another one is larry summers and gene sperling.hey're all over bought particularly in democratic administrations. what he is talking to people on wall street, that speak to me, unfortunately for him. he is likely to leave next couple months. adam: i wants to make some money. >> near the end of his tenure with had job with the obama administration. it is unclear what he wants to do, why he is doing it. people on wall street are telling me it's the obvious reason. guy's been in government a long time. been out of government somewhat. in 2008, right before the obama was elected to his first term he was counseling wall street firms. made a few bucks from goldman sachs, did some peach speeches and that's where a lot of people are speck laying he is going. he is telling people he is definitely out and going to leave his post. the guy likely to replace him, jeff sites, on the short list but who knows. senior advisor to the president. businessman, entrepreneur. acting head of omb we understand set guy on the short list to replace sperling.

that could be the thing with sperling.he same reasons that bill daly left as chief of staff of the obama administration. those jobs during the obama years become almost secondary when it comes to economic policy because the president leans so heavily. she is the power center of this administration both from a domestic policy standpoint and a domestic economic policy standpoint so those jobs become less important in the scheme of things. not unimportant, but less important. cheryl: charlie, thank you for calling in with that huge breaking news. charlie gasparino, our senior correspondent with some market moving news on the administration. we want to check in on the market. we are actually session lows right now. lauren simonetti on the floor of the new york stock exchange. syria is the situation, are there any other factors we are talking about on the floor this morning? lauren: syria is the talk right now. we are about 20 points away from session lows for the dow, which is actually the best performing major market right no

actually about sperling. i hope to god he would stay through the best-selling debate. i just can't imagine president obama letting him go. >> reporter: one thing about that job, it used to be a very important job. i think it has been downgraded a little in the obama administration because the senior adviser to the president, he holds so much sway. key economic joppa, particularly the budget negotiations. cheryl: very close with the president. >> reporter: find out exactly how late and how long. cheryl: charlie gasparino. i have to tell you, thank you very much. the closing bell will ring in 18 minutes. which city is the most dangerous for you to get behind the wheel? we will break down the most accident-prone cities for drivers, and we're not going to show that crazy video again. ♪ plus investors are running for safety, but we will show you where to find strength in u.s. markets. that's after the break. ♪ weekdays are for rising to the challenge. they're the days to take care of business. when possibilities become reality. with centurylink as your trusted partner, our

gene sperling. >>> ashton kutcher turns into an iconic billionaire nerd for what may be the role of ame. find out what it took for kutcher to play legendary apple founder steve jobs in my exclusive interview, next. for over 125 years, we've been bringing people together. today, we'd like people to come together on something that concerns all of us. obesity. and as the nation's leading beverage company, we can play an important role. that includes continually providing more options. giving people easy ways to help make informed choices. and offering portion controlled versions of our most popular drinks. it also means working with our industry to voluntarily change what's offered in schools. but beating obesity will take continued action by all of us, based on one simple common sense fact... all calories count. and if you eat and drink more calories than you burn off, you'll gain weight. that goes for coca-cola, and everything else with calories. finding a solution will take all of us. but at coca-cola, we know when people come together, good things happen. to learn more, visit coke.co

the other excuse gene sperling is giving is his wife is taking a job in los angeles.e reason why someone takes a job or leaves a job. even though valerie jarrett mute their importance, they're still important. there is burnout. by the way, they want to make money, right? you make a lot more money in the private sector. why do people go into government? they like the power. all these guys like the power. i'm telling you, if we had them off the record, if we had rahm emanuel on the record, he would say he left not just to become the mayor of chicago, it's because his power was muted. bill daley, the same thing. if i get this guy off the record, he'll tell me the same thing. >> eric: valerie. we'll leave it there. >> gretchen: has this ever happened to you? orgeat receipt that's three feet long. every time i go to the drugstore. it's about to end. the details coming up next. oh, no. >> peter: and he risked his life to save fellow soldiers running through enemy fire. but don't you dare call him a hero. medal of honor recipient ty carter here next. [ female announcer ] a c

. >> gene sperling director of the economic council.friends that work in private industry in wall street he's thinking of stepping down i wouldn't say within the next week but next couple of months. thick he wants to get through the next budget fight everybody is gearing up for in october, and once that's over he's going to leave town. basically from what i hear a lot of wall street speculates he wants a job in the financial sector. this is a guy who's been in government a long time. he had a brief stint for goldman sachs in 2008-2009 he made a few bucks but generally in government, clinton administration, obama administration. numerous economic bureaucratic job. this was a pretty big job he was holding now. larry summers picked for fed chairman held this before him. these guys need make money. i think that's what's going on. what's interesting about this job of director -- i have to write this down, national economic council. it was created under the clinton administration. bob ruben was the first. all high ranking people. i think larr

. >> i don't know if you heard gene sperling on maria bart roma the other day, he pointed out mortgagesinvestors buy assets thinking there are no credit risk but actually there's a lot of credit risk. >> so now this blue line wiould be if someone could remove the risks, it should be more like blue line. >> that's what happened. >> remember that old day "king for a day," i'm making you king for a day, if you could fix the mortgage market given your experience, what concepts would you put forth and i'm going to give you a hint, he's already thought about this a bit and he has a concept product. take it away. >> the first thing you have to do, you have to get rid of what the economists call moral hazard. you have to get the taxpayer out of the question. as long as the taxpayer is there, the tax pay ser going to wind up losing everything. so i believe in using the chicago future style model. i have a transparent mark to market system. >> let me stop you right there. if i understand what you're saying, you're saying that to begin a discourse on how to solve this without a government presence

are there any contracts out that that can accomplish what gene sperling wants to accomplish, eliminateironment where all the risk is aggregated? guess what? the answer may be yes. you'll have to tune in tomorrow to find out. back to post 9 at the nyse. >> let's get to josh lipton. >> carl, we are watching time warner. the stock rising after twx posted a bigger revenue than the street expected. on the conference call also making some news here, the ceo now saying that time inc. spinoff to be moved to early next year. previously expected for the end of this year. that stock up today, up about 36% so far this year. kelly, back to you. >> a positive reaction to the news there. thanks, josh. carl's documentary twitter revolution premieres tonight at 9:00 p.m. right here on cnbc. for this morning's squawk on the tweet we're asking, twitter changed the word by reducing communication to 140 characters. what should it simplify next? we'll read some of your answers when we come back. before global opportunities were part of their investment strategy... before they funded scholarships to the scho

sperling is co-author of the book what works in girls education. can see all of his remarks from today at c-span.org. president obama will meet with u.s. troops and their families during a stop at camp pendleton today. it's the final stop on a two-day west coast trip. c-span love live coverage in a less than an hour and a half from now. each night this week here in c-span2 while congress is on break, we are showing on core presentations of q&a. today, a nobel peace prize winner jody williams. she won the prize in 1997, our efforts towards a worldwide ban on landmines. then at 8 p.m. eastern booktv and primetime. tonight, the focus is what booktv viewers are reading this summer. >> and tonight on c-span's town hall and look at how the media handles war. we will take your calls, e-mails and tweets on the relationship between government and journalists, censorship and national security. c-span townhall is live tonight from seven to 9 p.m. eastern. >> authors of the newspaper on health care reform briefly discussed alternatives to the affordable care a

gene sperling. >> geithner. we know who he hasn't gotten along with. that's what is a little bit surprising. i don't think he got along with valerie, but i don't know. we'll see. but obama rewards -- he's loyal. i think summers has been -- summers was in a much more centrist administration and, you know, clinton. clinton had a good record. >> i feel bad over the whole debate. i think it minimized and belittelled both yellen's and summers qualifications. >> and twisted them into almost clic cliches. >> ridiculous. >> caricatures of who they are. right. >> i think both of them are incredibly qualified. i think both of them would do a very good job. i think summers has gotten a bum rap. he has people attacking him from all sides. ben white wrote the committee to save the world from larry summers, that cover story of the committee to save the world. >> and the people in the center and right are saying the idea that one is less keynesian than the other is not -- larry will be plenty accommodative. >> he's been much more publicly outspoken. >> about qe, not

you've had a chance to hear from some extraordinary leaders like secretary arne duncan and gene sperlingand presidents ellen johnson sur leaf and others, and i hope you feel inspired because the work you do so incredibly important. i know many of you are in from missions around the world and probably many more wanted to be here and couldn't, but i just want to take one moment to note one of my first education opportunities as administrator was visiting a program in south sudan and sitting with young girls and young boys who were getting education through a school that was, where we had those -- i know they're not radios, but they were like mp3-enabled curriculums for teachers to help improve outcomes for the students. and they had outstanding data on this program and very professionally-run effort in a very difficult environment. and i just want to take a moment to recognize the folks in our education team that work in critical priority countries. these are countries currently experiencing conflict, crisis and security risks. could you all just put your hand up if you're from the cpc, an

please join me in welcoming gene sperling. [applause] >> thank you for having me. i apologize for the crazy schedule of people who occupy my post. i'm glad we were still able to work things out. first of all, i want to thank kristy, it's been an enormous thing to have her leadership here on education at usaid and helping to implement raj and the president's vision. it's great to have carol here who -- i have had the privilege of working with and her different incarnations. and they have all involved education. even when they didn't exclusively involve education. i'm also happy to be here with my mentor on education and conflict. i think rebecca whin throp is someplace. she also succeeded me as the head of the center for universal education. so i'm very pleased and very happy to be here, and obviously the focus today is on education for children -- young people, and fragile states. whatever the different incarnations are or uses of the terms, and i'm not going to make the mistake of telling a bunch of experts all the facts they already know. but i do want to say, yo