you have been saying this since i started stock to watch star wall street in two thousand and six when the you tube generation and we were purchased by c.b.s. i left c.b.s. before my contract ended to start stock twits in october two thousand and eight which was probably the dumbest time people would think to start a financial. community and we really been growing faster in the last year flash forward five years we have a great c.e.o. that we brought over from x. limburg and seen the c. person so you have this amazing to the core functions here to to give this amazing shift from wall street finally what they call themselves refugees they have no and to prove how little attack and common sense wall street has with their kongs refugees and they're the wealthiest refugees of all time but you have this convergence. boom you have this convergence of the walls coming down because of twitter and facebook so everybody sharing stuff you have snap chat which is basically how wall street work forever which is sending messages privately you have people leaving bloomberg people leaving c. and b. c.

our guest is jordan belfort, the focus of the movie "the wolf on wall street" starring leonardo dicaprio spent 22 months in prison for defrauding investors. joining me also, bloomberg's own keri geiger. you have been able to see wall street as someone who ran a firm. you have been able to see it as somebody who was convicted and sentenced to prison. you're now able to see wall street as somebody who has come out the other end. what is your description of how wall street operates today? >> i think things have changed fundamentally since the gsc. i have friends who work at some of the big firms, and i know there have been massive changes in the compensation plans. places like goldman where they hold back a huge portion of commissions to make sure the trades end up working out over the five-year horizon. i think that is a really good thing. i think there is more work to do, but again, i think the danger is that in the beginning, when there is a cataclysm, everyone says, we are going to focus on ethics and retrain everybody. they slowly start to forget, and step-by-step how -- step-by-step,

it is running in the inquirer, wall street journal and star ledger of newark. >>> is there a tentative deal right now between septa and regional rail electric aal workers. it calls for an 11.5 percent raise for the workers. they have work for five years without a contract. septa officials are planning to hold a board meeting on monday to sign the contract. first the ibew has to ratify it. as for regional rail engineer's union septa officials a they are narrowing their differences. >>> and the taney dragons are spending the the day getting ready for tomorrow's big game in williamsport. yesterday thousands came out to welcome the team with the par raid. i love that. win or lose, dragons have already made history becoming the first philadelphia team to play in the little league world series. young players are proving hard work and determination pay off. >> unaudible. >> now it is narrowed down to 16 in the world and we're one of them. it takes a lot of hard work. >> sure it does, and paying off for them. team will take the field against south nashville tomorrow at 3:00 p.m. i can only ima

mentions beach shopping, dining, big game entertainment, running in today's inquirer, wall street journal and star of newark. >>> your time is 6:38. the national veterans wheelchair games are right here in philadelphia, hundreds will compete, coming up we will talk live to the athletes who are taking part. >>> also this buggies new to the united states and it is not welcome, find out you why need to be aware and beware as well of what is called the kissing bug. >>> will she or won't she yesterday i challenge katie and kyw news radio jim melworth to take the ice bucket challenge see if they were brave enough to douse themselves with ice cold water and if they did, who did they call out, that is coming up next. >>> it is one kiss you do not want to get. >> new bug in texas carries a bite that could pose serious health risk even death. now don't be mistaken by its size, as small as a penny but a bite from the kissing bug could kill you. that bug crawls in your bed up the sheets and by the around the mouth when you are sleeping, hence the name kissing bug. >> it is a romantic name, kissing buggies a r

we also have our very own david asman and james freeman from "the wall street journal." all-star cast here. charlie, what do you think? >> i think i might get fired after this segment. >> you say that every time you talk about us. >> about this. melissa: got to go with him, i got to tell you. >> if you rewind the videotape when i was right before i got thrown out of sun valley, i reported that mr. murdoch may be interested in bidding on this but a lot of bankers were dubious that he would, that he would stick it out for the long haul. i think that's the issue here. that time warner is so adamant not selling right now and selling for a price that basically more than we can afford without borrowing a lot of money. melissa: not dumb enough to get whipped up into deal momentum? >> bewkes, the ceo of time warner, knows he has got three potential bids out there from someplace in silicon valley that can pay cash and probably pay $100 a share. >> how much will the shareholders take? they see the stock value going down? are they getting mad at mr. buchanon kest. >> what is the stock right

dan henninger come wall street journal, star columnist said yesterday in his column there are parallelsetween now and what was going on in 1914 pre world war i and pre 1938, 39, pre-world war ii. a pretty anxiety creating parallel with you ask me. do you share it? >> not in the least. in 1914 and 1939 you had military buildups. military buildups on all sides, generals wanted to use their toys. there is a profound change in european thinking legions of worrying about wars they're worried about their pensions. i do not see the military buildup. i don't seem the flame the -- the same complex web of alliances. what i see i have been saying for 20 years, i see constant conflict, back burner crises is small to mid scale brushfires everywhere but not one massive conflagration. i see the future of conflict as snakes in a plane, not armageddon. stuart: israel, 72 hour cease-fire was broken within hours of it starting. again we are investors here, we are looking for is that situation overseas which could move that market. breaking of the cease-fire, israel, hamas, is that an event we should take

star panel with us. james freeman from the "wall street journal." veronica daguerre, charlie gasparino, our own fox business correspondent. what do you think? >> we see encouraging things in terms of more bank lending to businesses, commercial loans are up. we talked about how there is a lot of money in the system. that money is being lent out to business. we'd like to see more to small business, but no reason years and years after the crisis they shouldn't start to raise now. melissa: what is the reaction if you say the fed will raise rates sooner than expected? what do you think will happen? >> i think we see pressure on the market for sure. there is still a big question surrounding jobs. melissa: right. >> yellen will address that on friday at jackson hole. speaking to that and people will want answers. are we seeing job growth we want to see? if so, what will be the future. melissa: she definitely wanted to jobs. >> for good reason. melissa: go ahead, charlie. >> i will say this. you can see it right in the market. stock traders smell this stuff

. >> and the next star you will see on a postage stampilloins us live from new york. >> good morning ukee, erika here on wall street, investors looking for big rebound after last week's massive sell off. the dow dropped another 70 points on friday, which brought us to 467 points. that hurts. and the nasdaq, that fell 96 points s&p that is worse week in two years. some good news, though, for drivers, national average for the price of gas now 3.49 a gallon, according to gas buddy. com. the lowest level for the month of august in four years. down about 15 cents from july 4th highs, now, prices are bit higher in philadelphia now there is all comes despite concern about fighting in ukraine, in the middle east, drivers can thank increased oil production, here in the united states. >> procter & gamble said it is streamline g cutting as many as 100 brands, instead the company focusing on bigger brands like tide which makes the most money. still not clear which brands will be cut. >>> and fans of the legendary singer janice joplin, know that her music will last forever, and the us postal service agrees. this week, she will

stars out of the game. you know who they are? stay tuned, "varney and company," wall streetournal sports reporter coming up. and thank you for your bravery. thank you colonel. thank you daddy. military families are uniquely thankful for many things, the legacy of usaa auto insurance can be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go togo to the post office ag. stuart: let me bring this to your attention. recently, she co-hosted thome view. pretty good ratings. during her conver

has been profiled in "the new york times," the toronto star, salon and slate and his articles and review of opinion pieces have been in "the wall street journal," the "boston globecovered the la times, "chicago tribune," miami herald and hartford current. his current book "birdmen: the wright brothers, glenn curtiss, and the battle to control the skies," reviewed and received starred reviews in publishers weekly and library journal. it was chosen as one of the best books of the year so far by "time" magazine and was the subject of an entire column in "the new york times." it also received reviews in "the wall street journal," the financial times, nature, usa today and the christian science monitor. larry is an eclectic fellow and has been a teacher, lecturer, senior member of a wall street trading firm, taxi driver, actor, show contestant and policy analyst at the hudson institute. he currently -- we are delighted to have them on the eas east enf long island. please welcome larry goldstone. [applause] >> thank you. that was wonderful. thank you all for coming. as for those of you that were familiar with my work no, i don't specialize

wall street journal entertainment reporter on how the movie industry handles the death of a star of aning project. stick around for that. dramatic new accounting of what happened the night 18 year-old michael brown was killed in ferguson, missouri. the police department saying a fight over the officer's gun led to the unarmed teen staff. fox news correspondent live with our report. >> by david demonstrations remain peaceful. hundreds pressing for action following the police shooting of michael brown. at night demonstrations melt down into clashes with police. for a third straight night tactical officers used teargas to disperse crowds. on 1:00 a.m. the man was shot and critically wounded. i gun was recovered from the scene. all of this amid continued calls. >> come together and do this right, the right way. the right way so that we can get something done. >> police said on saturday, august 9th brown was shot after shoving a police officer into his patrol car and trying to steal the officer's weapon. police are withholding the identity of the officer. >> we weigh the value of releasing

here now to discuss all of this, veronica daguerre with the "wall street journal" we have larry shover of fsg alternatives. liza benson from star vest partners. thanks to all of you for joining us. liza, what do you think of the market's reaction? >> i think type of instability will affect the markets. anytime you have this type of military action going on you will see the markets react. melissa: especially when we have so little clarity on this we don't know if this is big convoy of white trucks we saw go in. it is totally separate from that or related to it. this is what was feared, it would get reaction. >> there is a lot of fears here. we don't know how far it is going to go. i don't know if it will go that much further at this point. you never know with putin. he is wildcard. he is unpredictable. he as ambitions but doesn't seem like he answers to anyone. a lot of fears where he goes with this and ripple effect for the rest of the world. melissa: i take the opposite side. a lot of people are afraid this is exactly with he was after. he was trying to provoke the other side and start a war to have excuse to go in and use for

stars of tv's most watched comedy right here on cbs-3. but tonight a big bank battle is on. why the show has stopped >> big sell off on wall street.he dow tumble more than 300 points today. it's worst one day drop since february. the plunge snapped a string of five straight monthly gains and pushed the blue chip index to a slight loss for the year. driving that drop geo political concerns and worries the fed could raise short-term interest rates. >> chopper three over a deadly accident involving a septa train today. pedestrian was hit and killed by the norristown high speed line train in havertown. near the penn field station this happened just before 4:00 o'clock. still no word at this hour on the victim's den but rail service is back to normal. >> new at 11:00 o'clock, red light runners beware. more of those red light cameras are popping up in our area. these latest eyes in the sky are in abington, montgomery county. "eyewitness news" reporter diana rocco has a look at where these cameras will go online in just a few minutes. >> reporter: next time you're thinking about running that red light in abington, don't. someone is watch

to the "wall street journal"'s james freemen how this is adding up or not adding up. fox biz all-stars as well. what are we looking at here? >> we're realizing that the triumph that the president proclaimed in the spring, 8 million people signed up, look it's a success, never going away, is not what it appears, aetna saying the numbers go down further. neil: the numbers of paid customers. >> the number of paid enrolled customers. >> why? because of the subsidies? >> looking at premiums going up. that's going dissuade more customers. and among the people who don't get government subsidies, this is not a very appealing deal. add the fact there are a lot ofd and you have a big part of that uninsured population that does not want obamacare. neil: if you're right, and i have no reason to doubt you, we have to rethink everything we've been told. we have subsidies called into legal question, a lot of people who enrolled who didn't enroll honestly, we've got a big mess on our hands. >> you mentioned the legal challenge. if they knock the federal subsidies out of exchanges in 36 state, again, m

star david beckham. and it is like the old playground do over. "the wall street of vascular biogenic score shared for six days, but these sales were stopped because a key investor act out. that is your company news. >> thank you, olivia. thistime for a little matters now. >> thank you, adam. this matters not to our guest host, tobias levkovich of citigroup. a set of cash flows, tax do not shake., it is an immediate $12 billion improvement. one indication of the incredible treasure on corporate leaders to engineer cash back to shareholders. it is a whole new twist, tobias. share repurchase, m&a -- maybe we should invest, now we have financial engineering. >> well, financial engineers have been going on for almost as long as i have been in the business. i think you are seeing more interestingly is a bit of a shift away from the dividend and the stock buyback program to more m&a and capital spending stop. they are using cash, but they are using it in ways to grow their businesses, more so than just shrinking and returning cash to shareholders. >> which sector is mor

reports the wall street journal, net flows into index or passively managed stock and bond funds have far out paced those into actively managed funds. this year through july, according to morning star investors dumped $177 billion net into index funds into actively managed funds just 78 billion. here to tell us whether they are making the right choice is director of north american research for morning star. john, welcome. good to have you with us. >> thank you. >> are they making the right choice? >> i think for many investors out there, passive investing is certainly a very good choice. you get low fees, you get returns that are, you know, as you say, are going to generally match those of the market. you know what is in the fund in s&p index fund. it's great. it's the kind of thing where investors today are looking at the headline of your show and seeing what the s&p 500 is doing and they will say, you know what? i feel confident i know what i'm getting in my portfolio because that's the fund i'm invested in. there are a lot of good things about it. >> john, when you compare the performance of whether it's actively managed or index fund, how do they rank? i mean, how often do the

star. thank you, nicole. or like the supermoon, like that? >> reporter: oh, my god, that was so gorgeous. liz: very cool. forget the sleepy summer months, it's been an extremely busy month on wall street of geopolitical headlines and have been trading in and out of the markets and then back in. some have even pulled out entirely, sitting on their cash instead. i bet my next guest says that's a mistake. he's got some four billion in assets under management. he says now is the time the start scaling that mountain, that tough, tough mountain and trade on the drama. he believes there are some gems that are ripe for the picking a as you climb the wall of geopolitical worry. joining me now, chris bertelsen, global financial chief investment officer. chris, you've been around long enough to know it's time to take risks when other people are scared, but russia? we've seen their ruble weaken and now their index is coming back. i mean, where do you get the courage to invest in russia right now when there are sanctions against it? >> well, i think that, you know, you need the take an opportunity -- to take an opportunity whenever you see global political risk at its highest. now, putin hasn't go

star. ending the pursuit of rival t-mobile after concluding a deal would be unlikely to survive an antitrust challenge. copsere are a lot of policing wall street these days. the new york attorney general, state superintendent of financial institutions and the manhattan da. just ask the french bank that pleaded guilty to two criminal charges wrought by the district attorney as part of the $9 billion settlement on blacklisted countries like sudan and iran. with us is the manhattan da himself. mr. district attorney, welcome and thank you. we should probably begin with news of the day. capital one, a large financial institution disclose in a regulatory filing it has been subpoenaed by your office into money-laundering probe. what can you tell? >> we cannot comment on ongoing investigations so there is not much i can tell you. thing seems clear, that this investigation, which involves check, is not of the scale that we saw in the case of or hsbc or standard chartered. those are really big and ultimately really expensive problems for those things. are there more such settlements two,? >> what i can say is we have been very active in these investigat

wall street journal" says a delay of the rule would impact large banks. and lauren bacall died wednesday after suffering from a stroke. she was 89. she starredsuch movies as "to have and to have not." she married humphrey bogart in 1945. known for hurry sulry looks and voice, she won two-tony awards for her work on broadway and a special oscar for lifetime achievement. >>> it's back to school season. who will be the big winners and losers in the retail space? and will american apparel be able to overcome the scandal? we discuss after this short break. >>> welcome back to the show. the ftse 100 now gaining strength after that boe inflation report, essentially pushing out a rate hike from the first quarter of this year into the first quarter of next year. the xetra dax up by 0.8%. and the ftse mib highest by 0.3%. u.s. futures look like this. we're expecting a slightly higher start to the trading day, actually, after we snapped a two-day winning streak yesterday. the s&p 500 taking fair value into account, sent up by 8 points. the dow jones seen up by 52 and the nasdaq seen up by 14.93 points. again, not a lot of conviction in these markets. l

star on the outcome of this race. chatz greeting his supporters after the results showed he had won the race . we're are asking you today, do you trust wall street? we go to kyle in new jersey on our independent line. i would like to say that i do not trust wall street. much of the markets are manipulated. we are seeing economic signs being rewritten for the sake of capitalizing these s&p 500 corporations. the vastan helping majority of these people that have been left homeless get back on their feet. get jobs back and such. and help some small businesses out. that is my comment. if people want change, they need to vote for third parties. if you keep voting for the same two parties that have long served as puppets of these puppeteers in the financial world, you have nobody else to blame but yourself. host: kyle in new jersey. on twitter -- we will go now to george on our republican line. george is in illinois. caller: good morning. i appreciate all c-span does. mr.uld like to respond to -- the gentleman from massachusetts. i totally agree. he was a 30 year commercial banker. referring to the repeal ofthe more recent years glass-steagall. it was

wall street was expecting. those shares currently near their after-market lows. you can see there down by about 11%. so, wsm shares really had been stars least in today's trade are down by 10% on the heels of at least an earnings forecast that's disappointing for investors, kelly. back over to you guys. >> all right, dom. thank you. we'll keep an eye on that during the hour. >>> remember the rage over the ipad mini? they seem to be a distant memory for apple, reportedly looking to make a bigger and better ipad after lags for the 7.9-inch versions. b as we go to break, head over to cnbc.com/vote and participate in our online poll and weigh in on whether or not you want a bigger ipad. we'll show you the live voting when we come back from the break. your 16-year-old daughter studied day and night for her driver's test. secretly inside, you hoped she wouldn't pass. the thought of your baby girl driving around all by herself was... you just weren't ready. but she did pass. 'cause she's your baby girl. and now you're proud. a bundle of nerves proud. but proud. get a discount when you add a newly-licensed teen to your liberty mutual insurance

wall street nervous and they're gaining traction. she will be here with what she says is wrong with the banking sector. >>> our old different marcus lemonis joins us after the bell. "the profit" star here on cnbc has a few things to say about this market. plus, marcus has accepted the ice bucket challenge for als and will do so here on the "closing bell" and you won't believe who he's going to challenge to do it next, kelly. watch out. >> i know. let's take a look at markets right now. with an hour left in the trading session, the dow is turning in a strong performance, up 168 points or 1% now. it's actually the nasdaq as well that got an early start in the green, helping boost the risk complex higher. it's up 38 points to 4,503. and the s&p 500, and this will be one to watch, is at 1, 69 right now. >> and what a great year that was. joining our "closing bell exchange," rob bartenstein from washington wealth management, steven hammers from compass emp funds, anthony chan from chase, and winnie sun from sun group wealth partners. welcome one and all. rob, let me start with you. we've gone a long way up, we've gone a long way down this summer, but basically, we're roughly where we b

star advertiser. thank you for being with us. guest: all right, steve, thank you for having me. host: we continue with your phone calls on the nbc/"wall streetournal" polls. congress fed up with and the presidency. allen is joining us from alabama. good morning. caller: how are you doing? host: thanks for waiting. what is your take on all of this ? caller: i tell you what, i am losing my job, my kids and got no food, israel bad out there, bad outit is real there, man. obama is messing everything up. caller: i am really fed up with all of these people calling in. we had a very bad situation in america here. first of all, this congress, which is run by the republicans and speaker boehner or cruz, who is on a five-week vacation. -- right nowlicans they should be sitting down and discussing issues of how to help people. we have a lot of people unemployed. five-week occasion, enjoy it this morning. they should come back to the table. thank you. the call.thanks for this is from a viewer who says -- we are especially fed up with the failed obama residency and his minions in congress. going to start fixing that on november 4. from layton,er is india

star is usually the president's approval rating. look at these numbers. 40% of americans approve of the president's job performance, 54% disapprove. that's an all-time low in the nbc/"wall streetpart of the reason they are mad at the president is they think the country is heading in the wrong direction, 71% of the americans say the country is on wrong track and eight in ten are dissatisfied with the american political system and 72% says washington bears responsibility for part what have they believe is an economic funk. look at those numbers three months from an election. >> very ominous sign at democrats. any time the president is under water like this, his party suffers in a mid-term election, in the house, there's chance that democrats take control of the senate, but the interesting thing in those poll numbers voters aren't typically motivated behind a specific issue unlike 2010, health care drove republican voters out to the polls, in 2006 iraq drove democratic voters out to the polls. may see a low turnout election here which may mean there may not be republican wave you would expect them to have. may gain seats but maybe they leave a couple of seats on table and maybe t

wall and patrick kiefer. you are a rock star at mkm, right? >> yeah. a shooting star of immense proportions. i thought about that. anyway, what's wrong? five years later, the average guy on the street still doesn't feel confident enough in his house or confident enough in his -- if he owns a house and confident enough in keeping his job that he's actually a very lackluster consumer still? >> i mean, all of those things, i think, that you just talked about are key. you know, another thing that i would add 209 mix would be spending on things like smartphones, which has migrated down into walmart's customer base in a pretty big way. so on $100, $125 a month smartphone cell phone deal. >> that's your plate? that's taken away from other spending? >> yeah. >> really? that's interesting. and then you've got some increased competition, i think, as it relates to walmart. take a look at kroger which just reported close to a 5% krints from more. just in general, i think the grocery stores have sharpen dollars up with their ability to compete with walmart. we all know that the dollar stores are pretty effective force in that area, too. and food and consumer both have been adding fridge rated f