that's really the fundamental difference between bank financing and online financing. bank financing is obviously the cheapest because they have the cheapest cost of capital. on the other end is online lenders who are efficient and quick because they use technology and they're willing to price for different types of risk. >> if i'm looking to expand my business, i need a loan to open up my second restaurant. why would i come to you instead of a bank? >> so what i would say is, most often the bank -- if that customer had a bank facility in place, chances are it might be a line of credit or something like that. the customer doesn't want to exhaust that resource because they want to keep that in place. they say to themselves, okay, no other bank is going to offer me a loan beneath that first loan i have. but we would. why? because we lend to customers based on the likelihood of repayment rather than knowing that we're first in line if something goes bad. >> got it. again, people are coming to you for all kinds of things they would go to banks for. refinancing. >> refinanci

they have got online finance.have a health arm, so what -- in china, they are looking a lot more like conglomerates. as china slowed down, it is about consolidation. is it the right strategy? sort -- sourcedy of cash. as you say, this always happens during consolidation, and that is what is happening right now. in this is opposed to having to spend more cash. he will pay out of his pocket. >> well, i guess he has got so many pockets. angie: ok, good to talk to you. all right, checking other stories we are following for dealsources say they will with an oilfield by the end of may. to a million rise barrels a day. over 10 million barrels last month, and it could go to 12 and a half million. they say they will continue to invest in oil production. and its biggest jump in more than 35 years after announcing a deal in china. the chipmaker soared on friday. and this is the biggest increase. million with $293 affect venture that will the domestic market. it will be overseen by the chinese academy of sciences, and we are

developers moving into finance, also online, so it is difficult to say what this space will look like so much indeed for that. , thead: sony shares company will delay the released of annual forecast. the company saying the suspension of its facility due to the recent earthquake may have an adverse impact on operating results. sony saying they will release the forecast in may instead. the latest inflation reading from singapore, and this will not look pretty. deflation deepening, prices falling for a 17th consecutive month, also the rate of contraction growing. we will see singapore's longest-running apprised the kleins on record, if analysts are correct. a diplomaticoked passport to force him to return and pay off loans estimated at $1.4 billion. the sale of the kingfisher not aes, he said is willful default. he said the collapse was a genuine commercial failure. he offered to pay $240 million to show his intent to pay up. mumbai has issued a non-bailable arrest warrant. it expects to remain profitable as overseas operations this fiscal year despite the trading slump. the ceo is sayin

online. it is important. i have a tremendous debt to finance papers project. we began three years ago. which is a fascinating, fascinating document for washington, the family, the whole community. documents the everyday life on the mount vernon state and are acting from mount vernon to dump small the bill for some of the seat of the fairfax family's they're will be an incredible technological tool. expanded and all that other account books suggested we not call these washington's financial papers but his business records. public records as commander-in-chief of the continental army, very scrupulous and careful account very important documents. the genesis of this idea is looking at washington through a different lens, seeing a different aspect of this endlessly fascinating man but also to the washington in the context the family and into the context of his times and nation how did he manage an account? develop as a farmer and businessman entrepreneur. and he take the lessons that he learned in the principles that he emphasized and how did his lessons resonate down to the stake? it is a

>> so the online brokerage industry was one of the first innovations of the internet. and financeding. that basically stopped innovating. they started at $10 or $12 a trade 15 years ago. , that innovation basically stopped. so the fees you are paying today are not a lot lower than what you were paying in the late 1990's. these guys are disrupting the entire thing. they are saying zero trade commissions, and they are after the millennials, basically. this is a demographic that has not been big in the stock market and they are trying to get , people to invest their cash little bit by bit into the stock market. carol: kind of bringing democracy to all investors. these guys come from a background where they were working with the big institutional guys. founders they were , roommates at stanford. they were physics graduates, super smart, they were living in new york and manhattan running , their own business. basically building trading platforms for hedge funds and large institutional investors. they were really, they say, impacted by the occupy wall street movement, and they felt they

when asked about why she chose college, kendra, a 20-year-old dropout who financed her education by camming online, simply points her finger to following the crowd. >> i was always told what you're supposed to do after high school. and that it doesn't matter if you don't know what you want to do because you'll find out there. >> so if some students haven't yet decided their major, why are they willing to fork over so much dough? jeffrey is a director at the foundation for economic education in atlanta, georgia. he argues that parents are willing to take the financial risk for the opportunities provided by a degree. >> if that's going to be the decisive difference between whether their sons and daughter's lives are successful or not successful, they're going to take the risk. and pay the bill. >>istically the cost of public and private universities over the past 20 years is nearly -- has nearly doubled, even adjusting for inflation. >> when i went to college it was much cheaper. you could work your way through which i in fact did. that's inconceivable today. >> other students, like this senior, are

financing. this information from the national conference of state legislators. if you want to check them out onlinehere is one example of that. public financing for all statewide and legislative offices to obtain public financing if you are running for one of those offices, you have to get 200 contributions from individuals of about $5.00 or less. and the promise to make if you take the public financing option, if you take the public funding for your campaign, you promise not to take contributions from pacs, labor unions, corporations a political parties. now, the amount of public financing money changes according to what different position you are running for in arizona. if you're running for governor and took public financing, it would be $1.1 million for your campaign. for about $22,800 legislative position. that money is funded by civil penalties from different fees and penalties from civil fines that come in the state. that is the way it works in arizona. you can go to the national conference of state legislators to work in other ways -- to learn other ways it works. richard up next. has made

finance system. bernie sanders raises money in small contributions from people online. >> this is the same system that barack obama's candidacy. >> go ahead. >> no, please. >> it's the system in place, the very same system that supported barack obama's candidacy. this is the system that is in place right now. it's bernie sanders' choice not to be part of it, but that's how money is raised in politics. good or bad. >> it's not the way it has to be, obviously, because bernie sanders raised more money last month than did secretary clinton. 2008 was a different time period. technology was not the same. i'm not confident barack obama could have done it bernie's way because technology is so different now. >> barack obama gets a pass because of the technology? >> it's not about a pass. it's about you are where you are. in 2016, bernie sanders has demonstrated you can fund a competitive presidential race without relying on corporate money and wall street. secretary clinton has chosen to play the old game. bernie sanders has not. >> let's quickly talk about the delegate math. you have people waking up talking

online donations. you get $27. >> if this is such an apparent and serious violation of campaign finance law, why send this to they not go directly to the fec? >> because of the deadlock, it's a dysfunctional organization. they would not render a decision on this until way after the campaign is long over and even then, it might be deadlocked. >> to respond to the suggestion that this is just campaign tactics and some folks describe it as a late hit that shouldn't be happening at this point in the game. >> the latest fec report came out from the fund raising committee and had more information. "the washington post" wrote some part of the story three months ago but didn't have the latest fec filings that just came out and that's why we had this additional information. >> no late hit. >> the fec reports came out. i don't have any control over that. >> and is that a disappointment? >> we would like to win everywhere. but we have a path to victory. we have a path to get more pledge delegates in the secretary. it does not require us to win every state and no particular state that has to be a majority of states going fo

online or $35 in the course of a year. 350,000. does say there is something extraordinary about our campaign finance system this flow of cash is corrupting our system. that's the fundamental point. >> what is the law, though, that he's getting the press on and clinton people are responding to? the law seems to be saying hillary clinton is paying having her staff paid by this sort of joint thing she has with the dnc when in fact she should be paying the staff salaries directly. >> they will get into the nitty gritty but a distraction from the core issue. they will wrestle with did the staff get double compensated or not -- >> let me ask you about yourself. >> that's not the issue. >> i had candidates that i respected that you don't have a big following within the peer group. nothing wrong with that. fascinating candidate. explain why you're the only person in the body with 45 democrats including bernie sanders who caucuses with you. why only you? >> well, most of my colleagues made their endorsement early on when bernie sanders was expected to never get above 5% and never considered to be a strong contested situation. they weighed in with

finance. and at the nasdaq yintech investment holdings, online provider of spot commodity trading services inrating its ipo today. we talked about tim cook's comments on china down 7 on constant currency. does that give you second thoughts about your bullishness on china? >> no. the hong kong number was more disturbing frankly. i think that china, they bought a lot and looks like a lot of people bought them and didn't need more. by the way, in doing some work behind the scenes, i mean, it's not an antiapple thing you hear about china. it's just i think china's cool because that's the steroid market, okay, referring to steroids. that was where they didn't know they were on steroids. you know what's the most important thing, i know it sounds nutty but when i listen to your litany, it's oil. >> oil. >> oil. oil says that china's good. now, i had charif on last night who said carl icahn is why he got fired at the company. i said why did you lose your job, carl icahn. he said saudi arabia does not have spare capacity. if that's the case, given that china's going down in supply and we're going down

finance, politics and entertainment. friday, may 13th. you won't want to miss it. raise yyou know,if you've got "save $500 bucks over here." "no, save $300 bucks over here." well, esurance was born onlinet to save. that's auto and home insurance for the modern world. esurance, an allstate company.

in china, alibaba's finance money to as raising total violation of $600 billion. runs china's biggest online the alibaba early in their founder is at the helm. iceland is on track to free the last hedge funds caught in the capitals control. iceland's central bank governors bloomberg the auction will likely take lace before summer, and recent political turmoil will not have an effect. >> there is a political process for choosing parliament and the government. we work with the government in power at any day in time. inhave our independence terms of monetary policy. government said it was sure it would survive a no contest motion. scarlet: it is time now for the whicherg quick take, in we provide context and background issues of interest. the national conversation on onigration often focuses undocumented people moving across the border. businesses have a different focus. they focus on immigrants they want to bring in. the u.s. wants these workers. the problem comes on deciding who and how many should be admitted. here is the situation. took just six days to reach the a lot of positions says --

online or with a private preparer. the committee has a responsibility to protect tax prepares no matter which filing they chose. this is an opportunity to find bipartisan solution and do what the finance committee has always done best which is find common ground. i thank the witnesses and look forward to work with you and our colleagues. >> let me ask this. the irs is working with the private tax industry on the so-called summit and made an agreement to create information sharing and analysis center. it will facilitate information to prevent identity fraud and theft. i understand there is progress on this but it is remaining incomplete. i have two question for the irs team and anyone else who cares to comment. one, when do you anticipate this summit will be up and running? what entitlements are delaying the launch? and ivgood n we are here the end of the 2016 tax filing season describe the extent to which the irs and partners are sharing information to prevent identity fraud and if that is working or not. >> thank you. the summit has been success and it has been requested to make it a permanent partnership going forward. we have been able to receive information from state tax commissi

online misfires. you realize your mistake, you delete and it move on. but every once in a while, you are the head of financeit turns out your name is ed balls. and instead of just going away, ed balls tweeting ed balls, gets retweeted more than 70,000 times. and ultimately, it gets its own holiday. today is the anniversary of him tweeting his name. and people tweeting his name or paying homage. today we learned he is apparently willing to sign pictures of his tweet. and his wife, today, tweeted ed balls twice three minutes apart. she demanded her husband bake a cake to celebrate ed balls day. i said how i was mid led to delete it. isn't me. this is ed balls we are talking about. and he has no fear. he baked his wife a cake. that is a cake that is maybe the greatest tweet ever tweeted. el balls, you are a hero and you have inspired me to bake a cake. i am going to send a tweet that says amtrak. i'm going to do it. i'm going to undelete that mistake. happy ed balls day, everybody. the best holiday of all time. celebration of what goes wrong but isn't awful with an excellent cake. the latest on the bizarre and

finance minister. ♪ show me movies with explosions. show me more like this. show me "previously watched." what's recommended for me. x1 makes it easy to find what blows you away. call or go onlineto x1. only with xfinity. great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. him a from london and new york this is the european close on bloomberg television, i am mark barton with betty liu. day,e a by 1.1% for the looks like we are down for the fourth consecutive week. the stock 600 and last six months, yes we have come down by 3% but since the 2.5 year low on february 11, the stock 600 up by 10%. spanish home prices, what a big story. ine sales climbed by 50.8% february 2 34 -- 34,007. a real sign the property market is healing as prices stabilize, the economy exp

online. we have worked closely with the saudi's and and other gcc partners to shut down isil's efforts to finance their operations. some of the countries the president will be meeting with have capitalists who are regional financial center. by blocking or at least countering isil's ability to access the services available on those capitals is important for longer-term success we have made progress in that effort because of their cooperation with the united states and because of their support for coalition. there are a variety of ways in which the partnership between the united states and saudi arabia has been enhanced under president obama's leadership in a way that is good for the united states. that is good for national security. and it's good for homeland security. that's always what the president's focus on his making these decisions and engaged in this diplomacy. this is a good example of the president focused on the right goals in pursuit of the kind of common ground that benefits the citizens about the united states and saudi arabia. thank you everybody. see you next week. >> [inaudible co