is peter cook in washington.st that backdrop, what do you see are the real chances of an overhaul of freddie mae and freddie mac over here a time soon in d.c.? >> if we have a republican today, you will definitely see some sort of reform. can we really get investors to 10% of and take 5% or the credit risk and housing bonds? >> what do you think of that? is that what would happen? isconceptually it attractive. there are certain indicators out there that we are going to see change both to the enterprises, fannie and freddie, have been trying to sell credit risk to the market. overall, you have got to remember it has always been a government-backed market. the private sector has never really supported housing in this country going back 100 years. why are conservatives, my friend at the american enterprise institute, talk about this conceptually, my answer is ok, fine, but realized the way to we get investors to buy housing today is by making it a commodity so they don't have to actually do the particular credit ris

peter cook with us. "haven't heard the word boehner" in weeks.le for john boehner because there is a lot happening in congress. basically he is on autopilot because he knows they have an advantage. they will hold the house republican thing and a good chance of winning the senate. they will not tackle tough issues like immigration this year because they think they're on the right flap a -- flightpath. lame-duck? >> no, because i think the expectation is john boehner will be back, will be running for reelection, and intends to be speaker of the house. that is the sense right now. if that doesn't happen, there's going -- the knives will come out, just's will come out, and we will have a serious battle. >> i hope we can do this again tomorrow. how about a report? the imf, is a floating, fixed, the violation, appreciation? how about the dollar-yen and the euro decidedly stronger? stay with us from washington and new york, it is "bloomberg surveillance." ♪ ledcrimonious stalemate has dashers janet yellen the only adult in the nation's capital? around l

peter cook is back. nader about the unusual alliance. better known for taking on wall street players. why is he joining forces with them? alliancean unusual here. normally, he is on wall street protesting things going on there. at this time, use on the same page with some major wall street players. thathave made a large bet the government bailout and takeover of fannie and freddie back in 2008 will not eventually passed legal test. their investments will eventually earn them millions of dollars. he is a private shareholder of the two companies. e andvested in both freddi fannie in 2000. well before the bailout of those two. frommakes them different those who invested sense that a bailout and crisis is that his investment was before 2008. he says he shares the same view that the government actions here were not legal. it was unfair for them to vaporize common shareholders like himself in the process and sweep up all of fannie and freddie's profits without giving any consideration to private shareholders. he makes no apology for teaming up

right, peter cook, senator franken, thank you both so much.ator franken did mention bloomberg talking about that neighborhood set up, and for purposes of this disclosure, -- for purposes of disclosure, bloomberg and cnbc are competitors. next, a market update. we'll be right back. ♪ >> welcome back. this is "bottom line" on bloomberg television. i'm mark crumpton. staying with us. the equal pay debate is at a stalemate after republicans blocked a motion to advance the paycheck fairness act, killing the debate. aimed at narrowing the pay gap between men and women, the bill would allow workers to compare salaries without threat of retaliation and would allow companies to explain pay disparities. after senators talk past each other on the floor today, no one voted off -- on the bill. democrats promised that the fight is not over yet. and a reminder -- there are multiple ways to watch bloomberg television. we are on the web at bloomberg.com, on your mobile -- on your mobile device, on apple tv, and on amazon fire tv. bloomberg's washington corresp

our editor-at-large cory johnson is with us from new york as well as peter cook with us from washington. peter, you just listened to musk speak earlier in the day. you have some ideas on what this could be about. what are you thinking? >> first of all, i heard elon musk this morning, one of the star attractions at the annual conference gathering about 1000 business leaders from around the country i'm all interested in exports abroad. xm bank has helped spacex in terms of some of its business overseas. he was there to sing the praises and talked both about tesla and spacex. my sense is, from everything we've heard so far, the announcement will have something to do with spacex's interest in getting into the military satellite launch business, which right now is controlled entirely thenited launch alliance, partnership between lockheed martin and boeing. he is been trying to crack this for a while. spacex has a deal, talking to the air force about it, but they need to clear certain hurdles before they can truly be considered -- and this is just a guess -- that that will be what you on musk

he spoke exclusively to peter cook. peter asked him if the obama administration has misjudged president vladimir putin. >> i do not think anyone misjudged him. let's go back to 2008 when president cliputin invaded georgia. this is not a new approach that he has taken, but what you always have to do is always be prepared. >> we will have more from that exclusive conversation coming up later. years ago, u.s. luxury label michael kors was little known in europe. with stores popping up in high-profile locations, it is stealing market share from its bigger european rivals. here is caroline hyde. what sort of pace of growth are we talking about? >> pretty phenomenal. sales have more than doubled in two years. europe is getting a bigger piece of the pie. it is 10% of tackle cores's entire sales -- of michael court's -- michael kors's entire sales. this is a company that is managing to double sales, but he phenomenal. it has given the chief executive that much more ambition, that much more optimism on the growth that he can have

peter cook has the latest. the vice president visit is a show of support for the ukrainian government. >> a very strong show of support. he is the highest-ranking official to arrive in ukraine. he arrived a short time ago. he has meetings tomorrow. tois delivering a message nearby baltic states that the u.s. does care about what is happening and the new effort by russia in the region. it is a message to the russians they are not doing enough to implement the geneva agreement from last week. we had violence over the weekend with three people shot and killed in ukraine. the ukrainians and russians blaming each other for what happened. even the u.s. says we are not sure what happened in that instance. biden will make the case that the russians need to do more with there is the threat of more sanctions. it was a message reiterated by jay carney at the white house a short time ago. >> as we have made clear should russia continue to engage in destabilizing actions in ukraine, there will be costs. there have been alre

lex peter cook. thank you. >> documents released in the general motors investigation into an ignition switch flaw reveals new information about regulators failure to act. onre in washington with more the story. the documents released by the energy and commerce committee, they were not just critical of gm button suggest the national traffic safety administration made mistakes, to. >> the document showed this by claims that gm was not forthcoming enough back in 2006. the national traffic safety administration noticed warned to claims over chevy cobalt airbags were four times higher than its peers. ignition switches could turn off when chart, deactivating the airbags. they received 29 complaints about airbag failures. year 2000 three-2006. even with all of the complaints and crash reports, in 2007 a review group overruled the defects of the division and determined there was not enough of a pattern to open a formal probe. -- actingd administrator said did not recommend starting a probe because the cobalt

peter cook and his exclusive interview with defense secretary chuck hagel. they were in hawaii, lucky dog. you can also watch us streaming on your tablet, phone, and on bloomberg.com. and apple tv. ♪ here is the truth about the target credit and debit card data breach. it could happen again. in fact, it could be happening right now. the u.s. continues to use the technologyt insecure exposing consumers and businesses to the threat of data theft and fraud in person and online. so why hasn't anything been done? we asked the ceo of current services and jpmorgan chase. >> target is a defining moment for us in the u.s. where retailers and banks need to work together to make it happen. it is classic chicken and egg. retailers have to upgrade their but iff-sale systems, there are no cards with chips there is no reason to do that. if retailers cannot accept it, no big reason to put them on the card. this is the opportunity for retailers and banks to get together and make it happen. >> it doesn't happen -- have to be this way. with me right now is the ceo of a french

peter cook has an interview with the ceo of marsh mclennan. antennae look at aereo manufacturing plant. we begin at the u.s. supreme court as justices hear arguments in the controversy alsial aereo case. >> no clear answer to how the court will roll. certainly a lot of tough questions. justices were concerned they were using a technological gimmick to get around the broadcasters copyright. that said, also a number of justices that were concerned about the implications, in particular they asked about cloud computing and whether the ruling might limit that industry. >> earlier today on bloomberg, especially addition of "the in l loop" the ceo gave exclusive comments. >> i do not think anyone can forecast what will happen. that.a fools game to do mainly because i think we feel very confident in the facts. i think as a matter of law, we are dead right. it is the united states supreme court, no one can predict. >> you are giving us a sense of the copyright question yesterday. is that something could justices seem to zero in on today.co >> they spen

bloomberg washington correspondent peter cook is following the story. the question right now is do they have the votes? >> they appear to have the votes, mark, and this vote will take place at her this afternoon. the senate is coming into session now. this is a fight that has been waged since december. democrats are trying to extend these benefits since that time, and it looks like they have the number of votes they need in the senate to get it done. the question remains, what is going to happen to this measure in the house of representatives? this latest proposal is bipartisan, coming from senator jack reed from rhode island and dean heller from nevada. this legislation of reauthorizes unemployment benefits, the emergency benefits through may, and he would be retroactive, as you said. more than 2 million americans could be eligible for the benefits good about 10 billion dollars being paid for basically by changes to company pension payments. they don't have to pay as much in pension payments, and that priests taxable income. also, custom user fees invo

cook andin with peter the latest on the crisis in ukraine. good afternoon. >> good afternoon. g7 nations preparing new sanctions aimed at russia even at this hour. the crisis in ukraine escalate even further on the ground. that aorts of violence team of international monitors from the osce had been taken hostage by this -- pro-russia activists. they did nothing to ds glade he crisis -- and the escalate the crisis. is president saying the u.s. prepared to further isolate russia economically. >> president putin is not a and recently acknowledged this has already had an impact. certainly, if the situation gets worse and sanctions are broadened to the entire sector, that will have a more severe impact on the russian people. >> more signs of the economic for a fifthing straight day after the s&p lowered the sovereign rating to just above junk status. the ruble has lost 9% against the dollar as well. in terms of sanctions, there will be no new sanctions announced today according to two u.s. officials kne. this could change by the start of next week you're the president is traveling

he spoke with peter cook on his way to asia. did the obama administration misjudge vladimir putin and the challenge by russians going forward? >> i don't think anybody misjudged vladimir putin. let's go back to 2008 when putin invaded georgia. approach thatnew he has taken. what you always have to do is you have to always be prepared for any contingencies, any possibilities. i don't think it was a matter of n.sjudging puti what his intentions were, why he did what he did. we still don't understand fully. the point of responsible governance is to have strong options and capabilities and be prepared for any contingencies. it's a dangerous world out there. a very unpredictable world. inyou're having to negotiate an environment of dwindling defense dollars? is the situation in ukraine leading you to reassess the budget you just submitted? would you do things differently now? >> the number i presented in the president's budget was not my number. that was the president's number. that was the number that was already agreed to by congre

peter cook., we will talk to one of the key lawmakers questioning the deal. >> to the newest ipo. -- excuse me, la quinta made its trading debut this morning. it has been fluctuating between gains and losses. here, looking at the trading of la quinta. she is also looking at some of the other ipos that have priced this year. >> everyone loves saying that quinto. -- la quinta. where are they staying tonight? >> something tells me not. deal isquinta interesting in and of itself. it is interesting in what does it say about ipos and what we have seen with ipos? teen the rocky mess of digital, are we starting to see a little turn in appetite? -- mess of king digital, are we starting to see a little turn in appetite? if you look at the numbers and the performance and the big ims health, rice energy, e p and energy, mixed performance since they came out with -- since they began trading. this tracks companies that have had public offerings in the past 12 months and how they do. we have seen a decline for

peter cook has more on the missing pieces. aren't they some of the most coveted jobs in washington?> they are not as hard -- not as hot as they once were. part of the reason for this change is the ugly process. these jobs do matter at the fed has to make some big decisions. it matters to janet yellen. these are the members including the president. these have been at every single fed meeting. help the chairman carry out the fed apostate today administrative lows. the terms are set at 14 years. that is pretty good job security but nobody is staying that long anymore. the average number is down just under five years and that number is dropping even further. the fed will be left with just three sitting governors. turn expired last year and remains on the board. he has been renominated to a board seat. reduced to not been three governors since the 1930's. they need to clear committee and the full senate before they can join the fed. even if they do get confirmed there will still be in two new fake it -- two new vacancies to fill. this is not going away anytime soon. waiting to see with d

peter cook sat down with secretary hagel for an elusive interview. peter joins me now from los angeles. good day. >> good afternoon. secretary hagel faces a range of challenges at home and abroad these days. the crisis in ukraine is raising worries about russia, another shooting rampage at fort hood has upped immigrant soldiers killed by one of their own, and just troops are still at war in afghanistan. that is not stopping chuck hagel for making this trip to asia right now. i spoke with him in honolulu as he needs -- meets with defense ministers from 10 asian countries. i asked him about the shooting at fort hood. >> it is a terrible tragedy. it has been revisited once again on fort hood. our thoughts and our prayers go out to the families of the big adam scott, and those who have been wounded and are going to continue to focus on them as we should. in the meantime, the investigators do their work. we do not have a lot of the answers, we do not know why it happened, we do not know why he did what he did. we will find that out. this is 24 hours away f

peter cook tracks president obama's trip to asia. in the era follows the crisis in ukraine. let's begin with michael mckee and more on the unexpected slump in the u.s. home sales. what is the take away from this latest report? >> concern about what's going on with housing in the united states. this was supposed to be the prime spring selling season and we were going to see housing take off after 70 years of being in the bowl. it lands with a thud. sales plunging in the month of march. to the lowest level in more than eight months. this follows news that mortgage originations took a plunge to a 17 year low. this is not just temporary. this is a long-term problem for the u.s. housing industry. as the banks reported, their -- two ofast quarter the biggest mortgage lenders saw many fewer mortgage originations than they had in the past, even though they had been loosening their credit standards. score average >> has dropped differently. >>tell us what is really happening at this point. >> there are a couple of things. builders have increased price is too much. the real problem ha

peter cook is tracking the hearing.nds like it will be a tough sell. >> i think that is a safe bet after what we saw over the last three hours here on capitol hill. senate judiciary members and top comcast executives over this merger between the number one and number two companies. they were firing back and saying that this deal will ultimately be good for consumers. it will not harm competition. it will lead to faster broadband speeds. at the end of the day, this is not anti-competitive. >> objectively, this is not a challenging transaction from an antitrust perspective. our companies are distinct areas. we do not compete for customers anywhere. the transaction will not lead to any reduction in competition or consumer choice in any market. >> that line was challenged by other witnesses from public advocacy groups and consumer groups, as well as aspiring ultrasound network. they are trying to crack comcast systems. they were challenging that the sheer size of this combination would give this company new leverage. it wou

peter cook is in washington as well as our editor at large in new york and joining us is sean casey, managing director of the silicon valley space center. he is in california meeting with engineers at the space studies institute. sean, i'll start with you. there seems to be conflicting opinions about just how successful this latest launch was since the boost stage was destroyed in the ocean so it actually wasn't reusable. how successful do you think it was? >> well, i think based on what mr. musk had to say, the telemetry from the first stage indicated that it had come down successfully and that it had maneuvered to a zero velocity point before dropping into the ocean. the comment from musk was that the ocean was pretty choppy and so that contributed to the demise of the vehicle, but based on the telemetry which is pretty much how we get all of our engineering data back from launches, the telemetry indicated that the vehicle performed successfully and is ready to move on to the next stage of testing. >> cory, what's your assessment about how good this launch was and the prospects, th

richard falkenrath and peter cook. thank you so much for bringing that for us. we are waiting for the jobs report about 60 minutes away. where are employers hiring? we will have much more on that, next. can't wait for the world cup? check out the robotic version. we will have that in a few moments. ♪ >> one question that comes to mind, where exactly our jobs being created? here in new york city, tech related jobs are thriving and being created at a fast pace. a new study shows that 45,000 tech jobs are created in the city between 2003-2013. which represents 18% increase. jack, who now is ran for new york city mayor this past year. it is interesting to me that, not only are we creating tech jobs at a faster pace than under industries in new york city, but those jobs pay 50% more than hourly wage workers who work for the government. that is both positive and troubling. >> that is correct. we have a very exciting jobs picture here in new york city, particularly with tech jobs. nearly 300,000 jobs in new york city alone in the tech sector. what's really interesting

peter cook, thank you.ing behind closed doors to show you the lab eight pharma uses to hunt down counterfeit drugs. ♪ beware. if you have ever thought about ordering drugs online, this story might make you think again. olivia sterns looks at the black market for counterfeit pills and what big pharma is doing about it. >> it is the drug trafficking you do not hear about. more than $75 billion worth of fake pharmaceuticals are sold globally each year. inside these filthy makeshift paint, oftened sheet rock are just some of the toxic ingredients founding counterfeit pills sold online to customers around the world. it is a problem so big that pharma companies like pfizer are now policing it themselves. at the counterfeit lab, scientists are doing the leg or. the evidence they gathered here will then be used to prosecute the perpetrators. her pfizer, it is a winning formula. their incentive is to protect the brand. today, they are training me to spot the real deal. how can you tell just by looking at it? that is

thank you very much, peter cooke. and my mahans also to brian from bloomberg -- my thanks to brian from bloomberg industries. football players at northwestern university. they complete their vote on perhaps launching a union. we're going to look at how the results could change the future of college sports. ♪ >> this is "taking stock" on bloomberg. i'm pimm fox. our theme today is launching. and northwestern university football players completed a vote today that could launch a union. now, we won't know the outcome for some time. the ballots have been impounded while the national labor relations board reviews the case. joining me now with more insight on this issue from washington is ian gold. he is the director of strategic research and campaigns at the teamsters union. from chicago, we have brian paul. he is a partner at michael best friedrich where he works with companies on employee issues, including relations with unions. and joining me here in new york is robert keel. he has four decades of experience as a civil

peter cook joins us from washington. will we see tougher sanctions this weekend?ing we get from bc is that more is on the way, particularly as geneva plays out the same way everyone expects, with no clear breakthrough in the crisis in the ukraine and the message we have gotten from the white house and the state department, and the treasury department is that things are tied up right now, to once again go after cronies and those close to vladimir putin, people who are part of the industry there, and the idea of sex oral sanctions, on higher industries in russia, those are still being held out there, as a final stick, if you will. ande are out there as well the white house believes they would have an impact on the russian economy, whether or not they would have an impact on vladimir putin, that is another matter. >> is there concern that the sanctions would have an impact on the european economy? >> there are more concerns in europe, that there are more prizes in store for them, as they go along with the sanctions. there was a meeting in the european union, that the

peter cook has more on these exclusive rankings. to 2013, and the first word that comes to mind is sequestration. is that what this is all about? >> it shows that there is some real pain from sequestration last year. you can see this with bloomberg government, 200. the top list of federal contractors. it does not mean that contractors do not make plenty of money working with uncle sam. even with a tight budget some companies even increased their revenue in 2014 -- 2013. --y paid $251.1 billion on 462.1 billion last year on contracts, the lowest total since 2004, and in inflation-adjusted terms, the top 200 had 65% of the money and the top companies saw their contract dollars actually decline last year. and of theon at work 94 that saw increases, 21 saw growth in numeral for specific markets. cyber security and intelligence. that is where the money is headed in the future, the places where a lot of these countries -- companies are now investing in the future. >> peter, which company or supplier or contractor does the most with the --

intercut. -- peter cook. with aup, we will talk ceo joining me.cluding, cricket, one of the world's popular sport. is bettert business played defense because soccer is looking to score right on its own turf. stay in the loop. ♪ >> it is the world's is most-watched sport. india, is like football, basketball, and baseball rolled into one. this is soccer. it never really has taken off in india. people are betting on an indian soccer league. it begins in september. let's put it in dollar terms. estimate, then premier league is value in a $3.7 million. the indian soccer league games are worth $200 million. betting those teams will eventually be worth a whole lot more. in onee, i want to bring of the investors, the chairman and ceo sports management group. great to have you here eric rice great to be back. if you look at ask graphics of india and people, as we did, with our partner reliance, how would you characterize yourself in terms of the sports enthusiast, as you look at the demographics, the older the demographic, the more people sit of themselves

peter cook asked him -- speaking exclusively with bloomberg in hawaii.'t think anyone misjudged vladimir putin. discuss back to 2008 when putin invaded georgia. this is not a particularly new approach that he has taken. what you always have to do is be prepared. they want to de-escalate the ukraine crisis and reach a diplomatic solution. in other headlines today, houseeb says the needs new leadership. he says the current directors don't own enough stock to ensure that their interests are aligned with theirs. >> thanks very much, carol massar. withature individuals major, schmitz that might not have happened without that a-ha moment. the public relations girl for she finally hit what she describes as rock bottom. gabrielle bernstein is the new york times best-selling author of "may cause miracles." she has a new book out called "miracles now." thank you for being here. >> thank you for having me. >> i want to understand this hit rocknt when you bottom. >> i was 25, running a pr business, representing nightclubs here in new york city. me to can imagine, it

gunmen opened fire. .t least 16 wounded peter cook is with the secretary of defense. charles hagel in hawaii. mr. cook torrance a seven night by some. thank you for joining us in our early new york morning. it a perfunctory reaction by the secretary of defense? is it by script or something new here? we are talkingt about another one of the shootings at a u.s. military installation is a strange feeling of dÉjÀ vu. something the president has had to deal with and chuck hagel and today in honolulu a cast a cloud over his fourth trip to asia. terrible tragedy. referred in a moment of science -- silence. can'tis a feeling of believe this has happened again but this is a traumatic issue for the military dearly -- dealing with mental illness and the stress of the wars. the shooter has served four and wasn iraq in 2011 being treated possibly for ptsd. top issues for chuck hagel and the defense department overall. >> greatly appreciate your report. reporting from honolulu and diamond head this morning. look for the interview tomorrow. >> a little different conversation than it

peter cook sat down with secretary hagel for an elusive interview. s me now from los angeles. good day. >> good afternoon. secretary hagel faces

peter cook is our chief washington correspondent. maybe it's a scandal or not. spirit of empty seats at the fed, isn't there? >> we could have the possibility of this three sitting fed governors for the first time since the 1930's. this is a big heal because janet yellen is now the chair, dealing with some big issues. is counseled them to carry some of this administrator load. she counsels them for their input around the table. unless you have the full confidence of fed governors there, the regional bank presidents i'm a she's not getting the full set of opinions and thoughts on what to do with that policy at a typical moment as they execute their exit strategy. did we get here? what is the why? >> these jobs, each individual who takes these jobs has their own reason for leaving. jeremy is leaving after two years. he has his job at harvard. if he does not go back by may, he is not a professor at harvard. nobody serves 14 years. fed 2000, every single governors serving less than five years. their term right now is about three years. this job did not have the same

peter cook sat down with consumer advocate ralph nader to talk about his latest campaign.e who yo he is teaming up with. ♪ >> welcome back. hedge fund investors who bet big on fannie and freddie may have a new ally. it's not somebody would expect. ralph nader -- the consumer advocate is siding with investors like bill ackman who say the federal government cannot wind down the housing giants without paying off its shareholders. spoke to mr. nader about the unusual alliance. siding with wall street -- that's the strangest bedfellows i've ever heard. ralph nadery not style. he's usually taking on wall street's biggest players. he says this case is different. he is a longtime shareholder in the mortgage finance giant eared t.crease of bill ackma he agrees with bill ackman. >> that shareholders have been used and abused. they were thrown into a conservatorship in 2008. right after the chairman of the federal reserve assured the shareholders of fannie and freddie that the companies were rocksolid. took weeks later, they over conservatorship and the stocks plunged. they deceived

peter cook has much more. comcast is going to say what exactly? >> contest will make the case this is in the public interest. it is not a big concern for congress or anyone else. the number one and never to cable companies in the country are combining with this deal. the sales pitch has been going on since the deal was announced in february. it is really heating up with this hearing today on the hill and with the formal filing to the sec that comcast made yesterday. in that filing, comcast is going to make the case that this deal is in the public interest. it is going to benefit consumers. there will be more choices, cohen, executive vice president for comcast will be testifying today. he spoke on a conference call yesterday to reporters. >> we think we will be able to convince people that the benefits here at way -- the risksts here outweigh any that may arise as a result of our getting larger. getting larger, for sure. comcast makes the case throughout its filing and then and in comments from david cohen. in termsd of the day, of composition tha

washingtoning in our correspondent, peter cook. how surprising are these numbers?e numbers were coming down and this is a rosier picture than estimated. some of it has to do with the health care law and some savings there. numbers not as big as first rejected him about let me talk about the budget deficit. now projected by the congressional budget office to be $492 billion. that is down from where it was previously. the health care law. it has been a huge debate. the president has gotten better numbers in terms of enrollment and he's getting more numbers here on the budget for that also should leave the white house. it's going to cost 36 oem dollars in 2014, $5 billion less than the cbo previously projected. basically the subsidy numbers for people who need health care coverage will stop the longer-term nubbers, the ten-year finger -- 10 year $1.38 trillion. comedy people are going to be covered? they are not measuring apples to apples. at cbo still puts the number 6 million. why do they have it that way? they are looking at the average number of people who have he

here's peter cook asking about the upcoming trip. >> you are on your way to mongolia.the first secretary to go there since don rumsfeld. when he left and they gave him the gift of a worse. my question is, are you prepared for a similar gift, it is there room on the plane? [laughter] >> i do not know if they would consider giving me a horse, but i would be privileged if they would give me any recognition of our partnership. probably there is no place for livestock that i have seen on that plane. >> take a look at this, this is no joke, or is it? speaking of leadership, guess which big banks have ceos that are underpaid? ♪ >> you are watching "lunch money ." we are also streaming live on bloomberg.com and your tablet and smartphone. bank of america ceo brian monahan made $13 million last year. what if i told you he is underpaid? that is the conclusion in the new study by bud crystal. we discussed that finding with betty liu. >> what he did was crunched numbers in 2013 scales, will return, and their tenure as eeo -- ceo. and created a going rate for each ceo. bryan moynah

peter cook has more details. what is this all about? we use the term net neutrality but nothing is neutral in life anymore. >> there is debate on consumer groups and open advocates. they say what the fcc is doing is a complete abandonment. treating all web content and all web traffic the same way -- the fcc chairman has a different take. the sec has tried twice to put net neutrality rules in place. the federal courts effectively tossed those out. they are trying a different approach. once again saying internet service providers will not be able to block access to any legal web content. but they are raising the idea that providers could charge a premium to companies that want their content delivered at the fastest possible speed. think of netflix. it will decide on a case-by-case basis if each deal is commercially responsible. the broadband providers, it is not what consumer groups have wanted. including one from public knowledge, they say that they are asking them to pick winners and losers. the essence is discrimination and the core ne

. -- peter cook joins us with more. >> everyone has been anticipating a decision from tom wheeler and the sec as to how this decision will move forward. this latest proposal caught a lot of people by surprise and i think even the sec has been surprised at some of the pushback it has been getting initially to this proposal. basically, the sec maintains this is not an abandonment of net neutrality, but if you will, a strategic retreat, one that they think will pass legal muster with the court, and one that does not automatically guarantee every high-speed wealthy content player out there will have to charge for access to those high-speed lines, but that the sep see -- the sec will decide on a case-by-case basis "commerciallyare " going forward. if they are, that will be the practice going forward. the sec still believes net neutrality is in tact. >> not an abandonment of net neutrality, but will it be a tough sell? >> it is already emerging as a tough sell. you have consumer groups opposing this. it will be a tough sell with democrats on capitol hill, who have lobbied very hard for the

. >> tom keene throwing his shoes at peter cook. the next name in the news, bond king bill gross has enjoyed several decades in the limelight as one of the best-known bond investors in the business. he founded and still runs pimco, home of the world's largest bond fund, nearly $2 trillion in assets. that money comes from pensions, endowments, pretty much anyone with a retirement account. recall in january when bill's bond kingdom was shaken when pimco's ceo mohamed el-erian left the company. here is mr. gross a few weeks after that. >> were we disappointed when he left? yes, we were. he will be here until march. mohamed came back, not only the heir apparent, but the future ceo. i thought i had done my job but obviously not. >> this is bill gross yesterday. >> extremely disappointed. i thought i knew him better. we hired him to be my successor. does it make me mad? yes, that makes me mad. does that make me disillusioned, not really. i would simply say, come on, mohamed, tell us why. the furor over the past two months in terms of the

chief washington correspondent peter cook is in d.c. impact of these talks could be if they fail. peter. >> that is right. if there is no deal to use this crisis, a real concern here in the u.s. and in europe about where this thing is headed and the possibility of cores is that we could see once again more sanctions put in place by the united states and europe, but there are some worries about the division within europe that could undermine these sanctions. senior administration officials and the u.s. and say they're ready to trap the heat, betty, on vladimir putin and the russian economy by expanding the list of putin cronies on her hit list, and that means these bands for some of the most prominent business leaders in russia, people close to vladimir putin. they could also sense a more russian banks, effectively tonight them access to international financial markets, and the threat of sector sanctions on these entire russian industries remains out there, but the obama administration is holding that in reserve at this point. the u.s. al

thank you very much, peter cook. moving on -- are we moving on?e doing a tease, coming back in two minutes, talking about the top 10, from burberry to bank of america. the top 10 stocks that you need to know. the markets are still moving higher, sitting near the high of the session, the dow was up 146, a gain of nearly one percent. the nasdaq is trading higher as well. coming up in the next hour, we will talk about a couple of men who are transforming the eyeglass industry. they are the founders of warby parker. they are coming up next, on "street smart." we will be back at the close of trading, right after this. ♪ >> all right, every sector is trading upwards into the high of the session right now as we head into the close. time for your top 10, cvs late spin offssion, try to its billboard advertising segment and the judge will rule on the transaction. from the irs, the billboard rose in the last memo -- last month. cbs plans to sell the rest. number nine, burberry, the second half of their position rose in their online expansion, helping to boos

chief washington correspondent peter cook has the latest from washington. it doesn't sound like biden has stopped talking and started acting either, does it? >> well, he certainly hasn't changed the equation on the ground in ukraine, almost as soon as he left ukraine today, matt, the acting president of that country basically said that the anti-terrorism activities from just a few days ago in eastern ukraine, that those would have to be restarted because of developments on the ground. he made the move after the bodies of two people allegedly abducted by pro-russian forces were found and after ukrainian military aircraft were reported to be hit by gunfire. those developments raising worries the geneva agreement raised to de-escalate the crisis is in trouble. joe biden offered u.s. sport for the ukrainian government while he was helping to implement political and economic reforms. he called on russia to pull its troops back from the ukrainian border and to hold up its end of the geneva agreement without delay. >> we call on russia to stop supporting men hidin

peter cook is standing by with details. very fewper continues, changes in the statement today. remains theance same but taper continues, down to $45 million a month and by buying. -- in bond buying. $20 billion for mortgage backed securities. 25 billion dollars for treasuries. they will likely continue at that measured pace if information holds up. no changes in forward guidance language. the biggest changes have to do with the economy, there is a sense that the fed sees traction in the economy. information received since the fomc committee met in march suggests growth has picked up after slowing in the winter because of weather conditions. labor market indicators are mixed but showed employment -- showed improvement. unemployment remains elevated. household spending appears to be writing quickly -- rising quickly. recovery in housing remains slow. with appropriate policy accommodation, economic activity will expand at a moderate pace and labor market conditions will improve gradually. isk inmmittee sees the r the economy and the labor market is nearly balance. with regard to f

peter cook tracks president

peter cook and to liana gold on a roundtable toward de-escalation of tensions. let's go to geneva as secretary joinste cary -- kerry discussions on ukraine. said it was kerry just the beginning, these talks today. the four parties, the united states, the european union, legallynd ukraine -- he armed -- illegally armed individuals in ukraine must disarm. they agreed that all government buildings that have been occupied in the southeast of the country must be freed. some interesting agreements today. all of them very easy to verify. said, if he did not see action by the russian side by this weekend, he will introduce more sanctions against russia. thery special guest, foreign minister of ukraine joining us now to talk about this breakthrough, if we can talk about it today. thank you for joining us. how big of aith deal is this. does this mean that everybody can stop worrying about the situation in ukraine? the initial steps in the process of de-escalation of the situation in ukraine. concernedtinue to be about the activities of these paramilitary troops in ukraine

steve washington -- chief washington correspondent peter cook is traveling with the secretary and he joins me now by phone. is this triple about the so-called pivot to asia? >> aloha, mark. for sure, that is what this trip is supposed to be about. kerry hagel is making his fourth trip to asia with this trip. as you said, his meeting with his asian counterparts, showing off some u.s. military hardware and talking about areas where the u.s. and these countries can partner up. military assistance, disaster assistance come even in malaysia with the search for the malaysian plane. the administration is refocusing resourcesefforts and and the military towards the pacific region given its importance, its economic importance. but as you said, the shooting last night in fort hood, texas has hung like a cloud. aboard the ussas anchorage yesterday when he got the phone calls updating him on what had happened. troubling.cularly it is a challenge for secretary hagel and the department. violence in these installations have become a real problem. >> any idea how the secretary will respond to it? >>

. >> all right, peter cook, our chief washington correspondent. thanks for this.e will be following this story all day long. we will be joined by senator chuck grassley, the leading republican on the senate judiciary committee, here is concerns on the deal's impact on consumers later this hour. we will be right back. ♪ >> welcome back to "bloomberg west." i'm emily chang with cory johnson. we are talking about the comcast-time warner cable potential merger. the senate hearing just wrapped up on capitol hill. susan warner.by you were out with an op-ed on bloomberg view. comcastle of it " depends." to us.it is a gift >> this merger and has to go through. their job is to create an air of inevitability about this deal. the politics in washington are drifting against comcast's plant. it is not at all clear that the concessions in the public interest are actually in the public interest. >> senator franken pointed out saving money, those savings will not be passed on to consumers. >> they have an obligation to prove to the fcc that this merger is affirmatively in the pub

>> peter cook, thank you. we have more breaking news as part of our latin america coverage.ntel announcing that it will shut its costa rica test facility and cut 1500 jobs at that site. intel says it is consolidating assembly and test operations. boon togy should be a education, giving educators new tools and better outcomes. but for a handful of for-profit companies, a turn toward technology has meant big profits, but disastrous results for thousands of students. spent weeks has poring through the hundreds of pages of legal don -- documents and has come up with the idea that not all technology driven change has been good for education. you have found, at least looking through some of these documents, that education results are worse online. why has tech not made things better? been an interesting tour that has largely gone unreported. for-profit companies made a big shift around 2006 to move more and more of their operations online as the markets they were selling their education into were getting full of competitors and it was getting more and more expensive to acquire new