now this is not to say that schwab ward in 1938. he grew. i'm a business man and economist, and also a professor. then out of nowhere at age, 33, in 1971, became the founder of the world economic forum. so from birth to 33, nobody really knows. well, he did eventually marry a woman called hilda, who he met just before the launch of w e f, and married her in 1972. so she's approximately 10 years his junior class and hilda have 2 children, nicole and only be a they all serve in chair positions at w e. f. but this is about as much as the media knows about klaus it seems his childhood is a mystery. who was his best friend as a boy? did he have any girlfriends? did he play any sports? nobody knows. it was as if one day he was born. and suddenly he was an adult and founded the w. e. f. it seems klaus, his personal history only begins there in 1971 to talk more about schwab and the w e f. we are being joined by economist and an author of several books. his latest book is called the evil twins of technocracy and trans humanism. that book is out now.

is clos, schwab and influencer. absolutely. but as he really a substitute controller, i dare say no, he's not pat. this has been enlightening. it's unfortunate. i have to leave it right there. i am out of time. thank you so much. patrick wood is the editor at technocracy dot news. and that's is going to do it for this week's episode of modus operandi. the show that dig deep into foreign affairs. i'm your host manila. chad. thank you for tuning in. we'll see you again next week to figure out the ammo. ah. what we've got to do is identify the threats that we have. it's crazy even foundation. let it be an arms race is often very dramatic. development only personally and getting to resist. i don't see how that strategy will be successfully very critical time. time to sit down and talk ah ah her a fresh clashes a rough between israelis and palestinians near jerusalem after the idea afraid the opposite boss for the 2nd night in a row or thing muslin, worshippers out of the holy sites. south african employees protest outside the u. s

and it was at harvard that schwab met henry kissinger. and kissinger, being a little bit older than schwab, was, became a mentor to him. he was an engineering student, actually already had his engineering doctorate, but he was an engineer. he was also interested in political science and economics. kissinger took a liking to him and not just because they both had a accent some sure. but he took a liking to him and kissinger role at the time. he was very much a known as a rockefeller man. at that point, he was working for richard nixon, of course. but both nixon and kissinger were considered to be rockefeller. people are agents of the rockefeller dynasty, if you well, and their goal was to expand beyond the united states and other parts of the world . that's what the trilateral commission became. they, they went into gibbon, japan, and europe in north america. 2 to try and influence economic policy around the world. they call it the new international economic order back in those days. and schwab being from europe and from germany at that po

to talk more about schwab and the w. e. f. were being joined by economist and an author of several books. his latest book is called the evil twins of technocracy and trans humanism. that book is out now. patrick would. the editor in chief at technocracy dot news is here with us. pat, thanks for being with us. first, can you clue us into klaus swamps early life? why in this day and age? is there such scant information about his background? i mean, for a man as famous and powerful as he. how can there be such a gap in his public history? part of the reason is, is because clash was got involved with a group of people that were at the time moving towards the creation of a very important international group called the trilateral commission. that was founded in 1973 by david rockefeller as a big new brzezinski. at the time, a few years earlier, schwab was at harvard university. and it was at harvard that schwab met henry kissinger. and kissinger being a little bit older than schwab, was, became a mentor to him. a, he was an engineer

joining us to talk about this and more in a cnbc exclusive, charles schwab ceo walt bettinger. thank you for making the time. nice to see you. >> good morning, sara. thanks for the invitation. it's wonderful to be with you again. >> we have a lot to work through. let's start on deposits because i mentioned the quarterly decline. 30% down from where they were last year. i know the market expected numbers like this, but it doesn't feel like there's a ton of confidence that that issue is over is it? >> well, what we've seen is we've seen investors make the very natural move that they should make and that we've encouraged them to make. and that is as rates have gone up, they've moved from transactional cash relatively lower yielding bank deposits into higher yielding solutions again, all at schwab when we look at the trajectory, in other words, the daily movements, february was lower than january, and then march was lower than february. particularly if you make adjustment for the one day in march right after the svb issues and april is lower than march, and measurably lower even ta

we have charles schwab. today, the big take is a fascinating piece.althy clientele who were interest only mortgage payments. with riskier borrowers, it was a fascinating read. i recommend it. here to discuss is jenny. walk us through what you found as you were doing the research. >> i think to take a step back a little bit, a lot of folks going into this earnings season have been looking at the unrealized losses sitting on the banks balance sheets. it was the bonds they were invested in in 2020 and 2021. those bonds have lost value. in first republic's case, that is a small portion of the under balance sheet. a much bigger portion comes from their mortgage book. what we learned is the vast majority of their mortgage book is these interest only loans. and so, the banks, rates have risen so quickly that they have had to write down the value of these loans. we reported previously that they are looking at potentially selling themselves. that has made it really hard. a lot of buyers, as they look at this, would instantly have to recognize that loss. it has

to talk more about schwab and the w. e. f. were being joined by economist and an author of several books. his latest book is called the evil twins of technocracy and trans humanism. that book is out now. patrick would be editor in chief at tech, not receive dot news is here with us. pat, thanks for being with us. first, can you clue us into cloud swamps early life? why in this day and age is there such scant information about his background.

all right, so, why do you like that one, schwab why that pick? >> everyone's pessimistic about this space and i feel like this stock is passed up in the draft, kind of like me, so a little personal. >> all right, let's get some reaction from melissa and time, what do you guys make of it? >> pretty personal with mr. c.j., tell you what, i said this is one of the picks, this would be a number one pick based on the performance with what's happened to the banks and we talked about this on "fast," what does schwab need to bring back the company a lot of the banks are beleaguered. i love this pick especially for this draft. >> it falls into the category of things that go from terrible to not so bad in order for it to be a winner >> i like it. >> charles schwab. time now for students from the rutgers investment club to make their pick, we're excited for the first time since 2019 we have a stock draft team here in studio with us here's becky wick with some words of encouragement >> today's the day the day we've been waiting for the cnbc stock draft i'm w

schwab and m and t, you can see, are having a pretty decent day, schwab's up 2.5%, m&t bank is up 6.8%. both are getting cheers from informs -- investors after the who the beat expectations. state street is down 10.6% due to its 12-cent profit miss. and here comes not just more bank earnings, but quarterly reveals for big tech, telecom and farm hama names. on your -- pharma names. goldman sachs and j&j tomorrow, wednesday tesla. thursday, at&t, american express and rite aid, and friday, procter & gamble. analysts say first quarter earnings for s&p 500 companies probably going to fall 5.2% compared to to last year, and revenues are expected to rise just 1.6% year-over-year. so why the less than thrilling outlook? well, nine interest rate hikes in a row by the federal reserve have made it more pensionive for companies to borrow money to you. you can see the effect on both the 10-year and 2- year yield. while off the highs of the last year, both are climbing back to march peaks. is a tenth rate hike coming? the market thinks so. this is the very latest number here, fed fund futures indica

it's not a schwab story.for every publicly traded company, the finteches, the regionals, the thrifts, you name it it's a different environment where people are paying more attention to that, and if that's the source of a lot of your profit, that's why you have a stock price rerating downward. >> and it's already happened it just feels to me as if this is a late call >> let's talk about that spread again. they're still making a ton of money. i'm sure we're all having our clients ask us, hey, i have cash here should i move it to schwab or fidelity even based on three and six month treasuries, even those as an investor, you're getting, what, 4.6% right now and what's the three-month treasury at? six-month treasury 4.8 or 4.5 they're making a spread. they're still making a ton of money. >>> coming up, the perfect stock to own in this climate is what one of our traders is calling this name, shares are moving higher on earnings the name and the trade next. i think i'm ready for this. heck ya! with e*trade you're re

but not much else is known about klaus martin schwab. he was born in 1938. he grew up, went to university, became a business man, an economist, and also a professor. then out of nowhere at age, 33, in 1971, became the founder of the world economic forum. so from birth to 33, nobody really knows. well, he did eventually marry a woman called hilda, who he met just before the launch of w e f, and married her in 1972. so she's approximately 10 years his junior class and hilda have 2 children, nicole and only be a they all serve and chair positions at w e. f. but this is about as much as the media knows about klaus it seems his childhood is a mystery. who was his best friend as a boy? did he have any girlfriends? did he play any sports? nobody knows. it was as if one day he was born. and suddenly he was an adult and founded the w e f. it seems klaus, his personal history.

i thought schwab is good then schwab went down in value now it's funny you look at schwab and think maybe they should have bought goldman. >> speaking of m and a, the journal says that exxon had talks with pioneer on shale. no formal process here >> he's got a conference in june, of which scott is the key note now, we get some differing ages whether he's 70 or 71. young. you have to understand that this stock traded at 287. it's not like sheffield is going to say i'll sell for 240 it's going to have to be a three handle the idea it's only a 12 is daunting to me i've been behind scott forever, but you have to understand, he's not going to sell for less than traded at. they have a huge amount of cash. they can't do the buyback they would like given the fact that washington is all over them. 600,000 per day, these guys are some people say a $15 all-in cost no somebody will say it's $15, but let's call it 20 the company is making a huge amount of money. scott is very committed. thinks the stock is undervalued. why would he say -- the stock was at this level not that long ago. >> interesting w

i'll get to that in just a bit but charles schwab is the biggest bunch in a mixed report card, mostlyarles schwab saw a drop of 30% in their deposits after the silicon valley bank collapse and that's why it's now pausing on buying back shares in order to preserve cash. never a good sign, but here is the good part of the report card is that customers are actually putting in investment dollars so they are pulling out deposits putting in investment dollars into charles schwab, $132 billion in new assets in the first three months of this year, $52 billion alone in march, profit beat sales missed. stuart: that sounds promising and i notice schwab is down nowhere near as much as state street, but they are really weighted 15% right? >> yeah, so member charles schwab is down 38% on the year, state street this was a terrible report card so they missed on sales and profit, management fees are down but good news is they do expect a recovery of sorts in sales in the spring time. stuart: banks weak but the crisis is winding down can you say that? >> yeah let's take a look at the smaller regional b

. >> charles schwab executive said the firm can whether the u.s. banking turmoil even as deposits. >> taiwan is set to buy up missiles to help repel a potential chinese invasion. take a look at how futures are coming online, not a lot of movement right now. u.s. stocks pushing slightly higher, recent losses in the afternoon session, but investors still on the sidelines. we do have bank earnings and the possibility of further fed tightening. we got the hawkish fed speak but also data showing u.s. factories expanded. mixed signals coming from the banking sector. clients retreating from their investment products, treasury yields higher, dollar higher, the crude was under pressure in the new york session. i was talking about the hawkish fed speak we got from thomas barkin, who wants to see evidence that pressprich is her easing. this comes as we get more hawkish fed speak. we had some signs with data last week of easing price pressures, but fed officials have stayed true to fighting inflation, especially given we are seeing the strength of the u.s. emp

what about that schwab fallout?you know with every company that has something called a bank charter is different, you've seen from venture capital banks deposits not stable, all of us analysts in this industry expected deposits to drop period. one of the reasons was all that stimulation from the government. that money intoent the bank accounts whether triple fee or any other programs that were out there sending chebs to people, they were going to use that one of the small banks i was talking to recently saw average balances from 13,000 to 13 -- 13,000 for individual consumers to 9,000 there it is out there spending money spend cigarette savings, this was all expected. anybody surprised about this in deposits i don't know where they've been when deposits zero check account a t-bill over five before silicone valley failed people do that corporate treasures looking okay wow, i am not insured, spread it out a little bit banks multiple charters, banks that are too big to fail you know, from safety perspective but communi

the interesting one is the regional banks this week. >> you have charles schwab shares down 30% sincevb collapse potential to get into the stock. >> for more on the bank earnings stat stateside, check out cnbc.com. >>> and merck will buy prometheus bio-sciences. merck is expected to pay $200 per share for the firm a 75% premium to the friday closing price. i believe we have a pre-market indication for prometheus. this is a huge deal around $11 billion. merck market cap is $300 billion. it is a huge deal. we knew merck was out there looking for a target they were trying to diversify the portfolio in losing the cancer drug coming up. this was expected by the market. we didn't know where they would land >> it is building on growth. >> exactly. >>> we have more deal news to highlight. video game company sega offered to buy rovio entertainment the company behind angry birds it would help sega expand to europe >>> and sales s rose 9% from renault. the automakers said worldwide sales increased 350,000 units. we will look to see if the restructuring is paying off after declining revenue. >>>

they have to pay it back, and it weighs on earnings schwab, we're going to talk to schwab in the nexts on at 11:00 not from the fed windows but they've been borrowing to boost liquidity and weight on earnings looking for to that at 11:00 let's bring in markets commentator mike santoli with his take on the action this morning. stronger dollar, higher treasury yields, hawkish fed speak and yet, stocks have taken it okay. >> taken most okay and it's almost because the concerns tend to offset one another as we go along. i think it's confusing tape. it's a noisy macro environment nobody has high conviction in it the bullish situation would be -- this is probably counterintuitive we're in a recession right now statistically in the middle and can see clear out of it. there's some coincident indicators that suggest maybe we're going to have that case. when we're in the waiting mode, on saying you still have good enough economic data for the fed to remain vigilant so we have to worry along that rail and the other rail, well looks like the economy is kind of in stall speed at best even if the p

. >> nobody chose schwab i thought you guys were going to go there on monday, schwab reports and thisnvestors really worried about. >> i think the good news is if no one's hanging on the edge, i think there's some sense we're not that worried about the flight of assets and look, i'm not going to make a call on where schwab is other than i've heard the same things they've told the market. i think a function of the lack of concern is a good thing, and i think the market traded like that. >> to your point, haven't seen these stocks recover. >> no bounce. >> had not have any substantive bounce off those lows. >> right so if they're not worried are you a buy? >> i'm not a buy. >> not there yet, but we'll all be watching. >>> when we come back, should you add this name to your shopping cart? the at list that could get this stock to rally it's our call of the day next. you're watching "fast money" live from the sdnaaq market site in times square, manhattan we are back after a quick break. at the end of the day, my mom raised three children, including myself. and so once the client knew that

the flow show was brutal at state street and at schwab. this would endure especially if rates get to 5%. this is just an educated and much more savvy retail investor. we have choices and power. charlie: that is exactly right and so in-line line with the ceo of state street and what he said yesterday, customers have alternatives. when you look at the numbers customers withdrew $26 billion from state street investment products. the estimate had been inflows of $8 billion and a year ago customers added $51 billion to state street. that really surprised investors yesterday and made that stock the worst performer in the s&p 500. it was also bad news for schwab, which also reported earnings yesterday. their deposit base compared to a year ago was down 30%. schwab's stock has been under a lot of pressure over the course of the spanking drama. their share went up a little bit because that 30% drop was very much in line with patients, but it's the same story. depositors right now are in a very flighty mood. tom: you talked about the choice we got a

tesla, netflix, as we said, a bunch of s&p, dow components, schwab and m&t crossing the tape this morning>> google's ceo is saying that a.i., well, there's a warning there. society isn't ready for its rapid advancement, and that "it can cause a lot of harm. and as carl mentioned, it is spacex's most powerful rocket launch ever. we're going to bring you starship's maiden voyage that's going to be later, live this hour. >>> let's begin a new week for the markets and a busy earnings calendar, jim. we have 30 s&p'ers so far. best week one in a decade. >> look, we came in with the lowest expectations. last time i was reading back over at jpmorgan, this may have been the best jpmorgan quarter not a lot of loan losses, huge amount of business, obviously, took in a lot of money in the second half. they made a lot of money because people have not really pulled out of the low yielding to go into high-yielding yet david, throughout the ones that we saw last week, people just aren't that savvy, and they're perfectly willing to keep their money in the bank and not move it to something higher yielding

today we're talking about cloud schwab, who's reach from the world economic forum has no borders. just who is this man and why do elected leaders? listen, they have. all right, let's get into the the me, the year was 938 germany saw the rise of fascist dictator adolf hitler. klaus schwab was born into a nazi germany on the 30th of march that year. now later that fall, crystal knocked the night that saw thousands of jewish people rounded up by the nazis of pogrom. that would start what the world now knows as the holocaust. now this is not to say that schwab had any ties to the nazis, but a young klaus certainly spent his early years under a fascist ruler who had dreams of a one world order lead by nazis. psychologist today regularly say that these early childhood experiences shape the adults that we become not to mention our parents and caregivers experiences. so that theory holds true the world economic forum founders advocacy.

17 top stories right now 8:01 east coast, today, first-quarter earnings season full swing charles schwab kicking off banks out about 45 minutes then you've got bank of america goldman sachs morgan stanley out later this week all about financials, and the broader s&p begins reporting first quarter this week. markets, well we are at highs of the morning right now take a look at futures ahead of earnings dow industrials up 72, nasdaq off lows but down 1 and 3/points s&p 500 up 6 points, fire last week the dow industrials outperformed, on week last week the dow up 1 1/4% nasdaq up a quarter of one percent the s&p up /4 last week house speaker kevin mccarthy headed to new york stocks exchange 10 a.m. eastern a speech about economy raising debt ceiling says there is a debt crisis and he wants spending cuts on the table from the administration. oil prices meanwhile pulling back international energy agency is warning, that prices will go higher again later on this year, and we are at elevated levels brent at 85.18 down a fraction this morning crude oil under 28 dollars a barrel, down two-thirds

second example charles schwab. in the last month we heard more negatives about it than any other time i can recall. how clients were fleeing and caught with a mismatch with skittish depositors and unrecognized losses of their bond portfolio i said it was all nonsense i know i'd get laughed at. youtube showed it to me, twitter. then schwab reported yesterday and learned that, indeed, most of the negatives were flat out untrue in many cases there were lies promoted about i competitors short sellers, lazy journalists. if you believer me read that conference call where the ceo tees off on everyone who libel his company because no one will investigate what happened. like nvidia i'm not here to say how much i love schwab but to show you once again this may be the worst time to invest but when a company can see its stock falling more than 30% when there was nothing wrong, worst time to invest but invest. finally let's talk about today's travesty i could do one a day and call it the kramer travesty show johnson & johnson,

we will dig deeper coming up and on the top gainers on the s&p, schwab shares moving higher by 4%.ny signs of confidence, the markets will take. some of the client money that came into schwab in march was seen as a boost in confidence to that company. kriti: a lot going on. waiting for the economic data. inflation numbers will be crucial. especially as we get it snapshot of the health of the american economy. stephen was shadow -- stephen had this about the recession. >> even the retail sales numbers at the end of the week are going to unfold, they are going to tell you there is more resilient in the economy than he thought. we're going to go to a second half of recession but not all are created equal. some recessions are shallow. some are very deep. jon: one read of the economy can be seen through chipmakers, samsung and taiwan semiconductor cutting this. we think about the memory chip production move and the market reaction, walk us through what it signaled to some of the other players. >> that is the point. samsung's largest memory chip maker when prices -- samsung keeps powerin

charles schwab executive say the firm can withstand the u.s.sing stock buybacks. the company's first-quarter results showed profits climbed 12% from a year earlier, beating estimates. citing regulatory uncertainty, saying it plans to focus on clients in the long term. lack rock will begin selling securities of failed banks, launching a process to help the fbi see afford billions of dollars in assets they picked up from silicon valley bank and signature bank. blackrock's financial advisor unit will launch sales tuesday and continue with the process. >> these are some of the stocks we will be watching when trading opens in korea and japan. we are watching asian shares related to cryptocurrency. bitcoin dipping below $30,000. -- has offered to buy -- entertainment the creator of angry birds. -- says talks are underway and a final agreement should be reached in a matter of weeks. plus, -- companies releasing earnings today. big interviews coming up today from the shanghai international auto show. stick around for our exclusive conversations with ex

let's talk about charles schwab being in the headlines. what's the latest with this company?y reassured investors but on a thursday heading into the long weekend which i found surprising since markets aren't really open today , but you have charles schwab saying they took in $53 billion in new assets last month. that is encouraging especially after the silicon valley bank collapse, and don't forget that charles schwab the stock dropped about 37% in the first quarter of this year. that's the worst quarter since 2008, the financial crisis for schwab and there are concerns about their balance sheet, especially as it looks pretty similar to svb. remember they have these longer- term duration treasuries that they have to hold to maturity, and the yield when they bought them was only at 1.7 % and now the yields are at 5 % so you're losing out there, and now jamie dimon also with a new interview this morning on cnn reiterating he says look, it's not 2008, but these banking collapses and crisis does increase the risk of a recession ashley: all right, fantastic run -through as always,

we get charles schwab coming up.how much are they continuing to see outflows at a time where it is not necessarily credibility? this is a question of, if you can get 4%, five percent on t-bills, why are you holding in cash? jonathan: not just about return on capital, but return of capital, which was the story of the stress of the last month. brad bauer was in the studio listening. wondering if he should hide under a rock and run away. did any of this resonate with you? >> i think there is a ton of challenges out there in the market. i think this idea of a bifurcated market, things moving different directions, is why we find ourselves within unchanged market this morning. which is symptomatic of what we have seen the last week. very low, realized volatility market. jonathan: fed borrowing data, stable the last week. bank lending data on friday, picking up again. some positives. lisa talked about stabilization. is it too early to sound the all clear? lisa: i think maybe. >> we saw one of the first banks reports, the la

m&b, charles schwab in the green. >>> stocks losing some early morning gains. we're lower across the board, nothing extreme. treasury also selling off and the dollar is rising the s&p 500, little change topping the tape for us, bullish numbers for investors to digest. bank of america saying the earnings picture it looking good 90% of companies have beat on earnings, the highest post-one week surprise statistic in at least 20 years yes, it is very early into earnings season. the percentage of up days of the past 20 reaching 65%, the highest since november 2021. >>> manufacturing activity in the new york region turned positive for the first time since november that new york fed manufacturing reports also showing lower prices both paid and expected, which is a good sign on the disinflation story as well potential sign manufacturing is bottoming out. at least in the new york region. >> prices paid, they were at 41, they go to 33, which is below 50, yet yields climbed on that report because we were looking for a negative headline and didn't get it. >> better manufac

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. >> the name schwab >> everybody likes to hate on schwab it is not that bad yes, they are seeing thentioned multiple times and they will not have to sell the hold to maturity they can sell all of the deposits and still not sell the hold to maturity i see schwab as highly diversified. they gather assets any market lift is good for the asset management and fees. it is an a tttractive valuation after the turmoil. every financial will be facing that headwind of maybe we have high regulatory costsma marginis >> thank you, victoria >> thank you, frank. >> one last look at the futures. s&p down 1%. that will do it for us here on "worldwide exchange. quk x""sawbo is coming up next thanks for watching. ♪ welcome to a new era of flight. >>> good morning new york fed president john williams thinks the economy can avoid a recession this year. details straight ahead. >>> earnings movers. ibm is up. tesla is down. we bring reports from at&t and american express and more regional banks which are suddenly something we talk about. >>> and an attorney reviewing the question that taylor swift asked ftx

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when i think back over the earnings period, how is it possible so many people asked me if charles schwab crisis intact, as if the bankers interviewed on our air meant nothing, made reassuring comments, they were doing fine, ceo had bought a ton of stock but schwab reported, it was all true, absence of capital flight, i find it aggravating that people took the story so seriously, like schwab was in danger of going under. in reality they lost a little bit of earnings power, wasn't a big deal management told you that repeatedly, i told you that repeatedly, didn't stop the endless questions about the viability. looking pretty strong today. that's why i think we need a -- that's of no consequence mentality -- when something sounds bad but not when you bore down making a mountain out of a molehill to sell more papers, this time to get more eyeballs it's not just one company. netflix reported last night, momentous? not really doing better some things, worse in others. monetizing the library small selloff, wake me up when something interesting or important happens. yesterday, the decline of j&j,

they don't read how schwab's book covert 19. the great reset was written for months into cove. it anybody has written a book or as read a book knows that's impossible to do. so as more and more is known, more is more is going to be revealed of how much planning went into what we're experiencing right now. matthew, i'm interested to know. did you found face any censorship or shadow manning on social media with your distribution? oh, most definitely. um i oh i on facebook. i tried to use up. i mean it's not face my you to buy uploaded the trailer and it won't even let me upload it. the algorithms are so good it, it knew what it was about. i guess i won't even let me upload it. you to was controlled facebook's control. we know this because in the senate hearings or congressional hearings, they never asked the tough question with these monopolies these, these, these companies are acting like utilities. they're, they're, they're funneling in a lot of information which supposed be open discourse and they're neutralizing, they're cutting you off. they're given you ban strikes, whateve

announcer] "firing line" with margaret hoover is made possible in part by robert granieri, charles r schwab, the fairweather foundation, the margaret a daniel loeb foundation, the asness family foundation, jeffrey and lisa bewkes, peter and mary kalikow, and by craig newmark philanthropies, the rosalind p walter foundation, damon button, the center for the study of the international economy, inc., the pritzker military foundation on behalf of the pritzker military museum and library, and the mark haas foundation. corporate funding is provided by stevens inc. - andrew weissmann, welcome to "firing line". - nice to be here. - as former president trump was entering the courthouse in lower manhattan, you said it was both "sad to see "and also affirming of the criminal justice system." why? - it, there's no question it's sad to see the debasing of the white house, that you had somebody who committed these alleged crimes in the white house. when you read the charges, the actual payments were being made while he was president of the united states. and that to me was the part that's affirming of th

we'll get charles schwab results later on this morning.e big one. tomorrow we get western alliance bank out there and we'll see whether or not some of those particular battled are taking big are hits. >> not that charles schwab is just a bank. if does have a bank on top of the trading operations there have been so many questions asked about cash sorting. that's where people have been moving i'm trying to give you time while we talk here jump in. >> it's 93 cents a share adjusted versus expectations of 09 c 90 cents the stock is indicated higher. up 23 cents there. not much there new assets, 150.7 balance revenue, 5.2, slightly below 5.3 is what the street was looking for. new brokerage accounts, 1.04 million for charles schwab, total client assets, 7.58 trillion, net new assets 150.7 billion. 3 cents ahead of expectations. i don't know how they normally do in any given quarter but that seems like a lot >> some of the stuff was cash deposits had gone down in that bank they had 376 billion at the end of the fourth quarter that was down 17% y

schwab, the fairweather foundation, the margaret and daniel loeb foundation, the asness family foundation, jeffrey and lisa bewkes, the beth and ravenel curry foundation, peter and mary kalikow. and by: craig newmark philanthropies, the rosalind p. walter foundati, damon button, the center for the study of the international economy inc, the pritzker military foundation on behalf of the pritzker military museum and library, and the marc haas foundation. corporate funding is provided by: stephens inc. - david french, welcome to "firing line." - well, thanks so much for having me. i appreciate it. - you have said that the greatest threat to america is the ever deepening polarization throughout the country. president biden announced this week he is running for reelection. the prospect of another trump-biden matchup appears likely. and i want to know what impact you think this will have on our country. - i think the top line is if trump wins the republican nomination, the campaign is going to be incredibly vicious. the campaign is gonna be incredibly divisive just by its nature and the nature

schwab, the fairweather foundation, the margaret and daniel loeb foundation, the asness family foundation, jeffrey and lisa bewkes, peter and mary kalikow and by craig newmark philanthropies, the rosalind p. walter foundation, damon button, the center for the study of the international economy inc, the pritzker military foundation on behalf of the pritzker military museum and library and the mark haas foundation. corporate funding is provided by stephens inc. - governor wes moore, welcome to "firing line." - it's great to be here. - in november, you became the first black governor of the state of maryland. a political newcomer, but a "new york times" article from 1996, when you were just 17 years old, noted that you had your sights set on politics even then. what took you so long? - [laughs] well, you know, i have consistently been trying to figure out how exactly do you make your impact in the world, right? i mean, it's not lost on me that i'm coming off of inauguration where i was decades removed from being a kid who was the the son of an immigrant single mother who was raising three ch

schwab, the fairweather foundation, the margaret and daniel loeb foundation, the asness family foundation, jeffrey and lisa bewkes, peter and mary kalikow, and by craig newmark philanthropies, the rosalind p. walter foundation, damon button, the center for the study of the international economy inc, the pritzkerilitary foundation on behalf of the pritzker military museum and library, and the marc haas foundation. corporate funding is provided by stephens inc. - thomas chatterton williams, welcome to "firing line." - thank you for having me. it's a pleasure. - you're a contributing writer at the atlantic, a nonresident fellow at the american enterprise institute, and a visiting professor at bard college. you have written two memoirs, the most recent titled "self-portrait in black and white: unlearning race." you're the son of a white mother and a black father from the south. and you grew up identifying as black. in fact, in 2012, you wrote that mixed-race people have, quote, "an ethical obligation to identify as black." but then the following year, something fundamentally changed in your l

it has been a long road, but now i'm working for schwab. i love to help people understand the world through their lens and invest accordingly. you can call us christmas eve at four o'clock in the morning. we're gonna always make sure that you have all of the financial tools and support to secure your financial future. that means a lot for my community and for every community. >>> we want to bring in chief legal correspondent jan crawford to help us understand what is going on legally when it comes to abortion access and this pill. jan, it's good to have you here. we know the supreme court overturned roe versus wade back in june. they sent the decision back to states. now we're back at the supreme court talking about abortion access again. will they hear this case on the pill? >> well, i mean, no, i don't think so. first of all let's think about what they did last june. they said in that decision there's no constitutional right to abortion, states can decide what they want to do with it, let it play out the political process and that's what

so it's not even, to me, i'm looking at it and i'm thinking, oh, my god, schwab?s the seventh largest bank. it's not regional. >> yeah, it's a very large bank. but like other ones, it has a large, significant number of uninsured deposits -- liz: i mean, are you worried about them? >> i don't want to comment on a specific bank in specific. i would say that many of these banks is significantly challenged -- [inaudible] insure deposits, they pay more for them now that interest rates are much higher. even the larger banks will have to the figure out what to do when depositors realize they can earn 4-5% even on insurance policy when you're getting close to 0 on your to deposit right now. i think the entire banking system, we're deluded that deposits were sticky. now they're 5%, you can earn 5%, where would you put your money? liz: exactly. well, hen what about this? you have said you're not a perma-bear although as long as i've known you, you're calling for some disaster right and left. but this time you say you are looking for signs that the market has bottomed, and y

schwab got very big. they were bigger than u.s. bancorp.t was because of the fed and wait injected into the system. that will go the other way and the bank will get much smaller the next year. morgan stanley, will it be the jpmorgan of next week? >> i think it will have balanced results. they have a huge asset management business that balances it off. and they have a nice bank. they have a half trillion in bank deposits. they are the two winners in the asset category. >> goldman had a tough time last time around. >> they don't have a bank. they are a big broker dealer. >> do you think they will be forced to buy one? >> or they get bought? liz: by whom? >> that's the question. you have two institutions with good capital markets and no core funding, really. the dream transaction, put them together with u.s. bank, then you would ha have a to colossus. liz: there is the closing bell. red on the week. but we see the majors moving into the green. that will do it for us. have a great weekend