peter cook is our chief washington correspondent. peter, who is likely to step into the void here?andidates right now that have emerged as the most viable contender. kevin mccarthy of california, number three in the house i s pick tocantor' replace him as majority leader. other names include pete sessions of texas and texas hensarling, bothn of them from the more conservative side. it is mccarthy who has the edge simply because he is part of the leadership right now. which this is happening means he has more infrastructure and immediate ability to harness the votes he needs. the real contest will be in november after the elections. there is no guarantee that anyone in leadership now will be able to hold on to that post in november. this increased the odds of a budgetary battle? >> it does. rank-and-file republicans, they are all taking lessons from his defeat but the one lesson they are taking away is that if you push things in terms of immigration reform or vote for a debt ceiling increase, which eric cantor did, you might pay the price at the polls in the future. that is a stark

going now to peter cook.ws is now cantor is stepping down, who will step or were to replace him? in the past few minutes we have learned texas republican ensurlingan jim and will not run. that leaves the competition to kevin mccarthy, majority whip in the house of representatives. he is from california and seen as a close ally of eric cantor. he is seen as the front runner. his contender will be pets -- pete sessions of texas, another conservative and someone believes a red state republican needs to have a seat at the leadership table. that is the competition. a week on today house republicans will vote on this. if mccarthy wins come it opens up his current spot. there will be competition for that. what is important is this is a very important job. he will serve out the remainder of his term, and then in november to publicans will pick the leadership or the next congress. he could see a battle at that time. kevin mccarthy, i am told by several members, the clear front runner. he reportedly told donors last ni

peter cook has the details. was the timing related here? the sec insists the timing was coincidence will but it does touch upon the market structure issues that were identified thursday in her speech. the first involves liquid net theh provides services to institutional investors. they have agreed to pay a $200 million fine for failing to keep the dark pool dark enough. 2011 it wouldate allow employees outside of its alternative trading system to access some of the confidential trading information on the system, which it then used in marketing to other potential customers. the firm did not admit or deny wrongdoing. the problem was a lack of oversight and tremendous measures are in place to prevent a recurrence. no clients were harmed in the sec does not disputed. toy jo white is proposing shine even more light on these dark pool operations and forced him to be more transparent going forward. this is an issue we are not going to hear an end of. involvesther case that securities, what can you tell us? >> the los angeles based brokerage is acc

it we begin with peter cook on capitol hill. the scramble for the leadership of the republican led house of representatives. good afternoon. kevin mccarthy is looking to move up in leadership. >> that is right. it's down to two people in terms of replacing eric cantor. it did not take long for the conversation to shift to eric cantor's loss in virginia to who would replace him as the number two. kevin mccarthy, the republican from california. pete going against sessions. he is not part of the leadership right now. he is making the case that a red state republican from the state of texas needs to have a seat at the leadership table. that is his argument. it is pretty clearly mccarthy who has the early advantage in this race. anarthy is well-liked and is affable guy. popular among the group. he is not from one of those red states. he is from california. he is popular with the business community as well. he is someone very well known in the business community. has the early edge because he runs the whip operation right now and has

peter cook caught up with musk himself. this is basically a sales trip. >> that's right.kstar ceo brought with him a very important point. him a very important toy. that's the new dragon capsule. this is the one he hopes can convince nasa they should send astronauts up to the internationals waystation. he had a big event that included members of congress. they were given the chance to sit in the seats and get a feel for what it feels like to be in a spacecraft itself. it was a real show. i caught up with him during the course of the event, asked him some questions about the capsule and efforts to reach out and the level of confidence going into this. >> i think we have done everything we can to have this be a good design. we have been a supporter in the past. we wouldn't be where we are today without nasa. i think we have shown we can do a good job and hope fully that make the difference. >> they have done cargo deliveries but nothing with manned spaceflight so far. boeing is also competing. it should get awarded in august. we could see two out of the three companies win.

bloomberg's washington correspondent peter cook has the details on the release of the latest beige book. good afternoon. >> a pretty upbeat picture of the u.s. economy in this latest a book. it was compiled by the new york federal reserve information 23rd.h may all 12 districts report economic activity expanded. seven report moderate growth. only kansas city reported growth slowing during the. consumer spending helping to drive that growth. especially car sales around the country. growth with aof mixed performance among non-auto retailers. risk growth in vehicle sales and moderate growth in tourism. sales did lag behind somewhat. words and picking up on the eastern seaboard. service sector activity grew -- most districts. there was good news on the manufacturing front. manufacturing activity expanded in all 12 districts since the previous report with a pick up in the pace of what was reported in several districts. you had activity expanding robustly in the boston am a new york, atlanta and kansas city districts. chicago, st. louis and philadelphia -- lending activity increased with two

peter cook is joined by republican congressman in new york, peter king. >> thank you.joined by congressman king, and veteran of party politics on the capital, what did you make of eric cantor's defeat? >> first of all, nobody saw it yesterday. the only question was how big eric cantor would win by. this took everyone by surprise. 7:45rd about it at about last night. there are real consequences. there is a lot of monday morning quarterback in, but i am more concerned about consequences for the future. >> what does it mean for house republican leadership -- does it expose the risk between the more conservative faction and the establishment? >> we should not kid ourselves. there is a real division. i like eric cantor. i support eric cantor, but i do or tedt the rand paul cruz wing to take us more out of the mainstream. eric cantor was able to get things done. he was very conservative and able to get things done. the ted cruz wing of the government wants to bring the government down and i'm afraid we could be going in that direction. >> have you gotten messages for more co

peter cook is still with us. it seems to me that alix steel in the -- hit the nail on the head, abram markley called -- a remarkably calm tom donohue in the face of such a striking development. >> tom donohue is one of the most powerful and respected lobbyists in this town for a reason. that was a very professional job by thanh donohue -- tom donohue, but there is no question that eric cantor is a hit to the chamber of commerce. and a hit to the business community. this is a lawmaker where ceo's came to capitol hill to talk about issues, the went to his office first. this is a defeat for the chamber of commerce. they have a lot of allies on capitol hill and are a force to be reckoned with, but they will have to deal with this defeat for eric cantor. it is not something they thought about 24 hours ago. >> peter cook, thank you. overseas, aime, standoff between taxis and is playing out. are and limo drivers bringing traffic to a standstill, protesting the reach that uber has and the threat it poses to their livelih

chief correspondent in washington, peter cook.et's turn to some hunter mercy over -- some controversy over calling taxis using your mobile phone. chaos in paris, london, and berlin. thousands of taxi drivers claim that search this is such as uber are not competing on a level playing field. one such app is called "get taxi." rick, thank you for being here. -- brooke, thank you for being here. traffic was snarled in places like london and paris because taxi drivers say this is not a level playing field, that there is something amiss with using technology to hail a taxi using these kinds of apps. what is your take? you have to be disrupting the way things are done to be innovative stop -- innovative. hail a cab, but we are working with the existing players. >> when you say working with the existing players, you mean the app connects with those taxis that are already licensed in these various cities? >> exactly. in london, we work with the metered cab drivers. in new york city, the union cap drivers. the existing drivers and we're giv

peter cook is on capitol hill. it does not sound that congress is very satisfied. right now, most members have been active on the investigation. they say they want to reread the poor in full before rendering any judgment as to whether it provides any conclusive evidence as to what took place at general motors. lawmakers,ertainly led by richard blumenthal of connecticut, who are still critical of gm, critical of the report as well. he calls it underwhelming and described it as the best report money could buy. he went on to say in a statement excepting -- he is calling for a vigorous investigation here by the justice department, but the senate majority leader, harry reid, a more measured tone. he was asked about it today. >> they were fired. you want me to put them in jail? let's have some hearings and then determine if anything illegal was done. those 15referring to people fired as a result of the investigation. meanwhile, in the house of representatives, the republican leading the investigation, fred upton, said he had unanswered questions after learning of the rep

peter cook, thank you so much for the update. want to turn back to the e3 gaming expo in los angeles, where it seems that microsoft is shifting gears with the xbox one. last year it was dubbed an entertainment platform. now it focus is all on gaming. jon erlichman is back with us now from los angeles. john, how is the strategy shifting out there? >> look, a lot of gamers are here, obviously xbox one to to focus on the group. phil spencer e3, spendso, outside a lot of time in los angeles because of the game development, the original tv series focus. i guy named armor just bought a basketball team that plays down the street, you might be spending even more time in los angeles? >> love l.a.. good show for us here. >> to emily's point, the fact that this year is really about gamers, give us context into how much gameplaying takes place on --.xbox. and how many hours per day, per week , to try to understand how focused you guys are. >> one of our focuses the xbox one was two-putted at the center of your gaming entertainment. now we ar

joining us now is peter cook. r, bob mcdonald comes to the front of the line because he is the ceo-type. the government was weighing between folks in the military, folks in the hospital industry, and the ceo types. why did they go with the former ceo? >> first of all, his name is a surprise to many because he had not been mentioned previously. the reason the president is turning to bob mcdonald is because this is someone with significant management experience. 33 years at procter & gamble, started entry-level him arose all the way to ceo and effectively the white house is saying the problems that the v.a., the corrosive environment they talked about in terms of management problems not only in phoenix but across the country, they need to be solved by someone with management experience and that is why bob mcdonald is the right guy for the job. they highlight he does have ties to the u.s. military. he served five years in the u.s. army, a west point graduate. he had an uncle who has been treated at the v.a., vietnam v

peter cook, who is in the running, who has the edge? >> the politicking has begun in always, closed-door meetings. the three names getting the most attention -- house majority leader kevin mccarthy, his close ally who is number three in the republican leadership. he is the house majority with. you also have jeb hensarling, a fiscal conservative who chairs the house financial services committee. he is not always seen eye to eye with wall street in the position. the other option is pete sessions, chair of the rules committee, and he helped republicans in 2010 gain so many seats in the congressional election. right now, the edge goes to kevin mccarthy, in part because eric cantor has given him his endorsement. >> i do not know who will actually be running. i can tell you my dear friend and colleague kevin mccarthy decides to run he would make -- he would make an outstanding leader and i would be back in with my full support. willic cantor's backing help, in part because it is just a week-long race. kevin mccarthy has more infrastructure, e

peter cook is our chief washington correspondent.lly captured the multiple fronts in the cacophony of iraq. what would you expect to be the white house work on this friday? >> i think this is a real headache for them, tom. they're getting a lot of criticism from congress, including john mccain, who are saying, i told you so. if u.s. forces left as they did in 2011, without a more substantial american presence -- this is a very tough choice for this president. it seems clear from his comments yesterday at the white house that he is going to do something here in terms of airstrikes. most likely, at a minimum. there is no appetite in washington to send u.s. troops, by any means. this is a president facing a difficult foreign-policy decision. >> in the past hour, we got a headline from prime minister cameron and his people suggesting no response by the united kingdom in terms of troops. i assume that washington will do ploy troops as well. forget about the look back. what about the look forward? what will the white house do? >> there's a

we begin with peter cook on capitol hill and more on last night shocking primary defeat for house majorityeader eric cantor. peter, let's begin on the breaking news about his future. >> that is right, his future on capitol hill will not include serving as majority leader of the house of representatives. he is going to be stepping down at the end of july from that position. at is the immediate consequence from, as you said, his stunning defeat in the virginia primary yesterday. 24 hours ago, people saw him perhaps replacing john boehner, and now, he is effectively out of a job and will be out of the leadership at the end of july, a stunning turn of events for somebody who was ratcheting to the top of the republican party leadership. it is hard to imagine this could have happened 24 hours ago, but that is what happened. a tea party conservatives, the seventh district in virginia, challenged eric cantor, saying he was not conservative enough and was waffling on immigration and even criticized him for those that feeling votes. the career for eric cantor, a young guy, only in congress for 13 ye

she is live at capitol hill with peter cook. >> i'm joined by senator war in to talk about the studentissue. thank you for your time. the president moved yesterday to make it easier for student borrowers to deal with the crushing debt burden you have been talking about stop why is it necessary for congress to go even further? did two thingst yesterday. he expanded by a few million borrowers the numbers who would be eligible for income based he promisedans and we would do some renegotiation on the servicing of the loan. but we've got 40 million people out there who owes student loans. some of them are at six percent of eight percent or higher. we've got private student loans and public student loans. the bill in the united states senate is to bring those 3.86% forates down undergraduate loans. the same numbers the republicans voted on last summer. for owns, we are going to do it to the old loans also. >> you would ask taxpayers, wealthy taxpayers to foot part of this bill going forward. that's something republicans say will never fly. you've tried to buck the rule in the past. they say

we begin with peter cook and the latest on the rapid advance by islamic militants in iraq. president obama spoke about the situation today. >> he did. he spoke at the white house before he headed out to north clear and he delivered a message. don't expect united states to arrive to your rescue in the short-term. he will consider options for helping the government take on islamic insurgents that have put the country on the brink of civil war. those options do not include the deployment of u.s. combat troops and the president conditioned u.s. action on iraqis resolving their political differences. >> we can do it for them. in the absence of this type of political effort, short-term military action, including any assistance we might provide more succeed. this should be a wake-up call. -- won't succeed. they have to make hard decisions and compromises. >> the president said that any decision could take several days. among the options on the table, u.s. airstrikes by aircraft or by drones. the president will face congressional criticism no matter what he decides. you have lawmak

it would take a lot for oil companies to pull out at this point. >> peter cook, our chief washington and why the president, you know what, peter, hang on one second because i understand the president is about to make his statement, so let's >> yesterday i convened a meeting with my national security council to discuss the situation there and this morning i received an update from my team. over the last several days, we have seen significant gains made i if il, a terrorist organization that operates in iraq and on syria. in the face of a terrorist offensive, iraqi security forces have proven unable to defend which of allowed terrorist to overrun iraqi territory which poses a danger to iraq and its people and given the nature of these terrorists, the it could pose a threat eventually to american interests. this threat is not brand-new. over the last year, we have been steadily ramping up our security assistance to the iraqi government with increased training, equipping, and intelligence. now iraq needs additional support to break the momentum of extremist groups and bowl to the capabili

. >> peter cook, bringing us this. peter, thank you so much.e following the moves and copper and the latest moves from china. the commodities report is next. ♪ >> it is time now for the commodities report. joins usgue su keenan with details. >> copper and oil in the spotlight. oil under pressure. boosting production. copper headed for the biggest gain in three weeks according to data out of china. one analyst revise sharply based on that better than expected chinese reading. morgan stanley says local demand and supply will remain tight. commodity demand outside of china is still better than expected, and commodities stocks have improved. demand has sent copper prices above futures prices. oil soaring has a lot to do with opec output. for theased in may first time in three months according to a bloomberg survey. a partner at ibm capital, i spoke to him today. he says that production will help keep a lid on prices. he says the market will come under further pressure. we are not seeing a lot of volatility though. you check out the rest of the mark

our chief washington correspondent, peter cook, joins us now. what is the president likely to say?ill have a frustrated president obama coming before the camera shortly to talk about the immigration issue. this is a president frustrated by the gridlock in congress on this issue and one that we can expect will be compelled to take , givention on his own what we have seen from the young .eople trying to cross the president described this as a humanitarian crisis. i think we will hear the president spell out specific steps he will take on on his own. among those steps whether he is directing the department of justice or homeland security to appropriate enforcement resources to bolster the u.s. southern border with more recommendations from his administration and other steps that he can take on his own to try to bolster the situation along the border. he is also going to express his frustration once again at the in action in congress. one white house official telling us that the president got word last week in a phone call that the house will not take up comprehensive immigration refor

peter cook sat down today with a woman in charge of implement in the proposal, epa administrator ginathur and -- gina mccarthy. she insists it will be a net loss for the environment and the economy. >> we hope it is a turning point from discussions about the science to taking real action, because that is the president's message. it is a moral obligation for us to address climate, and it will be one of the premier actions that this administration is going to take. thisu are convinced that is something these states across the country can, indeed implement and in -- and achieve? >> we are convinced of that. instead of establishing an arbitrary national goal for everyone to strive for, we looked at each of the states where they were and what was affordable and tactical. --s was something the states affordable and practical. as for some in the states and municipalities were already doing. this is not rocket science. this is a way for us to consistently reduce carbon pollution in a way that is consistent with the changes being made. >> the target average overall is 30% reduction by 2030, bu

peter cook is with us. houston were you last night? >> i was at a gathering here last night and somebody wrote the news. we covered this in the morning and reported that they've added brad had run an aggressive campaign. i was stunned when i first heard this news. the word spread like a ripple effect at the event i was out last night. they were members of congress there and one tea party conservative i spoke to briefly and there was some feeling of celebration in his mind because this means the message had been sent to the leadership. nobody thought this would happen. eric cantor was on capitol hill yesterday. he was in votes as late as 2:30 p.m. he did not see this coming and his team did not see this coming. it's a shock wave through washington. >> to indict remember carlos gutierrez and ted kennedy losing and immigration voted number of years ago. did washington lose the immigration debate last night? >> the first take on this is that, yes, absolutely, one of the big things dave brat campaigned on is that cantor was too soft on immi

peter cook has much more on this.he fallout since snow -- sn owden continues. >> a lot has happened in the interim period. edward snowden has sparked an international debate. he has put the united states on the defensive in that debate. he also triggered changes in washington proposals from the obama administration and from congress to change how the nsa does business. that is a work in progress right now. the business impact as well. companies say they have been overed by the debate american surveillance programs. hurt their business overseas. it has created a much more adversarial relationship for u.s. countries. >> there are also proposals to change surveillance programs. just proposals right now. no actions. >> that is right. there has not been concrete change so far but that could change in the next few weeks. movinge the president forward in january. the big idea there being the and to bulk collection. no longer with the government collect all those phone records. instead, he wants the phone companies to hold on

peter cook had more, starting with eric cantor's time a challenge in virginia. been a surprise.ss one of the most powerful members of congress would face a challenge in the first place. he could be on his way to becoming the next speaker of the house after john boehner has been a thorn in the obama administration. other tea party activists down in the area are not conservative in -- conservative enough. an aggressive campaign against kant tori in the primary, hitting him on his death dealing votes, accusing him of being soft on immigration, he is announcing a real challenge to can't tour. five -- $5.4 in million. donors is a virtual who's who of wall street and the business community. steve schwarzman, ken griffin, a long list of this this ceo's these have contributed. a lot of support from the business community. he has faced challenges and has help from outside groups as well. they supported his campaign. challenge andhis today is decision day for virginia voters in the district. press what about the outcome? any doubts? in theas been leading polls substantially. he has had to

has more, peter cook on the pic. the president is raking tradition with this pick. >> he is.ormally, the job goes to someone from the ranks of military or medical community. instead, he is turning to someone from the business sector, someone who has experience with the military. asis really better known running a company as ceo until 2013, a four-year time. this is someone in the present turning to for his management skills to turn around his agency that had so many troubles. this it will be a challenge assuming he is confirmed but it is the managing side of his experience that make him the right pick for the job in the president's mind. >> this is no ordinary project by any means. >> no, it is a difficult organization to run. it is much egg or in terms of employees. it is an organization that is basically a health care organization, one of the biggest in the country and the world. applying the management skills the white house has detailed itself, there are big robbins within the organization that need to be cleared up. they call it a culture of erosion. that is what we have

we go to peter cook in washington to talk about eric huge news.se majority leader loses in a primary. day two follow on about who will replace eric cantor. iraq is front and center. i saw prime minister cameron's comments overnight. what to do to assist baghdad with the militants. only 60 miles him a 70 miles outside active. oil higher. neil will join us from renaissance macro. talking that retail sales and the greater u.s. economy as the fed has a meeting june 18. jeffrey will join us from blackrock. talking about emergency market. he has a different view. robert wolf will join us, a supporter of president obama. about thelk to him politics in washington and the future for the republican party. so much, tom. coming up 25 minutes from now. only startuphe that has angry cabdrivers on its tail. hailo is quickly expanding its footprint. the company just announced plans to move into the market for bmws.e hire mercedes and is founder and ceo. i was on trafalgar square for 13 hours yesterday. uber said they would start hailong black cabs, what has been

years ago because -- there i am, with -- this is a darling -- this is peter kelly, he's a well-known chef in the hudson valley. he cookedi had my stuff with me. and there was -- i think i signed 300 bottles of my stuff a few weeks ago, but 700 people showed up. >> girl. >> no 2:00 was for peter kelly, who is very big. >> girl, you can turn them out, i have to say. >> the people, all they wanted to know is where is koda. where's hoda? why isn't she here? i said she went to the bloomingdale's in new york. she doesn't -- >> i was all happy to go until i realized where it was. >> outside of the -- thank you, all, so much. >> last night if you were home you may have been watching the cmt, the country music awards. they were hosted by kristen bell. >> who we fell in love with when she was just here. >> darling. here's what's interesting. the start of the cmt, the country music tv awards, guess who opened it. not who you think. not -- >> blake shelton. >> blake shelton or any of those guys. it was jason derulo who -- >> you had to remind me who that was. >> he is with jordin sparks. he's a rapper, singer. he's got a great song

years ago because -- there i am, with -- this is a darling -- this is peter kelly, he's a well known chef in the hudson valley. he cookedwas all happy to go until i realized where it was. >> outside of the -- thank you, all, so much. >> you may have watched the country music awards, they were hosted by kristen bell. >> darling. >> here's what's interesting. the start of the cmt, the country music tv awards, guess whopened it. not who you think. not -- >> not blake shelton. >> blake shelton or any of those guys. it was jason derulo who -- >> you had to remind me who that was. >> he's with jordan sparks, rapper, singer, great song. he sang with florida georgia line, luke bryant and zz top. that's how you open a -- >> i like that. ♪ find us where the party's at ♪ ♪ this is how we roll on the radio ♪ ♪ light it up with our hands up ♪ ♪ this is how we roll ♪ talk dirty to me >> not my thing. >> you know what's fun? everybody is in the tent. like there is a lot of rock leading into country. they do it for -- >> not everybody is thrilled about that. >> i love it. >> i know you do. >> hunter hayes -- >> if you're a purist about

peter to pay paul, isn't it? >> i have said that a number of times. rex well, great minds think alike. thank you. >> the chair recognizes mr. cook. >> thank you very much. i will not say too much more maybe. your report, very sensitive because i used to be an i.g. i looked at your recommendations. by the way i.g., that is a job how to lose friends and not influence people, i used to say. but it is one you have to have in an organization. your job is not to make friends. you already know that. what bothered me a little bit, and maybe if you can help me out, in two cases it had the vba, which is, help me here, that is the veterans benefits administration? >> yes. >> they disagreed with your opinion. then you had the other one where it was the undersecretary. is that the same individual? >> i would consider it the same. >> you know, these are -- i was looking at it. particularly one where the undersecretary not concurred but basically went along with it anyway. did this go all the way up to the secretary or is this something -- is that a command decision? we are getting rid of some dicey stuff in the last few days on this. i am try

peter to pay paul, isn't it? >> i've said that a number of times. >> okay. great minds think alike. thank you, mr. chair haan. >> chair recognizes mr. cook. >> thank you very much, and i won't say too much more about acronyms. maybe. your report, very sensitive because i used to be an ig. and i looked at your recommendations -- by the way, ig that's a thankless job. how to lose friends and not influence people i used to say. but it's one that you have to have in an organization. and your job is not to make friends. you already know that. it bothered me a little bit and maybe if you can help me out where in two cases it had the, the vba, which is -- help me here -- that's the veterans benefits administration? >> yes. >> they disagreed with your opinion and then you had -- the other one where it was actually the undersecretary, undersecretary. that the same individual for all intents and purposes? >> i would consider it the same. >> you know, these are -- i was looking at it. you know, particularly one where the undersecretary nonconcurred but basically went along with it anyway. did this go all the way up to the secretary, or is this some

peter to pay paul, isn't? >> i said that a number of times. >> great minds think alike. thank you, mr. chairman. >> the chair recognizes mr. co mr. cook. >> thank you very much. and i won't say too much more about acronyms, maybe. your report, very sensitive because i used to be an ig, and i looked at your recommendatio recommendations. and by the way, ig, that's a thankless job. how to lose friends and not influence people i used to say. but it's one that you have to have been an organization, and your job is not to make friends. you already know that. it's bothered me a little bit, and maybe if you could help me out, where in two cases it had the vba, which is -- help me here, that's the veterans benefits administration? >> yes. >> they disagreed with your opinion, and then you had, the other one where was actually the undersecretary, is about the same individual for all intensive purposes? >> i would consider it the same. >> -- intents and purposes. >> i was looking at it, particularly one where the undersecretary nonconcurred the base of went along with it anyway. did this go all the way up to the secretary, or is this something,

cook our favorite recipes. who's going to win the golden spatula? >> we always have to make it a competition. >>> let's check in with peter a alexander in for natalie.ndiana. dozens of cars and homes were badly damaged, but residents had time to take cover. >>> american special forces are now on the ground in baghdad on their mission to gather intelligence. also to advise iraq's army as it drives to push back sunni militants. although parts of the iraqi army have rallied, the front line is now just 20 miles outside baghdad. >>> former president bill clinton is defending his wife hillary against critics who say the wealth puts her out of touch with voters. an exclusive interview seen here on "today," he told david gregory his wife a possible white house contender still understands the struggles of ordinary americans. >> but she's not out of touch. and she advocated and worked as a senator for things that were good for ordinary people. and before that, all her life, and the people asking her questions should put this into some sort of context. >> the clintons left the white house several million dollars in debt. most of their fortune has come from boo

cooking up our favorite fourth of july recipes. who will win the coveted golden spatula? >> we'll find out. >> let's check in with peterp. here are the day's top stories. >> good morning. survivors are praising early warning systems for preventing any deaths or injuries during tornadoes in indiana. residents had time to take cover. this morning the biggest chore is restoring power lines brought down by fallen tree limbs. >>> american special forces are now on the ground in baghdad on their mission to gather intelligence. also to advise iraq's army as it tries to push back sunni militants threatening to overrun that country. although parts of the iraqi army have ral lilied, richard engel reports the front line is just 20 miles outside baghdad. >>> former president bill clinton is defending his wife hillary who say the clinton's wealth estimated at $100 million puts her out of toech with voters. mr. clinton told david gregory his wife, a possible white house contender, still understands the struggles of ordinary americans. >> but she's not out of touch. and she advocated and worked as a senator for things that were good

cook mind. choose the stories get inside the mind. choose the access to go off to. welcome back to cross talk where all things are considered on peter lavelle to remind you we're discussing the ongoing crisis in ukraine. patrick i want to go back to you in new york in broad strokes in your mind what's drives this because there are so many different layers here we have nato expansion we have asset stripping we have any. state department it is just has to go after putin and russia because of what happened in syria because putin saved the day saved obama from going to war in another arab country but what in your mind what is driving this if you would if i would ask you in a hierarchy what's the number one thing or is it just autopilot well there is some autopilot in it actually i haven't used the term i think it's a determination to i think it's a larger than nato ok i think nato is essentially an instrument and a means to an end i think the end is the extension of the neo liberal order. with that in mind i want to go to two points daniel made one. there is a skills deficit in washington for one perfectly ordinary reason washington has

peter cook, thank you so much. >> coming up, how to build brand royalty.is more than rebates and discounts. we'll find out how to really make it work. stay with us. you are watching "market makers" right here on bloomberg television. ♪ >> you're watching "market " here on bloomberg television. i am erik schatzker with stephanie ruhle. is there such a thing as brand loyalty anymore? i am serious. if you did not have those sky makos asked skymiles in your >>ox, would view them -- skymiles in your inbox, would you view them as good or bad? how do you build brand loyalty? buildcdonell, how do you real brand loyalty because, like 83,000 if i have skymiles i will want to fly delta, but if i do not, it is whoever has the cheapest ticket. it is a commodity. >> it is a great question. we just completed a survey of 12,000 consumers. what we find is where there is an alignment between the actual program -- you mentioned skymiles, that is one of many. where there is alignment between that program and the brand itself in your expense with the brand, you have brand loya