with zillow cofounder rich barton, ch2m hill ceo jacqueline hinman, and robert rubin, the former treasurytary and

with zillow cofounder rich barton, ch2m hill ceo jacqueline hinman, and robert rubin, the former treasury secretary and former goldman sachs cochairman. >> the government is not meeting its challenges. i think that is a real threat to our future. >> coming up -- we will hear these newsmakers weigh in on the policy and business challenges of today's economy. >> what's your sense of what is going on in an economic recovery? it feels like we are fumbling along. how would you characterize this economy? >> i would say we don't have enough internally generated growth. we can't do that unless we unlock investment and direct it to high-growth areas. we have only two options. one is not favored by the house of representatives, which is to say we have cut the deficit by more than 50%. we have to get the structural deficit down, but right now, with interest rates lower than inflation, this is the best time we will have to undertake a massive effort to build a 21st-century infrastructure. if we did that, we would have massive internally generated growth. the other option to do the same thing, which w

with zillow cofounder rich barton, ch2m hill ceo jacqueline hinman, and robert rubin, the former treasuryry and fo g

is as the nobel prize winning economy robert schiller and carl icahn warning about bubbles, and robert rubin warning about excesses in the econo economy, and not saying where. alan greenspan warned against irrational exuberance and then the bubble crash ed and so peope hear this and they say, i could make a lot of money before it crashes. >> yes, and so people need to caveat it by it may be different. if you look at how the dow is up, and the s&p at record highs, and there is reason to understand why this bull market is looking mature, and the valuations are maybe getting stretched, but the problem is whether that is a bubble, because it is very, very debated issue. one thing that feels different, chris, you and i covered the other bubbles bursting. at the time, there was a private sector herd mn mentality and everybody running in, and nobody worry worried, but they ran for the exits at the same time. and this bubble is being driven by the central banks, and they are move ning to the exit, and waving the flag, and with the possibility of the excesses they are deflating without it bursting in

[laughter] i mean, robert rubin would go, well, in all likelihood, that is about all he would say --art thomas the prophets, presented to gdp, and compensation percent of gdp. karl want to get very ora say how theycould are getting screwed over by the capitalist pigs and viva loretto revolucion. profits are below what they were in 2009, or 2007, sorry, for eight of the 10. for profits and market expansion within the corporate -- >> i think we need a new title for tobias, olivia. they can be senior vice president oligarchs. >> ouch. >> i also noticed how you pull together. question, when do the workers start to see it/ >> i think they are already seeing it? >> where? >> truck drivers, welders, machine die operators, technology, we see it spreading into homebuilder workers. look, one of our biggest shortages is people who have degrees in computer and math in this country. the guy who can dunk the ball and make $25 billion a year. i am short. i never had that -- >> what is the program being made in san francisco? >> with four or five years of a spirits, a good programmer can make $400,0

letter to the bank's chief financial officer, chief risk officer, and chief auditor as well as robert rubine chairman of citigroup's executive committee and a former u.s. treasury secretary. the letter informed them of "breakdowns of internal controls" in his division and possibly "unrecognized financial losses existing within our organization." why did you send that letter? >> i knew that there existed in my area extreme risks. and one, i had to warn executive management. and two, i felt like i had to warn the board of directors. >> you're saying there's a serious problem here. you've got a big breakdown in internal controls. you need to pay attention. this could cost you a lot of money. >> yes, somebody needed to pay attention. somebody needed to take some action. >> the next day, citigroup's ceo charles prince, in his last official act before stepping down, signed the sarbanes-oxley certification endorsing a financial statement that later proved to be unrealistic and swore that the bank's internal controls over its financial reporting were effective. >> i know that there were internal co

so the question that will be debated a lot is, the piece written by marty feldstein and robert rubin in the "journal" recently, basically saying the fed should raise rates now to ward off bubbles because it doesn't have the tools to deal with it separately from interest rates. watch for that as well. >> all right, steve. we will see what transpired out there and hear it from you. steve liesman out in jackson hole. >>> trader blitz now. four trades on four stocks making news. first up, hertz. 2014 results will be well below prior forecasts citing recalls, higher operating expenses. murph, not good. >> really not good. look at the price action here. last night stock traded around 27. where the stock opened, having a nice run-up from a pullback of 27, up $31 a share. hertz is a name you buy here. i actually bought some of the stock this morning under $28 a share. i like the setup. i like the synergies. management has to prove that they can actually turn this ship around, but if not, i think there's enough big people in there to force some sort of change on the board. i like hertz. >> wa

robert rubin, larry summers and alan greenspan were determined not to regulate, not to regulate the expandingectors of the financial economy like derivative trading and securitization of mortgages. they forced other governments to deregulate financial controls as a condition for free trade pacts and as a condition for securing financial assistance during the asian financial crisis of the late 1990s. after 9/11, memories of the berlin wall coming down whetted the appetites and encouraged officials to use strength. displace of u.s. power would be met with enthusiasm. memories of the jubilation of berliners of 1989 made them think that the toppling of saddam would be greeted with the same enthusiasm as the dismantling of the wall. on november 9th, 2001, bush 43 declared world freedom day. he said, quote, like the fall of the berlin wall, and the defeat of totalitarianism in central and eastern europe, freedom will triumph in this war against terrorism. and a little over a year later, observing the videos of the toppling of saddam's statue, secretary of defense rumsfeld declared quote, watching i

robert rubin, larry summers and alan greenspan were determined not to regulate, not to regulate the expandingnd securitization of mortgages. they forced other governments to deregulate financial controls as a condition for free trade pacts and as a condition for securing financial assistance during the asian financial crisis of the late 1990s. after 9/11, memories of the berlin wall coming down whetted the appetites and encouraged officials to use strength. displace of u.s. power would be met with enthusiasm. memories of the jubilation of berliners of 1989 made them think that the toppling of saddam would be greeted with the same enthusiasm as the dismantling of the wall. on november 9th, 2001, bush 43 declared world freedom day. he said, quote, like the fall of the berlin wall, and the defeat of totalitarianism in central and eastern europe, freedom will triumph in this war against terrorism. and a little over a year later, observing the videos of the toppling of saddam's statue, secretary of defense rumsfeld declared quote, watching iraqis one cannot think, one cannot help but think of the

robert rubin, larry summers and alan greenspan were determined not to regulate, not to regulate the expandingectors of the financial economy like derivative trading and securitization of mortgages. they forced other governments to deregulate financial controls as a condition for free trade pacts and as a condition for securing financial assistance during the asian financial crisis of the late 1990s. after 9/11, memories of the berlin wall coming down whetted the appetites and encouraged officials to use strength. displace of u.s. power would be met with enthusiasm. memories of the jubilation of berliners of 1989 made them think that the toppling of saddam would be greeted with the same enthusiasm as the dismantling of the wall. on november 9th, 2001, bush 43 declared world freedom day. he said, quote, like the fall of the berlin wall, and the defeat of totalitarianism in central and eastern europe, freedom will triumph in this war against terrorism. and a little over a year later, observing the videos of the toppling of saddam's statue, secretary of defense rumsfeld declared quote, watching i