure me they're not just pulling the stickers off. i feel where would ruin the fun, >>one of the pandemic will one day hopefully soon come to an end these 2 turn and pursuing this further and may even add to the collection who knows you know maybe we'll get some >>to malta reporting tonight. i think we agree so you want to my list there you go i think. >>and making banana bread was from the over the top a tomorrow.

you mention that senate race between cal cunningham and thom till chis which is neck and nec. cunningham is weathering the scandal. neck and neck with his democrat dealing with a sexting scandal. it threw things in the air again. the 15 electoral votes could create a nice path for joe biden but we'll see. we're waiting for the turnout that many folks are saying maybe we'll see more folks coming in. but slow and steady, chuck. >> we know what this means in north carolina. it's a margin state. it's all about who runs up the score in their important counties makes it even harder to track. trymaine lee, thanks for getting us started. >>> i want to go back to peter alexander because the president, after he said thank you and good-bye and we moved on, he took a few more questions. had a few more things to say about balloting in philadelphia. so, peter alexander, give us a summary of what else the president said in those -- in that improommptu gaggle. >> the president has been expressing frustration in recent days about this plan in pennsylvania that they will continue to receive mai

and then i thought, if i stick my nec out even for myself, there won't be someone like me on the view television. and i write about in the book. one of the reasons that it always wanted to be a broadcast journalist. we had one tv in the house. we did not watch a lot of tv. but we did watch was 60 minutes. we watched every sunday it religiously. and i would pretend to be one of the reporters. but there weren't any that looks like me. and my parents like don't do that, you're not going to be able to feed yourself. so i remember the power of representation. the thought that i would take a chance and risk being that representation for those people who would stop me on the street was nerve-racking. and i remember asking my family i typed in like 25 minutes because it poured out of me. i remember thinking, is this smart? and i showed it to my husband. i said this is professional suicide, right? and he was like yeah possibly. [laughter] and i was like i'm brittle is my job, right? and he said yeah maybe. [laughter] i did it anyway. see what you lead-in. >> guest: i leaned in because i felt l

really switch which you talk about all of the time which is the global order, nec kind see kind of the downside of the globalization. there are a lot of massive issues that are going to have to be dealt with. and some of them have to do with technology and some with a whole new way of a threat coming our way, climate change pandemic, economy. the refugees being created. so in truth, the way forward do you see the need for any kind of global border. maybe based on the old one but that there's a little more robust. in the threat or just going through a bad. and it needs to be governance more than substance. ali soufan: the way to think about the united states and the way we let the world is that we bring our allies with us. if nato and other international organizations and agreements. if you have the united nations. and would establish basically general and semblance in new york. we have this for a reason. in the traditions of the united states and in the world order. so as not only the american leadership. it's basically allowing everyone to live under that umbrella. if and i think it w

speak to larry summers, who was secretary of the treasury under president clinton and director of the necackage, not to wait until he is president on january the package, not to wait until he is president onjanuary the 20th, but do you really see congress moving fast enough? there is much more of a risk that they too slowly and insufficiently than there is that they will move too quickly or too boldly. i don't think there is any question that the economy needs a major infusion of resources into testing, into contact tracing, into masking, into making sure we are ready when the vaccine comes to distribute it as effectively as possible, even if that involves a lot of expensive refrigeration. i don't think there is any question that the million workers who have been laid off from state and local government need to be brought back so they can provide important services like educating our kids. i don't think there is any question that the people who are unemployed should be getting some assistance to tide them through, if only so that those who are afflicted make sure that they are able to sta

then by january 11, the census bureau says it intends to provide the president essaryhe information "nec to fully implement the presidential memorandum." i am quoting the census bureau. so, if i take that at its face, it means that the number is not going to be 60,000. the number intended is substantially large. and i think that was justice is the point, which census bureau has been collecting data about undocumented immigrants from other agencies for over a year. i don't see how you can represent to us that you don't think it will be a substantial number. general wall: three quick points. first, i don't think that is actually an accurate statement as a memorandum. you are right that is the policy but there are two built-in limitations. one is whether it is feasible and the second is if the president decides he has the legal discretion to exclude these subsets payment subsets may have different legal analysis depending on the ties they have or the type of status they have. istice sotomayor: mr. wall, am a little bit questioning of that for the following reasons. the census bureau already

sources are telling cnbc, roger ferguson is being considered for nec director and gary gensler considersould investors look at this the yellen news is welcomed. >> it is really important. we have not had the treasury signed on with the white house in doing a deal with congress for that fiscal stimulus what does fed chair powell wanted them to do, to get together and do that deal. he's saying monetary stimulus can only do so much. former fed chair yellen at treasury in a few months, that's how you get that infrastructure and stimulus going and that's how we are going to get that bridge i guess at least for consumers and small businesses until the other side of the vaccine. >> we could be entering an unprecedent a unprecedented era with janet yellen heading the treasury bond that's fantastic news for the my and consumers. >> it is another one of these unknown that's removed off the table. clearly there is speculation and perhaps elizabeth warren and clearly the market has perception around some of these name l names. there is no questioning of janet yellen and her willingness and ailment t

side hoped for someone else besides yellen >> you have republicans issues support, gary cohn former nectrump saying janet yellen is an excellent can choice and believes she'll promote economy good for everybody >> much more on that and strong markets next on "fast money" which starts right now >> i'm melissa lee, this is "fast money. tonight's trader lineup -- tonight on fast. over cooked what morgan stanley's mike wilson is calling this market and says we could be due for a big pull back. and snap rolling out a new service to take on tiktok. why one trader thinks this could be a big bet that pays ox late -- pays off later, good old fashion game of

i think he was first head of nec, then became treasury secretary.n that job. it's unlikely to happen now. unfortunately, that means you don't get a jamie dimon who from what i understand, if jamie dimon was asked by president-elect biden to be treasury secretary, he would probably take it. he's a moderate democrat. but also, as you know, someone that's pretty tough on certain things. he's clearly not a progressive. he's spoken out against the green new deal. he probably would tell biden not to raise taxes at least until we get a vaccine. he's much more moderate. in any event, he's unlikely to get the call because of how this cabinet vetting process is going on. so i guess there's a good news and bad news scenario. but not having elizabeth warren as treasury secretary i think is buoying, that's a little bit, when you see markets go up, there's a little bit of that in there. divided government is good, the progressives, the crazies are not going to be calling the shots as much and yes, we are going to get a vaccine sooner rather than later. that's wha

i have serious concern that without additional support the capital program is in jeopardy and that nec states have been working for years to reserve something like the backlog of projects in north america. and with the gateway program and what is the current status of the bridge replacement? >> thank you senator from bridgeport connecticut and in connecticut last week so the opportunity with those that we are talking about is essential to intercity rail services patrick on - - going forward and the connecticut river bridge 100 or more -year-old structures are vital. but there is a potential and moving forward with these long needed projects to support and if we are continuing for some period of time that will be delayed have a happy to work with your offices and then to give you a better perspective and more detail as you know from your personal experience those bridges are on - - chokepoints for the entire court or when any of those bridges is out of commission and it is disruptive throughout the court order. up and down the whole system. and those who are traveling through connecticu

so, tech nec we'll technically n the board and update. we currently have in cash per metric and we have abilities to rebalance and we will be using the same and so if it is mix eight or options one and two of alternatives of mix eight, that is certainly will be within the metrics using the cash a count which we use for cash and rebalancing purposes. and we use derivatives such as futures, currently and we can work on expanding it to more choices and the derivatives there will be over where we have a synthetic exposures to treasuries. if you see mix eight has 8% allocating to treasury so some of it will not be fully funded allocation and some of the global equity allocation of 37 for all of those mixes will not be fully funded. and implemented through futures or some more efficient derivative. >> right, that's getting to this next item that we have on our agenda. in terms of the process that we would expect to see from your teams, though, what would you anticipate if we adopt any one of these mixes and we go forward with a plan, we will be

you sit in yourcarorstand nec like in the democrat camp.attention. a lot of backwards and forward , attention. a lot of backwards and forward, by the way on the relationship between fox news. it was fox that called aristocrat, the white house didn't like it, now fox news decision desk saying confident on arizona and they are not retracting that call forjoe biden. we will see where arizona ends up. the fox news decision desk is run by a very independent minded chap who nobody can push round, not even rupert murdoch and he calls it as he seesit rupert murdoch and he calls it as he sees it without fear or favour or any intent of fox's outlook on life. if he says it he won't be pushed into changing it. it doesn't mean he is right but he has called it because that is his best shot. he is highly regarded by people in his profession. we are all watching the flashing lights of the former vice—president biden's motorcade, it looks like if you are the challenger to a president these days, katty you get almost as big a motorcade as the president gets.

more and so obama had to go to larry summers and say i know i told you the deal was come in and be nechair, but we'll keep bernanke there and that decision was in august of '09 so the world looks really disruptive and there is some major crisis out there that we either can anticipate or complaint, that improves jay powell's chances of keeping the job. at the same time one of the potential reasons why you didn't go with brainard for treasury, you keep her in your pocket when the chairman expires 2022. so you do it in the summer of 2021 >> and we're coming up on a break, but i need to ask, in terms of rhetoric, how do you see president-elect biden approaching this job when it comes to business. and what i mean by that, president obama was first in that role, you remember the comments about fat cats, the you didn't build it, that created almost an taking that king anta relationship do you think biden approaches it differently? >> potentially, but i won't make any predictions on any slips of the tongue that he may or may not have i'd rather weigh in on whether or not you should invest muni

when is that not a good idea we'll tell you which one it is that's nec -- next next next next next nextxt next next ext. >>> welcome back to "squawk box," u.s. equity futures continuing a strong week, up another 400 points on the dow. nasdaq has been really strong, up another 313 technology, and then s&p up 63 joining us now, the portfolio manager at douglas c. lane and associates more importantly, a cnbc contributor. sarat, good morning, good to see you. >> good morning! i think a lot. and let's for argument's sake just say that maybe the betting sites are correct and maybe it's unlikely that arizona shifts, maybe it's unlikely that pennsylvania stays whatever you want to say, let's say that it is eventually president biden. let's also say that, which is also reflected in the betting sites, that the senate stays where it is, where mcconnell is still majority leader. let's say those two things fairy tales, sometimes they are reality, and i could almost do a goldilocks for you, and i think you're thinking the same way, if you were to be able to add no tax hikes, throw in some stimulus, d